Option Procedures Clause Samples

Option Procedures. (a) Within 10 days after notifying Transmission Provider and the Interconnected Transmission Owner of its election to exercise the Option to Build, Interconnection Customer shall solicit bids from one or more Approved Contractors named on the Interconnected Transmission Owner’s List of Approved Contractors to procure equipment for, and/or to design, construct and/or install, the Transmission Owner Interconnection Facilities that the Interconnection Customer seeks to build under the Option to Build on terms (i) that will meet the Interconnection Customer’s proposed schedule; (ii) that, if the Interconnection Customer seeks to have an Approved Contractor construct or install Transmission Owner Attachment Facilities and Direct Connection Network Upgrades, will satisfy all of the conditions on construction specified in Sections 3.2.3.2 and 3.2.3.3 of this Appendix 2; and (iii) that will satisfy the obligations of a Constructing Entity (other than those relating to responsibility for the costs of facilities) under this Appendix 2. (b) Any additional costs arising from the bidding process or from the final bid of the successful Approved Contractor shall be the sole responsibility of the Interconnection Customer. (c) Upon receipt of a qualifying bid acceptable to it, the Interconnection Customer shall contract with the Approved Contractor that submitted the qualifying bid. Such contract shall meet the standards stated in paragraph (a) of this section. (d) In the absence of a qualifying bid acceptable to the Interconnection Customer in response to its solicitation, the Interconnected Transmission Owner(s) shall be responsible for the design, procurement, construction and installation of the Transmission Owner Interconnection Facilities in accordance with the Standard Option described in Section 3.2.1 of this Appendix 2.
View SourceView Similar (86)
Option Procedures. If ACX either fails timely to lease Suite 304 or irrevocably waives its right lease Suite 304, then Lessor shall give to Lessee a written offer ("Offer") to lease Suite 304. Said Offer shall be upon the terms set forth in Subparagraph B(4) of this Paragraph 8 and shall be subject to the rights of CLAM to lease Suite 304 on the terms set forth in the Offer. Lessee shall have fourteen (14) business days following receipt of the Offer to give written notice ("Acceptance Notice") to Lessor accepting the Offer. If Lessee does not timely give the Acceptance Notice, Lessee shall have no further right to lease Suite 304 pursuant to this Subparagraph B, time being of the essence of this Subparagraph B. If Lessee timely gives the Acceptance Notice, then, subject to the provisions of this Subparagraph B, Lessor shall demise and lease to Lessee, and Lessee shall hire and take from Lessor Suite 304 on the terms set forth in the Offer. Notwithstanding anything to the contrary herein contained: (a) If ACX exercises its right to lease Suite 304, then Lessor shall have no obligation to give an Offer to lease Suite 304 to Lessee and Lessee shall have no further right to lease Suite 304; and (b) Lessee acknowledges that CLAM will have the right to lease Suite 304 based upon the Offer if it is accepted by Lessee. Therefore, if CLAM exercises its right to lease Suite 304, Lessee shall have no further right to lease Suite 304.
View SourceView Similar (2)
Option Procedures. (a) If Lessee elects the Purchase Option, Lessee shall provide to Lessor a certificate signed by a Senior Officer of Lessee stating whether Sublessee has properly exercised the Purchase Option (as such term is defined in the Sublease) under Section 5.3(a) of the Sublease (and, if it has been exercised, attaching a copy of such Sublessee notice of exercise) and Lessor shall execute and deliver to Lessee (if Lessee pays the Purchase Option Exercise Amount to Lessor) or Sublessee (if Sublessee has exercised its Purchase Option in the Sublease and Sublessee pays the Purchase Option Exercise Amount to Lessor) such documents as may be reasonably required to release the Equipment from the terms and scope of this Lease and to transfer the right, title and interest of Lessor in the Equipment to Lessee or Sublessee (as the case may be), without representations or warranties except that the Equipment is free and clear of Lessor Liens, in such form as may be reasonably requested by Lessee or Sublessee (as the case may be), all at Lessee's or Sublessee's (as the case may be) sole cost and expense. Lessee hereby directs, and Lessor hereby agrees to, accept the Purchase Option Exercise Amount from Sublessee and upon receipt thereof to transfer the right, title and interest of Lessor in the Equipment to Sublessee if Sublessee has exercised its Purchase Option under the Sublease. If the Purchase Option is elected and the payment of the Purchase Option Exercise Amount is at any time thereafter rescinded or must otherwise be restored or returned upon the occurrence of an event of the type specified in SECTIONS 10.1(f) or 10.1(g), the obligations of the Lessee hereunder to pay the Purchase Option Exercise Amount shall be reinstated as though such payment had been due but not paid as of such time. (b) If Lessee elects the Sale Option, Lessee shall use its best commercial efforts to obtain the highest all cash purchase price for the Equipment. All costs related to such sale and delivery, including, without (i) Lessee shall transfer all of Lessee's right, title and interest in the Equipment, or cause the Equipment to be so transferred, to such purchaser or purchasers, if any, in accordance with all of the terms of this Lease; (ii) subject to the simultaneous payment by Lessee of all amounts due under CLAUSE (iii) of this sentence, Lessor shall, without recourse or warranty, except as to the absence of Lessor Liens, transfer by quitclaim Lessor's right, title and interest in and ...
View Source
Option Procedures. If Sublessee elects the Purchase Option, Sublessor shall execute and deliver to Sublessee such documents as may be reasonably required to release the Equipment from the terms and scope of this Sublease and to transfer the right, title and interest of Sublessor in the Equipment to Sublessee without representations or warranties except that the Equipment is free and clear of the Lease, in such form as may be reasonably requested by Sublessee all at Sublessee's sole cost and expense.
View Source
Option Procedures. The Lead Compound Option shall be exercisable solely by the Securityholder Agent on behalf of all of the Former Company Stockholders. Parent will (i) deliver written notice (the "Parent Notice") to the Securityholder Agent promptly after it has determined that neither of the conditions described in Section 1.6(b)(ii)(A) has been satisfied and (ii) permit the Securityholder Agent and up to two (2) consultants designated by the Securityholder Agent to review the Lead Compound Information and the Lead Compound Documents, provided that the Securityholder Agent and the consultants execute a confidentiality agreement in a form reasonably acceptable to Parent prior to initiating such review. To exercise the Lead Compound Option, the Securityholder Agent must deliver to Parent written notice (the "Agent Notice") of his or her election on behalf of all of the Former Company Stockholders to exercise the Lead Compound Option within thirty (30) calendar days after the date of the Parent Notice. Parent shall, promptly after receipt of the Agent Notice, use its reasonable efforts to obtain the consent of the party from whom the rights to the Lead Compound have been licensed (the "Licensing Party") to the transfer of all of Parent's and the Company's rights in the Lead Compound Rights to the Securityholder Agent or his or her designee, free and clear of all liens and security interests created by Parent or, after the Effective Time, the Company. Parent shall not, however, be required to pay any consideration to the Licensing Party or to utilize any extraordinary efforts to obtain the Licensing Party's consent to the transfer. In the event that within sixty (60) days of the date of the Agent Notice (A) the Licensing Party for any reason will not consent to the transfer or (B) the Securityholder Agent has not delivered to Parent a power of attorney in the form approved by Parent executed by each Former Company Stockholder, which power of attorney shall be in full force and effect and shall appoint the Securityholder Agent as the attorney-in-fact for such Former Company Stockholder to take all actions on behalf of such Former Company Stockholder that the Securityholder Agent deems necessary or desirable in connection with the Merger, and shall release Parent from all claims related to actions taken in reliance on certificates or instructions of the Securityholder Agent, the Lead Compound Option shall terminate and Parent shall be under no obligation (X) to continue to attem...
View Source
Option Procedures. (a) Within 10 days after notifying Transmission Provider and the Transmission Owner of its election to exercise the Option to Build, New Service Customer shall solicit bids from one or more Approved Contractors named on the Transmission Owner’s List of Approved Contractors to procure equipment for, and/or to design, construct and/or install, the Direct Assignment Facilities or Customer-Funded Upgrades that the New Service Customer seeks to build under the Option to Build on terms (i) that will meet the New Service Customer’s proposed schedule; (ii) that, if the New Service Customer seeks to have an Approved Contractor construct or install Direct Assignment Facilities or Customer-Funded Upgrades, will satisfy all of the conditions on construction specified in Sections 6.2..2 and 6.2.3 of this Appendix III; and (iii) that will satisfy the obligations of a Constructing Entity (other than those relating to responsibility for the costs of facilities) under this Upgrade CSA. (b) Any additional costs arising from the bidding process or from the final bid of the successful Approved Contractor shall be the sole responsibility of the New Service Customer. (c) Upon receipt of a qualifying bid acceptable to it, the New Service Customer shall contract with the Approved Contractor that submitted the qualifying bid. Such contract shall meet the standards stated in paragraph (a) of this section. (d) In the absence of a qualifying bid acceptable to the New Service Customer in response to its solicitation, the Transmission Owner(s) shall be responsible for the design, procurement, construction and installation of the Direct Assignment Facilities or Customer-Funded Upgrades in accordance with the Standard Option described in Section 6.2.1 of this Appendix III.
View Source
Option Procedures. Section 3.6
View Source
Option Procedures. (a) Within 10 days after notifying Transmission Provider and the Transmission Owner of its election to exercise the Option to Build, Developer Party shall solicit bids from one or more Approved Contractors named on the Transmission Owner’s List of Approved Contractors to procure equipment for, and/or to design, construct and/or install, the Network Upgrades that the Developer Party seeks to build under the Option to Build on terms (i) that will meet the Developer Party’s proposed schedule; (ii) that, if the Developer Party seeks to have an Approved Contractor construct or install Stand Alone Network Upgrades, will satisfy all of the conditions on construction specified in Sections 6.2..2 and 6.2.3 of this Appendix III; and (iii) that will satisfy the obligations of a Constructing Entity (other than those relating to responsibility for the costs of facilities) under this CSA. (b) Any additional costs arising from the bidding process or from the final bid of the successful Approved Contractor shall be the sole responsibility of the Developer Party. (c) Upon receipt of a qualifying bid acceptable to it, the Developer Party shall contract with the Approved Contractor that submitted the qualifying bid. Such contract shall meet the standards stated in paragraph (a) of this section. (d) In the absence of a qualifying bid acceptable to the Developer Party in response to its solicitation, the Transmission Owner(s) shall be responsible for the design, procurement, construction and installation of the Network Upgrades in accordance with the Standard Option described in Section 6.2.1 of this Appendix III.
View Source
Option Procedures 
View Source

Related to Option Procedures

  • Selection Procedures In selecting the Loan Assets to be Pledged pursuant to this Agreement, no selection procedures were employed which are intended to be adverse to the interests of the Lenders.

  • Election Procedures (a) Each record holder of Shares (other than Dissenting Shares, if any, Shares owned by Textron and shares to be cancelled in accordance with Section 3.1(b)) issued and outstanding immediately prior to the Effective Time shall be entitled to submit a request specifying the portion of such record holder's Shares which such record holder desires to have converted into (i) the Cash Consideration (a "Cash Election"), (ii) the Stock Consideration (a "Stock Election") or (iii) the Mixed Consideration (a "Mixed Election"), or to indicate that such record holder has no preference as to the receipt of Cash Consideration, Stock Consideration or Mixed Consideration for such Shares (a "Non-Election"). Shares in respect of which a Non-Election is made (including Shares in respect of which such an election is deemed to have been made pursuant to this Section 3.2(a) and Section 3.1(g)) (collectively, "Non-Election Shares") shall be deemed to be Shares in respect of which a Cash Election has been made. (b) Elections pursuant to Section 3.2(a) shall be made on the form of letter of transmittal and form of election (the "Letter of Transmittal and Form of Election") to be provided by the Paying Agent (as defined in Section 3.3(a)) to holders of record of Shares, together with instructions for use in effecting the surrender of the Certificates for payment therefor, as soon as practicable following the Effective Time. The Letter of Transmittal and Form of Election shall specify that delivery shall be effected, and risk of loss and title to the Certificates transmitted therewith shall pass, only upon proper delivery of the Certificates to the Paying Agent. Elections shall be made by mailing to the Paying Agent a duly completed Letter of Transmittal and Form of Election in accordance with Section 3.3(b). To be effective, a Letter of Transmittal and Form of Election must be (i) properly completed, signed and submitted to the Paying Agent at its designated office and (ii) accompanied by the Certificates representing the Shares as to which the election is being made (or by an appropriate guarantee of delivery of such Certificates by a commercial bank or trust company in the United States or a member of a registered national security exchange or of the National Association of Securities Dealers, Inc., provided such Certificates are in fact delivered to the Paying Agent within eight Trading Days after the date of execution of such guarantee of delivery). The Company shall determine, in its sole and absolute discretion, which authority it may delegate in whole or in part to the Paying Agent, whether any Letter of Transmittal and Form of Election has been properly completed, signed and submitted or revoked. The decision of the Company (or the Paying Agent, as the case may be) in such matters shall be conclusive and binding. Neither the Company nor the Paying Agent will be under any obligation to notify any person of any defect in a Letter of Transmittal and Form of Election submitted to the Paying Agent.

  • Evaluation Procedures The following procedures for employee evaluation shall be utilized for the term of this Agreement: 1. Orientation materials related to evaluation procedures will be provided to all employees by the 10th school day. 2. Employees shall submit to their evaluator a complete listing of proposed objectives, and measurement activities related thereto, to be considered in the annual evaluation by the 25th school day. 3. The evaluator shall have completed by 30th school day annual objective setting conference with employee. 4. The evaluator shall by the 40th school day determine and shall provide the employee with a complete listing of actual objectives from those proposed by the evaluator and employee, and measurement activities from those proposed by the evaluator and employee, and measurement activities related thereto, that will be incorporated in the annual evaluation that the evaluator will prepare for the employee. The objectives and related measurement activities referred to herein shall be in accordance with the employee job description prescribed by the District. The District will make every attempt to have the number of objectives required to be uniform from site to site. 5. Within a reasonable time after the request, the evaluator shall be provided with a written progress report from the employee containing the latter's perception of the progress being made toward the achievement of the objectives prescribed in Item 3, above. During the course of the evaluation period, circumstances may change which may result in the modification of the original standards and objectives. These changes may be initiated by the supervisor or the employee. Agreement of both parties is required. 6. The evaluator, by the 145th school day, shall have conducted classroom observations in order to gather data on employee performance as the evaluator believes to be related to: A. The actual objectives and measurement activities described in Item 3, above; B. Other criteria for employee evaluation and appraisal that are established by the District ▇▇▇▇▇ Act Guidelines. At the discretion of the evaluator, tenured teachers may receive only one (1) formal instructional observation per year. Probationary teachers will receive two (2) formal instructional observations per year. Prior to conducting formal instructional observations regarding the teacher's duties related to the instructional objectives herein described, the teacher shall be notified of the observation prior to the beginning of the teacher's actual instructional day. Upon the request of the evaluatee or when, in the evaluator's judgment, additional instructional classroom observations are necessary, such observations may be conducted. Within a reasonable time, an employee shall be provided with a written statement regarding instructional observations that have been conducted. Such written statements shall contain a summary of the instructional activities observed, and any suggestions being made by the observer for possible improvement by the employee to include, but not be limited to, the following: 1) Specific directives for improvement 2) Assistance to implement such directives as (a) Provisions of additional resources; (b) Mandatory training programs designed to improve performance to be paid by the District. A final and written report of the achievement of objectives, and measurement information related thereto shall be submitted by the employee to the evaluator by the 140th school day. 7. The evaluator shall prepare a written District evaluation form of employee performance and transmit the evaluation to the employee. The employee may submit a written reaction or response to the evaluation and such response shall be attached to the evaluation and placed in the employee's permanent personnel file which shall be maintained in the District Office. Permanent employees shall be evaluated at least once every other year, and in no event later than 30 days before the last school day scheduled on the school calendar of the current school year. Probationary employees shall be evaluated at least once each year and in no event later than the 150th school day. 8. Employees who meet each of the following conditions shall be evaluated up to every five

  • Termination Procedures The Contractor acknowledges that this Agreement may be terminated for Convenience or Default.

  • Notification Procedures To address non-compliance, the receiving Competent Authority would notify the providing Competent Authority pursuant to Article 5 of the IGA. The notification procedures would differ depending upon whether the receiving Competent Authority seeks to address administrative or other minor errors or significant non-compliance.