Prime Option definition

Prime Option shall have the meaning assigned to such term in Section 4.1(a)(i).
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Prime Option is hereby defined to mean an option relating to the purchase of Prime Stock, and any rights appurtenant thereto including Equity Based Rights (as defined at Section 2.01(d)(2) below), granted under a Prime Stock Compensation Plan (as defined at Section 2.01(d)(3) below), outstanding both on the date hereof and at the Effective Time.
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Prime Option means (a) until the twelve (12) month anniversary of the Effective Date, an annual rate of interest equal to the Chase Bank Rate plus one-half of one percent (0.50%) and (b) after the twelve (12) month anniversary of the Effective Date and subject to the requirements set forth in the definition of Applicable Margin, an annual rate of interest equal to the Chase Bank Rate plus the Applicable Margin.
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Examples of Prime Option in a sentence

  • If a LIBOR election is not timely made or cannot be made, or if LIBOR cannot be determined, then the Agent shall use the Prime Option to compute interest.

  • Upon such exercise, the LIBOR Option shall remain in effect until the expiration of the LIBOR Option Period selected, at which time, unless an additional LIBOR Option shall have been timely exercised, the rate hereunder upon expiration shall be the Prime Option.

  • The exercise price per share of Summit Stock purchasable upon exercise of a Converted Option shall equal the aggregate exercise price that would have been payable upon an exercise in full of the related Prime Option divided by the Converted Number and rounded up to the nearest ten-thousandth of a dollar.

  • In the event of any change in the Chase Manhattan Bank Rate, the rate of the Prime Option shall change as of the first day of the first month following such change.

  • The number of shares of Summit Stock which may be purchased upon exercise of a particular Converted Option shall be the number of shares of Prime Stock which would have been issuable upon exercise in full of the related Prime Option multiplied by the Exchange Ratio and rounded down to the nearest whole number ("Converted Number").

  • Prime shall exercise the Prime Option, if at all, by providing written notice to UST at any time during the Prime Option Period.

  • The results of fiscal 2000 and 1999 do not include the results from Prime Option, the operations of SPS and certain receivables associated with the discontinued BRAVO Card, all of which were sold during fiscal 1998.

  • In the event of any change in the Chase Manhattan Bank Rate, the rate of the applicable Prime Option shall change as of the first day of the first month following such change.

  • The Overadvances and Agent Advances, as applicable, that are made pursuant to this Agreement shall be subject to the same terms and conditions as any other Advance, except that the rate of interest applicable thereto shall be the Prime Option; provided, however, that the making of any Overadvance shall not constitute a waiver of any Default or Event of Default then in existence or arising therefrom.

  • Upon such exercise, a LIBOR Option shall remain in effect until the expiration of the LIBOR Option Period selected, at which time, unless an additional LIBOR Option shall have been timely exercised, the rate hereunder upon expiration shall be the applicable Prime Option.


More Definitions of Prime Option

Prime Option means that certain option to purchase oil and gas interests in favor of Prime Natural Resources, Inc. ("Prime") as set forth in that certain Purchase and Sale Agreement dated August 25, 1999 by and between Seller and Prime.
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Prime Option means either a Revolver Prime Option or a Term Loan Prime Option, as such terms are defined in Section 4.1(a)(i).
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Prime Option means an annual rate of interest equal to the Chase Manhattan Bank Rate plus the Applicable Margin.
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Related to Prime Option

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Performance Option means an Incentive Stock Option or Nonqualified Stock Option, the grant of which or the exercisability of all or a portion of which is contingent upon the attainment of specified Performance Measures within a specified Performance Period.

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Vested Options means the Options that have vested in accordance with Section 2.2 of this Agreement.

  • Vested Option means any Option, which has already been vested according to the Vesting Dates.

  • Employee Option means an Option granted pursuant to Section 5.

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • Director Option means an Option granted pursuant to Section 6.

  • Top-Up Option has the meaning set forth in Section 1.4(a).

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to exercise the Option.

  • Vested Company Option means each Company Option outstanding as of immediately prior to the Effective Time that is vested as of immediately prior to the Effective Time or will vest solely as a result of the consummation of the Merger.

  • Stock Options means the collective reference to "Incentive Stock Options" and "Other Stock Options".

  • Related Option means an Option with respect to which a Stock Appreciation Right has been granted.

  • Non-Tandem Stock Appreciation Right means the right to receive an amount in cash and/or stock equal to the difference between (x) the Fair Market Value of a share of Common Stock on the date such right is exercised, and (y) the aggregate exercise price of such right, otherwise than on surrender of a Stock Option.

  • Parent Stock Option means any option to purchase Parent Common Stock granted under any Parent Stock Plan.

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Option to Purchase has the meaning set forth in Section 13.1.

  • Company Stock Option means an option to purchase shares of Common Stock.

  • Tandem Appreciation Right means an Appreciation Right granted pursuant to Section 5 of this Plan that is granted in tandem with an Option Right.

  • Sub-grant means a grant made or proposed to be made by the Recipient to a Beneficiary out of the proceeds of the Financing for the purpose of financing a Subproject; and “Sub-grants” means more than one such Sub-grant.

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

  • Vest or “Vesting” means that a portion of the Option granted to the Option Holder which is available to be exercised by the Option Holder at any time and from time to time.

  • Option Grant Date means, as to any Stock Option, the latest of:

  • Nonstatutory Stock Option means an Option not intended to qualify as an Incentive Stock Option.

  • Notice of Grant means a written or electronic notice evidencing certain terms and conditions of an individual Option grant. The Notice of Grant is part of the Option Agreement.

  • Vested Portion means, at any time, the portion of an Option which has become vested, as described in Section 3 of this Agreement.