Conditions of Option. The Options may be exercised immediately upon vesting, subject to the terms and conditions as set forth in this Agreement.
Conditions of Option. The Extension Option is subject to the following conditions:
Conditions of Option. The Manufacturer's rights to purchase the Rubber Crumb Output pursuant to this Option shall be subject to fulfillment of the following condition:
Conditions of Option. The Extension Option may be exercised only by written notice delivered by Tenant to Landlord as provided in Subsection 2.5.3 and only if, as of the date of delivery of the notice, Tenant is not in material default under this Lease after the expiration of any applicable cure periods. If Tenant properly exercises the Extension Option, the Lease Term, as it applies to the entire Premises then leased by Tenant, shall be extended for the Option Term. If Tenant exercises the first Extension Option, Landlord shall, prior to the commencement of the first option term, repaint the interior of the Premises and install new carpeting throughout the Premises in a manner acceptable to Tenant.
Conditions of Option. The Extension Option is subject to the following conditions: (i) the Extension Option may be exercised only by written notice delivered by Subtenant to Sublandlord as provided in this Section 3.2 and only if, as of the date; the Option Term would commence, no Event of Default has occurred which is continuing; (ii) the rights contained in this Section 3.2 may be exercised by the originally named Subtenant or by any assignee of Subtenant's interest in this Sublease if the assignment has been approved by Sublandlord or is otherwise permitted in Section 12 below; and (iii) if Subtenant properly exercises the Extension Option, the Term of this Sublease shall be extended by the Option Term. The Option Term shall be on all of the terms and conditions of the original Term, except that this Section 3.2 and Exhibit "E" shall have no application thereto.
Conditions of Option. 3.1 The Option shall, subject to earlier exercise being permitted under clauses 3.3 or 5, vest over the following proportions of shares on the following dates:
Conditions of Option. The Options may be exercised immediately upon vesting, subject to the terms and conditions as set forth in this Agreement. EXERCISE OF OPTION DATE EXERCISABLE. The Options shall become exercisable by Optionee in accordance with the vesting terms as above.
Conditions of Option. Each Option may only be exercised during the period commencing on the date it may initially be exercised as set forth in Section 2 hereinbelow, and otherwise subject to the terms and conditions as set forth in this Agreement and the 1993 Plan.
Conditions of Option. Optionee shall have the right to repurchase those units solely for the purpose of funding its bonus plan for management. This option can only be exercised for that purpose. If this option is exercised, Owner will sell units on a pro rata basis based upon their respective ownership interests. The Option can be exercised at any time during the next year and the total of shares available to Optionee shall not exceed 200,000 units.
