Common use of Exercise of License Option Clause in Contracts

Exercise of License Option. The option of Article 7.1 must be exercised by written notice mailed within [*] after either (i) RPRP and Introgen, respectively, receives written notice from PHS that the patent or other IP application has been filed; or (ii) the date Introgen files such IP application (Party responsible for patent prosecution); whichever comes first. Exercise of this option by either or both RPRP and Introgen initiates a negotiation period that expires [*] after the exercise of the option. If the last proposal by RPRP and/or Introgen has not been responded to in writing by PHS within this [*] period, the negotiation period shall be extended [*] Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.

Exercise of License Option. The option of Article Article 7.1 must be exercised by written notice mailed within [*] after either (i) RPRP and Introgen, respectively, receives written notice from PHS that the patent or other IP application has been filed; or (ii) the date Introgen files such IP application (Party responsible for patent prosecution); whichever comes first. Exercise of this option by either or both RPRP and Introgen initiates a negotiation period that expires [*] after the exercise of the option. If the last proposal by RPRP and/or Introgen has not been responded to in writing by PHS within this [*] period, the negotiation period shall be extended [*] Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.