EXERCISE OF THE SHARE OPTION. No portion of the Share Option may be exercised until such portion vests. Each election to exercise any vested portion of the Share Option will be subject to the terms and conditions of the Plan and must be in written or electronic form acceptable to the Administrator, signed (including by electronic signature) by the Participant or, if at the relevant time the Share Option has passed to a permitted transferee, the permitted transferee. Each such written or electronic exercise election must be received by the Company at its principal office or by such other party as the Administrator may prescribe and be accompanied by payment in full of the exercise price by cash or check, through a broker-assisted exercise program acceptable to the Administrator, or as otherwise provided in the Plan, and the Participant must also execute any additional documents that the Administrator determines in its sole discretion in order to effectuate such exercise. The latest date on which the Share Option will terminate or any vested portion thereof may be exercised is the tenth (10th) anniversary of the Date of Grant (the “Expiration Date”) upon which, if not earlier terminated under the terms of the Plan or this Agreement, the Share Option or any remaining portion thereof will thereupon immediately terminate. The Company may require, as a condition to the exercise of the Share Option or the issuance of Shares thereunder, such representations or agreements as counsel for the Company may consider appropriate to avoid violation of the Securities Act of 1933, as amended, or any other Applicable Laws. No Shares will be issued pursuant to this Agreement unless and until all legal requirements applicable to the issuance or transfer of such Shares have been complied with to the satisfaction of the Company.
EXERCISE OF THE SHARE OPTION. 7.01 The Share Option may be exercised by the Optionee in accordance with the provisions hereof in whole or in part, from time to time, by delivery of written notice of such exercise and by tendering the payment therefor in cash or by certified cheque to the Corporation at its principal office or registered office in the City of Calgary, in the Province of Alberta. Such notice shall state the number of the Option Shares with respect to which the Share Option is then being exercised. The Share Option shall be deemed for all purposes to have been exercised to the extent stated in such notice upon delivery of the notice and a tender of payment in full, notwithstanding any delay in the issuance and delivery of the certificates for the Shares so purchased.
EXERCISE OF THE SHARE OPTION. No portion of the Share Option may be exercised until such portion vests. Each election to exercise any vested portion of the Share Option will be subject to the terms and conditions of the Plan and must be in written or electronic form acceptable to the Administrator, signed (including by electronic signature) by the Participant or, if at the relevant time the Share Option has passed to the estate or beneficiary of the Participant or a permitted transferee, by such estate or beneficiary or permitted transferee. Each such written or electronic exercise election must be received by the Company at its principal office or at such other place or by such other party as the Administrator may prescribe and must be accompanied by payment in full of the exercise price (i) in cash, by wire transfer of immediately available funds or by check, (ii) through a broker-assisted exercise program, as described in Section 6(b)(3) of the Plan and otherwise acceptable to the Administrator, or (iii) as otherwise provided in the Plan. Subject to earlier termination as set forth herein or in the Plan (including Section 6(a)(4) of the Plan), the latest date on which the Share Option or any portion thereof may be exercised is the tenth (10th) anniversary of the Date of Grant (the “Final Exercise Date”) and, if not exercised by such date, the Share Option or any remaining portion thereof will thereupon immediately terminate.
EXERCISE OF THE SHARE OPTION. 7.1 The Share Option may be exercised by the Executive in accordance with the provisions hereof in whole or in part, from time to time, by delivery of written notice of such exercise and by tendering the payment therefor in cash or by certified cheque to the Corporation at its principal office in the City of Houston, in the State of Texas. Such notice shall state the number of the Option Shares with respect to which the Share Option is then being exercised. The Share Option shall be deemed for all purposes to have been exercised to the extent stated in such notice upon delivery of the notice and a tender of payment in full, notwithstanding any delay in the issuance and delivery of the certificates for the Shares so purchased.
EXERCISE OF THE SHARE OPTION. 8.01 The Share Option may be exercised by the Optionee in accordance with the Plan and the provisions hereof, from time to time, by delivery of written notice of such exercise, substantially in the form attached hereto, and payment therefor by cash or certified cheque to the Corporation at its principal office or registered office in the City of Calgary, in the Province of Alberta. Such notice shall state the number of the Option Shares with respect to which the Share Option is then being exercised. The Share Option shall be deemed for all purposes to have been exercised to the extent stated in such notice upon delivery of the notice and a tender of payment in full, notwithstanding any delay in the issuance and delivery of the certificates for the Shares so purchased. In the event that there should be a reduction of the exercise price for the Share Option granted hereunder, prior to such amendment in the exercise price becoming effective, the approval of “disinterested” shareholders of the Corporation shall be obtained for the reduction of the exercise price; provided, however, that such “disinterested” shareholder approval is then a requirement of any stock exchange on which the Shares are then listed or other regulatory body having jurisdiction.
8.02 As soon as practicable after exercise of the Share Option, the Corporation shall cause to be delivered to the Optionee or to the Optionee’s legal personal representative, or as otherwise directed in the notice of exercise, a certificate or certificates in the name of such person representing the number of Shares in respect of which the Share Option has been exercised; provided that the Corporation’s obligation to issue or deliver the Shares under the Share Option is subject to such compliance by the Corporation and the Optionee, or his or her legal personal representative, as the Corporation deems necessary or advisable under all laws, rules and regulations applying to the authorization, issuance, listing or sale of securities, and such obligation is also subject, if applicable, to the acceptance for listing of the Shares to be issued upon exercise of the Share Option by each stock exchange upon which the Corporation’s securities are then listed for trading. Nothing herein contained or done pursuant hereto shall obligate the Optionee to purchase and or pay for any Shares except those Shares in respect of which the Share Option shall have been exercised as hereinbefore provided.
EXERCISE OF THE SHARE OPTION. 7.01 The Share Option may be exercised by the Optionee in accordance with the provisions hereof in whole or in part, from time to time, by delivery of written notice of such exercise and by tendering the payment therefor in cash or by certified cheque to the Corporation at its principal office in the City of Winnipeg, in the Province of Manitoba. Such notice shall state the number of the Option shares with respect to which the Share Option is then being exercised. The Share Option shall be deemed for all purposes to have been exercised to the extent stated in such notice upon delivery of the notice and tender of payment in full, not withstanding any delay in the issuance and delivery of the certificates for the Shares so purchased.
EXERCISE OF THE SHARE OPTION. 8.1 Subject to the vesting provision set forth in the Plan and Clause 3.2, the Share Option may be exercised by the Optionee in accordance with the provisions hereof in whole or in part, from time to time, by delivery of written notice of such exercise and by tendering the full payment therefore in cash or by certified cheque or by bank draft to the Corporation at its head office in the City of Vancouver, in the Province of British Columbia. Such notice shall state the number of the Option Shares with respect to which the Share Option is then being exercised. The Share Option shall be deemed for all purposes to have been exercised to the extent stated in such notice upon delivery of the notice and a tender of payment in full, notwithstanding any delay in the issuance and delivery of the certificates for the Common Shares so purchased.
EXERCISE OF THE SHARE OPTION. 3.1 The Share Option shall be exercisable one or more times (on one or more days) by the Option Holder giving to each Option Grantor a Trigger Notice in accordance with this Agreement:
3.1.1 on any Business Day during the Exercise Period; or
3.1.2 if an Early Trigger Event has occurred, on any Business Day on or prior to the Second Secured Discharge Date.
3.2 Each Trigger Notice shall set out:
3.2.1 the amount of the Converted Loan Amount (being the portion of the Second Secured Outstandings that is requested to be deemed repaid through the transfer of PMG Share(s));
3.2.2 the aggregate nominal value of the portion of the PMG Share(s) to be transferred (which shall be calculated in accordance with Clause 4.1);
3.2.3 (if there is at that time more than one holder of PMG Share(s)) the nominal value of the portion of the PMG Share(s) to be transferred by each Option Grantor (which shall be calculated in accordance with Clause 4.2);
3.2.4 the Transferee to which those PMG Share(s) shall be transferred (which may be the Option Holder, a Second Secured Lender or any third party); and
3.2.5 which Second Secured Lender's participation in the Second Secured Outstandings will be reduced and deemed repaid on transfer of the Exercised Share(s).
3.3 Upon an exercise of the Share Option, each Option Grantor shall in collaboration with the relevant Transferee without undue delay (OHNE SCHULDHAFTES ZOGERN), and in any event not later than 10 Business Days following the delivery of the Trigger Notice (or such later date as the Option Holder agrees), effect the transfer of the Exercised Share(s) (together with all ancillary rights pertaining thereto, including dividend rights for the entire fiscal year in which the Share Option is exercised and all rights to undistributed profits) to the relevant Transferee, by execution and notarisation of a Deed of Transfer.
3.4 If at the Exercise Date the acquisition of the Exercised Share(s) would require the approval of the Merger Control Authorities, the transfer of the Exercised Share shall be executed and notarised nevertheless but the transfer shall be conditional upon the grant of such approval. PAG and the Transferee should cooperate in good faith to obtain such approval in the shortest time as possible. The exercise of the Share Option will not be completed, and the corresponding reduction in the Second Loan Outstandings will not take place, until such transfer is unconditionally completed.
3.5 PMG shall take any steps required ...
EXERCISE OF THE SHARE OPTION. No portion of the Share Option may be exercised until such portion vests. Each election to exercise any vested portion of the Share Option shall be subject to the terms and conditions of the Plan and this Agreement and must be in written or electronic form acceptable to the Administrator, signed (including by electronic signature) by the Optionee (or in such other form as is acceptable to the Administrator). Each such written or electronic exercise election must be received by the Company at its principal office or by such other party as the Administrator may prescribe and be accompanied by payment in full of the exercise price and related taxes as provided in the Plan. The latest date on which the Share Option or any portion thereof may be exercised is the 10th anniversary of the Date of Grant (the “Final Exercise Date”) and, if not exercised by such date, the Share Option or any remaining portion thereof shall thereupon immediately terminate for no consideration.
EXERCISE OF THE SHARE OPTION. EXERCISED SHARE(S) AND CONSIDERATION...........................................................5 5
