Option Period Extension definition

Option Period Extension shall have the meaning assigned to such term in Section 4.2.6.
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Option Period Extension has the meaning assigned to it in Article 3.4.
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Option Period Extension has the meaning set forth in Section 4.1.1.
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Examples of Option Period Extension in a sentence

  • No later than thirty (30) days prior to the expiration of the Option Period, Grantee shall provide Grantor written notice of its intent to exercise the Option Period Extension.

  • If Grantee exercises the Option Period Extension, as consideration for such Option Period Extension, Grantee shall pay to Grantor the sum of fifteen thousand dollars ($15,000) prior to the expiration of the Option period (the “Option Period Extension Payment”).

  • The Option Period Extension Payment made shall be non- refundable to Grantee but shall be applied to the price of the Property under the Purchase Agreement.

  • If Grantee fails to deliver the Notice of Exercise on or before the expiration of the Option Period or Option Period Extension, as applicable, this Purchase Option shall terminate in which event Grantee shall forfeit all Option Payments paid prior to the date of termination and both Parties shall be released from all obligations hereunder except for those specified to survive the termination of this Purchase Option.

  • Except as expressly provided herein, Grantor shall not undertake any development of the Property in any form during the term of this Purchase Option (including any Option Period Extension) without the express written consent of Grantee.

  • Grantor covenants that any transfer of the Property by Grantor during the Option Period or Option Period Extension shall be made subject to this Purchase Option and that Grantor shall provide prior notice to Grantee of any such transfer.

  • Company may extend the Option Period for one additional twelve (12) month term (“Option Period Extension”) by providing University written notice prior to the expiration of the Option Period and payment of the fee set forth in Article 4.3. The Option Period Extension will be effected by a written amendment to this Agreement executed by University and Company.

  • Such fee may be reduced by up to a maximum of three thousand dollars ($3,000) if, prior to the expiration of the Option Period, Company completes any or all of the following milestones set forth in subsections (a) through (c) of this Article 4.3. The completion of each milestone reduces the Option Period Extension fee by one-thousand dollars ($1,000).

  • The Option Period Extension fee payable for extension of the Option Period under Article 3.4 is three thousand dollars ($3,000).

Related to Option Period Extension

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

  • Grace Period Extension Date means, if:

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

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

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

  • Extension Term means the time period defined in §2.C.

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

  • Resolution Extension Period As defined in Section 2.03(b).

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

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

  • Non-Extension Notice Date has the meaning specified in Section 2.03(b)(iii).

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

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

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

  • Extension Period has the meaning set forth in Section 2.11.

  • Additional Term shall have the meaning set forth in Section 8.2.

  • Optional Termination Date Any Distribution Date on or after which the Stated Principal Balance (after giving effect to distributions to be made on such Distribution Date) of the Mortgage Loans is less than 10.00% of the Cut-off Date Balance.

  • Initial Expiration Date shall have the meaning set forth in Section 1.1(d).

  • Renewal Period “Buyer” and “Default” have the same meanings respectively as they have in the Water Agreement.

  • Election Period means the period immediately preceding the beginning of each Plan Year established by the Administrator, such period to be applied on a uniform and nondiscriminatory basis for all Employees and Participants. However, an Employee's initial Election Period shall be determined pursuant to Section 5.1.

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

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

  • Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.

  • Option Expiration Date means the last day of the maximum term of an Option.

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