Second Options definition
Examples of Second Options in a sentence
Under the First or Second Options, the amount of each payment will depend upon the age and sex of the payee at the time the first payment is due.
Unless Lessor otherwise agrees in writing, any purported assignment of the Lease by Lessee or any purported sublease by Lessee of any part of the Premises after the date Lessee purportedly exercised the Second Options to Extend and before commencement of the Second Extension Period shall automatically and retroactively cause said exercise to become null and void and of no force or effect, in which event the term of this Lease shall terminate and expire on November 30, 2005.
Under the First and Second Options, the amount of each payment will depend upon the age and sex of the Annuitant at the time the first payment is due.
Each of the First Options and Second Options will be issued at an exercise price equal to the fair market value per share of Common Stock on the date of grant pursuant to the Plan.
Vested Second Options shall be exercisable for ninety (90) days after termination of the Agreement.
With respect to the Second Options, all the Second Options shall commence vesting on June 1, 2021, at a rate of three thousand (3,000) per month, and shall cease vesting upon the earlier of (i) the termination of the Agreement, or (ii) the first month anniversary after the Client’s employment of a full time Chief Financial Officer.
If Tenant fails to timely exercise the First Option to Extend in accordance with this paragraph, the exercise of the First and Second Options shall be deemed to have been waived by Tenant.
For purposes of this Section 5.3, “pro rata portion” shall mean for each Other Series A Investor which shall have elected to exercise its Series A Second Option a fraction, the numerator of which is equal to the number of Series A Preference Shares held by such Other Series A Investor and the denominator of which is equal to the aggregate number of Series A Preference Shares held by all Other Series A Investors which have elected to exercise their respective Series A Second Options.
Subject to the terms and upon the conditions contained herein, the Options may be exercised at any time prior to the earlier to occur of termination of the Options pursuant to Section 5 hereof and (i) seven (7) years from the 31st day of July 1996 in the case of the First and Second Options, (ii) seven (7) years from the 31st day of July 1997 in the case of the Third Option, or (iii) seven (7) years from the date on which Equity Securities are sold in the case of the Fourth Option (the "Option Period").
Under the First or Second Options, the amount of each payment will depend upon the sex of the Annuitant and the Annuitant's adjusted age at the time the first payment is due.