Currency Transfer Restrictions. If in any country in the Territory the payment or transfer of royalties on Net Sales in such country is prohibited by law or regulation, BTC shall notify the Research Foundation of the conditions preventing such transfer, and shall deposit the blocked payments in local currency in a recognized banking institution in the relevant country for the credit of the Research Foundation.
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Samples: Cellulite License Agreement (Biospecifics Technologies Corp), Dupuytren’s Disease License Agreement (Biospecifics Technologies Corp), Frozen Shoulder License Agreement (Biospecifics Technologies Corp)
Currency Transfer Restrictions. If in any country in the Territory the payment or transfer of royalties on Net Sales in such country is prohibited by law or regulation, BTC shall notify the Research Foundation Gerut of the conditions preventing such transfer, and shall deposit the blocked payments in local currency in a recognized banking institution in the relevant country for the credit of the Research FoundationGerut and such deposits shall belong solely to Gerut.
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