Option Right definition

Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

Option Right means the right to purchase shares of Common Stock upon exercise of an award granted pursuant to Section 4 of this Plan.

Option Right means the right to purchase Common Shares from the Company upon the exercise of a nonqualified stock option granted pursuant to Section 4 of this Plan.

Examples of Option Right in a sentence

• If Xxxxxx fails to execute the applicable Affidavit, Xxxxxx hereby agrees that CLT may file an Affidavit Affecting Title of record against the title to the Residential Unit to clarify that the proper procedures were followed by CLT, as applicable, for such sale and that the First Option Right was exercised or waived by Lessor with respect to such sale.

• Xxxxxx shall execute an Affidavit in the Office of the Clerk of Teton County, Wyoming contemporaneously upon the delivery of an Exercise Notice for each sale or upon the waiver of its right to exercise its First Option Right for each sale for the purpose of providing clarity to the public regarding the status of the First Option Right for each sale.

• If the Lessor does not exercise the First Option Right within such foregoing applicable period, or otherwise fails to respond within such period, then Lessor shall automatically be deemed to have waived its First Option Right only with respect to such sale and the owner of the Residential Unit and CLT shall have the right to sell the Property to a Qualified Buyer in accordance with the sale procedures set forth herein in (b) below and in the Guidelines.

• If CLT receives an Intent to Sell Notice or there is an occurrence of a Transfer Event, or b) a Default (as defined in Article XI) occurs, the Lessor shall have the First Option Right to either exercise its option to purchase the Residential Unit or to identify a purchaser to purchase the Residential Unit.

• If the First Option Right with respect to the Residential Unit is not exercised or has otherwise expired, CLT will thereafter move forward to select a Qualified Buyer in accordance with CLT procedures, as CLT may determine and in accordance with the Guidelines.

More Definitions of Option Right

Option Right means the right to purchase Common Stock upon exercise of an option granted pursuant to Section 4 or Section 9 of this Plan.

Option Right has the meaning specified in the definition of “Change of Control”.

Option Right means the right to purchase a share of Common Stock upon exercise of an option granted pursuant to Paragraph 4.

Option Right means the right to purchase shares of Common Stock upon exercise of a Non-Qualified Option or an Incentive Stock Option granted pursuant to Section 4 of this Plan.

Option Right means the right to purchase a share of Common Stock upon exercise of an outstanding Incentive Stock Option or Nonqualified Stock Option.

Option Right means the right to purchase Common Shares from the Company upon the exercise of an option granted pursuant to Section 3 of this Plan.

Option Right means the right to purchase Common Shares from the Corporation upon the exercise of a Nonqualified Option or a Tax-Qualified Option granted pursuant to Section 4, or a Replacement Option Right granted pursuant to Section 17(c), of this Plan.