Section 4.02. The Minister of the Borrower responsible for finance and such person or persons as he shall appoint in writing are designated as authorized representatives of the Borrower for the purposes of Section 6.12 of the Loan Regulations. Section 4.03. Notwithstanding the provisions of Section 6.06 of the Loan Regulations, the Bank may from time to time request pursuant to Section 6.03 or Section 6.11 of the Loan Regulations, and the Borrower shall execute and deliver, Bonds providing: (a) for the payment on a single date of two or more maturities, or parts thereof, specified in such request, of installments of the principal amount of the Loan set forth in Schedule 1 to this Agreement; (b) that the principal amount of each such Bond shall be payable in a single currency on the date of the latest maturity of the installments specified in such request; (c) that as a sinking fund for such Bonds the Borrower will, on each date specified in Schedule 1 to this Agreement as the maturity of an installment of the portion, or all, of the Loan represented by such Bonds, redeem a principal amount of such Bonds equal to the amont of such installments; (d) that the Bonds to be redeemed in whole or in part shall be selected by lot; (e) that no premium shall be payable on such redemption; (f) that the obligation of the Borrower to redeem Bonds shall be satisfied pro tanto by the substitution of uncancelled Bonds issued pursuant to such request, Bonds so substituted to be valued for such purpose at their principal amount; and (g) that all Bonds so redeemed or substituted shall be immediately cancelled. All the provisions of this Article IV and of Article VI of the Loan Regulations shall apply to such Bonds except that appropriate changes shall be made in the forms of Bonds as the Bank shall reasonably request in order to give effect to the provisions of this Section 4.03.
Article V PARTICULAR COVENANTS
Section 5.01. (a) The Borrower shall carry out theProject or cause theProject to be carried out with due diligence and efficiency and in conformity with sound agricultural, animal husbandry, administrative and financial practices, and shall provide, promptly as needed, the funds, facilities, services and other resources required for the purpose. The Project shall be carried out under a Project Director acceptable to the Bank, whose authority and functions shall be determined by agreement between the Borrower and the Bank. (b) The Borrower shall cause those of its agencies responsible for providing technical and administrative services in agriculture, animal husbandry and No. 8668
