Issuance of the Option Clause Samples

The 'Issuance of the Option' clause defines the process by which an option—typically the right to purchase shares or assets at a future date—is formally granted to a party. This clause outlines the conditions under which the option is issued, such as the timing, the number of options, and any prerequisites that must be met before issuance. For example, it may specify that the option is granted upon signing the agreement or after achieving certain milestones. Its core practical function is to clearly establish when and how the option rights come into existence, thereby preventing disputes over entitlement and ensuring both parties understand the terms of the grant.
Issuance of the Option. The Option is duly authorized and, when issued in accordance with this Agreement, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens.
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Issuance of the Option. By execution hereof, MicroCap hereby grants the Option to Telescan. The exercise price of this Option will be $3.75 per share (the "Exercise Price"). The number of Option Shares and the Exercise Price per Option Share under this Option are subject to adjustment as provided in Section 5 hereof and shall in the aggregate upon exercise cause Telescan to own no more than 19.99% ofthe then outstanding shares of common stock of MicroCap.
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Issuance of the Option. On the Closing Date, subject to the terms and conditions set forth herein, the Seller shall issue the Option to the Buyer.
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Issuance of the Option. The Options are being issued to Ken ▇. ▇▇▇▇▇▇▇ ▇▇ of May 22, 2001.
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Issuance of the Option. Simultaneously with the execution and delivery of this Agreement, the Company shall issue and deliver to the Optionee a certificate evidencing the Option in the form attached hereto as Exhibit A.
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Issuance of the Option. The Option are being issued to Ste▇▇▇▇ ▇. ▇▇▇▇▇▇ ▇▇ of August 15, 2001.
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Related to Issuance of the Option

  • Exercise of the Option Each Research Organisation receiving a substantial contribution as referred to under Section 8.5 shall promptly disclose in confidence to the Project Coordinator any Foreground conceived by it in connection with its Activities under the Project. The Project Coordinator shall notify the Industrial Partner(s) with an Option on the Foreground conceived. The Industrial Partner(s) may exercise the Option at any time until the earlier of (i) [1 (one) month] after the date of disclosure by the Project Coordinator or (ii) the completion of the Project, after which period the Option will lapse. An Option may be exercised on one or more occasions in respect of the Foreground that is subject to a separate Option. The Option shall be deemed to be declined in respect of the Industrial Partner that has not informed the Research Organisation owning (part of) such Foreground within the aforesaid term. If the Option is exercised, the Industrial Partner(s) and Research Organisation shall negotiate in good faith for a period of up to 90 (ninety) calendar days, or such longer period as may be agreed upon between the Participants, all necessary commercial arrangements taking into account the stage of development and the relative contribution of the Research Organisation to the Foreground and subject to the minimum conditions set out in Section 8.7. If the Participants fail to reach agreement, the Option shall lapse, and the Research Organisation shall be free to exploit the Foreground. Minimum conditions. Any transfer or license agreement as referred to in Section 8.5 shall at a minimum contain the following conditions: the Industrial Partner(s) shall pay the Research Organisation a fair and reasonable market price in respect of access to or assignment of ownership of the (joint) Foreground. The Industrial Partner(s) is entitled to deduct an amount from the fair market price equal to the value of its contribution under the Project as set out in the Budget; in the case of a license, an anti-shelving clause for the Industrial Partner (i.e. use of commercially reasonable efforts to effectively commercialise or apply the Foreground); a non-exclusive license for the Research Organisation for the use of the Foreground for academic research and teaching purposes; an indemnification obligation by the Industrial Partner to the Research Organisation against any third Participant claims for damages resulting from the use of the Foreground; a warranty from the Industrial Partner(s) to respect the Access Rights of the other Participants granted under this Consortium Agreement with respect to the Foreground pursuant to Section 9.3, including a warranty that these Access Rights will not be affected by a subsequent transfer or license of the Foreground.

  • Term of the Option The term of the Option (the “Option Period”) shall be for a period of ten (10) years from the Effective Date, terminating at the close of business on the tenth anniversary of the Effective Date (the “Expiration Date”) or such shorter period as provided in Section 6 hereof.

  • Issuance of Warrant The issuance of the Warrant is duly authorized and will be validly issued, fully paid and non-assessable, and free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights of shareholders of the Company and will not impose personal liability upon the holder thereof.

  • Issuance of the Shares The Shares are duly authorized and, when issued and paid for in accordance with the applicable Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company other than restrictions on transfer provided for in the Transaction Documents.

  • Termination of the Option The Option shall terminate and may no longer be exercised after the first to occur of (a) the close of business on the Option Expiration Date, (b) the close of business on the last date for exercising the Option following termination of the Participant’s Service as described in Section 7, or (c) a Change in Control to the extent provided in Section 8.