Royalty Payment Term definition
Royalty Payment Term means, on a Product-by-Product and a country-by-country basis, the term beginning on the First Commercial Sale of the applicable Product in such country and ending on the date of the last to expire Valid Claim that exists in such country that would be infringed by the making, using, offering for sale or selling of such Product in such country absent the license grant in this Agreement.
Royalty Payment Term means, for any Product on a country-by-country basis, the term beginning on the Effective Date and ending on the later of (i) the last to expire Valid Claim of a Royalty Term Patent infringed by such Product in such country, (ii) the expiration of the data exclusivity granted by the Regulatory Authority in such country in respect of such Product, and (iii) the tenth (10th) anniversary of the First Commercial Sale of such Product in such country.
Royalty Payment Term means on a Product by Product basis, the term beginning on the First Commercial Sale of any Product in any country and ending on the date of the last to expire Valid Claim that exists in such country that would be infringed by Research, Development, Manufacturing or Commercialization of such Product in such country absent the license grant to the Company in this Agreement.
Examples of Royalty Payment Term in a sentence
The term of this Agreement shall begin on the Effective Date and, unless terminated earlier as provided herein, shall continue until the last to expire Royalty Payment Term (the “Term”).
Without the limiting the definition of the Royalty Payment Term, it shall be deemed to expire upon the expiration of all Valid Claims of Patents within the Licensed Intellectual Property that exist in such country and Cover the composition of matter or a method of use of such Product if a Third Party is selling in such country a substantially similar product.
During the Royalty Payment Term, NPS and the WEG Group shall each appoint a program manager who shall be responsible for coordination of the Party’s activities under this Agreement and who will act as a primary contact for communication between the Parties relative to this Agreement (each a “Program Manager”).
After the Royalty Payment Term has ended, WEC shall have full rights to sell, convey, assign, deliver, delegate, license, sub-license or otherwise grant or provide any third party any right, title or interest in or to the Utility Wind Assets including, without limitation, the Utility Wind IP (collectively, a “WEC Transfer of Assets”).
Following expiry of the Royalty Payment Term in respect of any Product or country, Gritstone shall have the paid-up licenses described in Section 4.4.
More Definitions of Royalty Payment Term
Royalty Payment Term means the period beginning at the Trigger Point and expiring on the later of: (i) the expiration of the 2.X Royalty Payment Term; and (ii) the expiration of the Rest of World Royalty Payment Term.
Royalty Payment Term means, with respect to each Product, the time period commencing on April 1, 2014 and ending, on a country-by-country and product-by-product basis, on the date that the “Term” (as defined in the Counterparty Agreement) expires or terminates with respect to such Product; provided that in the event that the Counterparty Agreement is terminated and the Transferor remains entitled to Royalty Payments under Section 14.6 of the Counterparty Agreement, the Royalty Payment Term with respect to the relevant Product shall be extended until the expiration or termination of such rights under Section 14.6 of the Counterparty Agreement.
Royalty Payment Term means the period beginning on the Effective Date and ending, on a Licensed Product-by-Licensed Product basis, (a) with respect to each Licensed Product that incorporates any Licensed Software identified on a License Schedule as of the Effective Date (including any updates and bug fixes thereto), twenty (20) years after the Effective Date and (b) with respect to each Licensed Product that incorporates any Licensed Software added to this Master License Agreement after the Effective Date (for the avoidance of doubt, excluding any updates or bug fixes to any Licensed Software referenced in subsection (a)), twenty (20) years after such addition of such Licensed Software
Royalty Payment Term means the period beginning on the Effective Date and ending, on a Licensed Product-by-Licensed Product basis, (a) with respect to each Licensed Product that incorporates any Licensed Software identified on a License Schedule as of the Effective Date (including any updates and bug fixes thereto), twenty (20) years after the Effective Date and (b) with respect to each Licensed Product that incorporates any Licensed Software added to this Master License Agreement after the Effective Date (for the avoidance of doubt, excluding any updates or bug fixes to any Licensed Software referenced in subsection (a)), twenty (20) years after such addition of such Licensed Software Furthermore, on a Licensed Product-by-Licensed Product basis, if Schrödinger, in its sole discretion, chooses to incorporate into such Licensed Product any Columbia Improvement that is not an update or bug fix to any Licensed Software referenced in subsection (a) or (b) above), the Royalty Payment Term for such Licensed Product shall be extended for an additional ten (10) years per Columbia Improvement incorporated by Schrödinger into such Licensed Product, each extension to apply consecutively upon the expiration of the preceding initial or extended Royalty Payment Term for such Licensed Product. For the sake of clarity, an extension of the Royalty Payment Term for the Licensed Product Royalties owed for a given Licensed Product will not automatically trigger an extension of the Royalty Payment Term for any Services Project Income if Schrodinger chooses not to use such Licensed Product to perform services under its Services Agreements. On a Licensed Product-by-Licensed Product basis, if Schrödinger earns Gross Revenues or Services Project Income with respect to such Licensed Product during the Royalty Payment Term for such Licensed Product, then Schrödinger will be obligated to pay to Columbia the royalties owed on such Gross Revenues or Services Project Income, even if Schrödinger does not invoice or receive such Gross Revenues or Services Project Income until after the expiration of such Royalty Payment Term.
Royalty Payment Term shall have the meaning assigned to such term in the Royalty Agreement.
Royalty Payment Term has the meaning set forth in Section 7.4 (b).
Royalty Payment Term means the period commencing on the date hereof and continuing until the earlier of (a) five (5) years following the date of the first sale of any Royalty Product by Purchaser or a Purchaser Affiliate or Purchaser’s licensee to a Third Party for large bore arterial closure applications, and (b) such time as the total Royalty Payments made by Purchaser hereunder equal the Royalty Cap. Notwithstanding the foregoing, if no sales of Royalty Products for large bore arterial closure applications have occurred, then the Royalty Payment Term shall be the earlier of (x) the period commencing on the Effective Date and ending upon the date that is the tenth (10th) anniversary of the Effective Date and (y) such time as the total Royalty Payments made by Purchaser hereunder equal the Royalty Cap.