Option Exercise Notice definition
Examples of Option Exercise Notice in a sentence
Promptly following completion of the corresponding activities under the Development Plan for the Pegaspargase Product, Pfenex shall provide Jazz with Option Data Package 1 and, if Jazz has not previously delivered to Pfenex an Option Exercise Notice or if Jazz delivered an Option Exercise Notice but the Parties were unable to negotiate and enter into an Option Exercise Agreement pursuant to Section 2.4(d), Option Data Package 2.
Following Jazz’s delivery of an Option Exercise Notice, the Parties shall use good faith efforts to negotiate the terms and conditions of a definitive agreement regarding the Pegaspargase Product (an “Option Exercise Agreement”) on an exclusive basis, meaning that Pfenex and its representatives shall not engage in discussions with any Third Party regarding a potential grant of rights to such Third Party with respect to the Pegaspargase Product during the negotiation period.