Royalty Option. Owner grants to MAX the exclusive right to purchase a portion of the Royalty. The Royalty purchase price shall be One Million Dollars ($1,000,000.00) for one percent (1%) of the Royalty. XXX xxx exercise the option to purchase the Royalty at any time within six (6) months after a positive feasibility study for the Royalty Property is issued. If MA.X does not timely exercise the option to purchase the Royalty, it shall be deemed to have irrevocably terminated and waived the option to purchase the Royalty. If MAX timely exercises the option to purchase the Royalty, the parties shall diligently attempt to close the purchase of the Royalty within thirty (30) days following MAX RESOURCES' delivery of notice of its election. MAX shall deliver the purchase price for the Royalty in cash or by wire transfer directed to an account designated by Owner and Owner shall execute and deliver to MAX a conveyance of the portion of the Royalty purchase. On closing of the option to purchase the Royalty, MAX shall acquire and own the portion of the Royalty subject to the option and Owner shall retain the Royalty of two percent (2%). No Rental Payments paid under the Agreement and no Advance Payments or Royalty payments paid under this Deed shall apply to the Royalty purchase price.
Royalty Option. 3.1 Kodiak is hereby granted the sole and exclusive option to purchase up to one-third of the Royalty (i.e. 1.0%) from the Optionors for $2,000,000, such option to be exercisable until 5:00 p.m. (local time in Vancouver, B.C.) on the second anniversary of the date of exercise of the Option by notice in writing accompanied by payment of the purchase price therefor.
Royalty Option. For the thirty (30) day period immediately succeeding the earlier of the approval date of the BLA or the approval date of the Intrathecal BLA, Children’s shall have the option (the “Royalty Option”), but only if it owns at the date of exercise of such option, fifty percent (50%) or more of the Shares issued in the name of Children’s pursuant to this Agreement or, after the Internal Restructuring, at least fifty percent (50%) or more of the AveXis Shares issued in the name of Children’s, to sell all, but not less than all, of its Shares or its AveXis Shares, as applicable, to Licensee or AveXis (as defined in Section 7.4), as applicable, at a price per share equal to two (2) times the price per share of common stock sold by Licensee or AveXis, as applicable, in its Series A Financing, with such consideration paid in four (4) equal quarterly installments, commencing on **** and continuing on ****. Furthermore, for the thirty (30) day period immediately succeeding the earlier of the approval date of the BLA or the approval date of the Intrathecal BLA, notwithstanding anything to the contrary in this Agreement, OSU shall also have the option (the “OSU Royalty Option”), but only if it owns at the date of exercise of such option, fifty percent (50%) or more of the OSU Shares or, after the Internal Restructuring, at least fifty percent (50%) or more of the OSU AveXis Shares (as defined in Section 7.4), to sell all, but not less than all, of its OSU Shares, or its OSU AveXis Shares, as applicable, to Licensee or AveXis, as applicable, at a price per share equal to two (2) times the price per share of common stock sold by Licensee or AveXis, as applicable, in its Series A Financing, with such consideration paid in four (4) equal quarterly installments, commencing on **** and continuing on ****.
Royalty Option. Owner grants to Triband the exclusive right to purchase one-half (1/2) of the Royalty representing two percent (2%) of the Net Smelter Returns. The Royalty Price for the Royalty Option shall be One Million Dollars ($1,000,000.00). The Royalty Option shall be exercisable by Triband at any time within six (6) months after Triband's receipt of all approvals, consents, licenses and permits required for the production of Minerals from the Property and the commencement of development of a commercial mine on the Property. If Triband exercises the Royalty Option, it shall deliver notice of its election and the parties shall close the purchase of the Royalty in the same manner provided for Triband's exercise and closing of the Option prescribed in Section 6.1.1 through 6.1.5. If Triband exercises the Royalty Option, the Royalty percentage rate described in Section 5.3 shall be reduced to two percent (2%), unless before or concurrently with the closing of the Royalty Option Triband exercises the Option, in which case the Royalty shall terminate.
Royalty Option. In the event Newmont elects not to exercise the Venture Option described in Section 9 below, or elects to exercise the Venture Option but thereafter elects to not complete its Earn-In Expenditures (as described below) and provided that AuEx has not previously exercised the Buy-Out Option under Section 6 above, (i) Newmont shall transfer to AuEx all its interest in the Newmont Property by Quit Claim Deed and Assignment in the form of Exhibit E hereto, (ii) AuEx shall convey to Newmont a net smelter return royalty on production from the Property by executing and delivering to Newmont a royalty deed in the form of Exhibit F hereto (“Royalty Deed”), (iii) AuEx would pay $1,000,000 to Newmont in cash by certified check or wire transfer and (iv) this Agreement shall terminate, if it has not previously terminated under Section 9(a)(vi) below. This provision shall survive any termination of this Agreement under Section 9(a)(vi) of this Agreement, until Newmont completes its Earn-In Expenditures. The Quit Claim Deed and Assignment shall be recorded in the Pershing County records before the Royalty Deed is recorded.
Royalty Option. In the event that VERTEX does not exercise the Bulk Supply Option or the Joint Venture Option with respect to a particular Second Opportunity Candidate or Subsequent Drug Candidate, NOVARTIS shall undertake production using its own manufacturing resources or Third Party manufacturers pursuant to the license granted in Section 2.1 of this Agreement, and shall have access to all information generated by VERTEX relating to the supply of that Bulk Drug Substance. In such event, NOVARTIS shall pay the following royalties to VERTEX (subject to the provisions of Section 6.3 providing for royalty reduction in certain instances), in lieu of the royalties set forth in Section 6.3 hereof, on Net Sales of a Drug Product containing the foregoing Second Opportunity or Subsequent Drug Candidate: [****************************************************************** ******************************************************************* *********************************************]
Royalty Option. Subject to all of the terms and conditions of this Agreement and for the consideration described in this Agreement, Rubicon grants to Claimstaker the option to purchase an absolute two percent (2%) of the three percent (3%)
Royalty Option. Subject to all of the terms and conditions of this Deed and for the consideration described in this Deed, Grantor grants to Grantee the option to purchase an absolute two percent (2%) of the three percent (3%)
