Common use of Term and Exercise Clause in Contracts

Term and Exercise. Buyer may exercise the Option at any time up to 5:00 p.m., New York City time on January 16, 2004 (the "Termination Date") by delivery to Seller of written notice of its exercise of the Option, together with its check for the full Purchase Price (as defined below). Within 5 business days following exercise of the Option, Seller shall deliver to Buyer certificates for the Shares, duly exercised for transfer, at which time the closing of the purchase of the Shares from Seller shall occur (the "Closing"). The date of the Closing is referred to herein as the "Closing Date."

Term and Exercise. Buyer may exercise the Option at any time up to 5:00 p.m., New York City time on January 16, 2004 (the "“Termination Date"”) by delivery to Seller of written notice of its exercise of the Option, together with its check for the full Purchase Price (as defined below). Within 5 business days following exercise of the Option, Seller shall deliver to Buyer certificates for the Shares, duly exercised for transfer, at which time the closing of the purchase of the Shares from Seller shall occur (the "“Closing"”). The date of the Closing is referred to herein as the "“Closing Date."”

Term and Exercise. Buyer may exercise the Option at any time up to 5:00 p.m., New York City time on January 1610, 2004 (the "“Termination Date"”) by delivery to Seller of written notice of its exercise of the Option, together with its check for the full Purchase Price (as defined below). Within 5 business days following exercise of the Option, Seller shall deliver to Buyer certificates for the Shares, duly exercised for transfer, at which time the closing of the purchase of the Shares from Seller shall occur (the "“Closing"”). The date of the Closing is referred to herein as the "“Closing Date."”