Term and Expiration. This Agreement shall be effective as of the Effective Date and unless terminated earlier by mutual written agreement of the Parties or pursuant to Sections 12.02 or 12.03 below, the Term of this Agreement shall continue in effect on a country-by-country and product-by-product basis until the expiration of Licensees obligation to pay royalties under Article VII herein (the Term). Upon expiration of this Agreement in its entirety, Licensees license pursuant to Section 2.01 shall become a fully paid-up, perpetual license.
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