OPEC Fund definition

OPEC Fund means the OPEC Fund for International Development established by the Member States of the Organization of the Petroleum Exporting Countries (OPEC) by virtue of the Agreement signed in Paris on January 28, 1976, as amended.
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OPEC Fund means the Organization of Petroleum Exporting Countries Fund for International Development;
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OPEC Fund means the Organization of Petroleum Exporting Countries Fund for International Development; "Process for the Definition and Review of Capital Projects" means the policy document adopted by the Borrower dated March 26, 1997, which describes the process for approving and carrying out capital investment projects in the health sector under the Program; as may be amended from time to time with the prior agreement of the Association;
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Examples of OPEC Fund in a sentence

  • The Borrower submits the withdrawal application as an original, duly signed and accompanied by complete supporting documents to the OPEC Fund.

  • The OPEC Fund declares a Loan Agreement effective when the Borrower has fulfilled the conditions of effectiveness as specified in the Loan Agreement to the OPEC Fund’s satisfaction.

  • Holdings may not have all state, local and foreign licenses, permits or other approvals required for the operation of its business as now being conducted.

  • The actual amount paid out by the OPEC Fund can be in another currency (as explained in 3.8), but the withdrawal of loan proceeds would still be the equivalent amount in the loan currency.

  • There are separate requirements for the initial disbursement to the special account and subsequent replenishments.Special commitmentThe OPEC Fund may provide, at the request of the Borrower, an irrevocable or conditional special commitment to reimburse a financial institution for payments it makes to a supplier against a letter of credit.

  • The loan account refers to the account that is opened by the OPEC Fund in its accounting system in the name of the Borrower to which the amount of the loan is credited.

  • Under this method, the OPEC Fund directly pays a designated beneficiary at the request of the Borrower.

  • For all disbursement methods, the OPEC Fund disburses loan proceeds in accordance with properly authorized instructions from the Borrower.

  • The provisions of the Loan Agreement remain in full force and effect, except as otherwise agreed to by the OPEC Fund.Borrowers may also, by notice to the OPEC Fund, cancel any amount of the loan balance that has not been withdrawn.

  • This implies that the Borrower’s right to make further withdrawals from the loan account is suspended or terminated.A loan may be cancelled or suspended by the OPEC Fund if the Borrower is in arrears with the payment of principal installments, interest or service charges.


More Definitions of OPEC Fund

OPEC Fund means OPEC Fund for International Development.
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Related to OPEC Fund

  • Revenue Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Program fund means the program fund created under Section 53B-8a-107,

  • Fund means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business.

  • Special Fund means any fund other than the city general fund.

  • Loan Fund means the special fund created by the RECIPIENT for the repayment of the principal of and interest on the loan. “Loan Security” means the mechanism by which the RECIPIENT pledges to repay the loan.

  • Mutual Funds means (i) all open-end mutual funds; and (ii) similar pooled investment vehicles established in non-U.S. jurisdictions, such as registered investment trusts in Japan. For purposes of the Code, Mutual Fund does not include shares of open-end money market mutual funds (unless otherwise advised by Compliance).

  • Surplus Fund means the fund by that name established pursuant to the Second Resolution.