Primary Royalty Term definition

Primary Royalty Term means, on a Primary Royalty Product-by-Primary Royalty Product and country-by-country basis, the period from the Effective Date until such time as there no Valid Claims of any Ag Partner Patents Covering the manufacture, use, sale, or import of a particular Primary Royalty Product in a particular country.
View Source
Primary Royalty Term means, on a Product-by-Product and Jurisdiction-by-Jurisdiction basis, the period from the Effective Date until the later of (A) the expiration of the last-to-expire Valid Claim in the Licensed Patents that Cover the composition of matter or method of use of a particular Product in a particular Jurisdiction and (B) the tenth (10th) anniversary of the First Commercial Sale of such Product in such Jurisdiction.
View Source
Primary Royalty Term has the meaning set forth in Exhibit E (Royalties).
View Source

Examples of Primary Royalty Term in a sentence

  • The compensation due to the Opt-Out Party under this Section 11.2.7 (Royalties), whether royalties or a percentage of Sublicensing Revenue, shall be [*] with respect to Net Sales in a country or Sublicensing Revenue with respect to a country, in each case following the expiration of the Primary Royalty Term in that country.

  • Upon the expiration of the Primary Royalty Term for a particular Product in a particular Jurisdiction, (i) the royalty rate applicable to all Net Sales of such Product in such Jurisdiction shall be reduced to [ ] percent ([ ]%), and, notwithstanding anything to the contrary, such royalty shall not be subject to further reduction pursuant to Section 5.5(c), 5.6, or 10.4 and (ii) Sections 4.1, 4.2, 4.3, 4.4, 4.11, and 4.12 shall no longer apply with respect to such Product in such Jurisdiction.

  • If the Primary Royalty Term for a particular Product in a Jurisdiction extends beyond the expiration of the last to expire Valid Claim of a Licensed Patent in such Jurisdiction that Covers the composition of matter or use of such Product, then the royalty rate set forth in Section 5.5(a) above shall, for all sales of such Product following such expiration in such Jurisdiction, be reduced by [ ] percent ([ ]%) for such Product in such Jurisdiction.

  • If a Generic Product is sold in a Jurisdiction by a Third Party during any Calendar Quarter in the Primary Royalty Term of a Product, the royalty rate set forth in Section 5.5(a) above shall be reduced by [ ] percent ([ ]%) for such Product in such Jurisdiction for such Calendar Quarter and each Calendar Quarter thereafter during the remainder of the Primary Royalty Term.


More Definitions of Primary Royalty Term

Primary Royalty Term means, on a country-by-country basis, that period from the First Commercial Sale of the Product following Regulatory Approval in such country (or, if later, the Opt-Out Date) until expiration of the last to expire Patent within the Opt-Out Party’s Licensed IP that has one or more Valid Claims that would, but for the licenses granted under this Agreement, be infringed by the manufacture, use, sale, offer to sell or import of such Product in the country in which such manufacture, use, sale, offer to sell or import occurs by the Continuing Party, its Affiliates or Sublicensees.
View Source