5.04 Financial and Economic Data The Borrower shall provide OPEC Fund with all such information as OPEC Fund shall reasonably request at any time until the Loan is fully repaid regarding the financial and economic conditions in its territory, including its balance of payments and External Debt and those of its political or administra- tive subdivisions and of any entity owned or controlled by, or operating for the account or benefit of, the Borrower or any such subdivision, as well as those of any institution performing the functions of a central bank, exchange stabilization fund or similar functions for the Borrower. 5.05 Prepayment (a) The Borrower may, by not less than forty-five (45) days’ notice to OPEC Fund, prepay all or part of the principal amount of the Loan together with any outstanding interest, Service Charge, and any other fees or charges in advance of maturity. (b) In case of partial prepayment, OPEC Fund shall, at its discretion, revise the amortization schedule of the Legal Agreement in order that subsequent repayments shall be made as and when due in accordance with the new amortization schedule. (c) Prepayment Premium. OPEC Fund reserves the right to charge a prepayment premium on any amount of the Loan to be prepaid. The prepayment premium shall be an amount reasonably determined by OPEC Fund to represent the cost to OPEC Fund of redeploy- ing the amount to be prepaid from the date of prepayment to the maturity date of such amount, but shall in any case not exceed one per cent (1%) of the total amount to be prepaid. 5.06 Repayment The Borrower shall repay the principal amount of the Loan withdrawn and outstanding to OPEC Fund in instalments in accordance with the provisions of the Legal Agreement. 5.07 Place and Currency of Payment The Borrower shall prepay (as the case may be) or repay the principal, and pay the interest, Service Charges and any other fees or charges to OPEC Fund at such place as OPEC Fund may reasonably request. OPEC Fund may, in its sole discretion, request payment to be made in a currency other than the Loan Currency according to the market exchange rate prevailing at the time and place of payment. 5.08 Business Day All payments due under the Legal Agreement shall be effected on a Business Day. Where the day on or by which a payment is due to be made is not a Business Day, the payment shall be made on the next succeeding Business Day. 5.09 Bank Charges All charges imposed on payments due under the Legal Agreement shall be off-set based on a shared principle, whereby each party bears the charges imposed by its bank and the bank’s corresponding bank.
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OPEC FUND GENERAL CONDITIONS FOR PUBLIC SECTOR LOANS
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