Common use of Expiration of Royalty Term Clause in Contracts

Expiration of Royalty Term. Upon the expiration of the Royalty Term for a given Licensed Product in a particular country, the exclusive rights granted to the Commercializing Party will expire in such country with respect to such Licensed Product, and the license under Section 4.4(a) or Section 4.4(b), as applicable, with respect to such Licensed Product in such country shall become fully paid, perpetual, irrevocable and non-exclusive.

Expiration of Royalty Term. Upon the expiration of the Royalty Term for with respect to a given Licensed Product in a particular country, the exclusive rights license granted to the Commercializing Party will expire in such country with respect to such Licensed Product, and the license Xxxxxxx under Section 4.4(a) or Section 4.4(b), as applicable, 5.1.1 with respect to such Licensed Product in such country shall will automatically become fully fully-paid, perpetualroyalty-free, irrevocable perpetual and non-exclusiveirrevocable. For the avoidance of doubt, any sales of such Licensed Product in such country following such expiration will be excluded from Annual Aggregate Net Sales of Licensed Products for purposes of any Sales Milestone Payments under Section 4.3 or royalties under this Section 4.4.

Expiration of Royalty Term. Upon the expiration of the Royalty Term for with respect to a given Licensed Product in a particular given country, the exclusive rights license granted to the Commercializing Party will expire in such country with respect to such Licensed Product, and the license Xxxxxxx under Section 4.4(a) or Section 4.4(b), as applicable, 5.1 with respect to such Licensed Product in such country shall will automatically become fully paidfully-paid up, perpetualroyalty- free, irrevocable perpetual and non-exclusiveirrevocable. For the avoidance of doubt, any sales of such Licensed Product in such country following such expiration will be excluded from Annual Aggregate Net Sales of Licensed Products for purposes of any Sales Milestone Payments under Section 4.3 or royalties under this Section 4.4.