Common use of Persons Eligible to Exercise Clause in Contracts

Persons Eligible to Exercise. During your lifetime, only you (or your permitted transferee, as described in Section 7 below) may exercise the Option or any portion thereof. After your death, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 2(c) or Section 3 of this Agreement, be exercised by your personal representative or by any person empowered to do so under your will or under the then applicable laws of descent and distribution.

Persons Eligible to Exercise. During your lifetime, only you (or your permitted transferee, as described in Section 7 8 below) may exercise the Option or any portion thereof. After your death, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 2(c) or Section 3 of this Agreement, be exercised by your personal representative or by any person empowered to do so under your will or under the then applicable laws of descent and distribution.

Persons Eligible to Exercise. During your lifetimethe lifetime of the Participant, only you (the Participant, or your permitted transfereeany person to whom the Option may be transferred pursuant to Section 5.2 below, as described in Section 7 below) may exercise the Option or any portion thereof. After your deaththe death of the Participant, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 2(c) or Section 3 of this Agreement3.3, be exercised by your his personal representative or by any person empowered to do so under your the deceased Participant’s will or under the then applicable laws of descent and distribution.