Common use of Temporary Suspension of Operations Clause in Contracts

Temporary Suspension of Operations. Article 33 In an emergency, the Board of Directors may temporarily suspend the provision of new credit and guarantees, the issuance of securities, and equity investments until the Board of Governors has reviewed the current circumstances and undertaken appropriate actions.

Temporary Suspension of Operations. Article 33 In 40 provides that in the case of an emergency, the Board of Directors may suspend temporarily suspend the provision operations in respect of new credit and loans, guarantees, the issuance of securitiesunderwriting, technical assistance and equity investments until pending an opportunity for further consideration and action by the Board of Governors has reviewed the current circumstances and undertaken appropriate actionsGovernors.