Treaty Series Recuei dens Traitds - United Nations Treaty Collection

200 United Nations - Treaty Series 1967
Agreement shall occur and shall continue for a period of sixty days after
notice thereof shall have been given by the Association to the Borrower,
then at any subsequent time during the continuance thereof the Association,
at its option, may declare the principal of the Credit then outstanding to
be due and payable immediately, and upon any such declaration such principal
shall become due and payable immediately, anything in the Development
Credit Agreement to the contrary notwithstanding.
Section 5.02. Pursuant to paragraph (j) of Section 5.02 of the Regulations,
the following are specified as additional events for the purposes of
said Section :
(a) The R~gie shall have failed to perform any of its covenants or
agreements under the Project Agreement;
(b) The International Traffic Agreement, the Customs Agreement, the
Railway Convention or the Statutes shall have been amended, suspended,
waived, terminated or repealed so as to affect adversely the ability of the
Borrower or the R~gie to carry out the covenants or agreements set forth
in this Agreement or in the Project Agreement;
(c) Railway traffic between the territories of the Borrower and the
territories of the Republic of Senegal shall have been substantially interrupted
for other than technical reasons, unless such reasons shall be manifestly
beyond the Borrower's control;
(d) The right of the Republic of Senegal to make withdrawals under
the Senegal Development Credit Agreement shall have been suspended or
terminated in whole or in part and as a result thereof, it will be improbable
that the purpose of the Project will be achieved; and
(e) Failure by the Borrower to fulfill an obligation to make payment
of principal or interest or any other payment required under this Development
Credit Agreement or under any other development credit agreement
between the Borrower and the Association or under any loan agreement or
guarantee agreement between the Borrower and the Bank or under any
bond delivered pursuant to any such agreement even though payment has
been made by other persons.
Article VI
EFFECTIVE DATE; TERMINATION
Section 6.01. The following events are specified as additional conditions
to the effectiveness of this Development Credit Agreement within the meaning
of Section 8.01 (b) of the Regulations:
(a) That either concurrently with or prior to the Development Credit
Agreement becoming effective, the Project Agreement, the Subsidiary Loan
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