Common use of Calculation of Payments Clause in Contracts

Calculation of Payments. Calculation of amounts payable hereunder will be converted from the applicable country currency to US dollars at the exchange rate quoted by an internationally recognized bank designated by Us as of the last day of the period for which payment is due, or the date of demand or billing by Us, whichever We designate. You will send to Us by electronic mail or facsimile a copy of bank deposit documentation for each payment made hereunder within 7 business days of such deposit. You will provide Us with written documentation of the exchange rate with each payment made.