Common use of Use of Pakistan Bank Accounts; Exceptions Clause in Contracts

Use of Pakistan Bank Accounts; Exceptions. All of the Seller’s transactions related to the Project that require Foreign Currency, including debt servicing and repatriation of earnings and dividends, will be initiated through bank accounts in Pakistan; provided, however, that Foreign Currency provided by foreign Lenders and Foreign Investors, liquidated damages in Foreign Currency paid by foreign Contractors or vendors, proceeds of insurance and reinsurance by foreign insurers and any other Foreign Currency from foreign sources that is used to pay foreign Contractors, vendors, insurers, reinsurers, Investors or Lenders may be paid directly to such Persons and need not be conducted through bank accounts in Pakistan, as provided in the Foreign Exchange Manual of the State Bank of Pakistan, as in effect on the date hereof.