Common use of Failure to Exercise or Consummate Clause in Contracts

Failure to Exercise or Consummate. In the event the Employee fails to exercise any installment of the option concurrent with the consummation of the Accelerating Event, or, for whatever reason, the Accelerating Event is not consummated, the Employee’s right to exercise the conditionally vested shares expire and the vesting schedule as set forth in this Agreement shall control the date of the Employee’s right to exercise the next installment of the option.

Failure to Exercise or Consummate. In the event the Employee fails to exercise any installment of the option concurrent with the consummation of the Accelerating Event, or, for whatever reason, the Accelerating Event is not consummated, the Employee’s 's right to exercise the conditionally vested shares expire and the vesting schedule as set forth in this Agreement Exhibit A shall control the date of the Employee’s 's right to exercise the next installment of the option.