Exercise of Clause Samples
The "Exercise of" clause defines the process by which a party may utilize a specific right or option granted under the agreement. Typically, this clause outlines the steps required to exercise the right, such as providing written notice within a certain timeframe or fulfilling certain conditions. For example, it may apply to the exercise of stock options, purchase rights, or contractual remedies. The core function of this clause is to ensure clarity and consistency in how and when rights can be exercised, thereby reducing the risk of disputes or misunderstandings between the parties.
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Exercise of. Tag-Along Right."
(i) Transfers by the Majority Member. In the event that Magellan's or Crescent's Percentage Interest in the Company decreases to less than 25%, the other party (the "Majority Member") shall not Transfer all or part of its Interest without complying with the provisions of this Section 12.10(a). If the Majority Member desires to Transfer all or part of its Interest (the "Offered Interest") to a proposed transferee, each of the other Members (a "Remaining Member") may elect (the "Tag-Along Right") to sell to such proposed transferee, on the same terms, consideration (on a Percentage Interest basis) and conditions as were offered to the Majority Member, all of the Interest then owned by each Remaining Member (if the Majority Member is proposing to sell all of its Interest) or a portion of its Interest (if the Majority Member is proposing to sell less than all of its Interest) in the same proportion as the Interest proposed to be sold by the Majority Member.
Exercise of. Option The option shall be exercisable in accordance with the provisions of the Plan as follows:
Exercise of. Tag-Along Right".
(a) Transfers by the Stockholders. If one or more of the Stockholders (the "Transferring Shareholders" for purposes of this Section 2.01) desires to accept a bona fide offer from a third party (a "Proposed Purchaser") to purchase from the Transferring Shareholders more than fifty percent (50%) of the total outstanding Common Stock (the "Offered Shares"), each of the other Stockholders (a "Remaining Stockholder") may elect (the "Tag-Along Right") to sell to such Proposed Purchaser, on the same terms and conditions as were offered to the Transferring Stockholders, a number of the Shares then owned by each Remaining Stockholder equal to a percentage of the Offered Shares, which percentage shall be equal to the result obtained by dividing (i) the number of Shares of Common Stock owned by such Remaining Stockholder by (ii) the total number of shares of Common Stock issued and outstanding at the time of calculation. If any Remaining Stockholders exercise their Tag-Along Right, the Transferring Stockholders shall be entitled to sell that portion of the Transferring Stockholders' Shares of Common Stock equal to the difference between (a) the Offered Shares and (b) the shares of Common Stock which the Remaining Stockholders elect to sell pursuant to the exercise of their Tag-Along Right.
Exercise of. SECTION 10.6.3
Exercise of. Bring-Along Right"
(i) Transfers by the Majority Member. In the event that Charter Inc.'s or Crescent Operating's Percentage Interest in the Company decreases to less than 25% and the Majority Member proposes to Transfer its Interest to a proposed third party transferee in an arms-length transaction, then the Majority Member may, at its option, require (the "Bring-Along Right") each other Member to sell all of its Interest (the "Designated Interest") to the proposed transferee, at the same time and on the same terms, consideration (on a Percentage Interest basis) and conditions at which the Majority Member is selling its Interest.
Exercise of. If during the term of the [...***...] CIMA receives [...***...] the Products in the Field in [...***...] , CIMA shall [...***...]. Novartis shall [...***...] set forth in Section 3.1 (but where such date is less than [...***...], Novartis shall [...***...] to consider [...***...] and may [...***...] in its discretion. Upon the expiration of the [...***...
Exercise of. Management shall exercise its in a manner that is consistent with the terms of this Agreement,
Exercise of. Corporation agrees that these functions shall only be in a manner consistent with the provisions of the within _ARTICLE--U-NIO-N S-ECU- RITY Checkoff of Union Dues The Corporation agrees, during the term of this to the pay of all employees in the bargaining unit, an amount equal to the regular monthly dues, as by Union, and to remit prior to the end of such month to the Secretary-Treasurer of the Union, along a list of of whose wages made and the so deducted and a total of all regular wages to bargaining unit employees exclusive of fringe b nef its ( ) ( 98.5)
Exercise of. The Agency shall have all of the express powers set forth in Section 6500, et seq., of the Government Code, and other applicable laws and this Agreement. The Agency shall, in addition, have all implied powers necessary to perform its functions. The Agency shall exercise its powers only in a manner consistent with the provisions of this Agreement, the Bylaws and applicable law.
Exercise of. RIGHTS The failure by one of the parties under this License Agreement to assert its rights for any breach of this License Agreement shall not be deemed a waiver of such rights. The rights and remedies specified herein, except those specified as exclusive, are in addition to and shall not restrict any right or remedy either party may have at law or in equity for any breach of this License Agreement.