Corporate Dissolution. A dissolution or liquidation of MCGR▇▇▇ ▇▇▇ll cause this OPTION to terminate; provided that DOE shall, in such event, be given at least thirty (30) days prior written notice of such event (which notice, if mailed, shall be deemed given at the time of mailing) and shall have the right until such event to exercise this OPTION to the extent then exercisable; provided further that the Board of Directors may, in its discretion, in the event of any such dissolution or liquidation, accelerate the accrual of exercise rights in such manner as the Board of Directors shall deem appropriate.
Appears in 2 contracts
Sources: Director's Non Qualified Stock Option Agreement (McGrath Rentcorp), Director's Non Qualified Stock Option Agreement (McGrath Rentcorp)