Common use of Subscription of Shares Clause in Contracts

Subscription of Shares. a) Each member shall subscribe to shares of the capital stock of the Bank. The number of shares to be initially subscribed by the founding members shall be those set forth in Attachment 1 of this Agreement, which specifies the obligation of each member as to both paid-in and callable capital. The number of shares to be initially subscribed by other members shall be determined by the Board of Governors by special majority on the occasion of the acceptance of their accession.

Subscription of Shares. a) a. Each member shall subscribe to shares of the capital stock of the Bank. The number of shares to be initially subscribed by the founding members shall be those set forth in Attachment 1 of this Agreement, which specifies the obligation of each member as to both paid-in and callable capital. The number of shares to be initially subscribed by other members shall be determined by the Board of Governors by special majority on the occasion of the acceptance of their accession.

Subscription of Shares. a) 1. Each member shall initially subscribe to shares of the capital stock of the Bank. The initial subscription of each member shall consist of an equal number of paid-up and callable shares. The initial number of shares to be initially subscribed by the founding members a State which acquires membership in accordance with paragraph 1 of article 64 of this Agreement shall be those that set forth in Attachment 1 of this respect in annex A to this Agreement, which specifies the obligation of each member as to both paid-in and callable capitalshall form an integral part thereof. The initial number of shares to be initially subscribed by other members shall be determined by the Board of Governors by special majority on the occasion of the acceptance of their accessionGovernors.