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:{{eqderivprov|3.3(a)}} If “'''{{eqderivprov|Multiple Exercise}}'''” applies to an {{eqderivprov|American Option}} or a {{eqderivprov|Bermuda Option}}, {{eqderivprov|Buyer}} may exercise any part of the unexercised {{eqderivprov|Options}} on any {{eqderivprov|Scheduled Trading Day}} during the {{eqderivprov|Exercise Period}} but may not exercise fewer than the {{eqderivprov|Minimum Number of Options}} or more than the {{eqderivprov|Maximum Number of Options}} on any one {{eqderivprov|Scheduled Trading Day}}, and where an “'''{{eqderivprov|Integral Multiple}}'''” is specified, only in that {{eqderivprov|Integral Multiple}}. | :{{eqderivprov|3.3(a)}} If “'''{{eqderivprov|Multiple Exercise}}'''” applies to an {{eqderivprov|American Option}} or a {{eqderivprov|Bermuda Option}}, {{eqderivprov|Buyer}} may exercise any part of the unexercised {{eqderivprov|Options}} on any {{eqderivprov|Scheduled Trading Day}} during the {{eqderivprov|Exercise Period}} but may not exercise fewer than the {{eqderivprov|Minimum Number of Options}} or more than the {{eqderivprov|Maximum Number of Options}} on any one {{eqderivprov|Scheduled Trading Day}}, and where an “'''{{eqderivprov|Integral Multiple}}'''” is specified, only in that {{eqderivprov|Integral Multiple}}. | ||
An attempted exercise on any {{eqderivprov|Scheduled Trading Day}} of: <br> | :An attempted exercise on any {{eqderivprov|Scheduled Trading Day}} of: <br> | ||
::(i) more than the {{eqderivprov|Maximum Number of Options}} will be treated as an exercise of the {{eqderivprov|Maximum Number of Options}} only (and the excess will remain unexercised); <br> | ::(i) more than the {{eqderivprov|Maximum Number of Options}} will be treated as an exercise of the {{eqderivprov|Maximum Number of Options}} only (and the excess will remain unexercised); <br> | ||
::(ii) fewer than the {{eqderivprov|Minimum Number of Options}} will be ineffective; and <br> | ::(ii) fewer than the {{eqderivprov|Minimum Number of Options}} will be ineffective; and <br> | ||
::(iii) an amount of {{eqderivprov|Options}} that is not in the {{eqderivprov|Integral Multiple}} will be rounded down to the next lowest {{eqderivprov|Integral Multiple}} (and the excess will remain unexercised). <br> | ::(iii) an amount of {{eqderivprov|Options}} that is not in the {{eqderivprov|Integral Multiple}} will be rounded down to the next lowest {{eqderivprov|Integral Multiple}} (and the excess will remain unexercised). <br> |