Issuance of Option Shares. Upon a valid exercise of this Option, the Company shall, or shall direct its transfer agent to, make delivery of the Option Shares as soon as reasonably possible; provided, however, that the Company shall not be required to issue or deliver any certificates for Option Shares pursuant to this Option prior to (a) the completion of any registration or qualification of such shares under any federal or state law, or any ruling or regulation of any governmental body which the Board shall, in its sole discretion, determine to be necessary or advisable, and/or (b) the Optionee making at the time of exercise any reasonable representations and warranties requested by the Company in order to qualify the issuance of the Option Shares for exemptions from registration under state or federal securities laws. The Option Shares issued on the exercise of this Option, when paid for as herein provided, will be fully paid and non-assessable.
Issuance of Option Shares. Upon such notice of exercise and payment of the Option Price, the Company shall issue and cause to be delivered within five (5) business days following the written order of Holder, or its successor as provided for herein, and in such name or names as the Holder may designate, a certificate or certificates for the number of Option Shares so purchased. The rights of purchase represented by the Option shall be exercisable, at the election of the Holder thereof, either in full or from time to time in part, and in the event the Option is exercised in respect of less than all of the Option Shares purchasable on such exercise at any time prior to the date of expiration hereof, the remaining Option Shares shall continue to be subject to adjustment as set forth in paragraph 4 hereof. The Company irrevocably agrees to reconstitute the Option Shares as provided herein.
Issuance of Option Shares. Upon receipt of notice of exercise and payment of the Option Price, the Company shall immediately cause the delivery of the Option Shares so purchased to Optionee, or in such name or names as Optionee may designate. In the event the Option is exercised in respect of less than all of the Option Shares purchasable on such exercise at any time prior to the date of expiration hereof, the remaining Option Shares shall continue to be subject to adjustment as set forth in paragraph 3 hereof.
Issuance of Option Shares. At the Option Closing, simultaneously with the payment of the Aggregate Exercise Price in the manner provided in Section 2(d) of this Agreement, the Company shall deliver to Purchaser a certificate or certificates representing the Option Shares purchased upon such exercise.
Issuance of Option Shares. No person shall be, or have any of the rights or privileges of, a holder of the Option Shares subject to the Option unless and until certificates representing such Option Shares shall have been issued and delivered to such person, such issuance, without limitation, being subject to the terms of the Plan.
Issuance of Option Shares. The Option Shares purchased will be issued to the Holder exercising this Option as of the close of business on the date on which all actions and payments required to be taken or made by Holder, pursuant to Section 3.1, have been taken or made. Certificates for the Option Shares so purchased will be delivered to the Holder within a reasonable time, not exceeding ten (10) days after this Option is surrendered.
Issuance of Option Shares. As promptly as practicable after receipt of such written notification of exercise and full payment of the Option Price and any required tax withholding, the Company shall issue or transfer to the Executive the number of Option Shares with respect to which the Option has been exercised (less shares withheld in satisfaction of tax withholding obligations, if any), and shall deliver to the Executive a certificate or certificates therefor, registered in the Executive's name.
Issuance of Option Shares. The Option Shares, or any part thereof, shall be Class B Shares which have been authorized but not previously issued or subscribed. The Option Shares, when issued and delivered pursuant to any exercise of the Option, shall be fully paid and nonassessable, subject to all the terms and conditions of this Agreement.
Issuance of Option Shares. Upon the exercise of the Option and upon the receipt by the Company of the payment for the shares of Common Stock pursuant to the exercise of the Option, the Company shall deliver or cause to be delivered, within a reasonable time, to the Executive exercising the Option a certificate or certificates for the number of shares of Common Stock with respect to which the Option is exercised. The shares of Common Stock shall be registered in the name of the exercising Executive or in such name jointly with the Executive as the Executive may direct in the written notice of exercise.
Issuance of Option Shares. On or as promptly as is practicable after the receipt of the Exercise Agreement, payment of the Exercise Price and satisfaction of applicable withholding requirements, the Company will issue the Option Shares registered in the name of the Grantee, the Grantee’s authorized assignee or the Grantee’s legal representative, as applicable, and, upon request, will deliver certificates representing the Option Shares with the appropriate legends affixed thereto. The Company may reasonably postpone the issuance of the Option Shares until it receives satisfactory proof that the issuance of such Option Shares will not violate any of the provisions of the Securities Act or the Exchange Act, any rules or regulations of the Securities and Exchange Commission (“SEC”) promulgated thereunder, or the requirements of applicable state law relating to authorization, issuance or sale of securities, or until there has been compliance with the provisions of such acts or rules. Except as provided in the Employment Agreement, the Grantee understands that the Company is under no obligation to register or qualify the Option Shares with the SEC, any state securities commission or any securities exchange to effect such compliance. April 19, 2010
