Page 941 - ΔΟΚΙΜΗ

ΕΠΙΣΗΜΗ ΕΦΗΜΕΡΙΔΑ ΤΗΣ 2ας ΑΥΓΟΥΣΤΟΥ 1984
AιιTICLE V
Flnaoclal Coveoants
Sectlorι 5.01. The Borrower shall malntaln records adequate
ΙΟ reflect 1η accordance wlth conslstently malntained approprlate
accountlng practlces lts operatlons and flnanclal condltlon.
Section 5.02. The Borrower shall, startlng Ιη f1scal year
1984:
(a) have lts accounts and flnanclal statements (balance
s heets, s tatements of lncome and expenscs. s tatements of βου rce
and app11catlon of funds al1(1 , t!1ated statements) for each flsca1
year aud1 ted, Ιη accordance wl th app(oprlate aud1 ι ing p-rlnc1ples
conslstently app11ed, by 1ndeperιdent aud1tors acceptab1e ιο the
Bank;
(b) furnlsh Ιο the Bank as soon as available, but 1η any
case ηοΙ later than slx months after the end ο! each such year:
(1) certlfled coples of 1ιβ flnanclal statements for such year θβ
so audlted; (11) the report ο! such audlt by sald audltors, of
such scope and 1η such detal1 as the Bank sha11 have reasonab1y
requested; and
(c) furnlsh Ιο the Bank such other inform"atlon concernlng
said accounts, flnanclal statements, records and expendltures, θβ
we11 θβ the audlt thereof, as the Bank shall froIn tlme Ιο tlme
reasonably request.
Sectlon 5.03. (a) The Borrower repre~~ilts that αΙ the date
ο! thls Agreement πο l1en exlsts οη any of lts assets as securlty
for any debt.
(b) Ό1e Borrower undertakes that, except as the Bank sha11
'/I.. lterwise agree, 1f any 11en sha 11 be created οη any assets ο!
the Borrower as securlty for any debt, such 11en w111 ipso facto
equa11y and ratably secure the payment ο! the principal of, and
lnterest and other charges on, the Loan, and Ιη the creatlon of
any 8uch l1en express provislons wi11 be made Ιο that effect, at
ΩΟ cost ΙΟ the Bank; provldcd, however, that the foregolng provl–
slons of thls paragraph shall ηοι apply to: (Α) any lien created
οη property, ΒΙ the t1me of purchase th~reof, solely as securlty
for the' payment of the purcl1ase price ο! such property or as
securi t)' for the payment of debt lncurred for tI1e purpose οΕ
f1nanclng the purchase of such property; or (Β) any l1en ar1s1ng
1η the ordlnary course of hanklng t ransactlons and secur1ng θ
debt maturlng ηοι more than one year after the date οη wh1ch 1t
1s or1g1nally 1ncurred.
Sectlon 5.04. Except θθ the Bank shall otherw1se agree:
(θ) the Borrower sha11, from t1me ιο t1me take, or cause to
be taken, 811 such me8sures (1nc1udtng, wlthout l1mlt8tlon,
adjustment8 ιο the structure ΟΓ levels of lts sewerage and drain–
age rates and charges) 8θ sha11 be required to produce, for each
of lts f18cal years, commencing fiscal year 1985. τevenues suf-
•
f1cient ιο cover:
(1) 1ts total operatlng expensesj
(11) the amount of lnterest and other charges οη
(exc1uding cap1tallzed lnterest), and repayment of
(lnc1ud1ng slnklng fund payments. lf θηΥ) debt
contracted 1η connectlon wlth such operations, 1η
excess of prov1s10n for depreciat10n;
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