Treaty Series Recueil des Traites - United Nations Treaty Collection

266 United Nations - Treaty Series 1969
or opinions satisfactory to the Association of counsel acceptable to the Association
showing:
(a) that the Development Credit Agreement has been duly authorized or ratified
by, and executed and delivered on behalf of, the Borrower and constitutes a
valid and binding obligation of the Borrower in accordance with its terms; and
(b) such other matters as shall be specified in the Development Credit Agreement.
SECTION 10.03. Effective Date. Except as shall be otherwise agreed by the
Association and the Borrower, the Development Credit Agreement shall come
into force and effect on the date on which the Association dispatches to the Borrower
notice of its acceptance of the evidence required by Section 10.01.
SECTION 10.04. Termination of Development Credit Agreement for failure to
Become Effective. If the Development Credit Agreement shall not have come into
force and effect by the date specified therein for the purposes of this Section, the
Development Credit Agreement and all obligations of the parties thereunder shall
terminate, unless the Association, after consideration of the reasons for the delay,
establishes a later date for the purposes of this Section. The Association shall
promptly notify the Borrower of such later date.
SECTION 10.05. Termination of Development Credit Agreement on Full Payment.
If and when the entire principal amount of the Credit withdrawn from the
Credit Account and all charges which shall have accrued on the Credit shall have
been paid, the Development Credit Agreement and all obligations of the parties
thereunder shall forthwith terminate.
No. 10092