Licensee Royalty Term definition

Licensee Royalty Term means, on a country-by-country and Product-by-Product basis, the period commencing on the First Commercial Sale of a Product by Licensee, its Affiliates or (Sub)licensees in such country in the Territory and continuing until the later of: (a) the expiration of the last to expire Valid Claim in a Takeda Compound Patent or Joint Patent covering the composition of matter, Manufacture or approved use of the Compound or such Product in such country; (b) the expiration of the applicable Regulatory Exclusivity in such country; or (c) [***] after First Commercial Sale of such Product by Licensee, its Affiliates or (Sub)licensees in such country.
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Licensee Royalty Term means the period [ * ]
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Licensee Royalty Term shall have the meaning provided in Section 8.6(a).
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Examples of Licensee Royalty Term in a sentence

  • Subject to Sections 8.5-8.8 below, and during the applicable Licensee Royalty Term, in partial consideration for Licensee’s rights in and to the Takeda Intellectual Property and other rights granted to Licensee hereunder, Licensee shall pay to Takeda a running royalty at the following incremental royalty rates, on total aggregate Net Sales of the Product by Licensee, its Affiliates and (Sub)licensees in the Territory during each Calendar Year.

  • Except as set forth in Section 12.13, unless earlier terminated by mutual agreement of the Parties in writing or pursuant to the provisions of this Article 10, this Agreement will become effective as of the Effective Date and continue in full force and effect until the expiration of the Licensee Royalty Term with respect to all Licensed Products throughout the Territory (the “Term”).


More Definitions of Licensee Royalty Term

Licensee Royalty Term means the period commencing with the First Commercial Sale of a Licensed Product in the Territory and ending on the later of (a) the expiration of the last to expire Valid Claim of the Teikoku Patent Rights which, but for the licenses granted herein, would be infringed by the manufacture, sale or importation of a Licensed Product in the Territory, and (b) twenty-five (25) years from the date of First Commercial Sale of a Licensed Product in the Territory.
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Related to Licensee Royalty Term

  • Royalty Term means, on a country-by-country basis, the period commencing on the First Commercial Sale of a Licensed Product in a country and ending on the latest of (a) ** thereafter, (b) expiration of the last-to-expire Valid Claim of a Licensed Patent that Covers the composition of matter of the Licensed Product in the country in which it is sold, or (c) the expiration of all Regulatory Exclusivity Rights with respect to such Licensed Product in the country in which it is sold.

  • Royalty Period means the partial calendar quarter commencing on the date on which the first Licensed Product is sold or used and every complete or partial calendar quarter thereafter during which either (a) this Agreement remains in effect or (b) Company has the right to complete and sell work-in-progress and inventory of Licensed Products pursuant to Section 8.5.

  • Sublicense Fees shall have the meaning set forth in Section 7.3 below.

  • License year means the period of time for which a

  • License Term means the duration of a License as specified in the Order.

  • Licensed producer means an agent, broker, or reinsurance intermediary licensed pursuant to the applicable provision of the insurance law of any jurisdiction.

  • Royalty Product means, either (a) an Alnylam Royalty Product, or (b) an Inex Royalty Product.

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.

  • Licensed Product means a product or part of a product in the Licensed Field of Use: (A) the making, using, importing or selling of which, absent this license, infringes, induces infringement, or contributes to infringement of a Licensed Patent; or (B) which is made with, uses or incorporates any Technology.

  • Royalty means an interest in an oil and gas lease that gives the owner of the interest the right to receive a portion of the production from the leased acreage (or of the proceeds of the sale thereof), but generally does not require the owner to pay any portion of the costs of drilling or operating the wells on the leased acreage.

  • Net Sales means [***].

  • Sublicense Revenues means [***].

  • License Period means the period beginning from the Commencement Date and ending on the Termination Date.

  • Sublicense Revenue means [***].

  • Licensed Products means tangible materials which, in the course of manufacture, use, sale, or importation, would be within the scope of one or more claims of the Licensed Patent Rights that have not been held unpatentable, invalid or unenforceable by an unappealed or unappealable judgment of a court of competent jurisdiction.

  • Licensee has the meaning set forth in the preamble.

  • CREFC® Intellectual Property Royalty License Fee With respect to each Mortgage Loan (including any REO Mortgage Loan) and for any Distribution Date, the amount accrued during the related Interest Accrual Period at the CREFC® Intellectual Property Royalty License Fee Rate on, in the case of the initial Distribution Date, the Cut-Off Date Balance of such Mortgage Loan and, in the case of any subsequent Distribution Date, the Stated Principal Balance of such Mortgage Loan as of the close of business on the Distribution Date in the related Interest Accrual Period; provided that such amounts shall be computed for the same period and on the same interest accrual basis respecting which any related interest payment due or deemed due on the related Mortgage Loan is computed and shall be prorated for partial periods. For the avoidance of doubt, the CREFC® Intellectual Property Royalty License Fee shall be payable from the Lower-Tier REMIC.

  • Third Party Royalties means royalties or payments actually paid by the Company or its Affiliates to an unaffiliated third party for the right to use or exploit technology, products or proprietary rights of such third party to create or sell Licensed Product/s, which third party’s rights would otherwise be infringed or violated.

  • License Fee means the amount payable by the licensee to DMRC as per rates offered by the Selected Bidder for utilization of licensed space and accepted by DMRC to be paid by the Licensee along with other charges and any kind of Central or State Taxes, local levies, statutory dues, etc. that may be payable by the licensee as per prevalent law.

  • Licensed Territory means worldwide.

  • Collaboration Product means a pharmaceutical product containing or comprising Compound in any dosage form alone, or in combination with, one or more other pharmaceutically active ingredients, and any and all Improvements thereto.

  • CREFC® Intellectual Property Royalty License Fee Rate With respect to each Mortgage Loan, a rate equal to 0.0005% per annum.

  • Sublicensee means a third party to whom LICENSEE grants a sublicense of certain rights granted to LICENSEE under this Agreement.

  • Licensed service area means the geographic area in which

  • Hemp product means the same as that term is defined in § 3.2-4112.

  • License Key means a unique key-code that enables Licensee to run Software subject to the obtained User Pack.