EFSI Account definition
EFSI Account means an account, opened by the Bank in its books for the purposes of collecting the EU revenues resulting from EFSI guaranteed operations and recovered amounts and to the extent of the available balance, for the payment of calls under the EU guarantee and other sums as set out in the Agreement on the Management of the European Fund for Strategic Investments and on the EU Guarantee;
Examples of EFSI Account in a sentence
The EU, for these purposes, may instruct the Bank to debit an amount corresponding to the EU contribution from the EFSI Account.
EIB shall indicate in the demand: (i) the total amount of the call under the EU Guarantee; (ii) the amount to be debited from the EFSI Account; and (iii) the remainder.
If the balance is less, EIB is authorised to deduct that part of the amount demanded from the EFSI Account.
Amounts due to the EU in respect of Recovered Amounts, Recalled Amounts and reversals of Value Adjustments shall be paid to the EFSI Account on a date falling no later than 15 Business Days after the end of the quarter to which they relate.