Option Payments Clause Samples

Option Payments. Merck shall pay Tularik an exercise fee of [ * ] with respect to each Option Program as to which Merck exercises the Merck Option, at the time of each respective exercise and thereupon Tularik's rights with respect to Option Compounds within such Option Program shall be governed by Section 3.3(a).

Option Payments. The amounts payable by Celgene, if any, in connection with the exercise of an Option for a given Program shall be as set forth in Section 6.3.

Option Payments. As of the Amendment No. 7 Effective Date, ▇▇▇▇▇▇ agrees to pay Owner, when due, the Lease Option Payments as set forth in Recital D, including reimbursement of any late fees charged by the Landowner under the Parcels No. 3 and 4 Land Purchase Option Agreement caused solely by any late payment by Tenant to Owner of the Lease Option Payments when due, and Owner agrees to accept these payments as payment-in-full for the Lease Option Payments and further agrees to make timely payments to the Landowner under the Parcels No. 3 and 4 Land Purchase Option Agreement following payments by Tenant.

Option Payments. (i) Within two (2) Business Days after the Opening of Escrow, Optionee shall deposit with Escrow Holder the First Option Payment in immediately available funds. If Optionee terminates, or is deemed to have terminated, this Agreement at any time prior to the Option Acceptance Date in accordance with the terms of Section 4(a)(ii) hereof, then the First Option Payment shall be refunded to Optionee without necessity of any instruction from Optionors. If Optionee rejects, or is deemed to have rejected, one or more Eligible Properties during the Feasibility Period in accordance with the terms of Section 4(a)(ii) hereof, then the Project First Option Payment (or Project First Option Payments) applicable to such Eligible Property (or Eligible Properties) shall be refunded to Optionee without necessity of any instruction from Optionors. (ii) On the Option Acceptance Date, Optionee shall deposit with Escrow Holder the Second Option Payment in immediately available funds. From and after the Option Acceptance Date, at such time as a Property Under Contract becomes a Converted Property, Optionee shall deposit with Escrow Holder the Project Second Option Payment for such Converted Property in immediately available funds, and such Project Second Option Payment shall thereafter be treated as part of the Second Option Payment. Upon receipt of the Second Option Payment (whether on the Option Acceptance Date or at such time as a Property Under Contract becomes a Converted Property), Escrow Holder shall promptly disburse to each Optionor the applicable Second Option Payment and the applicable First Option Payment (other than that portion of the First Option Payment that is refundable to Optionee in connection with Optionee’s rejection of an Eligible Property in accordance with the terms of this Agreement), and such disbursed amount shall be nonrefundable, except as provided below. (iii) At Closing, the Option Payments previously distributed to Optionors shall be credited against the Option Price. (iv) The Option Payments disbursed to an Optionor in accordance with the terms of this Agreement shall be immediately returned by such Optionor to Optionee (a) in the event of such Optionor’s default under this Agreement, or (b) upon termination of this Agreement in accordance with the terms of Section 12 hereof.

Option Payments. GEC shall pay the City option payments of One Hundred Thousand and 00/100 Dollars ($100,000.00) per year (each, an “Option Payment” and, collectively, “Option Payments”) including for each extension term with respect to which GEC and the Tribe has exercised its rights. The first Option Payment shall be made by GEC within three (3) business days after the Effective Date. Provided this Option Agreement has not been previously terminated in accordance with the terms and provisions herein, additional Option Payments of One Hundred Thousand and 00/100 Dollars ($100,000.00) each shall be made by GEC no later than the first (1st) anniversary of the Effective Date and each subsequent anniversary thereof, until exercise or expiration of the Option Term.

Option Payments. In lieu of exercising or retaining any rights the Executive may have to exercise some or all of the outstanding stock options that he then holds (including any rights to exercise stock options that arise during the Term if he were to remain employed and including any that would otherwise terminate as result of his termination of employment), the Executive may elect within sixty (60) days after termination of employment to surrender such rights to the Company and receive in exchange therefor a cash payment equal to the aggregate difference, if positive, between (a) the "fair market value" (determined as of the date of termination using the higher of the "fair market value" (i) as defined in the terms of the applicable option plan or option agreement as of the date of termination and (ii) as defined in the plan or agreement on the date of grant) of the shares of common stock subject to the options and (b) the option prices of the shares subject to such surrendered options; and the Company shall make such payment within forty-five (45) days after the Executive notifies the Company of his election to surrender all or a portion of his options.

Option Payments. As of the Amendment No. 7 Effective Date, ▇▇▇▇▇▇ agrees to pay Owner, when due, the Lease Option Payments as set forth in Recital E, including reimbursement of any late fees under Article 4 plus any late fees charged by the Landowner under the Parcel No. 6 Land Purchase Option Agreement caused solely by any late payment by Tenant to Owner of the Lease Option Payments when due, and Owner agrees to accept these payments as payment-in-full for the Lease Option Payments and further agrees to make timely payments to the Landowner under the Parcel No. 6 Land Purchase Option Agreement, if extended as discussed in Recital D, following such payments by Tenant for Parcel No. 6 as applicable.

Option Payments. (a) Concurrent with the execution of this Agreement by Owners, St. ▇▇▇▇ has made an option payment to Owners in the amount of $5,000, receipt of which is hereby acknowledged by Owners.

Option Payments. As of the date hereof, in consideration for --------------- the grant of the Option, Buyer shall pay, in the manner provided in Section 4.2, to Seller or to a Person designated in writing by Seller, an amount equal to Twenty Million Dollars ($20,000,000) (the "Initial Option Payment"). Provided that the Closing has not occurred, on or before each of the dates which are the first and second anniversaries of the date hereof, Buyer shall pay, in the manner provided in Section 4.2, to Seller or to a Person designated in writing by Seller, an amount equal to Five Million Dollars ($5,000,000) (each a "Future Option Payment," and together with the Initial Option Payment, the "Option Payments"). Anything contained in this Agreement to the contrary notwithstanding, unless this Agreement is terminated by Buyer pursuant to Section 12.1(c) or by Buyer or Seller pursuant to Section 12.1(d), the Option Payments and the Creditable Interest (as defined below) shall not be refundable and Seller shall be entitled to retain the Option Payments and the Creditable Interest regardless of whether the Closing shall occur or this Agreement or the TBA shall be terminated. Seller shall deposit the Option Payments in an interest bearing account. If this Agreement is terminated by Buyer pursuant to Section 12.1(c) or by Buyer or Seller pursuant to Section 12.1(d), the Option Payments and the Creditable Interest shall be refunded to Buyer within two (2) Business Days of any such termination. For purposes of this Agreement, "Creditable Interest" shall be an amount equal to (a) 50% of any actual interest earned by Seller or Seller's designee on the Option Payments made by Buyer to Seller pursuant to this Agreement during the period beginning on the date the Initial Option Payment is paid and ending on the date which is the one year anniversary of such date, and (b) 100% of any actual interest earned by Seller or Seller's designee on the Option Payments made by Buyer pursuant to this Agreement to Seller during the period beginning on the date which is the day after the one year anniversary of the date the Initial Option Payment is paid and ending on the date which is the earlier to occur of the Closing Date or the date which is the day preceding the date on which the Creditable Interest shall be refunded to Buyer.