Common use of License Grant Upon Exercise Clause in Contracts

License Grant Upon Exercise. If Licensee exercises one of its Commercial Options for a particular disease indication (after confirmation that the nominated disease indication is available as described in Section 2.1.3), effective only upon Licensor’s receipt of the amounts set forth in, within the period set forth in, Section 2.1.3.4 (the date on which the payments are received in full shall be deemed to be the “Grant Date” for such disease indication), subject to the terms and conditions of this Agreement, including the Retained Rights and including any Excluded Rights, Licensor will be deemed to have granted to Licensee an exclusive, sublicensable (as provided in Section 2.4 only), non-transferable (except as provided in Section 10.2), royalty-bearing, worldwide license, under the Licensed Technology to make, have made, use, import, sell, and offer for sale Licensed Products solely in the Field for the Licensed Indication, including, for the avoidance of doubt, the right to conduct research and development, including conducting pre-clinical and clinical trials.

License Grant Upon Exercise. If Licensee exercises one of its the Commercial Options Option for a particular disease indication (after confirmation that the nominated disease indication is available as described in Section 2.1.3)Disease Indication, effective only upon both (a) Licensor’s receipt of the amounts set forth innotice and (b) in the case of a Secondary Disease Indication, within the period set forth in, fee described in Section 2.1.3.4 2.3.1 for such Secondary Disease Indication (the date on which the payments notice and the fee (if applicable) are received in full shall be deemed to be the “Grant Date” for such disease indicationDisease Indication), subject to the terms and conditions of this Agreement, including the Retained Rights and including any Excluded Rights, Licensor will be deemed to have granted shall grant, and hereby grants, to Licensee an a non-exclusive, sublicensable (as provided in Section 2.4 2.6 only), non-transferable (except as provided in Section 10.2), royalty-bearing, worldwide license, license under the applicable Licensed Technology Commercial Patents to make, have made, use, import, sell, and offer for sale Licensed Products using the Specified Vector solely in the Commercial Field for the Licensed such Disease Indication, including, for the avoidance of doubt, the right to conduct research and development, including conducting pre-clinical and clinical trials.