Common use of Option Term Extension Clause in Contracts

Option Term Extension. In the event that there are additional bona fide Development activities that Licensee desires to undertake under a Program Plan, where such activities will reasonably require an extension of the Option Term, then Licensee may extend the Option Term for such Program Plan by up to six (6) months by [***].

Appears in 2 contracts

Sources: Option and License Agreement (Inhibrx, Inc.), Option and License Agreement (Inhibrx, Inc.)