Grant of Initial Option Sample Clauses

Grant of Initial Option. The Optionor hereby grants to the Optionee the sole and exclusive right and option, in accordance with the other provisions of this Article 3, to acquire in three stages an Initial Interest of up to 75%, free and clear of all Encumbrances except for those described in Schedule A.
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Grant of Initial Option. The Company hereby grants to Optionee the right, privilege and option (“Initial Option”) to purchase 2,000,000 shares of the Company’s common stock (“Common Stock”) at an exercise price equal to $0.05 per share, the fair market price of the Company’s common stock on the Effective Date. The Initial Option shall expire on the tenth anniversary of the Effective Date (the “Expiration Date”).
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Grant of Initial Option. Upon payment by Purchaser of $12,500.00, (the “Initial Option Payment”) Owner grants to Purchaser the option to purchase the Property for the Purchase Price. The term of the option commences upon execution of this agreement by all parties, and shall continue through a date 15 calendar months from the date of execution of this agreement by Owner. (the “Option Period”). This is an exclusive option.
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Grant of Initial Option. Lessor hereby grants to Lessee an option (the “Initial Option”) to extend the Term of this Lease for an additional term of five (5) years (the “Initial Option Term”), with all terms, covenants and conditions of this Lease unmodified and in full force and effect except for Minimum Monthly Rent, which shall be as set forth below. In order to exercise the Initial Option, Lessee must give Lessor written notice of its intention to do so (“Initial Option Notice”) on or before February 28, 2014. In the Initial Option Notice, Lessee shall have the right to specify an amount of square footage up to a total of 241,808 square feet that Lessee will lease in the event that, in response to the Initial Option Notice, Lessor opts to construct the Building Addition (or portion thereof) and relocate a portion of the Premises thereto in accordance with the provisions of Section 55.2.
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Grant of Initial Option. Subject to the terms and conditions set forth below in this Agreement, the Corporation hereby grants to Participant an option (the "Option"), exercisable from and after this date, to purchase Twenty Thousand (20,000) shares of the Corporation's common stock ("Shares") at a price of Six Dollars and Seventy-Five Cents ($6.75) per share ("Exercise Price").
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Grant of Initial Option. Xxxxxxx hereby grants to Osisko the exclusive and irrevocable option (the “Option”) to earn a 50 % Participating Interest, by (a) contributing to the Venture, subject to Section 11.1, Expenditures in an amount totaling $ 70,000,000 to fund Exploration and, as the case may be Exploration and Development activities on or for benefit of the Project during a four (4)-year period commencing as of the Effective Date (the “Option Period”) and scheduled as follows : Schedule of Expenditures Cumulative Minimum Expenditures On or before the first anniversary of the Effective Date $ 15,000,000 (firm commitment) On or before the second anniversary of the Effective Date $ 30,700,000 On or before the second anniversary of the Effective Date $ 54,300,000 On or before the fourth anniversary of the Effective Date $ 70,000,000 and (b) providing Xxxxxxx advances as follows, provided that such unsecured advances shall be more fully described and evidenced in separate loan agreements (the “Loan Agreements”) :
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Grant of Initial Option. The Seller hereby grants to the Purchaser the option to purchase the Initial Shares at the purchase price described in Section 1.04 below (the “Initial Option”). The Purchaser may exercise the Initial Option, in whole and not in part, from 9:30 a.m. prevailing local time in New York City on the Effective Date through 4:00 p.m. prevailing local time in New York City on the applicable Expiration Date, by delivery of a notice (an “Exercise Notice”) to the Seller by email as follows: j.xxxxxx@xxxx.xxx, with a copy to sxx@xxxxxx.xxx, on the date of exercise, to be accompanied by a phone call to the Seller as follows: Jxxx Xxxxxx at 200-000-0000 or Sxxxxxx Xxxxxx at 400-000-0000, indicating that such notice has been sent. Any Exercise Notice shall specify (i) the delivery method for the shares to be delivered to the Purchaser, (ii) the closing date for the transfer of the shares (the “Closing Date”) and (iii) the location of the closing of such sale.
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Grant of Initial Option. The Corporation hereby grants to the Optionee the right and option to purchase up to an aggregate of Ninety Thousand (90,000) Shares (subject to adjustment as provided in Paragraph 6 hereof), on the terms and conditions set forth herein (hereinafter the “Option”). The Optionee acknowledges that the Option will not be an “incentive option” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). This Option is not being issued pursuant to the Corporation’s 2012 Equity Incentive Plan; provided, however, that this Option is granted as a material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4).
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Related to Grant of Initial Option

  • Grant of Option The Corporation hereby grants to Optionee, as of the Grant Date, an option to purchase up to the number of Option Shares specified in the Grant Notice. The Option Shares shall be purchasable from time to time during the option term specified in Paragraph 2 at the Exercise Price.

  • Grant of Options The Company hereby grants Optionee the right and option ("Option") to purchase the above described Twenty Million (20,000,000) shares of Common Stock, on the terms and conditions set forth herein and subject to the provisions of the Form S-8 registration statement in exchange for services provided by Employee to the Company, the options shall vest immediately upon the exercise hereof.

  • Option Term This option shall have a term of ten (10) years measured from the Grant Date and shall accordingly expire at the close of business on the Expiration Date, unless sooner terminated in accordance with Paragraph 5 or 6.

  • Option Right Landlord hereby grants to the originally named Tenant herein (“Original Tenant”), and its “Permitted Assignees”, as that term is defined in Section 14.8, below, one (1) option to extend the Lease Term for a period of five (5) years (the “Option Term”), which option shall be irrevocably exercised only by written notice delivered by Tenant to Landlord not more than twelve (12) months nor less than nine (9) months prior to the expiration of the initial Lease Term, provided that the following conditions (the “Option Conditions”) are satisfied: (i) as of the date of delivery of such notice, Tenant is not in default under this Lease, after the expiration of any applicable notice and cure period; (ii) Tenant has not previously been in default under this Lease, after the expiration of any applicable notice and cure period, more than twice in the twelve (12) month period prior to the date of Tenant’s attempted exercise; and (iii) the Lease then remains in full force and effect. Landlord may, at Landlord’s option, exercised in Landlord’s sole and absolute discretion, waive any of the Option Conditions in which case the option, if otherwise properly exercised by Tenant, shall remain in full force and effect. Upon the proper exercise of such option to extend, and provided that Tenant satisfies all of the Option Conditions (except those, if any, which are waived by Landlord), the Lease Term, as it applies to the Premises, shall be extended for a period of five (5) years. The rights contained in this Section 2.2 shall be personal to Original Tenant and any Permitted Assignees, and may be exercised by Original Tenant or such Permitted Assignees (and not by any other assignee, sublessee or other “Transferee,” as that term is defined in Section 14.1 of this Lease, of Tenant’s interest in this Lease).

  • Additional Options The NYS Contract Price for Additional Options offered under the Contract in accordance with Section III.2.7 Additional Options, shall be the Additional Options NYS Discount listed on the Contract Pricelist, or higher, applied to the MSRP on the current OEM Data Book or Contractor-Published Pricelist, as applicable. See Section III.1.2

  • Option Rights Except as provided below, the Option shall be valid for a term commencing on the Grant Date and ending 10 years after the Grant Date (the "EXPIRATION DATE").

  • Option Grant The Company hereby grants to the Optionee on the terms and conditions of this Agreement the right and the option (the “Option”) to purchase all or any part of shares of the Company’s Class A Common Stock at a purchase price of $ per share. The terms and conditions of the Option grant set forth in attached Exhibit A are incorporated into and made a part of this Agreement. The Option is intended to be an Incentive Stock Option as defined in Section 422 of the Internal Revenue Code of 1986, as amended.

  • Stock Option Grant Subject to the provisions set forth herein and the terms and conditions of the Plan, and in consideration of the agreements of the Participant herein provided, the Company hereby grants to the Participant an Option to purchase from the Company the number of shares of Common Stock, at the exercise price per share, and on the schedule, set forth above.

  • Grant of Stock Option The Company hereby grants the Employee the Option to purchase all or any part of an aggregate of 50,000 shares of Common Stock (the "Option Shares") on the terms and conditions set forth herein and subject to the provisions of the Plan.

  • Renewal Options The State requires two (2) five (5) year options to renew with thirty (30) days advance written notice to the Landlord to exercise such option based on the terms and conditions defined in the Initial Lease. Please outline the rental rate for said option periods.

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