BWBV0001824
Geldig vanaf 13-03-2007
Artikel VII
Verdrag inzake het beheer van het Multilateraal Investeringsfonds II
Section 1. Contracts and Documents of the Bank on behalf of the Fund. In the contracts it signs in administering the resources of the Fund and carrying out its operations, and in all other Fund-related documents, the Bank shall indicate clearly that it is acting as the administrator of the Fund.
Section 2. Responsibilities of the Bank and the Donors. The earnings, profits or benefits arising from financing, investment and other operations carried out with the resources of the Fund shall in no case benefit the Bank. No financing, investment or operation of any kind carried out with the resources of the Fund shall involve the financial obligation or responsibility of the Bank to the Donors, and accordingly, any loss or deficit that may arise as a result of an operation shall not entitle the Donors to claim indemnification from the Bank, except in cases in which the Bank has departed from the written instructions of the Donors Committee or has failed to act with the same care as it takes in the management of its own resources.
Section 3. Adherence to this MIF II Administration Agreement. Any member of the Bank which is not listed on Schedule A of the MIF II Agreement may adhere to this MIF II Administration Agreement by signing it, after adhering to the MIF II Agreement pursuant to Article VI, Section 1 thereof. The Bank shall adhere to this MIF II Administration Agreement by signature by a duly authorized representative.
Section 4. Amendment. This MIF II Administration Agreement may be amended only by agreement between the Bank and the Donors Committee, which shall reach decision by a vote of at least two-thirds of the Donors representing three-quarters of the total voting power of the Donors. The approval of all Donors shall be required for an amendment to this Section or which involves any financial or other obligations of Donors.
Section 5. Settlement of Disputes. Any disputes arising under this MIF II Administration Agreement between the Bank and the Donors Committee, which are not resolved by consultation, shall be settled by arbitration pursuant to Annex A hereof. Any arbitral award shall be final and shall be implemented by a Donor, Donors or the Bank in accordance with its or their constitutional procedures or the Charter, respectively.
Section 6. Limitations on Liability. In the operations of the Fund, the financial liability of the Bank shall be limited to the resources and reserves (if any) of the Fund, and the liability of Donors as Donors shall be limited to the unpaid portion of their respective contributions that has become due and payable under the MIF II Agreement.
Section 7. Withdrawal of a Donor from the MIF II Agreement. On the date its notice of withdrawal has become effective under Article VI, Section 4(a) of the MIF II Agreement, a Donor submitting such a notice shall be deemed to have withdrawn from this MIF II Administration Agreement. Without prejudice to Article VI, Section 4(b) of the MIF II Agreement, the Bank, subject to the approval of the Donors Committee, shall enter into an arrangement with such a Donor for the settlement of their respective claims and obligations.
Section 2. Responsibilities of the Bank and the Donors. The earnings, profits or benefits arising from financing, investment and other operations carried out with the resources of the Fund shall in no case benefit the Bank. No financing, investment or operation of any kind carried out with the resources of the Fund shall involve the financial obligation or responsibility of the Bank to the Donors, and accordingly, any loss or deficit that may arise as a result of an operation shall not entitle the Donors to claim indemnification from the Bank, except in cases in which the Bank has departed from the written instructions of the Donors Committee or has failed to act with the same care as it takes in the management of its own resources.
Section 3. Adherence to this MIF II Administration Agreement. Any member of the Bank which is not listed on Schedule A of the MIF II Agreement may adhere to this MIF II Administration Agreement by signing it, after adhering to the MIF II Agreement pursuant to Article VI, Section 1 thereof. The Bank shall adhere to this MIF II Administration Agreement by signature by a duly authorized representative.
Section 4. Amendment. This MIF II Administration Agreement may be amended only by agreement between the Bank and the Donors Committee, which shall reach decision by a vote of at least two-thirds of the Donors representing three-quarters of the total voting power of the Donors. The approval of all Donors shall be required for an amendment to this Section or which involves any financial or other obligations of Donors.
Section 5. Settlement of Disputes. Any disputes arising under this MIF II Administration Agreement between the Bank and the Donors Committee, which are not resolved by consultation, shall be settled by arbitration pursuant to Annex A hereof. Any arbitral award shall be final and shall be implemented by a Donor, Donors or the Bank in accordance with its or their constitutional procedures or the Charter, respectively.
Section 6. Limitations on Liability. In the operations of the Fund, the financial liability of the Bank shall be limited to the resources and reserves (if any) of the Fund, and the liability of Donors as Donors shall be limited to the unpaid portion of their respective contributions that has become due and payable under the MIF II Agreement.
Section 7. Withdrawal of a Donor from the MIF II Agreement. On the date its notice of withdrawal has become effective under Article VI, Section 4(a) of the MIF II Agreement, a Donor submitting such a notice shall be deemed to have withdrawn from this MIF II Administration Agreement. Without prejudice to Article VI, Section 4(b) of the MIF II Agreement, the Bank, subject to the approval of the Donors Committee, shall enter into an arrangement with such a Donor for the settlement of their respective claims and obligations.
- Citeren als
- Art. VII
- Geldig vanaf
- Status
- Geldend recht
- Identificatie
- BWBV0001824
- Officiële bron
- wetten.overheid.nl