Article 8 LOAN ADMINISTRATOR
8.01 Privileges of Loan Administrator Where a Loan is administered by a Loan Administrator, the Borrower shall, in addition to discharging any obligations toward such Loan Administrator as provided for in these General Conditions: (a) cooperate fully with such Loan Administrator to ensure that the purposes of the Loan are or will be accomplished; (b) exchange views with OPEC Fund and the Loan Administrator regarding the progress of the Project and the achievement of the purposes of the Loan; and (c) promptly inform OPEC Fund and the Loan Administrator of any condition which inter- feres with, or threatens to interfere with, the progress of the Project or the performance by the Borrower of its obligations under the Legal Agreement. 8.02 Consultation in Respect of Loan Administration and the Loan Agreement The Borrower shall consult with OPEC Fund before agreeing with the Loan Administrator on amend- ments to any condition related to the execution or administration of the Project. No such amendments shall be deemed to be approved by OPEC Fund without the prior written approval of OPEC Fund. 8.03 Incorporation of Loan Administrator’s Conditions in Loan Agreement Notwithstanding anything in Article 8 to the contrary, the Borrower shall, in so far as is consistent with the Legal Agreement, abide vis-à-vis OPEC Fund by all such conditions related to the execu- tion and administration of the Project as the Borrower accepts in its legal agreement signed or to be signed with the Loan Administrator for the partial financing of the Project. References to the Loan Administrator in such agreement being deemed for the purposes of this Section to be references to OPEC Fund.
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Article 9 SUSPENSION, CANCELLATION AND ACCELERATION OF MATURITY
9.01 Suspension OPEC Fund may, by notice to the Borrower and the Guarantor, suspend the Borrower’s right to make withdrawals from the Loan if: (a) a default occurs and is continuing for up to ninety (90) days in the payment of any instal- ment of the principal, interest, Service Charges, front-end and/or commitment fees and any other fees or charges under the Legal Agreement or under any other agreement by virtue of which the Borrower has received a loan from OPEC Fund, notwithstanding the fact that such payment may have been made by the Guarantor or an interested third party; (b) a default occurs and is continuing for up to ninety (90) days under the Guarantee Agreement or under any other agreement between the OPEC Fund and the Guarantor; (c) a default occurs in the performance of any obligation on the part of the Borrower or
OPEC FUND GENERAL CONDITIONS FOR PUBLIC SECTOR LOANS
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