Option Exercise Fee definition
Examples of Option Exercise Fee in a sentence
Notwithstanding any requirements that would otherwise apply under Section 2.6 of the Agreement (all of which are deemed satisfied and waived as of the Amendment Effective Date), United Therapeutics’ exercise of the Option with respect to [***] shall be effective upon ▇▇▇▇▇▇▇▇’s timely receipt of this $5,000,000 Option Exercise Fee.
The Option Exercise Fee for [***] ($5,000,000) (as amended by Section 5(e) of this Amendment) shall be paid by United Therapeutics to MannKind within five (5) Business Days following the Amendment Effective Date.
For clarity, the exercise of the Withdrawal Option shall not release United Therapeutics from its obligation to pay, or deprive MannKind of its right to receive, an Option Exercise Fee, Milestone Payment or royalty payment that, prior to the exercise of the Withdrawal Option, has already accrued to such Party or which is attributable to a period prior to the exercise of the Withdrawal Option.