Exercise procedure definition

Exercise procedure. A Beneficiary wishing to exercise the Options vested, according to the Exercise Dates and the limits set forth in subsections 2.1 and 2.2 above, shall notify Terra twenty (20) business days prior to the Exercise Date pursuant to Article Five below, as to the number of Options the Beneficiary proposes to exercise. Exercised Options shall be paid out in cash differences and the Beneficiary shall be given Stock or a cash amount according to the settlement procedure provided in subsection 2.4 below; the option between one form of payment or the other shall rest exclusively with TERRA. For these purposes, the Beneficiary shall specify in the notice the securities account in which he wishes the Stock to be deposited, where applicable, as well as the bank account to which he wishes the cash amount to be transferred and, where applicable, the cash balance resulting from the pay-out in Stock.
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Examples of Exercise procedure in a sentence

  • The Automatic Exercise procedure is provided as a convenience and as a protection against inadvertent expiration of an Option.

  • Within two (2) Trading Days following an exercise of this Warrant as aforesaid (the “Price Delivery Date”), the Holder shall deliver payment to the Warrant Agent or the Company of an amount equal to the aggregate Exercise Price of the Warrant Shares thereby purchased by wire transfer or cashier’s check drawn on a United States bank or, if available, pursuant to the Cashless Exercise procedure specified in Section 2(c) below.

  • If the Company so approves, the Optionee may satisfy his obligations under this Section 5 by (i) tendering previously-acquired shares of Common Stock or having shares of Common Stock withheld from the shares of Common Stock to be received upon exercise, provided that the shares have an aggregate Fair Market Value on the date of exercise of the Option sufficient to satisfy in whole or in part the applicable withholding taxes; or (ii) utilizing the Cashless Exercise procedure described in Section 3(d).

  • In addition, at the election of the Optionee, the Optionee may satisfy his obligations under this Section by utilizing the Net Exercise procedure described in Section 3(d).

  • Except when using the Cashless Exercise procedure, Employee shall deliver to the Company at the time of such exercise or disposition such amount of money or shares of Stock as the Company may require to meet its withholding obligation under applicable tax laws or regulations, and, if Employee fails to do so, the Company is hereby authorized to withhold from any cash or Stock remuneration then or thereafter payable to Employee any tax required to be withheld by reason of such resulting compensation income.

  • Except to the extent the sale and remittance or Cashless Exercise procedure is utilized in connection with the Option exercise, payment of the Exercise Price must accompany the Exercise Notice delivered to the Company in connection with the Option exercise.

  • For purposes of clarity, in no event shall any shares of Company Common Stock be issued upon the deemed Cashless Exercise procedure described in the preceding sentence.

  • The undersigned, pursuant to the provisions set forth in the attached Warrant, hereby irrevocably elects to purchase (check applicable box): ___ ________ shares of the Common Stock covered by such Warrant; and/or ___ the maximum number of shares of Common Stock covered by such Warrant pursuant to the Cashless Exercise procedure set forth in Section 2(d)(ii).

  • Except when using the Cashless Exercise procedure, Director shall deliver to the Company at the time of such exercise or disposition such amount of money or shares of Stock as the Company may require to meet its withholding obligation under applicable tax laws or regulations, and, if Director fails to do so, the Company is hereby authorized to withhold from any cash or Stock remuneration then or thereafter payable to Director any tax required to be withheld by reason of such resulting compensation income.

  • Within two (2) Trading Days following an exercise of this Warrant as aforesaid (the “Price Delivery Date”), the Holder shall deliver payment to the Warrant Agent of an amount equal to the aggregate Exercise Price of the Warrant Shares thereby purchased, payable to the order of the Company, by wire transfer or cashier’s check drawn on a United States bank or, if available, pursuant to the Cashless Exercise procedure specified in Section 2(c) below.

Related to Exercise procedure

  • Initial Exercise Price shall have the meaning set forth in Section 2.4.1.

  • Exercise Price means the initial exercise price or the adjusted exercise price, depending on the context.

  • Warrant Exercise Period shall commence (subject to Section 6(d) below), on the later of:

  • Option Exercise Price means the price at which a share of Common Stock may be purchased upon the exercise of an Option.

  • Exercise Payment means the amount of money equal to the Exercise Price multiplied by the number of Optioned Shares specified in the Notice of Exercise;