/ˈɛksəsaɪz/ – nounverb
Definition: 1. việc sử dụng, việc thực hiện (quyền), sử dụng, thực hiện (quyền);
2. thi hành (nghĩa vụ).
A more thorough explanation: In a legal context, the term “exercise” refers to the act of using or implementing a right, power, or privilege that is granted by law or a legal document. It can also refer to the performance of a duty or obligation as required by law or a contract.
Example: The parties agreed to include an exercise clause in the contract, allowing either party to terminate the agreement with written notice.