Definitions of exercise
to make effective or bring into operation or effect or to put a plan, system or the terms of an agreement into operation
A rights plan allows the board to exercise business judgment on behalf of the interests of all shareholders.
to perform an official function
Mr Mallon may exercise his function until the election of new first and deputy first ministers on 11 August.
to use something, especially a right or interest
BAE Systems is exercising its option to force the sale of its 20% stake in Airbus after failing to reach a deal with majority stakeholder EADS.