Term of Exercise Sample Clauses

Term of Exercise. This Agreement shall remain in full force and effect until it expires on December 31, 2015, unless extended (the “Option Period”). VGS, in its discretion, may extend the expiration of the Option Period to December 31, 2017, by providing written notice of such extension to the Grantor on or before December 31, 2015, accompanied by a second Option Payment in the amount described in Section 3 above. VGS may terminate this Agreement at any time and for any reason during the Option Period, provided such termination shall not entitle VGS to a refund of the Option Payment. This Agreement shall automatically terminate at closing (as described in Section 9, below) upon receipt by VGS of the fully executed and acknowledged warranty deed and related documents from Grantor, in form satisfactory to VGS.

Term of Exercise. The Option shall terminate on November 15, 2006. Subject to the previous sentence, the Option may be exercised after November 15, 2005; provided, however, that this Option may be exercised earlier according to the following schedule: 25,000 shares: if the Company's Market Cap equals or exceeds $300 million at any time on or prior to November 15, 2000 25,000 additional shares: if the Company's Market Cap equals or exceeds $400 million at any time on or prior to November 15, 2000 25,000 additional shares: if the Company's Market Cap equals or exceeds $500 million at any time on or prior to November 15, 2000

Term of Exercise. The Shares eligible for purchase pursuant to Section 2(a) hereof may thereafter be purchased, subject to the provisions hereof, at any time and from time to time until the close of business on the date on which the Option terminates.

Term of Exercise. Subject to the terms of this Agreement, each Warrant holder shall have the right, which may be exercised from 9:00 a.m., New York City time, on or after [the date one year and one day from the date hereof], 2004 and until 5:00 p.m., New York City time, on [the date four years and one day from the date hereof], 2007 ("EXPIRATION DATE"), to receive from the Company the number of fully paid and nonassessable Warrant Shares which the holder may at the time be entitled to receive on exercise of such Warrants and payment of the Exercise Price then in effect for such Warrant Shares. Each Warrant not exercised prior to the Expiration Date shall become void and all rights thereunder and all rights in respect thereof under this Agreement shall cease as of such time.

Term of Exercise. Each Warrant Certificate shall entitle the holder thereof to purchase up to such number of Warrant Shares as are specified in the Warrant Certificate at the Exercise Price, in whole or in part, at any time or from time to time, on any Business Day during the Exercise Period.

Term of Exercise. This Option may be exercised after the effective date hereof, in the following installments:

Term of Exercise. (a) This Option may be exercised during the Exercise Period as to the whole or any lesser number of Shares and Underwriters' Warrants, by the surrender of an Underwriters' Option Certificate for this Option (with the election at the end thereof duly executed) to the Company at its offices at 5025 ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇, Suite 120, Atlanta, Georgia 30349 or such other place as is designated in writing by the Company, together with a certified or bank cashier's check payable to the order of the Company in an amount equal to the Exercise Price (per Share and per Warrant, respectively) multiplied by the number of Shares and Underwriters' Warrants for which this Option is being exercised. (b) For purposes of this Option, the term "Current Market Price" at any date shall be deemed to be: (i) the average of the daily closing prices of the Common Stock or the Public Warrants, as the case may be, for the 20 consecutive trading days immediately preceding such date in reported sales price, or (ii) in case no such reported sale takes place on such date, the last sales price regular way in either case as reported on the principal national securities exchange on which the Common Stock or the Public Warrants, as the case may be, is listed or admitted to trading, or (iii) if the Common Stock or the Public Warrants, as the case may be, is not listed or admitted to trading on any national securities exchange, the average of the closing bid and asked prices regular way for the Common Stock or the Public Warrants, as the case may be, on the Nasdaq National Market System or Nasdaq SmallCap Market of the Nasdaq Stock Market, Inc. (together referred to as "Nasdaq") or (iv) if the Common Stock or the Public Warrants, as the case may be, is not listed or admitted for trading on any national securities exchange and is not reported on NASDAQ or any similar organization, the average of the closing bid and asked prices in the over-the-counter market as furnished by the National Quotation Bureau, Inc. or if no such quotation is available, the fair market value as determined by the Board of Directors in good faith.