EXPIRY OF OPTION AND SUBSEQUENT RIGHTS Sample Clauses

EXPIRY OF OPTION AND SUBSEQUENT RIGHTS. In the event that by February 28th, 2000, the Lessee has not exercised the expansion rights granted pursuant to section 39, the Lessee shall have a right of first opportunity on the CNX Expansion Space or any portion thereof which then remains available. Said right of first opportunity shall expire on June 30th, 2000. By virtue of such right of first opportunity the Lessor agrees to offer, in writing, to the Lessee on or about March 1st, April 1st, May 1st June 1st and June 25th, 2000 any such space that is then available for leasing. Upon receipt of each of Lessor’s notice the Lessee shall have a maximum of five (5) business days therefrom to advise Lessor of its interest in leasing any or all of such space (the minimum area that Lessee may exercise such right upon being four thousand square feet (4,000 sq. ft.) of rentable area). Failure by the Lessee to exercise its right for any such space on any prior date will not prejudice its right over that same space if it is still available on any subsequent date, it being understood that Lessor’s notice shall include all space in the above mentioned area available on each one of the given dates provided for herein above, including that over which the Lessee has not previously exercised its right. Leasing of any such space shall be upon the same terms and conditions as provided for under this Offer (except for the leasehold improvement allowance which shall be pro-rated to the shorter term). In any interim period between the five (5) periods of exercise of this right of first opportunity provided for herein above, Lessor may dispose of any space not leased by the Lessee without consulting the Lessee in any way. However, should Lessor fail to advise Lessee on or about any one of the given dates provided for herein above, Lessor shall, prior to accepting during the relevant period any offer from a third party for any such space of a minimum of four thousand square feet (4,000 sq. ft.) of rentable area, provide notice of such offer stating the essential terms and conditions of the proposed offer, including rent and additional rent, and Lessee shall then have a period of three (3) business days to lease such space on the terms and conditions stated in the notice, failing which the rights granted to Lessee by the present section shall become null and void and of no effect whatsoever as it applies to the space indicated in such notice. The aforesaid right of first opportunity shall also avail as provided for herein ab...
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Related to EXPIRY OF OPTION AND SUBSEQUENT RIGHTS

  • Expiration of Options Except as otherwise provided in Section 5 or 6 of the Management Stockholder's Agreement, the Options may not be exercised to any extent by the Optionee after the first to occur of the following events:

  • Term of Options Unless the Options terminate earlier pursuant to the provisions of this Agreement or the Plan, the Options shall expire on the seventh (7th) anniversary of the Grant Date (“Option Expiration Date”).

  • Exercisability of Options Options granted under the Plan shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall determine in its sole discretion. After an Option is granted, the Committee, in its sole discretion, may accelerate the exercisability of the Option.

  • Exercisability of Option Unless otherwise provided in this Agreement or the Plan, this Option shall entitle the Participant to purchase, in whole at any time or in part from time to time, to the extent the Option is vested in accordance with the vesting schedule herein, the Shares subject to this Option, and each such right of purchase shall be cumulative and shall continue, unless sooner exercised or terminated as herein provided, during the remaining Option Period.

  • Xxxxx of Option The Plan Administrator of the Company hereby grants to the Optionee named in the Notice of Grant attached as Part I of this Agreement (the "Optionee") an option (the "Option") to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the "Exercise Price"), subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject to Section 15(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail. If designated in the Notice of Grant as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section 422(d) it shall be treated as a Nonstatutory Stock Option ("NSO").

  • Conditions to Purchase of Option Shares In the event that the Underwriters exercise their option provided in Section 3(b) hereof to purchase all or any portion of the Option Shares, the representations and warranties of the Company contained herein and the statements in any certificates furnished by the Company hereunder shall be true and correct as of each Date of Delivery and, at the relevant Date of Delivery, the Representative shall have received:

  • Expiration of Option The Option may not be exercised to any extent by anyone after the first to occur of the following events:

  • Conditions to Purchase of Option Securities In the event that the Underwriters exercise their option provided in Section 2(b) hereof to purchase all or any portion of the Option Securities, the representations and warranties of the Company contained herein and the statements in any certificates furnished by the Company and any of its subsidiaries hereunder shall be true and correct as of each Date of Delivery and, at the relevant Date of Delivery, the Representatives shall have received:

  • Term of Option This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement.

  • Subsequent Rights Offerings In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

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