Common use of Calculation of Net Sales Clause in Contracts

Calculation of Net Sales. All royalty payments shall be computed and paid in United States dollars. For the purposes of determining the amount of any sales milestone payments under Sections 5.4 and 5.5 or royalties due for the relevant Pfizer Quarter, the amount of Net Sales in any foreign currency shall be converted into United States dollars in a manner consistent with Pfizer’s normal practices used to prepare its audited financial reports; provided that such practices use a widely accepted source of published exchange rates.

Appears in 2 contracts

Sources: License Agreement (Quark Pharmaceuticals Inc), License Agreement (Quark Biotech Inc)