Average Exchange Rate Clause Samples

Average Exchange Rate. 2.7 Award................................................................................................. 10.4

Average Exchange Rate. In the event that MediGene shall incur reimbursable Development and Registration Costs in Dollars or an Other Currency, the costs so incurred will, for purposes of reimbursement, first be converted to Euros at a composite exchange rate which shall equal the arithmetic average of the daily exchange rates (e.g., Dollar/Euro), during the calendar quarter covered by the relevant Reimbursement Invoice, from The Wall Street Journal, Eastern U.S. Edition or, if such exchange rates are not available therefrom with respect to any given day, the Reuters Daily Rate Report. Having thus been converted to Euros, such costs will then be invoiced and reimbursed in Euros.

Average Exchange Rate. In the event that B▇▇▇▇▇▇ shall incur reimbursable Development and Registration Costs in Euros or an Other Currency, the costs so incurred will, for purposes of reimbursement, first be converted to Dollars, as described in Section 8.1.1(b). Having thus been converted into Dollars, such costs will then be invoiced and reimbursed in Dollars.