Settlement Currency, Payment Currency and Exchange Rate. End Users’ payment transactions on STOVE shall be settled in KRW for the End Users residing in Korea and in USD for the End Users residing in outside of Korea. SGS shall make payments to the Partner hereunder in KRW if it is a Korean Partner and in USD if it is not a Korean Partner. If the settlement currency is different from the payment currency, the applied foreign exchange rate shall be the official foreign exchange rate promulgated by the bank used by SGS to pay such amount to the Partner on the date of payment
Appears in 5 contracts
Samples: Stove Studio Paid Service Agreement, Service Agreement, Stove Indie Paid Service Agreement
Settlement Currency, Payment Currency and Exchange Rate. End Users’ payment transactions on STOVE shall be settled in KRW for the End Users residing in Korea and in USD for the End Users residing in outside of Korea. SGS shall make payments to the Partner hereunder in KRW if it is a Korean Partner and in USD if it is not a Korean Partner. If the settlement currency is different from the payment currency, the applied foreign exchange rate shall be the daily first round quotation of the official foreign exchange rate promulgated by the bank used by SGS to pay such amount to the Partner on the date of payment.
Appears in 2 contracts
Samples: Stove Studio Paid Service Agreement, Stove Studio Paid Service Agreement
