Common use of Exercise of Put Options Clause in Contracts

Exercise of Put Options. During the period beginning at the Open of Business on the Determination Date and ending at the Close of Business on the Expiration Date, the Holder shall be entitled to exercise, in accordance with this ‎Article 3, the full Number of Put Options or any portion thereof (which shall not include any fractional Put Options) by delivering a duly completed and executed Exercise Notice to the Seller; provided that the Holder shall not be entitled to deliver more than one Exercise Notice to the Seller. Any Put Options not exercised prior to the Close of Business on the Expiration Date shall expire unexercised. The date on which the Holder complies with the requirements for exercise set forth in this ‎Section 3.01 in respect of one or more Put Options is the “Exercise Date” for such Put Options. However, if such date is not a Trading Day or the Holder satisfies such requirements after the Close of Business on a Trading Day, then the Exercise Date shall be the immediately succeeding Trading Day. The Seller shall notify the Holder, not later than the Open of Business on the Determination Date of the Number of Put Options.