Article 246 In the cases provided for under Article 238, paragraph (1), item (iii), holders of Share Options must pay the entire Amount to Be Paid in for the Share Options for Subscription for which the holders respectively subscribed, at the place for the handling of bank, etc. payments designated by the Stock Company, no later than the day immediately preceding the first day of the period provided for under Article 236, paragraph (1), item (iv) for Share Options for Subscription (or, in the cases provided for under Article 238, paragraph (1), item (v), no later than the date under that item; in paragraph (3) referred to as the "Payment Date").
Notwithstanding the provisions of the preceding paragraph, Share Option holders may, with the approval of the Stock Company, tender property other than monies equivalent to the Amount to Be Paid in or set off their claims against such Stock Company, in lieu of payment under the provisions of that paragraph.
In the cases provided for under Article 238, paragraph (1), item (iii), Share Option holders may not exercise the Share Options for Subscription unless they pay in the entire Amount to Be Paid in for their respective Share Options for Subscription (including tendering property other than monies or setting off claims against such Stock Company in lieu of such payment) no later than the Payment Date with respect to such Share Options for Subscription.
