Extended Option Sample Clauses

An Extended Option clause grants one party the right to prolong a specific agreement or arrangement beyond its original term, typically by providing notice within a set timeframe. In practice, this might allow a tenant to continue leasing a property for an additional period under pre-agreed terms, or enable a buyer to extend the time to exercise a purchase option. The core function of this clause is to provide flexibility and certainty for both parties by clearly outlining the conditions and process for extending the agreement, thereby reducing the risk of disputes over continuation rights.
Extended Option. Customer shall have the option (“Extended Agreement Option”), exercisable on or prior to April 30, 2011 to extend the Processing Term and Print and Mail Term for an additional period through December 31, 2015 (the “Extended Term”) and to amend this Agreement pursuant to the terms of the amendment set forth in Schedule L (the “Extended Agreement Option Amendment”). Customer agrees to use commercially reasonable efforts to provide CSG with no less than *****-**** **** **** prior written notice of its intent to exercise the Extended Agreement Option Amendment. ** *** ***** ******** **** *** ******* *** ********* ****** ** ***** *** ****** ** ****** ********’* ***** ** ******** *** ******** ********* ******. Customer may exercise the Extended Agreement Option by executing and delivering to CSG the Extended Agreement Option Amendment in the form attached hereto as Schedule L. For the avoidance of doubt, the parties agree that the Extended Agreement Option Amendment shall not become effective until a version executed by Customer is delivered to CSG. Upon receiving the Extended Agreement Option Amendment executed by Customer, CSG shall execute such amendment and return a fully executed original to Customer; provided, however, that the parties agree that CSG’s execution shall not be required for such amendment to become effective. 2. Schedule L of the Agreement is deleted in its entirety and replaced with the Schedule L attached hereto as Attachment A. 3. The following language shall be inserted after the third “whereas” clause in the introductory language to the Agreement:
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Extended Option. If, prior to the last day of the Initial Option --------------- Period, the Parent notifies the Investor of its intent to extend the exercise period of the option described in this Section 1(b) and pays the Investor $607,940 in cash (the "Extended Option Payment") by wire transfer of immediately available funds to an account designated by the Investor within two business days after delivery of such notice) the Investor shall grant to the Parent an irrevocable option (the "Extended Option," and together with the Initial Option, the "Options"), exercisable, as provided in Sections 2 and 3 (subject to Section 1(d)), at any time during the 60-day period commencing on the first day following the Initial Option Period (the "Extended Option Period"), to purchase the KD Warrant for the Option Purchase Price.
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Extended Option. CSG and Customer shall negotiate in good faith to agree upon definitive terms of an option (“Extended Agreement Option”) that will be exercisable by Customer on or prior to April 30, 2011 and will provide for, among other things, the extension of the Processing Term and Print and Mail Term for an additional period through December 31, 2015 (the “Extended Term”) on terms substantially similar to those set forth in the non-binding term sheet set forth in Schedule L (the “Extended Agreement Option Amendment”).
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Extended Option. Employees taking early retirement shall have the ability to convert to self-paid early retirement coverage under District medical/dental insurance plans through age sixty-five (65) provided such coverage is available through the District's carrier and the employee is eligible at the time of retirement. The employee will be responsible for timely and proper payment of insurance premiums.
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Related to Extended Option

  • Negotiated Option If the Developer elects not to exercise its option under Article 5.1.3, Option to Build, Developer shall so notify Connecting Transmission Owner and NYISO within thirty (30) Calendar Days, and the Developer and Connecting Transmission Owner shall in good faith attempt to negotiate terms and conditions (including revision of the specified dates and liquidated damages, the provision of incentives or the procurement and construction of a portion of the Connecting Transmission Owner’s Attachment Facilities and Stand Alone System Upgrade Facilities by Developer) pursuant to which Connecting Transmission Owner is responsible for the design, procurement and construction of the Connecting Transmission Owner’s Attachment Facilities and System Upgrade Facilities and System Deliverability Upgrades. If the two Parties are unable to reach agreement on such terms and conditions, Connecting Transmission Owner shall assume responsibility for the design, procurement and construction of the Connecting Transmission Owner’s Attachment Facilities and System Upgrades Facilities and System Deliverability Upgrades pursuant to 5.1.1, Standard Option.

  • Vested Options On the next regularly scheduled payroll date of the Surviving Corporation occurring more than five (5) Business Days but less than twenty (20) Business Days following the Closing Date, the Surviving Corporation shall pay to each holder of a Vested Option (other than with respect to Non-Withholding Options) for whom Acquiror has received a duly executed Option Termination Agreement an amount in cash equal to the number of shares of Common Stock subject to such Vested Option multiplied by an amount equal to the difference between (a) the Per Share Closing Consideration, minus (b) the exercise price per share under such Vested Option, minus (c) such holder’s applicable Percentage of the Escrow Amount in respect of such Vested Option (the “Closing Options Payout Amount”). Following the Effective Time, the Paying Agent shall cause the applicable Closing Options Payout Amount to be paid to each holder of a Vested Option which is a Non-Withholding Option for whom Acquiror has received a duly executed Option Termination Agreement. The Closing Options Payout Amount payable to each holder of a Vested Option shall be set forth opposite such holder’s name on the Payment Schedule (such consideration subject to adjustment as provided herein and any applicable withholding Taxes). In the event of a conflict between the Payment Schedule and the provisions of this Agreement, the Payment Schedule shall control. Notwithstanding anything to the contrary herein or in the Company’s Amended and Restated Certificate of Incorporation (as amended as of the date hereof) (the “Restated Certificate”), Acquiror, Merger Sub, the Surviving Corporation, the Equityholder Representative and the Paying Agent shall be entitled to rely on the Payment Schedule as conclusive evidence of amounts payable to the holders of Vested Options pursuant to this Agreement. Each holder of a Vested Option, subject to receipt of a duly executed Option Termination Agreement, shall be entitled to receive with respect to each Vested Option subject thereto, such holder’s Percentage of the Earnout Payments, as and when such payments are required to be made, which amount shall be paid on the same schedule and on the same terms and conditions as apply to the Stockholders generally.

  • Unvested Options Except where prohibited by Applicable Law, each Unvested Option held by a Continuing Employee shall, on the terms and subject to the conditions set forth in this Agreement, be assumed and converted by Acquirer (such Unvested Options assumed hereunder, the “Assumed Options”) in accordance with Section 409A of the Code and Section 424 of the Code, and the attendant Treasury Regulations under such Code sections, and in accordance with Section 5.12. As set forth in Section 5.12, subject to any agreement entered into by such Continuing Employee with Acquirer or the Surviving Corporation, each Assumed Option shall be subject to the same vesting arrangements (including with respect to any acceleration existing as of the date hereto) that were applicable to such Assumed Option immediately prior to or at the Effective Time, except that (i) such Assumed Option shall be exercisable for that number of whole shares of Acquirer Class A Common Stock equal to the product (rounded down to the next whole number of shares of Acquirer Class A Common Stock, with no cash being payable for any fractional share eliminated by such rounding) of the number of shares of Company Common Stock that were issuable upon exercise of such option immediately prior to the Effective Time and the Option Exchange Ratio, (ii) the per share exercise price for the shares of Acquirer Class A Common Stock issuable upon exercise of such Assumed Option shall be equal to the quotient (rounded up to the next whole cent) obtained by dividing the exercise price per share of Company Common Stock at which such option was exercisable immediately prior to the Effective Time by the Option Exchange Ratio and (iii) subject to obtaining any consent required under the Company Option Plan from such Company Optionholder, no Assumed Option may be “early exercised” (i.e., an Assumed Option may be exercised for shares of Acquirer Class A Common Stock only to the extent the Assumed Option is vested at the time of exercise pursuant to the applicable vesting schedule). Acquirer will not assume any Unvested Options held by Persons that do not become Continuing Employees as of the Effective Time, and each such Unvested Option that is not an Assumed Options shall be cancelled for no consideration.

  • Our Option If we give you written notice within 30 days after we receive your signed, sworn proof of loss, we may repair or replace any part of the damaged property with material or property of like kind and quality.

  • Additional Options The NYS Contract Price for Additional Options offered under the Contract in accordance with Section III.2.7 Additional Options, shall be the Additional Options NYS Discount listed on the Contract Pricelist, or higher, applied to the MSRP on the current OEM Data Book or Contractor-Published Pricelist, as applicable. See Section III.1.2