Common use of Foreign Royalties Clause in Contracts

Foreign Royalties. Where royalties are due hereunder for sales of GDF-8 Licensed Products in a country where, by reason of currency regulations or taxes of any kind, it is impossible or illegal for such Party, any Affiliate or sublicensee to transfer royalty payments to the licensor Party for Net Sales in that country, such royalties shall be deposited in whatever currency is allowable by the person or entity not able to make the transfer for the benefit or credit of the licensor Party in an accredited bank in that country that is reasonably acceptable to the licensor Party.