Common use of Deposits of Financing Amounts Clause in Contracts

Deposits of Financing Amounts. 1. The Recipient shall open, prior to furnishing to the Association the first request for withdrawal from the Credit Account, and thereafter maintain in its Central Bank a deposit account in dollars on terms and conditions satisfactory to the Association. 2. All withdrawals from the Credit Account shall be deposited by the Association into the Deposit Account. Upon each deposit of an amount of the Credit into the Deposit Account, the Recipient shall transfer to Himachal Pradesh an amount in Rupees equivalent to the amount deposited in the Deposit Account as of the day of such deposit. Such transfer shall be made in accordance with the Recipient’s standard arrangements for onlending of external development funds to the States of India.

Deposits of Financing Amounts. 1. The Recipient shall open, prior to furnishing to the Association the first request for withdrawal from the Credit Account, and thereafter maintain in its Central Bank a deposit account in dollars on terms and conditions satisfactory to the Association. 2. All withdrawals from the Credit Account shall be deposited by the Association into the Deposit Account. Upon each deposit of an amount of the Credit into the Deposit Account, the Recipient shall transfer to Himachal Andhra Pradesh an amount in Rupees equivalent to the amount deposited in the Deposit Account as of the day of such deposit. Such transfer shall be made in accordance with the Recipient’s standard arrangements for onlending of external development funds to the States of India.

Deposits of Financing Amounts. 1. The Recipient shall open, prior to furnishing to the Association the first request for withdrawal from the Credit Account, and thereafter maintain in its Central Bank a deposit account in dollars on terms and conditions satisfactory to the Association. 2. All withdrawals from the Credit Account shall be deposited by the Association into the Deposit Account. Upon each deposit of an amount of the Credit into the Deposit Account, the Recipient shall transfer to Himachal Pradesh Orissa an amount in Rupees equivalent to the amount deposited in the Deposit Account as of the day of such deposit. Such transfer shall be made in accordance with the Recipient’s standard arrangements for onlending of external development funds to the States of India.

Deposits of Financing Amounts. Except as the Association may otherwise agree: 1. The Recipient shall open, prior to furnishing to the Association the first request for withdrawal from the Credit Account, and thereafter maintain in its Central Bank a deposit account in dollars on terms and conditions satisfactory to the Association. 2. All withdrawals from the Credit Account shall be deposited by the Association into the Deposit Account. Upon each deposit of an amount of the Credit into the Deposit Account, the Recipient shall transfer to Himachal Pradesh Bihar an amount in Rupees equivalent to the amount deposited in the Deposit Account as of the day of such deposit. Such transfer shall be made in accordance with the Recipient’s standard arrangements for onlending of external development funds to the States states of India.