Common use of Development Election Clause in Contracts

Development Election. During [ * ], GSK shall have the exclusive right, in its sole discretion, to elect to develop and commercialize each Development Compound proposed to it by EXEL as set forth below in Section 4.3, under the terms and conditions set forth in this Agreement (the "DEVELOPMENT ELECTION"). Subject to Section 5.5, any such Development Election by GSK shall be irrevocable.

Development Election. During [ * ], GSK shall have the exclusive right, in its sole discretion, to elect to develop and commercialize each Development Compound proposed to it by EXEL as set forth below in Section 4.3, under the terms and conditions set forth in this Agreement (the "DEVELOPMENT ELECTION"“Development Election”). Subject to Section 5.5, any such Development Election by GSK shall be irrevocable.