Royalty Conversion Option Clause Samples
Royalty Conversion Option. SQZ hereby grants to Roche an option to buy-out of the royalty payments set forth in Section 12.10, on terms to be negotiated in good faith by the Parties.
Royalty Conversion Option. Licensee will have an option to convert its rights and obligations to Develop, perform Medical Affairs activities and Non-Promotional Activities with respect to, and Commercialize Licensed Compound and the Licensed Products under this Agreement and to share Shared Costs and Net Sales under this Agreement into a right to receive a royalty as set forth in this Section 9.5 (Royalty Conversion Option) (the “Royalty Conversion Option”). Licensee may exercise the Royalty Conversion Option by providing written notice to Akebia [***] earlier of [***] days thereafter or [***] (such period, the “Option Exercise Period”). If Licensee notifies Akebia during the Option Exercise Period that it is exercising the Royalty Conversion Option, then the following will apply with immediate effect: