Reduced Royalty Term definition

Reduced Royalty Term has the meaning set forth in Section 19.2.2.
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Reduced Royalty Term means, in any country in the Territory, the period of time beginning with the date following the expiration of the Base Royalty Term in such country and continuing until the fifteenth anniversary of the Effective Date.
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Reduced Royalty Term has the meaning set forth in Section 9.3.3 (Reduced Royalty Term).
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Examples of Reduced Royalty Term in a sentence

  • Further for clarity, after the expiration of the Reduced Royalty Term in each country in the Territory, no further royalties shall be due with respect to Net Sales in such country and the licenses granted to ARIAD SWISSCO hereunder shall become fully paid-up and royalty-free with respect to such country for the remainder of the Term.


More Definitions of Reduced Royalty Term

Reduced Royalty Term has the meaning set forth in Section 5.4.2(b).
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Reduced Royalty Term means, on a country-by-country and Licensed Product-by-Licensed Product basis, the period commencing upon January 1 following the expiration of the Full Royalty Term in such country for such Licensed Product.
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Reduced Royalty Term. Reduced Royalty Term means the period beginning on the expiration of the Full Royalty Term for a Product in a country and expiring upon Novartis’ actual last commercial sale of such Product in such country.
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Related to Reduced Royalty Term

  • Royalty Term means, with respect to each Licensed Product, the period of time beginning on the first sale of a Licensed Product in a country following receipt of regulatory approval for the marketing and sale of such Licensed Product in such country and continuing on a country-by-country and product-by-product basis until the later of (1) the expiration of the Patent Term, or (ii) ten (10) years from the date of such sale of such Licensed Product in such country (other than any sale or transfer between Licensee and its Affiliates or Sublicensees).

  • Net Sales means [***].

  • Royalty Payment has the meaning set forth in Section 6.1.

  • Royalties means all royalties, fees, expense reimbursement and other amounts payable by a Loan Party under a License.

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Net Sales Price means the gross billing price of any PRODUCT received by Licensee or its SUBLICENSEE for the sale or distribution of any PRODUCT, less the following amounts actually paid by Licensee or SUBLICENSEE:

  • Calendar Year means each successive period of twelve (12) months commencing on January 1 and ending on December 31.