Assignment Option Sample Clauses

Assignment Option. The mort­ gagee has the option to assign, transfer and deliver to the Commissioner the original credit instrument and the in­ sured mortgage securing the same, pro­ vided such mortgage is not in default at the expiration of 20 years from the date it was endorsed for insurance. When such option has been exercised the obli­ gation of the mortgagee to pay the premium charges shall cease.
Sample 1
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Assignment Option. For the consideration set forth below, Sublandlord hereby grants to Subtenant the option to acquire all of Sublandlord's right, title and interest in the Premises and the Master Occupancy Agreement effective as of the date which is five (5) years after the date hereof. To exercise such option, Subtenant shall give Sublandlord written notice of such exercise on or prior to the date which five (5) years after the date hereof. Notwithstanding the foregoing, Sublandlord shall have the right to require Subtenant to exercise such option at any time during the term hereof upon thirty (30) days prior written notice in which event such assignment shall occur on or before the date which is forty-five (45) days after Sublandlord's delivery of such notice. The consideration for such option shall equal Four Hundred and Ninety Thousand Dollars ($490,000). Four Hundred and Forty Thousand Dollars ($440,000) of such option consideration shall be nonrefundable and shall be payable to Sublandlord, in cash, on the date hereof with the remaining Fifty Thousand Dollars ($50,000) to be payable, in cash, on the effective date of the assignment, subject to Subtenant's offset rights set forth in Section 10 of the Agreement. Sublandlord shall execute and deliver to Subtenant any and all documents reasonably requested by Subtenant to evidence the assignment of all of Sublandlord's right, title and interest in the Premises and under the Master Occupancy Agreement to Subtenant at the time of such assignment. The obligations of this Section 9 shall survive the expiration or early termination of this SOA. Upon such assignment, this SOA shall be null and void.
Sample 1
Assignment Option i. On April 1, 1999, or upon such date LASX accelerates technology enhancement funding in accordance with Section 5(b)(viii) of this Agreement and LASX pays to XLV all sums required under Section 5 of this Agreement, whichever date occurs first, and extending for a period of ninety (90) days thereafter, provided LASX has exercised the Exclusive License Option (as hereinafter defined), LASX shall have the right to receive an assignment of the XLV Technology (as hereinafter defined) from XLV, such right to be exercised at LASX's option (the "Assignment Option"). LASX may exercise the Assignment Option by providing XLV with written notice of LASX's desire to exercise the Assignment Option within the time frame specified above.
Sample 1
Assignment Option. REIT II shall have the option (the “Assignment Option”), in its sole discretion upon delivery of written notice to Xxxxx REF (the “Option Notice”) at any time on or after January 1, 2013 and before the expiration of the Transition Period (the “Option Notice Date”), to require Xxxxx REF to effect the WREAS II Assignment. As soon as reasonably practicable, but no later than twenty (20) days following the Option Notice Date, Xxxxx REF, WREAS II, and REIT II shall enter into (i) an Assignment and Assumption Agreement in the form attached hereto as Exhibit B, pursuant to which Xxxxx REF will transfer, convey and assign to REIT II all of the outstanding Equity Interests in WREAS II (the “Option Closing”) and (ii) a Consulting Agreement with respect to the provision of certain services currently provided by the Initial Term Advisory Agreement in the form attached hereto as Exhibit C. Notwithstanding the foregoing, it shall be a condition precedent to exercising the Assignment Option that REIT II has executed and delivered to Xxxxx REF the Renewal Advisory Agreement substantially in the form set forth on Exhibit D hereof on or before January 1, 2013. As of the date of the Option Closing, WREAS II shall, and Xxxxx REF shall cause WREAS II to, (i) have no obligations or liabilities to Xxxxx REF or its affiliates, (ii) have current assets that are not less than current liabilities (as finally determined in accordance with the Assignment and Assumption Agreement), and (iii) have no long term liabilities other than the Assumed Compensation Plans (as defined in the Assignment and Assumption Agreement).
Sample 1
Assignment Option. Per IFB, Page 1, Section 3, Assignment, the Lottery shall, subject to security review, allow the Contractor to assign payments under this contract for the purpose of third-party financing to: Princeton Capital 38 Wxxxxxxxxx Xx. Xxxxxxxxx Xxxxxxxx, XX 00000 Future assignments or sub-assignments shall be subject to Lottery approval.
Sample 1
Assignment Option. Seller and Buyer shall execute and deliver the Assignment and the Option. In addition, Seller shall prepare and Seller and Buyer shall execute such other conveyances on official forms and related documentation necessary to transfer the Assets to Buyer in accordance with requirements of governmental regulations; provided, however, that any such separate or additional conveyances required pursuant to this Section 11.4 or pursuant to Section 15.1 (i) shall evidence the conveyance and assignment of the Assets made or intended to be made in the Assignment, (ii) shall not modify or be deemed to modify any of the terms, reservations, covenants and conditions set forth in the Assignment, and (iii) shall be deemed to contain all of the terms, reservations and provisions of the Assignment, as though the same were set forth at length in such separate or additional conveyance.
Sample 1
Assignment Option. 3 1. On May 15, 1999, or upon such date as: (i) AXSI accelerates technology enhancement funding in accordance with Section V.B.3 of this Agreement and AXSI pays to XLV all sums required under Section V of this Agreement; and (ii) XLV delivers all components of the XLV Technology necessary for AXSI to produce Products on a commercialized basis, whichever date occurs first, and extending for a period of ninety (90) days thereafter, provided AXSI has exercised the Exclusive License Option, AXSI shall have the right to receive an assignment of the XLV Technology (as hereinafter defined) from XLV, such right to be exercised at AXSI's option (the "Assignment Option"). AXSI may exercise the Assignment Option by providing XLV with written notice of AXSI's desire to exercise the Assignment Option within the time frame specified above.
Sample 1
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Assignment Option. Notwithstanding anything to the contrary contained herein, in lieu of the purchase of the Assets and the assumption of the Assumed Liabilities pursuant to this Article I, Purchaser shall have the option (the "Assignment Option"), exercisable in Purchaser's sole discretion, to require Seller to assign to Purchaser all of Seller's rights pursuant to the Auction Agreement; provided that the Assignment Option shall expire upon closing under the Auction Agreement and, if Purchaser exercises the Assignment Option, Purchaser shall also assume Seller's obligation to pay the Purchase Price Remainder (as defined in the Auction Agreement) and shall pay Seller an amount equal to the Deposit (as defined in the Auction Agreement). Upon exercise of the Assignment Option, Purchaser shall be relieved of any obligation to pay Seller the Purchase Price under this Agreement. If Purchaser exercises the Assignment Option, Seller shall do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, all such further acts, deeds, documents, assignments, transfers, conveyances, powers of attorney and assurances as may be reasonably necessary or desirable to evidence such assignment.
Sample 1
Assignment Option 
Sample 1Sample 2

Related to Assignment Option

  • Assignment of Option Except as otherwise permitted by the Committee, the rights of the Optionee under the Plan and this Agreement are personal; no assignment or transfer of the Optionee’s rights under and interest in this Option may be made by the Optionee otherwise than by will, by beneficiary designation, by the laws of descent and distribution or by a qualified domestic relations order; and this Option is exercisable during his lifetime only by the Optionee, except as otherwise expressly provided in this Agreement. After the death of the Optionee, exercise of the Option shall be permitted only by the Optionee’s designated beneficiary or, in the absence of a designated beneficiary, the Optionee’s executor or the personal representative of the Optionee’s estate (or by his assignee, in the event of a permitted assignment) to the extent that the Option is exercisable on or after the date of the Optionee’s death, as set forth in Sections 2(a) and 3(d) hereof.

  • Assignment; Benefit This Agreement is personal and may not be assigned by Employee. This Agreement may be assigned by Employer and shall inure to the benefit of and be binding upon the successors and assigns of Employer.

  • Assignment, Etc The Holder may assign or transfer this Note to any transferee at its sole discretion. This Note shall be binding upon the Company and its successors and shall inure to the benefit of the Holder and its successors and permitted assigns.

  • Assignment of Award Except as otherwise permitted by the Committee and as provided in the immediately following paragraph, the Participant’s rights under the Plan and this Agreement are personal, and no assignment or transfer of the Participant’s rights under and interest in this Award may be made by the Participant other than by a domestic relations order. This Award is payable during his lifetime only to the Participant, or in the case of the Participant being mentally incapacitated, this Award shall be payable to his guardian or legal representative. The Participant may designate a beneficiary or beneficiaries (the “Beneficiary”) to whom the Award under this Agreement, if any, will pass upon the Participant’s death and may change such designation from time to time by filing with the Company a written designation of Beneficiary on the form attached hereto as Exhibit A, or such other form as may be prescribed by the Committee; provided that no such designation shall be effective unless so filed prior to the death of the Participant and no such designation shall be effective as of a date prior to receipt by the Company. The Participant may change his Beneficiary without the consent of any prior Beneficiary by filing a new designation with the Company. The last such designation that the Company receives in accordance with the foregoing provisions will be controlling. Following the Participant’s death, the Award, if any, will pass to the designated Beneficiary and such person will be deemed the Participant for purposes of any applicable provisions of this Agreement. If no such designation is made or if the designated Beneficiary does not survive the Participant’s death, the Award shall pass by will or, if none, then by the laws of descent and distribution.

  • Assignment; Transfer The Credit (or a portion thereof as earned) under this Agreement may be assigned to an “Affiliated Corporation” in accordance with RTC section 23663. As stated in RTC section 23689(i)(1), this Agreement shall not restrict, broaden, or alter the ability of Taxpayer to assign the Credit in accordance with RTC section 23663. In order to transfer this Agreement as a result of a sale or merger, prior written consent of GO- Biz must be obtained or the transfer will be void. Such transfer shall be permitted if GO-Biz determines that the transfer would further the purposes of the CCTC program and benefit California. Prior to GO-Biz consenting to the transfer, the new entity must disclose to GO-Biz the number of California full-time employees it employed at the time of acquisition or merger and any other information GO-Biz requests that applicants for a CCTC provide pursuant to a CCTC application.

  • FORM OF ASSIGNMENT AND ASSUMPTION AGREEMENT This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and between [the] [each]13 Assignor identified on the Schedules hereto as “Assignor” [or “Assignors” (collectively, the “Assignors” and each] an “Assignor”) and [the] [each]14 Assignee identified on the Schedules hereto as “Assignee” or “Assignees” (collectively, the “Assignees” and each an “Assignee”). [It is understood and agreed that the rights and obligations of [the Assignors] [the Assignees]15 hereunder are several and not joint.]16 Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by [the] [each] Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. For an agreed consideration, [the] [each] Assignor hereby irrevocably sells and assigns to [the Assignee] [the respective Assignees], and [the] [each] Assignee hereby irrevocably purchases and assumes from [the Assignor] [the respective Assignors], subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (a) all of [the Assignor’s] [the respective Assignors’] rights and obligations in [its capacity as a Lender] [their respective capacities as Lenders] under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of [the Assignor] [the respective Assignors] under the respective facilities identified below (including without limitation any letters of credit, guarantees, and swingline loans included in such facilities) and (b) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of [the Assignor (in its capacity as a Lender)] [the respective Assignors (in their respective capacities as Lenders)] against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (a) above (the rights and obligations sold and assigned by [the] [any] Assignor to [the] [any] Assignee pursuant to clauses (a) and (b) above being referred to herein collectively as, the “Assigned Interest”). Each such sale and assignment is without recourse to [the] [any] Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by [the] [any] Assignor.

  • Assignment and Benefit (a) This Agreement is personal to the Manager and shall not be assignable by the Manager, by operation of law, or otherwise without the prior written consent of the Company otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Manager’s heirs and legal representatives.

  • Stock Option Agreement Each grant of an Option under the Plan shall be evidenced by a Stock Option Agreement between the Optionee and the Company. Such Option shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The Stock Option Agreement shall specify whether the Option is an ISO or an NSO. The provisions of the various Stock Option Agreements entered into under the Plan need not be identical. Options may be granted in consideration of a reduction in the Optionee’s other compensation.

  • Assignment and Transfer The Member may assign or transfer in whole but not in part its limited liability company interest to a single acquiror.

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