TPTX » Topics » 4.10 Exchange Rate; Manner and Place of Payment.

This excerpt taken from the TPTX 8-K filed Oct 10, 2006.
4.10        Exchange Rate; Manner and Place of Payment. All payments hereunder shall be payable in U.S. dollars. For payments made on sales of Licensed Product and Additional Product, with respect to each quarter, for countries other than the U.S., whenever conversion of payments from any foreign currency shall be required, such conversion shall be made at a rate of exchange equal to the rate of exchange for the currency of the country from which payments are payable as published in The Wall Street Journal, Western Edition, on the last business day of the calendar quarter for which a payment is due. All payments owed under this Agreement shall be made by wire transfer to a bank and account designated in writing by LSRI, unless otherwise specified in writing by LSRI.

 

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