Securities Options Sample Clauses
The Securities Options clause defines the terms under which a party may purchase or be granted options to acquire securities, such as shares or bonds, in a company. Typically, this clause outlines the conditions for exercising the options, the price at which the securities can be acquired, and any vesting schedules or restrictions that may apply. Its core practical function is to provide a clear framework for granting and exercising options, thereby incentivizing key stakeholders and aligning their interests with the company’s long-term success.
Securities Options. (a) The underlying security; (b) The price at which purchased or sold;
(c) The expiration date;
(d) The number of contracts; (
Securities Options. In order to induce Parent and the Purchaser to enter into the Merger Agreement, the Stockholder hereby grants to the Parent an irrevocable option (the "Securities Option") to purchase all, but not less than all, of the shares of Preferred Stock and Common Stock (the "Option Securities") owned by the Stockholder at a price per share of Preferred Stock and per share of Common Stock of $28.75 in cash (the "Purchase Price"). As of the date hereof, the Stockholder owns 1,000,000 shares of Common Stock and 4,206,000 shares of Preferred Stock. In the event of a stock dividend or distribution, or any change in the Common Stock or Preferred Stock by reason of any stock dividend, split-up, recapitalization, combination, exchange of shares or the like, the term "Option Securities" shall refer to and include the Option Securities as well as all such stock dividends and distributions and any shares into which or for which any and all of the Option Securities may be changed or exchanged and the Purchase Price shall be adjusted to reflect appropriately the effect thereof. The Securities Option may be exercised, in whole but not in part, by the Parent at any time or from time to time on or after the date which is 60 days following a termination of the Merger Agreement (other than (x) a termination by mutual written consent of Parent and the Company, (y) by the Company pursuant to Section 7.1(g) of the Merger Agreement or (z) by Parent as a result of a material breach by the Company of a representation or warranty in Article II of the Merger Agreement).
Securities Options. (1) The buyer of a European Securities Option is entitled to exercise such option on the Expiration Date as of the Earliest Exercise Time up to the expiration time. Any declaration of the exercise of an option which the seller receives on a Scheduled Trading Day before the expiration date or on the expiration date before the Earliest Exercise Time shall be deemed to have been received by the Earliest Exercise Time on the expiration date.
(2) The buyer of an American Securities Option is entitled to exercise such option on any Scheduled Trading Day during the Exercise Period, in each case as of the Earliest Exercise Time up to the Latest Exercise Time. Any declaration of the exercise of an option which the seller receives on a Scheduled Trading Day before the Earliest Exercise Time shall be deemed to have been received by the Earliest Exercise Time on the relevant Scheduled Trading Day. A declaration of the exercise of the option received on a Scheduled Trading Day after the Latest Exercise Time shall be deemed to have been received by the Earliest Exercise Time on the immediately following Scheduled Trading Day.
(3) The buyer of a Bermuda Securities Option is entitled to exercise this option on each agreed Exercise Day and on the Expiration Date, in each case as of the Earliest Exercise Time up to the Latest Exercise Time. Any declaration of the exercise of an option which the seller receives on an Agreed Exercise Day or on the expiration date, in each case before the Earliest Exercise Time, shall be deemed to have been received at the Earliest Exercise Time on the relevant Agreed Exercise Day or the expiration date. In all other cases it shall be deemed that there has not been any declaration of the exercise of an option.
(4) In the event of a market disruption on the Expiration Date or an Agreed Exercise Day, Clause 11 shall apply subject to the proviso that the expiration date or the Agreed Exercise Day shall be postponed to the first Scheduled Trading Day following the end of market disruption. In case the market disruption persists for more than eight consecutive Scheduled Trading Days, the eighth Scheduled Trading Day shall be deemed to be the expiration date or Agreed Exercise Day, and, in case of the exercise of the option, the Valuation Date. In case of the exercise of the Securities Option, there shall not be any further postponement of the Valuation Date because of market disruptions.
(5) In the event “Partial Exercise“ has been agreed upon in t...