Term. This Agreement will become effective on the Effective Date and, unless earlier terminated pursuant to this Article 16, will expire # on a Product-by-Product and country-by-country basis, # in the Shared Territory, on the date on which neither Party is Researching, Developing or Commercializing such Product (or any Research Candidate or Development Candidate therefor), and # in the Licensed Territory, at the end of the applicable Royalty Term for such Product, and # on a Reversion Product-by-Reversion Product and country-by-country basis, until such time as no further payments are owed by the Continuing Party to the Opt-Out Party for such Reversion Product in such country (the last such period, the “Term”).

Term. The term of this Agreement (the “Term”) will commence on the Effective Date and, unless earlier terminated in accordance with this Article 8, will continue until all Royalty Terms for all Licensed Products have expired in all countries of the Territory.

Term. This Agreement shall commence on the Effective Date and, unless earlier terminated in accordance herewith, shall continue in force and effect until the expiration of the last Royalty Term for the last Licensed Product (such period, the “Term”).