Section 2.06. Place of Payment. The principal of, and interest and other charges on, the Loan and the Bonds shall be paid at such places as the Bank shall reasonably request, except that payments under any Bonds held by others than the Bank shall be made at the places specified in the Bonds.
Article III
Currency Provisions
Section 3.01. Currencies in Which Proceeds of Loan Are to Be Withdrawn. The Borrower shall use reasonable efforts to purchase goods with the currencies of the countries from which such goods are acquired. The proceeds of the Loan shall, to the extent that the Bank shall so elect, be withdrawn from the Loan Account in the several currencies in which goods are paid for. The Bank shall be under no obligation to permit the proceeds of the Loan to be withdrawn in any currency except the currency in which the Loan is denominated. Where the amount of the Loan is expressed in any one of the following manners:
(a) in a specified currency (e.g. ". . . . . . . . dollars"), or
(b) in a specified currency or the equivalent thereof in other currencies (e.g. . . . . . . . . dollars or the equivalent thereof in currencies other than dollars "),
or
(c) in various currencies equivalent to an amount in a specified currency (e.g. "an amount in various currencies equivalent to . . . . . . . . dollars "),
then for the purposes of this Article, the Loan shall be deemed to be denominated in such specified currency (dollars in each of the above examples).
Section 3.02. Currency in Which PrincipalIs Repayable; Amount of Repayment; Maturities. The principal of the Loan shall be repayable in the several currencies withdrawn from the Loan Account and the amount repayable in each currency shall be the amount withdrawn in that currency. The foregoing provision is subject to one exception, namely: if withdrawal shall be made in any currency which the Bank shall have purchased with another currency for the purpose of such withdrawal, the part of the Loan so withdrawn shall be repayable in such other currency and the amount so repayable shall be the amount paid by the Bank on such purchase. Except as the Bank and the Borrower shall otherwise agree, the portion of the Loan to be repaid, under the provisions of this Section, in any particular currency shall be repayable in such instalments, not inconsistent with the instalments set forth in the amortization schedule to the Loan Agreement, as the Bank shall specify. Any premium payable under Section 2.05 on prepayment of any part of the Loan, or under Section 6.16 on redemption of any Bond, shall be payable in the currency in which the principal of such part of the Loan, or of such Bond, is repayable.
Section 3.03. Currency in Which Interest Is Payable. Interest on any part of the Loan shall be payable in the currency in which the principal of such part of the Loan is repayable.
No. 3007
