Extension of the Option Period Clause Samples

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Extension of the Option Period. Provided that PMC has exercised the Option in at least one (1) Field of Use in accordance with Section 2.2.1 hereinabove, PMC shall have the right to extend the Option Period for any other Field of Use for one (1) additional period of [***] by providing written notice to CORIXA of PMC's intention to extend the Option Period not less than thirty (30) days prior to the expiration of the initial Option Period.
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Extension of the Option Period. The definition of Option Period in Section 1.37 of the Option Agreement as amended is hereby deleted in its entirety and replaced with the following: “The period that begins on the Effective Date and ends on the earlier of (a) December 31, 2028, and (b) the date the Option Holder delivers to the Owner the Option Exercise Notice.”
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Extension of the Option Period. If Grifols wishes to have additional time to decide whether to exercise the Option, Grifols, in its sole discretion, may extend the Option Period for an additional 2 months (reflecting a new Option Period of 6 months from start date) by written notification submitted to Aradigm at least 15 days prior to the end of the initial 4 month Option Period. During this 2 month extension, Grifols will pay Aradigm for all time spent by Aradigm employees at Aradigm’s fully burdened FTE rate and for all associated out-of-pocket expenses in supporting Grifols’ further evaluation of the AERx Inhaler Platform. If at the end of this 2 month extension period Grifols has not given notice to Aradigm of its intent to exercise the Option, the Option will expire and the Option Period may not be further extended unless by mutual agreement.
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Extension of the Option Period. Pursuant to the Agreement, the Vendor, DSI Korea, the Purchaser and the Company have entered into the Option Deed pursuant to which DSI Holdings Pty Limited (the “Purchaser”), a wholly-owned subsidiary of the Company, has been granted the Option to acquire all or some (at the absolute discretion of the Purchaser) of the Option Assets from the Vendor within the Option Period which started from 15 June 2009, the date of Completion, to six months after the date of Completion, subject to several conditions.
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Extension of the Option Period. OPTIONEE may extend the Option Period, in its sole discretion, for an additional eighteen (18) months, by written notice to INTERSIL; provided, however, that the Option Period shall be extended automatically, without payment of any fee, including the Extension Payment, for periods equal to (a) the duration of any delays in the completion by INTERSIL of its obligations under Section 3.1(b), and (b) the duration of any waiting period under the ▇▇▇▇-▇▇▇▇▇-▇▇▇▇▇▇ Antitrust Improvement Act of 1976, as amended (the "HSR Act"), that may be applicable to the transactions contemplated in this Agreement or any other approval required or necessary from any Federal, State, local or foreign governmental authority as described in Section 5.4 hereof.
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Extension of the Option Period into Option Period Three shall remain discretionary on Omeros’ part unless prior to the end of Option Period Two no Closing has occurred and Omeros has achieved the De-Orphanization Milestone, in the event of which occurrences Omeros shall be required to extend the Option Period into Option Period Three. If Omeros extends the Option Period into Option Period Three by providing notice as set forth in Section 2.3 of the Agreement, Omeros shall instead of paying the full Option Fee Three shall pay the difference of the amount of Option Fee Three less the amount of the Extension Fee (i.e., the $650,000 CAD Option Fee Three less the $108,333 CAD Extension Fee = $541,667 CAD).
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Extension of the Option Period. The Option Period is now extended from 31 December 2020 to 30 June 2021.
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Related to Extension of the Option Period

  • Term of the Option The term of the Option (the “Option Period”) shall be for a period of ten (10) years from the Effective Date, terminating at the close of business on the tenth anniversary of the Effective Date (the “Expiration Date”) or such shorter period as provided in Section 6 hereof.

  • Termination of the Option The Option shall terminate and may no longer be exercised after the first to occur of (a) the close of business on the Option Expiration Date, (b) the close of business on the last date for exercising the Option following termination of the Participant’s Service as described in Section 7, or (c) a Change in Control to the extent provided in Section 8.

  • Extension of the Term At least two months prior to the third anniversary of the Effective Date, the Parties will evaluate the effectiveness of this Agreement and decide whether to extend the Term.

  • Option Period Pursuant to the Contract, the following are the Adjustment Factors for the term ending October 20, 2023: Date Index 1 August 2019 11311.06 3 October 2019 11326.12 6 January 2020 11392.41 7 February 2020 11396.01 8 March 2020 11396.97 9 April 2020 11412.67 10 May 2020 11418.16 11 June 2020 11436.23 12 July 2020 11439.11 Date Index 1 August 2021 12463.13 2 September 2021 12464.55 3 October 2021 12464.94 4 November 2021 12467.32 5 December 2021 12481.82 6 January 2022 12555.55 7 February 2022 12683.97 8 March 2022 12791.43 9 April 2022 12898.96 10 May 2022 13004.47 11 June 2022 13110.50 12 July 2022 13167.84 Adjustment: Third Year Index Average = 12712.8733 = 1.1168 Base Year Index Average 11383.5283 WA−DC−GC03−100120−SWC Original Adjustment Factor x Adjustment = Adjustment Factor through 10/20/23 Normal Working Hours – Prevailing Wage 1.0378 1.1168 1.1590 Other Than Normal Working Hours – Prevailing Wage 1.0638 1.1168 1.1881 Normal Working Hours – Non−Prevailing Wage 1.0357 1.1168 1.1567 Other Than Normal Working Hours – Non− Prevailing Wage 1.0605 1.1168 1.1844 Non Pre−Priced 1.1627 1.0000 1.1627

  • Extension Option Subtenant shall have the right (the “Extension Right”) to extend the Term of this Sublease for a single additional period of three (3) months (the “Sublease Extension Term”) on the same terms and conditions as this Sublease (other than Base Rent) by giving Sublandlord written notice of its election to exercise the Extension Right at least eight (8) months prior to the Expiration Date of the initial Term, which notice, once given, shall be irrevocable. If Subtenant timely elects to exercise such right to the Sublease Extension Term, the Sublease Extension Term shall commence on the day immediately following the initial Expiration Date. During the Sublease Extension Term, Base Rent for each portion of the Subleased Premises shall be payable at a rate equal to 103% of the rate in effect with respect to such portion of the Subleased Premised on the initial Expiration Date. The Extension Right is personal to Subtenant and shall not be assignable without Sublandlord’s and Prime Lessor’s consent in their respective sole discretion, except that it may (subject to obtaining the consent of Prime Lessor to the extent required under Section 22 of the Prime Lease) be assigned in connection with a Corporate Permitted Assignment of this Sublease. Notwithstanding the foregoing, Subtenant may not exercise the Extension Right (i) during any period of time that Subtenant is in default under any provision of this Sublease, (ii) if Subtenant has been in default under any provision of this Sublease two (2) or more times, whether or not the defaults are cured, during the last year of the initial Term of this Sublease, or (iii) if Subtenant is not in occupancy of at least eighty percent (80%) of the entire Subleased Premises both at the time of the exercise of the Extension Right and at the time of the commencement date of the Sublease Extension Term. The Extension Right shall terminate and be of no further force or effect even after Subtenant’s due and timely exercise of the Extension Right, if after such exercise, but prior to the commencement date of the Sublease Extension Term, (i) Subtenant fails to timely cure any default by Subtenant under this Sublease, or (ii) Subtenant has defaulted two (2) or more times during the period from the date of the exercise of the Extension Right to the date of the commencement of the Sublease Extension Term, whether or not such defaults are cured.