Notice on Exercise Sample Clauses
The "Notice on Exercise" clause defines the requirement for a party to formally notify the other party when they intend to exercise a specific right or option under the agreement. Typically, this clause outlines the method, timing, and content of the notice, such as requiring written notification within a certain period before the exercise date. For example, in an option contract, the holder must inform the issuer in writing before the option expires. The core function of this clause is to ensure clear communication and provide both parties with certainty and adequate time to prepare for the exercise of contractual rights, thereby reducing the risk of disputes or misunderstandings.
Notice on Exercise. 2.4.1 If Party A exercises the option hereunder, it shall notify in writing Grantors of such exercise Ten (10) working days prior to the delivery date (as defined below), and such notice shall specify the following terms:
(a) Effective delivery date (“Delivery Date”) of the shares after the option is exercised, namely the date on which a formal application for share change registration is filed to the relevant administrative department of industry and commerce;
(b) Name of the registered holder of the shares after the option is exercised;
(c) Number of the shares purchased from Grantors;
(d) Exercise consideration and its payment method; and
(e) Power of attorney (if exercised by any third party on its behalf).
2.4.2 The Parties hereto agree that Party A may designate at any time any third party to exercise the option and acquire and register the shares in the name of such third party. Grantors agree that, as long as Party A or its designated third party requests to exercise the option, Grantors shall, within Ten (10) working days after receipt of a notice on exercise, sign a share transfer agreement and other relevant documents according to the notice on exercise and this Agreement.
Notice on Exercise. In case Party A exercises the Option hereunder, it shall notify the Grantors of such exercise in writing ten (10) business days prior to the Delivery Date (as defined below). Such notice shall cover the following contents:
2.4.1 effective delivery date (the “Delivery Date”) of the Equity after the Option is exercised;
2.4.2 name of registered holder of the Equity after the Option is exercised;
2.4.3 respective number and proportion of the Equity purchased from the Grantors;
2.4.4 exercise consideration and payment method; and
2.4.5 power of attorney (if the exercise is made by a third party designated by Party A).
Notice on Exercise. In case Party A exercises the option hereunder, it shall notify the Principals of such exercise in writing ten (10) business days prior to the Delivery Date (as defined below). Such notice shall cover the following contents:
2.4.1 Effective Delivery Date (hereinafter referred to as “Delivery Date”) of the Share after the option is exercised;
2.4.2 Name of registered holder of the Share after the option is exercised;
2.4.3 Respective number and proportion of the Share purchased from the Principals;
2.4.4 Exercise consideration and payment method;
2.4.5 Power of Attorney (if the exercise is made by a third party designated by Party A). The Parties have agreed that Party A is entitled to, from time to time, appoint a third party to exercise the option and register the Share in the name of such third party.
Notice on Exercise. 1If Party A exercises the option hereunder, it shall notify in writing Grantors of such exercise Ten (10) working days prior to the delivery date (as defined below), and such notice shall specify the following terms: