Second Option definition

Second Option has the meaning set out in sub-paragraph 4.01(b) hereof;

Second Option has that meaning set out in Section 3.1(b);

Second Option has the meaning set forth in Section 4.1(c) of this Agreement.

Examples of Second Option in a sentence

• If you are sending this Agreement to a customer on a second option basis, substitute the clause below with the Second Option Date clause found in the Optional Additional Clauses.

• In accordance with Section 3 of the Option Agreement, Grantee is, simultaneously with the delivery of this Notice of Extension, delivering to Owner an additional Option Fee of $2,500 for the Second Option Term.

• If the Members fail to exercise the Second Option as provided above, the Member desiring to sell the Shares may sell them subject to the Bona Fide Offer to the purchaser named in the Bona Fide Offer but only if the sale is made strictly in accordance with all of the terms of the Bona Fide Offer.

• By this Notice of Extension, the Second Option Term will expire on , 20 .

• If the Company fails to exercise the First Option, for an additional 60-day period, the other Members of the Company shall have the exclusive right and option (Second Option), but not the obligation, to purchase all of the Shares subject to the Bona Fide Offer (Second Option) on a Pro-Rata Basis either at the same price and terms as in the Bona Fide Offer or at the price provided in section 10.11.1 and terms provided in sections 10.12, 10.13, and 10.14 of this Operating Agreement.

More Definitions of Second Option

Second Option. Second Option" means the rights and obligations contemplated in Section 9.6 hereof.

Second Option has the meaning ascribed thereto in Section 4.01;

Second Option. Replace the least senior employee in the same classification and employment status and hours per year, provided the employee has the abilities and qualifications to perform the duties of the job position. (Same class & hours per day as held prior to reduction).

Second Option means the option described in the Option Letter under the heading “Debt Option” to have the Existing Notes amended as described therein;

Second Option shall have the meaning set forth in Section 2(b) hereof.

Second Option. Life Income The Company will make equal monthly payments. Payments will start on the Option Date and will continue: . During the life of the Payee, with no further payment after the death of the Payee, called "Life Income, No Refund"; or . During the life of the Payee, but for at least 10 years, called "Life Income, 10 Years Certain"; or . During the life of the Payee, but for at least 20 years, called "Life Income, 20 Years Certain".

Second Option means Second Option as defined in Paragraph 35.