Limitations on Operations. The total amount outstanding of loans and guarantees made by the Bank in its operations shall not at any time exceed the total amount of the unimpaired subscribed capital of the Bank, plus the unimpaired reserves and undistributed surplus included in the capital resources of the Bank, as defined in Article II, Section 4, of this Chapter, exclusive of income on the capital resources that is assigned by decision of the Board of Directors to reserves not available for loans or guarantees.
Appears in 2 contracts
Sources: Agreement Concerning the Establishment of a North American Development Bank, Agreement Concerning the Establishment of a North American Development Bank
Limitations on Operations. The total amount outstanding of loans and guarantees made by the Bank in its operations shall not at any time exceed the total amount of the unimpaired subscribed capital of the Bank, plus the unimpaired reserves and undistributed surplus included in the capital resources of the Bank, as defined in Article II, Section 4, 4 of this Chapter, exclusive of income on the capital resources that is assigned by decision of the Board of Directors to reserves not available for loans or guarantees.
Appears in 2 contracts
Sources: Protocol of Amendment, Protocol of Amendment