Permitted Options definition

Permitted Options means options to purchase an aggregate of not more than three million shares of Class B Common Stock, minus any options to purchase shares of Class B Common Stock outstanding by reason of the assumption of options by the Corporation in the Merger.

Permitted Options means grants of options to acquire shares of Common Stock or of restricted Common Stock, issued after the Issuance Date to employees, consultants, officers or non-employee directors of the Corporation pursuant to any stock option, restricted stock, stock purchase or stock bonus plan, agreement or arrangement approved by the Board of Directors, existing on December 31, 2003 or modified or adopted in accordance with Section 5(e)(iv).

Permitted Options is defined in Section 4.02(a)(i). "Permitted Securities Transaction" is defined in Section 4.02(b)(ii). B-36

Examples of Permitted Options in a sentence

• The exercise price per share of each such assumed Option, other than Permitted Options, shall be equal to the exercise price of such Option immediately prior to the Effective Time, divided by the Common Conversion Ratio (with any fraction resulting from such division to be rounded up to the nearest whole cent).

• For all assumed Options, other than any Options issued as contemplated by Section 4.4(a) (referred to as the "Permitted Options"), each Option shall become an option to acquire a number of shares of Buyer Common Stock equal to the number of Common Shares subject to the unexercised portion of such Option multiplied by the Common Conversion Ratio (with any fraction resulting from such multiplication to be rounded down to the nearest whole number).

• Except for the Permitted Options defined below, during the Period no stock, nor options, warrants or other rights to acquire common stock of the Company, nor any instrument exchangeable for or convertible into common stock or any right to acquire common stock of the Company, shall be issued, awarded or granted to any Executive.

• Such ownership interest in White Cliffs is owned beneficially and of record by the Borrower free and clear of all Liens other than the security interests created by the Loan Documents, and is subject to no Stock Equivalent or other right or encumbrance, other than the Permitted Options.

• Except to the extent that such financial statements could be affected by the Permitted Options Qualifications, such financial statements present fairly, in all material respects, the financial position and results of operations and cash flows of the Borrower and its consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year-end audit adjustments and the absence of footnotes in the case of the statements referred to in clause (ii) above.

More Definitions of Permitted Options

Permitted Options has the meaning assigned to such term in Section 6.05(e).

Permitted Options has the meaning set forth in paragraph A(5)(c)(iii) ----------------- hereof.

Permitted Options is defined in Section 4.02(a)(i).

Permitted Options means the Options for the purchase of up to 38,820,624 Common Shares authorized, issued or granted by the Company on or prior to March 5, 2002.

Permitted Options means options to acquire shares of Common Stock or restricted Common Stock, not to exceed in the aggregate in any fiscal year 2 1/2% of the shares of Common Stock outstanding at the end of the immediately preceding fiscal year (treating the Series A Preferred Stock for this purpose as having been converted into Common Stock), issued after the Issuance Date to employees, consultants, officers or non-employee directors of the Corporation pursuant to any stock option, restricted stock, stock purchase or stock bonus plan, agreement or arrangement approved by the Board of Directors, which approval shall include a majority of the Designated Directors.

Permitted Options means options or warrants to acquire Permitted Securities of Borrower, in an amount not to exceed thirty percent (30%) of the fully diluted common stock, par value $0.001 per share, of Borrower as of the Closing Date, issued to employees, non-employee directors, service providers, consultants and other advisors pursuant to the terms of the related employment or other compensation-related agreements and/or incentive stock plans adopted and approved by the Board of Directors of Borrower.

Permitted Options means the option of each of the Project Partners under the White Cliffs LLC Agreement to acquire from the Borrower an aggregate of 24.5% (49.0% in the aggregate for both Project Partners) of the Stock of White Cliffs, in each case taking into account all Stock already owned by such Project Partner.