Third Option Termination Sample Clauses
Third Option Termination. The Third Option will be of no further force or effect and will automatically terminate if:
(a) subject to ▇▇▇▇▇▇ first being given the opportunity to remedy pursuant to Section 6.2, the Third Option Notice is not delivered to each member of the CSG Group at the time specified in Section 6.2(a);
(b) ▇▇▇▇▇▇ has not satisfied one or more of the Third Option Conditions as required by the Third Option Deadline;
(c) subject to ▇▇▇▇▇▇ first being given the opportunity to remedy pursuant to Section 6.3, ▇▇▇▇▇▇ fails to deliver the Third Option Exercise Notice by the Third Option Deadline; or
(d) ▇▇▇▇▇▇ delivers the Third Option Termination Notice to each member of the CSG Group.
Third Option Termination. The Funding of the Third Option Expenditures is within the sole and unfettered discretion of Nevada Lithium and is not a committed amount. The Third Option will, subject to Section 16, be of no further force or effect, and will automatically terminate if:
(a) Nevada Lithium provides written notice to Iconic not to advance with the Transaction at any time during Phase III (a “Phase III Termination Notice”); or
(b) Nevada Lithium, subject to Section 7.4, decides not to Fund, or does not Fund, the Third Option Expenditures within the time period set out in Section 7.2.