Product Option definition
Examples of Product Option in a sentence
Following GSK’s exercise of its Product Option, but not later than twelve (12) months prior to the first expected NDA filing for such Product Candidate targeting ▇▇▇▇, ▇▇▇ shall provide to ChemoCentryx a detailed development plan and associated budget for the conduct of the Dossier Studies for such Licensed Product targeting CCR9 (the “Development Plan and Budget”).
The obligations set forth in this Section 4.1.3 shall not include any obligation to disclose matters unrelated to the application of the Program Technology to the ▇▇▇▇▇▇ Products, matters with respect to the Albuterol Product (following the exercise of the Albuterol Option) or matters with respect to the Option Product (following the exercise of the Product Option).
Such option shall be exercisable at any time after the payment to Baylor of the Future Non-Oncology Product Option Payment under Section 3.2(c), by written notice to Baylor thereof.
II hereby grants DURA effective upon the exercise of the Product Option, an exclusive, royalty-free, irrevocable, perpetual, worldwide license to use the Program Technology to develop, have developed, make, have made, use, sell, have sold, supply and import the Option Product.
Following such confirmation, GSK shall have the right to exercise its Product Option with respect to CCX282 in accordance with Section 4.3.1(b) and Article 4.