Funding Option Clause Samples
A Funding Option clause defines the terms under which one or more parties may provide financial resources for a project, transaction, or agreement. This clause typically outlines the types of funding available, such as loans, equity investments, or grants, and specifies the conditions, timelines, and procedures for accessing these funds. By clearly establishing how and when funding can be obtained, the clause ensures that all parties understand their financial commitments and options, thereby reducing uncertainty and facilitating smoother project execution.
Funding Option. Commencing on the Effective Date and ending on December 30, 2015 (the “Subscription Term”), if BUSA determines, in its discretion, that it requires additional cash for the purpose of funding BUSA’s performance of the BUSA Contributed Services, Bioceres may elect, in its sole discretion (a “Funding Option”), to sell to Arcadia, and subject to Arcadia’s rights of refusal set forth in Section 2, Arcadia shall purchase from Bioceres, shares of Common Stock with an aggregate purchase price in any one calendar year not to exceed the lesser of (i) the value attributed to the BUSA Contributed Services for that year by Verdeca pursuant to the Work Plan (the “BUSA Annual Services Amount”) and (ii) the following amounts in each of the following years (each an “Annual Commitment Amount”):
Funding Option. The Funding Option shall have been conducted in all material respects in accordance with this Agreement and the Expiration Time shall have occurred.
Funding Option. The Company shall effectuate the Funding Option in accordance with the Plan and the terms of this Agreement.