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]3] 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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