Common use of Special Reserve Clause in Contracts

Special Reserve. The amount of commissions received by the Bank under Sections 4 and 5 of this Article shall be set aside as a special reserve, which shall be kept available for meeting liabilities of the Bank in accordance with Section 7 of this Article. The special reserve shall he held in such liquid form, permitted under this Agreement, as the Executive Directors may decide.

Special Reserve. The amount of commissions received by the Bank under Sections sections 4 and 5 of this Article article shall be set aside as a special reserve, which shall be kept available used only for meeting liabilities of the Bank in accordance with Section section 7 of this Articlearticle. The special reserve shall he be held in such liquid form, permitted under this Agreement, as the Executive Directors may decide.. ECTION 7-METHODS op MEETING LIABILITIES OF THE BANK IN CASE OF DEFAULTS In cases of default on loans made, participated in, or guaranteed by the Bank: International Finance Agreements 43 SECOND SCHEDULE-continued

Special Reserve. The amount of commissions received by the Bank under Sections 4 and 5 of this Article shall be set aside as a special reserve, which shall be kept available for meeting liabilities of the Bank in accordance with Section 7 of this Article. The special reserve shall he be held in such liquid form, permitted under this Agreementagreement, as the Executive Directors may decide.