First Option Term definition

First Option Term has the meaning ascribed to it in Clause 9.14 and refers to the period specified in Item 7A of the Third Schedule and commencing from the expiration of the Term;
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First Option Term means the five (5) year period commencing at the expiration of the Extended Term, where both Parties have mutually approved the exercise of the option.
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First Option Term. [TBD] – [TBD] Second Option Term: [TBD] – [TBD]
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Examples of First Option Term in a sentence

  • The identification of the Mediterranean space related issues allows to define programme objectives through a dynamic methodology.

  • Unless Grantee shall have otherwise elected to terminate this Option Agreement as set forth in Section 4 below, then commencing on the Effective Date and continuing on any extension of the First Option Term, Grantee shall make the payments to the Owner as set forth below (each payment an “Option Fee,” and collectively, “Option Fees”), in which case the Option Period shall continue accordingly.

  • In order to exercise this Option Term, the Judicial Council must send Notice to Contractor at least thirty (30) days prior to the end of the Initial Term or the First Option Term.

  • One (1) Deliverable will occur in the First Option Term of this RFP.

  • Arizona, Connecticut and Pennsylvania did not agree on a 2010 budget plan by July 1, the start of their fiscal year, and are still working to complete them.

  • The monthly base rental rate shall be at the monthly base rental rate at the end of the Lease Term, or First Option Term, or Second Option Term, if any, multiplied by a factor of 1.03 {i.e. an increase of the monthly base rental rate in the amount of Three percent (3%)}.

  • The option terms are defined as: First Option Term: September 1, 2020 to August 31, 2021 and Second Option Term: September 1, 2021 to August 31, 2022.

  • The First Option Term will be exercised at the discretion of the AOC.

  • Substance abuse remains a matter of serious concern in the United States, particularly with regard to the high level of abuse of prescription drugs by adolescents and adults.

  • Two consecutive one-year terms, First Option Term and Second Option Term will be exercised at the sole discretion of the AOC.


More Definitions of First Option Term

First Option Term. Commencement Date means July 2, 2013.
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First Option Term is defined in Section 1.5
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First Option Term has the meaning set forth in Section 7.03(a).
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First Option Term. Beginning with the first (1st) lease year of the First Option Term and continuing through the expiration of the First Option Term hereof, the sum of Six Hundred Forty Thousand and 00/l00ths Dollars ($640,000.00) annually, which sum shall be payable by Tenant in equal consecutive monthly installments of Fifty-Three Thousand Three Hundred Thirty-Three and 34/100ths Dollars ($53,333.33) each. Second Option Term: Beginning with the first (1st) lease year of the Second Option Term and continuing through the expiration of the Second Option Term hereof, the sum of Seven Hundred Twenty Thousand and 00/100th Dollars ($720,000.00) annually, which sum shall be payable by Tenant in equal consecutive monthly installments of Sixty Thousand and 00/100ths Dollars ($60,000.00) each.
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First Option Term means the period of the extended lease term referred to in Item 11 and Clause 13.
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Related to First Option Term

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.

  • Option Period means the period during which an Option may be exercised.

  • Call Option Period has the meaning given to it in Condition 6.04 (Call Option);

  • Renewal Option has the meaning set forth in §12.1.

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • Second Extension Option shall have the meaning set forth in Section 2.6.1 hereof.

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • First Extension Option shall have the meaning set forth in Section 2.6.1 hereof.

  • Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.

  • Subscription Term means the initial subscription term and if applicable any renewal subscription term of a Cloud Service identified in the Order Form.

  • Base Term Beginning (i) with respect to the Original Premises on the Commencement Date, and (ii) with respect to the Expansion Premises on the Expansion Premises Commencement Date, and ending with respect to the entire Premises on August 31, 2024.”

  • Original Term means the period from the Commencement Date until the end of the fiscal year of Lessee in effect at such Commencement Date.

  • Option to Extend has the meaning given that term in Section 2.13.

  • Call Option Date As defined in Section 10.01(a) hereof.

  • License Period means the period beginning from the Commencement Date and ending on the Termination Date.

  • Over-Allotment Option means the option of the Underwriters to purchase up to an additional 15 per cent of the firm units (as described in the Articles) issued in the IPO at a price equal to US$10 per unit, less underwriting discounts and commissions.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Initial Term has the meaning set forth in Section 7.1.

  • Second Extension Period means a period of twelve (12) consecutive months following the First Extended Maturity Date.

  • Collaboration Term has the meaning set forth in Section 2.2.

  • Option Date means, with respect to any Stock Option, the date on which the Stock Option is awarded under the Plan.

  • Grant Year has the same meaning as in subclause 1(1) of Schedule 1 of HESA; ‘HESA’ means the Higher Education Support Xxx 0000; ‘maximum basic grant amount’ or ‘MBGA’ has the same meaning as in subclause 1(1) of Schedule 1 of HESA.

  • Extended Term shall have the meaning given such term in Section 2.4.

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Termination Right have the respective meanings given in the PRA Contractual Stay Rules.