Term and Exercise of Option. (i) The option granted under Section 2A above shall terminate at the end of the Option Period. In order to exercise its option, Company must, prior to the end of the Option Period, both notify ISURF in writing that it is exercising its rights and provide to ISURF an acceptable development plan similar in scope to that outlined on Appendix B of this Agreement. The failure of Company to provide timely notice and an acceptable development plan shall be deemed a waiver of Company’s option.
Appears in 5 contracts
Samples: Option Agreement (Octillion Corp), Option Agreement (Microchannel Technologies Corp), Option Agreement (Octillion Corp)
