EFFECT OF EXERCISE OF CALL OPTION Sample Clauses

EFFECT OF EXERCISE OF CALL OPTION. Upon receipt of the Call Option by the Vendor, the Purchasing Shareholder shall be obligated to purchase from the Vendor and the Vendor shall be obligated to sell to the Purchasing Shareholder, all of the Common Shares owned by the Deceased Shareholder as at the date of such Deceased Shareholder’s death, upon the terms and conditions hereinafter set forth.
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EFFECT OF EXERCISE OF CALL OPTION. Upon receipt of the Call Option by the Surviving Spouse, the Corporation shall be obligated to purchase from the Surviving Spouse and the Surviving Spouse shall be obligated to sell to the Corporation, all the Common Shares owned by the Deceased Shareholder as at the date of the Deceased Shareholder’s death, upon the terms and conditions hereinafter set forth.
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EFFECT OF EXERCISE OF CALL OPTION. 4.1 On the date of effective and valid exercise of the Call Option by the Purchaser (or the Eligible Nominee, as the case may be) the Purchaser (or the Eligible Nominee, as the case may be) shall be irrevocably bound to enter into the Contract. 4.2 The Contract will only become binding on the Vendor if Quantum provides the Purchaser (or the Eligible Nominee, as the case may be) with a copy of the Contract executed by the Vendor. 4.3 On the Call Option becoming binding on both the Vendor and the Purchaser (or the Eligible Nominee, as the case may be) the parties will for all purposes be deemed to have entered into a binding and enforceable agreement for the respective sale and purchase of the Property subject to and upon the terms and conditions of the Contract. 5.1 The Purchaser must not sell transfer or otherwise alienate any of its interest, obligations, powers or rights contained in this deed during the currency of this deed unless permitted under clause 6. 5.2 If the Purchaser commits any breach of clause 5.1 by doing or attempting to do any of the acts referred to in clause 5.1 then both the following apply: 5.2.1 The Vendor will be entitled (but not obliged) by notice in writing served on the Purchaser to terminate this deed and the Purchaser will forfeit the Call Option Fee to the Vendor. 5.2.2 The Vendor will be entitled to disregard and treat as null and void any purported exercise of the Call Option by the Purchaser (or any transferee or person claiming under or through the Purchaser).
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EFFECT OF EXERCISE OF CALL OPTION. Upon the closing of the purchase of the Membership Interests pursuant to the Call Option, the Investor Members shall cease to be Members of the Company, and shall have no further rights, liabilities, or obligations under this Agreement, except for those obligations that by their terms survive the termination of Membership.
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Related to EFFECT OF EXERCISE OF CALL OPTION

  • Effect of Exercise of Warrants (1) Upon compliance by the Warrantholder with the provisions of Section 3.1, the Warrant Shares subscribed for shall be deemed to have been issued and the person to whom such Warrant Shares are to be issued shall be deemed to have become the holder of record of such Warrant Shares on the Exercise Date unless the transfer registers of the Company for the Common Shares shall be closed on such date, in which case the Warrant Shares subscribed for shall be deemed to have been issued and such person shall be deemed to have become the holder of record of such Warrant Shares on the date on which such transfer registers are reopened. (2) The Warrant Agent shall as soon as practicable account to the Company with respect to Warrants exercised, and shall as soon as practicable forward to the Company (or into an account or accounts of the Company with the bank or trust company designated by the Company for that purpose), all monies received by the Warrant Agent on the subscription of Warrant Shares through the exercise of Warrants. All such monies and any securities or other instruments, from time to time received by the Warrant Agent, shall be received in trust for the Warrantholders and the Company as their interests may appear and shall be segregated and kept apart by the Warrant Agent. (3) Within five Business Days following the due exercise of a Warrant pursuant to Section 3.1, the Company shall cause the Transfer Agent to issue and the Warrant Agent to deliver, within such five Business Day period, to CDS through the Book-Entry Only System the Warrant Shares to which the exercising Warrantholder is entitled pursuant to the exercise or mail to the person in whose name the Warrant Shares so subscribed for are to be issued, as specified in the exercise form completed on the Warrant Certificate, at the address specified in such exercise form, a certificate or certificates for the Warrant Shares to which the Warrantholder is entitled or, if so specified in writing by the holder, cause to be delivered to such person or persons at the office of the Warrant Agent where the Warrant Certificate was surrendered, a certificate or certificates for the appropriate number of Warrant Shares subscribed for, or any other appropriate evidence of the issuance of Warrant Shares to such person or persons in respect of Warrant Shares issued under the Book-Entry Only System and, if applicable, shall cause the Warrant Agent to mail a Warrant Certificate representing any Warrants not then exercised.

  • Right of Exercise Subject to the provisions hereof, each Registered Warrantholder may exercise the right conferred on such holder to subscribe for and purchase one (1) Common Share for each Warrant after the Issue Date and prior to the Expiry Time and in accordance with the conditions herein.

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