Common use of Management of the Contributions Clause in Contracts

Management of the Contributions. 2.1 The funds deposited in the Trust Fund shall be accounted for as a single trust fund and shall be kept separate and apart from the funds of the Bank. The funds deposited in the Trust Fund may be commingled with other trust fund assets maintained by the Bank. The Bank, in its capacity as trustee, has legal title to the funds deposited in the Trust Fund. 18 This additional bracketed “it being understood” phrase is intended as a drafting shortcut in the case of SDTFs. It avoids having to create a separate SDTF version of the standard form of Annex 2, which is also prepared for MDTFs with multiple donors and AAs. If preferable, this clause can be left out and instead the various references to multiple Donors, AAs, Contributions and shares can be changed from plural to singular. 19 Include only if SDTF.

Management of the Contributions. 2.1 The funds deposited in the Trust Fund shall be accounted for as a single trust fund and shall be kept separate and apart from the funds of the BankIFC. The funds deposited in the Trust Fund may be commingled with other trust fund assets maintained by the BankIFC. The BankIFC, in its capacity as trustee, has legal title to the funds deposited in the Trust Fund. 18 9 This additional bracketed phrase “it being understood” phrase is intended as a drafting shortcut in the case of SDTFs. It avoids having to create a separate SDTF version of the standard form of Annex 2, which is also prepared for MDTFs with multiple donors and AAs. If preferable, this clause can be left out and instead the various references to multiple Donors, AAs, Contributions and shares can be changed from plural to singular. 19 10 Include only if SDTF.