Common use of Commingling, Exchange and Investment of the Contributions Clause in Contracts

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.

Appears in 2 contracts

Sources: Contribution Agreement, Contribution Agreement