Grant of Option and Option Term Sample Clauses

Grant of Option and Option Term. Pursuant to the Agreement, Seller has granted to Buyer an exclusive, irrevocable option to purchase the Facility Assets (the “Project Purchase Option”). The Project Purchase Option may be exercised at any time: (a) one (1) year prior to the tenth (10th) anniversary of the Commercial Operation Exhibit 2.5 – Page 1 DB2/ 48370541.18 Date; (b) one (1) year prior to the fifteenth (15th) anniversary of the Commercial Operation Date; (c) one (1) year prior to every subsequent five (5) years after the fifteenth (15th) anniversary of the Commercial Operation Date until the end of the Agreement Term; (d) during the sixty (60) day period commencing on the date on which a Termination Notice is provided by Buyer to Seller pursuant to Section 13.3(a) of the PPA.
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Grant of Option and Option Term. Subject to the terms and conditions set forth herein and in the Plan, the Company hereby grants to the Optionee a Nonqualified Stock Option (the “Option”) to purchase from the Company, at a price of $[xx.xx] per share, an aggregate of ______ shares of Stock. The Award Date of the Option is _______, 20__. The term of the Option shall begin on the Award Date and shall end on the __ year anniversary of the Award Date, or such earlier date as set forth in 3 hereof or pursuant to the Plan (the “Option Term”). The Optionee expressly acknowledges receipt of a copy of the Plan and agrees to be bound by all of the provisions of the Plan.
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Grant of Option and Option Term. Subject to the terms and conditions hereof, and in reliance upon the representations, warranties, covenants and agreements made herein by Seller and Purchaser, Seller does hereby irrevocably grant to Purchaser the right, privilege and option to purchase from Seller equity interests in the Company owned by Seller up to the amount of the Interests in one or more transactions (the “Option”) for an aggregate purchase price for all of the Interests of Nine Million Fifty Eight Thousand Five Hundred Dollars ($9,058,500) (the “Purchase Price”). The term of the Option granted hereunder shall commence on the date hereof and shall expire (to the extent not exercised) at midnight on December 31, 2007 (the “Option Term”).
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Related to Grant of Option and Option Term

  • Grant of Option The Corporation hereby grants to Optionee, as of the Grant Date, an option to purchase up to the number of Option Shares specified in the Grant Notice. The Option Shares shall be purchasable from time to time during the option term specified in Paragraph 2 at the Exercise Price.

  • Term of Option This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement.