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To put into action, practice, or force; to make use of something, such as a right or option.

To exercise dominion over land is to openly indicate absolute possession and control.

To exercise discretion is to choose between doing and not doing something, the decision being based on sound judgment.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
According to Legrand, the number of exercisable voting rights is obtained after deduction of shares without voting rights.
Initially, these rights will not be exercisable and will trade with the shares of the company's common stock.
As a result of the closing of the Financing and completion of the Warrant Exercise, the Offeror owns 42,759,593 Common Shares and Warrants exercisable for 29,009,593 Common Shares, representing 34.79% of the issued and outstanding Common Shares or 47.24% upon exercise of the Warrants (assuming the exercise of all of the Warrants beneficially owned by the Offeror, and that no other securities, including those convertible into, or exercisable for, the issuer's securities, are issued, converted or exercised).
Each unit consists of one common share and one-half of one warrant, which is exercisable at C$0.165 for 36 months following the closing date of the financing.
The transaction brings his total indirect holding to 8.2 million fully paid shares and 6 million options, half exercisable at 2.6 cents November 2019 and the rest at 2.4 cents exercisable at 2020.
The company stated that the 1,613,075 warrants issued pursuant to closing of the first tranche of a private placement for gross proceeds of USD1.34m, exercisable to purchase 1,613,075 common shares at USD0.87 per common share and due to expire on 17 March 2019, will now expire on 16 March 2020.
Subject to each such employee's continued employment with the company, each option will vest and become exercisable as to 25% of the shares on the first anniversary of the recipient's start date and will vest and become exercisable as to the remaining 75% of the shares in 36 equal monthly instalments upon first anniversary, in each case.