0 used to describe a financial arrangement such as a share option (= the right to buy or sell shares at a particular price by or on a particular date) that the buyer or seller of the option has not used:
Because, as these things are of later date, so are they infantile ; so are they unaccustomed to, and unexercised in, perfect discipline.
Their potential to generate revenue is substantial if initial allocation is done by auction and if fees are charged annually for holding both exercised and unexercised permits.
There is no such thing as occasional sovereignty exercised in practice only between long intervals of purely theoretical, unexercised sovereignty.
There is no vacuum of power unexercised, unavailable, which is ready to be dished out to new occupiers and exercisers.
The effect of this writing-off action was that unexercised commitments amounting to no less than £213 million were cancelled.
The intention was to clear the decks and make it easier for local planning authorities to assess the reality of unexercised permissions.
If they can do that, it is about time we exercised our corresponding right in the opposite direction, because rights which remain unexercised quickly become forfeited rights.
Clearly, there is no means of distinguishing between money paid for unexercised options which ought to be allowed and those which ought not to be allowed.
