definiens: means, on a Licensed Product - by - Licensed Product and country - by - country basis, and subject t o Section 6.5.3 and Section 6.5.6, the period comme ncing upon the First Commercial Sale of a Licensed Product in such country and ending upon the latest to occur of : ( a ) the date of expiration of the last Valid Patent Claim o f the MTEM Background Patent Rights, the Patent Rig hts in the Joint Background IP, the MTEM Program Patent Rights, the Takeda Program Patent Rights ( including any T akeda Targeting Moiety IP ), and any Product Program Paten t Rights claiming inventions that were conceived or reduced to practice during the Co - Development Period which Valid Patent Claim covers the Licensed Product or i ts method of use for an approved indication, in each case tha t would be infringed by the sale of the applicable Licensed Product in the applicable country, if not for Taked a ’s ownership thereof or the licenses granted hereu nder ; ( b ) the date of expiration of any regulatory exclusivity fo r such Licensed Product in such country ; and ( c ) th e date of [ * * * ]