Common use of 1Term Clause in Contracts

1Term. The term of this Agreement will commence as of the Effective Date and, unless sooner terminated as provided in this Article 12, will continue in effect until the expiration of the last-to-expire Royalty Term with respect to a Licensed Product in the last country in the Territory (the “Term”). Upon expiration of the Royalty Term with respect to a Licensed Product in a country, the licenses granted to Licensee hereunder with respect to such Licensed Product in such country will become fully paid-up, royalty-free, perpetual, and irrevocable.

1Term. The term of this Agreement will commence as of begin on the Effective Date and, unless sooner terminated as provided in this Article 12, and will continue in effect until the expire upon expiration of the last-to-expire last remaining Royalty Term Term, unless earlier terminated in accordance with respect to a Licensed Product in the last country in the Territory termination provisions (the “Term”). Upon On a Licensed Product-by-Licensed Product and country-by-country basis, upon expiration of the applicable Royalty Term with respect Term, Licensee will have a fully paid-up perpetual license to a Licensed Product in a country, the licenses granted to Licensee hereunder with respect to Know-How for such Licensed Product in such country will become fully paid-up, royalty-free, perpetual, and irrevocable(“country” shall also be deemed to refer to territories).

1Term. The term of this This Agreement will commence as of the Effective Date and, unless sooner terminated as provided in earlier, this Article 12, Agreement will continue in full force and effect until until, with respect to any Licensed Product(s), on a country-by-country basis, the expiration of the last-to-last to expire Royalty Term with respect to a such Licensed Product in the last such country in the Territory (the “Term”). Upon expiration of the Royalty Term with respect to a for any Licensed Product in a any country, the licenses granted to Licensee hereunder with respect to such the applicable Licensed Product in such country will become fully paid-up, royalty-free, perpetual, up and irrevocable.

1Term. The term of this This Agreement will shall commence as of on the Effective Date and, unless sooner earlier terminated as provided in this Article 12accordance herewith, will shall continue in force and effect on a Licensed Product-by-Licensed Product and country-by-country basis, until the expiration of the last-to-expire Royalty Term with respect to a for such Licensed Product in the last such country in the Territory (such period, the “Term”). Upon the expiration of the Royalty Term with respect to for a particular Licensed ​ Product in a particular country, the licenses granted license grant to Licensee hereunder Ionis in Section 2.1 shall become non-exclusive, fully-paid, royalty-free, and irrevocable with respect to such Licensed Product in such country will become fully paid-up, royalty-free, perpetual, and irrevocablecountry.