IATA Exchange Rate definition
IATA Exchange Rate means the 5-day currency exchange rate as published by IATA. For clarity, IATA publishes exchange rates between the 24th and 28th calendar day of each month. For purposes of this Agreement, the IATA Exchange Rate will be effective for the month following its publication. For example, a rate published on January 25th would be effective for the month of February.
Examples of IATA Exchange Rate in a sentence
Each Party’s Included Revenues and Included Costs shall be calculated at the end of each Accounting Period in the relevant local currencies and shall be converted from such currencies to USD using the IATA Exchange Rate effective on the first day of each month within such Accounting Period.
For purposes of this Agreement, the IATA Exchange Rate will be effective for the month following its publication.
Any such adjusted amounts shall reflect the IATA Exchange Rate effective at the date of conversion in accordance with Appendix 2.