Page:UN Treaty Series - vol 221.pdf/400

388 (c) The Borrower shall maintain records adequate to identify the goods financed out of the proceeds of the Loan, to disclose the use thereof in the Project, to record the progress of the Project (including the cost thereof) and to reflect in accordance with consistently maintained sound accounting practices the financial condition and operations of the Borrower; shall enable the Bank's representatives to inspect the Project, the goods and any relevant records and documents; and shall furnish to the Bank all such information as the Bank shall reasonably request concerning the expenditure of the proceeds of the Loan, the Project, the goods, and the financial condition and operations of the Borrower.

Section 5.02. (a) The Bank and the Borrower shall cooperate fully to assure that the purposes of the Loan will be accomplished. To that end, each of them shall furnish to the other all such information as it shall reasonably request with regard to the general status of the Loan.

(b) The Bank and the Borrower shall from time to time exchange views through their representatives with regard to matters relating to the purposes of the Loan and the maintenance of the service thereof. The Borrower shall promptly inform the Bank of any condition which interferes with, or threatens to interfere with, the accomplishment of the purposes of the Loan or the maintenance of the service thereof.

Section 5.03. (a) The Borrower shall duly perform its obligations under the Illwerke-Agreement and shall not agree to any modification or change thereof that would or might result in the Borrower's being unable duly to provide for the service of the Loan and the financing of the Project.

(b) As soon as practicable after the date of this Agreement the Borrower shall assign to the Bank such portion of all its rights to and claims for payments from RWE and EVS under the Illwerke-Agreement as shall from time to time be required for the due halfyearly payments of principal of, and interest and other charges on, the Loan and the Bonds. Such assignment shall be an assignment on account of payment (Abtretung zahlungshalber) within the meaning thereof under the laws of the Guarantor, shall equally and ratably secure the due half-yearly payments of principal of, and interest and other charges on, the Loan and the Bonds and shall be in form and substance satisfactory to the Bank.

(c) The Borrower shall take all such steps and execute and deliver all such documents as the Bank may from time to time reasonably request or as may from time to time be required in order to render or maintain the Assignment valid and enforceable.

Section 5.04. (a) As soon as practicable after the date of this Agreement the Borrower shall execute and deliver to the Bank an original first mortgage in form and substance satisfactory to the Bank covering such properties required for the completion and continued operation of the Project as are set forth in the land register as follows: Grundbuchs-Einlage 533, Katastralgemeinde Vandans, Gerichtsbezirk Montafon in Schruns and Grundbuchs-Einlage 774, Katastralgemeinde Tschagguns, Gerichtsbezirk Montafon in Schruns. The Borrower shall from time to time acquire all immovable properties the acquisition of which is required for the completion and continued operation of the Project; and shall, as the Bank may from time to time request, as soon as practicable after the receipt of such request, execute and deliver to the Bank such supplemental first mortgage or mortgages in form and substance satisfactory to the Bank as may No. 531