Treaty Series Recueil des Traites - United Nations Treaty Collection

264 United Nations - Treaty Series 1969
SECTION 9.02. Evidence of Authority. The Borrower shall furnish to the
Association sufficient evidence of the authority of the person or persons who will,
on behalf of the Borrower, take any action or execute any documents required or
permitted to be taken or executed by the Borrower under the Development Credit
Agreement, and the authenticated specimen signature of each such person.
SECTION 9.03. Action on Behalf of the Borrower. Any action required or
permitted to be taken, and any documents required or permitted to be executed,
under the Development Credit Agreement on behalf of the Borrower may be taken
or executed by the representative of the Borrower designated in the Development
Credit Agreement for the purposes of this Section or any person thereunto authorized
in writing by him. Any modification or amplification of the provisions of the
Development Credit Agreement may be agreed to on behalf of the Borrower by
written instrument executed on behalf of the Borrower by the representative so
designated or any person thereunto authorized in writing by him; provided, that,
in the opinion of such representative, such modification or amplification is reasonable
in the circumstances and will not substantially increase the obligations of the Borrower
under the Development Credit Agreement. The Association may accept the
execution by such representative or other person of any such instrument as conclusive
evidence that in the opinion of such representative any modification or amplification
of the provisions of the Development Credit Agreement effected by such
instrument is reasonable in the circumstances and will not substantially increase
the obligations of the Borrower thereunder.
SECTION 9.04. Execution in Counterparts. The Development Credit Agreement
may be executed in several counterparts, each of which shall be an original.
Article X
EFFECTIVE DATE; TERMINATION
SECTION 10.01. Conditions Precedent to Effectiveness of Development Credit
Agreement. The Development Credit Agreement shall not become effective until
evidence satisfactory to the Association shall have been furnished to the Association
that:
(a) the execution and delivery of the Development Credit Agreement on behalf
of the Borrower have been duly authorized or ratified by all necessary governmental
action; and
(b) all other events specified in the Development Credit Agreement as conditions
to its effectiveness have occurred.
SECTION 10.02. Legal Opinions. As part of the evidence to be furnished
pursuant to Section 10.01, the Borrower shall furnish to the Association an opinion
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