Exercise of Option and Closing Clause Samples

Exercise of Option and Closing. The Option herein provided to the Optionee/Purchaser shall be exercised and the closing of this transaction shall occur either by the fact of concluding the purchase and taking possession within any Option period or by notice in writing to the Optionor/Seller within any Option period and with the fact of concluding the purchase and taking possession within sixty (60) days of such notice, at the time and place in Champaign County designated by Optionee/Purchaser.
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Exercise of Option and Closing. 2.1 Exercise Schedule (1) Party B agrees that, to the extent permitted under the laws of the PRC, Party A may exercise all or part of the Option hereunder at any time hereafter. (2) Party B agrees that there is no limit to the number of times that Party A may exercise the Option, unless Party A has acquired all of the Company’s equity interests held by Party B. (3) Party B agrees that Party A may appoint a third party as its attorney-in-fact to exercise the Option, provided that Party A shall notify Party B in writing prior to such exercise. 2.2 Transfer Party B agrees that Party A may transfer to any third party all or part of the Option hereunder, whereupon such third party will be entitled to exercise the Option subject to the provisions hereof and have Party A’s rights and obligations hereunder as if it were a party hereto.
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Exercise of Option and Closing. The Optionee’s commitment to exercise the Option shall be delivered no later than March 31, 2020. The Option shall be exercised by mailing, certified mail, or hand delivering written notice of Optionee's intent to exercise this Option to Optionor’s address listed above, said mailing to occur on or before said date. The Optionee may assign its right to purchase all or a portion of the LAND upon giving written notice of such assignment to Optionor, provided it arranges for simultaneous closing on the LAND and all terms of this Option remain the same. The closing shall occur on or before April 30, 2020. It is the CITY’S intent to close earlier if possible. The CITY’S obligations are contingent on City Council approval, funding, title, and survey. The easement shall be used as a greenway trail open to the public and consistent with open space purposes.
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Exercise of Option and Closing. In the event that TRC desires to exercise the Option as to one or more of the Initial Claim Groups, it shall deliver written notice of exercise to Owner, which notice shall specify the Initial Claim Group or Groups as to which the Option is being exercised at that time. Following Owner’s receipt of TRC’s notice, the closing of the purchase and sale (a “Closing”) of the one percent (1.0%) Royalty interest in the Initial Claim Group or Groups identified in TRC’s notice shall be held at 10:00 a.m. on the date that is ten (10) days following Owner’s receipt of the notice of exercise, at a location in Reno, Nevada, specified by TRC in its notice, unless the Parties otherwise mutually agree. At the Closing, the following shall occur: (i) TRC shall deliver to Owner a cashiers’ check or certified funds in the amount of the Option Price for each Initial Claim Group identified in TRC’s notice of exercise; and (ii) Owner shall deliver to TRC a duly executed and acknowledged assignment, in the form attached to this Agreement as Exhibit B, of a total one percent (1%) Net Smelter Return Royalty interest in the Initial Claim Group or Groups identified in TRC’s notice of exercise.
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Exercise of Option and Closing. The Optionee, in accordance --------------------------------------------- with the terms and conditions of this Agreement, shall give not less than thirty (30) days prior written notice to the Optionors of Optionee's intention to exercise such Option. The closing of the purchase under such Option shall be held as promptly as possible after such notice has been received, but not later than sixty (60) days following such notice, except as otherwise agreed by the Optionee and Optionors. At closing, the Optionors shall deliver to Optionee certificates representing Optionors' Shares of the Company, duly endorsed or accompanied by duly executed stock powers or assignments. Optionors shall also execute and deliver a closing certificate, in form and substance satisfactory to the Optionee, warranting and representing to such individuals or entities that: (i) the Optionors have the full right, power and authority to transfer the shares, and that such shares are being transferred free and clear of all liens, claims and encumbrances; (ii) the shares constitute 100% of the Company stock; and (iii) no other person has any warrants, options, or rights with respect to such Stock; and, Optionee shall deliver the Consideration to the Optionors.
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Exercise of Option and Closing. In the event that (i) Buyer is unable to obtain a permanent exemption to registration under the 1940 Act prior to the receipt of the required shareholder approvals and other regulatory approvals under the Merger Agreement, (ii) the 1940 Act remains in full force and effect and would impose materially burdensome terms and conditions on Buyer as a registrant under such Act, (iii) registration as a holding company under the 1935 Act provides a permanent exemption to registration under the 1940 Act, and (iv) the Buyer shall have complied in all material respects with the provisions of Section 6.9 hereof, the Buyer may exercise the Option by delivery of written notice of exercise to Seller prior to the expiration of the Option. The closing of the transactions contemplated by this Agreement (the "Closing") shall be held at 10:00 a.m. on the third Business Day following the later of (i) delivery of written notice of exercise of the Option by Buyer to Seller and (ii) satisfaction of the conditions precedent to the sale and purchase of the Company Stock, to be effective as of such day, at the offices of LeBoeuf, Lamb, ▇▇▇▇▇▇ & ▇▇▇▇▇▇, L.L.P. in New York, New York, or at such other time, date or place as the parties may mutually agree (hereinafter referred to as the "Closing Date").
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Exercise of Option and Closing. The Optionee’s commitment to exercise the Option shall be delivered no later than one hundred and twenty days from the Effective Date. The Option shall be exercised by delivering by overnight mail, certified mail, return receipt requested or hand delivering written notice of Optionee's intent to exercise this Option, along with a check payable to “▇▇▇▇▇▇▇ Real Estate, Escrow Agent” equal to 5% of the applicable purchase price as a deposit (“Deposit”), to Optionor’s address listed above. Hand delivery to ▇▇▇▇▇▇ Bloomberg Ohm LLP, counsel for the Optionor, shall constitute hand delivery within the meaning of this
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Exercise of Option and Closing. The Optionee’s commitment to exercise the Option shall be delivered no later than March 31, 2020. The Option shall be exercised by mailing, certified mail, or hand delivering written notice of Optionee's intent to exercise this Option to Optionor’s address listed above, said mailing to occur on or before said date. The Optionee may assign its right to purchase all or a portion of the LAND upon giving written notice of such assignment to Optionor, provided it arranges for simultaneous closing on the LAND and all terms of this Option remain the same. The closing shall occur on or before April 30, 2020. It is the CITY’S intent to close earlier if possible. The CITY’S obligations are contingent on City Council approval, funding, title, survey, and any final site assessment. The property shall be used as a conservation greenway with trails and habitat improvements consistent with open space purposes. No other deed restrictions shall be imposed on the property.
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Exercise of Option and Closing 
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Related to Exercise of Option and Closing

  • Exercise of Option The Over-allotment Option granted pursuant to Section 1.2.1 hereof may be exercised by the Representative as to all (at any time) or any part (from time to time) of the Option Units within 45 days after the effective date (“Effective Date”) of the Registration Statement (as defined in Section 2.1.1 hereof). The Underwriters will not be under any obligation to purchase any Option Units prior to the exercise of the Over-allotment Option. The Over-allotment Option granted hereby may be exercised by the giving of oral notice to the Company by the Representative, which must be confirmed in accordance with Section 10.1 herein setting forth the number of Option Units to be purchased and the date and time for delivery of and payment for the Option Units (the “Option Closing Date”), which will not be later than five (5) full Business Days after the date of the notice or such other time and in such other manner as shall be agreed upon by the Company and the Representative, at the offices of EG&S or at such other place (including remotely by facsimile or other electronic transmission) as shall be agreed upon by the Company and the Representative. If such delivery and payment for the Option Units does not occur on the Closing Date, the Option Closing Date will be as set forth in the notice. Upon exercise of the Over-allotment Option, the Company will become obligated to convey to the Underwriters, and, subject to the terms and conditions set forth herein, the Underwriters will become obligated to purchase, the number of Option Units specified in such notice.

  • Exercise of Options 4.1 No portion of the option granted hereunder may be exercised for a fraction of a share. The option granted hereunder shall be deemed to be exercised when written notice of such exercise has been given to the Corporation to the attention of the Secretary of the Corporation accompanied by full payment of the exercise price and by such other documents as the Board of Directors of the Corporation (the "Board") may reasonably request. Until the issuance (as evidenced by the appropriate entry on the books of the Corporation or of a duly authorized transfer agent of the Corporation) of the stock certificate evidencing such Option Shares, no right to vote or receive dividends or any other rights as a shareholder shall exist with respect to the Option Shares, notwithstanding the exercise of the Option. The Corporation shall issue (or cause to be issued) such stock certificate promptly upon exercise of any portion of the option granted hereunder. No adjustment will be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 5 hereof. Exercise of a portion of the option granted hereunder in any manner shall result in a decrease in the number of Option Shares which thereafter may be available by the number of Shares as to which the Option is exercised. 4.2 In the event of termination of an Optionee as an employee or consultant with the Corporation (but not in the event of an Optionee's change of status from employee to consultant or from consultant to employee), such Optionee may, but only within such period of time as is determined by the Board, of at least thirty (30) days (but in no event later than the Option Expiration Date), exercise the option granted hereunder to the extent that Optionee was entitled to exercise it under Section 2 hereof at the date of such termination, or to such greater extent as may be determined by the Board. If the Optionee does not exercise such option to the extent so entitled within the time specified herein, the option shall terminate. 4.3 In the event of termination of an Optionee's status as an employee or consultant as a result of the Optionee's "disability," as defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended, the Optionee may exercise the option granted hereunder within twelve (12) months from the date of the Optionee's termination (but in no event shall the Optionee be entitled to exercise the option after the Option Expiration Date) to the extent that Optionee was entitled to exercise it under Section 2 on the date of termination. 4.4 In the event of the death of the Optionee, the option granted hereunder may be exercised at any time within twelve (12) months following the date of death (but in no event later may the option be exercised after the Option Expiration Date), by the Optionee's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option in accordance with Section 2 hereof on the date of death.

  • Time of Exercise of Option The Optionee may exercise the option granted herein at any time after the effective date of this Agreement until the date of termination of the option as provided herein.

  • Term and Exercise of Option a. The term of this Option shall commence on the Grant Date set forth above and shall continue until the Expiration Date set forth above, unless earlier terminated as provided herein. b. This Option shall be exercisable only in the event that and to the extent that such Option has become vested and exercisable pursuant to the terms of this Section 3.b (or Sections 7 or 8 below, if applicable). Subject to the earlier termination of this Option pursuant to its terms and to the terms of the Option Plan, this Option shall vest and become exercisable as follows, but only if the Optionee is then an employee of or continues to provide services to the Company or an Affiliate at the specified time: (i) Up to twenty percent (20%) of such Option Shares (rounded down to the nearest whole share) may be purchased at any time after one (1) year from the Grant Date and prior to the termination of this Option; (ii) Up to forty percent (40%) of such Option Shares (rounded down to the nearest whole share and less any shares previously purchased pursuant to this Option that vest pursuant to this Section 3.b) may be purchased at any time after two (2) years from the Grant Date and prior to the termination of this Option; (iii) Up to sixty percent (60%) of such Option Shares (rounded down to the nearest whole share and less any shares previously purchased pursuant to this Option that vest pursuant to this Section 3.b) may be purchased at any time after three (3) years from the Grant Date and prior to the termination of this Option; (iv) Up to eighty percent (80%) of such Option Shares (rounded down to the nearest whole share and less any shares previously purchased pursuant to this Option that vest pursuant to this Section 3.b) may be purchased at any time after four (4) years from the Grant Date and prior to the termination of this Option; (v) Up to 100% of such Option Shares (less any shares previously purchased pursuant to this Option that vest pursuant to this Section 3.b) may be purchased at any time after five (5) years from the Grant Date and prior to the termination of this Option. c. To exercise this Option, the Optionee shall satisfy the following conditions: (i) deliver written notice to the Company at its principal office within the option period, which written notice must be in the form of attached Exhibit A to this Agreement, and (ii) deliver payment in full for the Option Shares with respect to which this Option is then being exercised, as provided in Section 4(a) below. d. Neither the Optionee nor the Optionee’s legal representatives, legatees or distributees, as the case may be, will be, or will be deemed to be, a holder of any Option Shares for any purpose unless and until certificates for such Option Shares are issued (or are reflected upon the official records of the Company) to the Optionee or the Optionee’s legal representatives, legatees or distributees, under the terms of the Option Plan.

  • Manner of Exercise of Option (a) To the extent that the right to exercise the Option has accrued and is in effect, the Option may be exercised in full or in part by giving written notice to the Company stating the number of Shares as to which the Option is being exercised and accompanied by payment in full for such Shares. No partial exercise may be made for less than one hundred (100) full Shares of Common Stock. Payment shall be made in accordance with the terms of the Plan. Upon such exercise, delivery of a certificate for paid-up, non- assessable Shares shall be made at the principal office of the Company to the person exercising the Option, not less than thirty (30) and not more than ninety (90) days from the date of receipt of the notice by the Company. (b) The Company shall at all times during the term of the Option reserve and keep available such number of Shares of its Common Stock as will be sufficient to satisfy the requirements of the Option.