Authority of Optionor; Grant of Option Sample Clauses

Authority of Optionor; Grant of Option. Optionor hereby represents to Optionee that Optionor is the contract purchaser of the Property and has absolute and full right and authority to execute and perform the terms of this Agreement — subject to execution of the Consent herein by the Contract Seller. In that regard, Optionor shall promptly (within ten (10) days) after execution of this Agreement, deliver to Optionee evidence reasonably satisfactory to Optionee showing Optionor’s ownership of the Property and authority to execute and perform the terms of this Agreement including Optionor’s authority to convey to Optionee good and marketable title to the Property as contemplated by this Agreement. Optionor hereby grants to Optionee the exclusive right and option to purchase the Property and Optionor agrees to sell the Property to Optionee upon the exercise of the option at any time during the Option Period, as hereinafter set forth, for a purchase price of Four Hundred Thirty-two Thousand Five Hundred Dollars ($432,500.00), payable on the terms, in the amounts, and subject to the adjustments and to all the other conditions as set forth in Paragraph 1.9 of this Agreement.
Sample 1
AutoNDA by SimpleDocs
Authority of Optionor; Grant of Option. Optionor hereby represents to Optionee that Optionor is the contract purchaser of the Property and has absolute and full right and authority to execute and perform the terms of this Agreement — subject to execution of the Consent herein by Contract Seller. In that regard, Optionor shall promptly (within ten (10) days) after execution of this Agreement, deliver to Optionee evidence reasonably satisfactory to Optionee showing Optionor’s ownership of the Property and authority to execute and perform the terms of this Agreement including Optionor’s authority to convey to Optionee good and marketable title to the Property as contemplated by this Agreement. Optionor hereby grants to Optionee the exclusive right and options to purchase the Property and Optionor agrees to sell the Property to Optionee upon the exercise of the options at any time during the Option(s) Period, as hereinafter set forth, for a purchase price of Twelve Thousand Five Hundred Dollars ($12,500.00) per net surveyed acre with the exact number of acres to be determined by Survey prepared at Optionee’s expense, payable on the terms, in the amounts, and subject to the adjustments and to all the other conditions as set forth in Paragraph 2.8 of this Agreement.
Sample 1

Related to Authority of Optionor; Grant of Option

  • Grant of Option The Corporation hereby grants to Optionee, as of the Grant Date, an option to purchase up to the number of Option Shares specified in the Grant Notice. The Option Shares shall be purchasable from time to time during the option term specified in Paragraph 2 at the Exercise Price.

  • Grant of Options The Company hereby grants Optionee the right and option ("Option") to purchase the above described Twenty Million (20,000,000) shares of Common Stock, on the terms and conditions set forth herein and subject to the provisions of the Form S-8 registration statement in exchange for services provided by Employee to the Company, the options shall vest immediately upon the exercise hereof.

  • Xxxxx of Option The Plan Administrator of the Company hereby grants to the Optionee named in the Notice of Grant attached as Part I of this Agreement (the "Optionee") an option (the "Option") to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the "Exercise Price"), subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject to Section 15(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail. If designated in the Notice of Grant as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section 422(d) it shall be treated as a Nonstatutory Stock Option ("NSO").

  • Award of Option This Agreement evidences the grant to the Optionee of an option (the “Option”) to purchase [ ] shares of the Company’s Common Stock (the “Option Shares”). The Option is subject to the terms set forth herein, and in all respects is subject to the terms and provisions of the Plan, which terms and provisions are incorporated herein by this reference. Except as otherwise specified herein or unless the context herein requires otherwise, the terms defined in the Plan will have the same meanings herein.

  • Expiration of Option The Option may not be exercised to any extent by anyone after the first to occur of the following events:

  • Duration of Option The Option shall be exercisable to the extent and in the manner provided herein for a period of ten (10) years from the Grant Date (the "Exercise Term"); provided, however, that the Option may be earlier terminated as provided in Section 6 hereof.

  • Exercisability of Option Unless otherwise provided in this Agreement or the Plan, this Option shall entitle the Participant to purchase, in whole at any time or in part from time to time, to the extent the Option is vested in accordance with the vesting schedule herein, the Shares subject to this Option, and each such right of purchase shall be cumulative and shall continue, unless sooner exercised or terminated as herein provided, during the remaining Option Period.

  • Amendment of Option This Agreement and the terms of the Option may be amended by the Board or the Committee at any time (i) if the Board or the Committee determines, in its sole discretion, that amendment is necessary or advisable due to any addition to or change in the Code or in the regulations issued thereunder, or any federal or state securities law or other law or regulation, which change occurs after the Date of Grant and by its terms applies to the Option; or (ii) other than in the circumstances described in clause (i), with the consent of WGNB and the Grantee.

  • Grant of Stock Option The Company hereby grants the Employee the Option to purchase all or any part of an aggregate of 50,000 shares of Common Stock (the "Option Shares") on the terms and conditions set forth herein and subject to the provisions of the Plan.

  • 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.

Time is Money Join Law Insider Premium to draft better contracts faster.