Examples of Additional Indication Option in a sentence
The period during which Auxilium may exercise an Additional Indication Option (the “Exercise Period”) shall commence on the date on which BTC submits a Phase II Clinical Trial report to Auxilium for the Product for such Additional Indication and ends one hundred and twenty (120) days thereafter.
Auxilium may exercise the Additional Indication Option at any time during the Exercise Period by delivering to BTC a written notice of exercise with regard to such Additional Indication (each, an “Exercised Indication”) that sets forth the effective date of the exercise (the “Exercised Indication Date”).
Furthermore, if Licensee exercises the Substitution Indication Option and/or Additional Indication Option granted to Licensee under Sections 2.2 and 2.3, respectively, Licensee will use commercially reasonable efforts to develop, commercialize, market, promote, and sell Licensed Products for the Disease Indication(s) subject to such option in the Commercial Field.
The Parties acknowledge that there may be different Grant Dates for each Additional Disease Indication, depending on when and if Licensee exercises the Additional Indication Option for a particular Additional Disease Indication.
For each exercise by Licensee of an Additional Indication Option granted to Licensee under Section 2.3, Licensee shall pay Licensor a fee of five hundred thousand U.S. Dollars ($500,000) for the exercise of such option.
To exercise the Additional Indication Option for a particular Additional Disease Indication, Licensee may nominate in writing to Licensor an Additional Disease Indication for inclusion in the Commercial Field under this Agreement prior to the end of the Additional Indication Term.
The period during which Endo may exercise an Additional Indication Option (the “Exercise Period”) shall commence on the date on which BTC submits a Phase II Clinical Trial report to Endo for the Product for such Additional Indication and ends one hundred and twenty (120) days thereafter.
As set forth above, Licensee, at its sole discretion, may exercise the Additional Indication Option with respect to any or all of the Additional Disease Indications.
In the event Endo desires to exercise its Additional Indication Option at any stage of development activity prior to the submission of a Phase II Clinical Trials report (each, an “Early Exercised Indication”), Endo shall deliver to BTC a written notice of Early Exercised Indication with regard to such Additional Indication.
For the avoidance of doubt, the foregoing license granted pursuant to Section 2.3.3 will be deemed granted on the Grant Date on an Additional Disease Indication-by-Additional Disease Indication basis, solely with respect to the Commercial Field associated with the Additional Disease Indication for which the Additional Indication Option was exercised under this Section 2.3 and solely with respect to Licensed Products for the particular Additional Disease Indication.