Common use of Exercise Process Clause in Contracts

Exercise Process. In order to exercise its Option Right during the Option Period, the Optionee must deliver to the Grantor a written notice of such exercise substantially in the form attached hereto as Exhibit B (the “Exercise Notice”) to the address or facsimile number set forth therein. Provided the Exercise Notice is delivered in accordance with SECTION 5.2. to the Grantor on or prior to 5:00 p.m. (Hong Kong time) on a Business Day, the date of exercise (the “Exercise Date”) of the Option Right will be the date of such delivery of such Exercise Notice. In the event the Exercise Notice is delivered after 5:00 p.m. (Hong Kong time) on any day or on a date which is not a Business Day, the Exercise Date will be deemed to be the first Business Day after the date of such delivery of such Exercise Notice. The delivery of an Exercise Notice in accordance herewith will constitute a binding obligation (a) on the part of the Optionee to purchase and (b) on the part of the Grantor to sell, the Option Shares which are the subject of such Exercise Notice in accordance with the terms of this Agreement. The Option Right shall be exercisable only in compliance with all applicable Laws. The Optionee shall undertake any and all approval or registration procedures with the relevant Governmental Bodies that may arise out of or in connection with the exercise of the Option Right in accordance with applicable Laws.

Exercise Process. In order to exercise its Option Right during the Option Period, the an Optionee must deliver to the Grantor a written notice of such exercise substantially in the form attached hereto as Exhibit B (the “Exercise Notice”) to the address or facsimile number set forth therein. Provided the Exercise Notice is delivered in accordance with SECTION 5.2. this Section 3.2 to the Grantor on or prior to 5:00 6:30 p.m. (Hong Kong New York time) on a Business Day, the date of exercise (the “Exercise Date”) of the Option Right will be the date of such delivery of such Exercise Notice. In the event the Exercise Notice is delivered after 5:00 6:30 p.m. (Hong Kong time) on any day or on a date which is not a Business Day, the Exercise Date will be deemed to be the first Business Day after the date of such delivery of such Exercise Notice. The delivery of an Exercise Notice in accordance herewith will constitute a binding obligation (a) on the part of the exercising Optionee to purchase and (b) on the part of the Grantor to sell, the Option Shares which are the subject of such Exercise Notice in accordance with the terms of this Agreement. The Option Right shall be exercisable only in compliance with all applicable Laws. The Optionee shall undertake any and all approval or registration procedures with the relevant Governmental Bodies that may arise out of or in connection with the exercise of the Option Right in accordance with applicable Laws.