Extension of Exercise Periods Clause Samples
The Extension of Exercise Periods clause allows for the extension of the time frame during which a party may exercise certain rights, such as options or warrants, under a contract. Typically, this clause is triggered by specific events like the holder's disability, death, or termination of employment, and it adjusts the original exercise deadline accordingly. Its core practical function is to provide flexibility and fairness by ensuring that unforeseen circumstances do not unfairly prevent a party from exercising their contractual rights.
Extension of Exercise Periods. The 120 and 270 day periods for exercise of certain rights under Sections 2 and 9 shall be extended in each such case at the request of Holder or Owner to the extent necessary to avoid liability by a Holder or Owner under Section 16(b) of the Securities Exchange Act of 1934, as amended, by reason of such exercise.
Extension of Exercise Periods. The periods during which the Company may exercise its rights under Sections 2 and 3 hereof, or Parent may exercise its rights under Section 2(g), shall be extended in each such case at the request of the Company to the extent necessary to avoid liability by the Company under Section 16(b) of the Exchange Act by reason of such exercise.
Extension of Exercise Periods. The periods during which Grantee may exercise its rights under Sections 2 and 3 hereof shall be extended in each such case at the request of Grantee to the extent necessary to avoid liability by Grantee under Section 16(b) of the Exchange Act by reason of such exercise.
Extension of Exercise Periods. The 120 day period for exercise of ----------------------------- certain rights under Section 22 shall be extended (i) to the extent necessary to obtain all regulatory approvals for the exercise of such rights, and for the expiration of all statutory waiting periods, (ii) to the extent necessary to avoid liability under Section 16(b) of the Exchange Act by reason of such exercise, and (iii) during any period in which Grantee is precluded from exercising such rights due to an injunction or other legal restriction, plus, in the case of clauses (i), (ii) and (iii), for an additional period of ten business days following the obtaining of such approvals or the expiration of such periods.
Extension of Exercise Periods. The periods for exercise of certain rights under Sections 2 and 3 hereof shall be extended in each such case at the request of Exxon to the extent necessary to avoid liability by Exxon under Section 16(b) of the Exchange Act by reason of such exercise.
Extension of Exercise Periods. The periods during which the Company may exercise its rights under Sections 2 and 3 hereof shall be extended in each such case at the request of the Company to the extent necessary to avoid liability by the Company under Section 16(b) of the Exchange Act by reason of such exercise.
Extension of Exercise Periods. 2.1 If a Breach Notice has been served and/or an Arbitrator is considering a claim in respect of a Fundamental Breach during any period in which an Option is exercisable, and such Option has not been exercised, such Option Exercise Period shall be extended to expire 30 days after the date of receipt of the Arbitrator's determination in respect of the alleged Fundamental Breach.
2.2 In the event that any of (i) the First Shell Call Option Exercise Period, (ii) the Second Shell Call Option Exercise Period or (iii) the Second Shell Call Option Exercise Period and the Cosan Option Exercise Period combined, is extended for a period in excess of six months in accordance with Clause 2.1, and the Arbitrator determines that no Fundamental Breach has occurred, the Party that was alleged to have committed the Fundamental Breach but which the Arbitrator determines was not in Fundamental Breach, (i) may elect to have the Base Value recalculated as of such later date, and (ii) notwithstanding anything else in this Agreement to the contrary shall be entitled to select which of the two Base Values calculated is used to determine the applicable Option Price.
Extension of Exercise Periods. The 30-day, 6-month, 12-month, 18-month or 24-month periods for exercise of certain rights under Sections 2, 6, 7, 9, 12 and 15 will be extended: (i) to the extent necessary to obtain all regulatory approvals for the exercise of such rights (for so long as the Holder, Owner, Substitute Option Holder or Substitute Share Owner, as the case may be, is using commercially reasonable efforts to obtain such regulatory approvals), and for the expiration of all statutory waiting periods; and (ii) to the extent necessary to avoid liability under Section 16(b) of the 1934 Act by reason of such exercise.
Extension of Exercise Periods. (A) The second paragraph of Section 4 of the 2017 Option Agreement is hereby deleted in its entirety and replaced with the following: If the Participant ceases to be an Employee, director or Consultant of the Company or of an Affiliate for any reason other than the death or Disability of the Participant, or termination of the Participant for Cause (the “Termination Date”), the Option to the extent then vested and exercisable pursuant to Section 3 hereof as of the Termination Date, and not previously terminated in accordance with this Agreement, may be exercised until the earlier of (i) November 15, 2018, or (ii) the termination by the Company of the Consultancy Period (as defined in that certain Letter Agreement and Release dated May 9, 2018 pursuant to which the Participant has agreed to continue to advise the Company’s Interim CEO and the Company on an as-needed basis through November 15, 2018), but may not be exercised thereafter except as set forth below. In such event, the unvested portion of the Option shall not be exercisable and shall expire and be cancelled on the Termination Date.
(B) Section 3.3(c) of the 2018 Option Agreement is hereby deleted in its entirety and replaced with the following:
(C) the earlier of (i) November 15, 2018, or (ii) the termination by the Company of the Consultancy Period (as defined in that certain Letter Agreement and Release dated May 9, 2018 pursuant to which the Participant has agreed to continue to advise the Company’s Interim CEO and the Company on an as-needed basis through November 15, 2018).
Extension of Exercise Periods. The periods for exercise of the rights hereunder shall be extended in each such case at the request of the Holder to the extent necessary to avoid liability by the Holder under Section 16(b) of the Exchange Act by reason of such exercise.