Common use of Limited Global Development Option Clause in Contracts

Limited Global Development Option. At any time prior to the expiry of the Global Option Exercise Period for Product under Article 2.1, Lilly may exercise a global development option for such Product (“Development Option”) by paying Xxxxxxxxx [**]. Upon exercise of a Development Option for the Product, Xxxxxxxxx will, for the duration of the Global Option Exercise Period for such Product, xxxxx Xxxxx a fully paid-up, non-exclusive limited license, without the right to sublicense, under Xxxxxxxxx Patents and the Xxxxxxxxx Know-How as of such time, without a right to Commercialize, to Develop such Product in the Field outside the Territory. Lilly may then, at its sole discretion, conduct pre-clinical and clinical Development studies in the Field outside the Territory for such Product. In the event that Lilly does not exercise the Global Option for the Product within such Product’s Global Option Exercise Period, Xxxxxxxxx may, at its discretion, purchase the data produced by Lilly under the Development Option for an amount not to exceed Lilly’s incurred Development costs in developing the data.