Provision Language
MSD–MPP Agreement
6. Term And Termination
6.1 Term. Unless otherwise terminated by the operation of law or by acts of the parties in accordance with the terms of this Agreement, this Agreement will be in force from the Effective Date and will remain in effect until expiration of the Royalty Term.
6.1A On a country–by–country and Product–by–Product basis, royalty payments in the Territory shall commence upon the first commercial sale of such Product in such country and would terminate upon the later of: (a) the expiration, invalidation or abandonment date of the last Patent that includes a Valid Claim that covers such Product in such country in the Territory; (b) ten (10) years from first commercial sale of such Product in such country in the Territory; or (c) expiration of regulatory exclusivity of such Licensed Product in such country in the Territory (the “Royalty Term”).
Form of Sublicense Agreement
10. Term And Termination
10.1 Term. Unless otherwise terminated by the operation of law or by acts of the parties in accordance with the terms of this Agreement, this Agreement will be in force from the Effective Date and will remain in effect until expiration of all of Licensee’s obligations to pay royalties to MSD pursuant to Article 5A.