Common use of Expansion Options Clause in Contracts

Expansion Options. For the first two years following the Agreement Date, JT shall have options to expand the Collaboration to include the areas of Indication #2 (as such term is defined on Exhibit A attached hereto) (the "Indication #2 Option") and Indication #3 (as such term is defined on Exhibit A attached hereto) (the "Indication #3 Option") upon the terms and conditions contained in this Agreement. If the Research Program with respect to Indication #1 is terminated by JT pursuant to Section 2.6 prior to the exercise or expiration of either Indication #2 Option or Indication #3 Option, JT shall inform Gene Logic in writing prior to the expiration of the applicable six-month notice period of whether or not JT will be exercising either or both of such options prior to its expiration and if so, when it will exercise such option. In the event that JT does not exercise the Indication #2 Option or the Indication #3 Option prior to the expiration of the two-year period following the Agreement Date or their earlier termination as provided in this Section 6.1, then Gene Logic shall thereafter be free to grant rights to a Third Party in the areas of Indication #2 or Indication #3, as applicable.