Examples of Option Grant Fee in a sentence
The “Evaluation Period” means the period of time that commenced on the date that the MTA came into effect and ends upon the earlier of: (i) sixteen (16) weeks after Aptose’s receipt of the Additional Materials under Section 2.3 (Activities During Evaluation Period) below, or such later date as the Parties may agree in writing; and (ii) Aptose’s payment of the Option Grant Fee in accordance with Section 2.5 (Option Grant) below.
In the event that Aptose pays the Option Grant Fee, the Parties agree to issue a joint press release substantially in a form agreed by the Parties.
Upon Aptose’s payment of the Option Grant Fee, CG agrees to grant, and hereby grants, Aptose: (i) the Option (as specified in Section 3.1, below), and (ii) the preclinical development license in Section 3.2, below, and the Parties shall thereupon enter the Option Period as set forth in Article 3, below.
During the Evaluation Period, Aptose will have the right to conduct additional studies of CG’806 to obtain data useful to determine whether to pay the Option Grant Fee (the “Additional Studies” and collectively with the MTA Studies, the “Aptose Studies”).
For clarity, Aptose is under no obligation to pay the Option Grant Fee, and Aptose’s failure to pay the Option Grant Fee is not a breach of this Agreement and will not give rise to any right or remedy of CG except as expressly set forth herein.
Upon Aptose’s payment of the Option Grant Fee, this Article 3 comes into effect for the duration of the Option Period (defined below), and except as expressly set forth in this Article 3, no other provision of this Agreement shall be of any force or effect.
Aptose hereby represents and warrants to CG that, as of the Execution Date, Aptose has not entered into any agreement or arrangement with a Third Party that impairs Aptose’s ability to assign any Data pursuant to Aptose’s obligations under Sections 2.6 (Effects of Aptose’s Failure to Pay Option Grant Fee), 3.9 (Effects of Aptose’s Failure to Exercise Option) and 12.4 (Results of Termination), and any other similar provisions in this Agreement.