CURRENCY AND EXCHANGE RATES. 7.1 SAP will invoice Partner all fees as stipulated in applicable pricing sheets and as agreed upon in the Main Agreement. In case of a Two-Tier Partner assigned to manage Partner, SAP reserves the right to also offer invoicing in other currencies (“Local Two-Tier Partner Currency”). Such local currency will be defined by Two-Tier-Partner handling the invoice. Partner has to follow Local Two-Tier Partner Currency setup communicated by Two-Tier Partner to Partner as long as Partner is managed by such Two-Tier Partner. 7.2 Where SAP and Partner have agreed that SAP will invoice Partner in USD or Local Two-Tier Partner Currency under the Agreement, the EURO/USD or EURO/ Local Two-Tier Partner Currency exchange rate shall be based on the official fixing of the European Central Bank on the last business day of the month immediately preceding the month in which SAP or Two-Tier-Partner invoices Partner. 7.3 For reporting reasons, e.g. according to section 5.1, Partner shall apply currency exchange rates based on the official fixing of the European Central Bank on the last business day of the month preceding the month in which Partner sends report to SAP.
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Sources: Platform Application Development Cooperation Agreement, Platform Application Development Cooperation Agreement, Platform Application Development Cooperation Agreement