Funds for Local Expenditures. Funds required by Company and foreign subcontractors to meet local expenditures shall be imported into Namibia in freely convertible currencies, transferred to local banks and converted to Namibia currency. If it or they so desire, Company and/or its foreign subcontractors may borrow Namibia currency from local banks in order to meet local expenditures.
Appears in 5 contracts
Samples: Petroleum Agreement (Elephant Oil Corp.), Petroleum Agreement, Petroleum Agreement
