Option Term Extension Sample Clauses

Option Term Extension. (a) If a Change of Control of Acceleron occurs, then at that time Celgene shall have an Option on the following: (i) any Option Compounds not selected by Celgene pursuant to Section 7.2.1 or 7.2.2, but only if Acceleron has not already (x) granted any Third Party any rights to such compound or (y) filed an IND (which is accepted by the applicable Regulatory Authority) on such compound in a field outside of Use in Anemia, in each case, as permitted by Section 7.2.3, and (ii) any pre-IND compounds under development by Acceleron for which Acceleron intends to file an IND for Use in Anemia with respect to which pre-IND compounds Acceleron has completed toxicology studies and Acceleron has not granted any Third Party any rights (“Pre-IND Anemia Compounds”). (b) At such time as Celgene’s option under this Section 7.2.4 would apply, Acceleron shall deliver to Celgene written notice setting forth (i) a list of all Option Compounds described in Section 7.2.4(a)(i) and (ii) a list of all Pre-IND Anemia Compounds, together with relevant available data with respect to such Option Compounds and Pre-IND Anemia Compounds (which shall include the information described in Section 7.2.1 or 7.2.2 to the extent available). Within [* * *] days following receipt of such notice, Celgene may provide written notice to Acceleron stating its desire to exercise its option for any such Option Compound or any such Pre-IND Anemia Compound to be a Licensed Compound hereunder. Effective as of the date of Acceleron’s receipt of such notice from Celgene with respect to any such Option Compound or any such Pre-IND Anemia Compound, Celgene’s Option with respect to such compound shall be exercised and the definition of “Licensed Compound” hereunder shall automatically be deemed to include such compound. Furthermore, Acceleron will promptly provide Celgene with such additional information and access to records with respect to the applicable Option Compound or Pre-IND Anemia Compound in Acceleron’s possession or available to Acceleron from a Third Party, as Celgene may reasonably request; provided that such request for additional information shall not extend the [* * *] period for Celgene to exercise its Option unless Acceleron fails to provide the requested information in a timely fashion. Upon Celgene’s exercise of an Option, the initial Development Plan/Budget proposed by Acceleron, if any (including the proposed Initial Development Diseases), with such changes as are determined by Celgene, i...
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Option Term Extension. Optionee may extend the Option Term for up to six (6) months (“Extended Option Period”) if Optionee is delayed in fulfilling the requirements of this Option and at least one hundred twenty (120) days prior to expiration of the Option Term, Optionee has submitted written notice to the Chief Real Estate Officer requesting that the Option Term be extended and clearly declaring the length of such proposed extension. Extensions beyond the Extended Option Period and any related fee shall be subject to approval by the Board of Supervisors.
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Option Term Extension. In the event that there are additional bona fide Development activities that Licensee desires to undertake under a Program Plan, where such activities will reasonably require an extension of the Option Term, then Licensee may extend the Option Term for such Program Plan by up to six (6) months by [***].
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Option Term Extension. One (1) option to extend the initial Term for the entire Premises for a period of five (5) years, subject to the terms of Article 31 below.
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Option Term Extension. (PM06.1 N) A. At least one hundred twenty (120) days prior to expiration of the Option Term, Optionee shall have submitted written notice to the Chief Real Estate Officer requesting that the Option Term be extended and clearly declaring the length of such proposed extension. B. At least one hundred twenty (120) days prior to expiration of the Option Term, Optionee shall have submitted to the Chief Real Estate Officer a cashier’s check made payable to the “County of Orange” for the sum of Dollars ($ _) (the “Extension Fee”). The Extension Fee shall be in addition to the Option Price. Whether or not Optionee exercises the Option in accordance with the terms of this Option Agreement, the Extension Fee shall be retained by County as consideration for extending the Option Term. Under no circumstances will any portion of the Extension Fee be refunded to Optionee or credited to rent payments owed under the Ground Lease regardless of whether Optionee exercises the Option prior to the expiration of the Extended Option Period. C. The Option Term shall not be extended beyond the Extended Option Period without the approval by the Board of Supervisors, which may be granted or withheld in the sole and absolute discretion of the Board of Supervisors.
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Related to Option Term Extension

  • Contract Term Extension “Contract Term Extension” means an extension of the term of this contract, at the request of Purchaser, under this Subsection. This Subsection does not obligate Contracting Officer to grant Contract Term Extension.

  • Term Extension It is understood and agreed that the State may extend the Term an additional period of time, not to exceed one hundred-eighty (180) days beyond the expiration date of this Grant Contract, under the same terms and conditions. In no event, however, shall the maximum Term, including all extensions or renewals, exceed a total of sixty (60) months.

  • Patent Term Extension The Parties will cooperate in selecting a patent within the Patent Rights to seek a term extension for or supplementary protection certificate under in accordance with the applicable laws of any country. Each Party agrees to execute any documents and to take any additional actions as the other Party may reasonably request in connection therewith.

  • Patent Term Extensions The Parties shall use reasonable efforts to obtain all available supplementary protection certificates, patent term restorations, and other extensions (collectively, “Extensions”) of the Acceleron Patent Rights and Joint Patent Rights (including those available under the Xxxxx-Xxxxxx Act). Each Party shall execute such authorizations and other documents and take such other actions as may be reasonably requested by the other Party to obtain such Extensions. The Parties shall cooperate with each other in gaining Extensions wherever applicable to Acceleron Patent Rights or Joint Patent Rights. The holder of the applicable NDA may determine what Extensions of any such Patent Rights shall be made; provided that, if in any country such holder has an option to extend the patent term for only one of several patents, the first Party shall consult with the other Party before making the election. If more than one patent is eligible for such an Extension, the Parties shall select in good faith a strategy that shall maximize patent protection and commercial value for each Licensed Product. All filings for such Extensions, as determined by the holder of the applicable NDA, shall be made by the Party to whom responsibility for Prosecution of the Acceleron Patent Rights or Joint Patent Rights are assigned, and the owner of record of the applicable Patent Right shall assist with such filings; provided that, in the event that the Party to whom such responsibility is assigned elects not to file for an Extension, such Party shall (a) inform the other Party of its intention not to file, (b) grant the other Party the right to file for such Extension in the Patent Rights’ owner’s name, and (c) provide all necessary assistance in connection therewith. The Parties acknowledge and agree that (i) pursuant to the Shire Agreement, Shire and Acceleron will consult in selecting Patent Rights to extend the patent term with respect to “Licensed Products” under the Shire Agreement, and Shire shall make the decision in all countries of the world other than those of North America with respect to such “Licensed Products” under the Shire Agreement, and the filings for Extensions with respect thereto will be made by the party who is responsible for Prosecuting Patent Rights under the Shire Agreement, and, as such, Celgene’s rights under this Section 8.9 are subject to Shire’s prior rights; and (ii) Acceleron shall keep Celgene informed of all elections with respect to Extensions made pursuant to the Shire Agreement that affect Acceleron Patent Rights, and, to the extent that Shire is making any such elections, Acceleron shall use commercially reasonable efforts to cause Shire to take the actions specified by this Section 8.9 in a manner consistent with the Shire Agreement; provided that Acceleron will not be in breach of its obligations under this Section 8.9 if, after using such commercially reasonable efforts, it is unable to comply with such obligations because of actions taken or not taken by Shire.

  • SHORT TERM EXTENSION In the event a replacement Contract has not been issued, this Contract may be extended unilaterally by the State for an additional period of up to one (1) month upon notice to the Contractor with the same terms and conditions as the original Contract including, but not limited to, quantities (prorated for such one month extension), prices, and delivery requirements. With the concurrence of the Contractor, the extension may be for a period of up to three (3) months in lieu of one (1) month. However, this extension terminates should a replacement Contract be issued in the interim.

  • License Period a. The License is hereby granted in favour of the Licensee for a total period of 15 (fifteen) years from the Commencement Date subject to unless otherwise terminated by Maha-Metro or surrendered by the Successful Bidder/Licensee, in term of provisions of License Agreement. b. The tenure of License Agreement shall commence from the date of handing over of the property business space. c. Tenure of the License Period of any additional space handed over subsequently shall be co- terminus with above period irrespective of date of actual handing over for such additional space. d. There shall be a lock in period of five (05) years from the date of commencement of agreement/ handing over of licensed space. e. Licensee shall have option to exit from the License Agreement immediately after completion of lock in period of 5 (Five) years. For it, Licensee shall have to issue 180 days prior notice to Maha-Metro. Such prior notice intimation can be given after four and half (4 ½) years however option to exit will be available only after five (05) years. f. At no time during the license tenure, the Licensee shall be allowed to surrender partial Licensed Space which has been handed over to the Licensee by Maha-Metro. g. At the end of License period or in the event of termination of this agreement prior to completion of license tenure, for any reason whatsoever, all rights given under this License Agreement shall cease to have effect and the premises shall revert to Maha-Metro, without any obligation to Maha-Metro to pay or adjust any consideration or other payment to the Licensee. h. The tenure shall be inclusive of fitment period as applicable for the tendered space. i. On completion/ termination of License Agreement, the Licensee shall hand over the space with normal wear & tear. The Licensee shall be allowed to remove its assets like temporary structure, furniture, almirahs, air-conditioners, DG sets, equipments, etc. without causing damage to the existing structure. However, the Licensee shall not be allowed to remove any facility, equipment, fixture, etc. which has become an integral part of the development plan of the space. j. At the end of the License Period or sooner determination of this Agreement for any reason whatsoever all rights given under this License Agreement shall cease to have effect and the Licensed Area with all the furniture and fixtures and other assets permanently attached to the Licensed Area shall revert to Maha-Metro without any obligation on part of Maha-Metro to pay or adjust any consideration or other payment to the Licensee. The Licensee voluntarily gives Maha-Metro the right to seal the said Licensed Space(s) and remarket the same as part on its discretion upon Termination of this Agreement. No claim, compensation or damages will be entertained by Maha-Metro on this account.

  • Option Term This option shall have a term of ten (10) years measured from the Grant Date and shall accordingly expire at the close of business on the Expiration Date, unless sooner terminated in accordance with Paragraph 5 or 6.

  • Territorial Extension At the time of signature of this Agreement, or at any time thereafter, the provisions of this Agreement may be extended to such territories for whose international relations the Government of the United Kingdom are responsible as may be agreed between the Contracting Parties in an Exchange of Notes.

  • Extension Terms County may, at its sole option, extend the term of this Agreement beyond the Initial Term for up to ___ additional one-year terms at the same rates and under the same terms provided for herein (each such period being an “Extension Term”). County shall notify Contractor of its election for an Extension Term(s) as provided for in §6.

  • Patent Term Restoration The Parties hereto shall give reasonable cooperation to each other in obtaining patent term restoration or supplemental protection certificates or their equivalents in any country in the Territory where applicable to the Collaboration IP.

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