Conditions for exercise Sample Clauses
The 'Conditions for exercise' clause defines the specific requirements or circumstances that must be met before a party can exercise a particular right, such as an option or contractual privilege. Typically, this clause outlines prerequisites like notice periods, payment of fees, or fulfillment of certain obligations before the right becomes exercisable. By clearly stating these conditions, the clause ensures that both parties understand when and how rights can be activated, thereby preventing disputes and providing a structured process for exercising contractual options.
Conditions for exercise. This paragraph may contain whatever conditions you decide to impose. They may relate ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ . ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ . ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ . ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■
Conditions for exercise. 6.1. The Option may be exercised ■ ■ ■ ■ [ ■ ■ ■ ■ ■ ■ ■ ■ ] ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ .
Conditions for exercise. 6.1. The [terms / targets / criteria / ■ ■ ■ ■ ] ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ [ ■ ■ ■ ■ ■ ■ ■ ■ ] ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 2 .
6.2. The Option must be ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ .
Conditions for exercise. 5.1 When the Stock Option Holder wishes to exercise the allotted Employee Stock Options for subscription of shares, the Employee Stock Options shall be exercised as set out below.
5.2 Subscription according to section 4.2a) above is conditional on the approval of the board of directors.
5.3 The Stock Option Holder’s right to exercise the Employee Stock Options for subscription of shares is, unless the board of directors resolves otherwise, conditional on, firstly, that the conditions in this agreement are met (meaning amongst other things that the Employee Stock Options have been vested and allotted) and, secondly, that the Stock Option Holder’s employment in the Company has not been terminated or that notice of such termination has not been given prior to the exercise of the Employee Stock Options.
5.4 Exercise of the Employee Stock Options can be made during the period commencing on the day that occurs three (3) years from the date of this Agreement up to and including 30 September 2023 (the “Exercise Period”).
5.5 The Employee Stock Options shall also be eligible for earlier exercise at the following occasions:
a) when an offer for the purchase of the Company’s shares has been accepted to such extent that the offeror will become owner of more than ninety (90) percent of the outstanding shares in the Company; or
b) when a resolution is made by the general meeting of shareholders in the Company or by the Company’s board of directors, allowing exercise at another point of time.
5.6 Exercise of the Employee Stock Options is made by submitting the notice in Appendix 1 to the Company. In order to be valid, the notice, filled out correctly and duly signed by the Stock Option Holder, shall have been received by the Company in original copy during the Exercise Period.
5.7 If the Employee Stock Options are exercised, the Company shall ensure that the Stock Option Holder receives the number of shares in the Company that corresponds to the number of exercised Employee Stock Options. The Company will provide the Stock Option Holder with details regarding the bank account to which the Subscription Price shall be paid. Payment of the Subscription Price shall be made within five (5) business days of the date when the Stock Option Holder sent a correctly filled out notice to the Company.
5.8 The Company may co-operate with a bank regarding exercise of the Employee Stock Options and the sale of the shares that the Employee Stock Options entitle to. If the Stock Option Ho...
Conditions for exercise of (1) Each Stock Acquisition Right may not be Stock Acquisition Rights exercised in part.
Conditions for exercise. Tenant shall have the option (the “Termination Option”) to terminate this Lease effective on November 1, 2016 (the “Termination Effective Date”), provided, however, the exercise and effectiveness of such right is expressly subject to the following terms and conditions:
(a) Landlord fails to deliver to Tenant a written proposal (the” Expansion Proposal”) for the leasing of space in the Building comprising at least 3,000 square feet of rentable area within either the Courtside Building or the Riverside Building (provided that any such Riverside Building space have an entry no more than twenty (20) feet from the bridge located on the Property) (such space, as applicable, the “Expansion Premises”) prior to on or before November I, 2015 (the “Expansion Proposal Deadline”);
(b) Following Landlord’s failure to timely deliver the Expansion Proposal, Tenant delivers written notice (the “Lease Termination Notice”) to Landlord within thirty (30) days after the Expansion Proposal Deadline (i.e., on or before November 30, 2015) (such period, the “Termination Notice Period”) which written notice must expressly state Tenant’s intention to terminate this Lease as of the Termination Effective Date due to Landlord’s failure to deliver an Expansion Proposal prior to the Expansion Proposal Deadline;
(c) Tenant shall, on or before April 1, 2016 (the “New Lease Notice Date”), deliver written notice to Landlord (the “New Lease Notice”) containing reasonably detailed evidence that Tenant has entered into a lease at another location by which Tenant shall lease a minimum of 20,744 rentable square feet of rentable area within the Fairfield County market;
(d) No Event of Default shall have occurred and be continuing at the time that Tenant provides the Lease Termination Notice or at the Termination Effective Date; and
(e) Tenant shall deliver to Landlord the “Termination Payment” (as defined in Section 18.2, below) in full, in the manner prescribed for the payment of rent in Section 4.1.2 hereof, concurrently with the New Lease Notice. Notwithstanding anything to the contrary contained in this Section 18.1, in the event that Tenant fails to fulfill any of the requirements stated in subsections (a) through (e), above, then Tenant’s exercise of the Termination Option shall, at Landlord’s option, be ineffective and Landlord shall have the right to reject Tenant’s exercise of the Termination Option by providing written notice to such effect to Tenant on or before April 16, 2016, with res...
Conditions for exercise. The Termination Option is granted on and subject to the following terms and conditions;
(a) No earlier than the first day of the 83rd full calendar month of the Term, but not later than the last day of the 83rd full calendar month of the Term, Tenant must give Landlord written notice of Tenant’s election to exercise the Termination Option (the “Termination Option Notice”);
(b) No Default exists either on the date that Tenant exercises the Termination Option or at any time thereafter up to and including the Early Termination Date; and
(c) Tenant pays to Landlord, on or before the date that is 30 days after Tenant delivers the Termination Option Notice, a fee equal to the unamortized transaction costs incurred by Landlord in connection with this Lease, including, without limitation, tenant improvement costs; free Base Rent and Operating Expenses; and leasing commissions, all amortized with interest at 6% per annum over the initial Term of this Lease (the “Termination Fee”). The Termination Fee will be calculated by Landlord (subject to verification by Tenant) and set forth on the Occupancy Estoppel Certificate, the form of which is attached hereto as Exhibit C, which Tenant is obligated to execute pursuant to Section 16 of this Lease.
Conditions for exercise. Exercise of the options to acquire Santander ADS assigned to the Executive will be subject to the following conditions relating to the price and earnings of the Santander share.
A. The revaluation of a Santander share – using the weighted average price of the first 15 sessions of the Madrid Stock Exchange for 2005 as the initial price, and the weighted average of the 15 first sessions of that market for 2007 as the final price – must be greater than the corresponding revaluations of at least 20 of the 29 shares of the international financial entities listed in the paragraph [sic] of this Agreement, weighted under the same conditions. In order to calculate the aforementioned revaluation, the gross amount of dividends and other distributions produced by each share will be deemed to have been reinvested at the closing market price on the date on which they are paid. Accordingly, the following formula will be used for the calculation of the revaluation: REV = (PF – PI) x NAR In which: REV = Revaluation PF = weighted average price for the first 15 sessions in the principal trading market of each entity for 2007 PI = weighted average price for the first 15 sessions in the principal trading market of each entity for 2005 NAR = 1 + D1 / P1 + D2 / P2 + D▇ / ▇▇ +……………….+ ▇▇ / ▇▇ Where:
Conditions for exercise. (i) The exercise of the Stock Acquisition Rights will be subject to the non-occurrence of the reasons for acquisition set forth in each item of Paragraph 7 with respect to the Stock Acquisition Rights to be exercised or the Right Holders, and the exercise of the Stock Acquisition Rights for which a reason for acquisition has occurred will not be permitted except where such exercise is specifically permitted by the Company.
(ii) The Right Holders shall not exercise the Stock Acquisition Rights until the Company’s stock is listed on any financial instruments exchange except where such exercise is specifically permitted by the Company.
(iii) The Stock Acquisition Rights must be exercised in increments of one Stock Acquisition Right, and the partial exercise of a Stock Acquisition Right will not be permitted.
Conditions for exercise. 6.1 When the Stock Option Holder wishes to exercise the allotted Employee Stock Options for subscription of shares, the Employee Stock Options shall be exercised as set out below.