Commingling, Exchange and Investment of the Contributions Clause Samples
The "Commingling, Exchange and Investment of the Contributions" clause authorizes the pooling and management of contributed funds or assets by the responsible party, such as a trustee or plan administrator. In practice, this means that individual contributions may be combined with those of others, exchanged for different forms of investment, or invested collectively in various financial instruments. This approach facilitates efficient management and diversification of assets, ultimately aiming to maximize returns and reduce administrative complexity for all contributors.
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Commingling, Exchange and Investment of the Contributions. 3.1 The Contributions shall be accounted for as a single trust fund and kept separate and apart from the funds of the World Bank. The Contributions may be commingled with other trust fund assets maintained by the World Bank.
3.2 The Contributions may be freely exchanged by the Trustee into other currencies as may facilitate their transfer.
3.3 The World Bank shall invest and reinvest the funds in the CGIAR Fund pending their transfer in accordance with the World Bank’s applicable policies and procedures for the investment of trust funds administered by the World Bank. The Trustee shall credit all income from such investment to Window 1 of the CGIAR Fund.
Commingling, Exchange and Investment of the Contributions. 2.1. The Contributions shall be accounted for as a single trust fund and shall be kept separate and apart from the funds of the Bank. The Contributions may be commingled with other trust fund assets maintained by the Bank.
2.2. The Contributions may be freely exchanged by the Bank into other currencies as may facilitate their disbursement.
2.3. The Bank shall invest and reinvest the Contributions pending their disbursement in accordance with the Bank’s policies and procedures for the investment of trust funds administered by the Bank. The Bank shall credit all income from such investment to the Trust Fund to be used for the same purposes as the Contributions.
Commingling, Exchange and Investment of the Contributions. 2.1. The Contribution funds will be accounted for as a single trust fund and will be kept separate and apart from the funds of the Bank. The Contribution funds may be commingled with other trust fund assets maintained by the Bank.
2.2. The Contribution funds may be freely exchanged by the Bank into other currencies as may facilitate their disbursement.
Commingling, Exchange and Investment of the Contributions. 3.1 The Contributions shall be accounted for as a single trust fund and shall be kept separate and apart from the funds of the Trustee. The Contributions may be commingled with other trust fund assets maintained by the Trustee.
3.2 The Contributions may be freely exchanged by the Trustee into other currencies as may facilitate their disbursement.
3.3 The Trustee shall invest and reinvest the Contributions pending their disbursement in accordance with the Trustee’s policies and procedures for the investment of trust funds administered by the Trustee. The Trustee shall credit all income from such investment to the Trust Fund to be used for the same purposes as the Contributions.
Commingling, Exchange and Investment of the Contributions. 4.1. The Contribution funds in the Trust Fund shall be accounted for as a single trust fund and shall be kept separate and apart from the funds of the IBRD. The Contribution funds may be commingled with other trust fund assets maintained by the IBRD.
4.2. The Contribution funds may be freely exchanged by the Trustee into other currencies as may facilitate their disbursement.
4.3. The Trustee shall invest the Trust Fund funds including the Contributions pending their disbursement in accordance with the IBRD’s policies and procedures for the investment of trust funds administered by the IBRD. The Trustee shall credit all income from such investment to the Trust Fund to be used for the purposes of the Trust Fund.
Commingling, Exchange and Investment of the Contributions. 3.1. The Contribution funds in the Trust Fund shall be accounted for as a single trust fund and shall be kept separate and apart from the funds of the IBRD. The Contribution funds shall be held in the United States Dollars. The Contribution funds may be commingled with other trust fund assets maintained by the IBRD.
3.2. The Contribution funds may be freely exchanged by the Trustee into other currencies as may facilitate their administration and disbursement of funds.
3.3. The Trustee shall invest and reinvest the Contribution funds pending their disbursement in accordance with the Trustee’s policies and procedures for the investment of trust funds administered by the Trustee. The Trustee shall credit all income from such investment to the Trust Fund to be used for the same purposes as the Contribution funds.
Commingling, Exchange and Investment of the Contributions. 2.1. The Contribution funds will be accounted for as a single trust fund and will be kept separate and apart from the funds of ▇▇▇. The Contribution funds may be commingled with other trust fund assets maintained by ▇▇▇.
2.2. The Contribution funds may be freely exchanged by ▇▇▇ into other currencies as may facilitate their disbursement.
2.3. ▇▇▇ will invest and reinvest the Contribution funds pending their disbursement in accordance with ▇▇▇’s policies and procedures for the investment of trust funds administered by ▇▇▇. ▇▇▇ will credit all income from such investment to the trust fund established under this Arrangement to be used for the same purposes as the Contribution funds.
Commingling, Exchange and Investment of the Contributions. 4.1. The Contribution funds in the Trust Fund shall be accounted for as a single trust fund and shall be kept separate and apart from the funds of IBRD. The Contribution funds may be commingled with other trust fund assets maintained by IBRD.
4.2. The Contribution funds may be freely exchanged by the Trustee into other currencies as may facilitate their transfer.
4.3. The Contributor agrees to pay its Contribution in the currency stated in its respective Contribution Agreement or in the Holding Currency. In the event that Contributions are received in a currency other than the Holding Currency, promptly upon the receipt of such amounts, the Trustee shall convert such amounts into the Holding Currency at the exchange rate obtained by the Trustee on the date of the conversion. Where Contributions prove to be insufficient to complete Activities as a result of an exchange rate fluctuation, neither the Trustee nor the Contributor shall bear any responsibility for providing any additional financing.
4.4. The Trustee shall invest the Trust Fund funds, including the Contributions, pending their transfer, in accordance with the Trustee’s policies and procedures for the investment of trust funds administered by the Trustee. The Trustee shall credit all income from such investment to the Trust Fund to be used for the purposes of the Trust Fund.
Commingling, Exchange and Investment of the Contributions. 4.1. The Contribution funds in the Trust Fund shall be accounted for as a single trust fund and shall be kept separate and apart from the funds of the Bank. The Contribution funds may be commingled with other trust fund assets maintained by the Bank.
4.2. The Contribution funds may be freely exchanged by the Trustee into other currencies as may facilitate their transfer.
4.3. The Contributor agrees to pay its Contribution in the currency stated in its respective Contribution Agreement/Arrangement or in a Holding Currency. In the event that Contributions are received in a currency other than a Holding Currency, promptly upon the receipt of such amounts, the Trustee shall, in accordance with procedures mutually accepted by the Trustee and the Secretariat, convert such amounts into a Holding Currency at the exchange rate obtained by the Trustee on the date of the conversion. Where Contributions prove to be insufficient to complete Activities as a result of an exchange rate fluctuation, neither the Trustee nor the Contributor shall bear any responsibility for providing any additional financing.
4.4. The Trustee shall invest the Trust Fund funds, including the Contributions, pending their transfer, in accordance with the Trustee’s policies and procedures for the investment of trust funds administered by the Trustee. The Trustee shall credit all income from such investment to the Trust Fund to be used for the purposes of the Trust Fund.
4.5. The Trust Fund shall be maintained by the Trustee in the currency or currencies set forth in Schedule 1 (Holding Currencies) attached to this Annex, as the same may be amended from time to time in accordance with the provisions of the Contribution Agreements/Arrangements.
Commingling, Exchange and Investment of the Contributions. 4.01. The funds deposited in the Trust Fund shall be accounted for as a single trust fund and shall be kept separate and apart from the funds of the World Bank. For administrative and investment purposes, the funds deposited in the Trust Fund may be commingled with other trust fund assets maintained by the World Bank.
4.02. The Trust Fund shall be maintained by the Trustee in the currency(-ies) set forth in Annex 1 (Holding Currency) attached hereto (a “Holding Currency”), as the same may be amended from time to time in accordance with paragraph 9.02 below.
4.03. In the case of deposits of Contributions received in a currency other than any Holding Currency, promptly upon the receipt of such amounts in cash (including cash received from encashment of promissory notes) and the accompanying deposit instructions, as required under the relevant Contribution Agreement, the Trustee shall convert such amount into the Holding Currency at the exchange rate obtained by the Trustee on the date of the conversion. If there is more than one Holding Currency added to the Trust Fund, the Fund Board or Authorized Designee shall deliver a Written Instruction to the Trustee, in the manner and procedures agreed between the Fund Board and the Trustee, to instruct in which Holding Currency the Contribution shall be converted under this paragraph 4.