Option Exercise Notice definition

Option Exercise Notice has the meaning in Article 3.5.

Option Exercise Notice shall have the meaning set forth in Section 3.2(a).

Option Exercise Notice has the meaning set forth in Section 5.3.

Examples of Option Exercise Notice in a sentence

• At such time as Artelo provides NEOMED with the Option Exercise Notice pursuant to Section 3.2, Artelo shall assume and shall be responsible for the preparation, filing, prosecution and maintenance of the Licensed Patent Rights, at Xxxxxx’s sole expense.

• In order to exercise the Option, Artelo shall provide a written option exercise notice to NEOMED prior to the expiration of the Option Period (the “Option Exercise Notice”), and as of the date of the receipt of the Option Exercise Notice by NEOMED, the license grant to Artelo set forth in Section 4.1 shall automatically become effective.

• For the abundance of clarity, Xxxxxx shall have the right to exercise the Option by providing the Option Exercise Notice to NEOMED at any point in time during the Option Period.

• Subject to early termination pursuant to the provisions of Sections 12.2, 12.3, 12.4 and 12.5 below, this Agreement shall expire (a) if Artelo does not provide an Option Exercise Notice prior to the expiration of the Option Period, upon the expiration of the Option Period, or (b) if Artelo provides an Option Exercise Notice prior to the expiration of the Option Period, upon the expiration of Xxxxxx’s obligation to pay royalties to NEOMED under Section 5.2.3 above.

• Conditional upon Xxxxxx’s exercise of the Option, as partial consideration for the license granted to Artelo by NEOMED under Section 4.1, within ten (10) business days after the delivery of the Option Exercise Notice by Xxxxxx to NEOMED, Artelo shall pay to NEOMED a license issuance fee of [***].

More Definitions of Option Exercise Notice

Option Exercise Notice shall have the meaning for such term set forth in Section 3.2.2.

Option Exercise Notice is defined in Section 2.2.

Option Exercise Notice means Option Exercise Notice as defined in Paragraph 35.

Option Exercise Notice has the meaning given in Section 8.3(a)(a);

Option Exercise Notice has the meaning set forth in Section 15(b)(i).

Option Exercise Notice means a notice for exercise of Options in accordance with these Rules in the form set out in Annexure 2 or in such other form as the Board may from time to time prescribe.

Option Exercise Notice is defined in Section 3.1(c).