Examples of Increase Option in a sentence
If no such agreement is reached within thirty (30) days after such meeting, the Buyer may, at any time after the expiry of such period, by written notice to the Sellers, terminate the Increase Option effective sixty (60) days after the giving of such notice, unless prior to the expiry of such notice period the Additional Flow Date has occurred, in which event, the Increase Option is not terminated but is effective.
Annual Increase Option A pension may be payable to the Member for their lifetime, with the provision that the pension would be increased on January 1st each year at a rate not exceeding four percent (4%) per annum.
On termination of the Increase Option as above the provisions of Article 6.4.8 will apply.
Satisfaction of Sellers’ Additional Conditions: In the event that Sellers’ Additional Conditions have not been satisfied or were not waived by the Sellers within twelve (12) Months after Sellers receive the Increase Notice (or such later date as may be mutually agreed to in writing by the Parties), the Buyer may terminate the Increase Option by not less than fourteen (14) days written notice and the provisions of Article 6.4.8 will apply.
Notwithstanding the provisions of Articles 6.4.1 to 6.4.6, in the event that prior to the Increase Date a Price Control Event occurs, the Sellers shall have the right, at their sole and absolute discretion, to terminate the Increase Option by ninety (90) days’ notice to the Buyer and the provisions of Article 6.4.8 will apply.