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 Financing Account, and thereafter maintain the following two deposit accounts (“Deposit Accounts”) on terms and conditions satisfactory to the Bank: (a) a deposit account in Dollars (“Foreign Currency Deposit Account”); and (b) a deposit account in Gourdes (“Local Currency Deposit Account”). 2. All withdrawals from the Financing Account shall be deposited by the Association into the Foreign Currency Deposit Account. Upon each deposit of an amount of the Financing into the Foreign Currency Deposit Account, the Recipient shall deposit an equivalent amount into the Local Currency Deposit Account. All and any amounts withdrawn from the Local Currency Deposit Account shall be used for Recipient’s expenditures except the Excluded Expenditures.

Deposits of Financing Amounts. Except as the Association may otherwise agree: 1. The the Recipient shall open, prior to furnishing to the Association the first request for withdrawal from the Financing Account, and thereafter maintain the following two deposit accounts (“Deposit Accounts”) on terms and conditions satisfactory to the Bank: (a) a deposit account in Dollars Dollar (“Foreign Currency Deposit Account”); and (b) a deposit account in Gourdes Afghani (“Local Currency Deposit Account”). 2. All all withdrawals from the Financing Account shall be deposited by the Association into the Foreign Currency Deposit Account. Upon each deposit of an amount of the Financing into the Foreign Currency Deposit Account, the Recipient shall deposit an equivalent amount into the Local Currency Deposit Account. All and any amounts withdrawn from Account for the Local Currency Deposit Account shall be used for financing of expenditures in the Recipient’s expenditures except the Excluded Expendituresdevelopment budget.

Deposits of Financing Amounts. 1. The Recipient shall open, prior to furnishing to the Association the first request for withdrawal from the Financing Account, and thereafter maintain the following two deposit accounts (“Deposit Accounts”) on terms and conditions satisfactory to the Bank: (a) a deposit account in Dollars (“Foreign Currency Deposit Account”); and (b) a deposit account in Gourdes Somoni (“Local Currency Deposit Account”). 2. All withdrawals from the Financing Account shall be deposited by the Association into the Foreign Currency Deposit Account. Upon each deposit of an amount of the Financing into the Foreign Currency Deposit Account, the Recipient shall deposit an equivalent amount into the Local Currency Deposit Account. All and any amounts withdrawn from the Local Currency Deposit Account shall be used exclusively for Recipient’s expenditures except the Excluded Eligible Expenditures.