Lapse of Option. In the event Grantee does not deliver a Notice of Exercise to Owner during the Option Period, then subject to the cure provisions set forth in Section 8.1 of this Option Agreement, the Owner shall have the right to terminate this Option Agreement, and the rights granted by Owner to Grantee in this Option Agreement shall be of no further force or effect.
Appears in 4 contracts
Sources: Option to Lease Agreement, Option to License Agreement, Option to Lease Agreement
Lapse of Option. In the event Grantee does not deliver a Notice of Exercise to Owner during the Option PeriodTerm, then subject to the cure provisions set forth in Section 8.1 of this Option Agreement, the Owner shall have the right to terminate this Option Agreement, and the rights granted by Owner to Grantee in this Option Agreement shall be of no further force or effect.
Appears in 1 contract
Sources: Community Solar Net Metering Credit Sales Agreement