Guarantor under the Legal Agreement, other than a default covered under paragraphs (a) and (b) above, and such default is continuing for up to ninety (90) days after notice thereof has been furnished by OPEC Fund to the Borrower or Guarantor; (d) OPEC Fund has ascertained the occurrence of Corrupt Practices, Fraudulent Practices, Coercive Practices, Collusive Practices or other unlawful act in connection with the pro- curement of Goods or the execution of any Contract, or in other aspects of Project imple- mentation and the Borrower or Guarantor has not taken timely and appropriate action satisfactory to OPEC Fund to address such practices or act; (e) the Borrower’s right to make withdrawals under a loan with a co-financier for the Project has been suspended or cancelled, or becomes due and payable prior to its agreed matu- rity unless the Borrower or Guarantor shows to the satisfaction of OPEC Fund that: (i) such suspension, cancellation or full acceleration was not as a result of the Borrower’s failure to perform its obligations under the co-financing agreement; and (ii) adequate funds for the Project are available from other sources on terms and con- ditions consistent with the Borrower’s obligations under the Legal Agreement; (f) OPEC Fund has suspended the Borrower’s or Guarantor’s rights to make withdrawals under any other agreement with OPEC Fund due to failure to meet its obligations under that agreement or OPEC Fund has suspended or cancelled the withdrawal rights of a bor- rower under a legal agreement guaranteed by the Borrower or Guarantor due to failure of that borrower or Guarantor to perform any of its obligations under such legal agreement; (g) OPEC Fund determines after the Effective date that, prior to such date but after the signature of the Legal Agreement, an event occurred which would have entitled OPEC Fund to suspend or cancel the Borrower’s rights to make withdrawals under the Legal Agreement had the event occurred after such Effective Date; (h) OPEC Fund determines that any representation made or information provided by the Borrower or Guarantor and intended to be relied upon by OPEC Fund in providing the Loan, or any representation made by the Borrower or Guarantor in or further to the respective Legal Agreement, is incorrect in any material respect; (i) the Borrower or Guarantor has assigned or transferred in whole or in part, without OPEC Fund’s consent, any of its obligations arising from the respective Legal Agreement to a third party or disposed any property or assets financed in whole or in part out of the Loan Proceeds; (j) OPEC Fund considers that there is a material change in the legal status, structure and operations of the Executing Agency, which affects the Executing Agency’s ability to implement the Project or which makes the achievement of Project objectives improbable; (k) OPEC Fund has suspended all operations in the Project Country; (l) the Borrower or Guarantor is in breach of any other agreement with OPEC Fund; or (m) any other event specified in the Legal Agreement occurs.
9.02 Cancellation (a)
Cancellation by the Borrower. The Borrower may, by notice to OPEC Fund, cancel any amount of the Loan which the Borrower has not withdrawn prior to the giving of such notice.
OPEC FUND GENERAL CONDITIONS FOR PUBLIC SECTOR LOANS
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