Common use of Exercise Period Clause in Contracts

Exercise Period. (i) American Style Warrants American Style Warrants are exercisable on any Exercise Business Day during the Exercise Period, subject as provided in Condition 6. If Automatic Exercise is not specified as applying in the applicable Final Terms, any American Style Warrant with respect to which no Voluntary Exercise Notice (as defined below) has been delivered in the manner set out in Condition 5, at or prior to 10.00 a.m., Luxembourg or Brussels time, as the case may be, on the last Exercise Business Day of the Exercise Period (the Expiration Date), shall become void. If Automatic Exercise is specified as applying in the applicable Final Terms any such American Style Warrant with respect to which no Voluntary Exercise Notice has been delivered in the manner set out in Condition 5, at or prior to 10.00 a.m. (Luxembourg or Brussels time) on the Expiration Date, as the case may be, shall be automatically exercised on the Expiration Date and the provisions of Condition 5(F) shall apply. The Exercise Business Day during the Exercise Period on which a Voluntary Exercise Notice is delivered prior to 10.00 a.m., Luxembourg or Brussels time (as appropriate), to Clearstream, Luxembourg or Euroclear, as the case may be, and the copy thereof so received by the Principal Agent or, if Automatic Exercise is specified as applying in the applicable Final Terms and no Voluntary Exercise Notice has been delivered at or prior to 10.00 a.m., Luxembourg or Brussels time (as appropriate) on the Expiration Date, the Expiration Date is referred to herein as the "Actual Exercise Date". If any Voluntary Exercise Notice is received by Clearstream, Luxembourg or Euroclear, as the case may be, or if the copy thereof is received by the Principal Agent, in each case, after 10.00 a.m., Luxembourg or Brussels time (as appropriate), on any Exercise Business Day during the Exercise Period, such Voluntary Exercise Notice will be deemed to have been delivered on the next Exercise Business Day, which Exercise Business Day shall be deemed to be the Actual Exercise Date, provided that any such Warrant in respect of which no Voluntary Exercise Notice has been delivered in the manner set out in Condition 5 at or prior to 10.00 a.m. Luxembourg or Brussels time (as appropriate) on the Expiration Date shall (i) if Automatic Exercise is not specified as applying in the applicable Final Terms, become void or (ii), if Automatic Exercise is specified as applying in the applicable Final Terms, be automatically exercised on the Expiration Date as provided above.

Exercise Period. (i) American Style Warrants American Style Warrants are exercisable on any Exercise Business Day during the Exercise Period, subject as provided Period by the delivery of an Exercise Notice in the manner set out in Condition 617(A). If Automatic Exercise is not specified as applying in the applicable Final Terms, any such American Style Warrant with respect to which no Voluntary Exercise Notice (as defined below) has been delivered in the manner set out in Condition 517(A), at or prior to 10.00 a.m., Brussels or Luxembourg or Brussels time, as the case may be, on the last Exercise Business Day of the Exercise Period (the Expiration Date), shall become void. If Automatic Exercise is specified as applying in the applicable Final Terms Terms, any such American Style Warrant with respect to which no Voluntary Exercise Notice has been delivered in the manner set out in Condition 517(A), at or prior to 10.00 a.m. (a.m., Brussels or Luxembourg or Brussels time) on the Expiration Date, as the case may be, on the Expiration Date and which is in the determination of the Calculation Agent "In-The-Money" shall be automatically exercised on the Expiration Date and the provisions of Condition 5(F17(G) shall apply, provided the relevant Warrant is not a Definitive Warrant. The expressions exercise, due exercise and related expressions shall be construed to apply to any Warrants which are automatically exercised on the Expiration Date in accordance with this provision. With respect to an American Style Warrant, the Actual Exercise Date means (a) the Exercise Business Day during the Exercise Period on which a Voluntary an Exercise Notice in respect of an American Style Warrant is delivered to Euroclear and/or Clearstream, Luxembourg with a copy to the Issuer and the Principal Security Agent as provided in Condition 17(A), at or prior to 10.00 a.m.a.m. Brussels or Luxembourg time, Luxembourg or Brussels time (as appropriate), to Clearstream, Luxembourg or Euroclear, as the case may be, and the copy thereof so received by the Principal Agent or, (b) if Automatic Exercise is specified as applying in the applicable Final Terms and no Voluntary Exercise Notice has been delivered at or prior to 10.00 a.m.in accordance with the preceding paragraph (a), Luxembourg or Brussels time (as appropriate) on the Expiration Date, the Expiration Date is referred to herein as the "Actual Exercise Date". If any Voluntary Exercise Notice in respect of an American Style Warrant is received by Euroclear and/or Clearstream, Luxembourg or Euroclear, as the case may beLuxembourg, or if the a copy thereof is received by delivered to the Issuer or the Principal Agent, in each case, Security Agent after 10.00 a.m.a.m. Brussels or Luxembourg time, Luxembourg or Brussels time (as appropriate), on any Exercise Business Day during the Exercise Period, such Voluntary Exercise Notice will be deemed to have been delivered on the next Exercise Business Day, which Exercise Business Day shall be deemed to be the Actual Exercise Date, provided that any such Warrant in respect of which no Voluntary Exercise Notice has been delivered in the manner set out in Condition 5 17(A) at or prior to 10.00 a.m. Brussels or Luxembourg or Brussels time (as appropriate) on the Expiration Date shall (i) if Automatic Exercise is not specified as applying in the applicable Final Terms, become void or (ii), ) if Automatic Exercise is specified as applying in the applicable Final Terms, be automatically exercised on the Expiration Date as provided above. In respect of Italian Listed Warrants, prior to the Renouncement Notice Cut-off Time indicated in the relevant Final Terms, the Securityholder may renounce any Automatic Exercise of such Warrant by the delivery or the sending by authenticated swift message (confirmed in writing) of a duly completed Renouncement Notice, which shall be substantially in the form set out in the Agency Agreement and copies of which may be obtained from the specified office of the Security Agents and the registered office of the Issuer (a Renouncement Notice), to the relevant Clearing System, with a copy to the Principal Security Agent and the Issuer, in compliance with the laws and regulation, including the regulations of the Italian Stock Exchange, applicable from time to time. If a duly completed Renouncement Notice is delivered or sent in compliance with the above, the relevant Securityholder will not be entitled to receive any amounts payable by the Issuer in respect of the relevant Italian Listed Warrants and the Issuer shall have no further liabilities in respect of such amounts. Once delivered a Renouncement Notice shall be irrevocable. Any determination as to whether a Renouncement Notice is duly completed and in proper form shall be made by the relevant Clearing System in consultation with the Principal Security Agent and shall be conclusive and binding on the Issuer, the Security Agents, the Calculation Agent and the relevant Securityholder. Subject as set out below, any Renouncement Notice so determined to be incomplete or not in proper form or which is not duly delivered shall be null and void. If such Renouncement Notice is subsequently corrected to the satisfaction of the relevant Clearing System, in consultation with the Issuer and the Principal Security Agent, it shall be deemed to be a new Renouncement Notice submitted at the time such correction was delivered to the relevant Clearing System and copied to the Issuer and the Principal Security Agent.