GRANT OF PRODUCT OPTION Sample Clauses

GRANT OF PRODUCT OPTION. Subject to the terms and conditions of this Agreement, Xxxxxx Corp. II hereby grants to DURA an option (the "Product Option") to acquire, for all purposes, medical uses and indications without any limitation imposed by Xxxxxx Corp. II, all of Xxxxxx Corp. II's right, title and interest in and to the following (the "Xxxxxx Product Program Assets"): (a) a single Xxxxxx Product (other than the Albuterol Product) developed by DURA pursuant to the Development Agreement for which DURA determines to exercise the Product Option (the "Option Product"), (b) the compound to be delivered by the Option Product, as formulated for use specifically in the Option Product, (c) a perpetual, sublicensable, non-exclusive, royalty-free license to the technology owned by Dura or developed or acquired by Dura during the term of the Development Agreement applicable to the Option Product for use solely with the Option Product, and (d) all applications and documents filed with the FDA or any other regulatory body to obtain regulatory approval to commence commercial sale or use of the Option Product. The tangible manifestations of the Xxxxxx Product Program Assets shall be delivered to DURA promptly following the Product Option Closing Date (as defined in Section 2.5 below).
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GRANT OF PRODUCT OPTION. On the terms and subject to the conditions of this Agreement, CliniChem hereby grants to BioChem an option to acquire all of CliniChem's rights with respect to each CliniChem Product (other than BCH-4556), and to terminate CliniChem's corresponding license with respect thereto, exercisable on a product-by-product and country-by-country basis as described in Section 2.2. With respect to the CliniChem Product BCH-4556, (i) CliniChem hereby grants to TII an option to acquire all of CliniChem's rights, and terminate CliniChem's corresponding license with respect to BCH-4556 in the United States; (ii) CliniChem hereby grants to BioChem an option to acquire all of CliniChem's rights and terminate CliniChem's corresponding license, with respect to BCH-4556 in Canada; and (iii) CliniChem hereby grants to BV an option to acquire all of CliniChem's rights and terminate CliniChem's corresponding license, with respect to BCH-4556 for the world other than the United States and Canada, exercisable on a country-by-country basis.
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GRANT OF PRODUCT OPTION. On the terms and subject to the conditions of this Agreement, Systle hereby grants to SBTK an option to acquire all of Systle's rights with respect to each Systle Product, exercisable on a product-by-product basis as described in Section 6.2.
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Related to GRANT OF PRODUCT OPTION

  • Grant of PSUs For valuable consideration, receipt of which is hereby acknowledged, Hovnanian Enterprises, Inc., a Delaware Corporation (the "Company"), hereby grants the target number (“Target Number”) of performance share units ("PSUs") listed above to the Participant, on the terms and conditions hereinafter set forth. This grant is made pursuant to the terms and conditions of the 2020 Company Second Amended and Restated Stock Incentive Plan (the "Plan"), which Plan, as amended from time to time, is incorporated herein by reference and made a part of this Agreement. The actual number of PSUs, if any, that the Participant will be eligible to earn with respect to this Agreement (the “Earned PSUs”), subject to meeting the applicable service and performance vesting requirements, will equal the Target Number multiplied by the applicable “Performance Multiplier” as defined in Exhibit A hereto. Each Earned PSU represents the unfunded, unsecured right of the Participant to receive a Share on the date(s) specified herein. Capitalized terms not otherwise defined herein shall have the same meanings as in the Plan.

  • Grant of Option The Corporation hereby grants to Optionee, as of the Grant Date, an option to purchase up to the number of Option Shares specified in the Grant Notice. The Option Shares shall be purchasable from time to time during the option term specified in Paragraph 2 at the Exercise Price.

  • Grant of Options Pursuant to, and subject to, the terms and conditions set forth herein and in the Plan, the Company hereby grants to the Participant a NON-QUALIFIED STOCK OPTION (the “Option”) with respect to ___________ shares of Common Stock of the Company.

  • Grant of the Option The Company hereby grants to the Participant the right and option (the “Option”) to purchase, on the terms and conditions hereinafter set forth, all or any part of an aggregate of Shares, subject to adjustment as set forth in the Plan. The purchase price of the Shares subject to the Option shall be $ (the “Option Price”). The Option is intended to be a non-qualified stock option, and is not intended to be treated as an option that complies with Section 422 of the Internal Revenue Code of 1986, as amended.

  • Grant of Proxy Should the provisions of this Agreement be construed to constitute the granting of proxies, such proxies shall be deemed coupled with an interest and are irrevocable for the term of this Agreement.

  • Option Rights Except as provided below, the Option shall be valid for a term commencing on the Grant Date and ending 10 years after the Grant Date (the "EXPIRATION DATE").

  • Voting Agreement Grant of Proxy The Stockholder hereby covenants and agrees that:

  • Manner of Exercising Option (a) In order to exercise this option with respect to all or any part of the Option Shares for which this option is at the time exercisable, Optionee (or any other person or persons exercising the option) must take the following actions: (i) To the extent the option is exercised for vested Option Shares, execute and deliver to the Corporation a Notice of Exercise for the Option Shares for which the option is exercised. To the extent this option is exercised for unvested Option Shares, execute and deliver to the Corporation a Purchase Agreement for those unvested Option Shares. (ii) Pay the aggregate Exercise Price for the purchased shares in one or more of the following forms: (A) cash or check made payable to the Corporation, (B) shares of Common Stock held by Optionee (or any other person or persons exercising the option) for the requisite period necessary to avoid a charge to the Corporation's earnings for financial reporting purposes and valued at Fair Market Value on the Exercise Date, or (C) to the extent the option is exercised for vested Option Shares, through a special sale and remittance procedure pursuant to which Optionee (or any other person or persons exercising the option) shall concurrently provide irrevocable instructions (I) to a Corporation-designated brokerage firm to effect the immediate sale of the purchased shares and remit to the Corporation, out of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate Exercise Price payable for the purchased shares plus all applicable Federal, state and local income and employment taxes required to be withheld by the Corporation by reason of such exercise and (II) to the Corporation to deliver the certificates for the purchased shares directly to such brokerage firm in order to complete the sale. (iii) Furnish to the Corporation appropriate documentation that the person or persons exercising the option (if other than Optionee) have the right to exercise this option. (b) Except to the extent the sale and remittance procedure is utilized in connection with the option exercise, payment of the Exercise Price must accompany the Notice of Exercise (or the Purchase Agreement) delivered to the Corporation in connection with the option exercise. (c) As soon after the Exercise Date as practical, the Corporation shall issue to or on behalf of Optionee (or any other person or persons exercising this option) a certificate for the purchased Option Shares, with the appropriate legends affixed thereto. To the extent any such Option Shares are unvested, the certificates for those Option Shares shall be endorsed with an appropriate legend evidencing the Corporation's repurchase rights and may be held in escrow with the Corporation until such shares vest. (d) In no event may this option be exercised for any fractional shares.

  • Grant of Warrant Subject to the terms, restriction, limitations and conditions stated herein, the Corporation hereby grants to the Warrant Holder the right (the "Warrant") to purchase all or any part of an aggregate of _______________ shares of the Common Stock, subject to adjustment in accordance with Section 7 hereof.

  • Stock Option Grant Subject to the provisions set forth herein and the terms and conditions of the Plan, and in consideration of the agreements of the Participant herein provided, the Company hereby grants to the Participant an Option to purchase from the Company the number of shares of Common Stock, at the exercise price per share, and on the schedule, set forth above.

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