Additional Option Payments Sample Clauses

Additional Option Payments. If Buyer has not exercised the Option and paid the Option Payment, as set forth in Section 2.3 below, on or prior to the relevant date set forth below, then Buyer and Timberline Parent will meet the following additional expenditures and payment requirements (“Additional Payment Requirements”) on or before the relevant date set forth below. March 31, ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Dollars (U.S.$1,000,000) in cash and issue One Million (1,000,000) shares of common stock of Timberline Parent to Gunpoint Parent (or as Gunpoint Parent may direct) March 31, ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Dollars (U.S.$2,000,000) in cash and issue One Million (1,000,000) shares of common stock of Timberline Parent to Gunpoint Parent (or as Gunpoint Parent may direct) December 31, 2018 Buyer will have made cumulative expenditures at the Talapoosa Project since the Effective Date totaling Seven Million and Five Hundred Thousand United States Dollars (U.S.$7,500,000). Buyer retains sole discretion over the timing and nature of the expenditures in its operation of the Talapoosa Project in accordance with Articles V and VI hereof. Buyer shall provide evidence of the cumulative expenditures to the reasonable satisfaction of Gunpoint Parent, which evidence may include financial statements of the Company as filed with the United States Securities and Exchange Commission. In relation to any issuance of shares of common stock of Timberline Parent pursuant to an Additional Payment Requirement, Gunpoint Parent and/or the entity to which such shares of common stock are being issued will deliver prior to the issuance of such shares of common stock a certificate regarding certain representations, warranties and covenants for purposes of issuing such shares of common stock pursuant to applicable securities laws at the time of issuance. If Buyer and/or Timberline Parent fail to make such Additional Payment Requirements on or before the dates indicated above, then this Option Agreement shall terminate at 11:59 pm Coeur d’Alene time on such date.” 3. As of the date of this Amendment, Section 2.2(g) as provided below, is hereby added to the Option Agreement:

Additional Option Payments. For each Antigen Target that is designated as an Additional CAR Antigen Target pursuant to Section 3.1(a) and for any Product Type that is designated as an Additional PSC Product Type pursuant to Section 3.1(b), Beam will issue Sana an invoice for a one-time payment equal to ten million Dollars ($10,000,000) (each, an “Additional Option Payment”) and Sana shall pay such Additional Option Payment within [***] Business Days after its receipt of such invoice from Beam.

Additional Option Payments. The Grantor and the Grantee agree that at present an encumbrance on the title to the subject real estate property exists. Said encumbrance is described in the Title Commitment, Order No. 122153A issued by Chicago Title Company of Colorado, Inc. as follows:

Additional Option Payments. On the 15th day of January, 2002 and continuing on the 15th day of January in each year thereafter through January 15, 2004, (unless this Option Agreement is extended as hereinafter set forth), the Grantee shall pay directly to the Grantors additional Option Payments in the amount of TWO HUNDRED THOUSAND AND NO/100 DOLLARS ($200,000.00) each. Provided that the Grantee well and truly performs the requirements of the Buyer in accordance with terms and provision of this Agreement and closes the real estate transaction contemplated in this Agreement, on or before December 31, 2004, or such other date to which the closing has been extended by mutual agreement of the parties, all Options Payments made hereunder by Grantee shall be credited against the Purchase Price referenced in Paragraph 3(c) hereof. In any event, subsequent to the Due Diligence Date identified in Paragraph 9(c) of this Contract, all Option Payments made hereunder shall be nonrefundable to the Grantee/Buyer.

Additional Option Payments. In addition to the Initial Option Payment of Five Thousand and No/100 ($5,000.00) Dollars to be paid within five (5) days after full execution hereof, in the event Optionee has not exercised and closed the purchase of the Option Property under this Option Agreement on or before October 31, 2018, Optionee shall thereafter pay to Optionor the sum of Five Thousand and No/100 ($5,000.00) Dollars prior to October 31, 2018 as an Additional Option Payment or this Option Agreement, and the option to purchase pursuant to this Option Agreement, shall terminate. Further, in addition to the foregoing option payments, in the event Optionee has not exercised and closed the purchase of the Option Property under this option agreement on or before November 30, 2018, Optionee shall thereafter pay to Optionor the additional sum of Five Thousand and No/100 ($5,000.00) Dollars prior to November 30, 2018 as an Additional Option Payment or this Option Agreement, and the option to purchase pursuant to this Option Agreement, shall terminate. In the event Optionee does not make the Additional Option Payments as scheduled, this option shall terminate, Optionor shall retain any option payments previously made, and neither party shall have any further obligation or rights hereunder, except for those that may survive the termination of this Option to Purchase. The Initial Option Payment and the Additional Option Payments shall be applied to the Purchase Price to be paid by Optionee to Optionor at closing.