Ligand Option definition

Ligand Option. Until the date that is seven (7) days after the date on which Lilly gives written notice (the "Option Termination Notice") to Ligand of Lilly's desire to terminate the Ligand Option (the "Ligand Option Period"), Ligand shall have the option (the "Ligand Option") to become Lilly's exclusive wholesaler of the Products, subject to the terms and conditions contained in this Agreement. Lilly shall not give the Option Termination Notice prior to April 27, 1998. If Lilly gives the Option Termination Notice prior to May 28, 1998, it will, upon written request made by both Ligand and Seragen and delivered to Lilly within five (5) days of the date of the Option Termination Notice, defer effectiveness of the Option Termination Notice until May 28, 1998, (with the effect that the Ligand Option would expire on June 4, 1998, if not previously exercised). *** *** *** *** *** ***
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Ligand Option means the option to purchase all outstanding shares of capital stock of X-Ceptor granted to Ligand pursuant to agreements of the stockholders of X-Ceptor and as set forth in Article Four, Section H of the Amended and Restated Certificate of Incorporation of X-Ceptor Therapeutics, Inc. as further amended from time to time.
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Examples of Ligand Option in a sentence

  • For a period equal to the earlier of (a) ninety (90) days after the Effective Date of this Agreement, (b) until February 27, 1998, or (c) until the date which is three (3) business days after the date on which Ligand delivers to Lilly the notice referred to in Section 1.4, (the "Ligand Option Period"), Ligand shall have the option (the "Ligand Option") to become Lilly's exclusive wholesaler of the Products subject to the terms and conditions contained in this Agreement.

  • To exercise the Ligand Option, Ligand shall deliver written notice of exercise to Lilly prior to the end of the Ligand Option Period in the manner set forth in Section 5.9 of this Agreement.

  • Lilly and Ligand have entered into an Option and Wholesale Purchase Agreement dated as of November 25, 1997 (the "Agreement"), and Whereas the parties now desire to amend the Agreement to extend the period of time pursuant to which Ligand may exercise the Ligand Option (as defined in the Agreement).

  • Notwithstanding any other provisions in this Agreement, X-Ceptor will not have the right during the term of the Ligand Option to grant any other party a license in the Restricted Field or to collaborate with any other party in the development of Products to which the other party acquires rights in the Restricted Field.

  • X-Ceptor agrees to make redacted financial terms available to Ligand under a confidentiality/nondisclosure agreement reasonably acceptable to both parties as part of Ligand's due diligence carried out in consideration of exercise of the Ligand Option.

  • Ligand shall not grant a third party a license to the Nonexclusive Technology in the Field during the term of the Ligand Option and, if the Ligand Option is not exercised, for *** after the expiration unexercised of the Ligand Option.

  • After the expiration of the Ligand Option without it having been exercised, X-Ceptor may not assign this Agreement without the prior written consent of Ligand except in connection with transfer or sale of all or substantially all of its business pertaining to this Agreement, or in the event of its merger or consolidation or change of control or similar transaction.

  • No sublicense granted by X-Ceptor and no agreement between X-Ceptor and a third party to collaborate in the research, development and/or commercialization of Products shall restrict X-Ceptor's right to assign or otherwise transfer to Ligand, or any Affiliate of Ligand, the agreement containing such sublicenses or relating to such collaborations in connection with exercise of the Ligand Option.

  • Any sublicense to Nonexclusive Technology shall expire *** after exercise by Ligand of the Ligand Option.

  • This Agreement may not be assigned by X-Ceptor during the term of the Ligand Option.

Related to Ligand Option

  • Employee Option means an Option granted pursuant to Section 5.

  • Covered Call Option means an exchange traded option entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities (excluding Futures Contracts) which are owned by the writer thereof and subject to appropriate restrictions.

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Call Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities.

  • Reload Option means any Option granted under Section 6(a)(iv) of the Plan.

  • Director Option means an Option granted pursuant to Section 6.

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • Option means a stock option granted pursuant to the Plan.

  • Stock Reload Option means any option granted under Section 6.3, below, as a result of the payment of the exercise price of a Stock Option and/or the withholding tax related thereto in the form of Stock owned by the Holder or the withholding of Stock by the Company.

  • Tandem Appreciation Right means an Appreciation Right granted pursuant to Section 5 of this Plan that is granted in tandem with an Option Right.

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Share Option means a Nonqualified Share Option or an Incentive Share Option.

  • Option B has the meaning assigned that term in Section 8.03(e).

  • Parent Option means any option to purchase Parent Common Stock which was granted pursuant to a Parent Option Plan.

  • Option 3 [ ] A Participant satisfies the Plan's Early Retirement Age conditions by attaining age ________ (not less than 55) and completing ________ Years of Vesting Service.

  • Top-Up Option has the meaning set forth in Section 1.04(a).

  • Drug sample means a unit of a prescription drug that is not intended to be sold and is intended to promote the sale of the drug.

  • SAR means a stock appreciation right granted under the Plan.

  • Stock Index Option means an exchange traded option entitling the holder, upon timely exercise, to receive an amount of cash determined by reference to the difference between the exercise price and the value of the index on the date of exercise.

  • GSK has the meaning set forth in the preamble.

  • Option 2 Annual Actual O&M Expenses

  • Replacement Option has the meaning ascribed thereto in Section 2.2(c).

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Drug Substance means an active ingredient that is intended to furnish pharmacological activity or other direct effect in the diagnosis, cure, mitigation, treatment, or prevention of disease or to affect the structure or any function of the human body, but does not include intermediates used in the synthesis of such ingredient.

  • Vested Option means any Option, which has already been vested according to the Vesting Dates.