Common use of IN CAPITAL STRUCTURE Clause in Contracts

IN CAPITAL STRUCTURE. If all or any portion of the option shall be exercised subsequent to any share dividend, split-up, recapitalization, merger, consolidation, combination or exchange of shares, separation, reorganization or liquidation occurring after the date of this agreement, as a result of which shares of any class shall be issued in respect of outstanding common shares, or common shares shall be changed into the same or a different number of shares of the same or another class or classes, the person or persons so exercising the Option shall receive the aggregate number and class of shares which, if common shares (as authorized at the date of this agreement) had been purchased at the date of this agreement for the same aggregate price (on the basis of the price per share set forth in Section Two of this agreement) and had not been disposed of, such person or persons would be holding, at the time of such exercise, as a result of such purchase and all such share dividends, split-ups, recapitalizations, mergers, consolidations, combinations or exchanges of shares, separations, reorganizations or liquidations; provided, however, that no fractional share be issued on any such exercise, and the aggregate price paid shall be appropriately reduced on account of any fractional share not issued. SECTION SEVEN METHOD OF EXERCISING OPTION Subject to the terms and conditions of this option agreement, this Option may be exercised by written notice to the Corporation, mailed or personally delivered to the Corporation at the following address: Suite 830 - 789 West Pender Street, Xxxxxxxxx, X.X. X0X XX0. Xxxx notice shall state the election to exercise the Option and the number of shares in respect of which it is being exercised, and shall be signed by the person or persons so exercising the Option. The notice shall either: (a) be accompanied by payment of the full purchase price of the shares, in which event the corporation shall deliver a certificate or certificates representing the shares as soon as practicable after the notice shall be received; or (b) fix a date (not less than five (5) nor more than ten (10) business days from the date such notice is to be received by the

IN CAPITAL STRUCTURE. If all or any portion of the option shall be exercised subsequent to any share dividend, split-up, recapitalization, merger, consolidation, combination or exchange of shares, separation, reorganization or liquidation occurring after the date of this agreement, as a result of which shares of any class shall be issued in respect of outstanding common shares, or common shares shall be changed into the same or a different number of shares of the same or another class or classes, the person or persons so exercising the Option shall receive the aggregate number and class of shares which, if common shares (as authorized at the date of this agreement) had been purchased at the date of this agreement for the same aggregate price (on the basis of the price per share set forth in Section Two of this agreement) and had not been disposed of, such person or persons would be holding, at the time of such exercise, as a result of such purchase and all such share dividends, split-ups, recapitalizations, mergers, consolidations, combinations or exchanges of shares, separations, reorganizations or liquidations; provided, however, that no fractional share be issued on any such exercise, and the aggregate price paid shall be appropriately reduced on account of any fractional share not issued. SECTION SEVEN METHOD OF EXERCISING OPTION Subject to the terms and conditions of this option agreement, this Option may be exercised by written notice to the Corporation, mailed or personally delivered to the Corporation at the following address: Suite 830 - 789 West Pender Street, Xxxxxxxxx, X.X. X0X XX0. Xxxx notice shall state the election to exercise the Option and the number of shares in respect of which it is being exercised, and shall be signed by the person or persons so exercising the Option. The notice shall either: (a) be accompanied by payment of the full purchase price of the shares, in which event the corporation shall deliver a certificate or certificates representing the shares as soon as practicable after the notice shall be received; or (b) fix a date (not less than five (5) nor more than ten (10) business days from the date such notice is to be received by thethe corporation) for the payment of the full purchase price of the shares against delivery of a certificate or certificates representing the shares. Payment of the purchase price shall, in either case, be made by cheque payable to the order of the Corporation. The certificate or certificates for the shares as to which the Option shall have been exercised shall be registered in the name of the Optionee and another person jointly, with right of survivorship, and shall be delivered as provided above to or on the written order of the person or persons exercising the Option. All shares that shall be purchased on the exercise of the option as provided in this agreement shall be fully paid and nonassessable. Any unexercised portion shall stay with the Optionee.

IN CAPITAL STRUCTURE. If all or any portion of the option shall be exercised subsequent to any share dividend, split-up, recapitalization, merger, consolidation, combination or exchange of shares, separation, reorganization or liquidation occurring after the date of this agreement, as a result of which shares of any class shall be issued in respect of outstanding common shares, or common shares shall be changed into the same or a different number of shares of the same or another class or classes, the person or persons so exercising the Option shall receive the aggregate number and class of shares which, if common shares (as authorized at the date of this agreement) had been purchased at the date of this agreement for the same aggregate price (on the basis of the price per share set forth in Section Two of this agreement) and had not been disposed of, such person or persons would be holding, at the time of such exercise, as a result of such purchase and all such share dividends, split-ups, recapitalizations, mergers, consolidations, combinations or exchanges of shares, separations, reorganizations or liquidations; provided, however, that no fractional share be issued on any such exercise, and the aggregate price paid shall be appropriately reduced on account of any fractional share not issued. SECTION SEVEN METHOD OF EXERCISING OPTION Subject to the terms and conditions of this option agreement, this Option may be exercised by written notice to the Corporation, mailed or personally delivered to the Corporation at the following address: Suite 830 930 - 789 West Pender StreetSxxxxx, Xxxxxxxxx, X.X. X0X XX0. Xxxx Such notice shall state the election to exercise the Option and the number of shares in respect of which it is being exercised, and shall be signed by the person or persons so exercising the Option. The notice shall either: (a) be accompanied by payment of the full purchase price of the shares, in which event the corporation shall deliver a certificate or certificates representing the shares as soon as practicable after the notice shall be received; or (b) fix a date (not less than five (5) nor more than ten (10) business days from the date such notice is to be received by theten

IN CAPITAL STRUCTURE. If all or any portion of the option shall be exercised subsequent to any share dividend, split-up, recapitalization, merger, consolidation, combination or exchange of shares, separation, reorganization or liquidation occurring after the date of this agreement, as a result of which shares of any class shall be issued in respect of outstanding common shares, or common shares shall be changed into the same or a different number of shares of the same or another class or classes, the person or persons so exercising the Option option shall receive the aggregate number and class of shares which, if common shares (as authorized at the date of this agreement) had been purchased at the date of this agreement for the same aggregate price (on the basis of the price per share set forth in Section Two of this agreement) and had not been disposed of, such person or persons would be holding, at the time of such exercise, as a result of such purchase and all such share dividends, split-ups, recapitalizations, mergers, consolidations, combinations or exchanges of shares, separations, reorganizations or liquidations; provided, however, that no fractional share be issued on any such exercise, and the aggregate price paid shall be appropriately reduced on account of any fractional share not issued. SECTION SEVEN METHOD OF EXERCISING OPTION Subject to the terms and conditions of this option agreement, this Option option may be exercised by written notice to the Corporationcorporation, mailed or personally delivered to the Corporation corporation at the following address: Suite 830 000 - 789 West Pender Street000 Xxxx Xxxxxx Xxxxxx, XxxxxxxxxVancouver, X.X. X0X XX0B.C. V6C 1H2. Xxxx Such notice shall state the election to exercise the Option option and the number of shares in respect of which it is being exercised, and shall be signed by the person or persons so exercising the Optionoption. The notice shall either: (a) be accompanied by payment of the full purchase price of the shares, in which event the corporation shall deliver a certificate or certificates representing the shares as soon as practicable after the notice shall be received; or (b) fix a date (not less than five (5) nor more than ten (10) business days from the date such notice is to be received by thethe corporation) for the payment of the full purchase price of the shares against delivery of a certificate or certificates representing the shares. Payment of the purchase price shall, in either case, be made by cheque payable to the order of the corporation. The certificate or certificates for the shares as to which the option shall have been exercised shall be registered in the name of the optionee and another person jointly, with right of survivorship, and shall be delivered as provided above to or on the written order of the person or persons exercising the option. All shares that shall be purchased on the exercise of the option as provided in this agreement shall be fully paid and nonassessable.