Examples of Seller Option in a sentence
All demands, notices and communications hereunder shall be in writing and shall be deemed to have been duly given if personally delivered at or mailed by registered mail, postage prepaid, addressed as follows: if to the Seller: Option One Mortgage Corporation 3 Ada Xxxxxx, XX 00000 Attention: Xxxxxxx X.
Each outstanding option to purchase Common Shares issued to employees, non-employee directors and consultants of Seller pursuant to Seller's 1996 Stock Option/Stock Issuance Plan, as amended (the "Seller Option Plan"), except for options to purchase 44,800 Common Shares granted on October 10, 1996, as listed on Schedule 2.5 hereto which shall terminate on the Closing, whether vested or unvested (each a "Stock Option"), shall remain outstanding after the Effective Time and shall be assumed by Buyer.
Each Stock Option assumed by Buyer shall be exercisable upon the same terms and conditions as under the Seller Option Plan and applicable option agreement issued thereunder, except that (i) such option shall be exercisable for that number of shares of Buyer Common Stock equal to the number of Common Shares for which such option was exercisable times the Conversion Ratio, and (ii) the exercise price of such option shall be equal to the exercise price of such option divided by the Conversion Ratio.
Anything in this Agreement to the contrary notwithstanding, Seller shall have the option (the "Seller Option"), exercisable at any time prior to 11:00 p.m., Eastern Standard Time, on January 7, 1998, by notice to Buyer, to elect to reduce to 4,105,043 the number of shares of Common Stock to be sold to Buyer pursuant to the Agreement.
All demands, notices and communications hereunder shall be in writing and shall be deemed to have been duly given if personally delivered at or mailed by registered mail, postage prepaid, addressed as follows: if to the Seller: Option One Mortgage Corporation 3 Ada Ixxxxx, XX 00000 Attention: Wxxxxxx X.