Option Payment. For each Target (including for clarity each Initial Target and each Substitute Target, as applicable), in the event Pfizer exercises its Option with respect to such Target in accordance with the provisions of Section 3.2, Pfizer shall pay to Arvinas upon Option Exercise (i) [**] if such Option Exercise occurs before [**] for such Target, including if such Option Exercise occurs and no such Lead Optimization Efforts are to be conducted hereunder, or (ii) [**] Dollars (US$[**]) if such Option Exercise occurs after [**] for such Target. Payment for any such amount shall be made within [**] of Pfizer’s receipt of a corresponding invoice from Arvinas that is issued in accordance with Section 5.8.
Option Payment. In consideration of Seller agreeing to grant the Option, Purchaser shall make a non-refundable payment of One Hundred and No/100 Dollars ($100.00) in certified funds made payable to the order of Seller or by wire transfer to Seller (the "Option Payment") within ten (10) days of the Effective Date.
Option Payment. Lxxxx shall pay Telix a one-time, non-refundable, non-creditable payment of five million Dollars ($5,000,000) within [**] of the date Lilly exercises its Option.
Option Payment. At Closing, the Option Payment shall be applied and credited toward the payment of the Purchase Price. In the event that Buyer fails to timely pay the Option Payment, Seller shall be entitled, at Seller's sole option, to terminate this Agreement immediately by giving written notice of such termination to Buyer;
Option Payment. Concurrently with the execution of this Agreement, Tenant shall pay to Landlord the “Option Payment” in the amount of $ . The Option Payment is fully earned on execution of this Agreement, is the sole property of Landlord, and shall not be reimbursed to Tenant whether or not the Lease is executed or approved.
Option Payment. In consideration of the option herein granted, Optionee has paid to Optionor, the sum of Ten Thousand Dollars ($10,000.00) (the “Option Payment”).
Option Payment. In consideration of this Option, Tenant has paid One -------------- Dollar ($1.00) to Landlord of even date hereof (the "OPTION PAYMENT"). The Option Payment is nonrefundable.
Option Payment. As consideration for the grant of the Option provided herein, Buyer shall pay to Seller outside of escrow, on the second business day following the Effective Date, the sum of Twenty Five Thousand Dollars ($25,000) in immediately available funds ("Option Payment") provided, however, that in no event shall Buyer be required to pay the Option Payment until one (1) business day following the date on which the First Offer Notice (as defined immediately below) has been given by Seller to Buyer, if at all. Seller shall give Buyer written notice ("First Offer Notice") in the event that Omnicom (as defined below) fails to timely exercise the right of first offer, as more particularly described in Section 8.1.6 below. Upon purchase of the Property following exercise of the Option, the Option Payment shall be credited against the Purchase Price (as defined below) for the benefit of Buyer. Except as otherwise provided in this Agreement, in the event that Buyer does not exercise the Option provided for herein, or in the event that Buyer does not purchase the Property after exercising the Option, then the entire amount of the Option Payment shall be retained by Seller.
Option Payment. At the Effective Time, each then-outstanding Company Option shall be accelerated and become fully exercisable, as set forth in Section 13(a) of the Company Option Plan (or any other applicable plan or agreement) and shall be cancelled as follows: (i) in the case of a Company Option having a per share exercise price less than the Common Per Share Merger Consideration, such Company Option shall be cancelled in exchange for the right to receive from the Company for each share of Common Stock subject to such Company Option immediately prior to the Effective Time an amount (subject to any applicable withholding Tax) in cash equal to the product of (1) the number of shares of Common Stock subject to such Company Option immediately prior to the Effective Time and (2) the amount by which the Common Per Share Merger Consideration exceeds the per share exercise price of such Company Option; or (ii) in the case any Company Option having a per share exercise price equal to or greater than the Common Per Share Merger Consideration, such Company Option shall be cancelled without the payment of cash or issuance of other securities in respect thereof. The cancellation of a Company Option as provided in the immediately preceding sentence shall be deemed a release of any and all rights the holder thereof had or may have had in respect of such Company Option. The aggregate amount paid or payable in respect of the cancellation of the Company Options as set forth in this Section 1.8 is referred to herein as the “Option Consideration.” The Company shall cause the Option Consideration, if any, to be disbursed through its payroll system, net of applicable Tax withholding, to the applicable recipients of such Option Consideration.
Option Payment. For each Optioned Program, excluding the Autotaxin Program and the ADAMTS-5 Program, Gilead shall pay to Galapagos an amount equal to One Hundred Fifty Million Dollars ($150,000,000), and for the ADAMTS-5 Program, Gilead shall pay to Galapagos an amount equal to Two Hundred Fifty Million Dollars ($250,000,000) (each such payment, an “Option Payment”) within […***…] days after the applicable Galapagos Program has become an Optioned Program pursuant to Section 8.2. For the Autotaxin Program, the payment for such Option shall be deemed made upon payment of the Upfront Consideration.
