Initial Option Period definition

Initial Option Period means the Option Period commencing on the Plan Start Date and ending on July 31, 1997.

Initial Option Period shall have the meaning set forth in Article 2.4.

Initial Option Period shall have the meaning ascribed to such term in Section 2.4.

Examples of Initial Option Period in a sentence

• The option shall be effective during the period commencing on the date hereof and ending six months later (the "Initial Option Period").

• If the Initial Option Period terminates without any Purchase or the Option Period Extension being activated, or if the Option Period Extension terminates without any Purchase or the Production Period commencing, or if the Production Period terminates without any Purchase, then this Agreement shall terminate automatically and all rights in and to the Play shall revert to Owner and the Parties shall have no further obligations to one another hereunder except as may be expressly stipulated herein.

• If, during either the Initial Option Period or the Option Period Extension, the Series goes into production, then Production Company’s option hereunder shall be further extended throughout the “Production Period”, which shall mean the period of time beginning upon the end of the Option Extension Period and terminating upon the earlier of either (i) Purchase; or (ii) Thirty Six (36) months from the start of the Production Period.

• If, at any time during the Initial Option Period, the Series secures financing and/or is set-up with a distributor, the Initial Option Period shall be automatically extended for an additional Twenty Four (24) months (the “Option Period Extension”) from the end of the Initial Option Period.

• The Seller acknowledges that PGE may, at its own expense, during the Initial Option Period, undertake pre-production activities in connection with any of the rights to be acquired hereunder including, without limitation, the preparation and submission of treatments and/or screenplays based on the Literary Property.

More Definitions of Initial Option Period

Initial Option Period has the meaning set forth in Section 3.2(b).

Initial Option Period means the period commencing on the date hereof and ending on June 30, 2001; provided, however, if the Atari Advance has not been fully recouped by June 30, 2001, the Initial Option Period shall be extended to a date which is the earlier to occur of (i) June 30, 2003, or (ii) the date on which the Atari Advance is fully recouped. In determining whether the Atari Advance has been fully recouped for all purposes under this Agreement, amounts owed by GTIS but not yet reported, paid or credited to the Licensor shall be deemed recouped by GTIS. The Initial Option Period may be further extended under the following circumstances. If (a) an Early Termination Event occurs prior to June 30, 2000, and (b) GTIS shall not have fully recouped the Atari Advance by the end of the Initial Option Period as extended pursuant to the first sentence of this Section 1.11 (as such date may be further extended from time to time by future amendments or extensions other than the extensions next referred to in this sentence), then the Initial Option Period shall be further extended to a date which is the earlier to occur of (x) the date on which the Atari Advance is

Initial Option Period means the Option Period commencing on the Plan Start Date and ending on September 30, 1997.

Initial Option Period means the period starting on the Effective Date and ending on December 31, 2021;

Initial Option Period means, with respect to the Initial Targets, a period of [***] ([***])following the delivery to Sanofi by Adagene of the sequence of the Licensed Compound that it has Developed with respect to the first Initial Target, in accordance with, and as further specified in, the applicable Target Research Plan. Additionally, if Sanofi exercises its Replacement Right (as set forth in Article 6) prior to delivery of the sequence of the Licensed Compound with respect to the first Initial Target, the Initial Option Period for such replaced Target shall begin upon delivery of the sequence with respect to the Licensed Compound for the first Initial Target.

Initial Option Period means the Option Period commencing the Plan Start Date and ending on September 30, 1996.

Initial Option Period means that period of time commencing the Delivery Date and ending on the date the Purchaser is elected to the Board of Directors of Stratus in 2016. Subject to adjustment as provided below, “First Option Period” means that period of time commencing on the Delivery Date and ending on June 30, 2017; “Second Option Period” means that period of time commencing on the Delivery Date and ending on June 30, 2018; and “Third Option Period” means that period of time commencing on the Delivery Date and ending on June 30, 2019; provided, however, that the ending date of any of the First, Second or Third Option Periods shall be accelerated or postponed as necessary to cause such ending date to be the final day of the month in which Stratus holds its annual meeting of shareholders for such year and at which directors are elected. A “Capital Event” shall occur if and when Stratus is sold, merged or combined with another company, or Stratus sells all or substantially all of its assets, pursuant to a transaction approved by the stockholders of Stratus. A “Service Cessation” shall occur if (a) as of the end of the Initial Option Period, the Purchaser has ceased to be a nominee for election to the Board of Directors of Stratus or, if elected a director, has declined to assume that office, and (b) as of the end of the First, the Second or the Third Option Period, as applicable, the Purchaser is not serving as a member of the Board of Directors of Stratus.