Common use of AMOUNT OF SWAP Clause in Contracts

AMOUNT OF SWAP. The maximum total outstanding amount of United States dollars provided by each participant under the Arrangement shall be US$ 40 million. In principle, the amount of swap requested by a participant shall be provided in equal shares by the other participants. However, if because of exceptional financial circumstances a participant is not in a position to provide its full share or has to refrain from swapping, the shortfall shall be met as far as possible by the other participants, subject to the provisions of the first paragraph of this Article. The maximum outstanding amount of United States dollars received by any participant under the Arrangement shall not, at any point in time exceed US$ 80 million (on the basis of a gearing ratio of one-is-to-two (1:2)". ARTICLE IV The Arrangement shall be renewed and remain in force for a period of five years from the date this Fourth Supplementary Agreement comes into force. However, if a central bank, monetary authority or its equivalent body of an ASEAN member country has confirmed its acceptance of this Fourth Supplementary Agreement, the Arrangement shall remain in force for an additional period of one year for each new member. ARTICLE V This Fourth Supplementary Agreement shall come into force on August 5, 1987.

AMOUNT OF SWAP. The maximum total outstanding amount of United States dollars provided by each participant under the Arrangement shall be US$ 40 million. In principle, the amount of swap requested by a participant shall be provided in equal shares by the other participants. However, if because of exceptional financial circumstances a participant is not in a position to provide its full share or has to refrain from swapping, the shortfall shall be met as far as possible by the other participants, subject to the provisions of the first paragraph of this Article. The maximum outstanding amount of United States dollars received by any participant under the Arrangement shall not, at any point in time exceed US$ 80 million (on the basis of a gearing ratio of one-is-to-two (1:2)". ARTICLE Article IV The Arrangement shall be renewed and remain in force for a period of five years from the date this Fourth Supplementary Agreement comes into force. However, if a central bank, monetary authority or its equivalent body of an ASEAN member country has confirmed its acceptance of this Fourth Supplementary Agreement, the Arrangement shall remain in force for an additional period of one year for each new member. ARTICLE Article V This Fourth Supplementary Agreement shall come into force on August 5, 1987.