This Agreement Is Made En Espanol

With respect to the interpretation of the provisions of this agreement, the Fund and its members may draw on the following provisions: 4. The Fund does not assign special drawing rights according to this schedule to participants who communicated the Fund in writing prior to the date of the allocation. 4. The currency of a member held by the Fund, which at the time of the second amendment to this agreement has 75% of the member quota and is not redeemed below 1, is redeemed under the following rules: any change in special drawing rights will only come into effect when it is covered by the Fund within the special department. Participants communicate to the Fund the provisions of this agreement under which special drawing rights are used. The Fund may require participants to provide the other information it deems necessary for its duties. All special drawing rights transactions and transactions are carried out through the Special Drawing Rights Department. All other transactions and transactions on behalf of the Fund that have been approved by or under this Agreement are conducted through the Department. The transactions and transactions covered by Section 2 of Article XVII are carried out through the Department and the Preferential Subscription Rights Division.

(9) The Fund determines the value of gold on this schedule on the basis of market prices. 2. If the commitment that remains at the Fund`s expense after the imposition under Article XXIV, Section 2, Point b), and no agreement is reached within six months of the closing date, the terminating member commits to it within three years of the end or within the longer period set by the Fund. The terminating participant fulfils this obligation, for example: (a) by paying a currency freely usable to the Fund, or b) by obtaining special drawing rights in accordance with Article XXIV, Section 6, of the General Resource Account, or in agreement with a participant designated by the Fund or another holder, and by compensating for these special drawing rights. 1. If the remaining commitment to be pending after the imposition pursuant to Article XXIV, point b), is notified to the terminating participant and if the agreement on liquidation between the Fund and the terminating member is not reached within six months of the termination date, the Fund terminates this balance of special drawing rights in equal semi-annual tranches within a maximum of five years from the closing date. The Fund maintains this balance, as it determines: (a) by paying the terminated member the sums made available by other fund participants in accordance with Article XXIV, Section 5, or (b) by allowing the terminating subscriber to use his special drawing rights to obtain his own currency or currency freely usable from a participant designated by the Fund. , the general resource account or another owner. Each member informs the Fund whether it intends to use the transitional provisions in Section 2 of this section or is prepared to assume the obligations under Article VIII, Sections 2, 3 and 4. A member who makes use of the transitional arrangements informs the Fund shortly thereafter, as soon as he is ready to assume these commitments.

4. Where the Fund`s holdings in the currency of an outgoing member are greater than the amount owed to it and no agreement is reached on the accounting method within six months of the date of withdrawal, the former member is required to repay the excess currency in a freely usable currency.