Common use of Transfer of Inventory Clause in Contracts

Transfer of Inventory. Adolor shall be entitled to decide, --------------------- within its reasonably exercised discretion, whether (i) GSK shall sell to Adolor or its designee at cost all remaining inventory of the Terminated Collaboration Product which are in good saleable condition, or (ii) GSK shall be entitled to sell out such remaining inventory under the conditions set forth in this Agreement, including all payment obligations, during a period of six (6) months after termination. Inventory of the Terminated Collaboration Product not sold to Adolor or inventory not sold out by GSK shall be destroyed at GSK's sole cost and expense. If Adolor decides to elect for item (ii) herein, GSK's rights to use the Adolor Housemark pursuant to Section 2.4.4(b) and, to the extent applicable, and, without prejudice to any other provision of this Agreement, the GI Product Trademarks and the Adolor Product Trademarks shall survive termination until expiry of such six (6) month period or, if earlier, until such time as any existing inventory of labeling, package inserts or outserts, monographs or packaging materials or promotional materials for the Terminated Collaboration Product that contain the Adolor Housemark has been depleted.