Additional Option Fee Clause Samples

The Additional Option Fee clause defines the payment required from a party to secure an extra option or right under an agreement, such as extending a lease or purchasing additional goods or services. Typically, this fee is paid upfront or within a specified timeframe and is often non-refundable, serving as consideration for the grant of the additional option. Its core function is to compensate the granting party for providing extra flexibility or rights, while also clarifying the financial terms associated with exercising such options.
Additional Option Fee. Subject to Sections 5.5 and 5.6, Celgene will pay to Bluebird [***] (the “Additional Option Fee”) within [***] after the later to occur of (i) Bluebird’s written notice to Celgene that Bluebird will not exercise the option set forth above in Section 5.2, (ii) Bluebird does not deliver a Bluebird Option Notice to Celgene prior to the expiration of the [***] period following Celgene’s delivery of a Celgene Option Notice to Bluebird, and (iii) the Implementation Date, which Additional Option Fee will, except as otherwise set forth in Sections 4.1(e), 4.3 and 12.6 hereof, Section 10.6 of the License Agreement (if applicable) or Section 17.6 of the Co-Development, Co-Promote and Profit Share Agreement (if applicable), be non-refundable and non-creditable and not subject to set-off.
View SourceView Similar (5)
Additional Option Fee. Millennium shall make the following additional payments to ▇▇▇▇▇▇▇▇, in each case within [***] following the Amendment No. 1 Effective Date: (i) [***] as further consideration for the exclusive option to obtain an exclusive license to DM1; (ii) [***] as further consideration for the exclusive option to obtain an exclusive license to DM2; (iii) [***] as further consideration for the exclusive option to obtain an exclusive license to SM1; (iv) [***] as further consideration for the exclusive option to obtain an exclusive license to [***]; (v) [***] as further consideration for the exclusive option to obtain an exclusive license to [***]; and (vi) [***] as further consideration for the exclusive option to obtain an exclusive license to [***]. The payments described in Section 5.1(d)(i)-(vi) are collectively referred to as the “Additional Option Fee.” 2.7 Section 6.1(b)(i), (iii) and (iv). Section 6.1(b) of the Agreement is hereby amended by deleting subsection (i) therefrom and replacing it with subsection (i) below and deleting subsections (iii) and (iv) therefrom and replacing them with subsections (iii), (iv) and (v) below: (i) as between the Parties, ▇▇▇▇▇▇▇▇ will own and retain all right, title and interest in and to any and all (A) ARC Technology IP, (B) Development Molecule IP, (C) Selected Molecule IP and (D) Combination IP other than Millennium Combination IP (such Intellectual Property is collectively referred to as “▇▇▇▇▇▇▇▇ IP”), in each case that are developed by or on behalf of either Party or their respective Affiliates in the course of performing their obligations under this Agreement (including under the Development Plan);
View Source
Additional Option Fee. If on or before 30 days prior to the last day of the Initial Option Period (i) Buyer has not received any one of the permits described on Schedule 1 attached hereto and made a part hereof (collectively, the “Required Permits”) or (ii) any of the Required Permits are subject to an appellate proceeding, then Buyer may, at its option, elect to extend the Total Option Period (as hereinafter defined) for an additional one year or two years (such extension of the Total Option Period, the “Additional Option Period”) by (A) notifying Seller of its election to extend the Total Option Period by delivering a notice to Seller in the form of Exhibit F attached hereto and incorporated herein by reference (such notice, the “Additional Option Notice”) and (B) delivering to Seller the nonrefundable Additional Option Fee (as hereinafter defined) as the additional independent consideration for the Additional Option Period within five Business Days after Buyer provides the Additional Option Notice to Seller. Buyer’s right to extend the Total Option Period by an Additional Option Period is a one-time right only. The Additional Option Fee shall be applied as partial payment of the Purchase Price at Closing, if Closing occurs. As used herein, the “Additional Option Fee” means either (A) in the event Buyer elects to extend the Total Option Period for an additional one year, $150,000.00 or, alternatively, (B) in the event Buyer elects to extend the Total Option Period for an additional two years, $350,000.00, as the case may be. Both the Initial Option Fee and the Additional Option Fee shall be deemed fully earned and “at risk” upon payment to Seller and nonrefundable to Buyer. As used herein, “Total Option Period” means the Initial Option Period plus the Additional Option Period, if any. For the avoidance of doubt, if ▇▇▇▇▇ does not elect to purchase an Additional Option Period as provided in this Section 2(d), then the Total Option Period shall mean the Initial Option Period.
View Source

Related to Additional Option Fee

  • Option Fee (1) The Joint Venturers will pay the Option Fee to the Water Authority in accordance with the provisions of this clause. (2) No Option Fee will be payable in respect of the Option Term prior to 1 January 1995. (3) Subject to the provisions of this Part, the Option Fee will be payable by the Joint Venturers to the Water Authority quarterly in advance, with the first quarterly payment of the Option Fee being due in respect of the Quarter commencing on 1 January 1995.

  • Additional Options The NYS Contract Price for Additional Options offered under the Contract in accordance with Section III.2.7 Additional Options, shall be the Additional Options NYS Discount listed on the Contract Pricelist, or higher, applied to the MSRP on the current OEM Data Book or Contractor-Published Pricelist, as applicable. See Section III.1.2

  • Termination Fee (a) In the event that this Agreement is terminated by Parent pursuant to Section 7.1(d) or by the Company pursuant to Section 7.1(g) then the Company shall pay to Parent the Company Termination Fee. The Company Termination Fee payable pursuant to this Section 7.3(a) shall be paid no later than the second (2nd) Business Day following termination pursuant to Section 7.1(d) and concurrently (or if the Company Acquisition Agreement is executed on a day not a Business Day, the next Business Day) with any termination pursuant to Section 7.1(g). (b) If (i) after the date of this Agreement but prior to the termination of this Agreement in accordance with its terms, an Acquisition Proposal shall have been publicly announced and not withdrawn, (ii) thereafter, this Agreement is terminated by Parent or the Company pursuant to Section 7.1(b) and (iii) within nine (9) months after such termination, the Company consummates an Acquisition Proposal or enters into an Acquisition Transaction that is subsequently consummated then concurrently with consummating such transaction the Company shall pay to Parent the Company Termination Fee by wire transfer of same-day funds on the date such transaction is consummated; provided that solely for purposes of this Section 7.3(b), all references to 20% in the definition of “Acquisition Transaction” shall be deemed to be references to 50%. (c) In the event that this Agreement is terminated by (i) Parent pursuant to Section 7.1(b) and: (A) at the time of such termination, each of the Offer Conditions has been satisfied or waived (other than (1) the condition set forth in clause “(c)(viii)” of Annex A and (2) the condition set forth in clause “(c)(vii)” of Annex A due to the termination of this Agreement pursuant to Section 7.1(b)); and (B) the failure of the condition set forth in clause “(c)(vii)” of Annex A to be satisfied is not directly attributable to a breach of: (1)

  • Additional Payment In addition to any Spousal Support, in the event of Divorce: (check one)

  • Upfront Fee The Borrower shall pay to the Agent (for the account of each Original Lender) an upfront fee in the amount and at the times agreed in a Fee Letter.