Common use of Following Exercise of Option Clause in Contracts

Following Exercise of Option. Following GSK's exercise of its Option, and before GSK's termination of Development and commercialization, with respect to the Collaboration Compounds that are the subject of any Competitive Infringement, GSK shall have the primary right, but not the obligation, to institute, prosecute, and control any action or proceeding with respect thereto by counsel of its own choice, and Anacor shall have the right, at its own expense, to be represented in that action by counsel of its own choice. If GSK fails to bring an action or proceeding within a period of [***] after first being notified of such Competitive Infringement, Anacor shall have the right to bring and control any such action by counsel of its own choice, and GSK shall have the right to be represented in any such action by counsel of its own choice at its own expense.

Appears in 3 contracts

Samples: Research and Development Collaboration, Option and License Agreement (Anacor Pharmaceuticals Inc), Research and Development Collaboration, Option and License Agreement (Anacor Pharmaceuticals Inc), Research and Development Collaboration, Option and License Agreement (Anacor Pharmaceuticals Inc)

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Following Exercise of Option. Following GSK's ’s exercise of its an Option, and before GSK's ’s termination of Development and commercialization, with respect to the Collaboration Program containing Compounds that are the subject of any Competitive Infringement, GSK shall have the primary right, but not the obligation, to institute, prosecute, and control any action or proceeding with respect thereto by counsel of its own choice, and Anacor PROSENSA shall have the right, at its own expense, to be represented in that action by counsel of its own choice. If GSK fails to bring an action or proceeding within a period of [***] * * * * * after first being notified of such Competitive Infringement, Anacor PROSENSA shall have the right to bring and control any such action by counsel of its own choice, and GSK shall have the right to be represented in any such action by counsel of its own choice at its own expense.

Appears in 2 contracts

Samples: Research and Development Collaboration and License Agreement (Prosensa Holding B.V.), Research and Development Collaboration and License Agreement (Prosensa Holding B.V.)

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