Common use of Currency Restrictions Clause in Contracts

Currency Restrictions. If restrictions on the transfer of currency exist in any country such as to prevent Xxxxxxx from making the payments in the currency required under section 9.5, Xxxxxxx shall take all reasonable steps to obtain a waiver of such restrictions or otherwise enable Xxxxxxx to make such payments, failing which Xxxxxxx may make the royalty payments due upon sales in such country in local currency and deposit such payments in a local bank or other depository designated by ACI.

Currency Restrictions. If restrictions on the transfer of currency exist in any country such as to prevent Xxxxxxx Provention from making the payments in the currency required under section 9.58.10, Xxxxxxx Provention shall take all reasonable steps to obtain a waiver of such restrictions or otherwise enable Xxxxxxx Provention to make such payments, failing which Xxxxxxx Provention may make the royalty payments due upon sales in such country in local currency and deposit such payments in a local bank or other depository designated by ACIJxxxxxx.