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.

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Royalty Term has the meaning set forth in Section 8.4(b).

Royalty Term means, with respect to a Product and for a given country, the period of time commencing on the date of First Commercial Sale of such Product in such country and ending on the later of the date that is (a) ten (10) years after the date of the First Commercial Sale of such Product in such country, or (b) the expiration of the last to expire Valid Claim within the Roche Patent Rights or Joint Patent Rights in such country Covering the use, manufacture, import, offering for sale, or sale of the Product.

Examples of Royalty Term in a sentence

Roche shall pay Nurix each non-refundable, non-creditable (except pursuant to the Financial Exhibit) milestone payment set forth in the following table in accordance with Section 10.1 upon the first time Products achieve the corresponding Annual Net Sales thresholds in the Roche Territory by or on behalf of Roche, its Affiliate, or its Sublicensee, during the applicable Royalty Term.
On a Product-by-Product and country-by-country basis, if during any portion of the Royalty Term for such Product in the country of sale of such Product, no Valid Claim Covers such Product in such country, then the royalty rate that would otherwise be owed and payable pursuant to Section 9.6, in each case, with respect to Net Sales of such Product in such country will be reduced by [*].
Subject to Section 2.9(k) and Acquiror’s right to exercise its reasonable business judgement while acting in good faith (including as contemplated in Section 2.9(k) below), following the Closing until the later of (x) the end of the Royalty Term or (y) [***] after Closing, Acquiror agrees not to take any action with the specific intent and for the primary purpose of wrongfully depriving the Company Securityholders of the Royalties or Milestone Payments otherwise due under this Agreement.

More Definitions of Royalty Term

Royalty Term has the meaning set forth in Section 6.4.2.

Royalty Term shall have the meaning set forth in Section 4.9.

Royalty Term has the meaning set forth in Section 3.4 (Royalties).

Royalty Term has the meaning set forth in Section 4.4(b).

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 has the meaning set forth in Section 8.1.2 (Royalty Term).

Royalty Term means, with respect to each Royalty-Bearing Product in each country in the Royalty-Bearing Territory, the period beginning on the date of First Commercial Sale of such Royalty-Bearing Product in such country and continuing until the later of (a) the last date on which the manufacture, use or sale of such Royalty-Bearing Product in such country would infringe a Valid Claim included in the Licensed Patent Rights but for the license granted hereunder, (b) ten (10) years from the date of the First Commercial Sale of such Royalty-Bearing Product in such country.