With both hostile and amicable buyout options looking unpleasant, Microsoft was left little choice but to back out.

McDaniel exercised a $500,000 buyout option in his contract and will be an unrestricted free agent after the season.

The loan was for the entire 2010-11 season and had a buyout option for €4 million.

If no bidder chooses to utilize the buyout option before the end of bidding the highest bidder wins and pays their bid.

In a permanent-buyout auction the buyout option remains available throughout the entire auction until the close of bidding.

On February 15, 2008 he exercised a buyout option in his contract and became a free agent.

If McDaniel decides not to exercise the buyout option, he will remain under contract with the Knicks through the 1993-94 season.

Mr. Hall leased a Think car and loved "being involved in the experiment," he said, adding that he wishes there were a buyout option.

He said Doug Messier, when negotiating the deal, told the Rangers they could have the buyout option "in case the wheels fall off."

Instead it would shamelessly break the state's commitment to a buyout option that was inserted in the law specifically to induce private participation.