Option Exercise Payment definition
Examples of Option Exercise Payment in a sentence
On and after the redemption date, interest will cease to accrue on the Notes as long as the Company has deposited with the Paying Agent funds in an amount equal to the Call Option Exercise Payment.
After receiving such written notice, Moderna will submit an invoice to AstraZeneca for the amount of the Contingent Event Option Exercise Payment, and AstraZeneca will pay Moderna the applicable Contingent Event Option Exercise Payment within [***][***] days after AstraZeneca’s receipt of such invoice.
Notwithstanding Sections 5.1-5.3 above, in the event that TAIHO concurrently exercises an Option with respect to Licensed Products from two (2) or more Arcus Programs that are being Developed as a combination therapy (an “Intra-Portfolio Combination”) then each Option Exercise Payment and Development and Regulatory Milestone Payment for such Licensed Products included in such Intra-Portfolio Combination will be reduced by [***] percent ([***]%).
In no event will any credits, deductions or reductions permitted to be taken under this Schedule A, the Option Agreement or any other Transaction Agreement against any particular Contingent Event Option Exercise Payment or Option Exercise Earn-Out payment owed to Moderna under this Schedule A (including pursuant to Paragraph 2.3(c) (Schedule A))act to reduce such payment by more than [***]; provided, that [***].
The Option Exercise Payment shall be payable by Spark within [***] after Spark’s notice that it is exercising such Option or within [***] after HSR Clearance, if an HSR Filing is needed.
Licensee shall not, and shall have no right to, alone or through any Affiliate or Third Party, exercise or sublicense such license unless and until Licensee exercises the Option and pays the Option Exercise Payment.
Licensee may exercise the Option by providing written notice to K▇▇▇▇▇ during the respective Option Period identifying the respective Option being exercised and paying to Kineta the respective Option Exercise Payment set forth in Section 6.2. It shall be in Licensee’s sole discretion to elect or not elect to exercise the Option.
Upon the later of (i) delivery of the Option Exercise Notice, (ii) if applicable, the receipt of the last applicable Antitrust Clearance and (iii) payment of the applicable Option Exercise Payment, the license set forth in Section 7.1 shall, and thereby does, automatically become effective.
If Mallinckrodt fails to provide such notice, it shall be deemed to have agreed to the decision of the Neutral Expert regarding such milestone payments and it shall be obligated to pay the Option Exercise Payment within [***] days of the Parties’ receipt of the decision of the Neutral Expert.
Confidential treatment has been requested with respect to the omitted portions Payment”); provided, however, that the Option Exercise Payment shall be reduced to [***] for Additional Targets related to Rare Indications and the Option Exercise Payment shall be [***] for Additional Targets related to Very Rare Indications.