Statements and Payment. (a) JapanJV shall, as the so-called “merchant of record” for amounts collected in connection with the Customized Service, JapanJV shall send USCo a statement detailing those Royalties and shall pay USCo any such Royalties which are due to USCo. (b) JapanJV shall compute Royalties in U.S. dollars at the published rate of exchange for the last day of the reporting period as reported in the Wall Street Journal.
Appears in 2 contracts
Sources: Joint Venture License Agreement, Joint Venture License Agreement