Common use of TIMES AND CURRENCIES OF PAYMENT Clause in Contracts

TIMES AND CURRENCIES OF PAYMENT. 5.1 Royalty payments shall be made in United States dollars or if sales are made in the currency of other countries, royalties shall be calculated in the currency of such other country and be converted into United States dollars using the applicable exchange rate for sale of U.S. dollars listed by the foreign exchange desk of the Bank of America on the last day of the applicable reporting period.