Examples of Option Exercise Effective Date in a sentence
For avoidance of doubt, upon PIRS CoDev Option Exercise Effective Date the applicable Collaboration Product shall be considered a CoDev Product and the exclusive license under Section 2.1 with respect to such CoDev Product shall terminate.
In addition, as of the PIRS CoDev Option Exercise Effective Date any Initial Compound Specific Patent that Covers a CoDev Product shall be filed, prosecuted and maintained in accordance with Section 11.2.4 below.
In addition, at least [***] months in advance (as determined by SGEN in good faith) of [***] for a [***], SGEN shall provide a [***] of all Reimbursable [***] to date and an [***] of future Reimbursable [***] through the estimated PIRS CoDev Option Exercise Effective Date for such Potential CoDev Product.
Subject to the terms and conditions of this Agreement, PIRS hereby grants to SGEN, commencing on the PIRS CoDev Option Exercise Effective Date, a co-exclusive (with PIRS), sublicensable (subject to Section 2.4 below), non-transferable (except as set forth in Section 17.4), right and license under the PIRS IP to Develop (subject to Section 4), Manufacture and have Manufactured (subject to Section 5) and Commercialize (subject to Section 6) a CoDev Product in the Field and anywhere in the world.
For avoidance of doubt, as of the PIRS CoDev Option Exercise Effective Date any SGEN Compound Specific Patent that qualifies as a CoDev Product Compound Specific Patent shall become a CoDev Product Compound Specific Patent and shall be filed, prosecuted and maintained in accordance with Section 11.2.4 below.
Subject to Section 9.1.1(c), following the Option Exercise Effective Date in respect of Licensed Products directed to a Selected Target, AZ, either directly or through one or more Third Party contract manufacturers, shall be responsible, at its own expense, for all Manufacturing activities necessary for the Exploitation of the Licensed Products directed to such Selected Target.
Beginning on a PIRS CoDev Option Exercise Effective Date, the Parties shall jointly Develop a CoDev Product in accordance with the applicable CoDev Product Plan.
With respect to each CoDev Product, upon the PIRS CoDev Option Exercise Effective Date, SGEN will continue to be responsible for the Manufacture and supply of such CoDev Product for continued Development and Commercialization.
All costs and expenses of filing, prosecuting, and maintaining such Patent Rights shall be borne by SGEN (provided that in the case of any such Patent Covering a CoDev Product, such expense, whether incurred before or after the PIRS CoDev Option Exercise Effective Date, is an Out-of-Pocket Cost for purposes of calculating Reimbursable [***] and Shared Costs as applicable).
Where AZ has made its filings within the aforementioned time limit, the Option Exercise Effective Date shall automatically be extended until all applicable Antitrust Clearances (and/or all other such clearances) are granted, unless applicable Antitrust Laws permit a notified deal to close before Antitrust Clearance.