Examples of PoC Option in a sentence
The following milestones shall apply in the event that GSK exercises the PoC Option with respect to a Collaboration Compound resulting from a TPP Subprogram in Project 2.
The jurisdiction and venue of any action pertaining to the interpretation or enforcement of this IGA shall be in the District Court of Mesa County, Colorado.
The following milestones shall apply in the event that GSK exercises the PoC Option with respect to a Collaboration Compound resulting from Project 3.
In the event that Anacor does not request, within [***] following the expiration of such PoC Option Deadline Period, a non-exclusive, sublicensable license under the GSK IP as provided herein, GSK shall be free to grant to any Third Party rights under the GSK IP for the use, manufacture, sale or commercialization of such Anacor Development Compound.
The following milestones shall apply in the event that GSK exercises the PoC Option with respect to a Collaboration Compound resulting from Project 4.
In the event that such estimate of delivery date is found to be more than [...***...] months past the estimated date, GSK shall have a [...***...] extension for the time allowed hereunder to exercise the PoC Option.
In the event that the PoC Option Deadline Period expires without GSK having exercised its PoC Option with respect to a particular PoC Compound, Anacor shall have the exclusive right, at its sole discretion, to develop such PoC Compound in the Territory in the Field as an Anacor Development Compound and a Product, alone or with any Third Party or through any Sublicensee.
The applicable royalty rates for a particular Product shall depending on whether GSK elected the GSK Development Compound contained in such Product by exercising a Candidate Selection Option or a PoC Option.
Upon GSK's exercise of its PoC Option as provided herein, (i) such PoC Option Compounds shall be deemed GSK Development Compounds, (ii) and GSK shall have no other Options with respect to Project 1 or 3, as applicable, (iii) GSK shall have no other Options with respect to the TPP Subprogram for which the Option was exercised in Project 2 or 4, as applicable, and (iv) the Research Collaboration Term shall expire with respect to Project 1 or 3, as applicable.
If the JRC agrees that the Collaboration Compound meets the PoC Compound Criteria, GSK shall have a right to exercise its PoC Option as to such Collaboration Compound pursuant to Section 4.2.