Terms and Conditions of Export Development Sub-Loans Sample Clauses

Terms and Conditions of Export Development Sub-Loans. 1. The principal amount of either each Export Development Sub-loan made out of the proceeds of the Loan allocated from time to time to Category (3) of the table set forth in paragraph 1 of Schedule 1 to this Agreement shall: (a) be denominated in either Dollars or Deutsche Mark, as may be determined by the Borrower; (b) be the equivalent, in Dollars or Deutsche Mark, as the case may be, as of the date or respective dates of withdrawal from the Loan Account or payment out of the Special Accountsrespective Special Account, of the value of the currency or currencies so withdrawn or paid out on account of the goods, works and services financed out of the proceeds of the Sub-loan for the Export Development Sub-project;
Sample 1
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