Common use of Royalty Term Clause in Contracts

Royalty Term. 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 in the Territory 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 Product in such country in the Territory (the “Royalty Term”).

Royalty Term. On a Royalties will be payable Product-by-Product and country-by-country and Product-by-basis from the First Commercial Sale of a Product basis, royalty payments in the Territory shall commence upon the first commercial sale of such Product in such country in the Territory and would terminate upon until the later of: (a) the expiration, invalidation or abandonment date expiration of the last Patent that includes a Valid Claim that covers such Product of [***] in such country in the Territory; and (b) ten (10) years from first commercial sale of the last to expire Regulatory Exclusivity period for such Product in such country in the Territory; or (c) expiration of regulatory exclusivity twelve (12) years from the First Commercial Sale of such Product in such country in the Territory (the “Royalty Term”).