VALID CLAIMS. Subject to Section 5.9, for any country in which a Valid Claim covers the Licensed Product, Licensee or its sublicensees shall pay Caltech a royalty of *** percent (***%) of Net Revenues. Royalties due under this Section 5.2 shall be payable on a country-by-country and Licensed Product-by-Licensed Product basis until the expiration of the last-to-expire patent under the Exclusively Licensed Patent Rights covering such Licensed Product in such country.
Appears in 2 contracts
Sources: License Agreement (Immune Design Corp.), License Agreement (Immune Design Corp.)