Conditions to Options Clause Samples

The "Conditions to Options" clause defines the specific requirements or circumstances that must be satisfied before a party can exercise an option under the agreement. Typically, this clause outlines prerequisites such as timely notice, fulfillment of payment obligations, or compliance with other contractual terms before the option—such as extending a lease or purchasing additional goods—becomes available. Its core function is to ensure that options are only exercised when all agreed-upon conditions are met, thereby protecting both parties from premature or improper use of contractual rights.
Conditions to Options. THE CORPORATION’S OBLIGATION TO ISSUE SHARES OF ITS COMMON STOCK UPON EXERCISE OF THE OPTIONS IS EXPRESSLY CONDITIONED UPON THE COMPLETION BY THE CORPORATION OF ANY REGISTRATION OR OTHER QUALIFICATION OF SUCH SHARES UNDER ANY STATE AND/OR FEDERAL LAW OR RULINGS OR REGULATIONS OF ANY GOVERNMENTAL REGULATORY BODY, OR THE MAKING OF SUCH INVESTMENT REPRESENTATIONS OR OTHER REPRESENTATIONS AND UNDERTAKINGS BY THE OPTIONEE OR ANY PERSON ENTITLED TO EXERCISE THE OPTION IN ORDER TO COMPLY WITH THE REQUIREMENTS OF ANY EXEMPTION FROM ANY SUCH REGISTRATION OR OTHER QUALIFICATION OF SUCH SHARES WHICH THE COMMITTEE SHALL, IN ITS SOLE DISCRETION, DEEM NECESSARY OR ADVISABLE. SUCH REQUIRED REPRESENTATIONS AND UNDERTAKINGS MAY INCLUDE REPRESENTATIONS AND AGREEMENTS THAT THE OPTIONEE OR ANY PERSON ENTITLED TO EXERCISE THE OPTION (i) IS NOT PURCHASING SUCH SHARES FOR DISTRIBUTION AND (ii) AGREES TO HAVE PLACED UPON THE FACE AND REVERSE OF ANY CERTIFICATES A LEGEND SETTING FORTH ANY REPRESENTATIONS AND UNDERTAKINGS WHICH HAVE BEEN GIVEN TO THE COMMITTEE OR A REFERENCE THERETO.
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Conditions to Options. (a) The Renewal Option is not assignable separate and apart from this Lease, nor may it be separated from this Lease in any manner, either by reservation or otherwise. In the event this Lease has been assigned and the Renewal Option is exercised (whether exercise occurs before or after such assignment and regardless of any subsequent assignment or assignments), the originally herein-named Tenant, in addition to its assignee and any subsequent assignee(s), shall be liable hereon throughout the option term. (b) Tenant shall have no right to exercise the Renewal Option W during the time commencing from the date Landlord gives to Tenant a notice of default pursuant to Article 16 and continuing until the non-compliance alleged in said notice of default is cured (but only if such default is susceptible to being cured and such cure is accomplished prior to the expiration of the applicable grace period, if any), or (ii) during the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and remains unpaid (without any necessity for notice thereof to Tenant) and continuing until the obligation is paid, or (iii) if Tenant has committed any non-curable breach of this Lease or is otherwise in default of this Lease, or Ov) if this Lease has been terminated. (c) The period of time within which the Renewal Option may be exercised shall not be extended or enlarged by reason of Tenant's inability to exercise such right because of the provisions of the foregoing subsection 28.2(b). (d) At Landlord's sole election, the Renewal Option shall terminate and be of no further force or effect, notwithstanding Tenant's due and timely exercise thereof, if, after such exercise but prior to the commencement of the option term (i) Tenant is in default of any of the terms, covenants or conditions of this Lease beyond the applicable grace period, if any, to cure such default, or (ii) this Lease has been terminated.
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Conditions to Options 
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Related to Conditions to Options

  • CONDITIONS TO GRANT TO HAVE AND TO HOLD the above granted and described Property unto and to the use and benefit of Lender, and the successors and assigns of Lender, forever; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, these presents and the estate hereby granted shall cease, terminate and be void.

  • CONDITIONS TO PURCHASE (a) Meritage’s obligation to purchase the Shares following the execution of this Agreement is subject to the following conditions precedent: (i) The transactions contemplated hereby shall have been approved by the Board of Directors of Meritage, including a majority of all disinterested directors, at a meeting of the Board of Directors duly called and held; (ii) Meritage shall have received, within seven days of the date hereof, a written opinion as to the fairness of the purchase of the Shares to Meritage from a financial point of view, which opinion shall have been issued by an accounting, appraisal or investment banking firm of nationally recognized standing that is, in the reasonable judgment of Meritage’s Board of Directors, qualified to perform such task and disinterested and independent with respect to Meritage (the “Independent Bank”); provided, that Meritage shall inform ▇▇▇▇▇▇ promptly, and in any event within two days, of its receipt of such opinion from the Independent Bank or of confirmation from the Independent Bank that the Independent Bank will not issue such an opinion; and (iii) The representations and warranties of ▇▇▇▇▇▇ made herein shall be true and correct in all respects and ▇▇▇▇▇▇ shall be in compliance with all covenants and other terms of this Agreement and Sections 8 and 9 of the Employment Agreement. (b) ▇▇▇▇▇▇’▇ obligation to sell the Shares following the execution of this Agreement is subject to the following conditions precedent: (i) The transactions contemplated hereby shall have been approved by the Board of Directors of Meritage, including a majority of all disinterested directors, at a meeting of the Board of Directors duly called and held; (ii) Meritage shall have received within seven days of the date hereof, a written opinion as to the fairness of the purchase of the Shares to Meritage from a financial point of view issued by the Independent Bank; and (iii) The representations and warranties of Meritage made herein shall be true and correct in all respects and Meritage shall be in compliance with all covenants and other terms of this Agreement and Section 7 of the Employment Agreement.

  • Conditions to Loans The obligations of Lenders to make Loans are subject to satisfaction of all of the applicable conditions set forth below.

  • Conditions to Loan Section 3.1 Conditions to Funding of the Loan on the Closing Date......................................... 33

  • Conditions to Exercise The purchase right represented by this Warrant may be exercised at any time, or from time to time, in whole or in part during the term commencing on the date hereof and ending at 5:00 P.M. Pacific time on the tenth anniversary of the date of this Warrant (the “Expiration Date”).