Terms and Conditions of the Option Sample Clauses

Terms and Conditions of the Option. BPPI shall have the right to exercise the Option by providing “Notice” (as herein defined) to AAPOP on or after 9:00 a.m. (Eastern time) on (A) July 15, 1998 (but prior to August 31, 1998), or (B) only in the event the Second Put/Option Period occurs based on the revival of the Put/Option Period as set forth above, October 15, 1998 (but prior to November 15, 1998). Upon exercise of the Option, BPPI shall be obligated to purchase AAPOP’s partnership interests in the Partnership (1) for a purchase price, to be paid in immediately available funds, equal to $800,000, plus the “Net Additional Equity Value” (as herein defined), (ii) at a closing (the “Closing”) to be held at BPPI’s offices on or prior ten (10) business days from the date of the Notice (but in no event sooner than August 1, 1998), and (iii) subject only to the additional terms and conditions set forth in the form of Assignment of Partnership Interests attached hereto as Exhibit “B”, to be delivered by AAPOP and BPPI at Closing. As used herein, “Net Additional Equity Value” shall mean the sum derived in accordance with the following formula more particularly set forth on Exhibit “C” attached hereto.

Terms and Conditions of the Option. The Option will be subject to the terms and conditions of this Plan and the following:

Terms and Conditions of the Option. The purchase price (the "Option Price") to be paid by the Optionee to the Company upon the exercise of the Option shall be $______ per share, subject to adjustment as provided in Section 5.3 of the Plan. The Option may be exercised on or after ____________ with respect to 100% of the Common Shares subject to the Option. The Option shall in no event be exercisable after the expiration of ten years from the Grant Date (the "Expiration Date"). Subject to the other provisions of this Agreement and to the provisions of the Plan, if the Option becomes exercisable as to certain Common Shares, it shall remain exercisable as to those Common Shares until the Expiration Date. The Option is subject to all the terms of the Plan.

Terms and Conditions of the Option