Common use of Prior to Exercise of Option Clause in Contracts

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

Appears in 1 contract

Samples: Option and License Agreement (Anacor Pharmaceuticals Inc)

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