Common use of Limitations on Operations Clause in Contracts

Limitations on Operations. 1. The total amount outstanding in respect of the ordinary operations of the Bank shall not at any time exceed the total amount of its unimpaired subscribed capital, reserves and surplus included in its ordinary capital resources. 2. The total amount outstanding in respect of the special operations of the Bank relating to any Special Fund shall not at any time exceed the total amount of the unimpaired special resources appertaining to that Special Fund. 3. In the case of loans made out of funds borrowed by the Bank to which the commitment to calls provided for in paragraph 4(a) of article 7 of this Agreement applies, the total amount of principal outstanding and payable to the Bank in a specific currency shall not at any time exceed the total amount of principal outstanding in respect of funds borrowed by the Bank that are payable in the same currency. 4. a. In the case of investments made by virtue of paragraph 1(c) of article 14 of this Agreement out of the ordinary capital resources of the Bank, the total amount outstanding shall not at any time exceed a percentage, fixed by the Board of Governors, of the aggregate amount of the paid-up capital stock of the Bank together with the reserves and surplus included in its ordinary capital resources.