Common use of Payment of Contributions Clause in Contracts

Payment of Contributions. (1) Contributions to the Administrative Budget for each financial year shall be payable in freely convertible currency and shall become due on the first day of that financial year. (2) If any Member fails to pay its full contribution to the Administrative Budget within six months of the date on which the contribution is due, its voting rights, its right to be eligible for election to the Executive Board and its right to have its votes cast in the Executive Board shall be suspended until its contribution has been paid in full. However, unless the Council by a distributed two-thirds majority vote so decides, such Member shall not be deprived of any of its other rights nor relieved of any of its obligations under this Agreement. (3) Any Member whose voting rights have been suspended either under the provisions of paragraph (2) of this Article or under the provisions of Article 42 shall nevertheless remain responsible for the payment of its contribution.

Payment of Contributions. (1) Contributions to the Administrative Budget for each financial year shall be payable in freely convertible currency and shall become due on the first day of that financial year. (2) If any Member fails to pay its full contribution to the Administrative Budget within six months of the date on which the contribution is due, both its voting rights, its right to be eligible for election to rights in the Executive Board Council and its right to have its votes cast in the Executive Board shall be suspended until its such contribution has been paid in fullpaid. However, unless the Council by a distributed two-thirds majority vote so decides, such Member shall not be deprived of any of its other rights nor relieved of any of its obligations under this Agreement. (3) Any Member whose voting rights have been suspended either under the provisions of paragraph (2) of this Article or under the provisions of Article 42 37 shall nevertheless remain responsible for the payment of its contribution.

Payment of Contributions. (1) Contributions to the Administrative Budget for each financial year shall be payable in freely convertible currency and shall become due on the first day of that financial year. (2) If any Member fails to pay its full contribution to the Administrative Budget within six months of the date on which the contribution is due, both its voting rights, its right to be eligible for election to rights in the Executive Board Council and its right to have its votes cast in the Executive Board shall be suspended until its such contribution has been paid in fullpaid. However, unless the Council by a distributed two-two- thirds majority vote so decides, such Member shall not be deprived of any of its other rights nor relieved of any of its obligations under this Agreement. (3) Any Member whose voting rights have been suspended either under the provisions of paragraph (2) of this Article or under the provisions of Article 42 42, 45, 47, 55 or 58 shall nevertheless remain responsible for the payment of its contribution.