Exercise of the Call Option. 4.1 Following the receipt of the Tested Share Price Notice during the Call Option Period, the Manager shall have the right to exercise the respective Call Option Tranche on any Business Day within the Call Option Period. 4.2 To execute the Call Option the Manager shall serve the Company a written notice regarding the exercise of the respective Call Option Tranche (the “Call Option Exercise Notice”), substantially in the form of Schedule [4.2] hereto, stating the total Exercise Price for all the Call Option Shares for which the Call Option will be exercised and the number of such Shares being the product of the Exercise Price and the number of the Call Option Shares subject to the Call Option Exercise Notice (the “Call Option Price”). 4.3 Without prejudice to Clause 5, the Manager shall pay the Call Option Price to the Company within 30 (thirty) days from the delivery of the Call Option Exercise Notice to the Company. As soon as practically possible from the date on which the Call Option Price is credited to the bank account of the Company, the respective Call Option Shares shall be transferred by the Broker to the securities account of the Manager. The settlement of the Call Option shall be conducted in accordance with Clause 8.
Appears in 2 contracts
Sources: Long Term Incentive Program Agreement, Long Term Incentive Program Agreement