Restriction on Exercise. The Option may not be exercised during any period in which Optionee is in default under the terms of any loan or other obligation that Optionee may have with the Company. Upon cure of such default, the restrictions of this Section 4 will lapse and the Option shall be exercisable to the extent vested and otherwise exercisable under the terms of this Agreement.
Appears in 6 contracts
Samples: Hanover Compressor Company Stock Option Agreement (Hanover Compressor Co /), Compressor Company Stock Option Agreement (Hanover Compressor Co /), Hanover Compressor Company Stock Option Agreement (Hanover Compressor Co /)