Payment by Grantee. Each grantee shall, no later than the date as of which the value of an Award or of any Stock or other amount received thereunder first becomes includable in the gross income of the grantee for income tax purposes, pay to the Company, or make arrangements satisfactory to the Administrator regarding payment of, any Federal, state, or local taxes of any kind required by law to be withheld by the Company with respect to such income. The Company and its Subsidiaries shall, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to the grantee. The Company’s obligation to deliver evidence of book entry (or stock certificates) to any grantee is subject to and conditioned on tax withholding obligations being satisfied by the grantee.
Payment by Grantee. The exercise price for each share purchased under this option shall be payable in cash (or by certified check, bank draft or money order), in shares of Common Stock (including Common Stock to be received upon a simultaneous exercise) or, if the Committee consents, in other consideration substantially equivalent to cash. The Committee may permit payment of all or a portion of the exercise price in the form of a promissory note or installments according to terms approved by the Committee and under the term's of Wolverine's then existing Stock Option Loan Program. The Board of Directors of Wolverine may restrict or suspend the power of the Committee to permit such loans and may require that adequate security be provided.
Payment by Grantee. When exercising this stock option, Grantee shall pay Wolverine in cash, in previously owned shares of Wolverine's common stock or, if the Committee consents, in other consideration substantially equivalent to cash. The Committee, in its discretion, may permit payment of all or a portion of the exercise price in the form of a promissory note or installments according to terms approved by the Committee and under the terms of Wolverine's then existing Stock Option Loan Program. The Committee may require security acceptable to the Committee.
Payment by Grantee. When exercising this stock option, Grantee shall pay Manatron in cash or, if the Committee consents, in previously owned shares of Manatron's common stock that were held by Grantee for at least six months or other consideration substantially equivalent to cash. Except as prohibited by law or regulation, the Committee, in its discretion, may permit payment of all or a portion of the exercise price in the form of a promissory note or installments according to terms approved by the Committee. The Committee may require security acceptable to the Committee.
Payment by Grantee. When exercising the Option, Grantee shall pay the Company in cash or by certified check or wire transfer of immediately available funds.
Payment by Grantee. Each grantee shall, no later than the date as of which the value of an Award or of any Stock or other amounts received thereunder first becomes includable in the gross income of the grantee for Federal or non-U.S. income tax purposes, pay to the Company, or make arrangements satisfactory to the Administrator regarding payment of, any Federal, state, provincial or local taxes of any kind required by law to be withheld by the Company with respect to such income. The Company and its Subsidiaries shall, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to the grantee. The Company's obligation to deliver evidence of book entry (or stock certificates) to any grantee is subject to and conditioned on tax withholding obligations being satisfied by the grantee.
Payment by Grantee. The Exercise Price for each share purchased under this option shall be payable in cash (or by certified check, bank draft or money order) or, if the Committee consents, in shares of Common Stock (including Common Stock to be received upon a simultaneous exercise) or other consideration substantially equivalent to cash. The Committee may permit payment of all or a portion of the Exercise Price in the form of a promissory note or in installments according to terms approved by the Committee. The Board of Directors of Hastings may restrict or suspend the power of the Committee to permit such loans and may require that adequate security be provided. For purposes of payment to Hastings in whole or in part with shares of Common Stock (including shares of Common Stock to be received upon a simultaneous exercise), shares of Common Stock shall be valued as follows: (a) if shares of Common Stock are listed or quoted for trading on an exchange or quotation system, at the mean of the highest and lowest sales prices of shares of Common Stock reported on such exchange or system that is the primary stock exchange or system for trading of Common Stock on the date of exercise, or if such exchange or system is closed on that date, the last preceding date on which such exchange or system was open for trading and on which shares of Common Stock were traded; or (b) if shares of Common Stock are not listed or quoted for trading on an exchange or quotation system, at a price determined by the Board of Directors. Such payment shall be made by delivery, or satisfactory assurances of delivery, to Hastings of the certificate(s) representing all of the shares of Common Stock to be used as payment, duly endorsed for transfer or accompanied by stock powers duly endorsed, in forms sufficient to vest lawful title in Hastings. The Grantee shall represent and warrant to Hastings with respect to all Common Stock used as payment under the terms of this Agreement that the Grantee has good and marketable title to the shares to be used as payment and the absolute right to sell, assign, transfer and deliver the shares to Hastings pursuant to this Agreement, free and clear of all liens, pledges, encumbrances, options, rights of first refusal or other claims of any nature whatsoever, except transfer restrictions required under applicable federal and state securities laws. Payment with Common Stock may be used in combination with payment with cash.
Payment by Grantee. In exercising this stock option, Grantee may pay Wolverine either in cash or, if the Committee consents, in shares of Wolverine common stock or on an installment basis. If payment is made in the form of shares of common stock, such shares shall be valued at their fair market (as defined in the Plan) at the time of delivery to Wolverine. If appropriate arrangements are made with a broker or other institution, payment may be made by a properly executed exercise notice directing delivery of the share to the broker, together with irrevocable instructions to the broker to promptly deliver to Wolverine the amount of sale or loan proceeds to pay the exercise price. If at the time of exercising the option Grantee is subject to the six-month xxxxxxx xxxxxxx restrictions of Section 16(b) of the Securities Exchange Act of 1934, Grantee may irrevocably elect to have stock withheld, or deliver stock to Wolverine, to satisfy any required tax withholding obligations if the Committee does not disapprove the election. Such election must be made before the taxable event and either six months prior to the taxable event or within a ten-day window period beginning on the third day following the release of the quarterly or annual statements of Wolverine's sales and earnings. If payment or withholding is made in the form of shares of common stock, such shares shall be valued at their fair market value (as defined in the Plan) at the time of exercise or date of taxable event if satisfying withholding obligations.
Payment by Grantee. The Exercise Price per share shall be the amount set forth above, which shall not be less than the Market Value on the date of the grant (as defined in the Plan), subject to adjustment as provided in the Plan and this Agreement. Grantee may pay the purchase price in cash or, if the Committee consents, in shares of the Company's Common Stock (including Common Stock to be received upon a simultaneous exercise). With Grantee's consent, the Committee may amend the time and terms of payment before or after the exercise of the option, but any such amendment shall not reduce the option price. The Committee may authorize payment of all or a portion of the option price in the form of a promissory note or installments according to such terms as the Committee may approve. The Board of Directors may restrict or suspend the power of the Committee to permit such loans and may require that adequate security be provided.
Payment by Grantee. The Grantee must pay on demand all amounts owing to KiwiRail as a result of the indemnity contained in clause 15.1, together with interest on those amounts at the Default Interest Rate calculated on a daily basis from the date KiwiRail incurs that liability until the Grantee pays the relevant amount.
