AGREEMENT BETWEEN THE GOVERNMENT
OF THE UNITED STATES OF AMERICA
AND THE ROYAL NORWEGIAN GOVERNMENT
FOR THE USE OF FUNDS MADE AVAILABLE
IN ACCORDANCE WITH THE LETTER CREDIT
AGREEMENT DATED JUNE 18, 1946,
ACCEPTED BY THE ROYAL NORWEGIAN
GOVERNMENT ON JULY 29, 1946.

AVTALE MELLOM DEN KONGELIGE NORSKE
REGJERING OG AMERIKAS FORENTE STATERS
REGJERING OM BRUKEN AV DE MIDLER SOM
ER STILT TIL RÅDIGHET ETTER KREDITT-
AVTALEN AV 18. JUNI 1946, GODKJENT
AV DEN KONGELIGE NORSKE REGJERING
29. JULI 1946.

The Government of the United States of America and the Royal Norwegian Government;

Desiring to promote further mutual understanding between the peoples of the United States of America and Norway by a wider exchange of knowledge and professional talents through educational contacts;

Considering that Section 32(b) of the United States Surplus Property Act of 1944, as amended by Public Law No. 584, 79th Congress, provides that the Secretary of State of the United States of America may enter into an agreement with any foreign government for the use of currencies or credits for currencies of such foreign government acquired as a result of surplus property disposals for certain educational activities; and

Considering that under the provisions of the letter credit agreement dated June 18, 1946, addressed to the Minister of Finance, Oslo, Norway, from Horace C. Reed, Acting Central Field Commissioner for Europe, Office of the Foreign Liquidation Commissioner, United States of America, accepted by Erik Brofoss on July 29, 1946 (hereinafter designated "the Letter Credit Agreement") it is provided that in the event the Govern

1 Not printed.

Den Kongelige Norske Regjering og Amerikas Forente Staters Regjering, som önsker å fremme og utvide den gjensidige forståelse mellom det norske og det amerikanske folk ved en ökt utveksling av kunnskaper og fagkyndighet gjennom samarbeid på undervisningens område;

som tar i betraktning at seksjon 32 (b) i the United States Surplus Property Act av 1944, med endringer i Public Law No. 584, 79th Congress, gir Amerikas Forente Staters utenriksminister adgang til å slutte avtale med utenlandske regjeringer om å nytte for visse undervisningsmessige tiltak de belöp som er ervervet i vedkommende regjerings valuta eller som valutakreditter ved salg av overskuddsmateriell; og

som tar i betraktning at det etter bestemmelsene i brev om kredittavtale av 18. juni 1946 fra Horace C. Reed, Acting Central Field Commissioner for Europe, Office of the Foreign Liquidation Commissioner, United States of America, til den norske finansminister, godkjent av Erik Brofoss 29. juli 1946 (heretter kalt "kredittavtalen"), er forutsatt at, for det tilfelle at De Forente Staters Regjering skulle önske å motta norske betalingsmidler av Den

ment of the United States wishes to receive local currency of the Royal Norwegian Government for the payment of any or all expenditures in Norway of the Government of the United States and its agencies (i.e. Embassy, Consular, and similar civilian expenditures), the Government of the United States may request at any time or times, and the Royal Norwegian Government agrees to furnish at such time or times, Norwegian currency at an exchange rate as provided in sub-paragraph (4) (b) of the Letter Credit Agreement, in any amount not in excess of the net outstanding balance of principal (whether or not then due in United States doilars) plus interest (then due in United States dollars) payable under the terms of this letter. In the event that local currency is received by the Government of the United States under the terms of this paragraph, the United States dollar equivalent of the amount received shall be credited first to past due interest, if any, and then pro rata to all remaining unpaid installments of principal,

Have agreed as follows:

Article 1

There shall be established a foundation to be known as the United States Educational Foundation in Norway (hereinafter designated "the Foundation"), which shall be recognized by the Government of the United States of America and the Royal Norwegian Government as an organization created and established to facilitate the administration of the

Kongelige Norske Regjering til dekning av enkelte eller alle utgifter som De Forente Staters Regjering og dens utsendinger har i Norge (ambassade-, konsulat- og lignende sivile utgifter), kan De Forente Staters Regjering til enhver tid forlange og Den Kongelige Norske Regjering samtykker i til slik tid å stille til rådighet norske betalingsmidler etter den vekslingskurs som er forutsatt i kredittavtalens underpunkt (4)(b) til et belöp som ikke overstiger den utestående nettobalanse på hovedstolen (hva enten den da er forfalt til betaling i amerikanske dollars eller ikke) pluss renter (da forfalt til betaling i amerikanske dollars) som skal betales etter kredittavtalens bestemmelser. Hvis De Forente Staters Regjering mottar norske betalingsmidler i henhold til denne bestemmelse, skal et tilsvarende belöp i amerikanske dollars avskrives först mot mulige allerede forfalne renter og deretter pro rata mot alle gjenstående ubetalte avdrag på hovedstolen,

educational program to be financed by funds made available by the Royal Norwegian Government under the terms of the present agreement. Except as provided in Article 3 hereof the Foundation shall be exempt from the domestic and local laws of the United States of America and Norway as they relate to the use and expenditures of currencies, and credits for currencies, for the purposes set forth in the present agreement. The funds made available under the present agreement by the Royal Norwegian Government, within the conditions and limitation hereinafter set forth, shall be used by the Foundation or such other instrumentality as may be agreed upon by the Government of the United States of America and the Royal Norwegian Government for the purpose, as set forth in Section 32 (b) of the United States Surplus Property Act of 1944, as amended, of (1) financing studies, research,

instruction, and other educational activities of or for citizens of the United States of America in schools and institutions of higher learning located in Norway or of nationals of Norway in United States schools and institutions of higher learning located outside the continental United States, Hawaii, Alaska (including the Aleutian Islands), Puerto Rico, and the Virgin Islands, including payment for transportation, tuition, maintenance, and other expenses incident to scholastic activities;

or

ansiert ved de midler som stilles til rådighet av Den Kongelige Norske Regjering i henhold til bestemmelsene i denne avtale. Med det unntak som er gjort i denne avtales artikkel 3, skal Fondet være fritatt for lokale norske eller amerikanske lovbestemmelser for så vidt angår bruk og disponering av betalingsmidler og kreditter for de formål som er nevnt i denne avtale.

1. finansiere studier, forskning, undervisning og annen undervisningsmessig virksomhet til eller for amerikanske borgere ved norske skoler og höyere læreanstalter i Norge eller til norske statsborgere ved amerikanske skoler og höyere læreanstalter som ligger utenfor den kontinentale del av De Forente Stater, Hawaii, Alaska (med De aleutiske öyer), Puerto Rico og Jomfruöyene, innbefattende utgifter til reise, skolepenger og opphold og andre utgifter i samband med studiene; eller

(2) furnishing transportation for nationals of Norway who desire to attend United States schools and institutions of higher learning in the continental United States, Hawaii, Alaska (including the Aleutian Islands), Puerto Rico, and the Virgin Islands and whose attendance will not deprive citizens of the United States of America of an opportunity to attend such schools and institutions.

Article 2

In furtherance of the aforementioned purposes, the Foundation may, subject to the provisions of Article 10 of the present agreement, exercise all powers necessary to the carrying out of the purposes of the present agreement including the following:

(1) Receive funds.

(2) Open and operate bank accounts in the name of the Foundation in a depository or depositories to be designated by the Secretary of State of the United States of America. (3) Disburse funds and make grants and advances of funds for the authorized purposes of the Foundation.

(4) Acquire, hold, and dispose of

property in the name of the Foundation as the Board of Directors of the Foundation may consider necessary or desirable, provided however that the acquisition of any real property shall be subject to the prior approval of the Secretary of State of the United States of America.

(5) Plan, adopt, and carry out

programs, in accordance with the purposes of Section 32 (b) of the United States Surplus Property Act of 1944, as amended, and the purposes of the present agreement. (6) Recommend to the Board of Foreign Scholarships provided for in the United States Surplus Property Act of 1944, as amended, students, professors, research scholars, resident in Norway, and institutions of Norway qualified to participate in the programs in accordance with the aforesaid Act.

(7) Recommend to the aforesaid Board of Foreign Scholarships such qualifications for the selection of participants in the programs as it may deem necessary for achieving the purpose and objectives of the Foundation.

(8) Provide for periodic audits of the accounts of the Foundation as directed by the auditors selected by the Secretary of State of the United States of America.

(9) Engage administrative and clerical staff and fix and pay the salaries and wages thereof.

Article 3

All expenditures by the Foundation shall be made pursuant to an annual budget to be approved by the Secretary of State of the United States of America pursuant to such regulations as he may prescribe.

Article 4

The Foundation shall not enter

5. Planlegge, vedta og utföre tiltak i samsvar med formålene i seksjon 32 (b) i the United States Surplus Property Act av 1944 med endringer, og med formålene i denne avtale.

6. Innstille til the Board of

Foreign Scholarships, oppret-
tet ved the United States Sur-
plus Property Act av 1944 med
endringer, studenter, lærere,
vitenskapsmenn bosatt i Norge
og norske institusjoner som
er kvalifiserte til å delta i
tiltak i samsvar med den nevnte
lov.

7. Foreslå for det forannevnte

Board of Foreign Scholarships
slike retningslinjer for ut-
taking av deltakere i tiltak-
ene som det finner nödvendig
for å oppfylle Fondets formål
og hensikt.

8. Sörge for regelmessig revisjon
av Fondets regnskaper etter
direktiver fra de revisorer
som er oppnevnt av Amerikas
Forente Staters utenriksmin-
ister.

9. Tilsette administrasjons- og kontorpersonale og fastsette og utbetale deres lönn og betaling.

Artikkel 3

Artikkel 4

Fondet skal ikke påta seg noen