mentation of the Project (including but not limited to the procurement of Goods, the execution of any Contract, and disbursements), does not involve Corrupt Practice, Coercive Practice, Collusive Practice or Fraudulent Practice and that the Borrower shall put in place all necessary measures to prevent such practices. 4.06 Exemption from Taxes All Taxes in the Project Country, whether in connection with the execution, delivery or registration of the Legal Agreement or any supplementary agreement between the parties shall be borne by the Borrower or Guarantor, as the case may be. The principal of, interest, Service Charges and any other fees or charges on, the Loan, shall be paid without deduction for, and free from, any Taxes whatsoever. 4.07 Confidentiality All OPEC Fund documents, records, correspondence and similar material shall be considered as confi- dential by the Borrower and Guarantor, and shall be exempt from any form of disclosure in the Project Country, unless otherwise agreed by OPEC Fund. 4.08 Expropriation and Similar Measures OPEC Fund assets shall not be subject to any form of expropriation or nationalization, sequestration, custody or seizure in the Project Country. Similarly, the repayment of the principal and the payment of interest, Service Charges and any other fees or charges on the Loan shall not be prevented or hin- dered by restrictions, regulations, controls or moratoria of any kind imposed by virtue of any law or decree in the Project Country.
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Article 5 FINANCIAL AND OTHER TERMS
5.01 Loan Account The principal amount of the Loan shall be credited to an account opened in OPEC Fund’s books in respect of the Loan for the benefit of the Borrower (“Loan Account”). 5.02 Interest; Computation of Interest and Other Charges (a) Interest. Interest shall be payable on the principal amount of the Loan withdrawn and outstanding from time to time at the rate specified in the Legal Agreement. Interest shall accrue beginning on the respective dates on which amounts are withdrawn from the Loan Account. (b) Computation of Interest and Other Charges. Interest and other charges applicable to amounts of the Loan withdrawn and outstanding shall be computed on the basis of actual number of days elapsed/360-day year. 5.03 Commitment Fees; Front-End Fees If approved by OPEC Fund Governing Board, the Borrower shall pay: (a) commitment fees on the unwithdrawn amount of the Loan at the rate and on the terms specified in the Legal Agreement. (b) front-end fees at the rate specified in the Legal Agreement.
OPEC FUND GENERAL CONDITIONS FOR PUBLIC SECTOR LOANS
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