Exercise and Payment of Option Sample Clauses

The "Exercise and Payment of Option" clause defines the process by which a party may formally exercise an option granted under an agreement, as well as the requirements for making the associated payment. Typically, this clause outlines the steps the option holder must follow, such as providing written notice within a specified timeframe and paying the agreed-upon price or consideration. Its core practical function is to ensure both parties understand the exact procedure and timing for exercising the option, thereby reducing the risk of disputes and ensuring a smooth transaction.
Exercise and Payment of Option. To the extent exercisable, the Option may be exercised in whole or in part from time to time and will be settled in Common Shares by the Grantee giving notice to the Company specifying the number of Common Shares for which the Option is to be exercised and paying the aggregate Option Exercise Price for such Common Shares. The Option Exercise Price shall be payable (a) in cash or by check acceptable to the Company or by wire transfer of immediately available funds, (b) by the actual or constructive transfer to the Company by the Grantee of nonforfeitable, unrestricted Common Shares of the Company owned by the Grantee and having an aggregate fair market value at the time of exercise of the Option equal to the total Option Price of the Common Shares which are the subject of such exercise, (c) by a net exercise method as described in the Plan, (d) by a combination of such methods of payment, or (e) by such other methods as may be approved by the Committee.
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Exercise and Payment of Option. To the extent exercisable, the Option may be exercised in whole or in part from time to time and will be settled in shares of Common Stock by the Optionee giving notice to the Company specifying the number of shares of Common Stock for which the Option is to be exercised and paying the aggregate Option Exercise Price for such shares of Common Stock. The Option Exercise Price shall be payable (a) in cash or by check acceptable to the Company or by wire transfer of immediately available funds, (b) by the actual or constructive transfer to the Company by the Optionee of nonforfeitable, unrestricted shares of Common Stock of the Company owned by the Optionee and having an aggregate fair market value at the time of exercise of the Option equal to the total Option Price of the shares of Common Stock which are the subject of such exercise, (c) by a net exercise method as described in the Plan, (d) by a combination of such methods of payment, or (e) by such other methods as may be approved by the Committee.
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Exercise and Payment of Option. The Option is exercisable as follows:
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Exercise and Payment of Option. Subject to the limitations and other terms and conditions set forth in this Agreement and the Plan, the Stock Option, to the extent then exercisable, may be exercised from time-to-time by delivering written notice to RSI addressed to the Controller of RSI specifying the number of Shares the Grantee then elects to purchase under the Stock Option, together with the full purchase price of the Shares being purchased in cash or a certified or bank cashier's cheque payable to the order of RSI. Within 30 days after any such exercise, RSI will deliver to the Grantee certificates for the number of Shares with respect to which the Stock Option has been exercised, issued in the name of the Grantee.
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Exercise and Payment of Option. (a) To the extent exercisable, the Option may be exercised in whole or in part from time to time. The Option Price shall be payable (i) in cash or by check acceptable to the Company or by wire transfer of immediately available funds, (ii) in Common Shares (excluding shares of Restricted Stock) owned by the Optionee for at least 6 months (which Common Shares shall be valued for such purpose based on the Market Value per Share on the date of exercise), or (iii) by a combination of such methods of payment; provided, however, that the payment method in Common Shares will not be available at any time that the Company is prohibited from purchasing or otherwise acquiring Common Shares. (b) To the extent permitted by law, the payment of the Option Price may be deferred and payable by the Optionee from the proceeds of a sale through a bank or broker on a date satisfactory to the Company of some or all of the Common Shares to which such exercise relates.
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Exercise and Payment of Option. To the extent exercisable, and subject to Section 4.5 of the Plan, the Option may be exercised in whole or in part from time to time and will be settled in Common Shares issued from treasury by the Grantee delivering to the Corporation a fully completed Exercise Notice specifying the number of Common Shares in respect of which the Option is being exercised and paying the aggregate Exercise Price for such Common Shares. The Exercise Price shall be payable (a) with a bank draft or certified cheque in an amount equal to the aggregate Exercise Price of the Common Shares to be purchased, (b) by a broker-assisted “cashless exercise” method as described in Section 4.5(b) of the Plan, or (c) by a combination of such methods of payment.
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Exercise and Payment of Option 
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Related to Exercise and Payment of Option

  • Exercise and Payment A registered holder may exercise a Warrant by delivering, not later than 5:00 P.M., New York time, on any business day during the Exercise Period (the “Exercise Date”) to the Warrant Agent at its corporate trust department (i) the Warrant Certificate evidencing the Warrants to be exercised, or, in the case of a Book-Entry Warrant Certificate, the Warrants to be exercised (the “Book-Entry Warrants”) shown on the records of the Depository to an account of the Warrant Agent at the Depository designated for such purpose in writing by the Warrant Agent to the Depository from time to time, (ii) an election to purchase the Warrant Shares underlying the Warrants to be exercised (“Election to Purchase”), properly completed and executed by the registered holder on the reverse of the Warrant Certificate or, in the case of a Book-Entry Warrant Certificate, properly delivered by the Participant in accordance with the Depository’s procedures, and (iii) the Warrant Price for each Warrant to be exercised in lawful money of the United States of America by certified or official bank check or by bank wire transfer in immediately available funds. If any of (A) the Warrant Certificate or the Book-Entry Warrants, (B) the Election to Purchase, or (C) the Warrant Price therefor, is received by the Warrant Agent after 5:00 P.M., New York time, on the specified Exercise Date, the Warrants will be deemed to be received and exercised on the business day next succeeding the Exercise Date. If the date specified as the Exercise Date is not a business day, the Warrants will be deemed to be received and exercised on the next succeeding day that is a business day. If the Warrants are received or deemed to be received after the Expiration Date, the exercise thereof will be null and void and any funds delivered to the Warrant Agent will be returned to the registered holder or Participant, as the case may be, as soon as practicable. In no event will interest accrue on funds deposited with the Warrant Agent in respect of an exercise or attempted exercise of Warrants. The validity of any exercise of Warrants will be determined by the Company in its sole discretion and such determination will be final and binding upon the registered holder or Participant, as applicable, and the Warrant Agent. Neither the Company nor the Warrant Agent shall have any obligation to inform a registered holder or the Participant, as applicable, of the invalidity of any exercise of Warrants. The Warrant Agent shall deposit all funds received by it in payment of the Warrant Price in the account of the Company maintained with the Warrant Agent for such purpose and shall advise the Company via telephone at the end of each day on which funds for the exercise of the Warrants are received of the amount so deposited to its account. The Warrant Agent shall promptly confirm such telephonic advice to the Company in writing.

  • Notice and Payment A. Any notice required to be given under this Agreement shall be in writing and delivered personally to the other designated party at the above stated address or mailed by certified, registered or Express mail, return receipt requested or by Federal Express. B. Either party may change the address to which notice or payment is to be sent by written notice to the other under any provision of this paragraph.