Merck Option definition

Merck Option means the option by Merck to conduct research and development activities with respect to any Option Program and to commercialize Option Compounds, as further described in this Agreement.
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Merck Option means any option to purchase Distributing stock held by a Controlled Employee granted prior to February 26, 2002, other than the Acquired Company Options.
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Merck Option means any Ophthalmology Merck Option, Alternative Ophthalmology Merck Option, CVM Merck Option or [***] Merck Option.
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Examples of Merck Option in a sentence

  • Tularik shall notify Merck that the Merck Option has become exercisable with respect to an Option Program by submission to Merck of Exercise Data on the Exercise Date.

  • Upon exercising the Merck Option by giving such notice in such manner, all Option Compounds within such Option Program shall become Program Compounds for all purposes of this Agreement.

  • Merck hereby grants to Tularik an exclusive, worldwide license to make, have made, use, sell, and have sold Option Products in the Field as to which Merck has not exercised the Merck Option, under the (i) [ * ].

  • In the event Merck shall not exercise the Merck Option with respect to such Option Program within [ * ] following the Exercise Date, the Merck Option shall expire with respect to such Option Program.

  • Tularik shall provide Merck with semi-annual reports of its progress in developing each Option Compound for which Merck may be entitled to exercise the Merck Option in such reasonable detail as shall be necessary and appropriate to permit Merck to determine whether it wishes to exercise the Merck Option.

  • The Parties shall use commercially reasonable efforts to take all actions necessary or appropriate so that each outstanding Merck Option, Merck PSU Award, and Merck RSU Award granted under a Merck Stock Program shall be adjusted or converted as set forth in this Section 6.01.

  • Each Merck Option outstanding as of immediately prior to the Distribution Date, whether vested or unvested and regardless of by whom held shall be converted concurrently with the Distribution on the Distribution Date into (x) an Adjusted Merck Option in the case of Merck Employees, Post-Distribution Organon Employees and Former Employees or (y) an Organon Option in the case of Organon Employees (excluding any Post-Distribution Organon Employee).

  • Merck shall pay Tularik an exercise fee of [ * ] with respect to each Option Program as to which Merck exercises the Merck Option, at the time of each respective exercise and thereupon Tularik's rights with respect to Option Compounds within such Option Program shall be governed by Section 3.3(a).

  • Such license shall terminate as to Options Compounds within any Option Program with respect to which the Merck Option shall have been exercised or shall have terminated.

  • In no event shall Merck be obligated to consider exercise of the Merck Option with respect to such Option Program unless Exercise Data for such Option Program shall have been submitted to Merck.


More Definitions of Merck Option

Merck Option shall have the meaning set forth in Section 5.2.1.
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Merck Option means the option granted to Merck pursuant to Section 3.1.
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Related to Merck Option

  • 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.

  • Incentive Option means an Option that is intended to comply with the requirements set forth in Section 422 of the Code.

  • Nonstatutory Stock Option means an Option not intended to qualify as an Incentive Stock Option.

  • Employee Stock Option means an option granted to an Employee, which gives such Employee the right, but not an obligation, to purchase or subscribe at a future date the Shares underlying the Option at a pre-determined price.

  • Incentive Stock Option means an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder.