Royalty Term definition

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

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Royalty Term means, in the case of any Product, in any country, the period of time commencing on the First Commercial Sale and ending upon the later of (a) fifteen (15) years from the date of First Commercial Sale in such country; or (b) the expiration of the last-to-expire Patent resulting from the Research Program filed in the Field with claims covering that Product in the relevant country.

Royalty Term means, on a country-by-country basis, the period commencing on the First Commercial Sale of a Licensed Product in a country and ending on the latest of (a) ** thereafter, (b) expiration of the last-to-expire Valid Claim of a Licensed Patent that Covers the composition of matter of the Licensed Product in the country in which it is sold, or (c) the expiration of all Regulatory Exclusivity Rights with respect to such Licensed Product in the country in which it is sold.

Examples of Royalty Term in a sentence

Subject to the terms of this Section 4.2, during the applicable Royalty Term (which shall be measured on a country-by-country and Product-by-Product basis), Jade shall pay tiered royalties to Paragon (or to such other designee(s), as requested by Paragon) as set forth in the table below on annual Net Sales of all Products sold by ▇▇▇▇, its Affiliates or its Sublicensees in the Field in the Territory (together with any royalties payable under Section 4.2(b), the “Royalty Payments”).
For clarity, any Net Sales of any Jade Product made in a given country after the expiration of the Royalty Term for such Jade Product in such country will not be royalty-bearing.
The term of this Agreement shall commence on the Effective Date and shall expire on a country-by-country and Jade Product-by-Jade Product basis on the expiration of the Royalty Term for such Jade Product in such country, in each case, unless earlier terminated by a Party as set forth below in this Article VIII (the “Term”).
During the applicable Royalty Term (which shall be measured on a country-by-country and Jade Multispecific Product-by-Jade Multispecific Product basis), Jade shall pay royalties to Paragon (or to such other designee(s), as requested by Paragon) equal to [***] percent ([***]%) of Net Sales of all Jade Multispecific Products sold by Jade, its Affiliates or its Sublicensees in the Field in the Territory.
If, during any Calendar Quarter during the Royalty Term for a particular Jade Product in a particular country, no Valid Claim of a Licensed Antibody Patent Covers the Manufacture or Commercialization of such Jade Product in |US-DOCS\167593066.2|| such country, then the applicable royalty rate for the Royalty Payments set forth in this Section 4.2 for such Calendar Quarter shall be reduced by [***] percent ([***]%).

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 4.3(d).

Royalty Term has the meaning set forth in Section 7.3(b).

Royalty Term means, on a Licensed Product-by-Licensed Product and country-by-country basis, until the later to occur of: (a) the (10th) tenth anniversary of the date of First Commercial Sale of the Licensed Product in such country; or (b) the expiration of the last to expire Valid Patent Claim that would be infringed by the sale of the Licensed Product in such country, if not for the licenses granted hereunder.

Royalty Term means, with respect to a given Licensed Product and a given country, the period beginning on the date of First Commercial Sale of such Licensed Product in such country and ending on the later of: (a) […***…] the date of First Commercial Sale of such Licensed Product in such country; (b) the expiration […***…]; or (c) […***…].

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