Option to Purchase Additional Shares. In addition, on the basis of the representations and warranties herein included and subject to the terms and conditions herein set forth, the Company hereby grants an option to the Underwriters to purchase up to an additional 3,000,000 Shares at the purchase price set forth on the first page of this Agreement less the amount of any distribution payable with respect to an Initial Share but not payable with respect to an Option Share (for the avoidance of doubt, this language is meant to address the theoretical situation where the Initial Shares are entitled to a dividend but the Option Shares settle after the related record date, in which event the Underwriters will remit the amount of such dividend to holders of such Option Shares). The option hereby granted will expire 30 days after the date of this Agreement and may be exercised in whole or in part from time to time which may be made in connection with the offering and distribution of the Initial Shares upon notice by the Underwriters to the Company setting forth the number of Option Shares as to which the Underwriters are then exercising the option and the time, date and place of payment and delivery for such Option Shares. Any such time and date of delivery (a “Date of Delivery”) shall be determined by the Underwriters but shall not be later than ten full business days, nor earlier than two full business days, after the exercise of said option, nor in any event prior to Closing Time, unless otherwise agreed upon by the Underwriters and the Company. If the option is exercised as to all or any portion of the Option Shares, each of the Underwriters, acting severally and not jointly, will purchase that proportion of the total number of Option Shares then being purchased which the number of Initial Shares each such Underwriter has severally agreed to purchase as set forth in Schedule A hereto bears to the total number of Initial Shares, subject to such adjustments as the Representatives in their discretion shall make to eliminate any sales or purchases of fractional Shares.
Option to Purchase Additional Shares. (a) The Representative is hereby granted an option (the “Option”) to purchase, in the aggregate, up to 2,142,857 shares of Common Stock (the “Option Shares”) at the Share Purchase Price.
Option to Purchase Additional Shares. NetCalendar hereby grants to PopMail an option (the "Option") to purchase up to 27,624 additional shares of NetCalendar common stock (the "Additional Shares") at a per share price of $36.2004 (the "Exercise Price"), payable in cash. To exercise the Option, PopMail must deliver written notice thereof (the "Option Notice") to NetCalendar on or before the 30th day following the Initial Closing Date. In the event that PopMail elects to exercise the Option, the parties shall select a mutually agreeable closing date, time and location within thirty (30) days of the Option Notice, at which PopMail will deliver to NetCalendar the aggregate Exercise Price and NetCalendar shall deliver to PopMail certificates representing the Additional Shares.
Option to Purchase Additional Shares. WWV agrees to provide DataPower an option to purchase an additional 500,000 free trading shares for payment of $150,000 if such payment is made by September 23, 1998 or 15 business days after delivery of working prototypes, whichever shall be the later. Upon the signing of this License Agreement DataPower agrees that this payment is in addition and not a part of the Royalty payments described in number four (4) below. Further, WWV agrees to return, in full, without interest, the $50,000 loan to secure the rights if WWV cannot deliver working a United State's version of a commercial product to DataPower within three months (3) of the signing of this agreement.
Option to Purchase Additional Shares. Subject to the terms and conditions set forth in this Agreement, the Company hereby grants to Buyer the option (the “Option”) to purchase from the Company during the Term (as defined in Section 2.3) that number of issued and outstanding shares of the Company’s common stock that is necessary for the Buyer, immediately following exercise of the Option, to own fifty-one percent (51%) of the Company’s issued and outstanding shares, on a Fully Diluted Basis (“Option Shares”).
Option to Purchase Additional Shares. Regardless of whether the Purchaser exercises its rights pursuant to Section 5.5, the Purchaser shall have the right to purchase additional shares of Common Stock of the Issuer from the Issuer at any time and from time to time during the calendar year 2019 on sixty-one days’ prior written notice to the Issuer at a purchase price equal to the closing sale price for the Common Stock on the trading day immediately preceding the date of the applicable purchase; provided, however, unless the Issuer has obtained any necessary shareholder approval under the rules and regulations of the Nasdaq Capital Market, this option may be exercised only to the extent that the Purchaser’s “beneficial ownership” (as determined in accordance with Section 13 of the Exchange Act and the rules and regulations of the Commission promulgated thereunder) of Common Stock does not exceed 19.99% of outstanding Common Stock or 19.99% of voting power outstanding immediately after the purchase of additional securities. The Issuer represents and warrants that this Section 1.5 does not violate any rules and regulations of the Nasdaq Capital Market. For the avoidance of doubt, nothing in this Section 1.5 will prohibit or otherwise be deemed to limit the Purchaser from acquiring shares of Common Stock in open market transactions or in privately negotiated transactions with third parties at any time and from time to time.
Option to Purchase Additional Shares. (a) OPTION TO PURCHASE ADDITIONAL SHARES. At the option of the Investor (the "Share Option"), which option shall be exercisable by the Investor at any time prior to December 31, 2002 (the "Share Option Period"), the Company shall issue and sell to the Investor, and the Investor shall purchase from the Company, up to one million two hundred two thousand nine hundred forty (1,202,940) shares of Common Stock (the "Option Shares") as noted on Exhibit "B" attached hereto, for the purchase price provided in Section 1.1(c) below. The Investor shall be entitled to one exercise of the Share Option, even if such exercise is for less than the total number of Option Shares.
Option to Purchase Additional Shares. (a) For the purpose of covering any over-allotments in connection with the distribution and sale of the Firm Securities as contemplated by the Prospectus, the Company hereby grants an option to the Underwriters to purchase 150,000 Additional Shares and 150,000 Additional Warrants from the Company, in each case at a price identical to the price per Firm Share and Firm Warrant set forth in Section 2 of this Agreement. The option hereby granted may be exercised by the Underwriters as to all or any part of the Additional Securities at any time, but only once prior to the end of the close of business on the thirtieth day following the Closing Date; provided, however, that Additional Securities may only be purchased on the basis of one additional Warrant for each Additional Share purchased. Subject to such adjustments to eliminate fractional Additional Securities as you, as the Representative of the Underwriters, may determine, the number of Additional Securities to be purchased by each Underwriter shall bear the same relation to the total number of Additional Securities to be sold as the total number of Firm Securities to be purchased by such Underwriter bears to the total number of Firm Securities purchased by the Underwriters.
Option to Purchase Additional Shares. At any time on or ----------- ------------------------------------ before August 15, 2002, and at the Company's sole discretion, the Company may exercise the option of requiring the Purchasers to purchase 285,714 additional shares of Series B Preferred Stock under the same terms and conditions as those set forth in this Agreement. The Company shall notify the Purchasers of the Company's desire to exercise its option hereunder in writing and the Purchasers shall have thirty (30) days from receipt of such notice to fulfill their obligations with respect to such option. Notwithstanding the foregoing, the Purchasers will not be obligated to fulfill their obligations set forth in this Section 1.4 in the event that, at the time of such request, any material representation or warranty contained in this Agreement is or has been present.
Option to Purchase Additional Shares. Prior to the consummation of an offering of any of the capital stock of SynQuest to Warburg or its Affiliates (as defined below), Bendxx xxxl have a right of first refusal to purchase that number of shares of SynQuest's capital stock, at the same price to be paid by Warburg or its Affiliates, up to and equal to that number of shares necessary, based on the proposed offering to Warburg or its Affiliates, to maintain Bendxx'x xxxn-current fully-diluted equity interest percentage in SynQuest; provided, however, that the right of first refusal granted under the preceding clause will only apply to Bendxx'x xxxity interest in SynQuest up to five percent (5%) (for example, if Bendxx xxxs three percent (3%) of the fully-diluted equity of SynQuest prior to a proposed offering of additional shares to Warburg, then Bendxx xxxl have the right to purchase enough shares to maintain his fully-diluted interest at three percent (3%); and if Bendxx xxxs seven percent (7%) of the fully-diluted equity of SynQuest prior to a proposed offering of additional shares to Warburg, then Bendxx xxxl have the right to purchase enough shares to maintain his interest at five percent (5%)). In order to exercise this right, Bendxx (x) must notify SynQuest within thirty (30) days of Bendxx'x xxxeipt of notice from SynQuest of the proposed investment
