Common use of Blocked Payments Clause in Contracts

Blocked Payments. In the event that, by reason of Applicable Law or regulation in any country, it becomes impossible or illegal for one party to transfer payments to the other party, such payments shall 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 after its receipt of written notice from such party, in a recognized banking institution selected by such party and identified in a subsequent written notice given to the other party.

Blocked Payments. In the event that, by reason of Applicable Law or regulation Laws in any country, it becomes impossible or illegal for one party a Party or its Affiliates to transfer transfer, or have transferred on its behalf, payments to the other partyParty, such blocked Party shall promptly notify the other Party of the conditions preventing such transfer and such distribution fees or other payments shall be deposited in local currency in the relevant country to the credit of the other party receiving 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) [***] calendar days after its receipt of written notice from such party, in a recognized banking institution selected designated by such party and identified in a subsequent written notice given to the other partyreceiving Party.

Blocked Payments. In the event that, by reason of Applicable Law or regulation Laws in any country, it becomes impossible or illegal for one party a Party or its Affiliate to transfer transfer, or have transferred on its behalf, payments to the other partyParty, such Party shall [***] notify the other Party of the conditions preventing such transfer and such payments shall 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 after its receipt of written notice from such party, in a recognized banking institution selected by such party and identified in a subsequent written notice given to the other party[***].

Blocked Payments. In the event that, by reason of Applicable Law or regulation in any country, it becomes impossible or illegal for one party to transfer payments to the other party, such payments shall 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 after its receipt of written notice from such party, in a recognized banking institution selected by such party and identified in a subsequent written notice given to the other party.. -40-

Blocked Payments. In the event that, by reason of Applicable Law or regulation in any country, it becomes impossible or illegal for one party to transfer payments to the other party, such payments shall 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 after its receipt of written notice from such party, in a recognized banking institution selected by such party and identified in a subsequent written notice given to the other party.. ARTICLE VII

Blocked Payments. In the event that, by reason of Applicable Law or regulation applicable Laws in any country, it becomes impossible or illegal for one party a Party or its Affiliate, licensee or Sublicensee to transfer transfer, or have transferred on its behalf, payments to the other partyParty, such Party shall [***] notify the other Party of the conditions preventing such transfer and such payments shall 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 after its receipt of written notice from such party, in a recognized banking institution selected by such party and identified in a subsequent written notice given to the other party[***].