Additional Target Option definition

Additional Target Option has the meaning set forth in Section 3.3(c).

Additional Target Option has the meaning set forth in Section 2.2.3(a).

Examples of Additional Target Option in a sentence

• For each Additional Target Option that Novartis exercises, Novartis will pay to Voyager a fee of Eighteen Million Dollars ($18,000,000) per Additional Target (each, an “Additional Target Option Fee”) following receipt of an invoice from Voyager in accordance with Section 5.5.

• Subject to Section 2.7 (Additional Target Option), either Party may propose an amendment to the Research Plan by submitting such proposed amendment in writing to the JSC for review and approval under Section 4.2.4(b) (Responsibilities).

• If Novartis desires to exercise an Additional Target Option, Novartis will provide Voyager with written notice identifying the proposed Rare Disease Target for which Novartis desires to exercise the Additional Target Option, including information regarding any applicable genetic variant(s) present in the intended addressable patient population sufficient for Voyager to determine whether the proposed target qualifies as a Rare Disease Target.

• For the avoidance of doubt, the nomination process described in this Section 2.2.3 shall occur on a per Additional Target Option basis, and so the triggering of a one Additional Target Option does not foreclose the possibility of the process continuing for a second Additional Target Option.

• With respect to each Option Target for which CANbridge exercises the Additional Target Option, CANbridge will pay LogicBio a one‑time, non‑refundable, non‑creditable payment of [**] Dollars ($[**]) within [**] of providing LogicBio written notice of its exercise of the Additional Target Option (the “Additional Target Option Fee”).

• LogicBio hereby grants to CANbridge, on an Option Target-by-Option Target basis, exclusive options to include each Option Target as a Target under this Agreement in accordance with the terms of this Section 2.7 (Additional Target Option) (each such option with respect to an Option Target, an “Additional Target Option”).

• Within [**] of receipt of notice from Voyager that the proposed Rare Disease Target is Available (and qualifies as a Rare Disease Target) pursuant to Section 2.2.3(a), Novartis may exercise the Additional Target Option for such Rare Disease Target by providing written notice to Voyager of such exercise, and Novartis will pay the Additional Target Option Fee in accordance with Section 5.2.

• During the Additional Target Option Period, Novartis will have the option to nominate up to two (2) additional Rare Disease Targets for evaluation (each, an “Additional Target Option”).

• If Vertex exercises the Additional Target Option to add Target(s) that are not the Reserved Target as the Additional Target, then the Reserved Target will cease to be a Reserved Target effective as of the exercise of the Additional Target Option.

• At any time during the period between the Effective Date and the [***] anniversary of the Effective Date prior to Vertex’s exercise of the Additional Target Option, subject to Section 2.3.2, Vertex may designate a single Target as reserved for the Additional Target Option (the “Reserved Target”) by providing written notice to the Gatekeeper (the “Reserved Target Notice”), which Reserved Target Notice will identify the proposed Reserved Target.