Common use of Lilly Option Exercise Clause in Contracts

Lilly Option Exercise. If Lilly exercises its Option, Lxxxx shall, subject to Section 11.4(c)(v), have the first right, but not the obligation, to defend and control the defense of any Defensive Joint New Patent Action relating to Lxxxx’x rights to Companion Diagnostics under Section 3.4(b). If Lxxxx does not intend to exercise its first right to defend such a Defensive Joint New Patent Action within the earlier of (i) [**] of receipt of notice of the applicable Joint New Patent Challenge and (ii) [**] before the deadline for filing of a response to the notice of the applicable Joint New Patent Challenge (including any extensions that Lxxxx has obtained), it shall, within [**], notify Telix in writing and Telix may, by written notice to Lxxxx, defend and control such Defensive Joint New Patent Action with respect to the applicable Joint New Patent Challenge.