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

Option Term means the period beginning on the Grant Date of an Option and ending on the expiration date of such Option, as specified in the Award Agreement for such Option and as may, consistent with the provisions of the Plan, be extended from time to time by the Board prior to the expiration date of such Option then in effect.

Option Term means the maximum term of an Option as set forth in Section 7.3.

Examples of Option Term in a sentence

The City may exercise the Park Option at any time during the Option Term by giving written notice to Caesars Virginia.
Base Rent shall continue to be increased by three percent (3%) over the Base Rent for the immediately preceding Lease Year during each Option Term.
Optionee may extend the Option Term for up to six (6) months (“Extended Option Period”) if Optionee is delayed in fulfilling the requirements of this Option and at least one hundred twenty (120) days prior to expiration of the Option Term, Optionee has submitted written notice to the Chief Real Estate Officer requesting that the Option Term be extended and clearly declaring the length of such proposed extension.
At any time during the Option Term that Optionee shall have performed all conditions as set forth in Section 7 (Conditions) of this Option Agreement to the satisfaction of Chief Real Estate Officer, Optionee may exercise the Option by giving Chief Real Estate Officer written notice of election do so, accompanied by properly executed copies of the Lease in triplicate.
Each Option Term may be exercised so long as no Defaults (defined below) have occurred and are continuing at the time of such exercise, and so long as Tenant provides Landlord written notice exercising such Option Term at least twelve (12) months prior to the impending expiration of the current Term.

More Definitions of Option Term

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

Option Term means the period beginning on the Grant Date of an Option and ending on the date such Option expires, terminates or is cancelled.

Option Term means the period of 20 years commencing on 1 January 1993 and expiring on 31 December 2012;

Option Term shall have the meaning ascribed to such term in Section 3 of this Agreement.

Option Term shall have the meaning ascribed to such term in Section 2 herein.

Option Term. The Options have been granted for a period of ten years, ending on the tenth anniversary of the Date of Award.

Option Term means the period of time during which an Option is exercisable as the Committee shall determine at the time of grant; provided, however, no Option shall be exercisable later than the tenth anniversary of its grant date.