Term of Royalty. Royalty Payments under this Article 5 shall be payable with respect to each calendar quarter through December 31, 2034, and the remaining obligations of PDI (and/or its Affiliates) under this Article 5 shall expire upon PDI’s satisfaction of all reporting and payment obligations with respect to such Royalty Payments; provided, however, Section 5.4 shall continue beyond such expiration in accordance with its terms. Notwithstanding any other provision herein to the contrary, if [***] or any of his Affiliates breach any of the covenants contained in Section 5.3 of the Stock Purchase Agreement related to non-competition or non-solicitation, after PDI provides written notice of such breach to [***], [***] pro rata portion of the Royalty Payments otherwise payable hereunder shall thereafter be paid into escrow until the claim of breach is resolved by (a) written agreement of PDI and [***] or (b) a final, non-appealable judgment or decree of any Governmental Body. If such resolution contemplates the payment of damages by [***] to PDI and/or its Affiliates, the funds paid into escrow shall be released first to PDI in an amount equal to the amount of such damages, and the remaining escrow funds, if any, shall then promptly be released to [***]. Notwithstanding the foregoing, all funds paid into escrow shall promptly be released to [***] if the dispute has not been resolved within 180 days after delivery by PDI of a notice of breach to [***], or such longer period as PDI and [***] may agree, if prior to the conclusion of such period neither PDI nor [***] has commenced a Legal Proceeding with respect to the alleged breach.
Term of Royalty. Royalty will be payable on a country by country basis until the last to expire of the patent or patents in such country covering PQ-1002, and, in a country where no patent ever issued covering PQ-1002, then until the last to expire of the patent or patents in the U.S., France, Germany or the United Kingdom covering PQ-1002.
Term of Royalty. Subject to Section 3(h) below, the term of the Net Smelter Returns Royalty shall be perpetual.
Term of Royalty. Notwithstanding the foregoing, Xxxxxx’x Royalty obligations pursuant to Section 4.3 (Royalties) shall expire, on a Product by Product and country by country basis, following the later of: (i) the last to expire of all Valid Claims in the Neurocrine Patent Rights or Program Patent Rights covering the making, having made, using, offering to sell, selling, and importing of Product in such country or (ii) […***…] following the First Commercial Sale in such country. Notwithstanding the foregoing, if, after the aforementioned Royalty term, Neurocrine is required to make royalty payments […***…].
Term of Royalty. The royalties payable pursuant to Section 7.4.1 and, if applicable, pursuant to Section 11.5 or 11.6, as adjusted pursuant to Section 7.4.2, will be payable on a country by country and Product by Product basis during the Full Royalty Rate Period. During the Reduced Royalty Rate Period for a Product, Wyeth shall have an exclusive license, except as otherwise provided under this Agreement, to use the ViroPharma Know-How in the Field and ViroPharma's interest in any Collaboration Know-How in the Field, to make, have made, use, import, offer to sell and sell such Product in such country. In consideration of such license, Wyeth shall pay to ViroPharma a royalty in the amount of three percent (3%) of the Net Sales obtained from the sale by Wyeth and its Affiliates of such Product in such country, which royalty shall be payable only for sales made during the Reduced Royalty Rate Period. On a country by country basis, upon expiration of the Reduced Royalty Rate Period, the license granted to Wyeth with respect to such country under this Section 7.4.3 shall continue to be a perpetual license which thereafter shall become irrevocable, fully-paid and royalty-free license, exclusive except for the license granted pursuant to Section 6.1.15.
Term of Royalty. Royalties will be payable on a country by country and a Collaboration Product by Collaboration Product basis until the later of (i) the last to expire of the Patent Rights included within the Collaboration Technology, containing a Valid Claim which would be infringed by the sale of such Collaboration Product in such country or (ii) 10 (ten) years following the First Commercial Sale in such country. Upon the expiration of GSK's final remaining obligation to pay Royalties to Neurocrine hereunder with respect to a Collaboration Product in each such country, GSK shall have a fully paid, irrevocable, exclusive and unrestricted license under the Neurocrine Technology to make, have made, use, sell, and offer to sell and import such Collaboration Product in such country.
Term of Royalty. Royalties shall be payable on a Product by Product basis until the later of (i) the date when the last remaining Valid Claim within the Neurocrine Patent Rights, which would be infringed by the sale of the Product in the Territory but for the license granted hereunder, expires, lapses, or is adjudicated, admitted, or declared invalid or unenforceable or (ii) [...***...] years following the First Commercial Sale of the Product in the Territory. Upon the expiration of DSP’s final remaining obligation to pay Royalties to Neurocrine hereunder with respect to a Product in the Territory, DSP shall have a fully paid, irrevocable, non-exclusive and unrestricted license under the Neurocrine Technology to make, have made, use, develop, sell, have sold, and offer to sell and import the Product in the Territory.
Term of Royalty. Royalties will be payable on a country by country basis on a Patented Product until the last to expire of the patents covering such Patented Product and on an Unpatented Product for [ * ] years from first commercial sale of the Unpatented Product.
Term of Royalty. AVENTIS' royalty obligations to CIMA hereunder shall terminate upon the later of (i) ten (10) years from the Effective Date of this Agreement or (ii) on a country-by-country basis, on the expiration date in such country of the last to expire of issued CIMA Patents which include at least one Valid Claim covering the manufacture, sale or use of the Product in such country. Notwithstanding anything to the contrary contained in the previous sentence, the Parties agree that in the event that (a) the ten (10) year period referred to in (i) above has not expired and a Valid Claim does not exist covering the manufacture, sale or use of the Product and (b) a third party commences the sale of a product containing the API and CIMA Technology in a country where a Valid Claim does not exist, then AVENTIS shall not owe CIMA any royalties for its sale of Products in such country until the third party sale ceases. Upon expiration or termination of AVENTIS' royalty obligation in any country, AVENTIS shall have the royalty-free right in that country to continue using the CIMA Technology furnished hereunder in that country.
Term of Royalty. Sales of Covered Products on a country-by-country basis will be includable in the determination of royalties payable as provided in Section 2.2 or 2.8, as the case may be, until the later to occur of (a) the 15th anniversary of the date of the first commercial sale of any Covered Product in the country in question; and (b) if applicable, the date as of which none of the acts of the making, using, offering for sale, or selling such Covered Product would, without giving effect to the license hereunder, infringe any Patent in such country. Upon the expiration of Pilot's obligation to pay royalties pursuant to this Section 2.3, Pilot shall retain a paid-up, perpetual non-exclusive license as otherwise provided in Section 2.1.
