Common use of Discharge and Termination of Options Clause in Contracts

Discharge and Termination of Options. Unless otherwise agreed, any Call Option or any Put Option written by a party will automatically be terminated and discharged, in whole or in part, as applicable, against a Call Option or a Put Option, respectively, written by the other party, such termination and discharge to occur automatically upon the payment in full of the last Premium payable in respect of such Options; provided that such termination and discharge may only occur in respect of Currency Options:

Discharge and Termination of Options. Unless otherwise agreed, any Call Option Any call option or any Put Option put option written by a party will automatically be terminated and discharged, in whole or in part, as applicable, against a Call Option call option or a Put Optionput option, respectively, written by the other party, such termination and discharge to occur automatically upon the payment in full of the last Premium premium payable in respect of such Optionsoptions; provided that such termination and discharge may occur only occur in respect of Currency Optionsoptions:

Discharge and Termination of Options. Unless otherwise agreed, any Call Option or any Put Option written by a party will automatically be terminated and discharged, in whole or in part, as applicable, against a Call Option or a Put OptionPut, respectively, written by the other party, such termination and discharge to occur automatically upon the payment in full of the last Premium payable in respect of such OptionsCurrency Option Transaction; provided provided, that such termination and discharge may only occur in respect of Currency OptionsOption Transactions with the same material terms, including but not limited to: