Exercise Term Clause Samples

Exercise Term. The Holders may not exercise their registration rights under Article II after the seven-year anniversary of the closing of the Business Combination.

Exercise Term. Subject to Section 1.4 hereof, UARS’ may not be exercised more than five (5) years after the Date of Grant contained in Section 1.1.

Exercise Term. This Option may not be exercised until six (6) months after the Date of Grant, and will expire and may not be exercised after the earliest of the following: (i) the expiration date set out in Section 2 above; or (ii) three (3) months after the date Optionee ceased to be an employee or director of the Company and its Subsidiaries, unless Optionee’s status ended due to death, in which case this Option will expire and may not be exercised more than one (1) year following the date of death.

Exercise Term. Subject to the terms and conditions hereinafter set forth, the Holder shall be entitled to purchase and acquire up to 110 Non-Voting Units (in minimum increments of 5 Non-Voting Units at a time) at any time and from time to time from the date of this Warrant until 5:00 p.m. E.

Exercise Term. This Warrant may be exercised at any time during the Term of this Warrant.

Exercise Term. The Holder may exercise this Warrant, in whole or ------------- in part (but not as to fractional shares), at any time or from time to time during that period (the "Exercise Period") commencing as of the Warrant Effective Date designated on the first page of this Warrant and ending at 5:00 p.m., Pacific Standard Time, on the Warrant Expiration Date designated on the first page of this Warrant. This Warrant shall, to the extent this Warrant is not fully and timely exercised during the Exercise Period, expire and be null and void and of no further force or effect.

Exercise Term. Except for Nonstatutory Options granted to Participants outside the United States, no Option granted under the Plan shall be exercisable for more than ten years from the Grant Date.

Exercise Term. The Holder, or its permitted successors and assigns, is entitled to purchase from the Company, subject to the terms and conditions hereinafter set forth, fully paid and non-assessable shares of Common Stock (“Stock”) which represents that number of shares determined by dividing (X) the sum of (a) $1,379,376.00 (being the principal amount of a promissory note issued by the Company to the initial Holder in the form attached as Exhibit C hereto), and (b) any interest accrued on such sum, to the extent any such obligations remain unpaid, prior to the Expiration Date (the sum of (a) and (b) being herein sometimes referred to as the “Aggregate Indebtedness”) by (Y) the Warrant Price.

Exercise Term. (a) All or any portion of these options, to the extent they have not previously become exercisable pursuant to Section 3(b), may be exercised in full at any time after April 1, 1998 and on or prior to June 30, 1998, at an exercise price of $1.15 per share. Notwithstanding anything herein to the contrary, options can become and remain exercisable pursuant to this Section 3(a) only if the Management Agreement between Optionee and the Company is in full force and effect and Optionee is providing management services in compliance therewith. (b) Notwithstanding Section 3(a), but subject to Section 5 herein, the numbers of Shares indicated below may be purchased at an exercise price of $1.15 at any time after achievement of the respective alternative vesting events set forth below and on or prior to June 30, 1998: Number of Shares Alternative Vesting Event 500,000 Completion of the first fiscal year in which the Company has Profits of at least $750,000 or in which the Stock price is at least $4.00. 750,000 Completion of the first year in which the Company has profits of at least $1,000,000 or in which the Stock Price is at least $5.00. More than one tranche of options may become exercisable at the same time. For example, if profits in the year ended March 31, 1996 are $1,200,000 or the Stock Price during that year is $5.25, both tranches (options for an aggregate of 1,250,000 shares) would become exercisable at an exercise price of $1.15 per share.