Give Back Option Clause Samples

Give Back Option. Notwithstanding anything to the contrary contained in the Lease, if during the Expansion Space Term, Tenant leases the entirety of one or more floors in the Building (other than the Existing Premises or the Expansion Space) (such floor(s) referred to herein as the “Additional Expansion Space”), Tenant shall, upon at least thirty (30) days’ prior written notice to Landlord, have the one-time option, without penalty, to terminate the Lease with respect to the Expansion Space only, which termination shall be effective on the third (3rd) consecutive day after the date on which Tenant moves into the Additional Expansion Space, and Landlord and Tenant shall execute an amendment to the Lease memorializing the termination of the Expansion Space and the lease of the Additional Expansion Space on terms and conditions reasonably acceptable to both parties.
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Give Back Option. If each of the conditions set forth in Section 6(a) (above) are satisfied, with respect to any reduction of a portion or all of the Premises in Building 4, the Parties will within thirty (30) days after Landlord’s receipt and written approval of such request from Tenant execute an amendment to the Lease in form and substance reasonably satisfactory to Landlord and on all the same terms and conditions set forth in the Lease, except that Tenant’s rental obligations under the Lease (including Tenant’s obligation to pay Minimum Rent, taxes and utilities) and Tenant’s right to utilize parking located on top of Building 4 will be reduced on a pro-rata basis to reflect the reduction in such square footage. Tenant shall deliver the Give Back space in the condition set forth in Section 13.17 of the Original Lease. For avoidance of doubt (and by way of example only), if Tenant properly utilizes the Give-Back Option to give back 50% of the Building 4 Premises, then, at Landlord’s option, Tenant will also be required to give back 50% of the total parking spaces located on top of Building 4, concurrently with the reduction of the Building 4 square footage; provided that the Parties agree to work in good faith to determine appropriate access to, and use of, any remaining parking spaces located on the rooftop of Building 4, recognizing the needs of both Landlord (with respect to parking for its intended use of any space that is given back in Building 4 pursuant to this Section 6) and Tenant (with respect to parking needed for its use of the remaining portion of the Premises that it will continue to occupy following any such give-back of a portion or all of Building 4).
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Give Back Option 
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Related to Give Back Option

  • Stock Option Award In the event of Employee’s involuntary Termination of Employment without Cause or Termination of Employment due to a resignation by Employee for Good Reason that, in either case, occurs on or before the second anniversary of a Change in Control, the Stock Option Award shall become exercisable immediately (whether or not previously exercisable) and shall remain exercisable for the three year period following such Termination of Employment. For this purpose, “Good Reason” has the same meaning determined by Employee’s written employment agreement in effect on the Grant Date. In the event there is no such agreement or definition, then Good Reason means the initial existence of one or more of the following conditions, arising without the consent of the Employee: (1) a material diminution in Employee’s base compensation; (2) a material diminution in Employee’s authority, duties, or responsibilities, so as to effectively cause Employee to no longer be performing the duties of his position; (3) a material diminution in the authority, duties, or responsibilities of the supervisor to whom Employee is required to report.

  • Stock Option Grant Subject to the provisions set forth herein and the terms and conditions of the Plan, and in consideration of the agreements of the Participant herein provided, the Company hereby grants to the Participant an Option to purchase from the Company the number of shares of Common Stock, at the exercise price per share, and on the schedule, set forth above.

  • Nonstatutory Stock Option If the Grant Notice so designates, this Option is intended to be a Nonstatutory Stock Option and shall not be treated as an Incentive Stock Option within the meaning of Section 422(b) of the Code.

  • Stock Option The Corporation hereby grants to the Optionee the option (the "Stock Option") to purchase that number of shares of Class A Common Stock of the Corporation, par value $.01 per share, set forth on Schedule A. The Corporation will issue these shares as fully paid and nonassessable shares upon the Optionee's exercise of the Stock Option. The Optionee may exercise the Stock Option in accordance with this Agreement any time prior to the tenth anniversary of the date of grant of the Stock Option evidenced by this Agreement, unless earlier terminated according to the terms of this Agreement. Schedule A sets forth the date or dates after which the Optionee may exercise all or part of the Stock Option, subject to the provisions of the Plan.

  • NOTICE OF STOCK OPTION GRANT Name: Address: