Common use of Notice of Exercise/Payment of Purchase Price Clause in Contracts

Notice of Exercise/Payment of Purchase Price. Subject to the terms and conditions of this Agreement, the Option Right may be exercised by written notice to the Secretary of the Company, at the Company's main office, or at such other address as the Company, by written notice to Optionee, may designate from time to time. Such notice shall state the election to exercise the Option Right and the number of Common Shares in respect of which the Option Right is being exercised, and shall be signed by the person or persons exercising the Option Right. Such notice shall be accompanied by payment of the full purchase price of such Common Shares, by cashier's or certified check, or by such other form of consideration, if any, as may be approved by the Board.