Option Exercise Fees. (a) Within sixty (60) days following receipt of an invoice from Liquidia following Liquidia’s receipt of the Respiratory Option Notice from GSK as set forth in Section 4.1(c), which invoice shall be sent in PDF format to [***] with a copy to [***] (or such other email address(es) as may be notified to Liquidia by GSK), GSK shall pay to Liquidia a one-time, non-refundable and non-creditable option exercise fee of ten million Dollars ($10,000,000).
Option Exercise Fees. For each Option exercised by AstraZeneca pursuant to Section 5.10.2, AstraZeneca shall pay Targacept an option exercise fee (the “Option Exercise Fee”): (a) in the amount of [********] Dollars (US $[********]) (i) in the case of [********] or (ii) in the event [********] for an Option Compound [********] and such Option Compound [********]; (b) in the amount of [********] Dollars (US $[********]) (i) in the case of [********] or (ii) if [********] an Option Compound Candidate Drug [********]; or (c) in an amount to be negotiated by the Parties pursuant to Section 5.10.2(e) if [********] an Option 141 Compound that is (i) the subject of a POC Notice [********] the Option Compound Development Plan or (ii) the subject of a Targacept Option Compound Plan that AstraZeneca did not designate as an Option Compound Candidate Drug pursuant to Section 5.10.2(f).
Option Exercise Fees. If Roche exercises its Roche Option Right for a Target, then Roche shall pay a Roche Option Right exercise fee (“Roche Option Exercise Fee”) as set forth below within [***] after exercise of the Roche Option Right and receipt by Roche of an invoice from C4T:
Option Exercise Fees for Licensed Programs 1, 2, 3 and 4. For each of Licensed Program 1, Licensed Program 2, Licensed Program 3 and Licensed Program 4 only, Curis shall pay to Aurigene prior to expiration of the applicable Option Period (as the same may be extended pursuant to Section 4.2(b) hereof), a one-time Option exercise fee of $3,000,000 per Licensed Program. Solely for purposes of this Section 6.5(a), “Licensed Program 1” refers to the first R&D Program with respect to which Curis exercises the Option, “Licensed Program 2” refers to the second R&D Program with respect to which Curis exercises the Option, “Licensed Program 3” refers to the third R&D Program with respect to which Curis exercises the Option and “Licensed Program 4” refers to the fourth R&D Program with respect to which Curis exercises the Option; provided, however, that if Curis does not exercise the Option with respect to at least two R&D Programs, then “Licensed Program 3” shall mean the third Program with respect to which Curis exercises the Option and “Licensed Program 4” shall mean the fourth Program with respect to which Curis exercises the Option (i.e., an Additional R&D Program for which Curis exercises its Option may be considered Licensed Program 3 or Licensed Program 4, as applicable).
Option Exercise Fees. On an Option-by-Option basis, upon the exercise by GSK of an Option for a given Collaboration Program in accordance with Section 3.1, GSK will pay to Isis an Option exercise fee in accordance with Table 1 below (as determined by the type of Collaboration Program for which GSK so exercised its Option) within [***] ([***]) days of receipt by GSK of an invoice sent from Isis on or after the Option exercise becomes effective pursuant to Section 3.2. For purposes of clarification, except as set forth in Section 1.6.2(f) for any Option exercised by GSK for a Different Compound-Expanded [***] Program, once GSK has paid the Option exercise fee under this Section 5.4 in connection with the exercise of an Option, then GSK will not be required to pay a second exercise fee for any Follow-On Compound, Back-Up Compound or other Licensed Compound under the same Collaboration Program Developed and Commercialized by GSK. Table 1
Option Exercise Fees. No later than [***] following execution of the Collaboration Agreement (or an amendment thereto as set forth under Section 7.6 (Subsequent Option Exercise Notices)) with respect to [***] Research Targets following Sarepta’s exercise of the Sarepta Option with respect thereto and Sarepta’s receipt of a corresponding invoice therefor from Codiak, Sarepta will pay to Codiak a payment of $12,500,000 per Research Target for which Sarepta exercises a Sarepta Option (for each Research Target, an “Option Exercise Fee”). If Sarepta exercises the Sarepta Option for all five Research Targets and the Parties execute the Collaboration Agreement (or one or more amendments thereto) for all five Research Targets, then the maximum total due for all Option Exercise Fees would be $62,500,000.
Option Exercise Fees. No later than 15 days following Roche’s delivery to Sarepta of an Option Exercise Notice with respect to the exercise of the Option for the Exon-Skipping Products or any other Option Product and receipt of a corresponding invoice from Sarepta, Roche will pay to Sarepta by wire transfer of immediately available funds a payment of (a) for the exercise of the Option for the Exon-Skipping Products: $[**], (b) for the exercise of the Option for any Gene-Editing Option Product: (i) $[**] for the exercise of the Option for the first Gene-Editing Option Product; and (ii) $[**] for the exercise of the Option for each of the [**] Gene-Editing Option Product, (c) subject to any reduction permitted under Section 2.5.5(a)(C) ([**]), for each exercise of the Option for any Gene Therapy Option Product: $[**] (each, an “Option Exercise Fee”). If Roche fails to pay any Option Exercise Fee when due under this Section 9.3 (Option Exercise Fees), then Sarepta will notify Roche of such failure in writing and, to avoid termination of the applicable Option with respect to such Option Product, Roche will pay to Sarepta the applicable Option Exercise Fee within 15 days after receipt of such notice. Roche will not owe any Option Exercise Fee with respect to the exercise of the Option for any Gene-Editing Option Product after the [**] Gene-Editing Option Product. [**].
Option Exercise Fees. In the event that Sanofi exercises its Option for an Optioned Field, Sanofi shall, concurrently with the exercise of such Option, pay Translate Bio the agreed sum of five million dollars ($5,000,000.00) (the “Option Exercise Fee”) per Optioned Field exercised by such Option.
Option Exercise Fees. On a Licensed Development Candidate-by-Licensed Development Candidate basis, BMS shall pay to MTEM an Option exercise fee of [***] for each Licensed Development Candidate with respect to which BMS exercises the Option in respect of the corresponding Collaboration Target (each, an “Option Exercise Fee”) within [***] of the later of (a) [***], or (b) [***]. In the event that BMS exercises its Back-Up Option in relation to up to [***] additional Licensed Development Candidates, BMS shall pay to MTEM a Back-Up Option exercise fee of [***] within [***] Business Days of the date BMS delivers to MTEM written notice of its exercise of the Back-up Option. Following the exercise of such Back-Up Option, the applicable back-up candidates shall be Licensed Development Candidates.
Option Exercise Fees. The Exercise Fee payable for the exercise of each Option pursuant to Section 4.2 is (a) $[…***…] per Option exercise (i.e., for each of ***Confidential Treatment Requested […***…]* or Respiratory Disease Viruses) if such Option is exercised before the end of […***…] from the Effective Date, or (b) $[…***…] per per Option exercise (i.e., for each of […***…] or Respiratory Disease Viruses) if such Option is exercised after […***…] from the Effective Date and before the end of […***…] from the Effective Date.
