Common use of Term of Royalties Clause in Contracts

Term of Royalties. Virobay’s obligations to pay Royalties under Section 6.4 will commence upon the First Commercial Sale of an Assigned Product or a Combination Product anywhere in the world and continue, on an Assigned Product-by-Assigned Product or a Combination Product-by-Combination Product and country-by-country basis, until the expiration of the last-to-expire valid claim of an issued and enforceable Celera Patent and Virobay Patent that covers the manufacture, use, sale, offer for sale or import of such Assigned Product in such country.

Term of Royalties. Virobay’s obligations to pay Royalties under Section 6.4 6.3 will commence with respect to a given country upon the First Commercial Sale of an Assigned Product or a Combination Product anywhere in the world such country and continue, on an Assigned Product-by-Assigned Product or a Combination Product-by-Combination Product and country-by-country basis, until the expiration of the last-to-expire valid claim of an issued and enforceable Celera Patent and Virobay Derived Patent that covers the manufacture, use, sale, offer for sale or import of such Assigned Product or Combination Product in such country.