Expiration of the Option Clause Samples
The 'Expiration of the Option' clause defines the specific date or conditions under which an option granted under a contract will no longer be exercisable. Typically, this clause sets a clear deadline by which the option holder must act, such as a fixed calendar date or a period following a triggering event. By establishing a definitive end point for the option's validity, this clause ensures both parties understand the timeframe for exercising rights, thereby preventing disputes and providing certainty regarding the duration of the option.
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Expiration of the Option. The Option (to the extent not earlier exercised or terminated in accordance with the Plan) will expire at the end of business on February 25, 2012, which date is not in excess of ten (10) years from the Date of Grant of the Option. The Option may terminate sooner under certain circumstances, including termination of the Optionee's employment or other business relationship with the Company and/or any Affiliated Entity, as set forth in SECTIONS 5.13 and 5.14 of the Plan or upon certain Changes in Control, as provided in SECTION 8.2 of the Plan. The Option may not be exercised after its expiration or termination.
Expiration of the Option. In the event that the End Date shall have occurred with no Echo Option Trigger having occurred or no Option Notice having been delivered pursuant to the terms hereof, the Option shall expire and be null and void and this Agreement shall terminate without further action by the parties hereto at the End Date, subject to Section 15, unless otherwise extended in writing by each of the parties hereto.
Expiration of the Option. This Option shall expire on the date set forth in Schedule 1 (the "Expiration Date"), unless earlier terminated as set forth in Section 7 below, and may not be exercised after such date.
Expiration of the Option. The Option shall expire and may no longer be exercised on or after the date ten (10) years after the Date of Grant (the "Expiration Date").
Expiration of the Option. The Option (to the extent not earlier exercised or terminated due to cessation of the Optionee's employment or otherwise in accordance with the Plan) will expire at the end of business on _______, ____, ___(__) years from the Date of Grant of the option. The Option may terminate sooner under certain circumstances, including, without limitation, termination of the Optionee's employment, as set forth in Section 5.13 (death, normal retirement, Permanent Disability and termination for other reasons) of the Plan. The Option may not be exercised after its expiration or termination.
Expiration of the Option. The right to exercise this Option shall expire upon the earlier of (i) the termination of the Merger Agreement, (ii) the Effective Time or (iii) at 5:00 p.m., New York City, New York time, on the 30th Business Day following the consummation of the Offer (the “Expiration Date”).
Expiration of the Option. The Option shall terminate and cease to be exercisable on the first to occur of the following events:
(a) the date which is the tenth (10th) anniversary of the Annual Grant Date unless earlier terminated pursuant to clause (iii) below;
(b) the expiration of one (1) month from the date of a person’s Termination of Service for any reason other than death, Disability or Retirement; or
(c) the expiration of five (5) years from the date of a person’s death, whether before or after a Termination of Service.
Expiration of the Option. This option may be exercised at any time until the first of the following events: (a) the expiration of ten (10) years from the date the option is granted, or (b) the effective date of (i) a merger or consolidation of FHGLP with another person, (ii) the acquisition by another person of all or substantially all the assets or a majority of the then outstanding partnership interests of FHGLP, or (iii) the dissolution and liquidation of FHGLP (collectively, the "Dissolution Events"). At least thirty (30) days prior to the effective date of any Dissolution Event, FHGLP shall give Advance's notice of such event if this option has then not been exercised.
Expiration of the Option. After the applicable Exercise Period provided above, the Option, if unexercised, shall be forfeited and no longer exercisable (even if the reason Employee has not exercised the Option is because the Option Price exceeded the Fair Market Value of a Share at the Expiration Date).
Expiration of the Option. The Option will expire at the earlier of (i) 11:59 p.m. Eastern Standard Time on January 7, 2020, being the tenth anniversary of the Grant Date or (ii) 12 months after the date on which the Optionee ceases to be employed by the Employer for any reason.