Common use of Methods of Conserving Currencies Clause in Contracts

Methods of Conserving Currencies. The Bank shall accept from either Party promissory notes or similar securities issued by the government of the Party, or by the depository designated by such Party, in lieu of any part of the currency of the Party representing the paid-in portion of its subscription to the Bank's authorized capital, provided such currency is not required by the Bank for the conduct of its operations. Such notes or securities shall be non-negotiable, noninterest-bearing, and payable to the Bank at their par value on demand. On the same conditions, the Bank shall also accept such notes or securities in lieu of any part of the subscription of a Party with respect to which part the terms of the subscription do not require payment in cash.

Methods of Conserving Currencies. The Bank shall accept from either Party promissory notes or similar securities issued by the government Government of the Party, or by the depository designated by such Party, in lieu of any part of the currency of the Party representing the paid-in portion of its subscription to the Bank's ’s authorized capital, provided such currency is not required by the Bank for the conduct of its operations. Such notes or securities shall be non-negotiable, noninterestnon-interest-bearing, and payable to the Bank at their par value on demand. On the same conditions, the Bank shall also accept such notes or securities in lieu of any part of the subscription of a Party with respect to which part the terms of the subscription do not require payment in cash.