Paragraph Article 7

The initial subscription of each member shall be paid as follows—

1. (i)

   Within ninety days from the date on which this Convention enters into force with respect to such member, ten per cent. of the price of each share shall be paid in cash as stipulated in Section (a) of Article 8 and an additional ten per cent. in the form of non-negotiable, non-interest-bearing promissory notes or similar obligations to be encashed pursuant to a decision of the Board in order to meet the Agency’s obligations.

2. (ii)

   The remainder shall be subject to call by the Agency when required to meet its obligations.