Common use of Conditions to Exercise; Termination Clause in Contracts

Conditions to Exercise; Termination. Grantee may exercise the Option, in whole but not in part (subject to the rights of Grantee under Section 20(a)), by giving a written notice thereof as provided in Section 2(d) within 180 days following the occurrence of a Triggering Event (as defined in Section 2(b)) unless prior to the giving of such notice the Effective Time (as defined in the Merger Agreement) shall have occurred. The Option shall terminate upon the earliest of (i) the occurrence of the Effective Time,(ii) the termination of the Merger Agreement other than under circumstances which constitute (or upon satisfaction of the conditions to the obligation of Issuer to pay the NationsRent Termination Amount set forth in Section 8.5.2 would constitute) a Triggering Event under this Agreement, (iii) the occurrence of the date which is 180 days after termination of the Merger Agreement under circumstances which, if the conditions to the obligation of Issuer to pay the NationsRent Termination Amount set forth in Section 8.5.2 were satisfied, would constitute a Triggering Event under this Agreement, provided that no such Triggering Event resulting from the satisfaction of such conditions shall have occurred prior to or upon the occurrence of such date or (iv) an Option Order (as defined herein) with respect to all of the Option Shares becomes final and non-appealable.

Conditions to Exercise; Termination. Grantee may exercise the Option, in whole but not in part (subject to the rights of Grantee under Section 20(a)), by giving a written notice thereof as provided in Section 2(d) within 180 days following the occurrence of a Triggering Event (as defined in Section 2(b)) unless prior to the giving of such notice the Effective Time (as defined in the Merger Agreement) shall have occurred. The Option shall terminate upon the earliest of (i) the occurrence of the Effective Time,(ii) the termination of the Merger Agreement other than under circumstances circum stances which constitute (or upon satisfaction of the conditions to the obligation of Issuer to pay the NationsRent RSC Termination Amount set forth in Section 8.5.2 8.5.3 would constitute) a Triggering Event under this Agreement, (iii) the occurrence of the date which is 180 days after termination of the Merger Agreement under circumstances which, if the conditions to the obligation of Issuer to pay the NationsRent RSC Termination Amount set forth in Section 8.5.2 8.5.3 were satisfied, would constitute a Triggering Event under this Agreement, provided that no such Triggering Event resulting from the satisfaction of such conditions shall have occurred prior to or upon the occurrence of such date or (iv) an Option Order (as defined herein) with respect to all of the Option Shares becomes final and non-appealable.