(vv) “Schedule” means a schedule in the Legal Agreement; (ww) “Service Charge” means, with respect to certain Loans, a charge at the rate specified in the Legal Agreement, which shall be paid by the Borrower in respect of the principal amount of the Loan withdrawn and outstanding. The purpose of the Service Charge is to cover OPEC Fund’s expenses related to the Loan; (xx) “SOFR” means in respect of any Interest Period, the Secured Overnight Financing Rate for the period, as defined in the applicable Legal Agreement; (yy) “State” means a sovereign entity or a political or administrative sub-division thereof; (zz) “Taxes” mean, inter alia , imposts, levies, fees and duties of any nature, whether in effect on the Date of the Agreement or thereafter imposed; and (aaa) “US Government Securities Business Day” means any day other than: (i) a Saturday or a Sunday; and (ii) a day on which the Securities Industry and Financial Markets Association (or any successor organisation) recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in US Government securi- ties. 2.02 Interpretation In these General Conditions and any Legal Agreement, unless the context otherwise requires: (a) the headings of the articles, sections, sub-sections, Schedules and the table of contents are inserted for reference only and shall not be taken into consideration in interpreting the General Conditions or the Legal Agreement; (b) words importing the singular include the plural and vice versa; (c) a reference to a party is a reference to a party to the Legal Agreement; a reference to an article or section in the Legal Agreement is a reference to that article or section in the Legal Agreement; and a reference to an article or section in the General Conditions is a reference to that article or section in these General Conditions; (d) a reference to a document includes an amendment or supplement to, or replacement or novation of, that document but disregarding any amendment, supplement, replacement or novation made in breach of the General Conditions or the relevant Legal Agreement; and (e) capitalized terms have the meanings ascribed to them in these General Conditions.
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Article 3 EFFECTIVENESS
3.01 Date of Effectiveness After the Borrower or Guarantor has fulfilled the conditions of effectiveness stipulated in the Legal Agreement to the satisfaction of OPEC Fund, the Legal Agreement shall enter into full force and effect on a specified date as shall be communicated by OPEC Fund to the Borrower or Guarantor. The date so specified shall be the Date of Effectiveness of the Legal Agreement.
OPEC FUND GENERAL CONDITIONS FOR PUBLIC SECTOR LOANS
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