Reverse Royalty Term definition
Reverse Royalty Term means, and determined on a Licensed Product-by-Licensed Product and country-by-country basis, the period commencing from the First Commercial Sale of a given Licensed Product in such country and ending on the expiry of the last-to-expire Licensor Patent containing a Valid Claim Covering such Licensed Product in such country
Reverse Royalty Term means, with respect to each Licensed Product for which a royalty is due under Section 12.8, and each country or other jurisdiction in a Terminated Program, the period [***]. Solely for purposes of this Section, each reference in the definitions of “Regulatory Exclusivity” to (i) AbbVie shall be deemed to be a reference to Licensor, and (ii) a Sublicensee shall be deemed to be a reference to a licensee or sublicensee of Licensor or its Affiliates.
Reverse Royalty Term means, with respect to each Licensed Product and each country in the Terminated Territory, the period beginning on the date of the first sale of such Licensed Product in such country after termination of this Agreement with respect to such country and ending on the later to occur of (i) the earlier of (A) the later of (1) the expiration of the last-to-expire Licensor Patent, Licensee Patent or Joint Patent that includes a Valid Claim that covers such Licensed Product in such country and (2) the expiration of Regulatory Exclusivity in such country for such Licensed Product and (B) the last day of the first Calendar Quarter in which unit sales of all Generic Products in such country exceed fifty percent (50%) of the sum of unit sales of such Licensed Product and all Generic Products in such country during such Calendar Quarter; and (ii) the tenth (10th) anniversary of the first sale of such Licensed Product in such country after termination of this Agreement. Solely for purposes of the Section 1.157, each reference in the definitions of “Regulatory Exclusivity” and “Generic Product” to (A) Licensee shall be deemed to be a reference to Licensor, and (B) a Sublicensee shall be deemed to be a reference to a licensee or sublicensee of Licensor or its Affiliates.
Examples of Reverse Royalty Term in a sentence
Licensor shall have no obligation to pay any royalty with respect to Net Sales of any Grantback Product in any country or other jurisdiction after the Reverse Royalty Term for such Grantback Product in such country or other jurisdiction has expired.
The terms of this Transition Agreement shall commence upon the Transition Effective Date and, unless terminated earlier in accordance with this Section 7, shall continue until the expiration of the Reverse Royalty Term.
More Definitions of Reverse Royalty Term
Reverse Royalty Term means, with respect to a Grantback Product and each country or other jurisdiction in the Terminated Territory, the period beginning on the date of the First Commercial Sale of such Grantback Product in such country or other jurisdiction after termination of the Collaboration Agreement with respect to such country or other jurisdiction and ending on the later to occur of (a) the expiration of the last-to-expire Payload Patent or AbbVie Program Patent that includes a Valid Claim that covers the manufacture, use or sale of such Grantback Product in such country or other jurisdiction, (b) the expiration of Regulatory Exclusivity in such country or other jurisdiction for such Grantback Product or (c) the [***] anniversary of the First Commercial Sale of such Grantback Product in such country or other jurisdiction. Solely for purposes of this Section 1.12, reference in the definitions of “Regulatory Exclusivity” under the Collaboration Agreement to (i) AbbVie shall be deemed to be a reference to Licensor, and (ii) a Sublicensee shall be deemed to be a reference to a licensee or sublicensee of Licensor or its Affiliates.
Reverse Royalty Term means, with respect to each Returned Licensed Product and each country in the Terminated Territory, the period (a) beginning on (i) if the First Commercial Sale of such Returned Licensed Product in such country has occurred prior to the effective date of termination, the first day after the effective date of termination and (ii) if the First Commercial Sale of such Returned Licensed Product in such country has not occurred as the effective date of termination, the First Commercial Sale of such Licensed Product in such country, and (b) ending on the latest to occur of: (i) [*] such Licensed Product in such country; (ii) [*] with respect to such Returned Licensed Product in such country; and (iii) [*] in such country for such Licensed Product.
Reverse Royalty Term means, and determined on a Licensed Product-by Licensed Product and country-by-country basis, the period commencing from the First Commercial Sale of a given Licensed Product in such country and ending on the expiry of the last to-expire Licensor Patent containing a Valid Claim Covering such Licensed Product in such country.
Reverse Royalty Term means, with respect to each Licensed Product upon exercise of the Grantback Option, and each country or other jurisdiction in the Terminated Territory, the period beginning on the date of the First Commercial Sale of such Licensed Product in such country or other jurisdiction after termination of this Agreement with respect to such country or other jurisdiction and ending on the latest to occur of (a) the expiration of the last-to-expire Joint Patent or AbbVie Grantback Patent that includes a Valid Claim that covers the composition of matter of such Licensed Product in such country or other jurisdiction, (b) the expiration of Regulatory Exclusivity in such country or other jurisdiction for such Licensed Product or (c) the [*] anniversary of the First Commercial Sale of such Licensed Product in such country or other jurisdiction. Solely for purposes of this Section 1.117, reference in the definitions of “Regulatory Exclusivity” to (i) AbbVie shall be deemed to be a reference to Licensor, and (ii) a Sublicensee shall be deemed to be a reference to a licensee or Sublicensee of Licensor or its Affiliates.
Reverse Royalty Term means, with respect to each Licensed Product and each country or other jurisdiction in the Terminated Territory, the period beginning [***]. Solely for purposes of this Section 1.221, reference in the definitions of “Regulatory Exclusivity” to (i) AbbVie shall be deemed to be a reference to Licensor, and (ii) a Sublicensee shall be deemed to be a reference to a licensee or sublicensee of Licensor or its Affiliates.
Reverse Royalty Term means for each Reversion Product, on a product-by-product and country-by-country basis, the period commencing upon First Commercial Sale of a Reversion Product in a country until the latest of (a) twelve (12) years after the First Commercial Sale of such Reversion Product in such country, (b) the expiration of the last to expire Valid Claim of a Patent within the Reversion IP (excluding any Derived Patent) that Covers such Reversion Product in such country, and (c) expiration of any Regulatory Exclusivity for such Reversion Product in such country (with the terms “First Commercial Sale” and “Regulatory Exclusivity” and any defined terms referenced directly or indirectly in such definitions to be adjusted mutatis mutandis to apply to Sanofi and the Reversion Product).