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784
ΕΠΙΣΗΜΗ ΕΦΗΜΕΡΙΔΑ ΤΗΣ 17ης ΙΟΥΛΙΟΥ
1984
principal amount of the Loan withdrawn and outstanding from time
to time at a rate per annum for each Interest Period equal to one
half percent per annum above the Cost of Qualif1ed Burrowings
ίοτ
the last Semester end1ng
ρτίοτ
to the commencement of such
Interest Period.
(b)
As
soon as practicable after the end of each Semester,
the Bank shall notify the Borrower of the Cost of Qualified
Borrowings for such Semester.
(c) For purposes of this Section:
(1) ' 'Interest Period" means the six-month period
coπnnencing οη
each date specified
ίη
Section
2.08
of th1s Agreement, including the Interest Period
ίη
wh1ch th1s Agreement 1s s1gned.
(11) "Cost of Qualified Borrowings" means the cost,
expressed as a percentage per annum, as reasonably
determined by the Bank, prov1ded that the amount
of
$8,520.5
ωίΙ110η
referred to
ίη
(iii)
(Β)
hereunder shall
be
reckoned at a cos t of
10.93%
pe;r annum.
(1ί1)
"Qua11fied Borrowings" means:
(Α)
outstanding
borrowings of the Bank drawn down after June
30,
1982;
and
(Β)
until July
1, 1985,
the amount of
$8,520.5
million (representIng borrowings of the
Bank between July
1, 1981
and June
30, 1982)
less
any part thereof repaid earlier than July
1,
1985.
(ίν)
"Semester" means the first s1x months or the
second six months of a calendar year.
Section
2.08.
Interest and other charges shall be payable
semiannually
οη
January
15
and July
15
ίη
each year.
Section
2.09.
The Borrower shall repay the prf-
'~al
amount
of the Loan
ίη
accordance wIth the amortization .:" .dule set
forth
ίη
Schedule 3
Ιο
this Agreement.
ARTICLE 111
Execution of the Project
Section
3.01.
(a) The Borrower declares its
coιnmitment Ιο
the objectives of the Project as set forth
ίη
Schedule 2 to this
Agr~ement,
and,
ΙΟ
this end, shall carry out the Project through
MANR w1th due d11igence and effic1ency' and
ίη
conform1ty 'with
appropriate agricultural, engineer1ng,' technical, administrat1ve
and f1nancial practices, and shall provide, promptly as needed,
the funds, facilities, services and otl1er resources required
ίστ
the purpose.
(b) Without
liιnitation
to the foregoing, and
1η
order to
make full economic and productive use of the investments included
ίη
the Project, the Borrower shall, not later than June
30,
1986,
οτ
such other date as the Bank may agree, prepare
ίη
consultat1on
wIth the Bank a schedule and
ρΙθη
for the development of the
Second Phase of the Southern Conveyor Scheme for Water Resources
Development and, not later than January
1,
1988, .•
or such other
date as the Bank may agree, start construct10n under the Second
Phase · in accordance with said schedule and plan.
Section
3.02.
For purposes of assisting the Borrower
ίη
the
carrying out of the Project and, thereafter,
ίη
the operation of
the facilities
Ιο
be constructed under the Project, the Borrower