Initial Option Period. The Initial Option Period shall start on the 13th day of November, 2006 and end on the 13th day of May, 2007.
Initial Option Period. With respect to each CCF INVENTION and JOINT INVENTION, the OPTION will remain in effect from COMPANY’s receipt of the corresponding INVENTION DISCLOSURE until the earlier of *** after the expiration of the TERM of the JDA or until the OPTION is exercised under Paragraph 6.1.2 (Exercise of OPTION) (“OPTION PERIOD”) unless terminated earlier under Paragraph 8.2 (Expiration/Termination of JDA and OPTION). Redactions with respect to certain portions hereof denoted with “***”
Initial Option Period. The OPTION will remain in effect until the earlier of one hundred and twenty (120) days after the expiration of the TERM of the JDA, or until the OPTION is exercised under Paragraph 6.1.2 (Exercise of OPTION) ("OPTION PERIOD") unless terminated earlier under Paragraph 7.2 (Expiration/Termination of JDA and OPTION).
Initial Option Period. The "Initial Option Period" shall begin on the thirteen month anniversary of the execution of this Agreement and shall end on the twenty-sixth month anniversary of the execution of this agreement.
Initial Option Period. The Option may be exercised by written notice given at any time commencing as of the date of this Agreement and ending twenty-four (24) months following satisfaction of the Conditions Precedent set forth in Paragraph 1. above (the "Initial Option Period"), subject to extension as set forth below.
Initial Option Period. In consideration of Owner's grant to WDP of the Option, WDP shall pay Owner the sum of $300,000 (the "Initial Option Fee") upon execution and delivery of this Agreement by Owner to WDP and satisfaction of the Conditions Precedent set forth in Paragraph 1. above (whichever last occurs), which Initial Option Fee shall be fully applicable against the "Purchase Price" set forth in Paragraph 2.6 below.
Initial Option Period. The Initial Option Period shall start on July 25, 2007 and end on November 30, 2007.
Initial Option Period. The Option shall commence on the Effective Date and continue until 11:59 p.m. on the date which is one (1) calendar year from the Effective Date (the “Initial Option Period”), unless same is extended pursuant to the provisions of Section 4, below.
