Option Exercise Payment. In consideration of Licensee’s exercise of the Option during the Option Period, Licensee shall pay to Kineta a one-time payment in the amount of (i) [***] if the Lead Option is exercised pursuant to Section 4.3.2(a)(i) or if the Back-up Option is exercised pursuant to Section 4.3.2(b); or (ii) [***] if the Lead Option is exercised pursuant to Section 4.3.2(a)(ii) (the “Option Exercise Payment”). Such Option Exercise Payment shall be made in accordance with Section 6.3.5, and shall be non-creditable and non-refundable.
Option Exercise Payment. Within thirty (30) days of each exercise by Merck of the Merck Option for an Option Subject Compound under Section 5.3, Merck shall pay to NGM a non-refundable, non-creditable option exercise payment of Twenty Million Dollars ($20,000,000.00) (each, an “Option Fee”); provided, however, that, in the event that Antitrust Approvals are required, in connection with the exercise of a particular Merck Option, in accordance with Section 16.17.2, then such payment shall not be due until the later of [*] days of such exercise or the receipt of such Antitrust Approvals; provided, further, that, if any requisite Antitrust Approval is not received or is no longer being sought, then:
(a) Merck shall promptly notify NGM; (b) such Merck Option will be deemed to not have been exercised within the applicable Option Period; (c) no Option Fee will be due in connection with such Merck Option; (d) no rights or licenses will be granted pursuant to Section 5.4 in connection with such Merck Option; and (e) the relevant POC Compound and its Related Compounds shall not become Optioned Compounds but instead shall be deemed to have been rejected by Merck for a Technical Issue (regardless of how such an issue is described in Section 5.3.3) and shall be subject to Section 5.3.3. For clarity no Option Fee shall be payable with respect to any NP201 Compounds, which are subject to the exclusive license set forth in Article 3 as of the Effective Date.
Option Exercise Payment. With respect to each Option exercised by AZ, AZ shall pay to Silence the non-refundable, non-creditable sum of Ten Million Dollars ($10,000,000) (the “Option Exercise Payment”) within [***] days after receipt by AZ of Silence’s invoice delivered on or after the Option Exercise Effective Date, provided that, if a Licensed Product directed to two (2) Selected Targets is developed, Silence shall invoice and AZ shall be required to pay the Option Exercise Payment once per Selected Target to which such Licensed Product is directed.
Option Exercise Payment. In consideration of the upfront payment to Silence pursuant to Section 8.1, Mallinckrodt shall have the right to exercise its Option for up to two (2) Complement Targets for no additional payment. For the avoidance of doubt Mallinckrodt has been granted rights in relation to the C3 Target as of the Effective Date and so the C3 Target will not count towards the two (2) Complement Targets referred to in this Section 3.2. If Mallinckrodt exercises its Option with respect to more than two (2) Complement Targets, then with respect to each Option exercised by Mallinckrodt for an additional (in excess of two (2)) Complement Target, Mallinckrodt shall pay to Silence the non-refundable, non-creditable sum of [***] (the “Option Exercise Payment”) within [***] days after the exercise of such Option or, if later, upon the final determination of the Parties of the development and sales milestones payable in respect of Licensed Products directed to such Target, in accordance with Sections 8.4.3 and 8.5.3 below.
Option Exercise Payment. In partial consideration of the licenses and rights granted to Novartis hereunder, Novartis shall pay to MPAG a one-time, non-refundable, non-creditable option exercise payment of one hundred fifty million Swiss francs (CHF 150,000,000) within [***] after receipt by Novartis of an invoice in the form of Exhibit E from MPAG, which invoice shall be issued by MPAG no earlier than the Effective Date.
Option Exercise Payment. Upon exercise of both options, Cortex shall invoice Servier for the Purchase Price. Within [***] ([***]) Business Days of receipt, LLS shall pay the $2,000,000 Purchase Price as set forth in Section 2.3, above. Such amount shall be paid by wire transfer of immediately available funds to the account designated by Cortex.
Option Exercise Payment. In partial consideration of the rights granted under this Agreement, upon the terms and conditions contained here, in the event OV elects to exercise the Exclusive Option following the expiration of the R-Pharm Option Term (where R-Pharm has not entered into a Reacquistion Agreement) in accordance with Section 2.2, OV shall pay R-Pharm a non-refundable, non-creditable payment of [***], which shall be paid by OV to R-Pharm within thirty (30) days of the Option Exercise Date.
Option Exercise Payment. Each time Genzyme exercises an Option pursuant to Section 2.4 (Option Exercise) for a Specified Capsid, Genzyme shall pay the following non-refundable, non-creditable payments to Voyager (each “Option Exercise Payment”): First time Option is exercised for such Specified Capsid $1,000,000 Second time Option is exercised for such Specified Capsid $1,000,000 Genzyme shall pay each Option Exercise Payment within [**] after receipt of an invoice from Voyager for such Option Exercise Payment after the date on which Genzyme provides the applicable Option Exercise Notice.
Option Exercise Payment. Licensee shall pay to Licensor a non-refundable, non-creditable option exercise fee Six Hundred Thousand U.S. Dollars ($600,000). Licensor shall provide an invoice for such option exercise fee promptly upon request of Licensee.
Option Exercise Payment. A payment of $[*] (“Option Exercise Payment”) shall be paid by Kuur to Baylor for the exercise of the Future Oncology Option as to each Future Oncology Invention or Trigger Oncology Product, as the case may be, or for the exercise of the Future Non-Oncology Option with respect to each Future Non-Oncology Invention or Trigger Non-Oncology Product, as the case may be, in each case for which Kuur exercises the applicable option, in accordance with Sections 3.1, 3.2 and 3.4.
