Common use of Exchange Restriction Clause in Contracts

Exchange Restriction. In the event any national government imposes any exchange restriction applying to payments required under this Agreement, an account in the name of Licensor will be established in a financial institution of Licensor's choice in the country of such national government, and all monies due Licensor will be paid into such account, or, at Licensor's election, payment will be made to any account designated by Licensor that complies with such restriction.

Exchange Restriction. In the event any national government imposes any exchange restriction applying to payments required under this Agreement, an account in the name of Licensor the Licensors will be established in a financial institution of the designated Licensor's choice in the country of such national government, and all monies due Licensor Licensors will be paid into such account, or, at the designated Licensor's election, payment will be made to any account designated selected by such Licensor that complies with such restriction.