Common use of Business Hours and Timely Instructions Clause in Contracts

Business Hours and Timely Instructions. You may instruct us as to Option transactions through our office during local business hours and it will be executed when the applicable exchange is open for trading. Your instructions must allow sufficient time for us to complete the sale, close-out or exercise of any Options or any other action to be taken in connection with such Options. With respect to expiring Options, you will instruct us by no later than 4:30 p.m. Eastern time on the last trading day of the Option or by such other time as we may advise by notice in writing to you. If the last day of trading of the Option occurs on a day where the market closes early, you will instruct us by no later than one (1) hour after the market has closed. If you fail to give us timely instructions, we may take any action with respect to an Option that we in our sole discretion determine should be taken.

Business Hours and Timely Instructions. You may instruct us as to Option transactions through our office during local business hours and it will be executed when the applicable exchange is open for tradingtrading . Your instructions must allow sufficient time for us to complete the sale, close-out or exercise of any Options or any other action to be taken in connection with such OptionsOptions . With respect to expiring Options, you will instruct us by no later than 4:30 p.m. p .m . Eastern time on the last trading day of the Option or by such other time as we may advise by notice in writing to youyou . If the last day of trading of the Option occurs on a day where the market closes early, you will instruct us by no later than one (1) hour after the market has closedclosed . If you fail to give us timely instructions, we may take any action with respect to an Option that we in our sole discretion determine should be takentaken .