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ΕΠΙΣΗΜΗ ΕΦΗΜΕΡΙΔΑ ΤΗΣ 2ας ΑΥΓΟΥΣΤΟΥ
1984
LOΑΝ ΝΟΜΒΚΙ. 21ι
11 CY
GUAJl.λMTEE ΛGOΚMENT
AGREEMENT, dated
~
3 \
.
'
1984,
between
REPU8LIC OF CYPRUS (bereInafter called the Guarantor) and INTER–
NATIONAL
ΒΑΝΚ
FOR RECONSTRUCTION
ΑΝD
DEVELOPMENT (here1nafter
called the Bank).
WHEREAS by tbe Loan Agreement of even date herew1th between
the 8ank and the Sewerage Board of L1mass01-Amathus (bere1nafter
caiiedthe Borrower) the Bank has agreed to
ιnake
to the Borrower
a 10an
1η
var10us
~urrenc1es
equ1va1ent to s1xteen m11110n e1ght
hundred thousand dollars ($16,800,000),
οη
the
~erms
and cond1-
t10ns set forth
1η
tbe Loan Agreement, but only
οη
cond1tlon that
tbe Guarantor agree to guarantee tbe ob11gat10ns of the Borrower
1η
respect of sucb 10an as here1nafter prov1ded; and
WHEREAS the Guarantor,
1η
cons1derat10n of the Bank's enter-
1ng 1nto the Loan Agreement wlth the Borrower, haa agreed
βΟ
to
guarantee such dbl1gat10ns of the Borrower;
NOW THEREFORE the partles hereto hereby agree
ββ
follows:
AIιTICLI Ι
Ceaeral
CoodΙt10Ω8ί
Deflo1tloaa
Sect10n 1.01. The ·part1es to th1s Agreement accept
βΙΙ
the
prov1s10ns of the General Condlt1ons App11cable to Loan and Gua–
rantee Agreements of the Bank dated October 27,
1980,
with the
saDιe
force and effect as 1f tbey were fully set forth hereln
(General Condltlons Appl1cable to Loan and Guarantee
λgreeaιents
belng herelnafter cal1ed the General Condltlons).
Sect10n
1.02.
Wherever used
1η
tbls Agreement, unless tbe
context otberwlse requ1res, tbe several terms deflned
1η
the
General Cond1t10ns,
1η
the Preamb1e to thls
AgreelΩent
and
ίη
Sectlon
1.02
of the Loan Agreement have the respect1ve mean1ngs
thereln set forth.
AJιnCLI
11
Guarantee
ί
Provl.loa of
l'ond8
~ection
2.01.
The Guarantor declares 1ts comm1tment to tbe
object1ves of the Project as set forth
1η
Schedu1e 2 to the Loan
Agreement, and, to th1s end. w1tbout l1m1tatton or restr1ct10n
υροη
any of its otber ob11gat10ns under the Guarantee Agreement,
the Guarantor hereby uncond1t10na11y guarantees,
ββ
pr1mary obl1-
gor and not
β8
surety merely, the due and punctual payment of the
pr1nc1pa1 of, and 1nterest and other charges 00, the Loan, aod
the prem1um, 1f any,
οη
the prepayment of the
Ιοβη,
8nd the punc–
~υβl
performance of
βΙΙ
the other obligat100s of the Borrower,
al1
8β
set forth
1η
the Loan Agreement.
Sect10n
2.02.
W1thout l1m1tat10n or restr1ct10n
υροη,
the
prov1s10ns of Sect10n
2.01
of th1s Agreement, the Guarantor
speclflcally undertakes: (a) to make ava11ab1e to the Borrower
ι
8θ
and when needed
ι
the proceeds of the CERF
1ιoan
or 8ny other
Loan prov1ded for purposes of the Project; (b) to provlde to the
Borrower
1η
the ' form of a 108n an8mount equ1valent to at least
$9,800,000 to
ιneet
a port1on of the est1mated expend1tures re–
qu1red for the carry1ngout of the Project; and(c>
1η
addlt10n
to 1ts ob11gatlons pursu8nt to paragraphs (a> and (b) of thls
Sect1on, wbenever there 1& reasonable cause to belleve that the
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