5(J) – Agreement

The money the Fund receives from a resilient participant is used by the Fund to exchange special drawing rights held by participants in proportion to the amount of each participant`s participation in special drawing rights at the time the Fund receives the coin for its cumulative net allocation. Special drawing rights thus collected and special drawing rights received by a participant terminate, in accordance with the provisions of this agreement, in order to satisfy any waterproofing agreement or scheduleD rates due and charged at this rate are void. 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. The repayment is made at the rates at which the Fund would sell these currencies at the time of the Fund`s exit. The outgoing member is required to complete the withdrawal within five years of the date of revocation or a longer period set by the Fund, but is not required to repay more than one-tenth of the Fund`s excess assets on its currency at the time of exit, plus other purchases of the currency during that semester , over a period of one semester. If the member who retires does not fulfil this obligation, the fund may, in each market, liquidate in an orderly manner the amount of money that should have been repaid. When a member withdraws from the Fund, the Fund`s normal operations and operations are interrupted in its currency and the settlement of all accounts between the Fund and the Fund is carried out by appropriate agreement between the Fund and the Fund. In the absence of agreement, the provisions of Schedule J apply to the count. After the expiry of the deadline, the Fund pays interest on all remaining balances of the special drawing rights held by a terminating participant, and the terminating member pays a fee for all remaining commitments due to the Fund at the hours and rates prescribed in Article XX.

Payment is made in special drawing rights. A resilient participant is authorized to obtain special drawing rights with a freely usable currency to pay fees or investments in a transaction with a designated participant by the Fund or in agreement with another holder, or to hold special drawing rights that he or she received as an interest in a transaction with a designated participant pursuant to Article XIX , Section 5 or in agreement with another holder. 2. If the Fund`s holdings in the member`s currency are not sufficient to pay the net amount owed by the Fund, the balance is paid in a freely usable currency or in some other form that can be agreed upon. If the Fund and the outgoing member fail to reach an agreement within six months of the date of withdrawal, the currency in question, which the Fund holds, is immediately paid to the outgoing member. The balance payable is paid in ten semi-annual instalments over the next five years. Each of these tranches is paid, at the Fund`s choice, either in the outgoing member`s currency acquired at the exit of the fund, or in a freely usable currency. 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.