Common use of Allocation and Distribution of Net Income Clause in Contracts

Allocation and Distribution of Net Income. 1. The Board of Governors shall determine at least annually what part of the Bank’s net income, after making provisions for reserves and, if necessary, against possible losses under paragraph 1 of Article 17 of this Agreement, shall be allocated to surplus or other purposes and what part, if any, shall be distributed. Any such decision on the allocation of the Bank’s net income to other purposes shall be taken by a majority of not less than two-thirds of the Governors, representing not less than two-thirds of the total voting power of the members. No such allocation, and no distribution, shall be made until the general reserve amounts to at least ten (10) per cent of the authorized capital stock.

Allocation and Distribution of Net Income. 1. The Board of Governors shall determine at least annually what part of the Bank’s net income, after making provisions for reserves and, if necessaryneces- sary, against possible losses under paragraph 1 of Article 17 of this Agreement, 500 • The Future of the Global Economic Organizations shall be allocated to surplus or other purposes and what part, if any, shall be distributed. Any such decision on the allocation of the Bank’s net income to other purposes shall be taken by a majority of not less than two-two- thirds of the Governors, representing not less than two-thirds of the total voting power of the members. No such allocation, and no distribution, shall be made until the general reserve amounts to at least ten (10) per cent of the authorized capital stock.

Allocation and Distribution of Net Income. 1. The Board of Governors shall determine at least annually what part of the Bank’s 's net income, after making provisions provision for reserves and, if necessary, against possible losses under paragraph 1 of Article 17 of this Agreement, shall be allocated to surplus or other purposes and what part, if any, shall be distributed. Any such decision on the allocation of the Bank’s 's net income to other purposes shall be taken by a majority of not less than two-thirds of the Governorsgovernors, representing not less than two-thirds of the total voting power of the members. No such allocation, and no distribution, shall be made until the general reserve amounts to at least ten (10) per cent of the authorized capital stock.

Allocation and Distribution of Net Income. 1. The Board of Governors shall determine at least annually what part of the Bank’s net income, after making provisions for reserves and, if necessary, against possible losses under paragraph 1 I of Article 17 of this Agreement, shall be allocated to surplus or other purposes and what part, . if any, shall be distributed. Any such decision on the allocation of the Bank’s net income to other purposes shall be taken by a majority of not less than two-thirds of the Governors, representing not less than two-thirds of the total voting power of the members. No such allocation, and no distribution, shall be made until the general reserve amounts to at least ten (10) per cent of the authorized capital stock.