Currency for Payment. All payments made to INX pursuant to this Agreement, shall be made in United States Dollars. Royalty payments shall first be calculated in the currency of the country in which sales took place and then directly converted to U.S. Dollars using the average of the exchange rates applicable on the date of payment used by WLV for financial accounting purposes in accordance with generally accepted accounting principles.
Appears in 2 contracts
Sources: License and Development Collaboration Agreement (Inhibitex Inc), License and Development Collaboration Agreement (Inhibitex Inc)