Valuation of Currencies. (a) The amount of a currency, other than the U.S. dollar, paid for purposes of Section 3(a), (b) or (d) of Article II of this Chapter or Section 3 of this Article to discharge a U.S. dollar-denominated obligation shall be that amount which will yield to the Bank the U.S. dollar amount of such obligation. (b) Whenever it shall become necessary under this Chapter to value any currency in terms of another currency, such valuation shall be determined by the Bank after consultation, if necessary, with the International Monetary Fund.
Appears in 2 contracts
Samples: Agreement Concerning the Establishment of a North American Development Bank, Agreement Concerning the Establishment of a North American Development Bank
Valuation of Currencies. (a) The amount of a currency, currency other than the U.S. dollar, dollar paid for purposes of Section 3(a), (b) or (d) of Article II 11 of this Chapter or Section 3 of this Article to discharge a U.S. dollar-denominated obligation shall be that amount which will yield to the Bank the U.S. dollar amount of such obligation.
(b) Whenever it shall become necessary under this Chapter to value any currency in terms of another currency, such valuation shall be determined by the Bank after consultation, if necessary, with the International Monetary Fund.
Appears in 1 contract
Samples: Protocol of Amendment
Valuation of Currencies. (a) The amount of a currency, currency other than the U.S. dollar, dollar paid for purposes of Section 3(a), (b) or (d) of Article II 11 of this Chapter or Section 3 of this Article to discharge a U.S. dollar-dollar- denominated obligation shall be that amount which will yield to the Bank the U.S. dollar amount of such obligation.
(b) Whenever it shall become necessary under this Chapter to value any currency in terms of another currency, such valuation shall be determined by the Bank after consultation, if necessary, with the International Monetary Fund.
Appears in 1 contract
Samples: Protocol of Amendment
