Exercise Loan definition

Exercise Loan means a loan made by the Company or a Subsidiary to a Participant under Rule 10 for the purpose of acquiring a Share by the exercise of an Option.
Sample 1Sample 2Sample 3

Examples of Exercise Loan in a sentence

  • Those terms and provisions as the Board or the Committee shall determine shall be incorporated into the promissory note evidencing the Option Exercise Loan.

  • The term of the Option Exercise Loan shall be a period not to exceed ten years, as determined by the Board or the Committee, and the proceeds of the Option Exercise Loan shall be used exclusively by the Optionee for purchase of Shares from the Company at a purchase price equal to the option price set forth in the Optionee's Share Option Agreement.

  • The Company shall release and deliver to each Optionee certificates for the Shares purchased by the Optionee with an Option Exercise Loan and then held by the Company at such time as the Optionee has paid or otherwise satisfied in full the balance of the Option Exercise Loan and any accrued but unpaid interest thereon.

  • An Option Exercise Loan shall bear interest at such rate as the Committee shall determine (but not in excess of the maximum rate permissible under applicable law), payable in a manner and at such times as the Committee shall determine.

  • Each Option Exercise Loan shall be evidenced by a promissory note of the Optionee.

  • The share certificates for the Shares purchased by an Optionee with an Option Exercise Loan shall be issued in the Optionee's name, but shall be held by the Company as security for repayment of the Optionee's Option Exercise Loan together with a stock power executed in blank by the Optionee (the execution and delivery of which by the Optionee shall be a condition to the issuance of the Shares).

  • On each anniversary date of an Option Exercise Loan, the Company may release and deliver to each Optionee certificates for Shares purchased by an Optionee with an Option Exercise Loan, in such amounts and on such terms and conditions as the Board or the Committee shall determine, which shall be set forth in the Option Exercise Pledge Agreement.

  • The Option Exercise Loan shall be secured by a pledge of the Common Stock received upon exercise of the Option (the "Pledged Shares") and shall contain customary terms and conditions assuring the repayment of the Option Exercise Loan from any proceeds of the sale of the Pledged Shares.

  • The Board or the Committee may determine that an Optionee may pay all or a portion of the purchase price of Shares being purchased by an Optionee pursuant to the exercise of an Option through a loan made by the Company to the Optionee (an "Option Exercise Loan") as set forth in this Article 4.

  • The Company maintains the Stock Option Exercise Loan Program under which holders of exercisable stock options may obtain interest-free and interest-bearing loans from the Company to facilitate their exercise of stock options.

Related to Exercise Loan

  • Discounted Prepayment Option Notice has the meaning specified in Section 2.05(d)(ii).

  • Exercise Amount means for any number of Warrant Shares as to which this Warrant is being exercised the product of (i) such number of Warrant Shares times (ii) the Exercise Price.

  • Conversion Right has the meaning set forth in Section 4.05(a) hereof.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Optional Prepayment Price shall have the meaning set forth in Section 14.02(a).

  • Cash Exercise with respect to Warrant Shares; and/or

  • ARD Loan Any Mortgage Loan that provides that if the unamortized principal balance thereof is not repaid on its Anticipated Repayment Date, such Mortgage Loan will accrue Additional Interest at the rate specified in the related Mortgage Note and the Mortgagor is required to apply excess monthly cash flow generated by the related Mortgaged Property to the repayment of the outstanding principal balance on such Mortgage Loan.

  • Optional Repurchase is defined in Section 5.1(b).

  • Cashless Exercise Ratio means a fraction, the numerator of which is the excess of the Current Market Value per share of Common Stock on the Exercise Date over the Exercise Price per share as of the Exercise Date and the denominator of which is the Current Market Value per share of the Common Stock on the Exercise Date.

  • Optional Prepayment shall have the meaning set forth in Section 2.10.

  • Exercise Valuation Date means the first Scheduled Trading Day of the month following the expiry of 35 calendar days after the Exercise Date. For the avoidance of doubt, the 35 calendar day period is mandatory and non-waivable by either the Issuer or the Holder.

  • Mandatory Conversion Notice shall have the meaning ascribed to it in Section 4.01(b)(ii) hereof.

  • Full Prepayment Any payment of the entire principal balance of a Mortgage Loan which is received in advance of its scheduled Due Date and is not accompanied by an amount of interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment.

  • Exercise Payment means the amount of money equal to the Exercise Price multiplied by the number of Optioned Shares specified in the Notice of Exercise;

  • Conversion Option means the Company’s option to convert some or all of the Series D Preferred Stock into that number of shares of Common Stock that are issuable at the then-applicable conversion rate as described in Section 8(c) of these Articles Supplementary.

  • Optional Prepayment Date has the meaning specified in Section 4.b hereof.

  • Exercise Event shall have the meaning ascribed to such term in Section 2(c).

  • Reinvestment Prepayment Amount with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in the Borrower’s business.

  • Optional Conversion means the conversion of any Convertible Preferred Stock other than a Mandatory Conversion.

  • Forced Conversion Notice shall have the meaning set forth in Section 6(d).

  • New Exercise Date means a new Exercise Date if the Administrator shortens any Offering Period then in progress.

  • Reinvestment Prepayment Date with respect to any Reinvestment Event, the earlier of (a) the date occurring twelve months after such Reinvestment Event and (b) the date on which the Borrower shall have determined not to, or shall have otherwise ceased to, acquire or repair assets useful in the Borrower’s business with all or any portion of the relevant Reinvestment Deferred Amount.

  • Principal Prepayment Amount For any Distribution Date and for any Loan Group, the sum with respect to the Mortgage Loans in such Loan Group of (i) Curtailments received during the Prior Period from such Mortgage Loans and (ii) Payoffs received during the Payoff Period from such Mortgage Loans.

  • Net Issuance Proceeds means, in respect of any issuance of equity or incurrence of Indebtedness, cash proceeds (including cash proceeds as and when received in respect of non-cash proceeds received or receivable in connection with such issuance), net of underwriting discounts and reasonable out-of-pocket costs and expenses paid or incurred in connection therewith in favor of any Person not an Affiliate of the Borrower.

  • Optional Redemption Pricing Date means a Valuation Date on which a Redemption Order is determined to be valid and accepted by or on behalf of the Issuer in accordance with the terms of the LS Operating Procedures Agreement.

  • Demand Exercise Notice has the meaning set forth in Section 2.1(a).