Common use of ACCOUNTING FOR ROYALTIES Clause in Contracts

ACCOUNTING FOR ROYALTIES. The Net Sales used for computing the royalties payable to Rigel by Pfizer shall be computed in U.S. dollars, and royalties shall be paid in U.S. dollars by wire transfer in immediately available funds to a U.S. account designated by Rigel, or by other mutually acceptable means. For purposes of determining the amount of royalties due, the amount of Net Sales in any foreign currency shall be computed by (a) converting such amount into U.S. dollars at the prevailing commercial rate of exchange for purchasing dollars with such foreign currency as published in the Wall Street Journal for the close of the last business day of the calendar quarter for which the relevant royalty payment is to be made by Pfizer; and (b) deducting the amount of any governmental tax, duty, charge, or other fee actually paid in respect of such conversion into, and remittance of U.S. dollars.

ACCOUNTING FOR ROYALTIES. The Net Sales used for computing the royalties payable to Rigel by Pfizer shall be computed in U.S. dollars, and royalties shall be paid in U.S. dollars by wire transfer in immediately available funds to a U.S. account designated by Rigel, or by other mutually acceptable means. For purposes of determining the amount of royalties due, the amount of Net Sales in any foreign currency shall be computed by (a) converting such amount into U.S. dollars at the prevailing commercial rate of exchange for purchasing dollars with such foreign currency as published in the Wall Street Journal for the close of the last business day of the calendar quarter for which the relevant royalty payment is to be made by Pfizer; and (b) deducting the amount of any governmental tax, duty, charge, or other fee actually paid in respect of such conversion into, and remittance of U.S. dollars.. 3.11