TRANSFER OF FUNDS BY THE BANK. 2.1. Promptly following the approval of a funding request by the Trust Fund Committee (the “Allocation”), IFC shall submit to the Bank one or more cash transfer request(s) (each a “Cash Transfer Request”), requesting the Bank to transfer an amount of Allocation to IFC. Each Cash Transfer Request shall: (i) be substantially in the form attached hereto as Annex A (Form of Cash Transfer Request), (ii) contain all necessary information therein; and (iii) be signed by an Authorized Signatory(-ies) (as defined below). 2.2. Upon receipt of a complete Cash Transfer Request from IFC, and subject to availability of resources in the Trust Fund, the Bank shall transfer the amount requested based on the Allocation in United States dollars from the Trust Fund to IFC. 2.3. Transfer of Trust Fund funds from the Bank to IFC under this Section 2 shall be made to the depository account designated by IFC in the relevant Cash Transfer Request in United States dollars unless otherwise agreed between the Bank and IFC. The Bank shall notify IFC of each such transfer. 2.4. Upon transfer of funds, the Bank shall have no responsibility, fiduciary or otherwise, for the use of Trust Fund funds transferred and activities carried out therewith, nor shall it have any responsibility for collection of any funds due to IFC from any recipient of Trust Fund funds or any other entities. IFC shall be responsible for reporting to the Trust Fund Committee on the use of Trust Fund funds transferred to it (including on any collection of funds from any recipient of Trust Fund funds or any other entities) and its activities carried out therewith as set out in paragraph 6.2 below. The Bank does not assume any responsibility or liability towards any third party as a result of the use by IFC of, or implementation of any activities funded with, the Trust Fund funds transferred to IFC.
Appears in 1 contract
Samples: Transfer Agreement
TRANSFER OF FUNDS BY THE BANK. 2.1. Promptly following the approval effectiveness of a funding request by the Trust Fund Committee (the “Allocation”)this Agreement, IFC EBRD shall submit to the Bank one or more a cash transfer request(s) request (each a the “Cash Transfer Request”), requesting for the Bank to transfer an the allocation approved by the Facility Executive Board (the “Allocation”) in the amount of Allocation two hundred fifty thousand United States dollars (US$ 250,000) to IFCEBRD. Each The Cash Transfer Request shall: (i) be substantially in the form attached hereto as Annex A (Form of Cash Transfer Request), ; (ii) contain all necessary information therein; and (iii) be signed by an Authorized Signatory(-ies) Signatory (as defined below).
2.2. Upon receipt of a the complete Cash Transfer Request from IFCEBRD, and subject to availability of resources in the Trust Fund, the Bank shall transfer the amount requested based on of the Allocation in United States dollars from the Trust Fund to IFCEBRD in one lump sum.
2.3. Transfer of Trust Fund funds from the Bank to IFC EBRD under this Section 2 shall be made to the depository account designated by IFC EBRD in the relevant Cash Transfer Request in United States dollars unless otherwise agreed between by the Bank and IFC. The Bank shall notify IFC of each such transferBank.
2.4. Upon transfer of funds, the Bank shall have no responsibility, fiduciary or otherwise, for the use of Trust Fund funds transferred and activities carried out therewith, nor shall it have any responsibility for collection of any funds due to IFC EBRD from any recipient of Trust Fund funds or any other entities. IFC EBRD shall be responsible for reporting to the Trust Fund Committee Facility Executive Board on the use of Trust Fund funds transferred to it (including on any collection of funds from any recipient of Trust Fund funds or any other entities) and its activities carried out therewith as set out in paragraph 6.2 5.2 and Section 6 below. The Bank does not assume any responsibility or liability towards any third party as a result of the use by IFC EBRD of, or implementation of any activities funded with, the Trust Fund funds transferred to IFCEBRD.
Appears in 1 contract
Samples: Transfer Agreement
TRANSFER OF FUNDS BY THE BANK. 2.1. Promptly following the approval of a funding request by the Trust Fund Committee (the “Allocation”), IFC WHO shall submit to the Bank one or more cash transfer request(s) (each a “Cash Transfer Request”), requesting the Bank to transfer an amount of Allocation to IFCWHO. Each Cash Transfer Request shall: (i) be substantially in the form attached hereto as Annex A (Form of Cash Transfer Request), (ii) contain all necessary information therein; and (iii) be signed by an Authorized Signatory(-ies) (as defined below).
2.2. Upon receipt of a complete Cash Transfer Request from IFCWHO, and subject to availability of resources in the Trust Fund, the Bank shall transfer the amount requested based on the Allocation in United States dollars from the Trust Fund to IFCWHO.
2.3. Transfer of Trust Fund funds from the Bank to IFC WHO under this Section 2 shall be made to the depository account designated by IFC WHO in the relevant Cash Transfer Request in United States dollars unless otherwise agreed between the Bank and IFCWHO. The Bank shall notify IFC WHO of each such transfer.
2.4. Upon transfer of funds, the Bank shall have no responsibility, fiduciary or otherwise, for the use of Trust Fund funds transferred and activities carried out therewith, nor shall it have any responsibility for collection of any funds due to IFC WHO from any recipient of Trust Fund funds or any other entities. IFC WHO shall be responsible for reporting to the Trust Fund Committee on the use of Trust Fund funds transferred to it (including including, as applicable, on any collection of funds from any recipient of Trust Fund funds or any other entities) and its activities carried out therewith as set out in paragraph 6.2 5.2 below. The Bank does not assume any responsibility or liability towards any third party as a result of the use by IFC WHO of, or implementation of any activities funded with, the Trust Fund funds transferred to IFCWHO.
Appears in 1 contract
Samples: Transfer Agreement
TRANSFER OF FUNDS BY THE BANK. 2.11.1. Promptly following the approval of a funding request by the Trust Fund Steering Committee (the “Allocation”), IFC FAO shall submit to the Bank one or more cash transfer request(s) (each a “Cash Transfer Request”), requesting the Bank to transfer an amount of Allocation to IFCFAO. Each Cash Transfer Request shall: (i) be substantially in the form attached hereto as Annex A (Form of Cash Transfer Request), (ii) contain all necessary information therein; and (iii) be signed by an Authorized Signatory(-ies) (as defined below).
2.21.2. Upon receipt of a complete Cash Transfer Request from IFCFAO, and subject to availability of resources in the Trust Fund, the Bank shall transfer the amount requested based on the Allocation in United States dollars from the Trust Fund to IFCFAO.
2.31.3. Transfer of Trust Fund funds from the Bank to IFC FAO under this Section 2 section 1 shall be made to the depository account designated by IFC FAO in the relevant Cash Transfer Request in United States dollars unless otherwise agreed between the Bank and IFCFAO. The Bank shall notify IFC FAO of each such transfer.
2.41.4. Upon transfer of funds, the Bank shall have no responsibility, fiduciary or otherwise, for the use of Trust Fund funds transferred and activities carried out therewith, nor shall it have any responsibility for collection of any funds due to IFC FAO from any recipient of Trust Fund funds or any other entities. IFC FAO shall be responsible for reporting to the Trust Fund Steering Committee on the use of Trust Fund funds transferred to it (including including, as applicable, on any collection of funds from any recipient of Trust Fund funds or any other entities) entities and its activities carried out therewith as set out in paragraph 6.2 4.2 below). The Bank does not assume any responsibility or liability towards any third party as a result of the use by IFC FAO of, or implementation of any activities funded with, the Trust Fund funds transferred to IFCFAO.
Appears in 1 contract
Samples: Transfer Agreement
TRANSFER OF FUNDS BY THE BANK. 2.1. Promptly following the approval effectiveness of a funding request by the Trust Fund Committee (the “Allocation”)this Agreement, IFC EBRD shall submit to the Bank one or more a cash transfer request(s) request (each a the “Cash Transfer Request”), requesting for the Bank to transfer an the allocation approved by the Facility Executive Board (the “Allocation”) in the amount of Allocation sixty thousand United States dollars (US$ 60,000) to IFCEBRD. Each The Cash Transfer Request shall: (i) be substantially in the form attached hereto as Annex A (Form of Cash Transfer Request), ; (ii) contain all necessary information therein; and (iii) be signed by an Authorized Signatory(-ies) Signatory (as defined below).
2.2. Upon receipt of a the complete Cash Transfer Request from IFCEBRD, and subject to availability of resources in the Trust Fund, the Bank shall transfer the amount requested based on of the Allocation in United States dollars from the Trust Fund to IFCEBRD in one lump sum.
2.3. Transfer of Trust Fund funds from the Bank to IFC EBRD under this Section 2 shall be made to the depository account designated by IFC EBRD in the relevant Cash Transfer Request in United States dollars unless otherwise agreed between by the Bank and IFC. The Bank shall notify IFC of each such transferBank.
2.4. Upon transfer of funds, the Bank shall have no responsibility, fiduciary or otherwise, for the use of Trust Fund funds transferred and activities carried out therewith, nor shall it have any responsibility for collection of any funds due to IFC EBRD from any recipient of Trust Fund funds or any other entities. IFC EBRD shall be responsible for reporting to the Trust Fund Committee Facility Executive Board on the use of Trust Fund funds transferred to it (including on any collection of funds from any recipient of Trust Fund funds or any other entities) and its activities carried out therewith as set out in paragraph 6.2 5.2 and Section 6 below. The Bank does not assume any responsibility or liability towards any third party as a result of the use by IFC EBRD of, or implementation of any activities funded with, the Trust Fund funds transferred to IFCEBRD.
Appears in 1 contract
Samples: Transfer Agreement
TRANSFER OF FUNDS BY THE BANK. 2.1. Promptly following the approval effectiveness of a funding request by the Trust Fund Committee (the “Allocation”)this Agreement, IFC WHO shall submit to the Bank one or more a cash transfer request(s) request (each a the “Cash Transfer Request”), requesting for the Bank to transfer an the allocation approved by the Facility Executive Board (the “Allocation”) in the amount of Allocation one hundred ninety thousand United States dollars (US$190,000) to IFCWHO. Each The Cash Transfer Request shall: (i) be substantially in the form attached hereto as Annex A (Form of Cash Transfer Request), ; (ii) contain all necessary information therein; and (iii) be signed by an Authorized Signatory(-ies) Signatory (as defined below).
2.2. Upon receipt of a the complete Cash Transfer Request from IFCWHO, and subject to availability of resources in the Trust Fund, the Bank shall transfer the amount requested based on of the Allocation in United States dollars from the Trust Fund to IFCWHO in one lump sum.
2.3. Transfer of Trust Fund funds from the Bank to IFC WHO under this Section 2 shall be made to the depository account designated by IFC WHO in the relevant Cash Transfer Request in United States dollars unless otherwise agreed between by the Bank and IFC. The Bank shall notify IFC of each such transferBank.
2.4. Upon transfer of funds, the Bank shall have no responsibility, fiduciary or otherwise, for the use of Trust Fund funds transferred and activities carried out therewith, nor shall it have any responsibility for collection of any funds due to IFC WHO from any recipient of Trust Fund funds or any other entities. IFC WHO shall be responsible for reporting to the Trust Fund Committee Facility Executive Board on the use of Trust Fund funds transferred to it (including on any collection of funds from any recipient of Trust Fund funds or any other entities) and its activities carried out therewith as set out in paragraph 6.2 5.2 and Section 6 below. The Bank does not assume any responsibility or liability towards any third party as a result of the use by IFC WHO of, or implementation of any activities funded with, the Trust Fund funds transferred to IFCWHO.
Appears in 1 contract
Samples: Transfer Agreement