(ii) the Bank may from time to time, by notice to the Borrower, interchange equivalent portions of the Loan and the First Loan repayable in different currencies under the provisions of Section 3.03 of the said Loan Regulations No. 4 (applicable to the First Loan Agreement) and of Section 3.03 of the Loan Regulations, provided that the aggregate amount so to be repaid in any currency in respect of the Loan and the First Loan and the amounts of the respective maturities set forth in the amortization schedules to this Loan Agreement and the First Loan Agreement shall not be varied.
(b) Any agreement between the Borrower and the Bank pursuant to subparagraph (a) (i) of this Section with respect to the First Loan, and any interchange of equivalent portions of the Loan and the First Loan pursuant to subparagraph (a) (ii) of this Section shall be subject to the approval of the United Kingdom of Great Britain and Northern Ireland as party to the guarantee agreement (Trinidad and Tobago Electricity Commission Project) dated August 16, 19611 with respect to the First Loan.
Article III USE OF PROCEEDS OF THE LOAN
Section 3.01. The Borrower shall cause the proceeds of the Loan to be applied exclusively to financing the cost of goods required to carry out the Project described in Schedule 2 to this Agreement. The specific goods to be financed out of the proceeds of the Loan and the methods and procedures for procurement of such goods shall be determined by agreement between the Borrower and the Bank, subject to modification by further agreement between them.
Section 3.02. Except as the Borrower and the Bank shall otherwise agree, the Borrower shall cause all goods financed out of the proceeds of the Loan to be used in the territories of the Borrower exclusively in the carrying out of the Project. Article IV BONDS
Section 4.01. The Borrower shall execute and deliver Bonds representing the principal amount of the Loan as provided in the Loan Regulations.
I United No. 8662
Nations, Treaty Series, Vol. 426, p. 287.
