Common use of Foreign Currency Exchange Clause in Contracts

Foreign Currency Exchange. All royalties shall be payable in full in the United States in United States Dollars, regardless of the countries in which sales are made. For the purpose of computing Net Sales for Licensed Products sold in any currency other than United States Dollars, the quarterly royalty payment will be calculated as follows: (A/B) x C = United States Dollars royalty payment on foreign current sales, where A = foreign current “Net Sales” (as defined above) per quarter; B = foreign exchange conversion rate, expressed in local currency per United States Dollar (using as the applicable foreign exchange rate the average of the rate published in the [***] of the [***], for the [***] of the calendar quarter); and C = the royalty rate applicable to such Net Sales under this Agreement.

Foreign Currency Exchange. All royalties shall be payable in full in the United States in United States Dollars, regardless of the countries in which sales are made. For the purpose of computing Net Sales for Licensed Products sold in any currency other than United States Dollars, the quarterly royalty payment will be calculated as follows: (A/B) x C = United States Dollars royalty payment on foreign current sales, where A = foreign current “Net Sales” (as defined above) per quarter; B = foreign exchange conversion rate, expressed in local currency per United States Dollar (using as the applicable foreign exchange rate the average of the rate published in the [***] [***] of the [***] [***] [***], [***] [***] [***] [***] [***] [***] [***], for the [***] [***] [***] of the calendar quarter); and C = the royalty rate applicable to such Net Sales under this Agreement.