Exercise of License Option. The option of Article 7.1 must be exercised by written notice mailed within three (3) months after either (i) Collaborator receives written notice from PHS that the patent or other IP application has been filed; or (ii) the date Collaborator files such IP application. Exercise of this option by the Collaborator initiates a negotiation period that expires nine (9) months after the exercise of the option. If the last proposal by the Collaborator has not been responded to in writing by PHS within this nine (9) month period, the negotiation period shall be extended to expire one (1) month after PHS so responds, during which month the Collaborator may accept in writing the final license proposal of PHS. In the absence of such acceptance, or an extension of the time limits by PHS, PHS will be free to license such IP rights to others. In the event that the Collaborator elects the option for an exclusive license, but no such license is executed during the negotiation period, PHS agrees not to make an offer for an exclusive license on more favorable terms to a third party for a period of six (6) months without first offering Collaborator those more favorable terms. These times may be extended at the sole discretion of PHS upon good cause shown in writing by the Collaborator.
Exercise of License Option. In the event that XYZ notifies University in writing of its exercise of the License Option to acquire an exclusive license under Section 6.01, the Parties shall proceed in good faith to negotiate a license agreement on commercially reasonable terms within _____ (__) months (such period, the “Negotiation Period”) after notification of such exercise; provided, however, that under the license agreement, XYZ or its Affiliates shall agree at least to diligently develop any licensed University Invention or Joint Invention for commercialization within _____ (__) year(s) from the effective date of the license agreement and pay to the University (a) a reasonable upfront license fee, (b) reasonable running royalties on products and/or use of methods practicing any University Invention or Joint Invention and the Licensed Software, (c) reasonable royalties on any royalty free cross licensing or other non-monetary compensation received by XYZ and/or its Affiliates from XYZ’s licensees, and (d) if the License Option to acquire a non-exclusive license to the Background Technology is exercised, reasonable royalty on products and/or use of methods practicing University’s Background Technology.
Exercise of License Option. The option of Article 7.1 must be exercised by written notice mailed within [*] after either (i) RPRP and Introgen, respectively, receives written notice from PHS that the patent or other IP application has been filed; or (ii) the date Introgen files such IP application (Party responsible for patent prosecution); whichever comes first. Exercise of this option by either or both RPRP and Introgen initiates a negotiation period that expires [*] after the exercise of the option. If the last proposal by RPRP and/or Introgen has not been responded to in writing by PHS within this [*] period, the negotiation period shall be extended [*] Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.
Exercise of License Option. (a) AbbVie may exercise the License Option for a Selected Research Compound and corresponding Selected Research Product during the License Option Period by, subject to Section 3.4, providing an Exercise Notice relating thereto to Voyager during the License Option Period. If AbbVie exercises the License Option, AbbVie shall pay to Voyager a one-time, non-refundable, non-creditable payment of Seventy-Five Million Dollars ($75,000,000) (the “License Option Exercise Fee”) within thirty (30) days of the License Option Effective Date.
Exercise of License Option. Sankyo shall exercise the License Option described in Section 4.1 by (i) providing written notice to Telik, prior to the expiration of the Option Term, identifying each Disclosed Active Molecule to which Sankyo desires to procure a license (a "Sankyo-Reserved Molecule") and (ii) negotiating and entering into a mutually agreed license agreement (the "License Agreement") as set forth in Section 4.4 within [ * ] of the Option Effective Date.
Exercise of License Option. The option of Article 8.1 must be exercised by written notice mailed within three (3) months after the patent or other IP application is filed to: CDC Technology Transfer Coordinator Centers for Disease Control 0000 Xxxxxxx Xxxx, N.E. Building 1, B72, Mailstop A20 Xxxxxxx, Xxxxxxx 00000 [***] Confidential Treatment Requested Exercise of this option by the Collaborator initiates a negotiation period that expires nine (9) months after the patent or other IP application filing date. If the last proposal by the Collaborator has not been responded to in writing by CDC within this nine (9) month period, the negotiation period shall be extended to expire one (1) month after CDC so responds, during which month the Collaborator may accept in writing the final license proposal of CDC. After that time, CDC will be free to license such IP rights to others.
Exercise of License Option. The option of Article 8.1 must be exercised by written notice mailed within six months after the patent or other intellectual property application is filed. Exercise of this option by the Collaborator initiates a negotiation period that expires six months after the patent application filing date. If NGA has not responded in writing to Collaborator’s last proposal within this six month period, the negotiation period shall be extended to expire one month after NGA responds. If no Agreement is concluded in this period or if Collaborator exercises its option for a non- exclusive license, NGA shall be free to license such Subject Inventions to others.
Exercise of License Option. The option of Article 7.1 must be exercised by written notice mailed within three (3) months after PSRC receives written notice that the patent or other IP application is filed. Exercise of this option by the PSRC initiates a negotiation period that expires nine (9) months after the patent or other IP application filing date. If the last proposal by the PSRC has not been responded to in writing by ABC within this nine-month
Exercise of License Option. Grantee may exercise the License Option for all or any portion of the Option Premises by delivering to the Owner written notice of exercise of the License Option in the form set forth in Exhibit D attached hereto and incorporated herein by reference (the “Notice of Exercise”), which may be delivered at any time during the Option Period. Such Notice of Exercise shall include (a) the proposed commencement date for the PPA and License Agreement, which shall be no later than thirty (30) days following the date of the Notice of Exercise, (b) a legal description of the Option Premises to be licensed by the Grantee, or such other description or depiction of the Option Premises and easement areas reasonably acceptable to Owner, and (c) a proposed site layout of the System. Within thirty (30) business days after receipt of the Notice of Exercise by Owner, the Parties shall finalize, execute, and deliver to each other the PPA and License Agreement for the Property with the commencement date, Property and Option Premises description, and proposed site layout of the System completed.
Exercise of License Option. BioNova or its designated Affiliate will have the right to exercise or not exercise, for any or no reason in its sole discretion, the License Option. BioNova or its designated Affiliate may exercise the License Option by (a) providing to Sutro written notice of its exercise of the License Option (such notice, the “License Option Exercise Notice”) at any time during the period commencing on the Effective Date until the earlier to occur of the following: (i) [*] following BioNova’s completion [*] in the dose expansion portion, and (ii) [*](such period, the “License Option Exercise Period”), and (b) paying in full to Sutro the License Option Exercise Payment pursuant to Section 8.1. In the event that BioNova or its designated Affiliate has not provided Sutro with a License Option Exercise Notice and paid the License Option Exercise Payment prior to the expiration of the License Option Exercise Period, then the License Option and this Agreement will automatically expire without any further action of the Parties and Sutro will thereafter retain the exclusive right to Develop, Manufacture and Commercialize and otherwise make, have made, use, offer for sale, sell, have sold, and import the Licensed Compounds and Licensed Products, in all fields including in and outside of the Field, and throughout the world including in and outside of the Territory, whether on its own or in collaboration with a Third Party, and Sutro will have no further obligation or liability to BioNova whatsoever in respect of the License Option or otherwise under this Agreement.
