Receptos Election Sample Clauses

Receptos Election. Receptos may terminate this Agreement at any time upon sixty (60) days notice to AbbVie if (i) the Complete Data Package has been delivered to AbbVie, (ii) notwithstanding its exercise of Commercially Reasonable Efforts, Receptos is unable to proceed with the Development Plan Study or the objectives of the Development Plan Study are reasonably determined by Receptos to be unachievable or materially frustrated, or (iii) the Development Plan Study is suspended for a period of nine (9) months or longer or halted indefinitely by a Regulatory Authority.