Term for Exercise Clause Samples

The 'Term for Exercise' clause defines the specific period during which a party is permitted to exercise a particular right, such as an option or contractual privilege. Typically, this clause will state the start and end dates or conditions that trigger the beginning and expiration of the exercise window. For example, it may allow an employee to purchase stock options within a set number of years after vesting. Its core function is to provide clear boundaries for when rights can be exercised, thereby preventing disputes and ensuring both parties understand their respective timeframes and obligations.
Term for Exercise. This Option may be exercised after the effective date hereof, in the following installments:
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Term for Exercise. The Option becomes available for exercise, subject to the provisions of this Agreement, as to the percentage of the aggregate number of shares of Common Stock subject to the Option and on the dates set forth below: (a) Percentage and Date Schedule
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Term for Exercise. (a) The Option shall become exercisable, subject to the provisions of this Section 2 and Sections 3 and 4 hereof, in installments of _____ Common Shares on the first anniversary of the date of grant of the Option, ______ Common Shares on the second anniversary and ______ Common Shares on the third anniversary. Unless an earlier expiration date is specified by this Agreement (or, if applicable, in Supplement A), the Option shall expire at 5:00 P.M., Arizona Mountain time (such time shall hereinafter be referred to as the "End of Business"), on the day after the tenth anniversary of the date on which the Option was granted (the "Termination Date"). (b) Without limiting the generality of the foregoing, in the event: (i) the Corporation's stockholders holding at least 50% (or such greater percentage as may be required by the Certificate of Incorporation or By-Laws of the Corporation or by law) of the voting stock of the Corporation approve any merger, consolidation, sale of assets, liquidation or reorganization in which the Corporation will not survive as a publicly owned corporation (such approval hereinafter referred to as a "Merger Approval"); or (ii) any of the Corporation's Common Shares are purchased pursuant to a tender or exchange offer other than an offer by the Corporation, any Subsidiary of the Corporation (as defined in the Plan and hereinafter referred to as a "Subsidiary"), or any employee benefit plan maintained by the Corporation or a Subsidiary (such purchase hereinafter referred to as a "Tender Purchase"); then the Option shall become exercisable during the period beginning on the date of the Merger Approval or Tender Purchase, as the case may be, and ending on the thirtieth day following such date (but in no event shall the Option become exercisable under this paragraph earlier than six months from the date on which the Option was granted (the "Grant Date")). If any portion of the Option shall be exercised, the Option shall thereafter remain exercisable, according to its terms, only with respect to the number of Common Shares as to which the Option would otherwise be exercisable less the number of Common Shares with respect to which the Option has previously been exercised.
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Term for Exercise. The Stock Appreciation Rights shall be exercisable and the right to such exercise become non-forfeitable at a rate of 25% of the Common Shares covered thereby on each [one year] anniversary of the date of grant, subject to the provisions hereof, and shall remain exercisable over the remaining term of the Stock Appreciation Rights. Unless an earlier expiration date is specified by this Agreement, the right to exercise shall expire on the seventh (7) anniversary of the date of grant of these Stock Appreciation Rights. Notwithstanding the foregoing, upon the occurrence of a change in control (as defined in the Plan) any unexercised portion of the Stock Appreciation Right shall promptly be canceled in exchange for either (i) payment in cash of an amount equal to the excess of the change in control price over the exercise price for such rights, or (ii) an Alternative Award as defined in Paragraph 10(b) of the Plan.
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Term for Exercise. The Reload Option shall become exercisable, subject to the provisions of Sections 3 and 4 hereof, on ______________, which is the date six months after the grant date specified in Section 1 hereof. Unless an earlier expiration date is specified by this Agreement, the Reload Option shall expire at 5:00 P.M., Arizona Mountain time (such time shall hereinafter be referred to as the "End of Business"), on ________________, which is the expiration date of the Original Option (the "Termination Date").
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Term for Exercise. This Option is exercisable in full on or after the third anniversary of the date the Option was granted, subject to the provisions hereof, and shall remain exercisable over the remaining term of the Option. Unless an earlier expiration date is specified by this Agreement, the Option shall expire on the tenth anniversary of the date of grant of this Option. Notwithstanding the foregoing, upon the occurrence of a Change in Control (as defined in the Plan), any unexercised portion of the Option shall promptly be canceled in exchange for either (i) a payment in cash of an amount equal to the excess of the Change in Control Price over the exercise price for such Options, or (ii) an Alternative Award as defined in Section 10.(b) of the Plan.
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Term for Exercise. On October 19, 1998, the Option shall become exercisable, subject to the provision hereof, and shall remain exercisable over the remaining term of the Option. The Option may be exercised from time to time, in whole or in part, up to the number of shares with respect to which it is then exercisable. Except as an earlier expiration date is specified by this Agreement, the Option shall expire at 4:00 P.M., Long Beach, California time, on the tenth anniversary of the date of grant of this Option. Notwithstanding the foregoing, upon the occurrence of a Change in Control (as defined in the Plan), the Option shall become immediately and fully exercisable as to all shares to which the Option relates and shall remain exercisable until expiration or termination of the option.
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Term for Exercise. The Option shall become available for exercise beginning on the earlier of: (a) 180 days after the effective time of the Merger; (b) the date of the Employee's death; (c) the date of the Employee's disability (as defined below); (d) the business day before the effective date of any registration statement of the Surviving Corporation covering any of the Surviving Corporation's Class A Common Stock; or 2 (e) the business day before the effective time, closing or termination date of any merger or other business combination, tender offer, sale of all or substantially all of the assets of liquidation (or other similar transaction) involving the Surviving Company or its Class A Common Stock or Class B Common Stock, other than the Merger, subject to the provisions hereof, and provided that for purposes of paragraphs (a), (d) and (e) of this Section 2, the Employee shall not have ceased to be employed by the Corporation. The Option shall expire ten years from the date hereof, and the Class B Shares available under the Option may be purchased at any time and from time to time in one or more installments.
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Term for Exercise. (a) The Option shall become exercisable, subject to the provisions of this Section 2 and Sections 3 and 4 hereof, in installments of ___ Common Shares on the first anniversary of the date of grant of the Option, ___ Common Shares on the second anniversary and ___ Common Shares on the third anniversary. Unless an earlier expiration date is specified by this Agreement (or, if applicable, in Supplement A), the Option shall expire at 5:00 P.M., Arizona Mountain Standard Time (such time shall hereinafter be referred to as the “End of Business”), on the day after the tenth anniversary of the date on which the Option was granted (the “Termination Date”). (b) In addition to the provisions of Section 2(a) of the Agreement as set forth above, in the event a Participant’s employment with the Corporation, any Subsidiary, and any parent company or successor to the Corporation terminates after a Change of Control by reason of the Participant’s Retirement or by reason of a Qualifying Termination (as that term is defined in the Corporation’s Change of Control Agreements in existence at the time of the Change of Control even if the Participant has not entered into any such agreement) that occurs within two years after a Change of Control, the Option shall become exercisable, no later than the date of such termination, for the purchase of the full number of Common Shares specified in Section 1 above.
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Related to Term for Exercise

  • Procedure for Exercise (a) The Option may be exercised with respect to that portion of the Option which is exercisable at any particular time (the “Vested Shares”), from time to time, in whole or in part (but for the purchase of whole shares only), by delivery of a written notice (the “Exercise Notice”) from the Optionee to the Company, which Exercise Notice shall: (i) state that the Optionee elects to exercise the Option; (ii) state the number of Vested Shares with respect to which the Optionee is exercising the Option; (iii) in the event that the Option shall be exercised by the representative of the Optionee’s estate, include appropriate proof of the right of such Person to exercise the Option; (iv) state the date upon which the Optionee desires to consummate the purchase of such Vested Shares (which date must be prior to the termination of the Option); and (v) comply with such further provisions as the Company may reasonably require. (b) Payment of the Exercise Price for the Vested Shares to be purchased on the exercise of the Option shall be made by (i) certified or bank cashier’s check payable to the order of the Company, or if determined by the Administrator at the time of exercise, in its sole discretion, in (ii) the form of Shares already owned by the Optionee which have a Fair Market Value on the date of surrender equal to the aggregate Exercise Price of the Shares as to which such Option shall be exercised, or (iii) authorization for the Company to withhold a number of shares otherwise payable pursuant to the exercise of an Option having a Fair Market Value less than or equal to the aggregate Exercise Price, or (iv) any other form of consideration approved by the Administrator and permitted by applicable law or (v) any combination of the foregoing. (c) As a condition of delivery of the Vested Shares, the Company shall have the right to require the Optionee to remit to the Company in cash an amount sufficient to satisfy any federal, state and local withholding tax requirements related thereto. The Company in its sole discretion may permit the Optionee to satisfy the foregoing requirement by electing to have the Company withhold from delivery Shares or by delivering already owned unrestricted Shares, in each case, having a value equal to the minimum amount of tax required to be withheld. Such shares shall be valued at their Fair Market Value on the date as of which the amount of tax to be withheld is determined.

  • Procedures for Exercise The manner of exercising the Stock Option herein granted shall be by written notice to the Secretary of the Company at the time the Stock Option, or part thereof, is to be exercised, and in any event prior to the expiration of the Stock Option. Such notice shall state the election to exercise the Stock Option, the number of shares of Stock to be purchased upon exercise, the form of payment to be used, and shall be signed by the person so exercising the Stock Option.

  • Procedure for Exercise of Warrant Holder may exercise this Warrant by delivering the following to the principal office of the Company in accordance with Section 5.1 hereof: (i) a duly executed Notice of Exercise in substantially the form attached as Schedule A, (ii) payment of the Warrant Price then in effect for each of the Shares being purchased, as designated in the Notice of Exercise, and (iii) this Warrant. Payment of the Warrant Price may be in cash, certified or official bank check payable to the order of the Company, or wire transfer of funds to the Company’s account (or any combination of any of the foregoing) in the amount of the Warrant Price for each share being purchased. Notwithstanding any provisions herein to the contrary, if the Current Market Price (as defined below) is greater than the Warrant Price (at the date of calculation, as set forth below), the Holder may elect to receive, without the payment by the Holder of any additional consideration, shares of Common Stock equal to the value of the “spread” on the Shares (or the portion thereof being canceled) by surrender of this Warrant at the principal office of the Company in accordance with Section 5.1, together with the Notice of Exercise, in which event the Company shall issue to the Holder hereof a number of shares of Common Stock computed using the following formula: Where: X = the number of shares of Common Stock to be issued to the Holder pursuant to this net exercise Y = the number of shares of Common Stock purchasable under the Warrant or, if only a portion of the Warrant is being exercised, that portion of the Warrant requested to be exercised CMP = the Current Market Price (as of the date of such calculation) of one share of Common Stock WP = the Warrant Price (as adjusted as of the date of such calculation) For purposes of this Warrant, the “Current Market Price” of one share of Common Stock as of a particular date shall be determined as follows: (i) if traded on a national securities exchange or through the Nasdaq Stock Market, the Current Market Price shall be deemed to be the volume weighted average trading price of the Common Stock on such exchange as of five business days immediately prior to the date of exercise indicated in the Notice of Exercise (or if no reported sales took place on such day, the last date on which any such sales took place prior to the date of exercise); (ii) if traded over-the-counter but not on the Nasdaq Stock Market, the Current Market Price shall be deemed to be the average of the closing bid and asked prices as of five business days immediately prior to the date of exercise indicated in the Notice of Exercise; and (iii) if there is no active public market, the Current Market Price shall be the fair market value of the Common Stock as of the date of exercise, as determined in good faith by the Board of Directors of the Company.

  • Steps for Exercise of Equity Interest Purchase Option Subject to the provisions of the laws and regulations of China, Party A may exercise the Equity Interest Purchase Option by issuing a written notice to Party B (the “Equity Interest Purchase Option Notice”), specifying: (a) Party A’s or the Designee’s decision to exercise the Equity Interest Purchase Option; (b) the portion of equity interests to be purchased by Party A or the Designee from Party B (the “Optioned Interests”); and (c) the date for purchasing the Optioned Interests or the date for transfer of the Optioned Interests.

  • Standards for Exercising Remedies To the extent that applicable law imposes duties on Secured Party to exercise remedies in a commercially reasonable manner, Grantor acknowledges and agrees that it is not commercially unreasonable for Secured Party (a) to incur expenses deemed necessary by Secured Party to prepare Collateral for disposition or otherwise to complete raw material or work-in-process into finished goods or other finished products for disposition, (b) to fail to obtain third party consents for access to Collateral to be disposed of, or to obtain or, if not required by other law, to fail to obtain governmental or third party consents for the collection or disposition of Collateral to be collected or disposed of, (c) to fail to exercise collection remedies against Account Grantors or other Persons obligated on Collateral or to remove liens or encumbrances on or any adverse claims against Collateral, (d) to exercise collection remedies against Account Grantors and other Persons obligated on Collateral directly or through the use of collection agencies and other collection specialists, (e) to advertise dispositions of Collateral through publications or media of general circulation, whether or not the Collateral is of a specialized nature, (f) to contact other Persons, whether or not in the same business as Grantor, for expressions of interest in acquiring all or any portion of the Collateral, (g) to hire one or more professional auctioneers to assist in the disposition of Collateral, whether or not the collateral is of a specialized nature, (h) to dispose of Collateral by utilizing internet sites that provide for the auction of assets of the types included in the Collateral or that have the reasonable capability of doing so, or that match buyers and sellers of assets, (i) to dispose of assets in wholesale rather than retail markets, (j) to disclaim disposition warranties, including any warranties of title, (k) to purchase insurance or credit enhancements to insure Secured Party against risks of loss, collection or disposition of Collateral or to provide to Secured Party a guaranteed return from the collection or disposition of Collateral, or (l) to the extent deemed appropriate by Secured Party, to obtain the services of other brokers, investment bankers, consultants and other professionals to assist Secured Party in the collection or disposition of any of the Collateral. Grantor acknowledges that the purpose of this section is to provide non-exhaustive indications of what actions or omissions by Secured Party would not be commercially unreasonable in Secured Party's exercise of remedies against the Collateral and that other actions or omissions by Secured Party shall not be deemed commercially unreasonable solely on account of not being indicated in this Section. Without limitation upon the foregoing, nothing contained in this Section shall be construed to grant any rights to Grantor or to impose any duties on Secured Party that would not have been granted or imposed by this Security Agreement or by applicable law in the absence of this Section.