Treaty Series Recuei dens Traitds - United Nations Treaty Collection

336 United Nations - Treaty Series 1967
paragraph (d) or paragraph (e) of Section 6.02 of this Agreement shall occur, or (iii)
if any event specified in paragraph (c) of Section 5.02 of the Loan Regulations or
in paragraph (f) of Section 6.02 of this Agreement shall occur and shall continue
for a period of sixty days after notice thereof shall have been given by the Bank
to the Borrower, then at any subsequent time during the continuance thereof, the
Bank, at its option, may declare the principal of the Loan and of all the Bonds then
outstanding to be due and payable immediately, and upon any such declaration
such principal become due and payable immediately, anything in this Agreement
or in the Bonds to the contrary notwithstanding.
Section 6.02. The following are specified as additional events for the purposes
of paragraph (j) of Section 5.02 of the Loan Regulations:
(a) Failure by the Borrower or the Guarantor to fulfill an obligation to make
payment of principal or interest or any other payment required under the Loan
Agreement, the Guarantee Agreement or the Bonds or under any other loan agreement
between the Bank and the Borrower or under any loan or guarantee agreement
between the Guarantor and the Bank or under any bond delivered pursuant to
any such agreement or under any development credit agreement between the
Guarantor and the International Development Association even though such
payment has been made by other persons.
(b) Any of the Licences shall have been amended, abrogated, waived, assigned,
suspended or revoked without the prior concurrence of the Bank.
(c) Any debt of the Borrower shall have become due and payable prior to its
original maturity.
(d) A default shall have occurred in the performance of any covenant or
agreement on the part of the Borrower under the Trust Deed or the Debenture
Stock.
Xe) lie Borrower shall have been unable to pay its debts as they mature
or any action or proceeding shall have been taken by the Borrower or by others
whereby the undertaking, property or assets of the Borrower, or any part thereof,
shall or may be distributed among the creditors of the Borrower or assigned to any
other person.
(f) A default shall have occurred in the payment of principal, interest, service
charge or any other payment required under any development credit agreement
between the Guarantor and the International Development Association.
Article VII
EFFECTIVE DATE; TERMINATION; MISCELLANEOUS
Section 7.01. The following event is specified as an additional condition to the
effectiveness of this Loan Agreement and the Guarantee Agreement within the
meaning of Section 9.01 (c) of the Loan Regulations, namely, that the Borrower
shall have certified in writing to the Bank that, as of a date to be agreed between
the Bank and the Borrower (which will be prior to the Effective Date), there has
been no material adverse change in its financial position since the date of this Loan
Agreement.
No. 8608