Option Conditions. The right of NAPL to exercise the Option is subject to fulfillment by the NAPL Group of the following conditions (the “Option Conditions”) and the delivery of the notice of satisfaction by NAPL referred to in this Clause 5.3 prior to the expiry of the Option Period:
Option Conditions. In addition to any other conditions set forth in this Agreement, the exercise by Lessee of the Option and Xxxxxx’s entering into the Lease shall be subject to the satisfaction of the following conditions as of the dates set forth below (collectively, the "Option Conditions").
Option Conditions. If Subtenant fails or is unable timely to exercise its right hereunder, such right shall lapse, time being of the essence with respect to the exercise thereof (it being understood that Subtenant’s right hereunder is a one-time right only). At Sublandlord’s option, the Extension Option shall terminate if (1) the Lease, Sublease, or Subtenant’s right to possession of the Sublease Space is terminated, (2) Subtenant Transfers any of its interest in the Sublease or any portion of the Sublease Space, or Subtenant is not occupying all of the Sublease Space, or (3) Sublandlord determines, in its sole but reasonable discretion, that Subtenant’s financial condition or creditworthiness has materially deteriorated since the date of this Sublease. Subtenant acknowledges and agrees that this Extension Option shall be null and void if Sublandlord exercises the Acceleration Option or otherwise terminates the Lease.
Option Conditions. Exercise of any Option may be conditioned upon the Participant’s execution of a Share purchase agreement in form satisfactory to the Administrator providing for certain protections for the Company and its other shareholders, including requirements that:
Option Conditions. Tenant's option to renew, as provided in Section 24.14 above, shall be strictly conditioned upon and subject to each of the following:
Option Conditions. 5.1 If certain conditions (the “Option Conditions”) are satisfied as of twelve (12) months after the Closing Date , or, if Modavox is acquired, at any time within twelve (12) months after the Closing Date, Modavox (or its successor) will be granted an option, which option shall last thirty (30) days (or, with respect to a Modavox successor, for a period of thirty days after Modavox’s acquisition) (the “Option Period”), to buy the remaining 40% ownership interest in Newco (the “Option”). If the Option Conditions are satisfied, Modavox (or its successor) may exercise the Option during the Option Period by issuing to Seller shares of Modavox common stock (or the successor’s common stock) as defined in Section 5.2 below (the “Option Equity”).
Option Conditions. Tenant shall have the option to extend the term of this Lease for one (1) additional five-year period commencing upon the expiration of the initial five-year term hereof. The option to extend the term of the Lease shall automatically be exercised unless Tenant delivers to Landlord written notice of Tenant's intent not to exercise such option which shall be given to Landlord in writing not less than six (6) months prior to the expiration of the initial five-year term. In addition to the foregoing, the option shall lapse and terminate if Tenant shall have previously breached or otherwise failed to perform under the Lease since its inception; Landlord at his sole discretion, may declare the option to extend null and void.
Option Conditions. In addition to any other requirements for exercise of the Option set forth in this Agreement, the exercise by Lessee of the Option shall be subject to the satisfaction of the following two conditions (the “Option Conditions”):
Option Conditions. In addition to any other conditions set forth in this Agreement, the exercise by Master Developer of the Option shall be subject to the satisfaction of each of the following conditions (collectively, the “Option Conditions”) set forth in Section 3.1 through Section 3.8. Each Party shall use its commercially reasonable efforts to satisfy the Option Conditions before the date that is two (2) years after the Effective Date.
Option Conditions. The Commercial License must meet the requirements of applicable Mitacs and UVic policies. To the extent exclusivity is provided, Sponsor must diligently pursue commercialization. In furtherance of this objective, following exercise of the Option, the Sponsor should be prepared to provide:
