Common use of Duration of Payments Clause in Contracts

Duration of Payments. Royalties will be payable by Licensee until the later of (i) ten (10) years from the date of First Commercial Sale of the first Product, or (ii) the expiration of the last-to-expire patent within the IP Rights (“Royalty Term”). Thereafter, subject to Section 6.5.4 below, the license under this Agreement for the Target shall become fully paid up.