Common use of EXPIRATION AND TERMINATION OF THE OPTION Clause in Contracts

EXPIRATION AND TERMINATION OF THE OPTION. The Option shall expire at 5:00 p.m. Houston, Texas, time on December 31, 2010, (the period from the date of this Agreement to the expiration date is defined as the option period (“Option Period”). In the event of the death of the Option Holder during the Option Period, the Option shall be exercisable by the Option Holder's estate or by the person who acquired the right to exercise the Option by bequest or inheritance during the Option Period and for a period of up to six months following the death of the Option Holder, if later.

EXPIRATION AND TERMINATION OF THE OPTION. The Option shall expire ------------------------------------------ at 5:00 p.m. Houston, Texas, time on December 31, 20102009, (the period from the date of this Agreement to the expiration date is defined as the option period (“"Option Period”"). In the event of the death of the Option Holder during the Option Period, the Option shall be exercisable by the Option Holder's estate or by the person who acquired the right to exercise the Option by bequest or inheritance during the Option Period and for a period of up to six months following the death of the Option Holder, if later.

EXPIRATION AND TERMINATION OF THE OPTION. The Option shall expire at 5:00 p.m. Houston, Texas, time on December 31January 15, 20102012, (the period from the date of this Agreement to the expiration date is defined as the option period (“Option Period”). In the event of the death of the Option Holder during the Option Period, the Option shall be exercisable by the Option Holder's estate or by the person who acquired the right to exercise the Option by bequest or inheritance during the Option Period and for a period of up to six months following the death of the Option Holder, if later.