OPEC Fund General Conditions for Public Sector Loans April 2025
Article 1 PRELIMINARY PROVISIONS
1.01 Name and Purpose These General Conditions set forth certain terms and conditions generally applicable to Legal Agreements under the OPEC Fund’s public sector lending window and shall be referred to as “OPEC Fund General Conditions for Public Sector Loans, April 2025”. 1.02 Application The General Conditions shall apply to any public sector Legal Agreement to such extent, and subject to such modifications, as may be provided in the relevant Legal Agreement. In particular, in these General Conditions, the following terms shall apply as follows: (a) “Service Charges” shall apply to Legal Agreements in which such charges are payable by the Borrower. Where no such charges are payable, the term shall be disregarded; (b) “front-end fee”, “commitment fee” and any other fees or charges shall apply, respectively, to Legal Agreements in which they are stated to be payable by the Borrower. Where no such fees or charges are payable, the terms shall be disregarded; (c) “Loan Administrator” shall apply to Loans that are administered by a Loan Administrator other than OPEC Fund. Where a Loan is administered by OPEC Fund, Article 8 as well as any reference to “Loan Administrator” shall be disregarded; and (d) the terms “Guarantee Agreement” and “Guarantor” shall apply to Loans extended to state-owned entities, sub-nationals, political sub-divisions, or similar eligible legal enti- ties, and guaranteed by the sovereign entity. 1.03 Conflict with Legal Agreements In case of conflict or variance between any provision in these General Conditions and a provision in any Legal Agreement, the relevant provision in the Legal Agreement shall govern.
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OPEC FUND GENERAL CONDITIONS FOR PUBLIC SECTOR LOANS
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