definiens: means ( a ) with respect to a Licensed Product, the period beginning on the date of the First Commercial Sale of such Li censed Product and ending on the latest to occur of ( i ) the expiration of the last - to - expire Allergan Patent, N exMed Patent, or Joint Patent that includes a Valid Claim that covers such Licensed Product, ( ii ) the expiration o f the Regulatory Exclusivity Period for such Licens ed Product and ( iii ) the fifteenth ( 15th ) anniversary of the F irst Commercial Sale of such Licensed Product and ( b ) with respect to an Optioned Product, the period beginnin g on the later of the date of the First Commercial Sale of such Optioned Product and the Exercise Effective Date th erefor, and ending on the latest to occur of ( i ) th e expiration of the last - to - expire Allergan Patent, [COMPANY] Paten t, or Joint Patent that includes a Valid Claim that covers such Optioned Product, ( ii ) the expiration of the Regula tory Exclusivity Period for such Optioned Product a nd ( iii ) the fifteenth ( 15th ) anniversary of the First Commercia l Sale of such Optioned Product