Option Limit definition

Option Limit has the meaning set forth in Section 5.1(c).

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Option Limit means the maximum number of Shares that may be acquired under an Option, as determined in accordance with Clause 3.

Option Limit means the limit defined in paragraph 4.1(a)(ii).

Examples of Option Limit in a sentence

• If the aggregate Put Prices would exceed the Put Option Limit, Seller shall notify promptly Buyer of such fact and Buyer shall revoke the Put Notice as to any portion of a Senior Loan, or one or more Senior Loans, such that the Put Price shall be brought below the Put Option Limit, and then the Put Option shall be completed in accordance with Section 5.7.

• The purchase price (the “Put Price”) shall be an amount equal to the outstanding principal amount of the Senior Loan held by Buyer plus accrued interest at the Interest Rate, provided that the aggregate Put Prices payable in respect of all Senior Loans put to Seller under this Section 5.6 during any trailing twelve (12) month period ending on the date of the Put Notice shall never exceed the Put Option Limit.

• To the extent required by Section 162(m) of the Code, shares subject to Options which are canceled continue to be counted against the Option Limit and if, after grant of an Option, the price of shares subject to such Option is reduced, the transaction is treated as a cancellation of the Option and a grant of a new Option and both the Option deemed to be canceled and the Option deemed to be granted are counted against the Award Limit.

• The Company shall not issue or sell Common Stock or options therefor in amounts in excess of amounts permitted by, or at prices lower than those permitted by, the Option Limit without the written consent of Oryx Technology Corp.

• Subject to the provisions of Section 2.8, the Individual Option Limit Excess of each Creditor will be re-allocated to the other Restructuring Option.

• Pre-emptive Rights shall be triggered by any grant of Subject Options after the Subject Option Limit Date, and the number of shares of Common Stock purchasable upon exercise of such Pre-emptive Rights shall be calculated based solely upon the number of shares purchasable upon exercise of Subject Options granted after the Subject Option Limit Date.

More Definitions of Option Limit

Option Limit means $3,000,000.

Option Limit means a number of Shares issuable upon exercise of options or any other rights to acquire Ordinary Shares granted under the Option Plan not to exceed 10% of the outstanding Shares of Obligor on a fully diluted basis, including after giving effect to the issuance of Shares upon exercise of such options or such other rights and the conversion of the Convertible Note.

Option Limit means Two Hundred Thousand (200,000) shares of Common Stock, as adjusted pursuant to Section 2.3 and 4.6 of the Plan, the method of counting such shares of Common Stock shall conform to any requirements applicable to performance-based compensation under Section 162(m) of the Code or the rules and regulations promulgated thereunder.

Option Limit means the maximum number of Shares that may be