Common use of VALID CLAIMS Clause in Contracts

VALID CLAIMS. Subject to Section 5.9, for any country in which a Valid Claim covers the Licensed Product, Licensee or its sublicensees shall pay Caltech a royalty of *** percent (***%) of Net Revenues. Royalties due under this Section 5.2 shall be payable on a country-by-country and Licensed Product-by-Licensed Product basis until the expiration of the last-to-expire patent under the Exclusively Licensed Patent Rights covering such Licensed Product in such country.

VALID CLAIMS. Subject to Except as otherwise provided in Section 5.9, for any country in which a Valid Claim covers the Licensed Product5.6 below, Licensee or its sublicensees shall pay Caltech a royalty of *** one percent (***1%) of Net RevenuesRevenues in countries in which the Licensed Product is covered by at least one Valid Claim. Royalties due under this Section 5.2 shall be payable on a country-by-country and Licensed Product-by-Licensed Product basis until the expiration of the last-to-expire patent under the Exclusively Licensed Patent Rights issued Valid Claim covering such Licensed Product in such country.