definiens: means, with respect to a Royalty - Bearing Product in a country, that period of time beginning with the first commercial sale of su ch Royalty - Bearing Product in such country and endi ng 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 generi c equivalent 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 pursuant 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 Royalty -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 Licensor pursuan t 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 in such country