Common use of GSK Continuing Rights Clause in Contracts

GSK Continuing Rights. Upon the termination of this Agreement by GSK pursuant to Section 9.3 or Section 9.4, GSK shall continue to have the exclusive right to research, develop and commercialize Products comprising GSK Antibodies derived and generated from GSK Sequence Pairs selected prior to the effective date of such termination until the expiration of the Term in accordance with Section 9.1.1, pursuant to the Licenses and rights granted to GSK in Section 2.1.2, which shall continue in full force and effect solely with respect to such Products subject to the payment by GSK of the applicable amounts set out in Article 4. Subject to the last sentence of Section 4.5.2, if GSK terminates this Agreement in its entirety pursuant to Section 9.3, GSK shall then decrease any milestone and royalty payment payable to Zymeworks in respect of the Products by fifty percent (50%), for so long as GSK has the right to commercialize such Product on the terms set out under this Agreement.

GSK Continuing Rights. Upon the termination of this Agreement by GSK pursuant to Section 9.3 10.3 or Section 9.410.4, GSK shall continue to have the exclusive right to research, develop and commercialize GSK Products comprising GSK Antibodies derived and generated from GSK Sequence Pairs selected prior to the effective date of such termination until the expiration of the Term in accordance with Section 9.1.1termination, pursuant to the Licenses licenses and rights granted to GSK in Section 2.1.2, which shall continue in full force and effect solely with respect to GSK Products selected prior to the effective date of such Products termination subject to the payment by GSK of the applicable amounts set out in Article 4Sections 5.2 to 5.4 (and associated reporting obligations). Subject to the last sentence of Section 4.5.25.4.2, if GSK terminates this Agreement in its entirety pursuant to Section 9.310.3, GSK shall then decrease any milestone and royalty payment payable to Zymeworks in respect of the GSK Products by fifty percent (50%)[…***…]131, for so long as GSK has the right to commercialize such Product on the terms set out under this Agreement.”