Common use of Notice of Exercise of Options Clause in Contracts

Notice of Exercise of Options. 6.3.1 Prior to the expiration of the thirty (30) day period following the date of delivery by the Transferring Shareholder of the Article 6 Notice of Sale ("Article 6 Option Period"), the Company shall give written notice of exercise of the options to the Transferring Shareholder, setting forth the name of each party who has elected to purchase the Article 6 Shares and the number of Article 6 Shares to be purchased by each party. 6.3.2 Each Shareholder who exercises his option to purchase shall be deemed to have authorized the Company to give, on his behalf, notice of exercise of the option. Upon the giving of such notice of exercise to the Transferring Shareholder, each of the parties named therein shall be obligated to purchase the number of Article 6 Shares which such party has elected to purchase for the purchase price set forth in Article 10 of this Agreement and the purchase price shall be paid in the manner provided in Article 11 of this Agreement.

Notice of Exercise of Options. 6.3.1 5.3.1 Prior to the expiration of the thirty (30) day period following the date of delivery by the Transferring Offering Shareholder of the Article 6 5 Notice of Sale ("Article 6 Option Period"), the Company shall give written notice of exercise of the options to the Transferring Offering Shareholder, setting forth the name of each party who has elected to purchase the Article 6 Offered Shares and the number of Article 6 Offered Shares to be purchased by each party. 6.3.2 5.3.2 Each Shareholder who exercises his option to purchase shall be deemed to have authorized the Company to give, on its or his behalf, notice of exercise of the option. Upon the giving of such notice of exercise to the Transferring Offering Shareholder, each of the parties named therein shall be obligated to purchase the number of Article 6 Offered Shares which such party has elected to purchase for the same purchase price and on all other terms and conditions set forth in the Article 10 5 Notice of this Agreement and the purchase price shall be paid in the manner provided in Article 11 of this AgreementSale.