Artikel II

Section 1. Instruments of Acceptance and Contribution. a) As soon as reasonably possible after depositing the instrument indicating that it has ratified, accepted, or approved this MIF II Agreement (an ‘‘Instrument of Acceptance’’), but no later than 60 days thereafter, each Prospective Donor shall deposit with the Bank an instrument in which it agrees to pay to the Fund the amount set forth next to its name in Schedule A (an ‘‘Instrument of Contribution’’), whereupon a Prospective Donor shall become a ‘‘Donor’’ under this MIF II Agreement.
b) A Donor shall, pursuant to the Instrument of Contribution, agree to pay its contribution in six equal annual installments (an ‘‘Unqualified Contribution’’). Donors which have deposited an Instrument of Contribution prior to, on, or within 60 days after the date this MIF II Agreement enters into force pursuant to Article V, Section 1 (the ‘‘MIF II Effective Date’’) may postpone payment of the first installment until the 60th day after the MIF II Effective Date. Any Donor that deposits an Instrument of Contribution more than 60 days after the MIF II Effective Date shall pay the first installment, and any other subsequent installment which has become due, on the date of such deposit. Each Donor shall pay each subsequent installment in accordance with a schedule agreed by the Donors.
c) Notwithstanding the provisions of paragraph (b) of this Section regarding Unqualified Contributions, as an exceptional case, a Donor may provide in its Instrument of Contribution that payment of all installments is subject to subsequent budgetary appropriations, and in which it undertakes to seek to obtain the necessary appropriations to pay the full amount of each installment by the payment dates referred to in paragraph (b) (a ‘‘Qualified Contribution’’). Payment of an installment due after any such date shall be made within 30 days after the requisite appropriations have been obtained.
d) If any Donor which has made a Qualified Contribution has not obtained the appropriations to make payment in full of any installment by the dates indicated in paragraph (b), then any Donor which has paid the corresponding installment on time and in full, may, after consultation with the committee established under Article IV (the ‘‘Donors Committee’’), direct the Bank in writing to restrict commitments against that installment. That restriction shall not exceed the percentage which the unpaid portion of the installment, to be paid by the Donor which has made the Qualified Contribution, bears to the entire amount of the installment to be paid by that Donor, and shall be in effect only for the time that unpaid portion remains unpaid.
e) Any member country of the Bank which does not appear on Schedule A which becomes a Donor in accordance with Article VI, Section 1, or any Donor that, subject to approval by the Donors Committee, wishes to increase its contribution beyond the amount set out in Schedule A, shall make a contribution to the Fund by depositing an Instrument of Contribution in which it agrees to pay an amount and on dates and on conditions approved by the Donors Committee; provided that the first installment paid by a Donor which does not appear on Schedule A shall be in an amount sufficient to bring such Donor current in the payment of installments, and thereafter such Donor’s payment of installments shall continue in accordance with the schedule contemplated in paragraph (b) of this Section.
f) The Fund shall not be increased beyond the total of the amounts set out in Schedule A plus the amounts set out in Instruments of Contribution deposited pursuant to paragraph (e).
Section 2. Payments. a) Payments due under this Article shall be made in any freely convertible currency determined by the Donors Committee, or in non-negotiable non-interest-bearing promissory notes (or similar securities) denominated in such currency and payable on demand in accordance with criteria and procedures to be established by the Donors Committee to meet the operational commitments of the Fund. Payments to the Fund in a freely convertible currency, which are transferred from a trust fund of a Donor, shall be deemed to be paid towards the amount due from that Donor when transferred.
b) Such payments shall be made to an account or accounts established specially for that purpose by the Bank, and such notes shall be deposited in that account or with the Bank, as the Bank shall determine.
c) To determine amounts due for each Donor paying in a convertible currency other than the United States dollar, the U.S. dollar amount opposite its name in Schedule A shall be converted into the currency of payment at the IMF representative exchange rate for that currency calculated by averaging those rates on a daily basis during the six-month period ending on December 31, 2004.