Qualifications to Exercise. Anything in this Agreement to the contrary notwithstanding, in no event may the Option be exercisable if the Company shall, at any time and in its sole discretion, determine that (a) the listing, registration or qualification of any shares of Stock otherwise deliverable upon such exercise, upon any securities exchange or under any state or federal law, or (b) the consent or approval of any regulatory body, is necessary or desirable in connection with such exercise. In such event, such exercise shall be held in abeyance and shall not be effective unless and until such listing, registration, qualification or approval shall have been effected or obtained free of any conditions not acceptable to the Company.
Appears in 4 contracts
Samples: Employee Stock Option Agreement (Inhibitex, Inc.), Employee Stock Option Agreement (Inhibitex, Inc.), Employee Stock Option Agreement (Inhibitex Inc)
Qualifications to Exercise. Anything in this Agreement to the contrary notwithstanding, in no event may the Option be exercisable if the Company shall, at any time and in its sole discretion, determine that (a) the listing, registration or qualification of any shares of Stock otherwise deliverable upon such exercise, upon any securities exchange or under any state or federal law, or (b) the consent or approval of any regulatory body, is necessary or desirable in connection with such exercise. In such event, such exercise shall be held in abeyance and shall not be effective unless and until such listing, registration, qualification or approval shall have been effected or obtained free of any conditions not acceptable to the CompanyCompany (regardless of any termination of the Option prior to such listing, registration, qualification or approval).
Appears in 2 contracts
Samples: Non Employee Director Stock Option Agreement (Inhibitex, Inc.), Employee Stock Option Agreement (Inhibitex, Inc.)
