Common use of Blocked Payments Clause in Contracts

Blocked Payments. In the event that, by reason of applicable Law in any country, it becomes impossible or illegal for the paying Party (or any other Selling Party) to transfer, or have transferred on its behalf, payments owed the other Party hereunder, the paying Party will promptly notify the other Party of the conditions preventing such transfer and such payments will be deposited in local currency in the relevant country to the credit of the other Party in a recognized banking institution designated by the other Party or, if none is designated by the other Party within a period of [***] days, in a recognized banking institution selected by the paying Party or another Selling Party, as the case may be, and identified in a written notice given to the other Party.

Blocked Payments. In the event that, by reason of applicable Law in any country, it becomes impossible or illegal for the paying Paying Party (or any other Selling Party) to transfer, or have transferred on its behalf, payments owed by the Paying Party to the other Party hereunder, the paying Paying Party will promptly notify the other Party of the conditions preventing such transfer and such payments will be deposited in local currency in the relevant country to the credit of the other Party in a recognized banking institution designated by the other Party or, if none is designated by the other Party within a period of [***] days], in a recognized banking institution selected by the paying Party or another Selling Paying Party, as the case may be, and identified in a written notice given to the other Party.

Blocked Payments. In the event that, If by reason of applicable Applicable Law in any countrycountry or region, it becomes impossible or illegal for the paying a Party (or any other Selling Party) to transfer, or have transferred on its behalf, payments owed the other Party hereunder, the paying then such Party will promptly notify the other Party of the conditions preventing such transfer and such payments will be deposited in local currency in the relevant country or region to the credit of the other Party in a recognized banking institution designated by the other Party or, if none is designated by the other Party within a period of [***] days], in a recognized banking institution selected by the paying Party or another Selling transferring Party, as the case may be, and identified in a written notice given to the other Party.

Blocked Payments. In the event that, by reason of applicable Law in any country, it becomes impossible or illegal for the paying a Party (or any other Selling Party) to transfer, or have transferred on its behalf, payments owed the other Party hereunder, the paying such Party will promptly notify the other Party of the conditions preventing such transfer and such payments will be deposited in local currency in the relevant country to the credit of the other Party in a recognized banking institution designated by the other Party or, if none is designated by the other Party within a period of [***] days], in a recognized banking institution selected by the paying Party or another Selling transferring Party, as the case may be, and identified in a written notice given to the other Party.

Blocked Payments. In the event that, by reason of applicable Law Laws in any country, it becomes impossible or illegal for the paying a Party (or any other Selling Party) to transfer, or have transferred on its behalf, payments owed the other Party hereunder, the paying such Party will promptly notify the other Party of the conditions preventing such transfer and such payments will be deposited in local currency in the relevant country to the credit of the other Party in a recognized banking institution designated by the other Party or, if none is designated by the other Party within a period of [***] days, in a recognized banking institution selected by the paying Party or another Selling transferring Party, as the case may be, and identified in a written notice given to the other Party.

Blocked Payments. In the event that, by reason of applicable Law in any country, it becomes impossible or illegal for the paying a Party (or any other Selling Party) to transfer, or have transferred on its behalf, payments owed the other Party hereunder, the paying such Party will promptly notify the other Party of the conditions preventing such transfer and such payments will be deposited in local currency in the relevant country to the credit of the other Party in a recognized banking institution designated by the other Party or, if none is designated by the other Party within a period of [***] days], in a recognized banking institution selected by the paying Party or another Selling transferring Party, as the case may be, and identified in a written notice given to the other Party.. ​

Blocked Payments. In the event that, If by reason of applicable Applicable Law in any countrycountry or region, it becomes impossible or illegal for the paying a Party (or any other Selling Party) to transfer, or have transferred on its behalf, payments owed the other Party hereunder, the paying then such Party will promptly notify the other Party of the conditions preventing such transfer and such payments will be deposited in local currency in the relevant country or region to the credit of the other Party in a recognized banking institution designated by the other Party or, if none is designated by the other Party within a period of [***] days*], in a recognized banking institution selected by the paying Party or another Selling transferring Party, as the case may be, and identified in a written notice given to the other Party.

Blocked Payments. In the event that, If by reason of applicable Applicable Law in any countrycountry or region, it becomes impossible or illegal for the paying a Party (or any other Selling Party) to transfer, or have transferred on its behalf, payments owed to the other Party hereunder, the paying then such Party will promptly notify the other Party of the conditions preventing such transfer and such payments will be deposited in local currency in the relevant country or region to the credit of the other Party in a recognized banking institution designated by the other Party or, if none is designated by the other Party within a period of [***] days], in a recognized banking institution selected by the paying Party or another Selling transferring Party, as the case may be, and identified in a written notice given to the other Party.

Blocked Payments. In the event that, by reason of applicable Law in any country, it becomes impossible or illegal for the paying a Party (or any other Selling Party) to transfer, or have transferred on its behalf, payments owed the other Party hereunder, the paying such Party will promptly notify the other Party of the conditions preventing such transfer and such payments will be deposited in local currency in the relevant country to the credit of the other Party in a recognized banking institution designated by the other Party or, if none is designated by the other Party within a period of [***] thirty (30) days, in a recognized banking institution selected by the paying Party or another Selling transferring Party, as the case may be, and identified in a written notice given to the other Party.

Blocked Payments. In the event that, by reason of applicable Applicable Law in any country, it becomes impossible or illegal for the paying a Party (or any other Selling Party) to transfer, or have transferred on its behalf, payments owed the other Party hereunder, the paying such Party will promptly notify the other Party of the conditions preventing such transfer and such payments will be deposited in local currency in the relevant country to the credit of the other Party in a recognized banking institution designated by the other Party or, if none is designated by the other Party within a period of [***] days], in a recognized banking institution selected by the paying Party or another Selling transferring Party, as the case may be, and identified in a written notice given to the other Party.

Blocked Payments. In the event that, If by reason of applicable Applicable Law in any countrycountry or region, it becomes impossible or illegal for the paying a Party (or any other Selling Party) to transfer, or have transferred on its behalf, payments owed the other Party hereunder, the paying then such Party will promptly notify the other Party of the conditions preventing such transfer and such payments will be deposited in local currency in the relevant country or region to the credit of the other Party in a recognized banking institution designated by the other Party or, if none is designated by the other Party within a period of [***] days], in a recognized ​ 52 ​ banking institution selected by the paying Party or another Selling transferring Party, as the case may be, and identified in a written notice given to the other Party.

Blocked Payments. In the event that, by reason of applicable Applicable Law in any country, it becomes impossible or illegal for the paying a Party (or any other Selling Party) to transfer, or have transferred on its behalf, payments owed the other Party hereunder, the paying such Party will promptly notify the other Party of the conditions preventing such transfer and such payments will be deposited in local currency in the relevant country to the credit of the other Party in a recognized banking institution designated by the other Party or, if none is designated by the other Party within a period of [***] 30 days, in a recognized banking institution selected by the paying Party or another Selling transferring Party, as the case may be, and identified in a written notice given to the other Party.