Common use of February 1992 Clause in Contracts

February 1992. 4. If, after entry into force of this Agreement, any tariff reduction is applied on an erga omnes basis, in particular reductions resulting from the tariff agreement concluded as a result of the GATT Uruguay Round, such reduced duties shall replace the basic duties referred to in paragraph 3 as from that date when such reductions are applied.

February 1992. 42. If, after entry into force of this the Agreement, any tariff reduction is applied on an erga omnes basis, in particular reductions resulting from the tariff agreement concluded as a result of the GATT Uruguay RoundRound of Multilateral Trade negotiations, such reduced duties shall replace the basic duties referred to in paragraph 3 1 as from that date when such reductions are applied.