Royalty Term definition
Royalty Term means, with respect to each country in which Licensed Product is sold, on a product-by-product basis, that time period beginning on the First Commercial Sale of such Licensed Product covered by a Valid Claim in such country and expiring, on a country-by-country basis, the expiration in such country of the last-to-expire Licensed Patent with a Valid Claim.
Royalty Term has the meaning set forth in Section 8.4(b).
Royalty Term means the period commencing with the First Commercial Sale of the Licensed Product and continue until the expiration of the later of: (i) the last-to-expire Valid Patent Claim that would be infringed by the manufacture, use or sale of Licensed Product in the Territory; or (ii) the period of twenty (20) years following the First Commercial Sale of such Licensed Product in Territory.
Examples of Royalty Term in a sentence
If, on a Licensed Product-by-Licensed Product and country-by-country basis, during the Royalty Term no Valid Patent Claim exists in the relevant country Covering the relevant Licensed Product at the time of manufacture, use or sale of such Licensed Product in such country, then the applicable royalty rate for the sale of such Licensed Product in such country shall be reduced by [***].
More Definitions of Royalty Term
Royalty Term has the meaning set forth in Section 6.5(c).
Royalty Term shall have the meaning set forth in Section 4.9.
Royalty Term has the meaning set forth in Section 4.3(d).
Royalty Term means, on a Licensed Product-by-Licensed Product and country-by-country basis, the period beginning on the date of first commercial sale of a Licensed Product in a country, and ending upon the later of: (a) the ten (10) year anniversary of such first commercial sale and (b) expiration of the last-to-expire Valid Claim of a Biofuel Patent Right Covering such Licensed Product in such country.
Royalty Term has the meaning set forth in Section 3.4 (Royalties).
Royalty Term means, with respect to a Product in a country, the period beginning on the First Commercial Sale of such Product in such country, and expiring on the later of:
Royalty Term shall have the meaning provided in Section 3.4(b).