definiens: means, with respe ct to a Royalty - Bearing Product in a country, that period of time beginning with the first commercial sale of such Royalty - Bearing Product in such country and e nding on the later to expire of ( a ) the time during which th e applicable Regulatory Authority in such country i s not permitted to grant Regulatory Approval for a generic equivale nt of such Royalty - Bearing Product and ( b ): • with respect to a Royalty - Bearing Product being Com mercialized by Regulus, the last Valid Claim of the Patent Rights licensed to Regulus purs uant to this Agreement or the Regulus Patent Rights Covering ( i ) the Manufacture of such Royalty -Bearing Product in such country or ( ii ) the use, sale or other Commercialization of such Royalt y - Bearing Product in such country ; or • with respect to a Royalty - Bearing Product being Com mercialized by a Licensor, the last Valid Claim of the Patent Rights licensed to such Licenso r pursuant to this Agreement Covering ( i ) the Manufacture of such Royalty - Bearing Product in such country or ( ii ) the use, sale or other Commercialization of such Royalty - Bearing Product i n such country