Common use of Blocked Currency Clause in Contracts

Blocked Currency. In each country where the local currency is blocked and cannot be removed from the country, royalties accrued in that country shall be paid to Exelixis in the country in local currency by deposit in a local bank designated by Exelixis, unless the Parties otherwise agree.

Blocked Currency. In each country where the local currency is blocked and cannot be removed from the country, royalties accrued in that country shall be paid to Exelixis in Dollars based on the Dollar reported sales for the quarter (translated for such country in local currency by deposit in a local bank designated by Exelixisper Statement of Financial Standards No. 52), unless the Parties otherwise agreemutually agreed.