Expiration and Termination of Option Sample Clauses

The 'Expiration and Termination of Option' clause defines the conditions under which an option—such as a right to purchase property or securities—will end or become void. It typically outlines specific dates or events that trigger the expiration, as well as circumstances like breach of contract or failure to meet certain requirements that may lead to early termination. This clause ensures both parties are aware of the time limits and actions that can affect the validity of the option, thereby providing clarity and reducing the risk of disputes over when the option is no longer available.
Expiration and Termination of Option. This Option will expire upon the close of business on the Expiration Date and may terminate earlier upon certain events as set forth in Section 4 of this Option. To the extent that this Option has not been exercised prior to the Expiration Date or any earlier termination, all further rights to purchase shares pursuant to this Option will cease and terminate at such time.
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Expiration and Termination of Option. (a) The Option shall expire and, thus, no longer be exercisable on the tenth (10th) anniversary of the Date of Grant. (b) The Option shall terminate upon the termination, for any reason, of the Participant's employment with the Company or an Affiliate, and no shares of Stock may thereafter be purchased under the Option except as follows: (i) Where the Participant's employment with the Company or an Affiliate is terminated due to the death of the Participant, the Option may be exercised after the Participant's death by the Participant's designated beneficiary, the Participant's heir, the legal representative of the Participant's estate or by the legatee of the Participant under his last will for a period of twelve (12) months from the date of the Participant's death but only to the extent (A) the Option would be exercisable in accordance with Section 2(a) hereof as of the date of the Participant's death, (B) the exercise period of the Option has not expired under Section 4(a) hereof and (C) the Option has not otherwise been terminated. (ii) Where the Participant's employment with the Company or an Affiliate is terminated due to the Disability of the Participant, the Option may be exercised by the Participant after such termination of employment for a period of twelve (12) months from the date of such termination of employment but only to the extent (A) the Option would be exercisable in accordance with Section 2(a) hereof as of the date of such termination, (B) the exercise period of the Option has not expired under Section 4(a) hereof and (C) the Option has not otherwise been terminated. (iii) Where the Participant's employment with the Company or an Affiliate is terminated for any reason other than by reason of death, Disability or Misconduct, the Option may thereafter be exercised for a period of three (3) months from the date of such termination of employment but only to the extent (A) the Option would be exercisable in accordance with Section 2(a) hereof as of the date of such termination,
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Expiration and Termination of Option. This Option will expire at 5:00pm Pacific Time on the Expiration Date and may terminate earlier upon certain events as set forth in Section 4 of this Incentive Stock Option Agreement. To the extent that this Option has not been exercised prior to the Expiration Date or any earlier termination, all further rights to purchase shares pursuant to this Option will cease and terminate at such time.
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Expiration and Termination of Option. If the Option is not exercised in the manner provided above on or before five o’clock p.m. E.S.T. on the last day of the Option Period, the Option shall expire and be null and void and of no further force and effect; provided, however, if said day shall be a Saturday, Sunday or legal holiday, the Option Period shall be extended until five o’clock p.m. E.S.T. on the next following regular business day. Additionally, Landlord and Tenant acknowledge and agree that the Option shall become null and void and of no further force and effect upon the occurrence of an Event of Default that is not cured by Tenant under this Lease or upon the termination of this Lease.
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Expiration and Termination of Option. (a) The Option shall have a term expiring on the tenth anniversary of the Grant Date ("TERM"), or earlier pursuant to Section 2(c). (b) Subject to Section 2(c) and 2(d) hereof, the Option shall be vested and exercisable pursuant to the following schedule, provided that the Optionee has been in the continuous employ of the Company or its subsidiaries through the periods set forth: VESTING DATE PORTION OF OPTION THAT IS VESTED AND EXERCISABLE ------------ ------------------------------------------------ First Anniversary of A Total of One-Third of the Option the Grant Date Second Anniversary of A Total of Two-Thirds of the Option the Grant Date Third Anniversary of A Total of Three-Thirds of the Option the Grant Date (c) Upon the occurrence of a Change in Control of the Company (as defined in Section 10(a) of the Employment Agreement), the unvested portion of the Option shall immediately vest in full and shall be exercisable. (d) If Optionee's employment terminates during the Term, then Optionee's vesting and exercise rights under the Option shall be as set forth at Section 8 (vesting and exercise) or Section 10(c) (exercise) of the Employment Agreement, as the case may be.
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Expiration and Termination of Option. The Option shall expire and, thus, no longer be exercisable on the tenth (10th) anniversary of the Grant Date, unless terminated earlier pursuant to any of the following: (a) If the directorship of the Participant is terminated on account of fraud, dishonesty or other acts detrimental to the interests of the Company or any direct or indirect majority-owned subsidiary of the Company, the Option, including any portion of the Option which has vested or is otherwise exercisable by the Participant, shall terminate as of the date of such termination. (b) Upon the death or disability (as defined in Section 22(e)(3) of the Code) of a Participant prior to the expiration of the Option, the Option may be fully exercised, whether or not the Participant was entitled to exercise it on the date thereof, at any time within twelve (12) months after such death or disability. Thereafter, the Option shall terminate and no longer be exercisable. (c) If the directorship of a Participant is terminated for any reason other than the circumstances described in subparagraph (a) or (b) above, the Option may be exercised within three (3) months after such termination to the extent the Participant was able to do so at the date of termination of the directorship. Thereafter, the Option shall terminate and no longer be exercisable. Notwithstanding the foregoing, if the Participant becomes an employee of the Company or an Affiliate upon the termination of his directorship, the Option shall expire after the termination of employment in a manner that is consistent with this subparagraph (c).
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Expiration and Termination of Option. The Option shall be exercisable subject to the provisions of Article IV hereof, on or before the tenth (10th) anniversary of the Effective Date of Grant, at the end of which period it shall expire or become void to the extent it then remains unexercised. Subject to the provisions of Article IV hereof, if Optionee shall cease to be employed by the Company for any reason other than death, Optionee may, within the three (3) months next succeeding such cessation of employment (unless the Option shall sooner expire), exercise such Option to the extent Optionee was entitled to exercise it as of the date of such cessation, and at the expiration of such three (3) months, the Option (unless it shall have sooner expired) shall terminate and become void to the extent that it then remains unexercised. This Option Agreement does not confer upon Optionee any right with respect to continuance of employment by the Company, nor shall it interfere in any way with the right of the Optionee or the Company to terminate employment of Optionee at any time.
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Expiration and Termination of Option 
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Related to Expiration and Termination of Option

  • Expiration and Termination This Agreement is for one academic year (August 1, 2018 through July 31, 2019) and will automatically renew for the following academic year unless terminated as indicated below by either party. a. Any party may terminate this Agreement by written notice to the other at any time if that other party: (i.) commits a breach of this Agreement and, has not yet remedied the breach within 14 days of being notified of the facts and circumstances giving rise to the breach; or

  • Duration and Termination of Agreement This Agreement shall become effective with respect to each Portfolio on the later of (i) its execution and (ii) the date of the meeting of the Board of Trustees of the Trust, at which meeting this Agreement is approved as described below. The Agreement will continue in effect for a period more than two years from the date of its execution only so long as such continuance is specifically approved at least annually either by the Trustees of the Trust or by a majority of the outstanding voting securities of each of the Portfolios, provided that in either event such continuance shall also be approved by the vote of a majority of the Trustees of the Trust who are not interested persons (as defined in the Investment Company Act) of any party to this Agreement cast in person at a meeting called for the purpose of voting on such approval. Any required shareholder approval of the Agreement or of any continuance of the Agreement shall be effective with respect to any Portfolio if a majority of the outstanding voting securities of the series (as defined in Rule 18f-2(h) under the Investment Company Act) of shares of that Portfolio votes to approve the Agreement or its continuance, notwithstanding that the Agreement or its continuance may not have been approved by a majority of the outstanding voting securities of (a) any other Portfolio affected by the Agreement or (b) all the portfolios of the Trust. If any required shareholder approval of this Agreement or any continuance of the Agreement is not obtained, the Subadviser will continue to act as investment subadviser with respect to such Portfolio pending the required approval of the Agreement or its continuance or of a new contract with the Subadviser or a different adviser or subadviser or other definitive action; provided, that the compensation received by the Subadviser in respect of such Portfolio during such period is in compliance with Rule 15a-4 under the Investment Company Act. This Agreement may be terminated at any time, without the payment of any penalty, by the Trustees of the Trust, by the vote of a majority of the outstanding voting securities of the Trust, or with respect to any Portfolio by the vote of a majority of the outstanding voting securities of such Portfolio, on sixty days' written notice to the Adviser and the Subadviser, or by the Adviser or Subadviser on sixty days' written notice to the Trust and the other party. This Agreement will automatically terminate, without the payment of any penalty, in the event of its assignment (as defined in the Investment Company Act) or in the event the Advisory Agreement between the Adviser and the Trust terminates for any reason.

  • Expiration and Termination of Restrictions The restrictions imposed under Section 2 will expire on the earliest to occur of the following (the period prior to such expiration being referred to herein as the "Restricted Period"): (a) As to the percentages of the Shares specified in the vesting schedule on page 1 of this Award Agreement, on the respective dates specified in the vesting schedule on page 1; provided you are then still employed by or in the service of the Company or an Affiliate; or (b) Upon termination of your employment by reason of death or Disability; or (c) Upon a Change in Control (as defined in the 2007 Plan).

  • Term and Termination of Agreement This Agreement shall terminate upon the earlier of termination of the Advisory Agreement or on expiration of the Expense Limit Period. The obligation of the Adviser under Section 1 of this Agreement and of the Trust under Section 2 of this Agreement shall survive the termination of the Agreement solely as to expenses and obligations incurred prior to the date of such termination.

  • Duration and Termination This Agreement shall become effective with respect to each Fund as of the corresponding effective date indicated in Appendix A and, unless sooner terminated with respect to a Fund as provided herein, shall continue in effect for a period of two years as to such Fund. Thereafter, if not terminated, this Agreement shall continue in effect with respect to the Fund for successive periods of 12 months, provided such continuance is specifically approved at least annually by both (a) the vote of a majority of the Trust’s Board of Trustees or the vote of a majority of the outstanding voting securities of the Fund at the time outstanding and entitled to vote, and (b) the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval. Notwithstanding the foregoing, this Agreement may be terminated by the Trust at any time as to a Fund, without the payment of any penalty, upon giving the Advisor 60 days’ notice (which notice may be waived by the Advisor), provided that such termination by the Trust shall be directed or approved (x) by the vote of a majority of the Trustees of the Trust in office at the time or by the vote of the holders of a majority of the voting securities of the Fund at the time outstanding and entitled to vote, or (y) by the Advisor on 60 days’ written notice (which notice may be waived by the Trust). This Agreement will also immediately terminate in the event of its assignment. (As used in this Agreement, the terms “majority of the outstanding voting securities,” “interested person” and “assignment” shall have the same meanings of such terms in the 1940 Act.)