Option Interests Sample Clauses
The Option Interests clause defines the rights and conditions under which a party may acquire an ownership interest or stake in a particular asset, company, or project. Typically, this clause outlines the specific terms, such as the price, time frame, and procedures for exercising the option, and may specify any limitations or requirements that must be met before the option can be exercised. Its core practical function is to provide a clear mechanism for a party to secure the opportunity to invest or participate in the future, thereby allocating potential future interests and reducing uncertainty for both parties.
Option Interests. The respective obligations of the parties with respect to the Option Interests, if any, are subject to the performance by the Underwriters of their obligations, if any, to purchase Option Shares under the Purchase Agreements.
Option Interests. Other than the rights or options granted pursuant to the Recorded Documents, the Joint Venture Agreements, or Subsidiary Agreements, as applicable, there is no outstanding right of first offer, right of first refusal or other right or option to purchase or dispose of any Property or any portion thereof or direct or indirect interest therein.
Option Interests. If Laramie drills 4 Earning ▇▇▇▇▇, completed as ▇▇▇▇▇ capable of producing oil and/or gas in Paying Quantities, during the Drilling Term or extended Drilling Term as set forth in Section 3.3, and pays for the costs thereof in accordance with Section 7, below, then Laramie shall be entitled to exercise an option to acquire an undivided 50% of Dejour/Brownstone's right, title and interest in and to all or part of the Farmout Lands and Leases in which Laramie has not previously earned any interests hereunder by notifying Dejour/Brownstone, identifying the Farmout Lands and Leases as to which it wishes to exercise the option and tendering to Dejour/Brownstone good funds equal to $25 per net mineral acre for such option acreage within 60 days of the date that the fourth Earning Well is determined to be capable of producing oil and/or gas in Paying Quantities,. Upon receipt of such good funds, Dejour/Brownstone shall promptly execute an assignment, as provided in Section 6.2, to Laramie.
Option Interests. The Master Partnership acknowledges and agrees that:
(a) the offer and sale of the Option Interests to be acquired by the Master Partnership hereunder upon exercise of the Put Option or Call Option have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any other jurisdiction;
(b) the Option Interests will be acquired by the Master Partnership for its own account and not on behalf of any other person or entity in a manner that would violate, or cause the violation of, the securities laws of any jurisdiction;
(c) the Option Interests will be acquired solely for investment and without any present view to, or for sale in connection with, any distribution thereof to any other person or entity; and
(d) the Master Partnership has knowledge and experience in financial and business matters and is capable of evaluating the merits and risks of its acquisition of the Option Interests.
Option Interests. If Axiom drills 10 Earning W▇▇▇▇, completed as w▇▇▇▇ capable of producing oil and/or gas in Paying Quantities, during the Drilling Term or extended Drilling Term as set forth in Section 3.3, and pays for the costs thereof in accordance with Section 7, below, then Axiom shall be entitled to exercise an option to acquire an undivided 50% of AMOG's right, title and interest in and to all or part of the Farm out Lands and Leases in which Axiom has not previously earned any interests hereunder by notifying AMOG, identifying the Farm out Lands and Leases as to which it wishes to exercise the option and tendering to AMOG good funds equal to $100 per net mineral acre for such option acreage within 60 days of the date that the tenth Earning Well is determined to be capable of producing oil and/or gas in Paying Quantities. Upon receipt of such good funds, AMOG shall promptly execute an assignment, as provided in Section 6.2, to Axiom.
Option Interests. Upon Buyer's request, certificates representing the Option Interests, which shall be either duly endorsed or accompanied by powers duly executed in favor of Buyer.