Common use of Grant of Option and Exercise Price Clause in Contracts

Grant of Option and Exercise Price. Subject to the Optionee’s performance of its obligations hereunder and agreement to the terms hereof, including but not limited to Section 2.1 above, CADIZ hereby grants to Optionee an option to acquire Conserved Water along with the following interests as set forth in Exhibit “B” (the “Price Schedule”) (collectively, the “Option”):

Grant of Option and Exercise Price. Subject to the Optionee’s performance of its obligations hereunder and agreement to the terms hereof, including but not limited to Section 2.1 aboveexecution of the Environmental Cost Sharing Agreement, CADIZ hereby grants to Optionee an option to acquire Conserved Water along with the following interests as set forth in Exhibit “BC” (the “Price Schedule”) (collectively, the “Option”):