RIGHT TO EXERCISE OPTIONS. Each Option may be exercised from the date of this Agreement until 11:59 P.M. (Pacific Standard time) on the date that is two years after the vesting date of this Option, or March 31, 2002 (the "Expiration Date"). Each Option not exercised on or before the Expiration Date shall expire. Subject to the provisions of this Option Agreement, including Section 10 hereof, the holder of each Option shall have the right to purchase from the Company, and the Company shall issue and sell to each such Option Holder, at an initial exercise price per share of $10.00, subject to adjustment as provided herein (the "Exercise Price"), one fully paid and nonassessable Share upon surrender to the Company of the Option Certificate evidencing such Option, with the form of election to purchase duly completed and signed and evidence of payment of the Exercise Price. Payment of the Exercise Price shall be made by wire transfer or check to the Company. A check for the option price shall not be considered delivered until good funds are received by the Company. Upon surrender of such Option Certificate and payment of the Exercise Price, the Company shall cause to be issued and delivered promptly to Option Holder a certificate for the Shares issuable upon the exercise of the Option or Options evidenced by such Option Certificate. The Options evidenced by an Option Certificate shall be exercisable at the election of the Option holder thereof, either as an entirety or from time to time for less than all of the number of Options specified in the Option Certificate.
RIGHT TO EXERCISE OPTIONS. Subject to all applicable laws, rules, regulations and the terms of the Plan and this Agreement, Grantee may exercise the Options at such time or times and to the extent the Options have become vested and exercisable, as specified on the cover page hereto, and prior to or on the applicable Stated Expiration Date of the Options (but not after any termination, forfeiture or expiration of the Option prior to the Stated Expiration Date).
RIGHT TO EXERCISE OPTIONS. Employees affected by such organizational or technological change shall have the right to exercise one of the following options:
RIGHT TO EXERCISE OPTIONS. In the event that LESSEE fails to ------------------------- exercise any options to renew or extend the term of this Lease within the time required or fails to exercise any option granted under this Lease to purchase the Premises or any part thereof, within the time permitted for exercise of such option, LESSOR shall give each Leasehold Mortgagee written notice of LESSEE'S failure to exercise any such option. Each Leasehold Mortgagee shall have thirty (30) days after receipt of LESSOR'S written notice within which to exercise the option which LESSEE failed to exercise, and any exercise of such option by a Leasehold Mortgagee shall have the same force and effect as if the option had been exercised within the required time by LESSEE, except that any time period calculated from the date that LESSEE exercised or could have exercised such an option shall be calculated instead from the date when the Leasehold Mortgagee exercised the option. LESSEE shall not have the right to exercise any option granted under this Lease to purchase the Premises or any part thereof without the written consent of each Leasehold Mortgagee. In the event that LESSOR should become subject to any bankruptcy proceedings, LESSEE shall not accept any rejection by LESSOR or LESSOR'S trustee in bankruptcy as terminating this Lease but, instead, shall remain in possession of the Premises to the full extent permitted by law. Without limiting the foregoing, no such acceptance of any rejection of this Lease shall be effective as to any Leasehold Mortgagee unless consented to in writing by such Leasehold Mortgagee.
