Initial Option Period definition

Initial Option Period means the Option Period commencing on the Plan Start Date and ending on July 31, 1997.

Initial Option Period shall have the meaning ascribed to such term in Section 2.4.

Initial Option Period shall have the meaning set forth in Article 2.4.

Examples of Initial Option Period in a sentence

• The option period may be extended by Tenant for two (2) six (6) month periods (the “Extension Option Period(s)”) upon Tenant’s written notice to Landlord before the end of the Initial Option Period or prior Extension Option Period, as applicable, together with payment of One Thousand Dollar ($1000.00) (the Initial Option Period and Extension Option Periods are hereinafter collectively referred to as the “Option Period”).

• During the Initial Option Period, Cordoba’s exploration spending on the San Matias Project exceeded the funding provided by HPX through private placements and exercise of warrants.

• OPTION PERIOD (CLAUSE 2) Clause 2.1 specifies the length of the first option period (Initial Option Period).

• Grantee shall have the right to extend the Initial Option Period for one additional twelve (12) month-period (the “Extended Option Period”) by providing written notice to Grantor on or before the last day of the Initial Option Period, together with an additional payment for the extension in the amount of $433.03 (the “Option Extension Payment” and together with the Initial Option Payment, collectively, the “Option Payment”).

• This clause must be completed if the parties agree that the Producer may extend the Initial Option Period (Extended Option Period), possibly against payment of a fee (Extension Fee).

More Definitions of Initial Option Period

Initial Option Period has the meaning set forth in Section 3.2(b).

Initial Option Period means the period commencing on the date hereof and ending on June 30, 2001; provided, however, if the Atari Advance has not been fully recouped by June 30, 2001, the Initial Option Period shall be extended to a date which is the earlier to occur of (i) June 30, 2003, or (ii) the date on which the Atari Advance is fully recouped. In determining whether the Atari Advance has been fully recouped for all purposes under this Agreement, amounts owed by GTIS but not yet reported, paid or credited to the Licensor shall be deemed recouped by GTIS. The Initial Option Period may be further extended under the following circumstances. If (a) an Early Termination Event occurs prior to June 30, 2000, and (b) GTIS shall not have fully recouped the Atari Advance by the end of the Initial Option Period as extended pursuant to the first sentence of this Section 1.11 (as such date may be further extended from time to time by future amendments or extensions other than the extensions next referred to in this sentence), then the Initial Option Period shall be further extended to a date which is the earlier to occur of (x) the date on which the Atari Advance is

Initial Option Period means the Option Period commencing on the Plan Start Date and ending on June 30, 1997.

Initial Option Period means the period starting on the Effective Date and ending on December 31, 2021;

Initial Option Period means the Option Period commencing the Plan Start Date and ending on September 30, 1996.

Initial Option Period means that period of time commencing the Delivery Date and ending on the date the Purchaser is elected to the Board of Directors of Stratus in 2016. Subject to adjustment as provided below, “First Option Period” means that period of time commencing on the Delivery Date and ending on June 30, 2017; “Second Option Period” means that period of time commencing on the Delivery Date and ending on June 30, 2018; and “Third Option Period” means that period of time commencing on the Delivery Date and ending on June 30, 2019; provided, however, that the ending date of any of the First, Second or Third Option Periods shall be accelerated or postponed as necessary to cause such ending date to be the final day of the month in which Stratus holds its annual meeting of shareholders for such year and at which directors are elected. A “Capital Event” shall occur if and when Stratus is sold, merged or combined with another company, or Stratus sells all or substantially all of its assets, pursuant to a transaction approved by the stockholders of Stratus. A “Service Cessation” shall occur if (a) as of the end of the Initial Option Period, the Purchaser has ceased to be a nominee for election to the Board of Directors of Stratus or, if elected a director, has declined to assume that office, and (b) as of the end of the First, the Second or the Third Option Period, as applicable, the Purchaser is not serving as a member of the Board of Directors of Stratus.

Initial Option Period has the meaning ascribed to it in section "3.1" hereinbelow;