Common use of Deposits of Loan Amounts Clause in Contracts

Deposits of Loan Amounts. 1. The Borrower shall open, prior to furnishing to the Bank the request for withdrawal from the Loan Account, and thereafter maintain a Deposit Account in US Dollars in Bangko Sentral ng Pilipinas on terms and conditions satisfactory to the Bank. 2. The withdrawal from the Loan Account shall be deposited by the Bank into the Deposit Account, and 3. The Borrower shall ensure that upon the deposit of the amount of the Loan into the Deposit Account, an equivalent amount is accounted for in the Borrower’s budget management system, in a manner acceptable to the Bank.

Deposits of Loan Amounts. 1. The Borrower shall open, prior to furnishing to the Bank the request for withdrawal from the Loan Account, and shall thereafter maintain a Deposit Account in US Dollars in Bangko Sentral ng Pilipinas on terms and conditions satisfactory to the Bank. 2. The withdrawal from the Loan Account shall be deposited by the Bank into the Deposit Account, and 3. The Borrower shall ensure that upon the deposit of the amount of the Loan into the Deposit Account, an equivalent amount is accounted for in the Borrower’s budget management system, in a manner acceptable to the Bank.

Deposits of Loan Amounts. 1. The Borrower shall open, prior to furnishing to the Bank the request for withdrawal from the Loan Account, and shall thereafter maintain a Deposit Account deposit account in US Dollars in Bangko Sentral ng Pilipinas on terms and conditions satisfactory to the BankBank (“Deposit Account”). 2. The withdrawal All withdrawals from the Loan Account shall be deposited by the Bank into the Deposit Account, and. 3. The Borrower shall ensure that upon Upon the deposit of the amount of the Loan into the Deposit Account, the Borrower shall ensure that an equivalent amount is accounted for in the Borrower’s budget management system, in a manner acceptable to the Bank.

Deposits of Loan Amounts. 1. The Borrower shall open, prior to furnishing to the Bank the request for withdrawal from the Loan Account, and shall thereafter maintain a Deposit Account in US Dollars in Bangko Sentral ng Pilipinas on terms and conditions satisfactory to the Bank. 2. The withdrawal from the Loan Account shall be deposited by the Bank into the Deposit Account, and. 3. The Borrower shall ensure that upon Upon the deposit of the amount of the Loan into the Deposit Account, the Borrower shall ensure that an equivalent amount is accounted for in the Borrower’s budget management system, in a manner acceptable to the Bank.