Reduction for Expiration of Valid Claims. If, during any portion of the Royalty Term, there is no Valid Claim of any one or more ​-Related Patents covering the applicable Royalty-Bearing Product in the country of sale, then the royalties due pursuant to [Section 2A.2(a)] during such portion of the Royalty Term for sales of such Royalty-Bearing Product in such country shall be reduced by ​.

Expiration of Valid Claims and Reduction for Generic Products. Subject to [Section 4.3.2(c)], if, during the Royalty Term for a Licensed Product in a country in the Territory, # the Exploitation of such Licensed Product is no longer Covered by any Valid Claim (or, for clarity such Licensed Product is never Covered by a Valid Claim) in such country, and # any Third Party launches a Generic Product in that country; then the royalties payable pursuant to [Section 4.3.1] shall be reduced in accordance with the following process:

Valid Claim Expiration. On a Product-by-Product and country-by- country basis, from and after the date on which a Product is sold in a particular country and is not Covered by a Valid Claim of an ARScience Bio Patent Covering of such Product in such country, the Royalty Rates for such Product with respect to such country shall be reduced by ​ for the remainder of the Royalty Term for such Product in such country, subject to Section 5.5.4 (Mechanics of Adjustment to Royalties).

Existence and Expiry of Valid Claims. If, on a country-by-country and Licensed Product-by-Licensed Product basis, there is no Valid Claim that covers the Licensed Product, and there is no other Patent that is Controlled by EyePoint which covers such Licensed Product, either at the time of First Commercial Sale or anytime thereafter during the Royalty Term, then EyePoint shall have no obligation to pay royalties on Net Sales of such Licensed Product in such country at the royalty rates set forth in [Section 4.3(a)], but rather, EyePoint shall pay to Equinox a Know-How royalty on Net Sales of such Licensed Product in such country at a royalty rate equal to ​ of the applicable royalty rate as set forth in [Section 4.3(a)] during the Royalty Term.

Valid Claim Expiration. Beginning with the first Calendar Quarter that a Licensed Product is not Covered by a Valid Claim of a [[GlycoMimetics:Organization]] Licensed Patent or Joint Patent in a Region where such Licensed Product is sold, the applicable royalty rate set forth in Section 8.4(a) with respect to Net Sales of such Licensed Product in such Region shall be reduced by ​.

Expiration of Valid Claims. Subject to [Section 5.5.3(e)] (Cumulative Reductions Floor), if during the Royalty Term for a given Licensed Product in a country there is no Valid Claim of any Patent Right that Covers such Licensed Product or the Exploitation of such Licensed Product (or the Licensed Compound contained therein) in such country, then, from the first full Calendar Quarter in which this [Section 5.5.3(b)] (Expiration of Valid Claims) applies, and thereafter during the remainder of the Royalty Term for such Licensed Product in such country, the aggregate Net Sales of such Licensed Product in such country during each Calendar Quarter will be reduced by ​. For clarity, in the event that [Section 5.5.3(c)] (Loss of Regulatory Exclusivity) and this [Section 5.5.3(b)] (Expiration of Valid Claims) both apply for a particular Licensed Product and country in a Calendar Quarter, the reduction in aggregate Net Sales of such Licensed Product in such country in such Calendar Quarter will be ​.

Expiration of Valid Claims. Subject to [Section 7.5(e)(iv)], on a Product-by-Product and country-by-country basis, during ​ following ​, the royalty rate set forth in this [Section 7.5] with respect to such country shall be reduced by ​.

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Valid Claim Expiration. If, in any Calendar Quarter during the Royalty Term for a Licensed Product, there are no Valid Claims remaining within the Eidos Patents that Cover the composition of matter or method of use of such Licensed Product in the Territory, then the royalty rate under [Section 7.4(a)] shall be reduced by ​ in such Calendar Quarter and all subsequent Calendar Quarters during the Royalty Term.

Expiration of Valid Claims. On a Licensed Product-by-Licensed Product and Region by Region basis, if at any time during the Royalty Term in a given Region in the Territory, there is no Valid Claim of a Licensed Patent Right Covering the composition of matter of such Licensed Product that would be infringed by the sale of such Licensed Product in such Region, then the applicable royalty rate in effect with respect to such Licensed Product in such Region as specified in Section 6.2(a) (Royalty Rate) will be reduced by ​ for the remainder of the Royalty Term for such Licensed Product in such Region.