Method of Exercise; Fractional Shares. (a) This Warrant is exercisable at the option of the Holder at any time by surrendering this Warrant, on any business day during the period (the “Exercise Period”) beginning the business day after the issue date of this Warrant specified above and ending at 5:00 p.m. (New York time) four (4) years after the issue date. To exercise this Warrant, the Holder shall surrender this Warrant at the principal office of the Corporation or that of the duly authorized and acting transfer agent for its Common Stock, together with the executed exercise form (substantially in the form of that attached hereto) and together with payment for the Common Stock purchased under this Warrant. The principal office of the Corporation is located at the address specified in Section 1 of this Warrant; provided, however, that the Corporation may change its principal office upon notice to the Holder. Payment shall be made by check payable to the order of the Corporation or by wire transfer. This Warrant is not exercisable with respect to a fraction of a share of Common Stock. In lieu of issuing a fraction of a share remaining after exercise of this Warrant as to all full shares covered by this Warrant, the Corporation shall either at its option (a) pay for the fractional share cash equal to the same fraction at the fair market price for such share; or (b) issue scrip for the fraction in the registered or bearer form which shall entitle the Holder to receive a certificate for a full share of Common Stock on surrender of scrip aggregating a full share.
(b) In lieu of cash exercising this Warrant, the Holder may elect to receive Common Stock equal to the value of this Warrant (or the portion thereof being canceled) by surrender of this Warrant at the principal office of the Corporation together with notice of such election, in which event the Corporation shall issue to the Holder a number of shares of Common Stock computed using the following formula: X = A Where:
Method of Exercise; Fractional Shares. The purchase rights represented by this Warrant are exercisable at the option of the registered owner in whole at any time, or in part, from time to time, within the period above specified, provided, however, that purchase rights are not exercisable with respect to a fraction of a share of Common Stock. In lieu of issuing a fraction of a share remaining after exercise of this Warrant as to all full shares covered hereby, the Corporation shall either (1) pay therefor cash equal to the same fraction of the then current Warrant purchase price per share or, at its option, (2) issue scrip for the fraction, in registered or bearer form approved by the board of directors of the Corporation, which shall entitle the holder to receive a certificate for a full share of Common Stock on surrender of scrip aggregating a full share. Scrip may become void after a reasonable period (but not less than six months after the expiration date of this Warrant) determined by the board of directors and specified in the scrip. In case of the exercise of this Warrant for less than all the shares purchasable, the Corporation shall cancel the Warrant and execute and deliver a new Warrant of like tenor and date for the balance of the shares purchasable.
Method of Exercise; Fractional Shares. The purchase rights represented by this Warrant are exercisable at the option of the registered owner in whole at any time, or in part, from time to time, within the period specified above; provided, however, that purchase rights are not exercisable with respect to a fraction of a share of Common Stock. In lieu of issuing a fraction of a share remaining after exercise of this Warrant as to all full shares covered hereby, the Corporation shall either (1) pay therefor cash equal to the same fraction of the then current Warrant purchase price per share or, at its option, (2) issue scrip for the fraction, in registered or bearer form approved by the board of directors of the Corporation, which shall entitle the holder to receive a certificate for a full share of Common Stock on surrender of scrip aggregating a full share. Scrip may become void after a reasonable period (but not less than six months after the expiration date of this Warrant) determined by the board of directors and specified in the scrip. In case of the exercise of this Warrant for less than all the shares purchasable, the Corporation shall cancel this Warrant and execute and deliver a new Warrant of like tenor and date for the balance of the shares purchasable hereunder.
Method of Exercise; Fractional Shares. The purchase rights represented by this Warrant are exercisable at the option of the registered owner in whole at any time, or in part, from time to time, within the period specified above; provided, however, that purchase rights are not exercisable with respect to a fraction of a share of Common Stock. In lieu of issuing a fraction of a share remaining after exercise of this Warrant as to all full shares covered hereby or scrip, the Corporation shall pay therefor cash equal to the same fraction of the then current Warrant purchase price per share. In case of the exercise of this Warrant for less than all the shares purchasable, the Corporation shall cancel this Warrant and execute and deliver a new Warrant of like tenor and date for the balance of the shares purchasable hereunder.
Method of Exercise; Fractional Shares. The purchase rights represented by this Warrant are exercisable at the option of the Registered Owner within 60 days upon receipt of written notice from the Corporation and holder shall have the right to exercise this Warrant when written demand is received from the Corporation, provided, however, that purchase rights are not exercisable with respect to a fraction of a share of Common Stock. In lieu of issuing a fraction of a share remaining after exercise of this Warrant as to all full shares covered hereby, the Corporation shall either (a) pay therefor cash equal to the same fraction of the then current Warrant purchase price per share or, at its option, (b) issue scrip for the fraction, in registered or bearer form approved by the Board of Directors of the Corporation, which shall entitle the holder to receive a certificate for a full share of Common Stock on surrender of scrip aggregating a full share. Scrip may become void after a reasonable period (but not less than six months after the expiration date of this Warrant) determined by the Board of Directors and specified in the scrip. In case of the exercise of this Warrant for less than all the shares available for purchase, the Corporation shall cancel the Warrant and execute and deliver a new Warrant of like tenor and date for the balance of the shares purchasable.
Method of Exercise; Fractional Shares. This Warrant is exercisable at the option of the Holder, in increments of 5,000 shares only, at any time by surrendering this Warrant, on any business day during the period (the “Exercise Period”) beginning the business day after the issue date of this Warrant specified above and ending at 5:00 p.m. (New York time) on June 30, 2007. To exercise this Warrant, the Holder shall surrender this Warrant at the principal office of the Corporation or that of the duly authorized and acting transfer agent for its Common Stock, together with the executed exercise form (substantially in the form of that attached hereto) and together with payment for the Common Stock purchased under this Warrant for the Warrant Shares specified in the executed exercise form. The principal office of the Corporation is located at the address specified on the signature page of this Warrant; provided, however, that the Corporation may change its principal office upon notice to the Holder. Payment shall be made by check payable to the order of the Corporation or by wire transfer. This Warrant is not exercisable with respect to a fraction of a share of Common Stock. In lieu of issuing a fraction of a share remaining after exercise of this Warrant as to all full shares covered by this Warrant, the Corporation shall either at its option (a) pay for the fractional share cash equal to the same fraction at the fair market price for such share; or (b) issue scrip for the fraction in the registered or bearer form which shall entitle the Holder to receive a certificate for a full share of Common Stock on surrender of scrip aggregating a full share.
Method of Exercise; Fractional Shares. This Warrant is exercisable at the option of the Holder at any time by surrendering this Warrant, on any business day during the period (the “Exercise Period”) beginning the business day after the issue date of this Warrant specified above and ending at 5:00 p.m. (New York time) Five (5) year(s) after the issue date. This Warrant may not be exercised for fewer than 5,000 shares per exercise, as adjusted to reflect stock dividends, stock splits, and other comparable changes. To exercise this Warrant, the Holder shall surrender this Warrant at the principal office of the Corporation or that of the duly authorized and acting transfer agent for its Common Stock, together with the executed exercise form (substantially in the form of that attached hereto) and together with payment for the Common Stock purchased under this Warrant. The principal office of the Corporation is located at the address specified on the signature page of this Warrant; provided, however, that the Corporation may change its principal office upon notice to the Holder. Payment shall be made by check payable to the order of the Corporation or by wire transfer. This Warrant is not exercisable with respect to a fraction of a share of Common Stock. In lieu of issuing a fraction of a share remaining after exercise of this Warrant as to all full shares covered by this Warrant, the Corporation shall either at its option (a) pay for the fractional share cash equal to the same fraction at the fair market price for such share; or (b) issue scrip for the fraction in the registered or bearer form which shall entitle the Holder to receive a certificate for a full share of Common Stock on surrender of scrip aggregating a full share.
Method of Exercise; Fractional Shares. The right to purchase the Option Shares pursuant to this Article is exercisable at the option of the Purchaser only in whole and only during the one year period commencing on the Effective Date. The right to purchase the Option Shares shall be exercisable only after the Purchaser shall have satisfied its obligations under Section 2.1 of this Agreement. The Purchaser shall be required to provide MEEMIC Holdings with written notice of its irrevocable election to purchase the Option Shares pursuant to Section 3.1. After such notice is provided to MEEMIC Holdings, the Purchaser and MEEMIC Holdings shall mutually agree upon a date, which date shall be not later than twenty (20) calendar days after such notice is provided to MEEMIC Holdings, for the issuance of the Option Shares to the Purchaser (the "Issuance Date for Option Shares"). On the Issuance Date for Option Shares, the Option Shares shall be issued to the Purchaser and the Purchaser shall pay for the Option Shares as determined by Section 3.1 of this Agreement.
Method of Exercise; Fractional Shares. The purchase rights represented by this Warrant, as adjusted from time to time pursuant to the terms hereof, are exercisable at the election of the Registered Owner in whole or in part at any time, or from time to time, on any business day on or prior to the Expiration Date, by surrendering this Warrant at the principal office of the Company, together with the attached Exercise Form duly completed and executed, together with payment for all Shares purchased under this Warrant. The address of the principal office of the Company is 0000 Xxxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxx 00000, or such other address as the Company may designate in writing to the Registered Owner at the address of such owner appearing on the books of the Company. At the option of the Registered Owner, payment shall be made in cash, by certified or bank cashier's check payable to the order of the Company. The purchase rights represented by this Warrant may be exercised for less than the full number of Shares covered by this Warrant. Upon a partial exercise, this Warrant shall be surrendered, and the Company shall issue to the Registered Owner a new Warrant of the same class and tenor representing the right to purchase the number of Shares not purchased upon such partial exercise and any previous exercises of the purchase rights represented hereby. The purchase rights represented hereby may not be exercised with respect to less than a full Share.
Method of Exercise; Fractional Shares. This Warrant is exercisable at the option of Holder in whole at any time or in part from time to time on any business day during the period (the “Exercise Period”) beginning on January 1, 2004 and ending on December 31, 2008 at 5:00 p.m., Houston, Texas time. This Warrant may be exercised only by the surrender of this Warrant during the Exercise Period at the principal office of the Corporation or that of the transfer agent for the Common Stock, together with the executed exercise form (attached hereto), together with payment for the Shares purchased under this Warrant. The principal office of the Corporation is located at the address specified on the signature page of this Warrant; provided, however, that the Corporation may change its principal office upon notice to Holder. Payment for the Shares shall be made either in cash or by bank cashier’s check payable to the order of the Corporation. Upon the partial exercise of this Warrant, the Corporation shall issue to Holder a new Warrant of like tenor for the number of Shares not purchased upon such partial exercise and any previous exercises. This Warrant is not exercisable with respect to a fraction of a Share. In lieu of issuing a fraction of a Share remaining after exercise of this Warrant as to all full Shares covered by this Warrant, the Corporation shall pay for the fractional Share cash equal to the same fraction at the Exercise Price for such Share.
