Licensor’s Option definition

Licensor’s Option. Licensor shall have the option, at Licensor’s sole discretion, to terminate this License at any time within three (3) years of the date of this Agreement upon written notice to Licensee. In the event that Licensor exercises this option, Licensor shall pay to Licensee a sum equal to Two Hundred Percent (200%) of the License Fee paid by Licensee. Upon Licensor’s exercise of the option, Licensee must immediately remove the New Song from any and all digital and physical distribution channels and must immediately cease access to any streams and/or downloads of the New Song by the general public.
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Examples of Licensor’s Option in a sentence

  • Licensor’s Option: Licensor shall have the option, at Licensor’s sole discretion, to terminate this License at any time within three (3) years of the date of this Agreement upon written notice to Licensee.

Related to Licensor’s Option

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

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

  • 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.

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

  • 'Survivor's Option means, where applicable, the right of a holder of a Note to require the Company to repay such Note prior to its Stated Maturity upon the death of the owner of such Note, subject to the provisions hereof relating to such option."

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

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Transferable development right means a right to develop and use land that

  • 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.

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

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

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

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

  • ISO means an employee incentive stock option described in Section 422(b) of the Code.

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

  • Compensation Options has the meaning ascribed thereto on the face page of this Agreement;

  • Share Option means a Nonqualified Share Option or an Incentive Share Option.

  • 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.

  • SAR means a stock appreciation right granted under the Plan.

  • Reload Option means any Option granted under Section 6(a)(iv) of the Plan.

  • Licensee has the meaning set forth in the preamble.

  • Tandem Appreciation Right means an Appreciation Right granted pursuant to Section 5 of this Plan that is granted in tandem with an Option Right.

  • Option to Extend has the meaning given that term in Section 2.13.

  • Sublicense means any agreement to Sublicense.

  • Sublicensee means a third party to whom LICENSEE grants a sublicense of certain rights granted to LICENSEE under this Agreement.

  • Option 3 [ ] A Participant satisfies the Plan's Early Retirement Age conditions by attaining age ________ (not less than 55) and completing ________ Years of Vesting Service.