Common use of Payments in Other Currencies Clause in Contracts

Payments in Other Currencies. If by law, regulation, or fiscal policy of a particular country, conversion into United States dollars or transfer of funds of a convertible currency to the United States is restricted or forbidden, Company shall give University prompt written notice of the restriction within the sixty-day payment deadline described in Section 5.2. Company shall pay any amounts due University through whatever lawful methods University reasonably designates. However, if University fails to designate a payment method within thirty

Payments in Other Currencies. If by law, regulation, or fiscal policy of a particular country, conversion into United States dollars or transfer of funds of a convertible currency to the United States is restricted or forbidden, Company shall give University prompt written notice of the restriction within such restriction, which notice shall satisfy the sixty-day payment deadline described in Section 5.2. Company shall pay any amounts due University through whatever lawful methods by depositing such payment in local currency to the credit of University reasonably designates. Howeverin a recognized banking institution selected by Company and identified by written notice to University, if and such deposit shall fulfill all obligations of Company to University fails with respect to designate a payment method within thirtysuch payment.