Common use of Mode of Payment; Taxes Clause in Contracts

Mode of Payment; Taxes. All payments due under this Agreement shall be paid by wire transfer of funds to an account at PROGENICS's designated bank in New York, New York, and shall be paid in U.S. Dollars, calculated at BMS's customary internal corporate monthly exchange rates for the last month of the calendar quarter for which remittance is made for royalties. Such payments shall be free of any taxes, charges, or remittance fees, except for income tax levied upon or required to be withheld and paid by BMS, its Affiliates or its Sub-sublicensees for the account of PROGENICS. BMS shall provide PROGENICS appropriate receipts of payment of such withholding taxes or other proof thereof. For each month and each currency, BMS's customary internal corporate monthly exchange rate shall equal the arithmetic average of the daily exchange rates (obtained as described below) during the period from (i) the 20th day of the preceding month (or, if such 20th day is not a business day, the immediately preceding business day) through (ii) the 19th day of the current month (or, if such 19th day is not a business day, the immediately preceding business day); each daily exchange rate shall be obtained from the Reuters Daily Rate Report or The Wall Street Journal, Eastern U.S. Edition, or, if not so available, as furnished by BMS's local Affiliates.

Mode of Payment; Taxes. All payments due under this Agreement shall be paid by wire transfer of funds to an account at PROGENICS's designated bank in New York, New York, and shall be paid in U.S. Dollars, calculated at BMS's customary internal corporate monthly exchange rates for the last month of the calendar quarter for which remittance is made for royalties. Such payments shall be free of any taxes, charges, or remittance fees, except for income tax levied upon or required to be withheld and paid by BMS, its Affiliates or its Sub-sublicensees for the account of PROGENICS. BMS shall provide PROGENICS appropriate receipts of payment of such withholding taxes or other proof thereof. For each month and each currency, BMS's customary internal corporate monthly exchange rate shall equal the arithmetic average of the daily exchange rates (obtained as described below) during the period from (i) the 20th day of the preceding month (or, if such 20th day is not a business day, the immediately preceding business day) through (ii) the 19th day of the current month (or, if such 19th day is not a business day, the immediately preceding business day); each daily exchange rate shall be obtained from the Reuters Daily Rate Report or The Wall Street Journal, Eastern U.S. Editionedition, or, if not so available, as furnished by BMS's local Affiliates.

Mode of Payment; Taxes. All payments due under this Agreement shall be paid by wire transfer of funds to an account at PROGENICS's designated bank in New York, New York, and shall be paid in U.S. Dollars, calculated at the BMS's customary internal corporate monthly exchange rates for the last month of the calendar quarter for which remittance is made for royalties. Such payments shall be free of any taxes, charges, or remittance fees, except for income tax levied upon or required to be withheld and paid by BMS, its Affiliates or its Sub-sublicensees for the account of PROGENICS. BMS shall provide PROGENICS appropriate receipts of payment of such withholding taxes or other proof thereof. For each month and each currency, BMS's customary internal corporate monthly exchange rate shall equal the arithmetic average of the daily exchange rates (obtained as described below) during the period from (i) the 20th day of the preceding month (or, if such 20th day is not a business day, the immediately preceding business day) through (ii) the 19th day of the current month (or, if such 19th day is not a business day, the immediately preceding business day); each daily exchange rate shall be obtained from the Reuters Daily Rate Report or The Wall Street Journal, Eastern U.S. Edition, or, if not so available, as furnished by BMS's local Affiliates.