Common use of Outstanding Stock Options Clause in Contracts

Outstanding Stock Options. (a) The Company and the Offeror agree that: (i) the Company may permit all persons holding Options, which by their terms are otherwise currently exercisable or not, to exercise such Options effective immediately prior to the Expiry Time, including by causing the vesting thereof to be accelerated and by way of cashless exercise and settlement of such Options for Shares, which exercise may be conditional upon the Offeror announcing its intention to take up and pay for Shares under the Offer; and (ii) the Company may establish such procedures as are desirable or necessary to carry out such cashless share settlement exercise. (b) The Company shall use its commercially reasonable efforts to cause all holders of Options to conditionally exercise such Options as described in Section 2.7(a) not later than five (5) Business Days prior to the Initial Expiry Time of the Offer (and not withdraw), to the appropriate person(s) all such documents as may be necessary or desirable to effect tender of the Shares to be issued as a result of such conditional exercise of Options to the Offer.

Outstanding Stock Options. (a) The Company and the Offeror agree that: (i) the Company may permit all persons holding Options, which by their terms are otherwise currently exercisable or not, to exercise such Options effective immediately prior to the Expiry Time, including by causing the vesting thereof to be accelerated and by way of cashless exercise and settlement of such Options for Shares, which exercise may be conditional upon the Offeror announcing its intention to take up and pay for Shares under the Offer; , and (ii) the Company may establish such procedures as are desirable or necessary to carry out such cashless share settlement exercise. (b) The Company shall use its commercially reasonable efforts to cause all holders of Options to conditionally exercise such Options as described in Section 2.7(a) not later than five (5) Business Days prior to the Initial Expiry Time of the Offer (and not withdraw), to the appropriate person(s) all such documents as may be necessary or desirable to effect tender of the Shares to be issued as a result of such conditional exercise of Options to the Offer.