Common use of Maintenance of Value of Currency Holdings Clause in Contracts

Maintenance of Value of Currency Holdings. (a) Whenever the par value of a member's currency is reduced or the foreign exchange value of a member's currency has, in the opinion of the Association, depreciated to a significant extent within that member's territories, the member shall pay to the Association within a reasonable time an additional amount of its own currency sufficient to maintain the value, as of the time of subscription, of the amount of the currency of such member paid in to the Association by the member under Article II, Section 2(d), and currency furnished under the provisions of the present paragraph, whether or not such currency is held in the form of notes accepted pursuant to Article II, Section 2(e), provided, however, that the foregoing shall apply only so long as and to the extent that such currency shall not have been initially disbursed or exchanged for the currency of another member.

Maintenance of Value of Currency Holdings. (a) Whenever the par value of a member's currency is reduced or the foreign exchange value of a member's currency has, . in the opinion of the Association, depreciated to a significant extent within that member's territories, the member shall pay to the Association within a reasonable time an additional amount of its own currency sufficient to maintain the value, value as of the time of subscription, of the amount of the currency of such member paid in to the Association by the member under Article II11, Section 2(d2 (d), and currency furnished under the provisions of the present paragraph, whether or not such currency is held in the form of notes accepted pursuant to Article II, Section 2(e2 (e), provided, however, that thai the foregoing shall apply only so long as and to the extent that such currency shall not have been initially disbursed or exchanged for tor the currency cunency of another member.