Maximum Option Period Sample Clauses
The Maximum Option Period clause defines the longest duration for which an option—such as to purchase, lease, or extend an agreement—can be exercised under a contract. This clause sets a clear time limit, after which the option expires and can no longer be used, regardless of any other circumstances. For example, if a tenant has an option to renew a lease, the clause might specify that this option must be exercised within five years. Its core practical function is to provide certainty and prevent indefinite or open-ended option rights, ensuring both parties know the exact timeframe within which decisions must be made.
Maximum Option Period. No Option shall be exercisable after the expiration of ten years from the date Option was granted. The Board, at the time of grant, may direct that an Option be exercisable for a period of less than such maximum period.
Maximum Option Period. The maximum period in which an Option may be exercised shall be determined by the Administrator on the date of grant, except that no Option that is an incentive stock option shall be exercisable after the expiration of ten years from the date such Option was granted. Notwithstanding the foregoing, any Option granted to any person then owning more than ten percent (10%) of the total combined voting power of all classes of shares of the Company, or of its parent or subsidiary corporation, must be exercised within five years from the date of the grant thereof. The terms of any Option that is an incentive stock option may provide that it is exercisable for a period less than such maximum period.
Maximum Option Period. The period in which an Option may be exercised shall be determined by the Committee on the date of grant; provided, however that an Incentive Stock Option shall not be exercisable after the expiration of 10 years from the date the Incentive Stock Option was granted.
Maximum Option Period. No Option shall be exercisable after the expiration of ten years from the date the Option was granted. For Ten Percent Shareholders no Option shall be exercisable after five (5) years from the date it is granted. The terms of any Option may provide that it is exercisable for a period less than such maximum period.
Maximum Option Period. The maximum period in which an Option may be exercised shall be ten years from the date such Option was granted. The terms of any Option may provide that it has a term that is less than such maximum period.
Maximum Option Period. The maximum period in which an Option may be exercised shall be determined by the Committee on the date of grant except that no Option shall be exercisable after the expiration of ten years from the date such Option was granted. The terms of any Option may provide that it is exercisable for a period less than such maximum period.
Maximum Option Period. The maximum period in which an Option may be exercised shall be one year from the date of grant unless the Administrator determines that a later expiration date is merited.
Maximum Option Period. The maximum period in which an Option may be exercised shall be ten years from the date such Option was granted. The maximum period in which an incentive stock option granted to a Ten Percent Stockholder may be exercised is the applicable period required by the Code, currently five years from the date such incentive stock option was granted. The terms of any Option may provide that it has a term that is less than such maximum period.
Maximum Option Period. The term during which an Option may be exercised shall be determined by the Board; provided, however, that in no event shall an Option be exercisable more than ten (10) years from the date it is granted.
Maximum Option Period. The maximum period in which an Option may be exercised is ten years from the Date of Grant. The terms of any Option my provide that it is exercisable for a period less than such maximum period.