Grant of Second Option. Provided that Tenant has exercised its First Option, Tenant shall have the option to extend the Term of this Lease for another five (5) year additional period (the "Second Option"); provided that Tenant is not in default under this Lease beyond any applicable notice and cure periods, at the time the Second Option is exercised, the First Option and the Second Option shall also be referred to herein separately as the "Option Term" and together as the "Option Terms".
Grant of Second Option. The Company hereby grants Continental an option (the "Second Option") to subscribe for issuance by the Company that number of fully-paid, non-assessable Ordinary Shares, such that following issuance of such shares Continental shall own sixty percent (60%) of the issued share capital of Company, on an as-converted basis, at the time of exercise (such Ordinary Shares the "Second Option Shares"). After the full exercise of the Second Option by Continental, CTVH shall own 40% of the issued share capital of the Company, while Continental shall own 60% of the issued share capital of the Company.
Grant of Second Option. (1) Subject to the satisfaction of the Second Option Conditions (or Seabridge waiving such conditions in writing), Seabridge hereby grants to Royal Gold an irrevocable option (the “Second Option”) to increase the Royalty Percentage by 0.75 percent (that is, to a total Royalty Percentage of two (2) percent), which option Royal Gold may exercise, in its sole discretion, as follows:
Grant of Second Option. 5.1 Subject to Alliance exercising the First Option, the Subsidiary hereby agrees to grant to Alliance the Second Option to acquire up to an additional 20% interest in the Class A shares by the purchase of 22 Class A Shares for a purchase price equal to 30% of Construction and Equipment Costs minus $1,350,000 (“Second Option Purchase Price”).
Grant of Second Option. 5.1 Subject to GF having exercised the First Option in accordance with Section 4.1, Argonaut hereby also grants to GF the exclusive right and option (the “Second Option”) to increase its interest by acquiring a further 40% Earned Interest in and to the Property bringing its total Earned Interest from 50% to 90% by paying to Argonaut an additional amount of (a) $5,000,000, in cash or, at the sole discretion of Argonaut common shares in the capital of GF, and (b) by delivering a NI 43-101 compliant pre-feasibility study on the Property in a form acceptable to Argonaut acting reasonably (the “Pre-Feasibility Study”) prepared by a Qualified Person independent of GF and Argonaut, during a period commencing on the delivery of the First Option Exercise Notice and ending December 31, 2026 (the “Second Option Period”), as follows:
Grant of Second Option. On the First Option Exercise Date and upon and subject to the terms and conditions hereof, the Nubian Parties shall be deemed to have granted to Athena the sole, exclusive and irrevocable right and option to acquire an additional 90% Interest, for an aggregate 100% Interest (the "Second Option"), free and clear of all Encumbrances other than Permitted Encumbrances.
Grant of Second Option. The members of the CSG Group hereby grant to Xxxxxx the sole and exclusive right and option, in accordance with the other provisions of this Article 5, on or before the 5th anniversary of the Second Option Commencement Date (“Second Option Deadline”), to acquire an additional 26% Earned Interest, for an aggregate 75% Earned Interest, free and clear of all Encumbrances except the Existing Royalties (“Second Option”).
Grant of Second Option. Optionor hereby grants to Optionee an option and right (the "Second Option") to purchase the Phase I Option Property at the price and on both the terms and conditions set forth in this Section 3 and the terms and conditions set forth in the remainder of this Option Agreement (other than in Sections 2 and 4, the provisions of which shall not be applicable to the Second Option herein granted). Subject to the provisions of Section 21, Optionor shall, however, be obligated to construct the improvements required to be constructed by Optionor pursuant to the Leasehold Improvements Agreement prior to the closing of the Escrow, as more fully provided in Section 3.8, and such improvements shall be deemed to be a part of the Phase I Option Property upon the completion of such construction.
Grant of Second Option. 14 3.2. Term of Second Option....................................................................... 14 3.3. Method of Exercise of Second Option......................................................... 15 3.4. Effect of Exercise of Second Option......................................................... 15 3.5. Amount of Second Option Purchase Price...................................................... 15 3.6. Agreement of the Parties as to Second Option Purchase Price................................. 16 3.7. Payment of Second Option Purchase Price..................................................... 16 3.8.
Grant of Second Option. Provided that Lessee has exercised the First Option (and such exercise has not been deemed withdrawn by virtue of Lessee’s failure to provide evidence to Lessor of its satisfaction of the Net Worth Requirement), Lessor hereby grants to Lessee a second option (the “Second Option”) to extend the Term of this Lease for an additional term of five (5) years (the “Second 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 calculated in accordance with Sections 55.6 and 55.7, below. In order to exercise the Second Option, Lessee must give Lessor written notice of its intention to do so (“Second Option Notice”) on or before July 1, 2019.
