No. V.2.3 - Nominalistic principle
Unless otherwise agreed by the parties, a claim for payment in a certain currency entitles the creditor only to the contractually specified amount of that currency (nominal value), irrespective of any fluctuations of the currency in which the debt is expressed between the date of concluding the contract out of which the claim arises and the date of payment.
1. Contractual Clause Departing From Nominalistic Principle
Statements and Payments
Licensee shall (...) pay to X the royalties due with regard to the Licensed Products Sold in the respective quarter within X days from the date of issuance of the respective invoice by X (...) Payments to be made by Licensee to X under or in connection with this Agreement shall be paid in Euro to the following bank account (...) Royalties shall be paid in Euro. To the extent that the Net Selling Price for Licensed Products Sold by Licensee or its Subsidiaries outside the countries having Euro as their national currency is paid to Licensee other than in Euro, Licensee shall convert the portion of the royalty payable to X from such Net Selling Price into Euro at the official rate of exchange of the currency of the country from which the Net Selling Price was paid, as quoted by the US Wall Street Journal for the last business day of the calendar quarter in which such Licensed Products were sold. Should however, the inflation rate in a non Euro country exceed ten percent per month, the conversion shall be made at the official exchange rate on the day on which the Licensed Product was sold.