No Exercise of Option Sample Clauses

No Exercise of Option. If the Fund does not receive a Stabilization Option Exercise Notice or a User Sale Option Exercise Notice, as applicable, within the applicable election period, the Option with respect to the ownership interests in the Property Entity owning the Stabilized Property or the Offer Property, as applicable, shall automatically terminate. If the Fund does not receive a Liquidation Option Exercise Notice within the thirty (30) day election period, this Agreement shall automatically terminate. If the Fund receives a Liquidation Option Exercise Notice with respect to some but not all of the Properties that remain subject to this Agreement, the Option with respect to the ownership interests in the Property Entities that are not indentified in the Liquidation Option Exercise Notice shall automatically terminate. Notwithstanding the foregoing, in the event that the Fund does not receive a User Sale Option Exercise Notice within the thirty (30) day election period, the Fund shall have the right, during the period commencing on the expiration of said thirty (30) day election period and ending on the later of: (i) sixty (60) days after the closing date set forth in the Offer or (ii) one hundred eighty (180) days after the date of said Offer (the “Offer Property Sale Period”), to sell the Offer Property to the User or any other person on terms that are no more favorable to the buyer than those set forth in the Offer, except the purchase price can be as low as ninety percent (90%) of the purchase price set forth in the Offer; provided that if the Fund is unable to sell the Offer Property during the Offer Property Sale Period on terms no more favorable to the buyer than those set forth in the Offer (other than purchase price), the Option with respect to the ownership interests in the Property Entity owning said Offer Property shall automatically revive and thereafter be subject to the terms and conditions of this Agreement. If the sale of the Offer Property happens as set forth in the Offer, the Operating Partnership or its designee shall receive from the Fund, in cancellation of such Option, twenty-five percent (25%) of the portion of the sale price that exceeds the sum of the Fund’s undepreciated cost of the Property and the sale closing costs (e.g., attorneys’ fees, recording fees, escrow fees and other closing costs incurred by the Fund).
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No Exercise of Option. If the Optionee does not exercise ------------------------ its option during the Exercise Period, as defined in the Option Agreement, the Company shall notify the Escrow Agent in writing that such option has terminated. Within three (3) business days of receipt of such notice, the Escrow Agent shall withdraw from the Escrow Fund and deliver to the Company the sum of $25,000. The Escrow Agent shall then withdraw the funds remaining in the Escrow Fund and deliver such funds to the Optionee.
Sample 1
No Exercise of Option. Sublandlord acknowledges and agrees that Sublandlord shall not exercise any option to extend the term of the Prime Lease that it may have pursuant to Section 2.6 of the Prime Lease or otherwise. As between Sublandlord and Subtenant, if Prime Landlord and Subtenant have executed the Direct Lease, the Sublandlord will have no further obligations under the Prime Lease at the end of the existing Prime Lease term.
Sample 1
No Exercise of Option. Notwithstanding any provision of this Lease to the contrary, any attempted exercise by Tenant of an option to extend the term of this Lease, shall be null and void and ineffective if such attempted exercise is made at the time when Tenant is in default under the terms and provision of this Lease.
Sample 1
No Exercise of Option. In the event MYMETICS does not exercise the Option prior to the Option Expiration Date or notifies PEVION in writing earlier of its intention not to exercise the Option or the Parties didn't succeed in concluding a supply agreement, the Option shall terminate. In the event of termination of the Option pursuant to Section 4.4, both Parties shall be entitled to use the Project Information and or Project Patent Rights on their own from this point in time onwards. In this case any third party involvement based upon the Project Information and or Project Patent Rights shall require the Parties' written agreement.
Sample 1

Related to No Exercise of Option

  • Exercise of Option The Over-allotment Option granted pursuant to Section 1.2.1 hereof may be exercised by the Representative as to all (at any time) or any part (from time to time) of the Option Units within 45 days after the effective date (“Effective Date”) of the Registration Statement (as defined in Section 2.1.1 hereof). The Underwriters will not be under any obligation to purchase any Option Units prior to the exercise of the Over-allotment Option. The Over-allotment Option granted hereby may be exercised by the giving of oral notice to the Company by the Representative, which must be confirmed in accordance with Section 10.1 herein setting forth the number of Option Units to be purchased and the date and time for delivery of and payment for the Option Units (the “Option Closing Date”), which will not be later than five (5) full Business Days after the date of the notice or such other time and in such other manner as shall be agreed upon by the Company and the Representative, at the offices of EG&S or at such other place (including remotely by facsimile or other electronic transmission) as shall be agreed upon by the Company and the Representative. If such delivery and payment for the Option Units does not occur on the Closing Date, the Option Closing Date will be as set forth in the notice. Upon exercise of the Over-allotment Option, the Company will become obligated to convey to the Underwriters, and, subject to the terms and conditions set forth herein, the Underwriters will become obligated to purchase, the number of Option Units specified in such notice.

  • Notice of Exercise of Option This Option may be exercised by the ---------------------------- Optionee, or by the Optionee's administrators, executors or personal representatives, by a written notice (in substantially the form of the Notice of Exercise attached hereto as Schedule B) signed by the Optionee, or by such administrators, executors or personal representatives, and delivered or mailed to the Company as specified in Section 14 hereof to the attention of the President or such other officer as the Company may designate. Any such notice shall (a) specify the number of shares of Stock which the Optionee or the Optionee's administrators, executors or personal representatives, as the case may be, then elects to purchase hereunder, (b) contain such information as may be reasonably required pursuant to Section 12 hereof, and (c) be accompanied by (i) a certified or cashier's check payable to the Company in payment of the total Exercise Price applicable to such shares as provided herein, (ii) shares of Stock owned by the Optionee and duly endorsed or accompanied by stock transfer powers having a Fair Market Value equal to the total Exercise Price applicable to such shares purchased hereunder, or (iii) a certified or cashier's check accompanied by the number of shares of Stock whose Fair Market Value when added to the amount of the check equals the total Exercise Price applicable to such shares purchased hereunder. Upon receipt of any such notice and accompanying payment, and subject to the terms hereof, the Company agrees to issue to the Optionee or the Optionee's administrators, executors or personal representatives, as the case may be, stock certificates for the number of shares specified in such notice registered in the name of the person exercising this Option.

  • Grant and Exercise of Option Provided that (i) no Default has occurred and is then continuing (ii) the creditworthiness of Tenant is then reasonably acceptable to Landlord and (iii) Tenant originally named herein or a Permitted Transferee remains in possession of the Leased Premises throughout the term immediately preceding the Extension Term (as defined below), Tenant shall have the option to extend the Lease Term for two (2) additional periods of five (5) years each (the "Extension Term(s)"). Each Extension Term shall be upon the same terms and conditions contained in the Lease except (x) this provision giving two (2) extension options shall be amended to reflect the remaining options to extend, if any, and (y) any improvement allowances or other concessions applicable to the Leased Premises under the Lease shall not apply to the Extension Term, and (z) the Minimum Annual Rent shall be adjusted as set forth below (the "Rent Adjustment"). Tenant shall exercise each option by delivering to Landlord, no later than twelve (12) months prior to the expiration of the preceding term, written notice of Tenant's desire to extend the Lease Term. Tenant's failure to timely exercise such option shall be deemed a waiver of such option and any succeeding option. Landlord shall notify Tenant of the amount of the Rent Adjustment no later than one hundred eighty (180) days prior to the commencement of the Extension Term. Tenant shall be deemed to have accepted the Rent Adjustment if it fails to deliver to Landlord a written objection thereto within thirty (30) days after receipt thereof. If Tenant exercises its option to extend in accordance with the terms hereof, Landlord and Tenant shall execute an amendment to the Lease reflecting the terms and conditions of the Extension Term within thirty (30) days after Tenant's acceptance (or deemed acceptance) of the Rent Adjustment.

  • Rights Prior to Exercise of Option The option herein granted is nontransferable by Optionee except as herein otherwise provided. This option may be pledged for the sole purpose of exercising stock options granted to the Optionee by the Company to purchase shares of Common Stock of the Company. Unless the Optionee is deceased or disabled, with the determination of the existence or nonexistence of such disability such disability left to the reasonable discretion of the Board of Directors of the Company, or pledged as permitted hereunder, the option herein may only be exercised by the Optionee. If the Optionee dies during the period of time that all or any of part of this option is exercisable, the Optionee's executor or legal representative may exercise all or any part of this option at any time or times during the period of time in which the option herein is granted. If the Optionee is disabled, as aforesaid, the Optionee's legal representative shall have the right to exercise all or any part of this option at any time or times during the period of time in which the Optionee is disabled and the option herein granted has not expired by the terms of this Agreement. With respect to the shares of stock which are subject to the option herein granted, Optionee shall have no rights as a stockholder until payment of the option price for the shares being purchased by exercise of the option herein granted, and the issuance of the shares involved.

  • Method of Exercise of Option (a) Subject to the terms and conditions of this Agreement, the Option shall be exercisable by notice in the manner set forth in Exhibit A hereto (the "NOTICE") and provision for payment to the Corporation in accordance with the procedure prescribed herein. Each such Notice shall:

  • Time of Exercise of Option This Option shall be first exercisable as to 25% of the Shares on each of the first four anniversary dates of this Agreement. To the extent the Option is not exercised by the Optionee when it becomes exercisable, it shall not expire, but shall be carried forward and shall be exercisable, on a cumulative basis, until the Expiration Date, as hereinafter defined.

  • Exercise of Options (a) The Option shall be exercised in accordance with the provisions of the Plan. As soon as practicable after the receipt of notice of exercise and payment of the Exercise Price as provided for in the Plan, the Company shall tender to the Optionee a certificate issued in the Optionee’s name evidencing the number of Option Shares covered thereby.

  • Manner of Exercise of Option (a) To the extent that the right to exercise the Option has accrued and is in effect, the Option may be exercised in full or in part by giving written notice to the Company stating the number of Shares as to which the Option is being exercised and accompanied by payment in full for such Shares. No partial exercise may be made for less than one hundred (100) full Shares of Common Stock. Payment shall be made in accordance with the terms of the Plan. Upon such exercise, delivery of a certificate for paid-up, non- assessable Shares shall be made at the principal office of the Company to the person exercising the Option, not less than thirty (30) and not more than ninety (90) days from the date of receipt of the notice by the Company.

  • Term and Exercise of Option (a) The term of this Option shall commence on the Grant Date set forth above and shall continue until the Expiration Date set forth above, unless earlier terminated as provided herein.

  • Exercise of SAR In order to exercise the SAR, the SAR Holder shall submit to the Company an instrument specifying the whole number of Shares in respect of which the SAR is being exercised. Shares will be issued accordingly by the Company within 30 days. The payment upon a SAR exercise shall be solely the number of whole Shares calculated in paragraph (a) above. Fractional Shares shall be rounded down to the nearest whole Share with no cash consideration being paid upon exercise. Anything to the contrary herein notwithstanding, the Company shall not be obligated to issue any Shares hereunder if the issuance of such Shares would violate the provision of any applicable law, in which event the Company shall, as soon as practicable, take whatever action it reasonably can so that such Shares may be issued without resulting in such violations of law.

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