4090 Privileges and im- munities. Unexpended funds. Post, p . 4094; ante, p. 4088 . Use of funds for sal- aries, living expenses, transportation, etc. References to the In- ter-American Educa- tional Foundation, Inc. INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [62 STAT. 1. The parties hereto declare their recognition that the Institute, being a corporate instrumentality of the United States of America wholly owned, directed, and controlled by the Government of the United States of America, is entitled to share fully in all the privileges and immunities, including immunity from suit in the courts of the Republic, which are enjoyed by the United States of America. 2. The parties hereto agree that any funds which remain unex- pended on the termination of this Extension Agreement, shall, unless otherwise agreed upon in writing by the parties hereto at that time, be returned to the parties hereto in the proportion of the respective contributions made by the parties under the Basic Agreement and under Clause II of this Extension Agree- ment. 3. By mutual agreement between the Minister and the Special Representative, funds of the Servicio may be used to reimburse or defray the salaries, living expenses, travel and transportation costs, and other expenses of such additional personnel of the Education Division of the Institute in Panama as the parties mentioned may agree are necessary to be employed, in addition to the employees referred to under Clause II hereof. Such funds may be contributed or granted for such purposes by the Servicio to the Institute or to any other organization, but in every case the Minister and the Special Representative will enter into a written project agreement setting forth the scope and the other necessary terms of such contributions or grants. 4. All references in the Basic Agreement to the Inter-American Educational Foundation, Inc., shall, for the purpose of this Extension Agreement, be deemed to refer to the Institute. CLAUSE V Legislation, etc. The Republic undertakes to obtain or promulgate such legislation, decrees, orders or resolutions as may be necessary to effectuate the terms of this Extension Agreement. CLAUSE VI Effective date. This Extension Agreement shall become effective upon ratification by the National Assembly of the Republic of Panama. ['1 IN WITNESS WHEREOF, the parties hereto have caused this Extension Agreement to be executed by their duly authorized representatives, in quintuplicate, in the Spanish and English languages, in Panama, Republic of Panama, this 28th day of September, 1948. REPUBLIC OF PANAMA By M VARELA Jr By THE INSTITUTE OF INTER-AMERICAN AFFAIRS ERNEST C JEPPSEN 1 Feb. 8, 1949.
�
