Common use of PROTECT Clause in Contracts

PROTECT. 2 Trial. In addition, where CCX282 meets the primary endpoint for the PROTECT-1 Induction Phase as set forth in the protocol therefor and no serious adverse events have been reported sufficient to terminate the continued Development of CCX282 and CCX282 meets the tolerability criteria set forth in the protocol for the PROTECT-1 Trial (referred to herein as “Successful CD Induction Results”), [***], and ChemoCentryx, shall have the right, but not the obligation, to commence the PROTECT-2 Trial as established by the JPS in accordance with Sections 2.3.6 and 2.3.8(b) and in accordance with the CCX282 Development Plan; provided however that in the event GSK exercises its Product Option with respect to CCX282 following completion of the PROTECT-1 Trial in accordance with Article 4, at such point GSK shall assume all responsibility for, and ongoing costs associated with the PROTECT-2 Trial and shall reimburse ChemoCentryx its internal and out-of-pocket costs incurred to date with respect to the PROTECT-2 Trial up to the time of such assumption of such trial by GSK.