Common use of Currency, Place of Payment, Interest Clause in Contracts

Currency, Place of Payment, Interest. (a) All dollar amounts referred to in this Agreement shall be expressed in United States dollars. All payments to the Licensor under this Agreement shall be made in United States dollars, as directed by the Licensor, by wire transfer to the Licensor or in such other manner as the Licensor may designate from time to time. (b) If Licensee receives revenues from sales of Products in a currency other than United States dollars, royalties shall be converted into United States dollars at a quarterly conversion rate for each foreign currency calculated as the average of the conversion rate for such currency published in the Exchange Rates table in the eastern edition of the Wall Street Journal for the first business day of each month of the quarter. (c) Amounts that are not paid when due shall accrue interest from the due date until paid, at an annual rate equal to the Prime Rate plus 1% as published in the eastern edition of the Wall Street Journal as of the due date. The Licensor may treat unpaid payments as a breach of this Agreement in a manner consistent with Article XI notwithstanding the payment of interest.

Currency, Place of Payment, Interest. (a) All dollar amounts referred to in this Agreement shall be expressed in United States dollars. All payments to the Licensor under this Agreement shall be made in United States dollars, as directed by the Licensor, by wire transfer to the Licensor or in such other manner as the Licensor may designate from time to time. (b) If Licensee receives revenues from sales of Products in a currency other than United States dollars, royalties shall be converted into United States dollars at a quarterly conversion rate for each foreign currency calculated as the average of the conversion rate for such currency published in the Exchange Rates table in the eastern edition of the Wall Street Journal for the first business day of each month of the quarter. (c) Amounts that are not paid when due shall accrue interest from the due date until paid, at an annual rate equal to the Prime Rate plus 1% as published in the eastern edition of the Wall Street Journal as of the due date. The Licensor may treat unpaid payments as a breach of this Agreement in a manner consistent with Article XI notwithstanding the payment of interest. **** Portions of this Exhibit have been omitted pursuant to a request for confidential treatment filed with the Commission.