Exercise of Artiva Originated Product Option Sample Clauses

Exercise of Artiva Originated Product Option. Artiva may, in its sole discretion, exercise the Artiva Originated Product Option with respect to each Artiva Originated Product (the “Artiva Originated Product Option Exercise”) at any time during the applicable Artiva Originated Product Option Exercise Period upon delivery of written notice of exercise of such Artiva Originated Product Option to GCLC (the “Artiva Originated Product Exercise Notice”). Upon exercise of an Artiva Originated Product Option for an Artiva Originated Product in accordance with this Section 5.8, such Artiva Originated Product shall be deemed an “Exercised Artiva Originated Product.” GCLC hereby grants to Artiva an exclusive (even as to GCLC), royalty-bearing license, worldwide solely with respect to such Exercised Artiva Originated Product, with the right to sublicense through multiple tiers, under the GCLC Core Technology and GCLC’s interest in Joint Inventions and Joint Patents, to research, develop, make, have made, use, offer for sale, sell and import such Exercised Artiva Originated Product in the Field (each, a “Worldwide Artiva Originated Product License”), which Worldwide Artiva Originated Product License shall automatically be effective upon exercise of the Artiva Originated Product Option for such Exercised Artiva Originated Product, and thereafter the Core IP Royalty solely with respect to such Exercised Artiva Originated Product shall be increased from [***] to [***] of worldwide Net Sales of such Exercised Artiva Originated Product for the Core IP Royalty Term, subject to the applicable adjustments in accordance with Section 6.1(e) below.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs

Related to Exercise of Artiva Originated Product Option

  • Exercise of Option The Over-allotment Option granted pursuant to Section 1.2.1 hereof may be exercised by the Representative as to all (at any time) or any part (from time to time) of the Option Units within 45 days after the effective date (“Effective Date”) of the Registration Statement (as defined in Section 2.1.1 hereof). The Underwriters will not be under any obligation to purchase any Option Units prior to the exercise of the Over-allotment Option. The Over-allotment Option granted hereby may be exercised by the giving of oral notice to the Company by the Representative, which must be confirmed in accordance with Section 10.1 herein setting forth the number of Option Units to be purchased and the date and time for delivery of and payment for the Option Units (the “Option Closing Date”), which will not be later than five (5) full Business Days after the date of the notice or such other time and in such other manner as shall be agreed upon by the Company and the Representative, at the offices of EG&S or at such other place (including remotely by facsimile or other electronic transmission) as shall be agreed upon by the Company and the Representative. If such delivery and payment for the Option Units does not occur on the Closing Date, the Option Closing Date will be as set forth in the notice. Upon exercise of the Over-allotment Option, the Company will become obligated to convey to the Underwriters, and, subject to the terms and conditions set forth herein, the Underwriters will become obligated to purchase, the number of Option Units specified in such notice.

  • Exercise of Warrants (a) During the period specified in Section 2.2, the Warrants may be exercised to purchase a whole number of Warrant Securities in registered form by providing certain information as set forth on the reverse side of the Warrant Certificate and by paying in full, in lawful money of the United States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available funds] the Warrant Price for each Warrant Security with respect to which a Warrant is being exercised to the Warrant Agent at its corporate trust office, provided that such exercise is subject to receipt within five business days of such payment by the Warrant Agent of the Warrant Certificate with the form of election to purchase Warrant Securities set forth on the reverse side of the Warrant Certificate properly completed and duly executed. The date on which payment in full of the Warrant Price is received by the Warrant Agent shall, subject to receipt of the Warrant Certificate as aforesaid, be deemed to be the date on which the Warrant is exercised; provided, however, that if, at the date of receipt of such Warrant Certificates and payment in full of the Warrant Price, the transfer books for the Warrant Securities purchasable upon the exercise of such Warrants shall be closed, no such receipt of such Warrant Certificates and no such payment of such Warrant Price shall be effective to constitute the person so designated to be named as the holder of record of such Warrant Securities on such date, but shall be effective to constitute such person as the holder of record of such Warrant Securities for all purposes at the opening of business on the next succeeding day on which the transfer books for the Warrant Securities purchasable upon the exercise of such Warrants shall be opened, and the certificates for the Warrant Securities in respect of which such Warrants are then exercised shall be issuable as of the date on such next succeeding day on which the transfer books shall next be opened, and until such date the Company shall be under no duty to deliver any certificate for such Warrant Securities. The Warrant Agent shall deposit all funds received by it in payment of the Warrant Price in an account of the Company maintained with it and shall advise the Company by telephone at the end of each day on which a payment for the exercise of Warrants is received of the amount so deposited to its account. The Warrant Agent shall promptly confirm such telephone advice to the Company in writing.

Time is Money Join Law Insider Premium to draft better contracts faster.