Examples of Option Fee in a sentence
Subject to Licensee’s compliance with the immediately foregoing sentence and Section 6.2 (Option Fee), the date on which Xxxxxxx receives the Option Fee will thereafter be the “Option Exercise Date” under this Agreement.
For clarity, unless and until the Option Fee is received by Xxxxxxx in accordance with this Agreement, Xxxxxxx will have no obligation to transfer any Licensed TARP8 Know-How or related materials to Licensee.
Following the delivery of the Option Exercise Notice, Licensee shall pay the Option Fee to Xxxxxxx as set forth in Section 6.2 (Option Fee).
If Licensee fails to exercise the TARP8 Option in accordance with Section 2.2.3 (Option Exercise), Licensee will forfeit its entire rights and option to the Licensed TARP8 Technology as of the date of the expiration of the Option Period (or, if later, the date on which the Option Fee is due and not received by Xxxxxxx).
In the event of any termination of this Agreement, the $2,000,000 Pre-Closing Collaboration and Option Fee (as defined in the Term Sheet) paid by Telix Pharmaceuticals (US) Inc.