Common use of Option Completion Clause in Contracts

Option Completion. 7.7.1. Upon any Call Option being exercised, it shall be deemed that the Shareholder against whom the Call Option is exercised (the “Call Option Seller”) thereby unconditionally and irrevocably permits and authorizes the Shareholder exercising the Call Option and/or its designee (as the case may be) (the “Call Option Purchaser”) as the former’s representative to do or cause to be done any acts and things necessary or incidental to effect the transfer of all Shares subject of the Call Option (the “Call Option Shares”) in favor of the latter. 7.7.2. For the avoidance of doubt, the authorization deemed given by the Call Option Seller under Section 7.7.1 shall also include the authorization to the Call Option Purchaser to empower any person as substitute as the Call Option Purchaser deem suitable for carrying on the aforesaid purposes. 7.7.3. Upon the Call Option being exercised, the Call Option Seller shall do or cause to be done any acts and things necessary or incidental to effect the transfer of all Call Option Shares to the Call Option Purchaser within fifteen (15) Business Days after the Call Option Seller’s receipt of the Call Option Exercise Notice, including but not limited to: (a) executing the share transfer instrument(s) to effect the transfer of the shares subject of the Call Option and delivering the duly executed share transfer instrument(s) to the Call Option Purchaser (or its qualified assignee or designee in the event that Grab is the Call Option Purchaser); (b) informing the Corporation of the exercise of the Call Option;