Option to License. Subject to the limitations set forth in this OPTION AGREEMENT, REGENTS grants to OPTIONEE an exclusive, time-limited right to enter into the LICENSE AGREEMENT. OPTIONEE will notify REGENTS promptly, at any time during the term of this OPTION AGREEMENT, if OPTIONEE decides to not exercise the option contained in this OPTION AGREEMENT. Such notice will provide REGENTS with the reason for the decision and will be subject to the Termination by OPTIONEE Article and Notices Article of this OPTION AGREEMENT.
Appears in 3 contracts
Samples: Option Agreement, Option Agreement, Option Agreement
Option to License. Subject to the limitations set forth in this OPTION AGREEMENT, REGENTS grants to OPTIONEE an exclusive, time-limited right to enter into the LICENSE AGREEMENT. OPTIONEE will notify REGENTS promptly, at any time during the term of this OPTION AGREEMENT, if OPTIONEE decides to not exercise the option contained in this OPTION AGREEMENT. Such notice will provide REGENTS with the reason for the decision and will be subject to the Termination by OPTIONEE Article and Notices Article of this OPTION AGREEMENT.
Appears in 2 contracts
Samples: Option Agreement, Option Agreement
