Common use of Methods of Meeting Liabilities of the Bank Clause in Contracts

Methods of Meeting Liabilities of the Bank. 1. In the Bank’s ordinary operations, in cases of arrears or default on loans made, participated in, or guaranteed by the Bank, and in cases of losses on equity investment or other types of financing under sub-paragraph 2 (vi) of Article 11, the Bank shall take such action as it deems appropriate. The Bank shall maintain appropriate provisions against possible losses. 2. Losses arising in the Bank’s ordinary operations shall be charged: (i) first, to the provisions referred to in paragraph 1 above; (ii) second, to net income; (iii) third, against reserves and retained earnings; (iv) fourth, against unimpaired paid-in capital; and (v) last, against an appropriate amount of the uncalled subscribed callable capital which shall be called in accordance with the provisions of paragraph 3 of Article 6.

Methods of Meeting Liabilities of the Bank. 1. In the Bank’s ordinary operations, in cases of arrears or default on loans made, participated in, or guaranteed xxxxxx- xxxx by the Bank, and in cases of losses on equity investment or other types of financing under sub-paragraph 2 (vi) of Article 11, the Bank shall take such action as it deems appropriate. The Bank shall maintain appropriate appropri- ate provisions against possible losses. 2. Losses arising in the Bank’s ordinary operations shall be charged: (i) first, to the provisions referred to in paragraph 1 above; (ii) second, to net income;income;‌‌‌ (iii) third, against reserves and retained earnings; (iv) fourth, against unimpaired paid-in capital; and (v) last, against an appropriate amount of the uncalled subscribed callable capital which shall be called in accordance with the provisions of paragraph 3 of Article 6.