Common use of Exchange Rate; Manner and Place of Payment Clause in Contracts

Exchange Rate; Manner and Place of Payment. Royalty payments and reports for the sale of Products shall be made for each [ * ] period ending on the last day of [ * ]. Exchange conversion for foreign currency into U.S. Dollars shall be made as necessary at the median of the rates of exchange for sales and purchases of U.S. Dollars on the last business day of the relevant royalty period, as established by [ * ]. Once selected, the designated bank may only be changed by the mutual written agreement of the parties. All payments owed under this Agreement shall be made by telegraphic transfer.

Exchange Rate; Manner and Place of Payment. Royalty payments and reports for the sale of Products shall be made for each [ * ] period ending on the last day of [ * ]. Exchange conversion for foreign currency sales into U.S. Dollars shall be made as necessary at the median of the rates rate of exchange for sales and purchases of U.S. Dollars on the last business day of the relevant royalty period, as established by the [ * ]. Once selected, the designated bank may only be changed by the mutual written agreement of the parties. All payments owed under this Agreement shall be made by telegraphic transfer.