Common use of Election to Participate in Development Clause in Contracts

Election to Participate in Development. The Other Party may reverse its election not to pursue such development, by Notice to the Proposing Party, at any time prior to the registration of such New Indication or Line Extension in the first country in Territory A in which registration is made, subject to the reimbursement of [*] of [*] costs incurred by the Proposing Party with respect to such New Indication or Line Extension as of the date on which such Notice is made. In the event of such reimbursement, the Proposing Party and the Other Party shall thereafter share [*] costs incurred after the date on which such Notice is made with respect to such development, and the [*] set forth in Section [*] hereof shall be [*] by [*], from [*] to [*]of Net Sales of such Product in Territory A attributable to such New Indication or Line Extension; provided, however, that only the Proposing Party shall be entitled to [*].

Election to Participate in Development. The Other Party may reverse its election not to pursue such development, by Notice to the Proposing Party, at any time prior to the registration of such New Indication or Line Extension in the first country in Territory A B in which registration is made, subject to the reimbursement of [*] of all [*] costs incurred by the Proposing Party with respect to such New Indication or Line Extension as of the date on which such Notice is made. In the event of such reimbursement, the Proposing Party and the Other Party shall thereafter share [*] costs incurred after the date on which such Notice is made with respect to such development, and the [*] set forth in Section [*] hereof shall be [*] by [*], from [*] to [*]] of Net Sales of such the Product in Territory A attributable to such New Indication or Line ExtensionB [*]; provided, however, that only the Proposing Party shall be entitled to [*].