Non-Transferable Option definition

Non-Transferable Option means an Option the terms of which prohibit transfer except in the case of (a) the death of the individual option holder as outlined in subsection 2.08(a) herein; (b) transfers, whether or not such transfers constitute trades, (i) between any of an Employee of the Company, a subsidiary entity of that Employee, a RRSP established by or for that Employee or under which that Employee is the beneficiary and a RRIF established by or for that Employee or under which that Employee is the beneficiary; (ii) between any of an Executive of the Company, a subsidiary entity of that Executive, a RRSP established by or for that Executive or under which that Executive is the beneficiary and a RRIF established by or for that Executive or under which that Executive is the beneficiary; or (iii) between any of an individual who is a Consultant of the Company, that individual's Consultant Company, that individual's Consultant Partnership, a RRSP established by or for that individual or under which that individual is the beneficiary and a RRIF established by or for that individual or under which that individual is the beneficiary; (c) a transfer to (i) a spouse of the Optionee, (ii) a minor child of the Optionee, (iii) a minor grandchild of the Optionee, or (iv) a trust, of which at least one of the trustees is the Optionee and the beneficiaries of which are one or more of the Optionee and a person referred to in subsection (i), (ii) and (iii) of section (c) of this definition above.
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Non-Transferable Option means an Option the terms of which prohibit transfer except in the case of
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Non-Transferable Option means an option the terms of which prohibit transfer except in the case of
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Examples of Non-Transferable Option in a sentence

  • From the time of Shareholder’s pledge of the Aggregate Non-Transferable Option Value, (i) no Exchange Property Unit will include any such options, rights or warrants; and (ii) the Collateral Agent, upon request from Shareholder, will, so long as no Default or Event of Default has occurred and is continuing, promptly release to Shareholder such options, rights or warrants from the Collateral, in accordance with the Collateral Agreement.

  • From the date of issuance of such options, rights or warrants until Shareholder’s payment of the Aggregate Non-Transferable Option Value as provided above, each Exchange Property Unit will include the number of those options, rights or warrants issued for each unit of the relevant Exchange Security multiplied by the number of units of the relevant Exchange Security that are part of one Exchange Property Unit immediately before the issuance of those options, rights or warrants.

  • By 5:00 p.m., New York City time, on the third Business Day following such determination of the fair market value of each such option, right or warrant Shareholder shall pledge to the Collateral Agent for the benefit of Purchaser an amount of cash in U.S. dollars (the “Aggregate Non- Transferable Option Value”) equal to the product of (1) the Non-Transferable Option Value, (2) the Maximum Exchange Rate and (3) the total number of Trust Securities outstanding as of the Record Date.