Exercise of Options and Futures Contracts Clause Samples

Exercise of Options and Futures Contracts. 1. The Customer acknowledges that exchanges, clearing houses and Intermediaries have established cut-off times ("Prescribed Cut-off Times") for the submission of exercise instructions in relation to options and SFP may set its own exercise cut-off times ("SFP Cut-off Times") which may be earlier than the Prescribed Cut-off Times. 2. It is the Customer's sole responsibility to make itself aware of all relevant Prescribed Cut-off Times in respect of an option. The Customer acknowledges that Prescribed Cut-off Times may be imposed (and from time to time amended) by exchanges, clearing houses or Intermediaries without prior notice or without notice and which may be beyond the control of SFP, and the Customer agrees to abide by and be subject to all such Prescribed Cut-off Times. 3. SFP shall give the Customer reasonable prior notice of any SFP Cut-off Time which differs from a Prescribed Cut-off Times. 4. Any instruction from the Customer to exercise an option must be received by SFP before the Prescribed Cut-off Time or SFP Cut-off Time, whichever is earlier. 5. The Customer acknowledges that in the event that it does not instruct SFP to exercise an option as provided in clause A.2.4, such option may expire worthless. 6. Where the Customer has: (a) sold an option and such option is exercised by the option purchaser; or (b) entered into a futures contract and the Customer is required to deliver the underlying under such futures contract, the Customer agrees and undertakes to: (i) make all the necessary payments and/or deliveries in accordance with the timelines and conditions; and/or (ii) accept any and all amendments to such option exercise or obligation to deliver the underlying under a futures contract, as the case may be, as may from time to time be prescribed by the relevant exchange, clearing house or Intermediary, as the case may be, and as notified by SFP to the Customer and the Customer acknowledges that the occurrence of any of clause A.2.6(a) or (b), as the case may be, the timelines and conditions under which the Customer may be required to perform its obligations under such options or futures contracts and the amendments in respect thereof, may be beyond the control of SFP. 7. Notwithstanding clause A.2.6, the Customer agrees and acknowledges that SFP may itself stipulate a different timeline and/or impose such additional or different conditions from that imposed by the relevant exchange, clearing house or Intermediary, as the case may be, in resp...
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Exercise of Options and Futures Contracts. 1. The Customer acknowledges that exchanges, clearing houses and Intermediaries have established cut-off times ("Prescribed Cut-off Times") for the submission of exercise instructions in relation to options and SFP may set its own exercise cut-off times ("SFP Cut-off Times") which may be earlier than the Prescribed Cut-off Times. 2. It is the Customer's sole responsibility to make itself aware of all relevant Prescribed Cut -off Times in respect of an option. The Customer acknowledges that Prescribed Cut-off Times may be imposed (and from time to time amended) by exchanges, clearing houses or Intermediaries without prior notice or without notice and which may be beyond the control of SFP, and the Customer agrees to abide by and be subject to all such Prescribed Cut-off Times. 3. SFP shall give the Customer reasonable prior notice of any SFP Cut-off Time which differs from a Prescribed Cut-off Times. 4. Any instruction from the Customer to exercise an option must be received by SFP before the Prescribed Cut-off Time or SFP Cut-off Time, whichever is earlier. 5. The Customer acknowledges that in the event that it does not instruct SFP to exercise an option as provided in clause A.2.4, such option may expire worthless. 6. Where the Customer has:
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Related to Exercise of Options and Futures Contracts

  • Exercise of Options 4.1 No portion of the option granted hereunder may be exercised for a fraction of a share. The option granted hereunder shall be deemed to be exercised when written notice of such exercise has been given to the Corporation to the attention of the Secretary of the Corporation accompanied by full payment of the exercise price and by such other documents as the Board of Directors of the Corporation (the "Board") may reasonably request. Until the issuance (as evidenced by the appropriate entry on the books of the Corporation or of a duly authorized transfer agent of the Corporation) of the stock certificate evidencing such Option Shares, no right to vote or receive dividends or any other rights as a shareholder shall exist with respect to the Option Shares, notwithstanding the exercise of the Option. The Corporation shall issue (or cause to be issued) such stock certificate promptly upon exercise of any portion of the option granted hereunder. No adjustment will be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 5 hereof. Exercise of a portion of the option granted hereunder in any manner shall result in a decrease in the number of Option Shares which thereafter may be available by the number of Shares as to which the Option is exercised. 4.2 In the event of termination of an Optionee as an employee or consultant with the Corporation (but not in the event of an Optionee's change of status from employee to consultant or from consultant to employee), such Optionee may, but only within such period of time as is determined by the Board, of at least thirty (30) days (but in no event later than the Option Expiration Date), exercise the option granted hereunder to the extent that Optionee was entitled to exercise it under Section 2 hereof at the date of such termination, or to such greater extent as may be determined by the Board. If the Optionee does not exercise such option to the extent so entitled within the time specified herein, the option shall terminate. 4.3 In the event of termination of an Optionee's status as an employee or consultant as a result of the Optionee's "disability," as defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended, the Optionee may exercise the option granted hereunder within twelve (12) months from the date of the Optionee's termination (but in no event shall the Optionee be entitled to exercise the option after the Option Expiration Date) to the extent that Optionee was entitled to exercise it under Section 2 on the date of termination. 4.4 In the event of the death of the Optionee, the option granted hereunder may be exercised at any time within twelve (12) months following the date of death (but in no event later may the option be exercised after the Option Expiration Date), by the Optionee's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option in accordance with Section 2 hereof on the date of death.