Common use of Exercise of the Put Option Clause in Contracts

Exercise of the Put Option. (a) The Put Option may be exercised by delivery to the Optionee of the Notice of Put at any time during the Option Period upon which the Optionee shall be obligated to purchase from the Optionor all (but not part only) of the Option Shares in accordance with Sections 2.4 and 2.7 herein. (b) The Notice of Put, once delivered, shall be irrevocable and may not be withdrawn except with the written consent of the Optionee. (c) The Put Option shall be deemed to have been duly exercised by the Optionor if the Notice of Put is received by the Optionee at any time during the Option Period, notwithstanding that the sale of the Option Shares is effectuated after the Option Period in accordance with Section 2.7.

Exercise of the Put Option. (a) The Put Option may be exercised by delivery to the Optionee of the Notice of Put at any time during the Option Period upon which the Optionee shall be obligated to purchase from the Optionor all (but not part only) of the Option Shares in accordance with Sections 2.4 and 2.7 herein. (b) The Notice of Put, once delivered, shall be irrevocable and may not be withdrawn except with the written consent of the Optioneeother Party. (c) The Put Option shall be deemed to have been duly exercised by the Optionor if the Notice of Put is received by the Optionee at any time during the Option Period, notwithstanding that the sale of the Option Shares is effectuated effected after the Option Period in accordance with Section 2.7.