Option definition
Examples of Option in a sentence
The right to purchase the Option Units, or any portion thereof, may be exercised from time to time and to the extent not previously exercised may be surrendered and terminated at any time upon notice by the Representative to the Company.
Upon exercise of the Over-allotment Option, the Company will become obligated to convey to the Underwriters, and, subject to the terms and conditions set forth herein, the Underwriters will become obligated to purchase, the number of Option Units specified in such notice.
If such delivery and payment for the Option Units does not occur on the Closing Date, the Option Closing Date will be as set forth in the notice.
The Underwriters will not be under any obligation to purchase any Option Units prior to the exercise of the Over-allotment Option.
The Company shall not be obligated to sell or deliver the Option Units except upon tender of payment by the Underwriters for applicable Option Units.