After expiration of the Royalty Term (but not after early termination of this Agreement by # either Party pursuant to [Section 13.2.1] or # AzurRx pursuant to [Section 13.2.2]) with respect to any country within the Territory, with respect to any Product, AzurRx shall have a non-exclusive, fully-paid, perpetual, royalty-free right and irrevocable license, with the right to grant sublicenses through multiple tiers, under the FWB Background IP and Program IP to Exploit such Product in the Field in such country.

Term; Expiration. This Agreement shall become effective as of the Effective Date and shall continue in full force and effect until expiration as described in this [Section 11.1] (Term; Expiration), unless earlier terminated pursuant to [Section 11.2] (Termination for Cause), ​, [Section 11.4] (Termination for Insolvency), or [Section 11.5] (Termination for Patent Challenge) (the "Term"), and shall expire as follows:

Effect of Expiration of Royalty Term. After expiration of the applicable Royalty Term with respect to a Licensed Product in a country in the Territory (but not after earlier termination of this Agreement), the Applicable Commercialization Party shall have a non-exclusive, fully-paid, royalty-free right and license, with the right to grant sublicenses, under the Know-How and Patents licensed to such Party hereunder, in each case as used at the time of such expiration, to continue to Develop and Commercialize such Licensed Product in the Field in such country, for so long as it continues to do so.

Royalty Term. On a country-by-country and Product-by-Product basis, Coya’s obligation to pay Royalties for a Product in a country in the Territory shall commence upon the First Commercial Sale of such Product in such country and shall expire upon the later of: # the expiration of the last-to-expire Valid Claim in an ARScience Bio Patent that Covers such Product in such country; # the expiration of all regulatory exclusivity including data exclusivity periods, if any, for such Product in such country; and # the tenth anniversary of the First Commercial Sale of such Product in such country (the applicable “Royalty Term”). Upon expiration of the Royalty Term for a given Product in a given country # no further Royalties will be payable in respect of sales of such Product in such country, and # the licenses granted to Coya under Section 2.2.1 (Exploitation License) with respect to the Exploitation of such Product in such country will automatically become fully paid-up, perpetual, irrevocable, and royalty free. For clarity, only a single Royalty will be payable as a result of one or more Valid Claims in an ARScience Bio Patent that Covers such Product in such country during the applicable Royalty Term.

Term; Expiration. The term of this Agreement (the “Term”) shall become effective as of the Effective Date and shall continue in full force and effect, unless earlier terminated pursuant to the rest of this ARTICLE 15, until:

Expiration of Royalty Term. On a region-by-region basis, upon the expiration of the Royalty Term for a given Product in a given region, the licenses granted by TPTX to Zai under Section 2.1 of this Agreement in such region with respect to such Product in the Field shall become fully paid-up, perpetual, irrevocable and sublicenseable in multiple tiers.

Rights Following Expiration of Royalty Term. Upon expiration of the Royalty Term with respect to a Therapeutic Product or Licensed Product, as applicable, in a country, the applicable licenses in [Sections 6.1.1] (for a Tier 1 Product), 6.2.1 (for an Optioned Tier 2 Product), 6.3.1(b) (for a Collaboration Product) and 6.6.4(b) (for a Licensed Product) shall be fully paid-up, perpetual, and irrevocable with respect to such Therapeutic Product or Licensed Product in that country.

Consequences of Expiration of the Royalty Term. Licensee shall not owe royalty on any Product sold in a country after expiration of the Royalty Term for such Product in such country. Upon expiration of the Royalty Term with respect to the Product Commercialized in a country, Licensee shall have a fully paid up, perpetual license under the rights granted in this Agreement with respect to the Product in such country.

Royalty Term. Royalties payable under Section II(a) (Royalty Payments) shall be paid by INNOCOLL on a ​ from the ​ in the ​ until the ​: # ​of the last ​ of a ​ the ​ of such ​ in the ​, # the ​ for such ​ in the ​, and # ​ from the ​ of the ​.

Expiration of Royalty Term. On a Licensed Product-by-Licensed Product and country-by-country basis in the Net Sales Territory, upon expiration of the Royalty Term with respect to such Licensed Product in such country in the Net Sales Territory, GSK will have a non-exclusive, fully-paid, royalty-free right and license, with the right to grant sublicenses, under the ITEOS Technology, to continue to make, have made, use, sell, offer to sell and import such Licensed Product in the Field in such country in the Net Sales Territory.