Common use of Term of Royalty Payments Clause in Contracts

Term of Royalty Payments. Royalty payments shall continue to accrue and be payable with respect to Net Sales of Products and will automatically expire on a country-by-country basis on the later of (i) [*] from first commercial sale of a Product in any country or (ii) the expiration (or revocation) of the last to expire (or be revoked) of the Valid Claims in such country with respect to a Product.

Term of Royalty Payments. Royalty payments shall continue to accrue and be payable with respect to Net P&U Sales of Products and will automatically expire on a country-by-country and Product-by-Product basis on upon the later earlier to occur of (ia) [*] from first commercial sale of a Product in any country or (ii) the expiration (or revocation) of the last to expire (or be revoked) of the Valid Claims in such country with respect to a Product.b), where: