Effect of Exercise of Option. The exercise by Buyer of the option herein shall have no effect on any claims or controversies with respect to the Coal Sales Agreement except as provided herein.
Effect of Exercise of Option. Upon the exercise of the Option, Seller and Buyer shall be bound by an agreement for the sale and purchase of the Property upon the te1ms and subject to the conditions set forth in this Agreement.
Effect of Exercise of Option. From and after the Notice Date, this Agreement and the Notice will together constitute a binding and enforceable contract between the Owner and the Trust Committee for the purchase and sale of the Property in accordance with the terms of Article 9.
Effect of Exercise of Option. On the valid exercise of an Option, the Authority shall grant the Lease to which such Option relates to the Option Holder who shall accept such Lease, in each case on the terms contained in the Third Schedule.
Effect of Exercise of Option. Notwithstanding any other provision of this Agreement, if Seller shall exercise Seller's Option to Terminate, the Escrow Holder shall refund to Buyer all deposits theretofore paid by Buyer pursuant to this Agreement and Seller shall pay any fees charged by Escrow Holder as the result of the cancellation of escrow.
Effect of Exercise of Option. (a) Upon valid exercise of the Option as provided in Section 9.9, the MGI Common Shares in respect of which the Option are validly exercised shall be deemed to have been issued, and Discreet shall be deemed to have become the holder of record of such securities on the date of such exercise (herein called the "OPTION EXERCISE DATE"), unless the transfer books of MGI shall be closed by law on the said date of such valid exercise, in which case such securities shall be deemed to have been issued, such person shall be deemed to have become the holder of record of such securities and the Option Exercise Date shall be deemed to be, on the date on which such transfer books are next reopened. The MGI Common Shares issued upon the valid exercise of the Option shall be entitled only to dividends declared in favour of shareholders of record on and after the Option Exercise Date from which date such shares will for all purposes be and be deemed to be issued and outstanding as fully paid and non-assessable MGI Common Shares.
Effect of Exercise of Option. (a) Where a Remaining Shareholder gives a notice under clause 15.1 (Minority Seller), the Founding Shareholder must use its best endeavours to cause the Third Party to purchase the Shares of that Minority Seller for the price and on the terms set out in the Tag Along Notice.
Effect of Exercise of Option. On the Closing, Triband shall acquire and own the Property, the Underlying Agreements and the property subject to the Underlying Agreements, subject to the Royalty the percentage rate of which described in Section 5.3 shall be reduced to two percent (2%), provided, however, that if concurrently with or before the Closing Triband has exercised the Royalty Option, the Royalty shall terminate.
Effect of Exercise of Option. The other provisions of this Leasehold Improvements Agreement notwithstanding, in the event that Tenant exercises the "First Option" (as that term is defined in the Option Agreement) in accordance with the provisions of the Option Agreement, Landlord shall assign to Tenant the agreements required to be so assigned by the Option Agreement, and Landlord may thereafter cease to perform any obligation of Landlord pursuant to this Leasehold Improvements Agreement with respect to the design and construction of any improvements on the Phase I Land or the Phase II Land other than any obligations of Landlord with respect to obtaining Necessary Approvals.
