Common use of Term of Payment Clause in Contracts

Term of Payment. The obligation to make Product Payments hereunder shall begin on the date of the first commercial sale of the Acquired Product in any country for which the Product Option has been exercised. Such obligation shall continue until ten (10) years after the date of the first commercial sale of the Acquired Product in any Major Market Country, and shall terminate as to all countries at the end of such ten (10) year period.