Royalty Payment Period

Royalty Payment Period. Shall mean the period commencing as of the First Commercial Sale and terminating upon the expiration of five (5) years. For these purposes, a "year" shall refer a calendar year beginning on the Effective Date and ending of 365 days (or 366 days in a leap year) thereafter.

Royalty Payment Period. Means (i) the period of time commencing on the date of the first commercial sale of a Licensed Product in any country and ending on the day immediately before the first day of the seventh calendar month thereafter and (ii) each subsequent period of six calendar months.