Commercial Option definition

Commercial Option has the meaning set forth in Section 2.3.
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Commercial Option has the meaning set forth in Section 4.
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Commercial Option has the meaning set forth in Section 3.3(a).
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Examples of Commercial Option in a sentence

  • Licensee may exercise each Commercial Option at any time prior to the […***…] of the Effective Date (the “Election Term”); provided that Licensee may extend the Election Term for an additional […***…] at any time prior to the […***…] of the Effective Date by providing written notice to Licensor of such extension and simultaneously paying Licensor a fee of […***…], which notice and payment must be received by Licensor at least […***…] prior to the […***…] of the Effective Date.

  • Following the exercise of a Commercial Option, Licensee will use commercially reasonable efforts to develop, commercialize, market, promote, and sell Licensed Products for each of the Licensed Indications within the Field.

  • Licensee shall pay Licensor a fee of $1,000,000 upon exercise of each Commercial Option, in accordance with clause (a) of Section 2.1.3.4.

  • For clarity, Licensee shall owe an annual maintenance fee for each Licensed Indication with respect to which a license was granted under Section 2.1 upon exercise of each Commercial Option.

  • Without limiting Section 4.1, Licensee will meet the following milestones for each Licensed Indication with respect to which a Commercial Option is exercised: Event Date Filing of an investigational new drug application with the FDA for the proposed initial clinical trial of a Licensed Product targeting the Licensed Indication […***…] from the Grant Date for the Licensed Indication Licensee will provide Licensor written notice within […***…] of the accomplishment of the foregoing milestone.

  • BAT and 22nd Century entered into that certain Research License and Commercial Option Agreement dated as of September 30, 2013 (the “Research License Agreement”), in which 22nd Century granted BAT an exclusive option to enter into this Agreement.

  • In consideration of the rights and licenses granted to Licensee under Section 2.1 with respect to the exercise of a given Commercial Option, Licensee shall pay Licensor on-going annual maintenance fees of $50,000 for the Licensed Indication associated with such Commercial Option, which annual maintenance fee will be paid on the next-occurring anniversary of the Effective Date following the Grant Date for such Licensed Indication.


More Definitions of Commercial Option

Commercial Option has the meaning set forth in Section 5.1.
Sample 1

Related to Commercial Option

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Renewal Option has the meaning set forth in §12.1.

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • First Extension Option shall have the meaning set forth in Section 2.6.1 hereof.

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

  • Director Option means an Option granted pursuant to Section 6.

  • Top-Up Option has the meaning set forth in Section 1.04(a).

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

  • Second Extension Option shall have the meaning set forth in Section 2.6.1 hereof.

  • Covered Call Option means an exchange traded option entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities (excluding Futures Contracts) which are owned by the writer thereof and subject to appropriate restrictions.

  • Vested Option means any Option, which has already been vested according to the Vesting Dates.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Option Notice has the meaning set forth in Section 5.2(a).

  • Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.

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

  • Call Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities.

  • Performance Option means an Incentive Stock Option or Nonqualified Stock Option, the grant of which or the exercisability of all or a portion of which is contingent upon the attainment of specified Performance Measures within a specified Performance Period.

  • Option Period means the period during which an Option may be exercised.

  • Conversion Option means the Company’s option to convert some or all of the Series D Preferred Stock into that number of shares of Common Stock that are issuable at the then-applicable conversion rate as described in Section 8(c) of these Articles Supplementary.

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to exercise the Option.

  • Call Option Period has the meaning given to it in Condition 6.04 (Call Option);

  • Option Grant Date means, as to any Stock Option, the latest of: