Restricted Options Sample Clauses
The 'Restricted Options' clause limits the choices or actions available to one or both parties under a contract. Typically, this clause specifies certain rights, such as the ability to purchase additional goods, extend a contract, or exercise other contractual options, but restricts when, how, or under what conditions these rights can be used. For example, it may prevent a party from exercising an option unless specific criteria are met or within a defined timeframe. The core function of this clause is to control and manage the exercise of contractual options, thereby reducing uncertainty and preventing misuse or overextension of rights.
Restricted Options. Subject to Section 4(a), upon the Participant’s Termination for any reason, the Restricted Options (as defined below) shall remain exercisable until the earlier of (i) five (5) days from the date of such Termination and (ii) the expiration of the stated term of the Option pursuant to Section 3(d).
Restricted Options. The Vendor acknowledges that the Purchaser Options issued pursuant to the terms and conditions set forth in this Agreement will have such hold periods as are required under applicable securities laws and as a result may not be sold, transferred or otherwise disposed, except pursuant to an effective registration statement under the Securities Act, or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in each case only in accordance with all applicable securities laws.
Restricted Options. All Restricted Options shall initially be Type 1 Restricted Options. Restricted Options shall only become Type 2 Restricted Options in accordance with the terms and conditions of Section 3(c)(i) subject to the proviso set forth in the definition of "Type 1 Restricted Options" relating to a Termination Event resulting from termination by the Parent or any of the Subsidiaries by whom the Optionholder is then employed for Cause or termination by the Optionholder of his employment by the Parent (if the Optionholder is then employed by the Parent) or any of Parent's Subsidiaries by whom the Optionholder is then employed without Employee Good Reason (other than because of death, Disability or Retirement), unless termination from less than all of the Company and its Subsidiaries is otherwise agreed to or requested by the Company.
Restricted Options. If the Optionholder's employment with the Parent (if the Optionholder is then employed by the Parent) or any of the Parent's Subsidiaries by whom the Optionholder is then employed terminates for any reason whatsoever, unless termination from less than all of the Parent and its Subsidiaries is otherwise agreed to or requested by the Parent or the Company (the "TERMINATION EVENT"), the Company shall have the option (exercisable at any time within ninety (90) days of the Termination Event by written notice to the Optionholder) to repurchase (or cause its designee to repurchase) from the Optionholder any or all of the Type 1 Restricted Options, at cost, without interest, initially paid by the Optionholder for the Restricted Options.
Restricted Options. You have requested that this policy be registered under the Income Tax Act (Canada) and any applicable provincial income tax legislation. Since every registered plan must conform to the provisions of the applicable tax and pension legislation, the options you were permitted to elect on the application for this policy were restricted. You do not have the right to change options after the Date of Issue of this policy. The word “spouse” as used in this policy is as defined under any applicable pension legislation.