Common use of Cashless Payment Clause in Contracts

Cashless Payment. The Company, in its sole discretion, may allow Director to use Common Stock of the Company owned by him to pay the purchase price for the Option Shares (and any required withholding taxes) by delivery of stock certificates in negotiable form which are effective to transfer good and valid title thereto to the Company, free of any liens or encumbrances. Shares of Common Stock used for this purpose shall be valued at the Fair Market Value, as defined below.

Cashless Payment. The Company, in its sole discretion, may allow Director Employee to use Common Stock of the Company owned by him to pay the purchase price for the Option Shares (and any required withholding taxes) by delivery of stock certificates in negotiable form which that are effective to transfer good and valid title thereto to the Company, free of any liens or encumbrances. Shares of Common Stock used for this purpose shall be valued at the Fair Market Value, as defined belowValue on the last trading day preceding the date of exercise.

Cashless Payment. The Company, in its sole discretion, may allow Director Employee to use Common Stock of the Company owned by him or her to pay the purchase price for the Option Shares (and any required withholding taxes) by delivery of stock certificates in negotiable form which that are effective to transfer good and valid title thereto to the Company, free of any liens or encumbrances. Shares of Common Stock used for this purpose shall be valued at the Fair Market Value, as defined belowValue on the last trading day preceding the date of exercise.

Cashless Payment. The Company, in its sole discretion, may allow the Director to use Common Stock of the Company owned by him or her to pay the purchase price for the Option Shares (and any required withholding taxes) by delivery of stock certificates in negotiable form which that are effective to transfer good and valid title thereto to the Company, free of any liens or encumbrances. Shares of Common Stock used for this purpose shall be valued at the Fair Market Value, as defined belowValue on the last trading day preceding the date of exercise.