The License Option Sample Clauses
The License Option clause grants one party the right, but not the obligation, to obtain a license to use certain intellectual property or technology under specified terms. Typically, this clause outlines the conditions under which the option can be exercised, such as time limits, payment requirements, or triggering events, and may detail the scope of the license, including fields of use or geographic regions. Its core practical function is to provide flexibility and certainty for both parties by reserving future licensing rights, thereby facilitating negotiations and planning while protecting the interests of the intellectual property owner.
The License Option. In partial consideration for the premium paid by Takeda to Ultragenyx under the Common Stock Purchase Agreement, Ultragenyx hereby grants to Takeda during the applicable Takeda Option Term, the exclusive option to obtain (the “Takeda Option”), on a product-by-product and country-by-country basis, an exclusive license (even as to Ultragenyx and its Affiliates) to (a) any or all of the Licensed Products in the Ultragenyx Field,
The License Option. MacroGenics hereby grants to Takeda the exclusive right to obtain the licenses set forth in Section 6.1, as well as all other rights set forth in Article 6 and elsewhere in this Agreement that pertain to the period after the Pre-Option Period (the “License Option”). Takeda shall have the right at its discretion to execute the License Option Exercise at any time during the Term of this Agreement prior to the License Option Deadline, subject to the terms and conditions set forth in this Agreement.