Royalty Duration. LICENSEE’s obligation to pay ROYALTIES on SALES of each LICENSED PRODUCT shall remain in effect for the longer of (i) 10 years from date of FIRST COMMERCIAL SALE, or (ii) the expiration of all VALID CLAIMS, and thereafter LICENSEE shall no longer be obligated to pay ROYALTIES in connection with the SALES of each LICENSED PRODUCT.
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Samples: Exclusive License Agreement (BullFrog AI Holdings, Inc.), Exclusive License Agreement (BullFrog AI Holdings, Inc.)
Royalty Duration. LICENSEE’s obligation to pay ROYALTIES on SALES of each LICENSED PRODUCT, on a country-by-country and LICENSED PRODUCT-by- LICENSED PRODUCT basis, shall remain in effect for the longer of (i) 10 ten (10) years from date of FIRST COMMERCIAL SALE, or (ii) the expiration of all VALID CLAIMS, and thereafter LICENSEE shall no longer be obligated to pay ROYALTIES in connection with the SALES of each LICENSED PRODUCT.
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Samples: Exclusive License Agreement (Inhibitor Therapeutics, Inc.)
Royalty Duration. LICENSEE’s obligation to pay ROYALTIES on SALES of each LICENSED PRODUCT shall remain in effect for the longer of (i) 10 years from date of FIRST COMMERCIAL SALE, or (ii) the expiration of all VALID CLAIMS, and thereafter LICENSEE shall no longer be obligated to pay ROYALTIES in connection with the SALES of each LICENSED PRODUCT.
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Samples: Exclusive License Agreement (Denali SPAC Holdco, Inc.)
Royalty Duration. LICENSEE’s obligation to pay ROYALTIES on a country-by-country basis on SALES of each LICENSED PRODUCT in such country, and shall remain in effect for the longer of (i) 10 * years from the date of FIRST COMMERCIAL SALESALE in such country, or (ii) the expiration of all VALID CLAIMS, and thereafter LICENSEE shall no longer be obligated to pay ROYALTIES CLAIMS in connection with the SALES of each LICENSED PRODUCTsuch country.
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