definiens: shall mean al l Intellectual Property that is invented by or on behalf of either Party ( or by the Parties jointly ) in the performance of ( i ) activities under a Produc t R&D Program, or ( ii ) in connection with the development, manufacture or commercialization of any [COMPANY] Product ( other than the Technology Collaboration ) d uring the IP Term but following the end of the Prod uct R&D Program for such [COMPANY] Product [ * * * ] 1.97 shall mean, on a Pr oduct R&D Program - by - Product R&D Program basis, the period commencing on the date that a Tar get is selected as a [COMPANY] Target by [COMPANY] in accordance with Section 4.2 and expiring on the dat e of IND Acceptance with respect to a [COMPANY] Pro duct Directed to such [COMPANY] Target and developed und er such Product R&D Program . [ * * * ] 1.98 [ * * * ] 1.99 or shall refer to a cale ndar quarter, except that the first ( 1st ) Quarter s hall commence on the Effective Date and extend to the en d of the then - current calendar quarter and the last calendar quarter shall extend from the first day of such cal endar quarter until the effective date of the termi nation or expiration of this Agreement