Upfront Option Fee Sample Clauses
The Upfront Option Fee clause defines the requirement for a party to pay a specified fee at the outset in order to secure an option right, such as the exclusive ability to purchase, lease, or otherwise acquire an asset within a certain period. This fee is typically non-refundable and is paid regardless of whether the option is ultimately exercised. By establishing a clear financial commitment from the option holder, the clause compensates the grantor for reserving the asset and provides assurance that the option is being taken seriously, thereby reducing the risk of frivolous or speculative option agreements.
Upfront Option Fee. In consideration for the rights granted to ONO under this Agreement, ONO shall pay to FATE a one-time-only, non-refundable, non-creditable payment of Ten Million Dollars ($10,000,000) within [***] Business Days after the Effective Date in accordance with Section 6.6 (Manner of Payment).
Upfront Option Fee. Within [***] ([***]) [***] of Licensee’s receipt of the initial transfer of Inhibrx Know-How in accordance with Section 2.5, on a Program-by-Program basis, Licensee shall pay to Inhibrx a non-refundable payment (the “Upfront Option Fee”) in the amount of [***] Dollars ($[***]); provided, however, that if the New Program is a New Binder Program the Upfront Option Fee shall be [***] Dollars ($[***]), of which Licensee shall pay to Inhibrx [***] Dollars ($[***]) within [***] ([***]) [***] after such Target becomes or is accepted to become the subject of a New Program under Section 2.3.2(b) or (c), respectively, and the remaining [***] Dollars ($[***]) within [***] ([***]) [***] of Licensee’s receipt of the initial transfer of Inhibrx Know-How in accordance with Section 2.5. For the avoidance of doubt, the Upfront Option Fee for Ongoing Programs shall be [***] Dollars ($[***]). The Upfront Option Fee will be payable no more than once for each Program Target.
Upfront Option Fee. Notwithstanding anything to the contrary in the Akcea-Ionis Agreement, in lieu of 50% of the Upfront Option Fee, Akcea will pay to Ionis US$15,000,000 of the Upfront Option Fee. For the avoidance of doubt, (a) Ionis will not be required to share with Akcea any of the proceeds from Novartis’ investment(s) in Ionis stock, and (b) Akcea will not be required to share with Ionis any of the proceeds from Novartis’ investment, if any, in Akcea stock, pursuant to that certain Stock Purchase Agreement dated January 5, 2017 by and among Novartis, Ionis and Akcea.
Upfront Option Fee. In consideration of Licensee receiving the Option, no later than ten (10) Business Days after the execution of this Agreement, Licensee shall pay to Kineta a one-time upfront option payment in the amount of [***] (“Upfront Payment”). Such payment shall be non-creditable and non-refundable.