BSP Option definition
Examples of BSP Option in a sentence
In general, BSP may exercise the BSP Option on a Class-by-Class basis prior to expiration of the relevant BSP Option Period.
If BSP exercises a BSP Option for a Biological Collaboration Compound Class or the Small Molecule Advancement occurs, the milestone payments set forth in the table in Exhibit 6.3.4 relevant to each BSP Development Compound in such Class shall become due on achievement of the relevant milestone event set forth in the table in Exhibit 6.3.4 for such BSP Development Compound; [***].
Any Regulatory Filing prepared, filed, maintained or owned by OncoMed with respect to any Clinical Trial for a Late BSP Development Compound prior to exercise of the BSP Option with respect to such compound, and any related submissions, shall be transferred to BSP and OncoMed shall conduct co-Development activities, if any, under such Regulatory Filings.
In consideration for the rights granted to BSP under Section 3.1 with respect to the BSP Option for the Fzd-Fc Class, BSP shall pay, within [***] after receipt of an invoice therefor, a one-time option extension fee of five million Dollars ($5,000,000) to OncoMed.
The BSP Option for each Biologic Collaboration Compound Class shall expire at the end of the BSP Option Period relevant to such Class.
In such case, subsections (a) or (c) shall apply, as applicable, but (i) [***], (ii) BSP shall become obligated to pay to OncoMed [***], upon such exercise of the BSP Option, and (iii) for clarity, if such exercise is in the situation described in subsection (c), BSP shall pay [***].
If BSP does not exercise any of its BSP Options within the respective BSP Option Periods therefor or does not make the payment set forth in Section 6.3.3 for the Small Molecule Class within the time period set forth in Section 6.3.3, this Agreement will expire within thirty (30) days after the later of the termination of the last to expire BSP Option Period or the expiration of the time period set forth in Section 6.3.
BSP shall make the applicable BSP Option exercise payment set forth in the table in Exhibit 6.3.2 to OncoMed within [***] after receipt of an invoice for such payment, which invoice shall issue no earlier than the date on which BSP exercises a BSP Option for the relevant Class, as further described in Section 3.1.2.
In such case, BSP shall pay the [***] payment due to OncoMed set forth in the [***] upon exercise of the BSP Option for the [***] Class [***].
BSP shall exercise the BSP Option by written notice to OncoMed within the applicable BSP Option Period.