This means they may  choose to exercise the option or not choose to exercise it. 

I'm always thinking of different ways to diversify my business, and I would like to find a way to exercise the Canadian market.

This doesn't mean the bank will call the note due, it just means that they have the option whenever they want if they choose to exercise it.

This exercise will help narrow down the discussion. 

It is an annual back-straining exercise to remove and install these units every year.My thought is to go with a high velocity system with 2" diameter tubes for distribution.   

He has no heirs, and beyond the age of having any, so if he passes away before I exercise it what happens to the option?

@Brendan JacksonI think going about it the manual at first can be a helpful exercise.

I ask most of my new investor clients in Milwaukee that question – it’s just a mental exercise to snap them out of the cash-flow-exclusive thinking and show that there is a bigger picture.

In return for "valuable consideration" paid at the time the agreement is executed, the option holder is free to exercise the option to buy or not while the agreement is in force.Shifting the discussion to him preparing an option contract rather than a modified P&S may help to avoid having the discussion go in circles...

I value education because it is more than just a piece of paper you get.It is the ambition the discipline, it is aiming high, and your mind is like any other muscle. you need to exercise it for it to grow bigger and stronger.Hell I am crushing it in my market BECAUSE I am a NASA caliber robotics scientist.I became a master at SEO because I see numbers.