Common use of Following Exercise of Product Option Clause in Contracts

Following Exercise of Product Option. Following GSK’s exercise of its Product Option with respect to the Progressed Compounds which 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 ChemoCentryx 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 one hundred twenty (120) days after first being notified of such Competitive Infringement, ChemoCentryx 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.