Option Extension Payment Clause Samples

Option Extension Payment. Notwithstanding anything to the contrary in Section 10.5.1 above, if at any time prior to the date on which the Rights in the Property would otherwise revert to Owner Company makes to Owner the "Extension Payment" as defined below, then all time periods above shall be automatically extended for an additional 8 years from the date any of the Rights would otherwise revert to Owner hereunder. The Option Extension Payment means the amount of $2,000,000, eighty percent (80%) of which ($1,600,000) shall be applicable against any payments due pursuant to Section 12 herein and twenty percent (20%) ($400,000) shall be applicable against any payments to ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Productions f/s/o ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ pursuant to the Producing Agreement dated as of February 15, 2002 for any subsequent productions which commence in that period.

Option Extension Payment. Licensee may pay to Kineta a one-time payment in the amount of [***] (which shall be non-creditable and non-refundable) to extend the Option Period from three (3) months after Licensee’s receipt of an IND Filing Package for a Licensed Product to four (4) months after Licensee’s receipt of the Phase I Data Package for such Licensed Product (the “Option Extension Payment”). 4. Except as set forth herein, no other changes are made to the Agreement and all other terms and conditions of the Agreement remain in full force and effect. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one or the same instrument.

Option Extension Payment. Subject to the provisions of Section 3.1, on a Collaboration Program-by-Collaboration Program basis, if Allergan desires to extend the Option for a Collaboration Program through the Extended Option Exercise Period, Allergan shall pay to Exicure a one-time Option extension payment in the amount of Ten Million USD ($10M) (the “Option Extension Payment”). Any such Option Extension Payment shall be payable within five Business Days of Allergan’s delivery of the applicable Extension Exercise Notice.

Option Extension Payment. In consideration of Licensee extending the Option, no later than thirty (30) calendar days upon receipt of an invoice after the 2nd Amendment Effective Date, Licensee will pay to Kineta a one-time payment in the amount of $11,000,000 (which shall be non-creditable and non-refundable) to extend the Option Period from three (3) months after Licensee’s receipt of an IND Filing Package for a Licensed Product to three (3) months after Licensee’s receipt of the Phase I Data Package for such Licensed Product (the “Option Extension Payment”). 3. After the Option Extension Payment is paid to Kineta and the Pilot HEMP (Human Experimental Models of Pain) study is completed, Kineta will provide Licensee with the SAD, MAD, and Pilot HEMP study data and Licensee will then have sixty (60) days from receipt of such data submission to determine and notify Kineta, in its sole discretion, if the Pilot HEMP study meets the criteria to warrant proceeding to a HEMP Phase Ib study. If Licensee chooses to proceed, Kineta will be paid, within thirty (30) days of such notification, a milestone payment of $3,500,000 prior to the initiation of such Phase Ib trial (the “Interim Phase I Milestone Payment”). If Licensee chooses not to proceed with the HEMP Phase Ib study or fails to notify Kineta of their intention to proceed within such 60 days, Licensee will not pay the Interim Phase I Milestone Payment and the Lead Option will be terminated with immediate effect unless otherwise mutually agreed to by the Parties. 4. The Lead Option Period defined in Section 4.3.2(a)(ii) of the Agreement is hereby reduced from four (4) months to three (3) months after delivery by Kineta to Licensee of the Phase I Data Package for such Licensed Product. 5. Exhibit A of the Agreement is hereby replaced with the attached Exhibit A. This includes Phase I Clinical Trial SAD/MAD and HEMP protocols (previously pages A-21 through A-44 in the Agreement), being replaced entirely with the SAD/MAD/Pilot HEMP protocol synopsis and HEMP Phase Ib slide deck, all of which have been modified by the JPT and agreed to by the Parties (together, the “Phase I Protocols”). The slide deck outlining the HEMP Phase Ib will be replaced by a protocol synopsis when available. In the event that (i) the JPT modifies the Phase I Protocols, or (ii) the drug safety committee or local regulatory authorities requires substantial modification or limitations to the Phase I Protocols, then the Phase I Data Package will reflect such modific...

Option Extension Payment. Notwithstanding anything to the contrary in Section 10.5.1 above, if at any time prior to the date on which the Rights in the Property would otherwise revert to Owner Company makes to Owner the "Extension Payment" as defined below, then all time periods above shall be automatically extended for an additional 8 years from the date any of the Rights would otherwise revert to Owner hereunder. The Option Extension Payment means the amount of $XXXX, eighty percent (80%) of which ($XXXX) shall be applicable against any payments due pursuant to Section 12 herein and twenty percent (20%) ($XXXX) shall be applicable against any payments to Mr. Comic Book Writer Productions f/s/o Mr. Comic Book Writer pursuant to the Producing Agreement dated as of February 15, 20XX for any subsequent productions which commence in that period.