Common use of WM Option Clause in Contracts

WM Option. For purposes of applying the commitment made in Section 2.1 WMX shall not be deemed to beneficially own any shares which are subject to the WM Option until and unless such shares are actually issued. No exercise of the WM Option shall be deemed to violate Section 2.1 regardless of whether WMX shall beneficially own more than the Permitted Number of ServiceMaster shares after such exercise. Nothing in this Agreement shall prevent or limit the right of WMX to exercise the WM Option to the extent WMX is permitted to do so under the terms of the Option Agreement pursuant to which the WM Option was granted.