Licensor’s Option definition

Licensor’s Option. Licensor shall have the option, at Licensor’s sole discretion, to terminate this License at any time within three (3) years of the date of this Agreement upon written notice to Licensee. In the event that Licensor exercises this option, Licensor shall pay to Licensee a sum equal to Two Hundred Percent (200%) of the License Fee paid by Licensee. Upon Licensor’s exercise of the option, Licensee must immediately remove the New Song from any and all digital and physical distribution channels and must immediately cease access to any streams and/or downloads of the New Song by the general public.
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Examples of Licensor’s Option in a sentence

  • Licensor’s Option: Licensor shall have the option, at Licensor’s sole discretion, to terminate this License at any time within three (3) years of the date of this Agreement upon written notice to Licensee.

Related to Licensor’s Option

  • Option means a stock option granted pursuant to the Plan.

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • ISO means an employee incentive stock option described in Section 422(b) of the Code.

  • SAR means a stock appreciation right granted under the Plan.

  • Licensee has the meaning set forth in the preamble.