Reduction Option definition

Reduction Option means a reduction option purchased by You to reduce potential liability as described in clause 22.
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Reduction Option means the option offered to each holder of an Allowed Trade Vendor Claim in an amount equal to or less than $10,000 to receive $250 in full satisfaction, settlement, release, and discharge of and in exchange for such Claim.
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Reduction Option has the meaning set out in Article 2.8.1.
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Examples of Reduction Option in a sentence

  • Reduction Option 2 (VIP Cover) A $0 (zero) Liability Reduction applies to all Campervans and Motorhomes.

  • The Standard Liability can be reduced if You purchase one of the following Reduction Options: Reduction Option 1 A Liability Reduction of $2,500 applies.

  • The Hirer is responsible for all toll road charges (except where the VIP Liability Reduction Option is taken), fines, court costs and administrative fees for any traffic, bus lane, parking or freedom camping offences or other legal violations assessed against the Vehicle, the Hirer or Wilderness in connection with the Vehicle during the Rental Period (together “Infringement Fees”).


More Definitions of Reduction Option

Reduction Option has the meaning set forth in Section 2.1(n).
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Reduction Option means, for a given Joint Development Program, a Product Reduction Option or a Program Reduction Option, as the case may be.
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Reduction Option or “Reduction Premises”). If Tenant is not giving back all of the Fifth Floor 5A Premises, excluding the existing server room as described below, the Reduction Premises will be in a location that is reasonably acceptable to both Tenant and Landlord and such location that Landlord can separately demise from the premises at its sole cost. The effective date thereof (the “Second Reduction Date”) shall be a date selected by Tenant that is on or after November 30, 2015. Tenant may exercise its Reduction Option by delivering to Landlord written notice of Tenant’s intention to exercise such option at least twelve (12) months prior to Tenant’s proposed Second Reduction Date. Tenant’s exercise notice shall set forth the Second Reduction Date, and Tenant shall include therewith an amount (the “Second Reduction Fee”) equal to the unamortized amount as of the Second Reduction Date of the sum of (i) brokerage commissions paid or incurred by Landlord in connection with this Amendment attributable to the Reduction Premises (amortization period calculated from December 1, 2015 – April 30, 2021), (ii) the Refurbishment Allowance paid or incurred by Landlord prorated to the Reduction Premises (amortization period calculated from December 1, 2015 – April 30, 2021), and (iii) all abated Rent applicable to the Reduction Premises for the Rent Abatement Months that would have been payable had Minimum Rent been charged during such months at the rates in effect for the remainder of each applicable term; all of which costs shall be amortized at 0.0% interest over the remainder of the Initial Term from the date of each abated month. By example; if Tenant, exercises Tenant’s Space Reduction Option and gives up 7,982 RSF effective December 31, 2017, and has used the full Refurbishment Allowance, Tenant will pay a Second Reduction Fee equal to $100,491.10. Effective on the Second Reduction Date, the Premises area shall be decreased to constitute the Fourth Floor Premises (20,708 RSF), and Tenant shall surrender and return to Landlord all or a portion of the Fifth Floor 5A Premises (8,898 RSF) in its then-current “as-is” condition, broom clean, and with all of Tenant’s furniture, trade fixtures, and equipment removed therefrom. On and after the Second Reduction Date, appropriate changes shall be made to the Revised Minimum Monthly Rent and Tenant’s Pro Rata Share to reflect the new Premises Area (RSF) and Minimum Monthly Rent. Tenant’s Reduction Option shall automatically become null an...
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Reduction Option shall have the meaning as set forth in Section 29.1.
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Related to Reduction Option

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • Renewal Option has the meaning set forth in §12.1.

  • Replacement Option means an Option that is granted when a Participant uses a Common Share held or to be acquired by the Participant to exercise an Option and/or to satisfy tax withholding requirements incident to the exercise of an Option.

  • Conversion Option means the Company’s option to convert some or all of the Series D Preferred Stock into that number of shares of Common Stock that are issuable at the then-applicable conversion rate as described in Section 8(c) of these Articles Supplementary.

  • Option to Extend has the meaning given that term in Section 2.13.

  • Option Notice has the meaning set forth in Section 5.2(a).

  • Call Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities.

  • Termination Right have the respective meanings given in the PRA Contractual Stay Rules.

  • Option 1 [X] Yes, but only with respect to a Contributing Participant's Elective Deferrals.

  • Option means a stock option granted pursuant to the Plan.

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.

  • Option Period means the period during which an Option may be exercised.

  • Call Option Period has the meaning given to it in Condition 6.04 (Call Option);

  • Termination Notice means the communication issued in accordance with this Agreement by one Party to the other Party terminating this Agreement;

  • Put Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and tender of the specified underlying Securities, to sell such Securities to the writer thereof for the exercise price.