Option Preconditions Sample Clauses

Option Preconditions. Borrower's right to exercise this -------------------- Adjust-A-Loan Option ("Option") is conditioned upon the following: (i) no Event of Default under the Security Agreement has theretofore occurred or is continuing; (ii) the New Collateral and prepayment of the Removed Collateral are financed by Lender nnder a New Note, subject to Lender's then current loan rates and documentation acceptable to Lender; (iii) Lender is satisfied with Borrower's creditworthiness in its sole discretion; (iv) the New Collateral is acceptable to Lender; and (v) Borrower has given Lender at least 90 days' prior written notice of its desire to exercise the Option.
Sample 1
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Option Preconditions. Lessee's right to exercise this Adjust-A-Lease Option ("Option") is conditioned upon the following: (i) no Event of Default under the Lease has theretofore occurred or is continuing; (ii) the New Equipment and prepayment of the Removed Equipment are financed by Lessor under a New Schedule, subject to Lessor's current lease rates and documentation acceptable to Lessor; (iii) Lessor is satisfied with Lessee's creditworthiness; (iv) the New Equipment is acceptable to Lessor; and (v) Lessee has given Lessor at least 90 days' prior written notice of its desire to exercise the Option.
Sample 1
Option Preconditions. Borrower's right to exercise this Adjust-A-Loan Option ("Option") is conditioned upon the following: (i) no Event of Default under the Security Agreement has theretofore occurred and is continuing; (ii) the New Note financing terms are subject to Lender's then current loan rates and documentation requirements; (iii) Lender is satisfied with Borrower's credit worthiness; (iv) the New Collateral is acceptable to Lender; (v) Borrower has given Lender at least 90 days' prior written notice of its desire to exercise the Option; (vi) the principal amount of the New Note using the formula set forth in (a) above is not less than zero.
Sample 1
Option Preconditions. Borrower's right to exercise this Adjust-A-Loan -------------------- Option ("Option") is conditioned upon the following: (i) no Event of Default under the Security Agreement has theretofore occurred or is continuing; (ii) the New Note financing terms are subject to Lender's then current loan rates and documentation requirements; (iii) Lender is satisfied with Borrower's creditworthiness; (iv) the New Collateral is acceptable to Lender; (v) Borrower has given Lender at least 90 days' prior written notice of its desire to exercise the Option; (vi) the principal amount of the New Note using the formula set forth in (a) above is not less than zero. PHOENIX LEASING INCORPORATED DOWNTOWN WEB, INC. DBA XXXXXXX.XXX By:___________________________ By:_______________________________ Name:_________________________ Name (Print):_____________________ Title:________________________ Title:____________________________ HEADQUARTERS LOCATION: ---------------------- 0000 Xxx Xxxxxx, Bldg. 6 Santa Clara, CA 95054 County of Santa Xxxxx
Sample 1
Option Preconditions. Borrower's right to exercise this Adjust-A-Lease Option ("Option") is conditioned upon the following: (i) no Event of Default under the Lease has theretofore occurred or is continuing; (ii) the New Equipment and prepayment of the Removed Equipment are financed by Lessor under a New Schedule, subject to Lessor's current lease rates and documentation acceptable to Lessor, (iii) Lessor is satisfied with Lessee's creditworthiness;
Sample 1
Option Preconditions. Lessee's right to exercise this Adjust-A-Lease Option ("Option") is conditioned upon the following: (I) no Event of Default under the Lease has theretofore occurred and is continuing; (ii) the New Schedule financing terms are subject to Lessor's then current lease rates and documentation requirements (iii) Lessor is satisfied with Lessee's creditworthiness; (iv) the New Equipment is acceptable to Lessor; (v) Lessee has given Lessor at least 90 days' prior written notice of its desire to exercise the Option; (vi) the dollar amount of the New Schedule using the formula set forth in (a) above is not less than zero.
Sample 1

Related to Option Preconditions

  • Xxxxx of Option; Conditions Tenant shall have the right to extend the Term (the “Renewal Option”) for one additional period of 5 years commencing on the day following the Termination Date of the initial Term and ending on the 5th anniversary of the Termination Date (the “Renewal Term”), if:

  • Conditions to Purchase of Option Shares In the event that the Underwriters exercise their option provided in Section 3(b) hereof to purchase all or any portion of the Option Shares, the representations and warranties of the Company contained herein and the statements in any certificates furnished by the Company hereunder shall be true and correct as of each Date of Delivery and, at the relevant Date of Delivery, the Representative shall have received:

  • Grant of Option; Conditions Tenant shall have the right (the “Extension Option”) to extend the Term for one (1) additional period of five (5) years beginning on the day immediately following the expiration date of the Lease and ending on the fifth anniversary of such expiration date (the “Extension Term”), if:

  • CONDITIONS PRECEDENT TO PURCHASE OR SUBSTITUTION Any purchase or substitution of Loans pursuant to these Master Terms is subject to the following conditions precedent being satisfied (and SLM ECFC, by accepting payment, shall be deemed to have certified that all such conditions are satisfied on the date of such purchase):

  • Conditions to Purchase of Option Securities In the event that the Underwriters exercise their option provided in Section 2(b) hereof to purchase all or any portion of the Option Securities, the representations and warranties of the Company contained herein and the statements in any certificates furnished by the Company and any of its subsidiaries hereunder shall be true and correct as of each Date of Delivery and, at the relevant Date of Delivery, the Representatives shall have received:

  • Conditional Exercise Notwithstanding any other provision hereof, if an exercise of any portion of this Warrant is to be made in connection with a public offering or a sale of the Company (pursuant to a merger, sale of stock, or otherwise), such exercise may at the election of the Holder be conditioned upon the consummation of such transaction, in which case such exercise shall not be deemed to be effective until immediately prior to the consummation of such transaction.

  • Conditions Precedent to the Right of the Company to Deliver an Advance Notice The right of the Company to deliver an Advance Notice and the obligations of the Investor hereunder with respect to an Advance are subject to the satisfaction or waiver, on each Advance Notice Date (a “Condition Satisfaction Date”), of each of the following conditions:

  • Conditions to The Purchaser’s Obligation to Purchase The obligation of the Purchaser hereunder to purchase the Note at the Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions, provided that these conditions are for the Purchaser’s sole benefit and may be waived by the Purchaser at any time in its sole discretion:

  • CONDITIONS TO GRANT TO HAVE AND TO HOLD the above granted and described Property unto and to the use and benefit of Lender, and the successors and assigns of Lender, forever; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, these presents and the estate hereby granted shall cease, terminate and be void.

  • Conditions to Exercise of Options In order to enable the Company to comply with the Securities Act of 1933 (the “Securities Act”) and relevant state law, the Company may require the Optionee, the Optionee’s estate, or any Transferee as a condition of the exercising of the Options granted hereunder, to give written assurance satisfactory to the Company that the shares subject to the Options are being acquired for the Optionee’s own account, for investment only, with no view to the distribution of same, and that any subsequent resale of any such shares either shall be made pursuant to a registration statement under the Securities Act and applicable state law which has become effective and is current with regard to the shares being sold, or shall be pursuant to an exemption from registration under the Securities Act and applicable state law. The Options are subject to the requirement that, if at any time the Board shall determine, in its discretion, that the listing, registration, or qualification of the shares of common stock subject to the Options upon any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory body, is necessary as a condition of, or in connection with the issue or purchase of shares under the Options, the Options may not be exercised in whole or in part unless such listing, registration, qualification, consent or approval shall have been effected.

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