Exclusivity during Option Period Clause Samples
The 'Exclusivity during Option Period' clause establishes that, for a specified period, one party has the exclusive right to negotiate or exercise an option regarding a particular transaction or asset. During this option period, the granting party is typically prohibited from negotiating, selling, or entering into agreements with third parties concerning the subject matter of the option. For example, in a licensing or acquisition context, the seller cannot entertain offers from other potential buyers while the option holder decides whether to proceed. This clause ensures that the option holder has a fair and undisturbed opportunity to evaluate and potentially exercise their rights, thereby preventing competitive interference and providing certainty during negotiations.
Exclusivity during Option Period. During the Option Period, subject to the [*****] Agreement, and CureVac’s right to enter into further Government and NGO Contracts regarding the development, manufacturing and/or supply of First-Gen COVID Vaccine Products in accordance with Section 2.7.4, CureVac shall not grant any rights to a Third Party for the commercialization of First-Gen COVID Vaccine Products in the Field without GSK’s express, written waiver of its rights under the Exclusive Option, which GSK may grant or withhold in its sole discretion. As between the Parties, if GSK does not exercise its Exclusive Option within the Option Period, CureVac shall have no further obligations towards GSK regarding the licensing of any rights for Development, Manufacture or Commercialization of the First-Gen COVID Vaccine Products, and shall be free to develop, manufacture and commercialize the First-Gen COVID Vaccine Products solely or in collaboration with Third Parties.
Exclusivity during Option Period. Subject to Section 3.7.8, CureVac's obligations as set forth in items (ii) and (iii) of the Disclosure Letter, during the Option Period, CureVac shall not commercialize, and shall not grant any rights to a Third Party for the development or commercialization of any prophylactic or therapeutic mRNA-Based vaccine or mRNA-Based antibody targeting a Pathogen other than an Excluded Pathogen in the Field without GSK's express, written waiver of its rights under the Exclusive Option, which GSK may grant or withhold in its sole discretion. For clarity, subject to Section 2.3.2, the Exclusive Option granted to GSK does not prevent CureVac from initiating or continuing internal Development programs for mRNA-Based vaccines or Antibodies.
Exclusivity during Option Period. Throughout the Option Period Quark shall not initiate, solicit, discuss, negotiate or enter into any agreement or arrangement with any Third Party regarding any:
(a) license, assignment or other disposition of any of its rights (also by way of granting an option similar to the Option) in any Quark Compound, Product or [*] Quark Technology to any Third Party; or
(b) collaboration or license agreement with any Third Party in connection with the development and/or commercialization of any [*].
Exclusivity during Option Period. Subject to Section 4.3, during the Option Period, myNEO and its Affiliates shall not develop, manufacture or commercialize any products targeting one of the [*****] Targets and shall not grant any rights to a Third Party with respect to the development, manufacture or commercialization of products targeting one of the [*****] Targets. For the avoidance of doubt, in case CureVac does not exercise its Exclusive Options within the Option Period, myNEO shall have no further obligations with respect to the respective [*****] Targets towards CureVac under this Agreement.
Exclusivity during Option Period