Common use of Procedure to Exercise Clause in Contracts

Procedure to Exercise. This Option may be exercised only by delivery of a written notice to the Company at its principal office, stating the number of shares of Common Stock as to which the Option is being exercised and accompanied by payment in full in cash or by certified check of the exercise price for all such shares.

Procedure to Exercise. This Option may be exercised only by delivery of a written notice to the Company at its principal office, stating the number of shares of Common Stock as to which the Option is being exercised and accompanied by payment in full in cash or by certified check of the exercise price for all such shares. This Option shall not be deemed exercised in the event that payment therefor is not received, and shares of Common Stock shall not be issued upon the exercise of an Option unless the exercise price is paid in full at the time of exercise.