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ΕΠΙΣΗΜΗ ΕΦΗΜΕΡΙΔΑ ΤΗΣ IΟης ΑΥΓΟΎΣΤΟΥ
1984
931
(n)
"CrνlIO
Subsidiary Loan Agreement" means the Subsidiary
Ιοarl
Agreement described in Section
3.03
(a) of this Agree–
mer-,t;
(ο)
th!; sigfl
"c.("
means Cyprus pounds;
(ρ)
lhe 8ign
"$11
mealls Uni ted States
0011
ars.
Section 1.03. (a) The
ΒΟΓΓονιεΓ
and ttle Fund agree to appoint
U·le
Office for Projects Execution (hereinafter referred to as the
ΟΡΕ)
of the
United Nations Oevelopment Programme as the Coopcrating Institution, with
the
reSΡοnsίbίlίtίεs
set forth in Article
V
of the Gener' al Conditions, to
adπιί
nister tlle Loan in accordance wi th the provisions of this Agreement.
(b) If, for any reason, a change of the Cooperating Institution becomes
necessary, such a change shall be made by agreement between the Borrower
and the Fund in consultation with the Cooperating Institution administering
the Loan.
Section 1.04. Except as specifically provided in this Agreement
ΟΓ
the General Conditions,
ΟΓ
as requested by the Fund,
ΟΓ
unless the context
otherwise requires, the Borrower shall directly furnish a11 information and
address a11 communications
Ιο
the Cooperating Institution on a11 matters re–
ferred to
ίπ ΟΓ
related to Article
ιν
of this Agreement and Article
νι
of the
General Condi tions.
ARTICLE 11
The Loan
Section 2.01. The Fund agrees to provide to the Borrower from its
resources an amount. in various currencies equivalent to four million six hundred
fifty thousand Spec :al Drawing Rights (SDR
4,650,000).
Section
2.(12.
The amount of the Loan may be VJithdrawn from the
Loan Account and used for the Project
ίπ
accordance with the provisions of
this Agreement.
Section
2.03.
The Borrower shall
ΡθΥ Ιο
the Fund interest at the
rate of eight per cent
(80;0)
per annum
οπ
the amount of the Loan withdrawn
from the Loan Account and outstanding from time to time.
Section
2.04.
Eχcept
as the Borrower and the Fund shall otherwise
agree, for any special commitment entered
ίπΙο
by the Cooperating
Institutίon
οπ
behalf of the Fund at the request of the Borrower pursuant
Ιο
Section 6.02
of the General Conditions, the Borrower shall pay to the Fund a fee at ·the
rate of one-half of one per cent
(O.5~Ό)
per annum
οπ
the principal amount
of such speciaJ commitment outstanding from time
Ιο
time.
Section 2.05. The interest and any other charges
οπ
the Loan shall
be payable semi-annually
οπ
1 May and 1 November in each year
ίπ
the currency
referred to in Section
2.07
hereof.
Section 2.06. The Borrower shall repay the principal amount of the
Loan withdrawn from the ·Loan Account in
24
equal semi-annual installments
of SDR
193,750
payable
οπ
each
1
tν1aΥ
and
1
November, commencing· on
1
~ovemDer
1987
and ending
1
May
1999
ίπ
the currency referred to in Section
2.07
hereof. .
Section
2.07.
The currency of the United Kingdom is
herebγ
specified·
for the purposes of Section
4.03
of the General Conditions.