definiens: shall mean, with respect to eac h Licensed Product in each country in the MN Territory, the period of time beginning with the da te of the First Commercial Sale of such Licensed Pr oduct by MN in such country and continuing until the later o f ( a ) the last date on which the manufacture, use o r sale of such Licensed Product in such country would infring e a Valid Patent Claim but for the license granted by this Agreement or ( b ) the last date of the Market Exclus ivity Period in such country . In the event that in any country ( x ) neither a Valid Patent Claim nor Market Exclusi vity Period existed during any period in which Lice nsed Product is sold in such country and ( y ) Licensed Pr oduct is not subject to Generic Competition in such country, then the Royalty Term in such country shall mean th e period commencing on the date of the First Commer cial Sale of Licensed Product by MN in such country and expiring on the earlier of ( i ) five ( 5 ) years from such date or ( ii ) the end of the second ( 2 nd ) consecutive Calendar Quarter in which Generic Com petition exists in such country