Common use of Term and Termination of Option Clause in Contracts

Term and Termination of Option. Except as otherwise provided herein, the term of the option (the "Option Period") shall commence upon the Grant Date, and shall terminate on the fifth anniversary of the Grant Date. Upon expiration of the Option Period this Option, and all unexercised rights granted to Optionee hereunder, shall terminate and thereafter be null and void.

Term and Termination of Option. Except as otherwise provided hereinin Section 8 below, the term of the option Option (the "Option Period") shall will commence upon on the Grant Date, Date and shall terminate on the fifth second anniversary of the Grant Date. Upon the expiration of the Option Period Period, this Option, Option and all unexercised rights granted to Optionee hereunderhereunder will terminate, shall terminate and thereafter be null and void.

Term and Termination of Option. Except as otherwise provided hereinbelow, the term of the option Option (the "Option Period") shall commence upon on the Grant Date, Date and shall terminate on the fifth tenth anniversary of the Grant Date. Upon the expiration of the Option Period Period, this Option, Option and all unexercised rights granted to Optionee hereunderhereunder shall terminate, shall terminate and thereafter be null and void.

Term and Termination of Option. Except as otherwise provided herein, the The term of the option Option (the "Option Period") shall commence upon on the Grant Date, Date and shall terminate end on the earlier of (i) the exercise of the Option, or (ii) the fifth (5th) anniversary of the Grant Date. Upon the expiration of the Option Period this OptionPeriod, the Option and all unexercised rights granted to Optionee hereunderhereunder shall terminate, shall terminate and thereafter be null and void.