Later Exercise Clause Samples
The "Later Exercise" clause defines the conditions under which a party may exercise a right or option at a time after the initial opportunity has passed. Typically, this clause outlines the process for delayed exercise, such as providing notice within a specified period or meeting certain requirements before the right can be activated. For example, it may allow a party to purchase additional shares or extend a contract term after the original deadline, provided they comply with the stated procedure. The core function of this clause is to provide flexibility, ensuring that parties are not strictly bound by initial deadlines and can still take advantage of certain rights if circumstances change.
Later Exercise. The right to purchase is cumulative. If the full number of shares exercisable in any period is not exercised, the balance may be exercised at any time or from time to time after that date, as long as the exercise occurs prior to the expiration or termination of the Option.