Royalty Reporting Period

Royalty Reporting Period. Shall mean the partial calendar half year commencing on the date on which the first Licensed [***] Product is sold or used and every complete or partial calendar half year thereafter during which either (i) this Agreement remains in effect or (ii) Company has the right to complete and sell work-in-progress and inventory of Licensed Product pursuant to Section 8.5.

Royalty Reporting 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 fourth calendar month thereafter and (ii) each subsequent period of three calendar months. 3