Exercise procedure definition

Exercise procedure. A Beneficiary wishing to exercise the Options vested, according to the Exercise Dates and the limits set forth in subsections 2.1 and 2.2 above, shall notify Terra twenty (20) business days prior to the Exercise Date pursuant to Article Five below, as to the number of Options the Beneficiary proposes to exercise. Exercised Options shall be paid out in cash differences and the Beneficiary shall be given Stock or a cash amount according to the settlement procedure provided in subsection 2.4 below; the option between one form of payment or the other shall rest exclusively with TERRA. For these purposes, the Beneficiary shall specify in the notice the securities account in which he wishes the Stock to be deposited, where applicable, as well as the bank account to which he wishes the cash amount to be transferred and, where applicable, the cash balance resulting from the pay-out in Stock.
Sample 1

Examples of Exercise procedure in a sentence

  • The Automatic Exercise procedure is provided as a convenience and as a protection against inadvertent expiration of an Option.

  • The Committee, in its sole discretion, may provide in an Award Agreement or otherwise (subject to such terms, conditions, provisions and restrictions set forth therein) that: (a) payment of all or any part of the aggregate Exercise Price of a Stock Option may be made by tendering (actually or by attestation) Shares already owned by the Participant; or (b) the Stock Option may be exercised through a Net Exercise procedure.

  • If, on the date on which an SAR would otherwise terminate or expire, the SAR by its terms remains exercisable immediately prior to such termination or expiration and, if so exercised, would result in a payment to the holder of such SAR, then any portion of such SAR which has not previously been exercised shall automatically be deemed to be exercised as of such date with respect to such portion pursuant to a Net Exercise procedure and withholding of Shares as described in Section 17.2.

  • Within two (2) Trading Days following an exercise of this Warrant as aforesaid (the “Price Delivery Date”), the Holder shall deliver payment to the Warrant Agent or the Company of an amount equal to the aggregate Exercise Price of the Warrant Shares thereby purchased by wire transfer or cashier’s check drawn on a United States bank or, if available, pursuant to the Cashless Exercise procedure specified in Section 2(c) below.

  • Option Style: European Exercise Method: Automatic Exercise procedure: Manual exercise or abandon is not permitted.

  • If the Company so approves, the Optionee may satisfy his obligations under this Section 5 by (i) tendering previously-acquired shares of Common Stock or having shares of Common Stock withheld from the shares of Common Stock to be received upon exercise, provided that the shares have an aggregate Fair Market Value on the date of exercise of the Option sufficient to satisfy in whole or in part the applicable withholding taxes; or (ii) utilizing the Cashless Exercise procedure described in Section 3(d).

  • Under the Net Exercise procedure, Y elects to receive shares of Common Stock equal to the value of the Option.

  • If Y were to elect the Net Exercise procedure, Y would provide X with written notice of Y’s election to utilize the Net Exercise procedure, and X would issue to Y the number of shares of the Common Stock computed using a formula specified in the Stock Option Pledge Agreement.

  • In addition, at the election of the Optionee, the Optionee may satisfy his obligations under this Section by utilizing the Net Exercise procedure described in Section 3(d).

  • For purposes of clarity, in no event shall any shares of Company Common Stock be issued upon the deemed Cashless Exercise procedure described in the preceding sentence.

Related to Exercise procedure

  • Initial Exercise Price shall have the meaning set forth in Section 2.4.1.

  • Exercise Price means the initial exercise price or the adjusted exercise price, depending on the context.

  • Warrant Exercise Period shall commence (subject to Section 6(d) below), on the later of:

  • Option Exercise Price means the price at which a share of Common Stock may be purchased upon the exercise of an Option.

  • 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;

  • Option Exercise Period has the meaning set forth in Section 6.4.

  • Warrant Exercise Price means $0.05 per share.

  • Exercise Price Per Share hereinafter “Exercise Price” means the exercise price with respect to all Shares acquired pursuant to each exercise of the Option).

  • Exercise Period means the period commencing on the Issuance Date and ending on 5:00 p.m. eastern standard time on the five-year anniversary thereof.

  • Option Exercise Date has the meaning specified in Section 2.1.

  • Total Exercise Price shall have the meaning set forth in Section 4(a) hereof.

  • Option Price means the price at which a Share may be purchased by a Participant pursuant to an Option.

  • Aggregate Option Exercise Price means, as of any date of determination, the sum of the exercise prices payable upon exercise in full of all Vested Options held by all Optionholders immediately prior to the Effective Time, based on the Estimated Merger Consideration or the Final Adjusted Merger Consideration, as applicable.

  • Initial Warrant Exercise Date means __________, 1997.

  • Option Exchange Program means a program whereby outstanding Options are surrendered in exchange for Options with a lower exercise price.

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

  • Cashless Exercise means a Cashless Exercise as defined in Section 6.3(b)(i).

  • Initial Exercise Date shall have the meaning ascribed to such term in the Preamble.

  • Net Exercise means a Net Exercise as defined in Section 6.3(b)(iii).

  • Replacement Option has the meaning ascribed thereto in Section 2.2(c).

  • Option Exercise Notice has the meaning set forth in Section 2.4(c).

  • Expedited Deliverability Study means a deliverability study that an eligible Developer may elect to pursue as that term is defined in OATT Section 25 (OATT Attachment S) that may determine the extent to which an existing or proposed facility satisfies the NYISO Deliverability Interconnection Standard at its requested CRIS level without the need for System Deliverability Upgrades. The schedule and scope of the study is defined in Sections 25.5.9.2.1 and 25.7.1.2 of this Attachment S.

  • Grant Price means the price established at the time of grant of a SAR pursuant to Article 7, used to determine whether there is any payment due upon exercise of the SAR.

  • Nonstatutory Option means a stock option not described in Sections 422(b) or 423(b) of the Code.

  • SAR Exercise Price means the per share exercise price of a SAR granted to a Grantee under Section 9 hereof.

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