Common use of FREE CONVERTIBILITY AND FREE TRANSFER Clause in Contracts

FREE CONVERTIBILITY AND FREE TRANSFER. Each Party in whose territory an investment has been made shall grant in respect of such investment the right to the unrestricted transfer of - (i) returns; (ii) the proceeds from the total or partial liquidation of an investment; provided however, that in periods of serious balance of payments difficulties such transfers may be phased over a period of three years; (iii) amounts for the repayment of loans incurred for the investment; (iv) the net earnings of nationals of one Party who are employed and allowed to work in connection with an investment in the territory of the other Party; (v) payments deriving from indemnifications arising from expropriations and compensation for losses provided for in Articles X and XI of this Agreement.

FREE CONVERTIBILITY AND FREE TRANSFER. Each Party in whose territory an investment has been made shall grant in respect of such investment the right in compliance with its laws relating to taxation to the unrestricted transfer of - (i) returns; (ii) the proceeds from the total or partial liquidation of an investment; provided however, that in periods of serious balance of payments difficulties such transfers may be phased over a period of three years; (iii) amounts for the repayment of loans incurred for the investment; (iv) the net earnings of nationals of one Party who are employed and allowed to work in connection with an investment in the territory of the other Party; (v) payments deriving from indemnifications arising from expropriations and compensation for losses provided for in Articles X and XI of this Agreement.