Extension Rights definition

Extension Rights means the right of Seller or its Affiliates to (i) renew and extend the term of any licenses or covenants not to ▇▇▇ granted by Seller and/or its Affiliates which constitute Existing Rights and (ii) modify or amend any such licenses or covenants not to ▇▇▇ in accordance with, and solely pursuant to, an obligation contained therein and solely per the terms and conditions of such license or covenant not to ▇▇▇ in existence as of the Effective Date; provided that the initial license or covenant not to ▇▇▇ did not extend just to any one or more of the Patents themselves; and further provided, that such renewals, extensions, modifications, or amendments (a) do not confer any exclusive rights with respect to the Assigned Patent Rights, (b) do not confer upon the licensee any sublicense or assignment rights under the Assigned Patent Rights, other than what was set forth in the Existing Right, (c) do not confer any license rights upon an Unlicensed Person (as defined below); provided, however, an Unlicensed Person may become licensed due to an acquisition or merger with a Prior Rights Holder to the extent, and subject to any applicable limitations, provided in the Existing Rights; (d) do not create or modify any affirmative duties or obligations owed by Purchaser or Affiliates of Purchaser other than Existing Rights; and (e) do not confer any rights with respect to any intellectual property of Purchaser or Affiliates of Purchaser other than the Assigned Patent Rights.

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Extension Rights. Yes [X] No [_] (subject to the terms and conditions of the attached Addendum No. 1). --------------

Extension Rights. Tenant has the right to extend the Term of the Lease for one extension period of five (5) years on terms and conditions set forth in the Lease.

Examples of Extension Rights in a sentence

• The period of time within which any Extension Rights may be exercised shall not be extended or enlarged by reason of Tenant’s inability to exercise the Extension Rights.

• Extension Rights are personal to Tenant and are not assignable without Landlord’s consent, which may be granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in the Lease, except that they may be assigned in connection with any Permitted Assignment of this Lease.

• The Extension Rights shall terminate and be of no further force or effect even after Tenant’s due and timely exercise of an Extension Right, if, after such exercise, but prior to the commencement date of an Extension Term, (i) Tenant fails to timely cure any default by Tenant under this Lease; or (ii) Tenant has Defaulted 3 or more times during the period from the date of the exercise of an Extension Right to the date of the commencement of the Extension Term, whether or not such Defaults are cured.

• Extension Rights are personal to Tenant and are not assignable without Landlord’s consent, which may be granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in this Lease, except that they may be assigned in connection with any Permitted Assignment of this Lease.

• Extension Rights shall apply to all of the Premises then under lease to Tenant.

More Definitions of Extension Rights

Extension Rights shall have the meaning set forth in Section 3.2.

Extension Rights. Two (2) consecutive options to extend the Original Term for an additional five (5) years each.

Extension Rights. Yes X No__ (If yes, see Addendum to Lease).

Extension Rights. Yes X No ____ (See ---- Paragraph 3.2).

Extension Rights the rights to extend and renew the Term of this Lease, ifany, as set out in Schedule "B";

Extension Rights. Yes: One (1) Option to Extend for a period of two (2) years (Section 3.2).

Extension Rights. Section 3.2 “Founder” Recitals “GM Stem Cells” Recitals “Golden Meditech” Recitals “Interest Payment Date” Section 2.2