Common use of Notice of Exercise; Payment Clause in Contracts

Notice of Exercise; Payment. (a) To the extent then exercisable, the Option may be exercised in whole or in part by written notice to the Company stating the number of Option Shares for which the Option is being exercised and the intended manner of payment. The notice shall also state whether Optionee is exercising Tranche I Option Shares, Tranche II Option Shares or Tranche III Option Shares pursuant to such notice. The date of such notice shall be the exercise date. Payment equal to the aggregate Option Price of the Option Shares being purchased pursuant to an exercise of the Option must be tendered in full with the notice of exercise to the Company in one or both of the following methods as specified by Optionee in the notice of exercise: (i) cash in the form of currency or check or by wire transfer as directed by the Company, or (ii) through the surrender to the Company of shares of Common Stock owned by Optionee for at least six months as valued at their Market Value per Share on the date of exercise. (b) As soon as practicable upon the Company's receipt of Optionee's notice of exercise and payment, the Company shall direct the due issuance of the Option Shares so purchased. (c) As a further condition precedent to the exercise of this Option in whole or in part, Optionee shall comply with all regulations and the requirements of any regulatory authority having control of, or supervision over, the issuance of the shares of Common Stock and in connection therewith shall execute any documents which the Board shall in its sole discretion deem necessary or advisable.

Notice of Exercise; Payment. (a) To the extent then exercisable, the Option may be exercised in whole or in part by written notice to the Company stating the number of Option Shares for which the Option is being exercised and the intended manner of payment. The notice shall also state whether Optionee is exercising Tranche I Option Shares, Tranche II Option Shares or Tranche III Option Shares pursuant to such notice. The date of such notice shall be the exercise date. Payment equal to the aggregate Option Price of the Option Shares being purchased pursuant to an exercise of the Option must be tendered in full with the notice of exercise to the Company in one or both of the following methods as specified by Optionee in the notice of exercise: (i) cash in the form Employment Agreement - Xxxxxxx of currency or check or by wire transfer as directed by the Company, or (ii) through the surrender to the Company of shares of Common Stock owned by Optionee for at least six months as valued at their Market Value per Share on the date of exercise. (b) As soon as practicable upon the Company's receipt of Optionee's notice of exercise and payment, the Company shall direct the due issuance of the Option Shares so purchased. (c) As a further condition precedent to the exercise of this Option in whole or in part, Optionee shall comply with all regulations and the requirements of any regulatory authority having control of, or supervision over, the issuance of the shares of Common Stock and in connection therewith shall execute any documents which the Board shall in its sole discretion deem necessary or advisable.

Notice of Exercise; Payment. (a) To the extent then exercisable, the Option may be exercised in whole or in part by written notice to the Company stating the number of Option Shares for which the Option is being exercised and the intended manner of payment. The notice shall also state whether Optionee is exercising Tranche I Option Shares, Tranche II Option Shares or Tranche III Option Shares pursuant to such notice. The date of such notice shall be the exercise date. Payment equal to the aggregate Option Price of the Option Shares being purchased pursuant to an exercise of the Option must be tendered in full with the notice of exercise to the Company in one or both of the following methods as specified by Optionee in the notice of exercise: (i) cash in the form of currency or check or by wire transfer as directed by the Company, or (ii) through the surrender Employment Agreement - Xxxxx-Xxxxx to the Company of shares of Common Stock owned by Optionee for at least six months as valued at their Market Value per Share on the date of exercise. (b) As soon as practicable upon the Company's receipt of Optionee's notice of exercise and payment, the Company shall direct the due issuance of the Option Shares so purchased. (c) As a further condition precedent to the exercise of this Option in whole or in part, Optionee shall comply with all regulations and the requirements of any regulatory authority having control of, or supervision over, the issuance of the shares of Common Stock and in connection therewith shall execute any documents which the Board shall in its sole discretion deem necessary or advisable.

Notice of Exercise; Payment. (a) To the extent then exercisable, the Option may be exercised in whole or in part by written notice to the Company stating the number of Option Shares for which the Option is being exercised and the intended manner of payment. The notice shall also state whether Optionee is exercising Tranche I Option Shares, Tranche II Option Shares or Tranche III Option Shares pursuant to such notice. The date of such notice shall be the exercise date. Payment equal to the aggregate Option Price of the Option Shares being purchased pursuant to an exercise of the Option must be tendered in full with the notice of exercise to the Company in one or both of the following methods as specified by Optionee in the notice of exercise: (i) cash in the form Employment Agreement - Xxxxxxxx of currency or check or by wire transfer as directed by the Company, or (ii) through the surrender to the Company of shares of Common Stock owned by Optionee for at least six months as valued at their Market Value per Share on the date of exercise. (b) As soon as practicable upon the Company's receipt of Optionee's notice of exercise and payment, the Company shall direct the due issuance of the Option Shares so purchased. (c) As a further condition precedent to the exercise of this Option in whole or in part, Optionee shall comply with all regulations and the requirements of any regulatory authority having control of, or supervision over, the issuance of the shares of Common Stock and in connection therewith shall execute any documents which the Board shall in its sole discretion deem necessary or advisable.

Notice of Exercise; Payment. (a) To the extent then exercisable, the Option may be exercised in whole or in part by written notice to the Company stating the number of Option Shares for which the Option is being exercised and the intended manner of payment. The notice shall also state whether Optionee is exercising Tranche I Option Shares, Tranche II Option Shares or Tranche III Option Shares pursuant to such notice. The date of such notice shall be the exercise date. Payment equal to the aggregate Option Price of the Option Shares being purchased pursuant to an exercise of the Option must be tendered in full with the notice of exercise to the Company in one or both of the following methods as specified by Optionee in the notice of exercise: (i) cash in the form Employment Agreement - Tunmire of currency or check or by wire transfer as directed by the Company, or (ii) through the surrender to the Company of shares of Common Stock owned by Optionee for at least six months as valued at their Market Value per Share on the date of exercise. (b) As soon as practicable upon the Company's receipt of Optionee's notice of exercise and payment, the Company shall direct the due issuance of the Option Shares so purchased. (c) As a further condition precedent to the exercise of this Option in whole or in part, Optionee shall comply with all regulations and the requirements of any regulatory authority having control of, or supervision over, the issuance of the shares of Common Stock and in connection therewith shall execute any documents which the Board shall in its sole discretion deem necessary or advisable.