Common use of Time to Exercise Clause in Contracts

Time to Exercise. This Option shall be exercisable in installments as follows: (a) From and after November 1, 1999 - shares 15,000 shares (b) From and after November 1, 2000 - shares 15,000 shares (c) From and after November 1, 2001 - shares 15,000 shares (d) From and after November 1, 2002 - shares 15,000 shares (e) From and after November 1, 2003 - shares 15,000 shares To the extent not exercised, installments shall accumulate and be exercisable, in whole or in part, in any subsequent period. Anything in this Agreement to the contrary notwithstanding, this Option shall terminate and no part of the Option may be exercised after 5:00 p.m. on November 1, 2007.