Exercise Periods. (a) The Shares Option shall be exercisable for a period commencing on the date of ABL’s death (the “Shares Option Exercise Commencement Date”) and expiring at 5:00 PM, Eastern time, on the later of (i) the date which is six (6) months following the Shares Option Exercise Commencement Date and (ii) if applicable, the date which is ten (10) calendar days following the Grantee’s receipt of the Valuation Statement (as hereinafter defined). Following the expiration of the exercise period described in the preceding sentence or the earlier termination of this Agreement in accordance with Section 7, the Shares Option or the unexercised portion thereof, if any, shall thereupon automatically terminate and be void and will no longer be exercisable. (b) Each Purchase Right Option shall be exercisable for a period commencing on the date of exercise, if any, of a Purchase Right by a Grantor (the “Purchase Right Option Exercise Commencement Date”) and expiring at 5:00 PM, Eastern time, on the latest of (i) the date which is sixty (60) calendar days following the Purchase Right Option Exercise Commencement Date, (ii) the date which is six (6) months following the Shares Option Exercise Commencement Date, and (iii) if applicable, the date which is ten (10) calendar days following the Grantee’s receipt of the Valuation Statement (as hereinafter defined). Following the expiration of the exercise period described in the preceding sentence or the earlier termination of this Agreement in accordance with Section 7, each Purchase Right Option or the unexercised portion thereof, if any, shall thereupon automatically terminate and be void and will no longer be exercisable. Each Purchase Right Option will also automatically terminate at such time, if any, as the Purchase Right to which it relates expires unexercised by the applicable Grantor.
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Exercise Periods. (a) The Shares Control Option shall may be exercisable for a exercised either as provided in Section 7.2(c), or by Purchaser at any time during any of the following periods (each, an "Exercise Period"):
(i) the period commencing on the date day of ABL’s death an Event and ending 270 days after Purchaser receives written notice from or on behalf of any Optionor of the occurrence of an Event;
(ii) the period commencing on the day of a Resignation Event and ending 90 days after Purchaser receives a written notice from (or on behalf of ) any Optionor of the occurrence of a Resignation Event;
(iii) the period commencing on the day that Purchaser receives a written notice from (or on behalf of ) Grantor requesting that Purchaser exercise the Control Option (the “Shares "Grantor's Notice"), which notice may be delivered only on or after the fifth anniversary of the SPA Closing, and ending 180 days after such day;
(iv) the period commencing on the seventh anniversary of the SPA Closing and ending on the eighth anniversary of the SPA Closing;
(v) the period commencing on the day of a ▇▇▇▇▇ Bankruptcy Event and ending 30 days after Purchaser receives written notice of the occurrence of a ▇▇▇▇▇ Bankruptcy Event; and
(vi) the period commencing on August 12, 1998, which period shall only apply to the exercise of the Control Option pursuant to the ▇▇▇▇▇/Comcast Agreement; provided, that upon the occurrence of the Initial Closing as defined in the BTH/Comcast Agreement the Exercise Commencement Date”Period described in this Section 3.1(a)(vi) and expiring at 5:00 PMshall automatically terminate. provided that no Exercise Period will expire if immediately preceding such expiration there is in effect a law, Eastern regulation or order that stays or otherwise prohibits Purchaser from delivering an Exercise Notice after (or as a result of) the occurrence of a ▇▇▇▇▇ Bankruptcy Event; provided further however, that the commencement of any Exercise Period described in Sections 3.1(a)(i) through (v) inclusive shall be postponed until such time, if ever, on the later earlier to occur of (i) the date which is six (6) months following the Shares Option Exercise Commencement Date and (ii) if applicable, ▇▇▇▇▇/Comcast Agreement shall have expired or been terminated or the date which is ten (10) calendar days following the Grantee’s receipt of the Valuation Statement (as hereinafter defined). Following Initial Closing under the expiration of the exercise period BTH/Comcast Agreement, but in no event shall such Exercise Periods described in the preceding sentence or the earlier termination of this Agreement in accordance with Section 7Sections 3.1(a)(i) - 3.1(a)(v) end later than December 20, the Shares Option or the unexercised portion thereof, if any, shall thereupon automatically terminate and be void and will no longer be exercisable2002.
(b) Each Purchase Right Option shall be exercisable for a period commencing on the date of exercise, if any, of a Purchase Right by a Grantor (the “Purchase Right Option Exercise Commencement Date”) and expiring at 5:00 PM, Eastern time, on the latest of The notices delivered pursuant to clauses (i) the date which is sixty (60) calendar days following the Purchase Right Option Exercise Commencement Date), (ii) the date which is six (6) months following the Shares Option Exercise Commencement Date), and (iii) and (v) will be in the form attached hereto as Exhibit A. A Grantor's Notice delivered pursuant to clause (iii) will be effective only if applicablea similar notice is simultaneously delivered to Purchaser under the Related Option Agreements. Once delivered to Purchaser, a Grantor's Notice will be irrevocable.
(c) Subject to the termination provisions of Section 3.6, the date which is ten (10) calendar days following the Grantee’s receipt of the Valuation Statement (as hereinafter defined). Following the expiration of the exercise period described parties acknowledge that at any given time there may be more than one Exercise Period in the preceding sentence or the earlier termination of this Agreement in accordance with Section 7, each Purchase Right Option or the unexercised portion thereof, if any, shall thereupon automatically terminate and be void and will no longer be exercisable. Each Purchase Right Option will also automatically terminate effect at such time, .
(d) Grantor acknowledges and agrees that the delivery of an Exercise Notice pursuant to a Section 3.1(a)(vi) Exercise is being made for the account of Comcast. BTH shall not be liable to Grantor under this Agreement if any, as the Purchase Right closing of the Section 3.1(a)(vi) Exercise shall not occur for any reason provided that this Section 3.1(d) shall not be deemed to be a waiver by Grantor of any claim which it relates expires unexercised may have against BTH due to a breach by BTH of its obligations hereunder or preserved pursuant to the applicable Grantorsecond sentence of Section 1.6 of the Agreement and Amendment No. 1 to Shareholders Agreement of even date herewith."
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Exercise Periods. (a) The Shares Control Option shall may be exercisable for a exercised ---------------- either as provided in Section 7.2(c), or by Purchaser at any time during any of the following periods (each, an "EXERCISE PERIOD"):
(i) the period commencing on the date day of ABL’s death an Event and ending 270 days after Purchaser receives written notice from or on behalf of any Optionor of the occurrence of an Event;
(ii) the period commencing on the day of a Resignation Event and ending 90 days after Purchaser receives a written notice from (or on behalf of) any Optionor of the occurrence of a Resignation Event;
(iii) the period commencing on the day that Purchaser receives a written notice from (or on behalf of ) Grantor requesting that Purchaser exercise the Control Option (the “Shares "GRANTOR'S NOTICE"), which notice may be delivered only on or after the fifth anniversary of the SPA Closing, and ending 180 days after such day;
(iv) the period commencing on the seventh anniversary of the SPA Closing and ending on the eighth anniversary of the SPA Closing;
(v) the period commencing on the day of a ▇▇▇▇▇ Bankruptcy Event and ending 30 days after Purchaser receives written notice of the occurrence of a ▇▇▇▇▇ Bankruptcy Event; and
(vi) the period commencing on August 12, 1998, which period shall only apply to the exercise of the Control Option pursuant to the ▇▇▇▇▇/Comcast Agreement; provided, that upon the occurrence of the Initial Closing as -------- defined in the BTH/Comcast Agreement the Exercise Commencement Date”Period described in this Section 3.1(a)(vi) and expiring at 5:00 PMshall automatically terminate. provided that no Exercise Period will expire if immediately preceding such -------- expiration there is in effect a law, Eastern regulation or order that stays or otherwise prohibits Purchaser from delivering an Exercise Notice after (or as a result of) the occurrence of a ▇▇▇▇▇ Bankruptcy Event; provided further however, that the commencement of any Exercise Period described in Sections 3.1(a)(i) through (v) inclusive shall be postponed until such time, if ever, on the later earlier to occur of (i) the date which is six (6) months following the Shares Option Exercise Commencement Date and (ii) if applicable, ▇▇▇▇▇/Comcast Agreement shall have expired or been terminated or the date which is ten (10) calendar days following the Grantee’s receipt of the Valuation Statement (as hereinafter defined). Following Initial Closing under the expiration of the exercise period BTH/Comcast Agreement, but in no event shall such Exercise Periods described in the preceding sentence or the earlier termination of this Agreement in accordance with Section 7Sections 3.1(a)(i) - 3.1(a)(v) end later than December 20, the Shares Option or the unexercised portion thereof, if any, shall thereupon automatically terminate and be void and will no longer be exercisable2002.
(b) Each Purchase Right Option shall be exercisable for a period commencing on the date of exercise, if any, of a Purchase Right by a Grantor (the “Purchase Right Option Exercise Commencement Date”) and expiring at 5:00 PM, Eastern time, on the latest of The notices delivered pursuant to clauses (i) the date which is sixty (60) calendar days following the Purchase Right Option Exercise Commencement Date), (ii) the date which is six (6) months following the Shares Option Exercise Commencement Date), and (iii) and (v) will be in the form attached hereto as Exhibit A. A Grantor's Notice delivered pursuant to clause (iii) will be effective only if applicablea similar notice is simultaneously delivered to Purchaser under the Related Option Agreements. Once delivered to Purchaser, a Grantor's Notice will be irrevocable.
(c) Subject to the termination provisions of Section 3.6, the date which is ten (10) calendar days following the Grantee’s receipt of the Valuation Statement (as hereinafter defined). Following the expiration of the exercise period described parties acknowledge that at any given time there may be more than one Exercise Period in the preceding sentence or the earlier termination of this Agreement in accordance with Section 7, each Purchase Right Option or the unexercised portion thereof, if any, shall thereupon automatically terminate and be void and will no longer be exercisable. Each Purchase Right Option will also automatically terminate effect at such time, .
(d) Grantor acknowledges and agrees that the delivery of an Exercise Notice pursuant to a Section 3.1(a)(vi) Exercise is being made for the account of Comcast. BTH shall not be liable to Grantor under this Agreement if any, as the Purchase Right closing of the Section 3.1(a)(vi) Exercise shall not occur for any reason provided that this Section 3.1(d) shall not be deemed to be a waiver by Grantor of any claim which it relates expires unexercised may have against BTH due to a breach by BTH of its obligations hereunder or preserved pursuant to the applicable Grantorsecond sentence of Section 1.6 of the Agreement and Amendment No. 1 to Shareholders Agreement of even date herewith."
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