Support Option Clause Samples

Support Option. When purchasing the support and software maintenance of the Software, the Licensee can subscribe to the RCDevs Support Option. If the licensee subscribed to the Support Option, RCDevs shall proceed to Error Correction as specified in this Agreement. If the Licensee did not subscribe to the RCDevs Support Option, RCDevs has no obligation to investigate and fix the issue reported by the Licensee. • Error classifications - Level A Error (system does not work): means an Error, which (i) renders the Software inoperative; or (ii) substantially degrades performance; or (iii) causes any major feature to be unavailable or substantially impaired; or (iv) causes a complete failure of the Software. Level A Error will prohibit the Licensee from using complete Software or its main functions. - Level B Error (system works with limited functions): means an Error, which degrades the performance of the Software or restricts the Licensee’s use of the Software. Level B Error will prohibit the Licensee from using one or more of the functionalities of the Software that cannot be considered as main functionalities, or other problems having moderate impact on Software. - Level C Error (system basically working with errors/ problems with specific functions): means an Error, which causes only a minor impact on the use of the Software. Level C Errors will be minor, not belonging to Level A or Level B. • If the Licensee subscribed to the RCDevs Support Option and the Licensee submitted an Error as specified in the Clause 2.1 of this Agreement, RCDevs ensures the following response times via e-mail: - Level A: Response within the next working day (Monday – Friday, 9 a.m. until 5 p.m. Luxembourg local time excluding Luxembourg public holidays). RCDevs shall allocate resources to work continuously during normal office hours to solve the problem as soon as possible and provide a Fix for the Error. If the Error can be circumvented by a Workaround, this will be communicated to the Licensee, and the Error will be re-classified accordingly. - Level B: Response within the working day after next (Monday – Friday, 9 a.m. until 5 p.m. Luxembourg local time excluding Luxembourg public holidays). RCDevs shall exercise commercially reasonable efforts to provide a Fix for the Error. - Level C: Response within the next five days (Monday – Friday, 9 a.m. until 5 p.m. Luxembourg local time excluding Luxembourg public holidays). RCDevs may include the Update or Fix for the Error in the next Update or Ne...
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Support Option. If Licensee desires Support Services, one of the following Support Services options must be specified on the Order Form and/or Licensee’s valid purchase order:
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Support Option. When purchasing the software maintenance of the Software, the Licensee can subscribe to the RCDevs Support Option. If the licensee subscribed to the Support Option, queries for specific technical problems and failures are possible at any time and RCDevs shall proceed to Error Correction as specified in this Agreement. For this purpose, the Licensee will send an electronic message indicating the exact problem description and a classification in the following priority and error levels.
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Support Option. ELECTION(S) By signing this Agreement, Client requests and TIBCO agrees to provide the on-site support services indicated below in accordance with the terms set forth in Exhibit C: _________ Full-time, on-site support at five (5) days per week for a period of [ ] months. _________ Part-time, on-site support at [_1 days per week (on a schedule to be mutually agreed upon) for a period of [ ] months. On-Site support at any level (full-time or part-time) may be extended or changed to another level upon sixty (60) days' written notice to TIBCO by Client. Renewals will be at the then-current rates.
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Support Option. At least ninety (90) days prior to the end of the second year of the Initial Term, Purchaser will have the option to purchase continuing support from ATI beyond the first two years of the Initial Term on a time and materials basis, as required, at ATI's then current rates as agreed to by the parties in writing. Such support will include support similar to the hardware support provided in Section 7.1 (a) and access to a designated engineer to provide software support as provided in Section 7.1(b). This additional support will also include any updates to Product documentation and Software. The parties will coordinate such additional support in accordance with Section 7.1(c).
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Related to Support Option

  • Over Allotment Option (a) For the purposes of covering any over-allotments in connection with the distribution and sale of the Closing Securities, the Representative is hereby granted an option (the “Over-Allotment Option”) to purchase, in the aggregate, up to _______ shares of Common Stock (the “Option Shares”) and Warrants to purchase up to ______ shares of Common Stock (the “Option Warrants” and, together with the Option Shares, the “Option Securities”) which may be purchased in any combination of Option Shares and/or Option Warrants at the Share Purchase Price and/or Warrant Purchase Price, respectively. (b) In connection with an exercise of the Over-Allotment Option, (a) the purchase price to be paid for the Option Shares is equal to the product of the Share Purchase Price multiplied by the number of Option Shares to be purchased, and (b) the purchase price to be paid for the Option Warrants is equal to the product of the Warrant Purchase Price multiplied by the number of Option Warrants to be purchased (the aggregate purchase price to be paid on an Option Closing Date, the “Option Closing Purchase Price”). (c) The Over-Allotment Option granted pursuant to this Section 2.2 may be exercised by the Representative as to all (at any time) or any part (from time to time) of the Option Securities within 45 days after the Execution Date. An Underwriter will not be under any obligation to purchase any Option Securities prior to the exercise of the Over-Allotment Option by the Representative. The Over-Allotment Option granted hereby may be exercised by the giving of oral notice to the Company from the Representative, which must be confirmed in writing by overnight mail or facsimile or other electronic transmission setting forth the number of Option Shares and/or Option Warrants to be purchased and the date and time for delivery of and payment for the Option Securities (each, an “Option Closing Date”), which will not be later than two (2) full Business Days after the date of the notice or such other time as shall be agreed upon by the Company and the Representative, at the offices of EGS or at such other place (including remotely by facsimile or other electronic transmission) as shall be agreed upon by the Company and the Representative. Each 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 Shares and/or Option Warrants specified in such notice. The Representative may cancel the Over-Allotment Option at any time prior to the expiration of the Over-Allotment Option by written notice to the Company. On each Option Closing Date, if any, each Underwriter shall deliver or cause to be delivered to the Company, via wire transfer, immediately available funds equal to such Underwriter’s Option Closing Purchase Price and the Company shall deliver to, or as directed by, such Underwriter its respective Option Shares and the Company shall deliver the other items required pursuant to Section 2.3 deliverable at the Option Closing. Upon satisfaction of the covenants and conditions set forth in Sections 2.3 and 2.4, the Option Closing shall occur at the offices of EGS or such other location as the Company and Representative shall mutually agree.

  • 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.

  • Put Option The Company hereby grants to Lender an option (the “Put Option”) to sell all or any portion of the Issued Shares (the “Put Shares”) to the Company for a total purchase price of $195,000, pro-rated for any portion thereof (the “Put Price”). The Put Option may be exercised with respect to any amount that is equal to or less than the entire balance of the outstanding Put Shares, at any time during the earlier to occur of the following Put Option exercise periods (the “Put Period”): (a) the ten (10) Business Day period commencing on the first anniversary hereof, or (b) the ten (10) Business Day period commencing on the date which is nine (9) months after the date that the registration statement for the registration of the Issued Shares is declared effective by the SEC . If not exercised during the Put Period, the Put Option shall terminate and shall be of no further force or effect. The Put Option shall be exercisable by Lender’s delivery of written notice to the Company (the “Put Notice”). The Put Notice shall specify the date on which the closing of the purchase of the Put Shares shall take place (the “Put Closing Date”), which such date shall be no earlier than ten (10) days but no later than thirty (30) days from the date of the Put Notice. On or before the Put Closing Date, Lender will deliver to the Company the certificate(s) representing the Put Shares (duly endorsed for transfer by Lender or accompanied by duly executed stock powers in blank) and the Company shall tender to Lender the Put Price in cash by wire transfer of immediately available funds to an account at a bank designated by Lender. The Company and Lender acknowledge and agree that the Company’s obligation to purchase the Issued Shares from Lender pursuant to the Put Option is an Obligation secured by the Collateral and any related guarantees under the Loan Documents, and for so long as the Put Option is outstanding and, if exercised, the Put Price is not yet tendered, the Lender’s right to receive the Put Price shall be secured by the Collateral and any related guarantees under the Loan Documents. Lender’s right to exercise the Put Option shall not be transferred or assigned to any third party. 6.1 Notwithstanding the foregoing, Lender shall have the right, but not the obligation, to accelerate the exercise of the Put Option upon a Fundamental Transaction (as defined in the Loan Agreement), as follows: The Company shall send written notice of the proposed Fundamental Transaction (“Fundamental Transaction Notice”) no later than thirty (30) days prior to the date of the proposed consummation of the Fundamental Transaction, together with all relevant information relating thereto, in form sufficient to enable Lender to make an informed decision as to whether it should accelerate the Put Option. Within fifteen (15) days of Lender’s receipt of the Fundamental Transaction Notice, Lender shall advise the Company whether the Lender has elected to accelerate the exercise of the Put Option. Lender’s failure to timely notify the Company of Lender’s intention to accelerate the Put Option shall be deemed an intention to decline to accelerate the Put Option. 6.2 In addition, notwithstanding the foregoing, Lender shall have the right, but not the obligation, to accelerate the exercise of the Put Option following an Event of Default under the Loan Documents (which acceleration right shall not be waived if not exercised following a prior Event of Default), in which event the Put Price shall be added to the Obligations under the Loan Agreement and secured by the Collateral thereunder, and shall be immediately due and payable to Lender. 6.3 If any portion of the Note is converted into Common Stock pursuant to the Loan Documents, the Put Option set forth hereinabove, if not terminated by its terms herein, shall terminate.

  • Data for Option W1 W1.1 The Adjudicator the person selected from the ICE-SA Division (or its successor body) of the South African Institution of Civil Engineering Panel of Adjudicators by the Party intending to refer a dispute to him. (see ▇▇▇.

  • Partial or No Exercise of the Over-allotment Option In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 750,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares, not including Shares issuable upon exercise of any warrants or any Common Stock purchased by Subscriber in the IPO or in the aftermarket equal to 20% of the issued and outstanding Shares immediately following the IPO.