Agreement In Article

4. If, within the three-month period referred to in point 3, a Member has not reached an agreement with the Fund, the Fund shall use the currencies of other Members allocated to that Member in accordance with point 2(d) to exchange the currency of that Member which is allocated to other Members. Any currency which is granted to a Member which has not reached an agreement shall be used as far as possible to exchange its currency, which shall be granted to Members which have concluded agreements with the Fund in accordance with point 3. The obligations under Articles 3 and 4 shall not apply to procedures under multilateral agreements concluded under the auspices of WIPO concerning the acquisition or maintenance of intellectual property rights. 4. Where the holdings of the Fund on the currency of an outgoing Member exceed its due amount and no agreement on the method of settlement is reached within six months of the date of withdrawal, the former Member shall be required to exchange that excess currency in a freely usable currency. Repayment shall be made at the rates at which the Fund would sell those currencies at the time of payment of the Fund. The outgoing member shall complete the repayment within five years of the date of exit or within a longer period fixed by the Fund, but shall not be required to repay, in the course of half a year, more than one tenth of the excess assets of the Fund in its currency at the time of exit, as well as other acquisitions of the currency during the same period. If the outgoing member does not comply with this obligation, the Fund may liquidate, in an orderly manner, on any market, the amount of the currency that should have been repaid. Below you will find an example of articles of the Treaty: in addition to the obligations arising from other articles of this Agreement, each Member assumes the obligations set out in this Article. The currency that the Fund receives from a resilient participant shall be used by the Fund to reimburse the special drawing rights held by the participants in relation to the amount for which the special drawing rights of each participant exceed its cumulative net allocation at the time of receipt of the currency from the Fund.

The Special Drawing Rights so collected and the Special Drawing Rights that the resilient Participant obtains and deducts from that rate in accordance with the provisions of this Agreement for the purpose of executing a rate due under a transaction agreement or Annex H. (d) arising from international agreements for the protection of intellectual property which entered into force before the entry into force of the WTO Agreement, provided that such agreements are notified to the Ad Hoc Council and do not constitute arbitrary or unjustifiable discrimination against nationals of other Members. Unless otherwise agreed between New Zealand and the Fund, all drawings, exchanges and payments of principal and interest shall be made under this Agreement at the exchange rates of the currencies concerned with respect to SDRs fixed in accordance with Article XIX,7(a) of the Articles of Agreement of the Fund and the rules and rules of the Fund under this Agreement, for the second working day of the Fund before the date of development of the transfer. Exchange or payment….