Termination of Development by GSK. In the event that GSK exercises its Product Option and accepts a particular Progressed Compound into the Product Candidate Commercialization Program and thereafter determines in good faith, for any reason, to cease the development and commercialization of a Product Candidate or Licensed Product, either in its entirety, or on a country-by-country basis, and provides ChemoCentryx written notice of such intent, GSK shall be deemed to have terminated its rights to such Licensed Product and thereafter such Licensed Product shall be deemed a “Returned Licensed Product,” subject to the provisions of this Section 5.7.
Appears in 4 contracts
Samples: Product Development and Commercialization Agreement, Product Development and Commercialization Agreement (ChemoCentryx, Inc.), Product Development and Commercialization Agreement (ChemoCentryx, Inc.)
