Examples of Readiness Fund in a sentence
The Bank shall be the Trustee of the Readiness Fund and the Trustee of the Carbon Fund.
For the members of the Participants Committee who are from a REDD Country Participant, funding from the Readiness Fund may be made available for covering the expenses of such members’ travel and accommodation incurred in attending the meetings of the Participants Committee.
Both the Readiness Fund and the Carbon Fund shall be denominated in United States Dollars (“ Holding Currency”).
Provided, in both subparagraphs (a) and (b) above, the Trustee will continue to serve as trustee of the Readiness Fund and/or the Carbon Fund, as the case may be, only if the Board of Executive Directors have expressly agreed to the extension and to the terms of such extension.
An Eligible Donor may participate in the Readiness Fund through entering into a Donor Participation Agreement.
On or before termination of the Facility, the Participants may decide to continue the business of the Facility by unanimous vote of all the Participants, provided that, the Trustee will continue to serve as trustee of the Readiness Fund and/or the Carbon Fund, only if the Board of Executive Directors have expressly agreed to the extension and to the terms of such extension.
The powers and duties of the Trustee of the Readiness Fund and the Trustee of the Carbon Fund shall be subject to this Charter, the Participation Agreements and the relevant World Bank’s Operational Policies and Procedures.
Section 20 (b) shall apply to the Trustee of the Readiness Fund and the Trustee of the Carbon Fund except that indemnification of each Trustee is limited to the Fund Property of the respective Fund.
An Operational Date for the Readiness Fund being the date on which the Trustee of the Readiness Fund has signed Donor Participation Agreements, representing a sum of at least US$20 million.
In the case of the Readiness Fund, the Trustee of the Readiness Fund shall, upon termination of the Readiness Fund, return to the Donor Participants on a pro rata basis any remaining balance of the Contributions of the Donor Participants that that is not committed by the Trustee of the Readiness Fund or the IBRD, including without limitation, under Grant Agreements and/or any other agreement with any consultant or other third parties for the purpose of the Readiness Fund.