Fallback Option definition

Fallback Option means the execution of an Agreement for Lease followed by the grant by Tesco to an Approved Tenant of a Lease of a Unit benefiting from Planning Permission followed by a sale of the freehold of the Site (together with the transfer of the whole of the share capital of New Clapton Stadium Company Limited and the giving of the Tesco Indemnity) under an Approved Agreement to a Fallback Option Approved Purchaser;
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Related to Fallback Option

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Reload Option means any Option granted under Section 6(a)(iv) of the Plan.

  • Incentive Option means an Option that is intended to comply with the requirements set forth in Section 422 of the Code.

  • Incentive Stock Option means an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder.

  • SAR means a stock appreciation right granted under the Plan.