Extension of Option Term Sample Clauses

Extension of Option Term. CELGENE shall have the right, in its sole discretion, to extend the Option Term for one (1) additional year upon written notice to EPIZYME at least [**] days before expiration of the initial Option Term and payment to EPIZYME of the Extension Fee as set forth in Section 6.3.
Sample 1Sample 2
AutoNDA by SimpleDocs
Extension of Option Term. The Option Term is hereby extended to end on June 10, 2020. There shall be no additional unilateral Extensions of the Option Term by Optionee.
Sample 1
Extension of Option Term. At any time prior to the expiration of the Option Term, ACY may extend the expiration date of such term until the second Anniversary Date by funding research and development to be conducted by Apollon by payment of an additional non-refundable up-front R&D Payment of THIS EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST. REDACTED MATERIAL IS BRACKETED AND HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. $[ ] (in consideration of further research and development related to each of the [ ] Application and [ ] Application, however applicable). In the event that ACY shall have elected to so extend the expiration date, ACY may, at any time prior to said second Anniversary Date, further extend the expiration date of the Option Term until the third Anniversary Date by continuing said funding of Apollon with a second additional non-refundable R&D Payment equal to $[ ] (in consideration of further research and development related to each of the [ ] Application and [ ] Application, however applicable).
Sample 1
Extension of Option Term. In the event that the Parties have not completed the Research Activities set forth in the then-current Research Plan prior to the [***] anniversary of the Effective Date, then the Option Term will automatically be extended for one additional [***] period.
Sample 1
Extension of Option Term. Optiva shall have the right to extend the Option Term until as late as June 30, 1999. Optiva shall exercise such right, if at all, on a monthly basis by notifying Developer on or before the expiration of the Option Term, as it may have been previously extended, that it desires to extend the Option Term. Such notice shall be accompanied by a cash extension payment to Developer in the amount of $25,000 for each of January 1999, February 1999 and March 1999, and $50,000 for each of April 1999, May 1999 and June 1999 ("Extension Payments') whereupon the Option Term shall be extended until the end of such month.
Sample 1
Extension of Option Term. As long as Buyer is not in material breach of this Agreement, Buyer shall have the right to three (3) one (1) year extensions to the Initial Option Term (each an “Extension Option”). In the event Buyer wishes to exercise an Extension Option, Buyer may do so by delivering written notice thereof to Seller on or before the expiration of the Initial Option Term, or the extended term if Buyer has previously exercised an extension or extensions thereof (“Extended Option Term”), together with the payment by Buyer to Seller of additional consideration in the amount of Twenty Five Thousand Dollars ($25,000.00) for each Extension Option (the “Extension Option Consideration”).
Sample 1
Extension of Option Term. The Option Term under Section 3(a) of the Option Contract is hereby extended until December 31, 2021. Purchaser may elect by written notice to Seller to extend the option until December 31, 2022 if, as of December 1, 2021, the Exchange is still in process, but has not closed and is not expected to close during the Option Term.
Sample 1
AutoNDA by SimpleDocs

Related to Extension of Option Term

  • Term of Option This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement.

  • Term of Options Unless the Options terminate earlier pursuant to the provisions of this Agreement or the Plan, the Options shall expire on the seventh (7th) anniversary of the Grant Date (“Option Expiration Date”).

  • Extension Term Provided Lessee is not in default in the performance of any term or condition of this Lease, Lessee shall have the option to extend this Lease for two (2) additional terms of five (5) years per term, commencing with the expiration of the first or additional term, upon the following conditions:

  • Expiration of Option The Option may not be exercised to any extent by anyone after the first to occur of the following events:

  • Option Term This option shall have a term of ten (10) years measured from the Grant Date and shall accordingly expire at the close of business on the Expiration Date, unless sooner terminated in accordance with Paragraph 5 or 6.

  • Extension Option The Borrower may request that the Commitments be extended for up to two additional one year periods by providing not less than 30 days’ written notice (the date of such notice, a “Notice Date”) to the Administrative Agent prior to any anniversary of the Closing Date. If a Bank agrees, in its individual and sole discretion (and with the approval of the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned), to extend its Commitment (such Bank, an “Extending Bank”), it will notify the Administrative Agent, in writing, of its decision to do so no later than 15 days after the applicable Notice Date (such extension decision, a “Commitment Extension”). The Administrative Agent will notify the Borrower, in writing, of the Banks’ decisions promptly upon receipt thereof and in any event not later than one (1) Business Day after receipt thereof. The Extending Banks’ Commitments will be extended for an additional year from the then current Maturity Date so long as (i) the Commitments of the Extending Banks (after giving effect to any assumption by any Extending Banks of Commitments of Declining Banks as described below), together with the Commitments of any New Banks that replace any Declining Banks, represent more than 50% of the Total Commitments then in effect, and (ii) on the date of any request by the Borrower to extend the Commitments, the applicable conditions set forth in Section 5.3 shall be satisfied. No Commitment Extension shall result in the then-existing Maturity Date being more than five (5) years from the effective date of such Commitment Extension. No Bank shall be required to consent to any such extension request or be required to increase its Commitment. The Maturity Date with respect to any Bank that declines or does not respond to the Borrower’s request for an extension of the Commitments (a “Declining Bank”) shall remain the then-existing Maturity Date (without regard to any extension of the Commitments of other Banks); provided that the Borrower shall continue to have the right to replace any such Declining Bank (with respect to all or any portion of its Commitment) following the effectiveness of any such extension. The Borrower will have the right to accept Commitments from any Eligible Assignee that is not a Bank in an aggregate amount up to the aggregate amount of the Commitments of any Declining Banks; provided that any Eligible Assignee proposed to be substituted for a Declining Bank (unless such Eligible Assignee is an affiliate of a Bank) must be approved by the Administrative Agent, the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned. The Borrower may only extend the Maturity Date twice during the term of this Agreement pursuant to this Section 2.7.

  • Extension Options Subject to the provisions of this Section 2.7, Borrower shall have the option (the “First Extension Option”), by written notice (the “First Extension Notice”) delivered to Lender no later than ten (10) days prior to the Initial Stated Maturity Date, to extend the Maturity Date to November 7, 2022 (the “First Extended Maturity Date”, and such extended term, the “First Extended Term”). In the event Borrower shall have exercised the First Extension Option, Borrower shall have the option (the “Second Extension Option”), by written notice (the “Second Extension Notice”) delivered to Lender no later than ten (10) days prior to the First Extended Maturity Date, to extend the First Extended Maturity Date to November 7, 2023 (the “Second Extended Maturity Date”, and such extended term, the “Second Extended Term”). In the event Borrower shall have exercised each of the First Extension Option and the Second Extension Option, Borrower shall have the option (the “Third Extension Option”), by written notice (the “Third Extension Notice”) delivered to Lender no later than ten (10) days prior to the Second Extended Maturity Date, to extend the Second Extended Maturity Date to November 7, 2024 (the “Third Extended Maturity Date”, and such extended term, the “Third Extended Term”). The First Extension Notice shall be revocable at any time and for any reason by Borrower prior to the Initial Stated Maturity Date, the Second Extension Notice shall be revocable at any time and for any reason by Borrower prior to the then First Extended Maturity Date and the Third Extension Notice shall be revocable at any time and for any reason by Borrower prior to the then Second Extended Maturity Date, but Borrower shall pay Lender’s actual out-of-pocket expenses incurred in connection with such revocation (excluding breakage costs). Borrower’s right to so extend the Maturity Date shall be subject to the satisfaction of the following conditions precedent prior to each extension hereunder:

  • Expiration of Options Except as otherwise provided in Section 5 or 6 of the Management Stockholder's Agreement, the Options may not be exercised to any extent by the Optionee after the first to occur of the following events:

  • Modification, Extension and Renewal of Options The Board or a duly appointed committee thereof, may modify, extend or renew this Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Code and applicable securities laws. Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Recipient, alter to the Recipient’s detriment or impair any rights of Recipient hereunder.

  • Extension of Exercise Period Notwithstanding any provisions of paragraphs (a), (b), (c) or (d) of this Section to the contrary, if exercise of the Option following termination of employment during the time period set forth in the applicable paragraph or sale during such period of the Shares acquired on exercise would violate any of the provisions of the federal securities laws (or any Company policy related thereto), the time period to exercise the Option shall be extended until the later of (i) forty-five (45) days after the date that the exercise of the Option or sale of the Shares acquired on exercise would not be a violation of the federal securities laws (or a related Company policy), or (ii) the end of the time period set forth in the applicable paragraph.

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