Common use of Transfers of Currency Clause in Contracts

Transfers of Currency. (1) Transfers of currency pursuant to Articles 4, 5 and 6 shall be effected without undue delay in the convertible currency in which the investment of capital was carried out or in any other convertible currency if so agreed, at the rate of exchange in force at the date of transfer. (2) Without undue delay" in Paragraph 1 of this Article means the transfers which are made within a period normally required to prepare the formalities of transfer.

Appears in 1 contract

Sources: Investment Agreement

Transfers of Currency. (1) Transfers of currency pursuant according to Articles 4, 5 and 6 shall be effected made without undue delay in the convertible currency in which the investment of capital was carried out has been made or in any other freely convertible currency currency, if so agreed, at the rate of exchange in force at the date of transfer. (2) Without undue delay" ", in Paragraph 1 the meaning of this Article means the paragraph 1, are the transfers which are made within a period normally required to prepare the formalities of transfer.

Appears in 1 contract

Sources: Investment Promotion and Guarantee Agreement