Exercise Election Clause Samples
The Exercise Election clause defines the process by which a party may choose to exercise a specific right or option under the agreement. Typically, this clause outlines the required steps for making such an election, such as providing written notice within a certain timeframe or fulfilling certain conditions. For example, it may apply when a party has the option to purchase additional shares or extend a contract term. Its core practical function is to ensure clarity and consistency in how and when rights or options can be exercised, thereby reducing the risk of disputes or misunderstandings between the parties.
Exercise Election. This constitutes notice, as required under my Director Stock Option Agreement, that I elect to purchase the number of shares for the price set forth below. Stock Option dated: ______________________________________ Exercise price per Share: ______________________________________ Number of Shares as to which option is being exercised: ______________________________________ Total Exercise Price: ______________________________________
Exercise Election. Date: ----------------
Exercise Election. To exercise an Option in whole or in part, the Optionholder must file with the Administrative Committee, an OPTion Exercise Election, properly completed and duly executed by the Optionholder, specifying the amount of Spread desired, together with payment of the Strike Price related to the desired Spread. Notwithstanding the foregoing, the Administrative Committee may, in the exercise of its discretion, waive the payment of the Strike Price.
Exercise Election. The Holder hereby elects to exercise the Warrant, in part, into __________ Warrant Shares. Notwithstanding anything to the contrary contained herein, this Exercise Notice shall constitute a representation by the Holder of the Warrant submitting this Exercise Notice that after giving effect to the exercise provided for in this Exercise Notice, such Holder (together with its Affiliates) will not have beneficial ownership (together with the beneficial ownership of such Person's Affiliates) of a number of shares of Common Stock which exceeds the Maximum Percentage of the total outstanding shares of Common Stock of the Company as determined based on the Reported Outstanding Share Number and otherwise pursuant to the provisions of Section 1(f) of the Warrant.