Monthly Average Exchange Rate definition

Monthly Average Exchange Rate has the meaning set forth in Section 6.7.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Monthly Average Exchange Rate means the simple average of prior month-end Exchange Rate and current month-end Exchange Rate based on 9:00 AM Central Time Bloomberg screen on the penultimate Business Day of the corresponding month, and “Exchange Rate” means, with respect to a Business Day, the spot bid rate for X currencies and spot ask rate for non-X currencies for the conversion of the applicable country’s or other jurisdiction’s currency to Dollars as reported at 9:00 AM Central Time Bloomberg screen on the penultimate Business Day. Each Party shall have the right to offset any expense that is owed by the other Party but not paid against any payments owed by such Party, if any, under the Collaboration Agreement.

Examples of Monthly Average Exchange Rate in a sentence

Such standard conversion methodology shall be based upon the Monthly Average Exchange Rate.
The Transition Services charges shall be calculated initially using Japanese Yen and shall be converted into Dollars using the Monthly Average Exchange Rate in effect during the respective calendar month.
Any currency conversions made in preparation of the foregoing will be made at the Monthly Average Exchange Rate as of the Initial Closing Date.
The Variances shall be calculated initially using Japanese Yen and shall be converted into Dollars using the Monthly Average Exchange Rate in effect during the respective calendar month.
The amounts of any Material Cost Component of Inventory shall be calculated on a monthly basis initially using Japanese Yen and shall be converted into Dollars using the Monthly Average Exchange Rate in effect for each respective calendar month.
With respect to the calculation of royalty payments to be made by Novartis to Vanda in relation to Net Sales invoiced in a currency other than United States Dollars, for the conversion of the Net Sales amount into United States Dollars, the Novartis Monthly Average Exchange Rate or such other standard methodology for currency conversion as employed by Novartis at that time, shall be used.
The Royalty shall be calculated using sales in each country or territory expressed in local currency and converted to United States dollars using the Monthly Average Exchange Rate.
The amount of the Labor and Overhead Payment shall be converted into Dollars using the Monthly Average Exchange Rate in effect as of the Closing Date.

More Definitions of Monthly Average Exchange Rate

Monthly Average Exchange Rate means the simple average of prior month-end Exchange Rate and current month-end Exchange Rate based on 9:00 AM Central Time Bloomberg screen on the penultimate Business Day of the corresponding month, and “Exchange Rate” means, with respect to a Business Day, the spot bid rate for X currencies and spot ask rate for non-X currencies for the conversion of the applicable country’s or other jurisdiction’s currency to Dollars as reported at 9:00 AM Central Time Bloomberg screen on the penultimate Business Day. AbbVie shall have the right to offset any expense that is owed by Galapagos, if any, but not paid for more than […***…] ([…***…]) days after its due date against any payments owed by AbbVie, if any, under this Agreement.

Monthly Average Exchange Rate means, with respect to a country and a calendar month, the actual average daily exchange rate for such month for converting the applicable country's currency into U.S. Dollars, as such rate is reported in Bloomberg Professional service application.

Monthly Average Exchange Rate means […***…], and “Exchange Rate” means, with respect to a Business Day, […***…]. AbbVie shall have the right to offset any expense that is owed by Ablynx but not paid against any payments owed by AbbVie, if any, under this Agreement; provided, that no such offset shall be allowed where either the expense owed by Ablynx or the payments owed by AbbVie are or become the subject of dispute resolution under Section 13.8; provided further, that such dispute resolution has been initiated in good faith.

Monthly Average Exchange Rate means the quotient determined by dividing (i) the sum of the conversion rate existing in the United States (as reported in The Wall Street Journal) on the last business day preceding the applicable month immediately preceding the date upon which the Estimated Transfer Price or Actual Transfer Price, as the case may be, is to be calculated, and the last business day of such applicable month, by (ii) two. If The Wall Street Journal ceases to be published, then the rate of exchange to be used shall be that reported in such other business publication of national circulation in the United States as the Supplier and Purchaser reasonably agree.

Monthly Average Exchange Rate means the average exchange rate of the prior calendar month used by Buyers for financial reporting, generally as reported by Bloomberg at 9:00 a.m. on the penultimate Business Day of each calendar month.

Monthly Average Exchange Rate means, with respect to each country or territory, the average exchange rate of the current month and prior month source rate used by Seller for financial reporting, generally as reported by Reuters on the penultimate Business Day of each month.