Common use of Methods of Payments Clause in Contracts

Methods of Payments. All payments due to either PDL or Biogen Idec under this Agreement shall be paid in Dollars by wire transfer to a bank in the U.S. designated in writing by the Party to which the payment is due. Payments due on Collaboration Products or Royalty Products distributed in countries or jurisdictions outside of the U.S. shall be made in U.S. Dollars after being converted at the rate of exchange for such country’s or jurisdiction’s currency in U.S. Dollars as listed in the Wall Street Journal, Eastern Edition on the last business day of the Calendar Quarter in which such sales were made.