Provision Language
Definitions
“Licensed Product Royalty Term” means, on a country-by-country and Licensed Product-by-Licensed Product basis, the period commencing on the Effective Date and ending on the earlier of : (a) the expiration of the last Valid Claim within the Patent Rights covering such Licensed Product in such country or (b) termination of this Agreement.
“Non-Covered Royalty Term” means the period commencing on the Effective Date and ending on the earlier of : (a) [***] after the First Commercial Sale of the first Know-How Enabled Product and (b) [***] after the First Commercial Sale of the first Licensed Product. For sake of clarity, the remainder of the royalty term for Licensed Products that cease to be covered by a Valid Claim of the Patent Rights shall be the Non-Covered Royalty Term.
10. Term and Termination
10.1 Term. The term of this Agreement shall commence on the Effective Date and, unless earlier terminated as provided in this Article 10, shall continue in full force and effect until the expiration of the Licensed Product Royalty Term or the Non-Covered Royalty Term, whichever is later (the “Term“).