Conditional Option Sample Clauses

Conditional Option. (i) The Company hereby grants to the Investor:
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Conditional Option. (i) The Company hereby grants to the Investor twenty (20) conditional options (each, a “Conditional Option” and collectively, the “Conditional Options”), each to purchase 700,000 shares of the Company Common Stock (such shares, the “Option Shares”), for a purchase price of $10.25 per share (the “Option Price”), subject to the terms and limitations set forth herein. For the avoidance of doubt, each Conditional Option may only be settled in shares of Company Common Stock and no net settlement or cash settlement shall be permitted hereunder. In the event that, prior to exercise of a Conditional Option, the Company changes the number of shares of Company Common Stock issued and outstanding as a result of a reclassification, stock split (including a reverse split), stock-based dividend or distribution, merger, subdivision, combination or other similar transaction, the number of Option Shares and the number of shares of Company Common Stock contained in each Conditional Option shall be adjusted appropriately to provide to the Investor the same economic and ownership effect as contemplated by this Agreement prior to such reclassification, split, dividend, distribution, merger, subdivision, combination or similar transaction.
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Conditional Option. The Company hereby grants the Purchaser a Conditional Option (the “Conditional Option”) to purchase additional Company Common Stock in an amount equal to one third of the New Shares rounded up or down, as the case may be, to the nearest whole share. The exercise price of the Conditional Option shall be equal to the Initial Share Consideration plus $0.125. All other terms of the Conditional Option with respect to, adjustments in the exercise price and number of shares of Company Common Stock purchasable pursuant to the Conditional Option shall be the same as set forth in the Purchaser’s Option. The Conditional Option shall be exercisable for 365 days from the Closing Date provided, however, that if the Company Common Stock trades above US$6.50 for 20 Trading Days out of any 30 Trading Day period (for the purposes of this Section 6.08, Trading Day shall be defined as any Business Day during which the Company Common Stock is available to trade on the American Stock Exchange), the Conditional Option shall terminate 15 Business Days after the 20th Trading Day during which the Company Common Stock traded above US$6.50. Notwithstanding anything to the contrary in this Section 6.08, in no event shall the Conditional Option terminate earlier than 120 days from the Closing Date.
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Conditional Option. 4.1 Transense shall not grant any further non-exclusive licenses of the Products at any time before the third anniversary of this Agreement unless it has first served notice on SmarTire that Transense has received a written bona fide offer ("an Offer") from a third party for the grant of such a licence ("a Notice"). An Offer must involve payments to Transense of at least ** payable within a 12 month period from the date of the Offer; if less, Transense will not grant such a licence and the provisions of this Section 4 will not apply.
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Conditional Option. The Company hereby grants the Purchaser a Conditional Option (the “Conditional Option”) to purchase additional Company Common Stock in an amount equal to one third of the New Shares rounded up or down, as the case may be, to the nearest whole share. The exercise price of the Conditional Option shall be equal to the Initial Share Consideration plus $0.125. All other terms of the Conditional Option with respect to, adjustments in the exercise price and number of shares of Company Common Stock purchasable pursuant to the Conditional Option shall be the same as set forth in the Purchaser’s Option. The Conditional Option shall be exercisable for 120 days from the Closing Date.
Sample 1
Conditional Option. The Company hereby grants the Purchaser a Conditional Option (the "Conditional Option") to purchase additional Company Common Stock in an amount equal to one third of the New Shares rounded up or down, as the case may be, to the nearest whole share. The exercise price of the Conditional Option shall be equal to the Initial Share Consideration plus $0.
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Conditional Option. Seller acknowledges the existence of an Exclusive Conditional Option Purchase Agreement with Buyer, subject to the terms and conditions thereof, all as more particularly described in the Agreement.
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Related to Conditional Option

  • Additional Options The NYS Contract Price for Additional Options offered under the Contract in accordance with Section III.2.7 Additional Options, shall be the Additional Options NYS Discount listed on the Contract Pricelist, or higher, applied to the MSRP on the current OEM Data Book or Contractor-Published Pricelist, as applicable. See Section III.1.2

  • Second Option If Tenant exercises the First Option, Landlord grants Tenant an additional option (the "Second Option") to extend the term of the Lease for one (1) additional term of five (5) years (the "Second Option Term"). The Second Option applies only to the Premises and is on the following conditions:

  • Vested Options On the next regularly scheduled payroll date of the Surviving Corporation occurring more than five (5) Business Days but less than twenty (20) Business Days following the Closing Date, the Surviving Corporation shall pay to each holder of a Vested Option (other than with respect to Non-Withholding Options) for whom Acquiror has received a duly executed Option Termination Agreement an amount in cash equal to the number of shares of Common Stock subject to such Vested Option multiplied by an amount equal to the difference between (a) the Per Share Closing Consideration, minus (b) the exercise price per share under such Vested Option, minus (c) such holder’s applicable Percentage of the Escrow Amount in respect of such Vested Option (the “Closing Options Payout Amount”). Following the Effective Time, the Paying Agent shall cause the applicable Closing Options Payout Amount to be paid to each holder of a Vested Option which is a Non-Withholding Option for whom Acquiror has received a duly executed Option Termination Agreement. The Closing Options Payout Amount payable to each holder of a Vested Option shall be set forth opposite such holder’s name on the Payment Schedule (such consideration subject to adjustment as provided herein and any applicable withholding Taxes). In the event of a conflict between the Payment Schedule and the provisions of this Agreement, the Payment Schedule shall control. Notwithstanding anything to the contrary herein or in the Company’s Amended and Restated Certificate of Incorporation (as amended as of the date hereof) (the “Restated Certificate”), Acquiror, Merger Sub, the Surviving Corporation, the Equityholder Representative and the Paying Agent shall be entitled to rely on the Payment Schedule as conclusive evidence of amounts payable to the holders of Vested Options pursuant to this Agreement. Each holder of a Vested Option, subject to receipt of a duly executed Option Termination Agreement, shall be entitled to receive with respect to each Vested Option subject thereto, such holder’s Percentage of the Earnout Payments, as and when such payments are required to be made, which amount shall be paid on the same schedule and on the same terms and conditions as apply to the Stockholders generally.

  • Manner of Exercising Option (a) In order to exercise this option with respect to all or any part of the Option Shares for which this option is at the time exercisable, Optionee (or any other person or persons exercising the option) must take the following actions:

  • Put Option The Company hereby grants to Lender an option (the “Put Option”) to sell all or any portion of the Issued Shares (the “Put Shares”) to the Company for a total purchase price of $195,000, pro-rated for any portion thereof (the “Put Price”). The Put Option may be exercised with respect to any amount that is equal to or less than the entire balance of the outstanding Put Shares, at any time during the earlier to occur of the following Put Option exercise periods (the “Put Period”): (a) the ten (10) Business Day period commencing on the first anniversary hereof, or (b) the ten (10) Business Day period commencing on the date which is nine (9) months after the date that the registration statement for the registration of the Issued Shares is declared effective by the SEC . If not exercised during the Put Period, the Put Option shall terminate and shall be of no further force or effect. The Put Option shall be exercisable by Lender’s delivery of written notice to the Company (the “Put Notice”). The Put Notice shall specify the date on which the closing of the purchase of the Put Shares shall take place (the “Put Closing Date”), which such date shall be no earlier than ten (10) days but no later than thirty (30) days from the date of the Put Notice. On or before the Put Closing Date, Lender will deliver to the Company the certificate(s) representing the Put Shares (duly endorsed for transfer by Lender or accompanied by duly executed stock powers in blank) and the Company shall tender to Lender the Put Price in cash by wire transfer of immediately available funds to an account at a bank designated by Lender. The Company and Lender acknowledge and agree that the Company’s obligation to purchase the Issued Shares from Lender pursuant to the Put Option is an Obligation secured by the Collateral and any related guarantees under the Loan Documents, and for so long as the Put Option is outstanding and, if exercised, the Put Price is not yet tendered, the Lender’s right to receive the Put Price shall be secured by the Collateral and any related guarantees under the Loan Documents. Lender’s right to exercise the Put Option shall not be transferred or assigned to any third party.

  • Renewal Options The State requires two (2) five (5) year options to renew with thirty (30) days advance written notice to the Landlord to exercise such option based on the terms and conditions defined in the Initial Lease. Please outline the rental rate for said option periods.

  • Call Option The Company shall have the option to "call" the Warrants (the "Warrant Call"), in accordance with and governed by the following:

  • Renewal Option This Contract may be renewed under the same terms and conditions, subject to the approval of the Commissioner of the Department of Administration and the State Budget Director in compliance with IC § 5-22-17-4. The term of the renewed contract may not be longer than the term of the original Contract.

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