FE Account definition
Examples of FE Account in a sentence
Unless the Association shall otherwise agree, no further deposit by the Association into the FE Account shall be made until the Borrower has provided such evidence or made such deposit or refund, as the case may be.
Amounts deposited by the Association into the FE Account shall be used exclusively to make payments for Eligible Expenditures.
Upon such notification, the Association shall determine, in its sole discretion, whether further deposits into the FE Account may be made and what procedures should be followed for making such deposits, and shall notify the Borrower of its determination.
After the Association has received evidence satisfactory to it that the FE Account has been opened in accordance with Section 2.02 (b) of this Agreement, withdrawals from the Financing Account under Category (1) set forth in the table in paragraph 1 of this Schedule shall be deposited by the Association into the FE Account in accordance with the provisions of this Part B.
After the Association has received evidence satisfactory to it that the FE Account has been opened in accordance with Section 2.02 (b) of this Agreement, withdrawals from the Credit Account under Category (1) set forth in the table in paragraph 1 of this Schedule shall be deposited by the Association into the FE Account in accordance with the provisions of this Part B.
For each payment made by the Borrower out of the FE Account using Credit proceeds, the Borrower shall, at such time as the Association shall reasonably request, furnish to the Association such documents and other evidence showing that such payment was made exclusively for Eligible Expenditures.
Deposits into, and payments out of, the FE Account shall be made in accordance with the provisions of Part B of Schedule 1 to this Agreement.
The Audit report will also include the audit of the FE Account and the related local currency account.
For every trimester disbursement thereafter, the Pooling Donors will replenish the Foreign Exchange Account (FE Account) based on Financial Monitoring Reports (FMRs) as defined in para 49 of this arrangement showing funds utilized during the trimester, the cash balance position of the FE Account, and the cash forecast for the remaining fiscal year.
The Association shall not be required to make further deposits into the FE Account in accordance with the provisions of Part B.1 of this Schedule if, at any time, the Association shall have notified the Borrower of its intention to suspend in whole or in part the right of the Borrower to make withdrawals from the Credit Account pursuant to Section 6.02 of the General Conditions.