No Right to Exercise Sample Clauses
The "No Right to Exercise" clause establishes that a party does not have the ability to exercise certain rights or options under the agreement. In practice, this means that even if a contract references the possibility of exercising an option, such as purchasing shares or triggering a specific contractual right, this clause explicitly withholds that ability from the party. Its core function is to prevent misunderstandings or disputes by making it clear that no such rights are granted or available, thereby ensuring clarity and managing expectations between the parties.
No Right to Exercise. Notwithstanding the foregoing with respect to any termination of employment, the Vested Portion of the Option may not be exercised pursuant to this Section 3 if the Company in its sole discretion determines that the Participant has, at any time during the term of employment or following termination of employment, violated the terms of any agreement with the Company or a Subsidiary regarding competition with the business of the Company or any Subsidiary, interference with contractual or business relationships of the Company or any Subsidiary, solicitation of employees, officers, partners, agents, or consultants of the Company or a Subsidiary or other similar covenant. In the event that a Participant violates the terms of any such agreement, the Company may cause such Participant to forfeit all of his or her outstanding Options and disgorge any gain realized upon the exercise of any Option within the six-month period preceding the violation.
No Right to Exercise. Notwithstanding the foregoing with respect to any termination of employment, the Option, to the extent vested, may not be exercised pursuant to this Section 3 if the Company in its sole discretion determines that the Participant has, at any time during the term of employment or following termination of employment, violated the terms of any agreement with the Company or a Subsidiary regarding competition with the business of the Company or any Subsidiary, interference with contractual or business relationships of the Company or any Subsidiary, solicitation of employees, officers, partners, agents, or consultants of the Company or a Subsidiary or other similar covenant. In the event that a Participant violates the terms of any such agreement, the Company may cause such Participant to forfeit all of his or her outstanding Options.
No Right to Exercise. Notwithstanding the foregoing with respect to any termination of employment, the Vested Portion of the Option may not be exercised pursuant to this Section 3 if the Company in its sole discretion determines that the Participant has, at any time during the term of employment or following termination of employment, violated the terms of any agreement (including the Employment Agreement) with the Company or a Subsidiary regarding competition with the business of the Company or any Subsidiary, interference with contractual or business relationships of the Company or any Subsidiary, solicitation of employees, officers, partners, agents, or consultants of the Company or a Subsidiary or other similar covenant to the event that a Participant violates the terms of any such agreement, the Company may cause such Participant to forfeit all of his or her outstanding Options (including the Vested Portion) and disgorge any gain realized upon the exercise of any Option within the six-month period preceding the violation.