Improvement Option definition
Examples of Improvement Option in a sentence
During the Improvement Option Period for a particular Improvement, Revogenex shall not offer a commercial license to any other party with respect to such Improvement (or related patent rights).
If Coronado does not exercise the Improvement Option for a particular Improvement during the applicable Improvement Option Period, Revogenex shall thereafter be free to license its rights in such Improvement to any Third Party.
Such GCLC Improvement Option shall be exercisable by written notice by GCLC to Artiva identifying the applicable Improvement, and upon exercise, the Parties shall enter into good faith negotiations on the terms of such GCLC Improvement License for a period of at least [***] days, after which such option shall lapse with respect to such Improvement.
Accordingly, in the event Licensor exercises an Improvement Option pursuant to Section 6.2(e) to purchase or license rights regarding a Licensee Improvement that is or includes a Licensee Ancillary Improvement, Licensee shall notify Licensor, within three (3) months after the Improvement Option is exercised, whether the Third Party Partner has acquired rights to the Licensee Ancillary Improvement.
The GCLC Improvement Option shall expire upon a Change of Control of Artiva.
If Syllable exercises a Harvard Improvement Option in accordance with Section 2.6.2 above, Syllable shall reimburse Harvard for all documented out-of-pocket expenses incurred by Harvard prior to and during the Improvement Negotiation Period in the preparation, filing, prosecution, protection, defense and maintenance of the applicable Harvard Improvement Patent Rights.
The Optionee must be in continuous employment with the Company or any of its Affiliates or serve as a Director from the Award Date through the Vesting Date in order for the Balance Sheet Improvement Option Shares to vest as provided in this Section 2(c).
At the end of the Vesting Period, if any Balance Sheet Improvement Option Shares remain unvested, such Balance Sheet Improvement Option Shares shall be forfeited.
If Syllable exercises a Harvard Improvement Option for Harvard Improvement Patent Rights in accordance with Section 2.6.2 above, Syllable shall reimburse Harvard for patent costs incurred by Harvard pursuant to Section 6.2.2 below.
The Dual Use Improvement Option may be exercised by Genentech by providing written notice to Wyeth within sixty (60) days after Wyeth provides Genentech written notification of the existence of such Dual Use Improvement.