Common use of Deposits of Financing Amounts Clause in Contracts

Deposits of Financing Amounts. Except as the Association may otherwise agree: 1. the Recipient shall open, prior to presenting to the Association the first request for withdrawal from the Financing Account, and thereafter maintain a deposit account in Dollar (“Foreign Currency Deposit Account”) on terms and conditions satisfactory to the Association. All withdrawals from the Financing Account shall be deposited by the Association into the Foreign Currency Deposit Account; and 2. the Recipient shall ensure that upon each deposit of an amount of the Financing into the Foreign Currency Deposit Account, an equivalent amount is accounted for in the Recipient’s budget management system, in a manner acceptable to the Association.

Deposits of Financing Amounts. Except as the Association may otherwise agree: 1. the The Recipient shall open, prior to presenting to the Association the first request for withdrawal from the Financing Account, and thereafter maintain a deposit account in Dollar (“Foreign Currency Deposit Account”) on terms and conditions satisfactory to the Association. All withdrawals from the Financing Account shall be deposited by the Association into the Foreign Currency Deposit Account; and 2. the The Recipient shall ensure that upon each deposit of an amount of the Financing into the Foreign Currency Deposit Account, an equivalent amount is accounted for in the Recipient’s budget management system, in a manner acceptable to the Association.

Deposits of Financing Amounts. Except as the Association may otherwise agree: 1. the The Recipient shall open, prior to presenting to the Association the first request for withdrawal from the Financing Account, and thereafter maintain a deposit account in Dollar Dollars (“Foreign Currency Deposit Account”) on terms and conditions satisfactory to the Association. All withdrawals from the Financing Account shall be deposited by the Association into the Foreign Currency Deposit Account; and. 2. the The Recipient shall ensure that upon each deposit of an amount of the Financing into the Foreign Currency Deposit Account, an equivalent amount is accounted for in the Recipient’s budget management system, in a manner acceptable to the Association.