Exercise of the. Call Option shall be notified by the Issuer in writing to the Bond Trustee and the Bondholders at least thirty (30) Business Days prior to the settlement date of the Call Option.
Exercise of the. Put Option may be made by the Company at any time commencing on the third anniversary of the Closing and ending on November 30, 2011 (inclusive) by notice in writing of the Company to the Purchaser (hereinafter the “Exercise Notice”).
Exercise of the. Option This Option shall be exercisable in full or in part at any time, and from time to time, during the term hereof, at any time after the Date of Grant. No fractional shares may be issued pursuant to the exercise of this Option. Furthermore, the exercise of this Option shall be subject to the condition that if at any time the Company shall determine in its sole discretion that the satisfaction of withholding tax or other withholding liabilities, or that the listing, registration, or qualification of any shares otherwise deliverable upon such exercise upon any national securities exchange or under any state or federal law, or that the report to, or consent or approval of, any regulatory body, is necessary or desirable as a condition of, or in connection with, such exercise or the delivery or purchase of shares pursuant hereto, then in any such event, such exercise shall not be effective unless such withholding, listing, registration, qualification, report, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Company.
Exercise of the. Option Period will be contingent on the cumulative fulfillment of all the following terms:
Exercise of the. Kahta Option shall be effected by the giving to AME of a written notice signed by or on behalf of Avenue stating that it is exercising the Kahta Option. No such notice shall be effective unless given on or before the day that is 60 days after the completion or permanent or indefinite abandonment of the Tosun-1 Well (as notified by AME to Avenue).
Exercise of the. Clean-Up Call shall be notified by the Issuer in writing to the Bond Trustee and the Bondholders at least twenty Business Days prior to the settlement date of the Clean- Up Call. 10.3.3 On the settlement date of the Clean-Up Call, the Issuer shall pay to each of the Bondholders holding Bonds to be redeemed, in respect of each such Bond, the principal amount of such Bond (including any premium as stated above) and any unpaid interest accrued up to the settlement date. 10.3.4 Bonds redeemed by the Issuer in accordance with this Clause 10.3 shall be discharged against the Outstanding Bonds. 11
Exercise of the. Call Option shall oblige the Issuer to issue the Option Shares and the Subscriber to subscribe for the Option Shares against payment of the Call Option Price.
Exercise of the. OPTION The Option may be exercised with respect to all or any portion of the vested Option Shares at any time during the Option Period (as defined below) by the delivery to the Company, at its principal place of business, of (i) a written notice of exercise which shall be delivered to the Company no earlier than thirty (30) days and no later than ten (10) days prior to the date upon which Optionee desires to exercise all or any portion of the Option (the "Exercise Date"); and (ii) a certified check payable to the Company in the amount of the Exercise Price (as defined below) multiplied by the number of Option Shares being purchased (the "Purchase Price") OR with the advance approval of the Company, by delivery of a number of shares of Common Stock, which have been held by Optionee for at least six months, having a fair market value, as of the date the Option is exercised, at least equal to the Purchase Price OR with the advance approval of the Company by a certified check payable to the Company in an amount less than the Exercise Price and by delivery of a number of shares of Common Stock, which have been held by Optionee for at least six months, having a fair market value, as of the date the Option is exercised, at least equal to the balance of the Purchase Price OR with the advance approval of the Company by Optionee advising the Company, at the time this Option is exercised, to withhold from exercise under the Option the appropriate number of Option Shares, the aggregate fair market value of which on the date of exercise of the Option is equal to the aggregate cash purchase price of the Option Shares being exercised and purchased under the Option, and such withholding shall constitute full payment for the non-withheld Option Shares issued upon exercise OR such other consideration as the Board of Directors may specifically authorize. Upon acceptance of such notice, receipt of payment in full, the Company shall cause a certificate representing the shares of Common Stock as to which the Option has been exercised (less any withheld Option Shares, if applicable) to be issued and delivered to the Optionee.
Exercise of the. Rights against the Collaterals The Company may exercise its security rights under Article 19.4 at appropriate time without affecting any other rights of the Company hereunder.
Exercise of the. Option Brookdale may exercise the Option by giving the Company and the Owner at least five (5) days' prior written notice (the "Option Notice"), and if it is exercising the Option in connection with a prepayment of the Subordinate Notes in accordance subsection 2.3(e) of the Subordinate Loan Agreement, by causing the Company to give the Subordinate Lender notice of an optional prepayment in accordance with such paragraph. The Option Notice shall specify (a) whether Brookdale is exercising the Property Option or the Share Option, and (b) the date (the "Closing Date") of the exercise of the Option, which shall be the date of repayment of the Subordinate Notes and shall not be later than the Option Termination Date. If Brookdale exercises the Option prior to the Option Termination Date but fails to close prior to the Exercise Date, then the Option shall terminate and Brookdale's right shall cease and be null and void. The Company hereby appoints Brookdale as its true and lawful attorney-in-fact for purposes of giving notice of optional prepayment in accordance with subsection 2.3(e) of the Subordinate Loan Agreement, which appointment as attorney-in-fact is irrevocable and is coupled with an interest. Anything herein to the contrary notwithstanding, the exercise of the Option shall be conditioned upon (i) the repayment in full of the Subordinate Notes in accordance with the Subordinate Loan Agreement, (ii) the occurrence of a Triggering Event, as such term is defined in the Equity Option Agreement of even date herewith (as it may be amended from time to time, the "Equity Option Agreement") among AH Michigan Investor, Inc., the Company, the General Partner, the Owner and Brookdale, and (iii) the exercise by Brookdale immediately thereafter of the option granted to it pursuant to the Equity Option Agreement
