Selanjutnya

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Oe ｎ ･ ､ ｣Ｚ＼Ｎｾ ｮ､ｳ ＼ｊ＠ ｨ ｶ･ ｳ ｴ Ｎ ｲｩｲ ＱｬｪＮＧ Ｚ ｢［ Ｚ ｲ ｾｴ＠

Vll()t'

ｏｮｴｷｩｫｫｾﾷｬｩｮＳｳｬｾ､｣ｮ＠

NV A. GHEE:tn;rn <late d Ifo v cmb cr

3, 19 77

l.rn \;we en

1. 'l'h e Gove1·nme nt of the Republic of Indoirns i a, hereinafter called

"BorroHc r"

and

2. De Nedcrlandse Investeringshank voor Ontwikkelingslanden N.V., es t a blished at The Hague, The NP.therlands, hereinafter called

"tl1e B;.rnk";

WHEREAS:

'rhe Government of the Kingdom of The Netherlands offered by its letter

dated July

5, 1977

tp

the Government of the Republic of Indonesia - which

offer wa s accepted on

August

18, 1977

-

to make available to Borrower

a

loa n up to an amount of Hfl. 100.000.000,-- (one hundred miJ.lion

Net herlands Guilders) for the financing of specific projects of which

a

tentative list is annexed to ,· the said letter of the Governmen't of

the Ki ngdom of,.The . Netherlanda.

The Bank is prepared to grant to Borrower the ｡ｦｯｾ･ｭ･ｮｴｩｯｮ･ ､＠ loan

up

t o

a n

amount of Hfl. 100.000.000,-- Jone hundred million ·N·etherlands guilders).

NOW

IT IS HEREBY AGHEED

AS FOLLOWS:

The Bank shall extend to Borrower and Borrower shall accept from the Bank

a loan up to an amount of HfJ.. . 100.000.0Q0,-.7 .( .o.ne hundred million

Ne t herlands guilders) on the terms and c6riditi6n s set forth in the following articles.

Article 1.

(1) As from the ､｡ｾｴｨ･＠ loan agreement will bec om e effective in accord a nce

with ｾｲｴｩ｣ｬ･＠

26

of the loan ｡･ｲｾ･ｭ｣ｮｴＬ＠ the amount of the loan

shall be put at the disposal of Borrower with observ a nce of the articles of the . loan agreement.

ｔｾ･＠ drawings under the loan shall be cha rGcd to .· a Project Loa n

Account Indonesia

1977.

(2) No disbu rs ements shall be' ·'8.::t"lowed after December

31, 1981

unless

oth e rwise agreed upon• '··'

Article 2.

(1) Borrower shall pay on the outstanding Rmount of t he loan u rate of

intere::;t of

'+.3/I+

%

(four and three-quarter per cen t) per annum,

which interest shall accrue from the respective dat es of ' drr wing.

(2) The interest on the loan shall be due and payable

ｳ･ｭｩＭ

｡ｾ ｮｵｾｬｬｹ＠

on

January 31 and July 31 of each year.

ｾｲｴｩ｣ｬ･＠ ｾｾＮ＠

( 1) The lonn shall be used by Borrower for the financing of pr ojects

men-tioned in or to be added to the list of projects ann exed to the le tte r

dated.J u ly

5,

1977

of the Government of the Kingdom of The Net

her-lands to Borrower. About the financing of ench specific project out

of the ｬｯ｡ｮｾ｡ｧｲ･･ｭ･ｮｴ＠ has t8 be renched by the Indonesian National

Planning Board (he·reinafter called "Bnppen r-u:;") and the Netherlfmds Embassy in Jakarta. The Netherla nd s Ministry of Foreign Aff nirR wil l

inform the Bnnk on the trnnriac tions which rnRy be finnnced out of th e

loan.

- (2) Wherever

u s e4

,.

. I

•

(2) '

.

useo J..n and the s e rv Ｚｩ｣･ｳﾷｾ＠

2

-thi s ﾷ｡ｧ ｲ･･ｭ･ｮｴｾ＠

t e:cm 11 _{supplier "}

the term "goods " shall shal l me an supplie r of

Ut:

ｎ ･ｲｩｲＮｾＡｦＺ ｷｲ･ｩ ＡＮＴ ･＠

ｦｲｬ Ｇ ｴｩＺｾ ［ ｴｲＺｲｩｮｾ ｳ ｢［ＬｾＡ＼＠

V'.J( Jr

OnlwikJ..nling5 nd('.-n

NV

mean good::; a.nd n;oods o r

(3) Wh er e er u sed i.r. thi s ::,3r 8 rn 'nt , the term 11eli gi ble sou rce cou r; try11

shall ean one of the

countr:es

oth e r than The Netherlands , mentioned

( . l ")'

in the arrangeme· t(s) c cn!cerned, a.nd the Gov e r nmen t of 'l'he Kingdo ,

which arra r g m . nt(s) goods to be

c,1ased in these ｣ｯｵ ｮｴ ｲｩ･ｾＧｩｮ＠

if and when made, be t we en Borrower

of The Aothe r lands1 • y v i r tu e of

f i nanced out of the loan can be pur

-ｾｨ･ｮ＠ Bo &row er e ci des to dra w

any

a mount o n.th e l oan, Bor r ow e r shall

r _quest such drawin g by se n di r1g the B""nk a written reques t as

men-t ione d L_ armen-ticle 7, a:rti.cl e

8,

<.:i.r t.:i.c1e Ｙｾ＠ a rt ic l e 12 , article 13 o

x-a r ti c le 14 of th i s Agre ern e1 t ac c ompan i ed by a copy of the pur c h ase

-contrac t c oncern e d.

(-:> _｜ｾ＠ ;'• I _{dhen ｂｯｲｲｯｾ･ ｲ＠ aecide s, in order to ensu r e the · i mp lemen t ation of a p ro-}' • • •

ｾｬ･｣ｩＮＺＬ＠ to dra"t fo 1° use in ln d on -iu a ny amount on the loan for the

f inancing oft 1i s prrje ct

before tl1e purchase-contruct(s) hav ing b e en

conc l uded., Bo rr ov.'er <';,tall reque st such a drnwing by sendi ng the Ba nk

a w_ i tt en raquest ｡ｳ Ｎ ｭｾｮｴｩｯｮ･､＠ in article 15 of Ghis Agreement .

ｬ｜ ｟ｲ ｩｾ＠ cl e __

.2, ..

The drawings on t he loan s hall be ma d a ei ther

(a, through a n ｵｮ ､･ｲｾ ｡ｫｩｮ ｧ＠ to r eimb ur s e a bank i n The Net herlands which is

auth or ized by a bank in th e c ountry o f Borrower to

pay

the Netherland s

ｳ ｵｰｰｾｩ･ｲ＠ under a letter of cred i t a ainst stip u lated ､ｯ｟ｵｭ･ｮｴｳ ｾ＠ the

for mer ban h r einafter referred t o as the 11_{Heth e rl an ds pn yi ng ｢｡ ｮｫ} ＱＱ _ｾ＠

An unde _ taking to ｲ ･ ｩｾ｢ ｵｲｳ･＠ will b e considered to b e a d rawing o n the

l oan on the date of re imbursement

or

(b)

in ca ses in

which such a method o f pa ym ent is more adequat e - by

dir ect payment by th e Bank t o t h e account of the Ne ti er l nnds ｳｵ ｰｰｬｾ･ ｲ＠

with a bank i n The Ne t 1er land s

0 •

(c)

by

£Oimburs ment to B rrawe r o f th

ｰ｡ｾｭ･ｮｴｳ＠

made by

purchase r s

in

the c ount ry of Bor rower to

the

s uppliers i n The Net h e rl and s

o r

(d) by ､ ｾｲ･｣ｴ＠ p-yment by th e Bank t o t h e acc ou nt o f the Ne t h e r l a nd s

sup-pl i e_ with a benk in The

Ne t herlan ds

1 upon request of the

Rijksin-k o opburea.u at Th e Hs.gue, herein a fter c alled 11_{H. ｉｾｂＮ＠} 11

9 in . the cases

ｦｾｲ＠ whi ch ｐ ｾ ｉＭｂＮ＠ is en ti tled to draw on t he l oan.

Article

6.

--

-The Bank sh al l exam ine ea ch applicat ion on the t e r ms and cond itions of

this a greement a n d h av ing fo und the ｡ ｰｰ ｬｩ｣ ｾｴ ｩ ｯｮ＠ i n order , sh a l l in form

Bo rro1_{r>1<H "} o f i ts ｡ｰｰｲｯｶ｡ｬｾ＠

ｾｲｴ＠ icle _]_ ..

(1) In th e case of a r ticle

5

( sub a ) the Bank sha ll un d ertake to

re-imburse the Net h er l an d s pay in g b ank af t e r e eipt o f a wr itten

:re quest o f' Borr o we r· f or such un underta k ing ｴ ｯｧｴｾ ｴｨ ･ ｲ＠ 1d th s. co py

o f th e relativ e lette r o f c redi t .

•

ﾷＭＭｾＭＭ ﾷ Ｍ ＭＭ

ＭＱｾ ｶ｣ ｾ［ｴ ｐＱ＠ ing .. 4xmk

vtxn

o.,t ｷｩ ｨ ｫ｣ｬｩ ｮ ｾｲ ＧＱＺ Ｑｾ｣ｬＰｮ＠

NV

( 2 ｾ＠ '.!.' h e r eq u e st implie s the uncondit i onal e.nd irrevocable v.u thoriza ti on

fr o m ｂｯｲｲｯｷｾｲ＠ to ma ke the payment pursuant to the undertaking to

the

Neth er l a nds paying bank in d ue time.

( 3) '.L'h e am ou n t of the commitment by the Bank s hall in a l l ci rcumstancaa

be e x p r e ssed in Netherlands currency·.

(It) Upon rec,_,ipt of a sta t ement of the Nether l ands paying ba nk that the

docume nts concerned have

been

found

in

a ccordance with the terms

and conditions of the letter of credit and h a ve been delivered to

it,

the Bunk shall be discharged by Borrower by the reimbursement

without accepting any responsibility for the documents being in order or having been d e livered to the Netherlands paying bank.

(5)

The Bank is furthermore irrevocably authorized to extend the

currency of an und e rtaking as mentioned upon receipt of a state-ment of the Ne therlands paying bank th a t the currency of the

under-lying letter of credit h a s been duly extended.

Article

8.

In th e case of article

5

Ｎ ｃｾｵ｢＠ b) the Bank shall make the direct payment

c o ncerned i n Netherlands guilders in favour of the Netherlands supplier upon receipt of a written request thereto from Borrower for the

respect-ive

payment, dbfinin g

specifically the amount to be paid,

the

name and

address of the firm to which .the amount has to be paid and the purchase-contract co n cerned.

In

the case of article

5

(sub c) the Bank shall reimburse Borrower in

Netherlands guildera through the intermediary of an authorized bank in

The Netherl a nds for th e payments meant in a rticle

5

(sub c) in The

Ne th e rlan d s ｡ｦｴ･ｾ＠ receipt of a writt e n request thereto from Borrower ,

the sup p lie r ' G r e cei p t, the certificate of p a yment ·from the bank making

t h e pa y ment and a copy of the purchase-contract.

(1) In the ca s e of article

5

(sub ct)

R.I aB.

is entitled to exercise

on behalf of Indonesia the right to make drawings for a specific

project in accordance with the loan agreement on the basis of a

Le tter of Authorization as mentioned in paragraph (2)a. of this

article. When making drawings in this respect, R.I.B. shall bind

Indonesia fully to any amount and in any respect on this subject.

( 2 ) a. .. When issuing a

I.etter of

Authorization. in favou r

o'f

R.I.B. to

p l ace

the order(s) concerned, ｂｾ ｰ ｰ･ｮ｡ｳ＠ shall send through the

Financial and Economic Development Co-operation Department of

the

Netherlands

Ministry of Foreign

Affairs two cop i es of the

Letter of Authorization to ｾｾｉＮｂＤ＠ and to the Bank respectively.

The Letter of Authorization shall be addres s ed both to R.I.B.

and t o the Bnnk and both copies s hall be duly signed. Jn the

Letter of Authorization Bappenas sha l l re q uest the Bank to reserve the amount mentioned therein on the loan for

disburse-ment on request of

R.I-B.

to the aupplier(s) concerned.

-r

·'

...

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•

Oe

ＱＱＬ ｾｪ･ ｲｬ ［ Ｚ ｭ､ｳ･＠

ln";;·slcr1r;r;·;IJ:inlt

ｙｾＢｻＮＧｴ＠

{Jnt ｎｩｾ Ｇ ｋ｣Ｑｩ ｮ ｴ［ｳｬ｡ｮＶｾｾ｜＠ NV

b. Bapponas ｾｳ＠ obliged to fu rn ish to the Bank i n writin g sufficient

e v idence of au th ority of its reprer;entati v e or r e presentatives

a u thorized t o s i gn the dupli c at e copy o f a letter of Au th orizat ion

as mentioned i n pa r agraph ( 2 ) a. of thi s a r t i cle- Moreo v er ,

Bappen&s shall furnish to the Bank the spec i me n signature of

each such person. These ｡ｵｴｨｯｲ ｩ ｺ｡ｴｩｯｾｳ＠ r e ma in in force until

tbe Ban k h a s been i n for med by Bappc n as in 1v ri ti n g that t hey ht-i.ve

｢･ｾＺｮ＠ cancelled.,

(3)

Aft e r having received from Bnppena s a dup li cate copy of a Le tter of

Authorizat i on in favour o f ｒＮｉＮｂｾ＠ as ment i o n e d in . paragraph (2)a.

of th is article the Bank sh a ll te s t the appl i cation ma de therein

on the terms and conditions of t hi s loan agreemen t and having found

tl1e application in order shall inform Bnppenas and R.I . B. i n c ase

of approval in writing t hat t he reservat ion c o nc e rne d has b ee n made . The Bank shall se nd a c o py o f i t s approval t o Ba.nk Indone s i a i n order to e n a ble the lat t e r to open a Letter of Cr edit with re s pe ct

to th e order(s) concern e d in f·:i.vour of ｒ Ｎｬ･ ｂｾ＠ with the Bank·.

(l•) Wh e n R. I.B. decides to draw a ny amount on t h e loan for dis

burse-ments for goods,

freigh t

or in s urance under a re aer vation as

men-tioned hereabove, R.I. B. sha l l a pply for such disbursement by sen

-ding the Bank a written request . This request shall spe cifical l y

define th e· amount expressed i n Netherlands g lilders 1 t h e na me a nd

address of the firm(s ) to wh i ch t h e amount has to be paid, the

manner of payment and in so far it concerns the paymen t of goods,

the rel evant order(s).

(5)

Tl1e Bank s hall on l y e ffectu a t e a wri t t en r equ est as ment ioned in

paragraph

(4)

if the Bank h as rece i ve d a L et ter o f Credit as me

n-tioned i n ｰ･ｲ ｾ ｧｲ｡ｰｨ＠ ＨＳ Ｉｾ＠ and if the Ba nk h as receive d the

document(a) me n tio n e d in the re levant Letter of Cre d it nnd any am e nd

-ment there on

toge t her

with a ｷｾｩｴｴ･ｮ＠ confirma tion from R.I .B.

eta.t:i. n.g

that

r:!.11 th e terms an d cond iti ons of the relevan t Letter

of

Credit (inclu s i ve

any amend.eht th ereon ) a re

c omplied with.

If the Let t er of Credit in the form mentioned in paragraph

(7)

of this ar t icl e will not have been ope ed with t h e Bank before t he date cf rec ept i on by the Bank of the relevan t wr i tten request men -tioned in paragraph (4), the Bank shall be entit led to make the payment concerne d withou t the rel evan t Lette r of Credit against

receilJt of the do c uments conce:cne d , if any avai l a ble. The Bu n k

shall-send a copy of e ach Letter of Credit (inclusive a ny

amend-ment th ere o n) r e ce ived from Bank Indonesia t o R. I .B. The Bank

sha l l inform R . I.B. of the effectuation o f each payment made by

the Bank under t h e loan.

(6)

In the ca s e that R.I.B . wa nts to make (an) amendment(a)

on . a

Letter of Cre d i t received by the Bank from Bank ｉｮ､ｯｮ･ ｳｩｾ Ｌ＠ R.I.B.

ｾｨ｡ｬｬ＠ subm i t to the Bank a requ est for such amendme n t( s ). The

Bank shall send a copy of last .. mentioned re que st

t0

Bank Indonesia

in order t o enable the latter to amend the Le tter of Credit as

r eque sted b y R.I.B.

-.(

t.'

:e

ﾷ ｾ＠

5 ...

. ···n;;-. ｎﾷｾ､ ｲＬ Ｌ＠Ａ ｾ ｮ､ ｳ･＠

lnvcsler Ｚｮ ＼［ｾ Ｚ＠1nl< voor

ｏｮｴｷｩｫｨｾｬｩｮｧｳｴ ＮＱ ｮ ､ｴＺＺ Ｑ_｣＠

tlV

(7)

Each Letter o f Credit must cont ain a clau oe authorizing R.I.B.

to mnk c a l l. the ｡ｭ｣ｾ､ｭ･ｮ ｴ ｯ＠ a nd

ar r nngementG

in tl1e re le vant Le tte r

of ｃｲ･､ｩｾ＠ and the o ventual ｡ｭｾ ｄｾ ｭ ･ ｮｴｳ＠ thereon necessa ry for t he

pr oper ･ｸ Ｎ ｣ｵｴ ｩｯｾ＠ of t h e or d er(sJ c once rn ed fo r t he case that an

amendment and / or ar r a ngemen t in the relevant Letter of Credi t will

not ha\r e been re ceived by t h e B8.nk from Be.nk Indone:c;ia before the

date of ｲ｣｣ｾｰ ｴｩｯｮ＠ by the Ba n k of t he re levant wr i t ten re qu es t

menti oned :i.n paragruph (If), in ord e r to e i.a l l e ｒｾｉ＠ .. B .. t o a.l tc r

the relevant Letter o f Credit i n conformity wi t h the request ｴｨ･ｲ･ｾ＠

to o f ｒｾｉ Ｎ ｂ ｵ＠ as m"'ni:ioned i n pnragraph (6 ) . Fu r t herm or e e ach Letter

of Credit shall contain a c l au s e stating that paymon t under t he rele v an t Letter of Cr e di t s hal l o n ly tak e p l a ce a fter receipt of a

requ es t :fror,1 ｒ ＮｉｾｂＭ a s rr.en t ion ed in paragraph (li) i-:rnd t hat such

pa ym ent shall on l y be made i n a man ne r as mentioned in s aid r e q u est

and also ｾ ｦｴ･ｲ＠ re ceipt from R. I .B . of ｴｨｾ＠ wr i t ten co nf i rmation

mention ed in paragra ph

(5).

The Ba n k sha l l in form Ba n k I nd o ne sia of e ach amend ment or al t era

-tion made by R.I . B. in a ny Let t er o f Cre dit .

( 8)

Tho Bank is n ot respons i ble f or t he control l ing o f t he docume n ts

inclu s ive the w:r:i.tten con firm-s t ion mentioned. i n para8raph ( 5 ) ..

The Bank shRl l send ail t h e docu ments inclusive the writte n

con-firmation of th e

Ral . B.

a s men t i oned i n paragraph

( 5 ) ,

re c eived

f r om

R.I.B . ,

to Ban k Ind onesia tog e t her wit h a schedule o f rem i

t-tance 11boiJt t h e relev ant :payment mad e by the Dank o n requ e st o f

ｒＮｬｾｂ Ｖ＠

In t hc . c a ee that arrangement(s) as ment i oned i n pa r a graph

( 3)

o f artic l e

3

a.re me.de between Bo r ro wer a.nd the Gove rn me nt o f the

Kingdom of The Net h e rlan ds by virtua of wh ic h arra n gement (s) goods t o

be f inanced out of the l oan can be pur chas ed i u nn elig ibl e ｾｯ ｵ ｲ｣｣＠

country (not in clu ding Indonesia sin ce payments to su p p li e rs in this

country will be mad e i n accorda nce with a r ticle 1 4 b elow ) 1 t h e drawings

e n the _ loan

shall

be mad e - such c ontr ar y to a rt i cle

5 -

either

e) thr ou g h an u n dert a kin g to r eimbur se a bank in

the

co·ntry of Bo r

-roi>rn r which has au t horiz e d a b ank in an e lig i ble s o urc e cou ntry

to p ay the s up pli e r in th a t c ountry under a l ette r of credit again s t

stipulated d ocuments1 the former bank h e r einafter re f e rred to as the

"op e n ing bank", and t h e lat t e r bu nk her e in after ｲ ｣ ｦ･ｲｲｾｾ､＠ to as t h e

11_{payin g bank" . An underta k ing to reimburse will}

qe

_{con si dered to}

be a drawing on the l oan on the dat e of r eim burse me nt

or

b) by

r e imbursement to

Borrower

of

t he p ayment s ma de by purchasers in

the c ou n tr y of Borr o wer to the supplier s of t he g oo ds i n a n eligib l e

sour c e

c o u n tr y

or

c) i n another

way

to be a gre ed upon be t ween Bo r rower and the Bg nk .

ｾﾷ＠

---·

Arti c le 12 ﾷｾ＠

Ａ

ｉｾＬ＠

'

I

ｾ＠

f·

ｾＮ＠

i

f

l

I

1.

r.

:e

·- 6

ｾＭ

ｾｩｬｬＮﾣＮｾＮｓＺＮＭｾＱ＿ＺＮＢ＠

')(!' " ... ... .

-·-Nt'( k.:li.1nd-.e !i?Vc·,te11n<:l'Jxw11t

V()()f

011twikkclingo.l;inck,n

NY

( 1 ) In the ca s e of article 1 A ( sub a) t he Bank s ha ll undertake to

re-imbur sH the ·op<min15 bnnk .fter receipt of the 1ri t ten raquest of

Bor:ro1..r(, r for r.;uch · n und e r t<i.l -· 1113: t ogether with u copy of the r ela

-t1 ve le t t e r o f cre d it.

(2 ) The reques t implies th e unconditional ｡ｮｾ＠ irrevocable a uthorizat i on

o f Borrowe r to ma ke t he pay men t pu r suant to the undertaking t o t h e

op e ning bank or to the p a ying ｒｾｾ＠ if the op ning b a nk will reques t

t he Bank s u ch meth od of pay ment as the case may occuro

(3)

Th e Bank shal l take tho ap £r0prin t e measures to ｣ ｯｾ｣ ｲ＠ if p o asib l e

the exchange risk batwe en th e Noth e rlandF currency and the fo r eig n

c urrency in which paym e nt u nder th e lett er of cr e d i t has t o b e per

-f ormed , at the ti me o-f ac c ep t ing t h e undertaki ng to reimburse in

conformity with t l1 e f oreg oing para graph s an d to ho ld the exchange

ri ck 6overed s u bseque ntly , beinG t h e excha nge risk in al l c ir c

um-s t anceum-s fo r a6count an d risk of Bo r r ower.

(4)

Tho c o sts o f the cove r a ge me n tio ne d in the precedi n g paragraph are

for the account of Bo r rower and the Bank is ｨ ｾ ｲ･ｷｩｴｨ＠ｩｲｲ･ｶｾ｣｡ ｢ ｬｹ＠

aut h orized by ｂｯｲｲｯｷ･ｾ＠ to draw on t he loan for the payment of these

c o o t s .

( 5) · 'I' he Bank shall reimbun·e the open i n g bank 1.. r th e po.y ing bank as t h e

case ma y be . Pa ragr a phs

( 4)

and

( 5)

of a r ticle

7

ore appl i ca b le

rnutatis mutandis.

Ｈｾ Ｉ＠ I n so far as the pr ov i sions5 mention e d in this article 1 ca l l f or a

f ur t her elaboration in a specific case, parties s ha l l ag r ee th ere on o

A

r t

i

c

J.

e

_j]_.,

In the case of article 1 1 ( sub b) th e Bank sh a ll rei mb urse Bor r owe r i n

Ne t herl a n ds gu ilders th r ough the i n t er mediary of an a uthorized b ank

in The 1'<etherlancLs for t he payments me nt i n a 'rt icl e 1 1 ( c ub b) a.f t 12 r

re c eipt o f the writt e n r eq u eGt thereto f r om Bo rrower, the suppl i er1_s

reccip t 1 the c e rtificate o f pa y men t from the bank mrking th e payme n t

a n d a c opy of the pu r c h a se - contract.

Ａｴ｟ｲｊｾ

Ｎ ｩＲＱｾ

｟ ｊ｟ｾｾ＠

•

In the ca s e the eligi ble s o urce c ountry in ｡｣｣ｯ ｲ､ｾｮ ｣ ｣＠ with ar ti c l e

11 (sub a) is Indonesia n nd pa yment has t o be made to a supplie r in

I n donesia, Borrowe r sha l l r equest the Bank to pay th e said suppl ie r

by sending t he Bank a r e quest thereto accompan i ed by a copy of t he

aupp1icr ' 12 in.voice d u J.y appro v e d. b y ｂｯｲ ｲ ｯｾ Ｑ･Ｚ｣＠ a.nd a copy of t he pur c hase

-contract c oncerned.

!!J.·

t

ｾ ｾＵＺＺＲＺＤ ＭＭ ｾｌ＿ＮＢ＠

I n the c ase o f parag r ap h 2 of ArticJ.e

4 ;,

the Ba nk shall pay to Horrower

the am ount concerned af t er receipt o f t h e written r e ques t there t o f rom

Bo rrower , ｾ ･ ｦｩｮｩ ｮ ｧ＠ s p ec i fically to which projec t the f u nds ｣ｯｮ｣ ･ ｾｮ･､＠ ar e

d e stined and defining as much a s po ssib le the use which i s to b e . made of the said funds ..

I

i'

I

I

( 1 ) The loan shall be r epa yab le :l..n twenty·- three c crnse c u ti ve an m ial in

-stalment s, th e fi r s t o f whi c h shall be d ue un d payabl e on t he l ust

day of the n i ne t y- si x t h calen dn r month after the da t e f i rs t ab o v e

/

l

r

.I

'1

!

r

I,'

7

-·o;;- .. ·-· ..

N<.:df1:I, ｭｾ ﾷ｢ ｩｾ＠ ｢ｖ ＨＡＮＬ ｬ ｾＺ ｦ＠ｩ ｩＱ ＨＩＧＢ ［Ｎ ｢ｾ ＱＱ＠ ｾ＠

voor

( lf it wil--!--1,,lings!.anckn

tlV

( 2 ) T lHi f :.ir !·t r e.pay-rne nt with r c ::o p.ryct t o th e lo a n wi11 a mount to

H fl c 11. }116.200 ,--- ( fo u r mill i o n th r ee hundr ed 11nd forty·-t>ix

th ou::-; a nd two bt nd r ed Ne t h e r L rnds guilders) and th e fol lm.;ing

on e:.:; to H f L li. 3117Q 90 0,-- ( four ni l lion thr e e h u ndred a nd ｦｯｾ ｴ ｹＭｾ Ｚ［ ･ｶ･ｮ＠

thou r.:anrl. nin e li nnd rEl cl Ne thQrlnn<l :s ｧ ｵｩｬ､Ｑ ｾｲｳ Ｉ＠ each.

(1) In case Bor rowe r fails to p ay ·nt e r e st on t h e re spe c tive due dat e

the a mou n t unpnid wi 11 be incr ease d by a cornrwn ga tion erp:al to

nin e t een f orty-e igl1U1o f one per cent (19/4 8

%)

p er calendar month

as lo ng as th e f ai l ur e c o n ti nu es - e part of a mon t h t o c ount as n fu1J. mon th .

( 2) In ca se Bo r rowe r fails to perfo r m any of i ts obliga tion s under this

agree ment a nd /or a ny oth e r l oa n a g r ee meri t betwe e n Borrower an d the Dank, Borrower sha l l n o longer b e en titled t o dr a w on the loan a nd

the out s ta n di ng a mount und e r this agreem e n t and any o ther loan

ag r e e men t betw e en Borrower and t he Barik s hall be due and

collect-nble nt on ce uron noti f ication in wri t ing of the f e,il ure n nd the

sa i d amo unt p lu s interest a n d com pe n s at io n s hall b e paid bv Bo rrower

to th e Bank ' f ortl n.,i ith . Ho1-1 ever , as far n.s t he then prevl.lilj_ne;

cir-cumst a n c es at the d iscre ti on of the Bank will

permit,

t he Bank s h al l

grant the 'o p port unity to Borrmver t o fulfil i b ; obJ.igAt io ns wit hin

a t e rm o f a t most sixty days.

Arti e le ·18

(1) Al l pay ments recei v e d by the Bank wil l be ap p lied i n the followi n g

ord e r:

a.

t o

paym e n t of com pensat ion ;

Oo

to.

pa yment of costs;

c.

t o

pa yment o f i nt erest ;

dci to pr.iy nH:!l t o f _L1e . l _{oub:;; tanding am ount of th e loan .}

prov i d e d that in the abov e ord e r ea rli er matu r e d deb t s wi ll rnnk abov e l a t e r mat u r e d ones .

( 2 ) All pa y ments by Borrowe r to th e Bank mu s t be mad e i n Ne the rJ. unds

curre ncy in the accoun t of t he Bank with De ｎ ･､ｾｲ ｬ ｡ ｮ ､ｳ ｣ｨ･＠ Bank N. V.

nt Am ste rd a m, wi thout any re d uctio n or set- o ff.

(3)

This agreem ent sh al l be free fro m a ny taxes (i nc lu di n g ｮｵｾｩ･ｳ Ｌ＠ fees

or impo s i t i o ns) that shall be im pos ed un der t he laws of Bo r rower or

laws in effect in its terri to ries on or in c onnec t ion with t he

ex ec ut ic- n o f the agreemen t or t he per fornm nr:: e tli e r e o f by the J3A.nk.

(4) All p aym ents of interes t Rnd r e de mp tion and all other payments to

be made by Bor rower shal l be made wit hou t d e ct uct ion for , a nd fr e e

from any t a x es ( inc l ud in g duti e s, fees and im pos itions)

thai

shall

be im p o se d un der the laws of Borr ow er o r laws in eff e ct

fn

ｾｴｒ＠

ter r it or i e s and fre e from nll r estr i ction s imp one d under ｴ ｨｾ＠ laws

of Borr ower or l aws in effect i n its t e rritori cA.

-I

ｾﾷ＠

· 8

-ｩｴｲｴＺＺｩＮ｣ｬＺ ｾ＠ 19.

ＭｾＭＭ Ｍ ＭﾷＭ ... ｾ＠

Ａｾ＠

t Jt..•,1r·d Ul<Jse ｬｴｷ ｣Ｑ［ ｴ ｲｲ Ｑｮ ｱﾷｾ｢ ［ ｵ＠ 1k

\'0 ()1

ｏｮＺ ｶＭ ｩｩｴ＼ｋ ｴ ｾＱｵｬｧｲ Ｎ［ ｬ｡ｾ Ｉ､ｮｩ＠ 1

NV

Tho Bank sha J.l se nd to Bo r rower a wr it t e n stat em ent of a l l en tries in the

bookB of t h o B;:ink in c on rrn c t:i.on wit h t h i:s ｡ｧｲ･Ｈ ｾｲｮ･ ｮ＠

t .

'.L' hi s :>ta tement sha l l

be de erned to 'nnve been a cknow le d8ed D. s corr ect by Dor.rower if obje ctio ns

o f Borro\H!r to tl e Bank du ly ju stif i ed i n writ ins hav.3 n ot bee n made

known to the Bnnk within t hirty da.v s afte r tho .s t a t emen t r elat i ng to

t he se e ntries c nn reasonably be e xp ect e d to have been received by Borrowe r.

Articl e 20.

As long as t h i s adreement is in for c e Borrower sh a ll fu r nish t o th e Bank

s uch info r ma t ion v.s rna.y e s 1ecially ｢ ･ ｾ＠ r eq ui red f or th e ｩ ｭｰｬ ･ｭ･ｮｴ｡ｴｾｯｮ＠

and ad mini s tratio n of the ag re ement .

/t r ticl e 2 ·1 .

... __. ... ...__ ..

__ __

...

(1)

Bo r r owe r

here wi th irrevocably authorizes Ba nk Indonesia ｡ ｾ＠ its

re p r ese nt a tiv e in th e perfo r ma nce of t his agreem e nt. The s p ecime n

s i gnature R of t he per so n s enti t l ed t o repres e n t 3ank Indonesia towards t h e Bank s ha ll be fu rnished t o the Ba nk .

(2) Ban k Ind o n e sia ｳｨｾｬｬ＠ bi nd Borrower fu l ly t o any

amou nt

and i n a ny

re E> pec t o

(3)

Th e aut h or i zat i on ｲｮ･ｮｴｩｯｮｾ ､＠ i n t he f irst paragraph of t h i s a rti c l e

s ha l l n ot a pp ly in the case R.I. B. is enti tled to d raw on t h e loa n as me ntio n e d i n article 10 o f this l oa n agreemen t .

Arti e l e 2 2 .

ＭＭｾ Ｍ Ｎ Ｍ ＭＮＮＮＮＺ＠ ... _ ...

___

No ､ｾ ｬｵｹ＠ in e x e r c is i ng or o mi s si on t o e x e r c ise any right , p ower o r rem edy

a ccruing to e i t h er par t y u nde r t h i s agreement upon any d efGu lt shall

im p n ir a ny su c h r-ight: 1 pow er or rem e dy or be co n strue d t o b e a wai v er

thereof or an a cq uie s cence i n such d e fa u lt , un lesa o t h erwi se p rovided

for in this

a gre e m0nt.

Al1

rights of t he Bank pursuant t o t h is a gree ment s h all redound n o t

on l y to its el f but a lso t o its su cc e s sors and assignees.

f.t r tic l e 2 lt .,

·-·-··---

... ｾ ＬＬＮＮＮＮ＠

Borr ow er s hal l r eimbu r se to the Bank on f irs t r eq u e s t al l costs d e r iving

from any d efa u lt by Bo r r owe r ns incur red by the . Bank in conn e ct ion with

the imple me nt a tion o f t h is a gr ee ment .

I.

(1) Any di spu te be tween part i e s s hail b e s e t tled b y ｡ ｲ ｢ ｩ ｴｲ｡ ｴｩ ｯｮ ｾ＠ In

such a ca s e the r e g ula tio n s o f S ection 10 . 0l-f of the Gene ral ' Cond i

-t i ons ap p l ica bl e -t o Loan and Gua ran -t e e Agreeme n-ts, da -te d ｍ｡ｾ｣ ｨ＠ 15t

19?1+ of t he Intcrnati omd. Ba.n k f or Reconstru c tipn a n d Dcvelop rn o nt

s hal l be BJ pl ied ｡｣ ｣ ｯｲ､ｩ ｮｧｬｹ ｾ＠

-- 9

-- f ff.' --""""... . .

f ｾ ﾷ＠ ＡｬＮ ｦｲ＿ＱｦＺＱｲｬ､ ｾＬＬｾ＠ i: \,.'f! ｾ Ｎｬ ｲｾ ｲ＠ ｾｮｱｾｾ｢｡ｮｋ ｾ＠ \rf} Q i

(;, ,1,v1 ki-d:ng$!and er1

NV •

( 2) '1'11:i. s agreeme nt a rai th::: :l. t1tcrprotation of nny nrt ic le thereof , the

Gone:ni. l ｃ ｯ ｮｾｩ＠ b.on.s rnentioncd in the f oregoing p nr ri.g r aph included,

alw.11 be governed Ｉｾﾷ＠ th e l<n..r of The Jl eth erland :3 ｾ＠

1_{r hi s A. gn:ement si1a11 no t b ecom e eff ect ive}

1 .• m .tiJ cit ier arty lw .vin g

si gned t lt2 ni-;ree:ne n t ₉ has :furnish ed ov ide1,cc ca t is.fa ctor y to th e other

party that i t s sign a ture is lcgc.1 1 val.id and bind i n 13 nnd that all

necess a ry nuthorizations h a c been ob t a i n ed .

(1) For the p erf orm.nee of this coritrnct and for the servinc of legar

process Bo r rower irre v oc a bly ele c t s d om i cile at the E mba ssy of

Indonesia

c.tt

Th e Hague and the Ba n k elects do mic i1o at its offic:e

a.t 'r!1e Hague e

(2) I r w:i.tness whereof the part ies he reto i 8.cting t hrough th ei: r duly

auth o rized r epr ese ntR t ives

have

caused this agreement to be signed

in duplica te in tl eir respective mi mer; a n d delivered in The Hague

a s of the da y an d yea r first a·ove ｷｲｩｴ ｴ ･ｮｾ＠

.For a.nd on beha1f of the

GOVER NMENT OF 'I'H"c REPUBLI C OF n rnO NE.SI A

Signed

Iii' ｾ ＭＱ _{ｅｰＧＧ ｐ ｬ＠ ti.I''D' " :' ]"" ' 'C' 'r•E' l"' ""Jllnc'"')'}

r

1_K

.u i'i J ' £ _, .;:, .J .. 'f ,__,.,w . .. ｬｾ＠ ,, ,J ...,) \ J. \,,,..JtJ .t:Jll 'i l..

uoo1:;>£

v ... 1 1_0N'Jｾ＠ ｾ 1_{L/ IV'<"1'' -Llf'}ｶ＠ .. \ l :..o-' · ｾＮＮＩＱＮＮＮｬ1_ri

c: r

ﾷ ｊｬ A ｜ＮｪﾷＬ＠ "TD"l<' IJ ..LJ • ..1. "I • \ ! - ' I f

ｍ ｡ｮｱＺｾｩｮｧ＠

Officers:

ｉＺｬｾ＠ ｩｾ｜ＧＮｲｉｏｈａ ｌｅ＠ INV ... ｾｓｔｅｉｈｎｇｓｂａｎｋ＠ N. V. _