Substitution Cap definition
Substitution Cap has the meaning set forth in Section 2.3.2(a).
Substitution Cap means the number of Mortgaged Properties set forth in Article 1 that are eligible for a Substitute Property Transfer under Section 7.07.
Substitution Cap has the meaning assigned to it in Section 2.c.i (Records Substitution).
Examples of Substitution Cap in a sentence
If a proposed Target is not selected as a substitute Licensed Target due to it being [***] Target, such Target will not count against the Substitution Cap.
If, during the Nomination Period, such Target ceases to be [***] Target, Sirius will promptly notify CRISPR that such Target is no longer [***] Target, and, thereafter, subject to the Substitution Cap, CRISPR may at its option (exercisable at any time within [***] days of CRISPR’s receipt that such Target is no longer [***] Target) replace a Licensed Target with such Target.
More Definitions of Substitution Cap
Substitution Cap means an amount equal to $62,500.000.