Purchase and Sale of the Option Shares. In addition, subject to the terms and conditions and in reliance upon the representations and warranties herein set forth, the Company hereby grants an option to the Underwriters, severally and not jointly, to purchase, in the aggregate, up to an additional 255,000 shares of Common Stock at the public offering price per share set forth in Schedule B. The option hereby granted will expire 30 days after the date hereof and may be exercised in whole or in part no more than two times only for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Firm Shares upon notice by the Representatives to the Company setting forth the number of Option Shares as to which the several Underwriters are then exercising the option and the time and date of payment and delivery of such Option Shares. Any such time and date of delivery (a “Date of Delivery”) shall be determined by the Representatives, but shall not be later than seven full business days after the exercise of the option nor in any event prior to the Closing Time (as defined in Section 2(d)). If the option is exercised as to all or any portion of the Option Shares, each of the Underwriters, acting severally and not jointly, shall purchase that proportion of the total number of Option Shares then being purchased which the number of Firm Shares set forth opposite such Underwriter’s name in Schedule A bears to the total number of Firm Shares, subject in each case to such adjustments as the Representatives in their discretion shall make to eliminate fractional shares.
Purchase and Sale of the Option Shares. Upon the basis of the representations and warranties and other terms and conditions herein set forth, the Company agrees to sell to each Underwriter, severally and not jointly, and each Underwriter agrees, severally and not jointly, to purchase from the Company at the purchase price per share of $12.85625, the number of Option Shares set forth in Exhibit D opposite such Underwriter's name.
Purchase and Sale of the Option Shares. Immediately following the purchase and sale of the Options pursuant to Section 1 above, Brookdale shall purchase and acquire from PGI and PG3LP, and PGI and PG3LP shall sell, transfer, convey, assign and deliver to Brookdale, all of the rights, title and interests of PGI and PG3LP in and to the Option Shares, upon the following terms and conditions:
Purchase and Sale of the Option Shares. In addition, subject to the terms and conditions and in reliance upon the representations and warranties herein set forth, the Company hereby grants an option to the Underwriters, severally and not jointly, to purchase, in the aggregate, up to an additional 525,000 shares of Common Stock at the public offering price per share set forth in Schedule B, less an amount per share equal to any dividends or distributions declared by the Company and payable on the Firm Shares but not payable on the Option Shares. The option hereby granted will expire 30 days after the date hereof and may be exercised in whole or in part from time to time only for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Firm Shares upon notice by the Representatives to the Company setting forth the number of Option Shares as to which the several Underwriters are then exercising the option and the time and date of payment and delivery of such Option Shares. Any such time and date of delivery (a "Date of Delivery") shall be determined by the Representatives, but shall not be later than seven full business days after the exercise of the option nor in any event prior to the Closing Time (as defined in Section 2(d)). If the option is exercised as to all or any portion of the Option Shares, each of the Underwriters, acting severally and not jointly, shall purchase that proportion of the total number of Option Shares then being purchased which the number of Firm Shares set forth opposite such Underwriter's name in Schedule A bears to the total number of Firm Shares, subject in each case to such adjustments as the Representatives in their discretion shall make to eliminate fractional shares.
