Terms of Exercise. Subject to the conditions hereinafter set forth, this Warrant may be exercised in whole at any time, or in part from time to time, by the Holder hereof, by the surrender of this Warrant, together with written instructions as to the number of shares to be purchased, at the principal office of the Company Weston, Florida or at such other office as the Company may designate by written notice to the Holder hereof within the above-mentioned period and upon payment to the Company of the aggregate Warrant Price (or the proportionate part thereof if exercised in part) for the shares so purchased in current funds. This Warrant and all rights hereunder shall expire and shall be null and void to the extent not exercised before this Warrant expires 25th of January 2020 (the “Expiration Date”).
Terms of Exercise. This Option shall be exercisable as to 80,000 Shares on March 1, 2002 and as to an additional 80,000 Shares on the first day of each month thereafter until the end of February, 2003 after which date it shall be exercisable as to all of 1,000,000 Shares (less any for which it has been exercised).As an example, on and after March 1, 2002 the Director may exercise this Option as to 80,000 Shares; on and after April 1, 2002 the Director may exercise this Option as to 160,000 Shares (less any Shares as to which the Director has already exercised this Option);and so on until the Director has either exercised this Option as to all of the 1,000,000 Shares or this Option has earlier lapsed,whichever first occurs. Subject to the other terms of this Agreement,as to any number of Shares for which this Option may then be exercised,this Option shall be exercisable at any time and from time to time in whole or in part until the end of the day on a date three (3) years from the date hereof, and upon the third anniversary of this agreement,this Option shall terminate as to any Shares which have not by then been purchased.
Terms of Exercise. Upon proper exercise of any vested portion of the SAR, the Awardee or the individual or entity authorized to exercise such SAR as provided herein shall be entitled to receive the excess of (i) the Fair Market Value of the specified number of SAR Shares as of the date of exercise (which shall be determined by multiplying the number of SAR Shares being exercised by the Fair Market Value of one Share on the date of exercise) over (ii) an amount equal to the Exercise Price Per Share multiplied by the number of SAR Shares being exercised. Such excess, if any, shall be paid either (x) in whole Shares, the number of which shall be determined using the Fair Market Value of one Share as of the date of exercise, disregarding any fractional shares or (y) in cash, with such method of payment to be determined by the Committee in its sole discretion from time to time.
Terms of Exercise. This Option may be exercised, in whole or in part, commencing on the earlier of (i) that date which is three (3) months after the closing of the Company's initial public offering or (ii) January 1, 1998. Notwithstanding the foregoing, the Optionee agrees not to sell, pledge, hypothecate, encumber, or otherwise dispose of the Shares for a period of twelve (12) months following the effective date of the Company's initial public offering, subject to earlier release at the discretion of the underwriter of such initial public offering.
Terms of Exercise. Upon exercise of any vested portion of the SAR in accordance with this Section 3, Employee or the individual, trust or entity authorized to exercise such SAR as provided herein (collectively, the “Exercisor”) shall be entitled to receive the excess of (i) the Fair Market Value of the specified number of SAR Shares as of the date of exercise (which shall be determined by multiplying the number of SAR Shares being exercised by the Fair Market Value of one share of Common Stock on the date of exercise) over (ii) an amount equal to the Exercise Price Per Share multiplied by the number of SAR Shares being exercised. Such excess, if any, shall be paid either (x) in whole shares of Common Stock, the number of which shall be determined using the Fair Market Value of one share of Common Stock as of the date of exercise, disregarding any fractional shares, or (y) in cash, with such method of payment to be determined by the Committee from time to time.
Terms of Exercise. [The Warrants may be exercised at any time [on or after ________] and prior to the close of business on the Expiration Date.] Firm Closing Date: [Time and date], ____ Closing Location: Black Out Period: [None] [For a period beginning at the time of execution of the Terms Agreement and ending 90 days thereafter, [the Company will not, directly or indirectly, offer, sell, contract to sell or otherwise dispose of Common Shares or securities representing, convertible into or exchangeable for, or any rights to purchase or acquire, Common Shares, other than (1) pursuant to its employee stock option and restricted stock plans or its directors' stock plan, each as in effect at the time of execution of the Terms Agreement, (2) pursuant arrangements made with respect to any person who becomes an employee of the Company, or (3) pursuant to the Junior Preferred Rights] [the Company will not, directly or indirectly, offer, sell, contract to sell or otherwise dispose of Preferred Shares, Depositary Shares or securities representing, convertible into or exchangeable for, or any rights to purchase or acquire, Preferred Shares or Depositary Shares, other than pursuant to the Junior Preferred Rights.]] [Insert terms, if other than as above] Names and addresses of Representatives: Address for Notices, etc.: [Other Terms](3) ------------------------
Terms of Exercise. Upon exercise of any vested portion of the Option in accordance with this Section 3, the Exercisor shall pay to the Company an amount equal to the Purchase Price multiplied by the number of Option Shares being exercised. As promptly as practicable after such exercise of the Option, the Company shall issue the specified number of shares of Common Stock to the Exercisor. Each exercised Option will be cancelled.
Terms of Exercise. Upon proper exercise of any vested portion of the SAR, the Awardee or the individual or entity authorized to exercise such SAR as provided herein shall be entitled to receive the excess of (i) the Fair Market Value of the specified number of SAR Shares as of the date of exercise (which shall be determined by multiplying the number of SAR Shares being exercised by the Fair Market Value of one Share on the date of exercise) over (ii) an amount equal to the Exercise Price Per Share multiplied by the number of SAR Shares being exercised. Such excess, if any, shall be paid in whole Shares, the number of which shall be determined using the Fair Market Value of one Share as of the date of exercise, disregarding any fractional shares. Such Shares shall be delivered to the Awardee or the individual or entity authorized to exercise such SAR as provided herein as soon as practicable following exercise of the SAR, but in no event later than 30 days following the date of exercise of the SAR.
Terms of Exercise. The Option granted herein may be exercised by Buyer in whole or in part at any time or times on or before 5:00 p.m. as set forth in 2 c). Buyer may exercise the Option from time to time by delivering to escrow agent the amounts set forth in 2 below net to Seller for each Share (the "Exercise Price") for which Buyer is exercising the Option. Payment shall be made to Seller by bankcheck or wire transfer. Upon receipt by Escrow Agent of Buyer's payment, Escrow Agent shall transfer from the number of Shares so purchased upon the exercise of the Option.
Terms of Exercise. Each Warrant shall entitle the holder ----------------- thereof to purchase one (1) Warrant Share upon payment of $.01 per share, each as adjusted as provided in Article 3. Such price, as in effect from time to time --------- as provided in Article 3, is referred to as the "Exercise Price." In no event --------- -------------- may Holder exercise any Warrant represented hereby (before or after any adjustment or substitution pursuant to Article 3 hereof) for a fraction of a --------- share.
