Unless terminated earlier in accordance with this ARTICLE 12 (Term and Termination), this Agreement will become effective as of the Effective Date and will continue in full force until the last to expire Royalty Term in the Licensed Territory (the “ Term ”). Upon the expiration (but not termination) of this Agreement, the licenses granted pursuant to Section 3.1 ( AVEO License Grant; Right of Reference ) will become perpetual, irrevocable, and fully paid-up.