Reacquisition Option definition

Reacquisition Option has the meaning given to it in Section 3.1.
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Reacquisition Option means the right and option of MPDP to reacquire an undivided thirty percent (30%) Interest (for a total 60% Interest) in a Claim Group by reimbursing AMERA for certain expenditures and completing certain drilling pursuant to Section 2.2. Rules shall have the meaning given in Section 6.9. Transfer, Transferring and Transferred shall have the meaning given in Section 5.1.
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Examples of Reacquisition Option in a sentence

  • If Del Mar completes a Financing Transaction on or before the Reacquisition Trigger Date or the Reacquisition Option Period expires without Valent having validly exercised the Reacquisition Option, then the Reacquisition Option will expire and be of no further force or effect, and will no longer be exercisable by Valent.

  • Penwest must exercise the Reacquisition Option by delivering written notice to Trevi within [**] of delivery to Penwest by Trevi of the Phase 2 Data Package (the “Exercise Notice”).

  • Until such time as Del Mar completes a Financing Transaction or the Reacquisition Option Period expires (the “Patent Prosecution Consultation Period”), Del Mar shall keep Valent informed on an ongoing basis regarding filing, prosecution and maintenance of the Assigned Patents and any actions which require to be taken in relation thereto.

  • Within thirty (30) days after completion of the drilling required to exercise the Reacquisition Option, MPDP shall prepare and deliver to AMERA (i) drill logs of the drilling completed, and (ii) a thorough technical report of the data and interpretations derived from such drilling, including all assays and geochemical, geophysical and geological analyses made.

  • Any dispute, controversy or claim arising out of or relating to this Agreement (other than a dispute about terms pursuant to Vertex’s exercise of its Reacquisition Option under Section 3.7(b)) that the Parties have not resolved under Section 10.1, will be decided by arbitration in accordance with the Rules of the American Arbitration Association for Commercial Arbitration in effect at the time the dispute arises, unless the Parties hereto mutually agree otherwise.

  • Upon timely completion of such reimbursement and drilling by MPDP, MPDP shall have exercised the Reacquisition Option and shall have an initial undivided sixty prevent (60%) Interest in the Property and AMERA shall have an initial undivided forty percent (40%) Interest therein.

  • If the Company exercises the Misconduct Reacquisition Option to reacquire any Incentive Common Shares as set forth herein, the Company shall give the Grantee notice specifying the number of Incentive Common Shares that the Company is electing to reacquire (“Notice of Misconduct Reacquisition”), which notice shall be signed by an officer of the Company and delivered as provided in Section 10.1 of this Agreement.

  • At any time after final disposition of MPDP’s Reacquisition Option and formation of a Joint Venture Company with respect to a Claim Group, the Parties shall cause the title to the concessions comprising the Claim Group to be conveyed to the Joint Venture Company.

  • Upon timely completion of such reimbursement and drilling by MPDP, MPDP shall have exercised the Reacquisition Option and shall have an initial undivided sixty percent (60%) Interest in such Claim Group and AMERA shall have an initial undivided forty percent (40%) Interest therein.

  • If IntraBiotics does not timely exercise its Reacquisition Option, and does not start any clinical development activity for Topical Products by [*], then all rights in and to Topical Products shall revert to Biosearch effective [*], and IntraBiotics shall have no rights to make, have made, use, import, offer, sell, offer for sale and have sold Licensed Products in the Field and in the Territory.