Virginia Option Agreement to Purchase Producing Oil and Gas Properties
Description
How to fill out Option Agreement To Purchase Producing Oil And Gas Properties?
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FAQ
To exercise an option, you simply advise your broker that you wish to exercise the option in your contract. Your broker will initiate an exercise notice, which informs the seller or writer of the contract that you are exercising the option.
An option agreement sets out a definitive timescale - and can also provide for an up-front payment as an incentive to the owner to create the opportunity. Your community body requires time to put together a funding package for a property acquisition and/or its subsequent development .
The contract must be in writing. The contract must specify the location, such as the lot and block, subdivision, city, and state. The agreed-upon time frame of the contract must grant the buyer's right to purchase. The buyer and the seller must agree upon the purchase price.
Option Notice Date means the first date on which all holders of Company Options have received Option Notices in ance with Section 2.7(a).
What is an "option to purchase" agreement? An option to purchase is an agreement that gives a potential buyer (?optionee?) the right, but not the obligation, to buy property in the future. The optionee must decide by a certain time whether to ?exercise? the option and thereafter by bound under the contract to purchase.
Option Notice means a notice from the Lessee to the Lessor exercising the option to purchase the Option Premises; Sample 1Sample 2Sample 3. Based on 24 documents.
In order to exercise the Put Option, the Investor shall provide written notice to the Company of such election (the ?Put Option Notice?). The Put Option Notice shall include the number of Shares that the Investor is electing to have the Company repurchase under the Put Option.
If the SPE Shareholders elect to exercise the Call Option, they shall do so by delivering a written notice (an ?Option Notice?) to the Non-SPE Shareholders by no later than the last day of the Call Option Period.
