Common use of Condition Precedent to Exercise Clause in Contracts

Condition Precedent to Exercise. The Right of Repurchase shall be exercisable with respect to any Restricted Shares only during the 60-day period next following the later of: (i) The date when the Optionee's Service terminates for any reason, with or without cause, including (without limitation) death or disability; or (ii) The date when such Restricted Shares were purchased by the Optionee, the executors or administrators of the Optionee's estate or any person who has acquired this option directly from the Optionee by bequest, inheritance or beneficiary designation.

Appears in 5 contracts

Samples: Stock Option Agreement (Opnext Inc), Stock Option Agreement (Cisco Systems Inc), Stock Option Agreement (Siebel Systems Inc)

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Condition Precedent to Exercise. The Unvested Repurchase Right of Repurchase shall be exercisable with respect to any Restricted Shares only during the 60-day period next following the later of: (i) The date when the Optionee's Service terminates for any reason, with or without cause, including (without limitation) death or disability; or (ii) The date when such Restricted Shares were purchased by the Optionee, the executors or administrators of the Optionee's estate or any person who has acquired this option directly from the Optionee by bequest, inheritance or beneficiary designation.

Appears in 2 contracts

Samples: Stock Option Agreement (Jeanty Roger O), Stock Option Agreement (Jeanty Roger O)

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Condition Precedent to Exercise. The Right of Repurchase with respect to particular Restricted Shares shall be exercisable with respect to any Restricted Shares only during the 60-day period next following the later of: (i) The date when the Optionee's ’s Service terminates for any reason, with or without cause, including (without limitation) Cause or upon death or disabilityDisability; or (ii) The date when such Restricted Shares were purchased by the Optionee, the executors or administrators of the Optionee's estate or any person who has acquired this option directly from the Optionee by bequest, inheritance or beneficiary designationare issued.

Appears in 1 contract

Samples: Stock Option Agreement (Comverge, Inc.)

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