Common use of Exercise of Option and Deadline Clause in Contracts

Exercise of Option and Deadline. The Holder of an Option may exercise its rights under the Option (in accordance with § 5.4 (Notice of Exercise)) by giving the Writer irrevocable notice of such Exercise during the Exercise Period. Unless otherwise agreed in the Election Sheet, if no Exercise Deadline is specified in an Individual Contract for an Option, the Exercise Deadline shall be 1700 hours on the fifth Business Day prior to commencement of the Total Supply Period under such Individual Contract.

Exercise of Option and Deadline. The Holder of an Option may exercise its rights under the Option (in accordance with § 5.4 (Notice of Exercise)) by giving the Writer irrevocable notice of such Exercise during the Exercise Period. Unless otherwise agreed agreed, if, in the Election Sheet, if respect of an Individual Contract no Exercise Deadline is specified in an Individual Contract for respect of an Option, the Exercise Deadline shall be 1700 hours on the fifth Business Day prior to commencement of the Total Supply Period under such Individual Contract10:00 am CET.