Common use of COMMENCEMENT; TERM Clause in Contracts

COMMENCEMENT; TERM. GSK shall promptly commence and pursue a program of ongoing Development and commercialization for each Product Candidate as soon as practicable after the first exercise by GSK of a Product Option for a Product Candidate and receipt from ChemoCentryx of all reasonably required materials to proceed with further Development with respect to such Product Candidate (the overall program for all such Product Candidates referred to as the “Product Candidate Commercialization Program”).

COMMENCEMENT; TERM. With respect to each Program for which GSK exercises its Program Option, GSK shall promptly commence and pursue a program of ongoing Development and commercialization for each the Option Compound that has become a Product Candidate as soon as practicable after the first such exercise by GSK of a Product Option for a Product Candidate and receipt from ChemoCentryx Targacept of all reasonably required materials to proceed with further Development with respect to such Product Candidate (the overall program for all such Product Candidates referred to as the “Product Candidate Commercialization Program”).