Common use of Withdrawal of Contributions Clause in Contracts

Withdrawal of Contributions. 1. The Government of the United States may withdraw the Present Market Value of its contributions to the Fund, and any undistributed Income therefrom: (a) in the event the Government of the United States determines, after consultation with the Government of the Republic of the Xxxxxxxx Islands that the Government of the Republic of the Xxxxxxxx Islands grossly failed to use the Income for the purposes described in Article 3 of this Agreement. (b) should the Government of the Xxxxxxxx Islands: (1) fail to fulfill its obligations under the separate agreement regarding mutual security concluded pursuant to sections 321 and 323 of the Compact, as amended; or, (2) take any action which the Government of the United States determines, after appropriate consultation with the Government of the Republic of the Xxxxxxxx Islands, to be incompatible with the Government of the United States’ responsibility for security and defense matters in or relating to the Republic of the Xxxxxxxx Islands, as set forth in such agreement(s). 2. Except as provided in paragraph 1 of this Article, any other Party may withdraw from this Agreement by depositing an instrument of withdrawal with the Depository. 3. In the event of withdrawal by a Party, no distribution of assets shall be made to that Party until that Party discharges its proportionate share of operating expenses, fees, and other administrative costs. Subsequently, the Present Market Value of the remaining Principal and Income attributable to that Party shall be paid back to that Party. 4. A Party that withdraws from this Agreement shall have no rights under this Agreement except as provided in this Article and Article 24, and no refund of its contributions shall be made to it except as a distribution of assets as provided under this Article and Article 22.

Withdrawal of Contributions. 1. The Government of the United States may withdraw the Present Market Value of its contributions to the Fund, and any undistributed Income therefrom: (a) in the event the Government of the United States determines, after consultation with the Government of the Republic Federated States of the Xxxxxxxx Islands Micronesia that the Government of the Republic Federated States of the Xxxxxxxx Islands Micronesia grossly failed to use the Income for the purposes described in Article 3 2 of this Agreement.; (b) should the Government of the Xxxxxxxx Islands: (1) Federated States of Micronesia fail to fulfill its obligations under the separate agreement regarding mutual security concluded pursuant to sections 321 and 323 of the Compact, as amended; or, (2) , or take any action which the Government of the United States determines, determines after appropriate consultation with the Government of the Republic Federated States of the Xxxxxxxx IslandsMicronesia, to be incompatible with the Government of the United States’ responsibility for security and defense matters in or relating to the Republic Federated States of the Xxxxxxxx IslandsMicronesia, as set forth in such agreement(s)agreement[s]. 2. Except as provided in paragraph 1 of this Article, any other Party may withdraw from this Agreement by depositing an instrument of withdrawal with the Depository. 3. In the event of withdrawal by a Party, no distribution of assets shall be made to that Party until that Party discharges its proportionate share of operating expenses, fees, and other administrative costs. Subsequently, the Present Market Value of the remaining Principal and Income attributable to that Party Party, shall be paid back to that Party. 4. A Party that withdraws from this Agreement shall have no rights under this Agreement except as provided in this Article and Article 24, 23 and no refund of its contributions shall be made to it except as a distribution of assets as provided under this Article and Article 2221.