Treaty Series Recuei dens Traitds - United Nations Treaty Collection
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Treaty Series Recuei dens Traitds - United Nations Treaty Collection

Treaty Series Recuei dens Traitds - United Nations Treaty Collection Treaty Series Recuei dens Traitds - United Nations Treaty Collection

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334 United Nations - Treaty Series 1967 or maturities ; or (ii) for the purpose from time to time of meeting annual sinking fund requirements next falling due. Section 5.11. The Borrower shall duly perform all covenants, agreements and obligations to be performed by it under the Trust Deed and the Licences. Section 5.12. The Borrower shall, from time to time, take all steps which shall be necessary or desirable to obtain adjustments in its telecommunication rates so that sufficient revenues are provided: (a) to cover all operating expenses, including adequate maintenance and adequate depreciation of assets ; and (b) to provide a reasonable level of earnings; all as permitted by the provisions of the Licences and the Public Utility Commission Act, 1966 of the Guarantor. Section 5.13. The Borrower shall not consent to any action taken at any meeting of bond or debenture stock holders which would or might change the terms of the Trust Deed or of the Debenture Stock except with the approval of the Bank. Section 5.14. Except as the Bank shall otherwise agree, the Borrower shall not take or concur in any action which would have the effect of amending, abrogating, waiving, suspending or assigning any of the Licences. Section 5.15. In the event that the Borrower establishes or acquires any subsidiary, the Borrower shall cause such subsidiary to observe and perform the obligations of the Borrower hereunder to the extent to which the same may be applicable thereto, as though such obligations were binding upon such subsidiary. Section 5.16. The Borrower shall as soon as practicable (i) enter into, execute, deliver, file, record and register an amendment to the Trust Deed, the form and substance of which shall be satisfactory to the Bank, providing for the issue, authentication and delivery of Debenture Stock; and (ii) furnish to the Bank an opinion or opinions satisfactory to the Bank of legal counsel acceptable to the Bank showing that the said amendement has been validly and effectively entered into, executed, delivered, filed, recorded and registered, and that the Debenture Stock when executed and delivered in accordance with its terms and the terms of this Loan Agreement will constitute valid and binding obligations of the Borrower and create a valid and effective charge in favor of the Bank, ranking in all respects pari passu with the outstanding debenture stock issued pursuant to the Trust Deed. Article VI REMEDIES OF THE BANK Section 6.01. (i) If any event specified in paragraph (a), paragraph (b) or paragraph (f) of Section 5.02 of the Loan Regulations shall occur and shall continue for a period of thirty days, or (ii) if any event specified in paragraph (b), paragraph (c), No. 8608

1967 Nations Unies - Recueil des Traitis 335 venant A dch~ance A la mme date ou aux m~mes dates que les valeurs rachetdes ou rembours~es, ou apr~s ces dates; ou ii) s'il s'agit de payer la somme devant 6tre rembours~e A la prochaine 6ch6ance annuelle par pr6lMvement sur le fonds d'amortissement. Paragraphe 5.11. L'Emprunteur exdcutera dfment tous les engagements, conventions et obligations souscrits par lui dans l'Acte de nantissement et les Licences. . Paragraphe 5.12. L'Emprunteur prendra p~riodiquement toutes les mesures n~cessaires ou souhaitables pour ajuster ses tarifs de t~l~communications de fagon AL obtenir des recettes suffisant : a) A couvrir ses d~penses d'exploitation, y compris les frais d'entretien n~cessaires et 1'amortissement normal de ses avoirs, et b) A r~aliser des b~n~fices raisonnables, comme l'y autorisent les dispositions des Licences et du Public Utility Commission Act, 1966 du garant. Paragraphe 5.13. Sauf approbation pr6alable de la Banque, l'Emprunteur ne donnera son assentiment A aucune d~cision prise A une r~union de porteurs d'obligations ou d'obligations hypoth~caires qui modifierait ou pourrait modifier les stipulations de l'Acte de nantissement ou des obligations hypoth~caires. Paragraphe 5.14. k moins que la Banque n'accepte qu'il en soit autrement, l'Emprunteur ne prendra aucune mesure ni ne s'associera A aucune d~cision qui aurait pour effet de modifier, de d~noncer, de suspendre, de c~der ou de r~voquer les Licences. Paragraphe 5.15. Si l'Emprunteur cr~e ou acquiert une filiale quelconque, il veillera A ce que ladite filiale respecte et remplisse, dans la mesure oui ils lui sont applicables, les engagements souscrits par l'Emprunteur en vertu du present Contrat, et ce au m~me titre que si ces engagements liaient ladite filiale. Paragraphe 5.16. L'Emprunteur devra d6s que possible i) convenir d'un amendement h l'Acte de nantissement qui, jug6 satisfaisant par la Banque quant A la forme et quant au fond, sera valid6, remis, class6, d~pos6 et enregistr6 par l'Emprunteur et devra pr~voir l'6mission, l'authentification et la remise d'obligations hypoth~caires, et ii) communiquer A la Banque l'avis ou les avis, jug6s satisfaisants par la Banque, d'un conseiller juridique agr6 par elle, attestant que ledit amendement a t6 adopt6 d'un commun accord, valid6, remis, class6, d~pos6 et enregistr6 en bonne et due forme, et que les obligations hypoth~caires, lorsqu'elles seront 6tablies et remises conform~ment A leurs clauses et aux clauses du present Contrat d'emprunt, constitueront des engagements valables et d~finitifs pour l'Emprunteur, et cr~eront une servitude valable et effective en faveur de la Banque, au m~me titre, A tous 6gards, que les obligations hypoth~caires non rembours~es 6mises conform~ment A l'Acte de nantissement. Article VI REcOURS DE LA BANQUE Paragraphe 6.01. i) Si l'un des faits 6num~rds aux ahn~as a, b ou f du paragraphe 5.02 du R~glement sur les emprunts se produit et subsiste pendant 30 jours, ou ii) si l'un des faits mentionn~s aux alin6as b, c, d et e du paragraphe 6.02 du No 8608

334 <strong>United</strong> <strong>Nations</strong> - <strong>Treaty</strong> <strong>Series</strong> 1967<br />

or maturities ; or (ii) for the purpose from time to time of meeting annual sinking<br />

fund requirements next falling due.<br />

Section 5.11. The Borrower shall duly perform all covenants, agreements<br />

and obligations to be performed by it under the Trust Deed and the Licences.<br />

Section 5.12. The Borrower shall, from time to time, take all steps which<br />

shall be necessary or desirable to obtain adjustments in its telecommunication rates<br />

so that sufficient revenues are provided: (a) to cover all operating expenses, including<br />

adequate maintenance and adequate depreciation of assets ; and (b) to provide<br />

a reasonable level of earnings; all as permitted by the provisions of the Licences<br />

and the Public Utility Commission Act, 1966 of the Guarantor.<br />

Section 5.13. The Borrower shall not consent to any action taken at any<br />

meeting of bond or debenture stock holders which would or might change the terms<br />

of the Trust Deed or of the Debenture Stock except with the approval of the Bank.<br />

Section 5.14. Except as the Bank shall otherwise agree, the Borrower shall<br />

not take or concur in any action which would have the effect of amending, abrogating,<br />

waiving, suspending or assigning any of the Licences.<br />

Section 5.15. In the event that the Borrower establishes or acquires any<br />

subsidiary, the Borrower shall cause such subsidiary to observe and perform the<br />

obligations of the Borrower hereunder to the extent to which the same may be<br />

applicable thereto, as though such obligations were binding upon such subsidiary.<br />

Section 5.16. The Borrower shall as soon as practicable (i) enter into, execute,<br />

deliver, file, record and register an amendment to the Trust Deed, the form and<br />

substance of which shall be satisfactory to the Bank, providing for the issue, authentication<br />

and delivery of Debenture Stock; and (ii) furnish to the Bank an opinion<br />

or opinions satisfactory to the Bank of legal counsel acceptable to the Bank showing<br />

that the said amendement has been validly and effectively entered into, executed,<br />

delivered, filed, recorded and registered, and that the Debenture Stock when executed<br />

and delivered in accordance with its terms and the terms of this Loan Agreement<br />

will constitute valid and binding obligations of the Borrower and create a valid<br />

and effective charge in favor of the Bank, ranking in all respects pari passu with the<br />

outstanding debenture stock issued pursuant to the Trust Deed.<br />

Article VI<br />

REMEDIES OF THE BANK<br />

Section 6.01. (i) If any event specified in paragraph (a), paragraph (b) or<br />

paragraph (f) of Section 5.02 of the Loan Regulations shall occur and shall continue<br />

for a period of thirty days, or (ii) if any event specified in paragraph (b), paragraph (c),<br />

No. 8608

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