Selanjutnya
A.I.D. Loan No. 497-H-032
r "."'\
-_,,
LOAN
WEST
AGREEMENT
.JAVA TRANSMISSION Al"ID DISTRIBiJTION-PHASE II
BETWEEN
REPUBLIC
THE
OF INDONESIA
AND
PERUSAHA..t.\.N UMUM LISTRlK NEGARA
AND THE
UNITED
DATED: March 29, 1974
(
STATES
OF
AMERICA
-i-
TABLE OF CONTENTS
ARTICLE AND SECTION
ARTICLE I
TITLE
PAGE
The Loan
c. .. ""
1
Section 1. 02 - The Project • • • • • • • . . . . . . • • • • • • • . . . • • • • . . • • • . . • • . • . • .
Section 1. 01 - The Wan
1
e
o
•
• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • ., •
;;
ARTICLE II loan Terms
Section
Section
Section
Section
Section
2.01
2 . 02
2.03
2.04
2.05
- Interest
•u•e•ot>on Contracts ••.•••••••••.••••••• , • . • • • •
·Bec:tio. 7. \,'8 - Shipping and Insurance . • . • • . • • . . • • • • • • • • . • . • . • • .
ｾ･｣ｴｩｯｮ＠
7;) 09 - Per t Charges ｾ＠ o o o o
o o • o ••• o o • o •• o o o •• o • o o • • •
Se!':ticn '!.10 - Notifics.tion to Potential Suppliers .•••.•••••••..
Section 7.11 - In.formation and Marking ••• • •• •••••.•••• •• •••• ••••
(I
•
o
:>
o
!,)
•
Cs..ncel.la ti -::n
ti.ild
II'
ｬｽｯｲｏＧｗ･ｾ＠
::.lt.
1J:.
lh
14
16
16
:6
18
18
ｾＹ＠
19
20
20
20
Suspens ion
See: tk:u 9. 01 - ＢＮＧＺｮｾ･ｬＦ＠
t:l.on by the Borrower • • • • • • • • • • • • • • • • • • • • •
Section 9. 02 - EYeut.s of Defa.ul:t; Acceleration • • • . • • • • . . • • • . • • . .
Sect.ion 9 .03 - Su.spens:lon of Disbursement .••••••.••••• ••••••.. , .
ｓ･｣ｴｩ
ｯｾ＠
9.o4 - Cancellation by A.I.D ••••••••••••••••••••••••••.•
ｓｾ｣ｴｩｯ＠
9.05 - ｃｯｾｴｩｮｵ･､＠
ｅｦ･｣ｴｩｶｾｮｳ＠
of Agreement •••••••• •• ••.
Sectic!l 9 06 ｾ＠ Refunds o • ｾ＠ • o o o o • • o o • o • • • • • • o • • • o • • o o • • • • • • o • • • • •
ｓ･｣ｴｩｯｾ＠
9.07 - Expenses ot Collection ••••••••••••••••••• ••• •• ••.
Section 9.08 - Nomfaiver ot Bemed.ies ••••••••••.•••••••••••••••• ｾ＠
ARTIC!.E X
111-
ｄｩｾ｢ｵｲｳ･ＺｮＧＮｬｴｂ＠
Section 8.01 - Disbursement - Letters of Commitment to
Um ted States Banks • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
Secticn 8.02 - Ｈｾｨ･ｲ＠
Forms of Disbursement .•••.•••..••.•• • •••••.
ｾｴｩｯｮ＠
8 .0j ｄｾｴ･＠
of Disbursement ••••••••.••••••••••••••••••••
Section 8 ,o4 - Terminal Date for Disbursement ••••••••••••••••••.
ARTICLE IX
13
13..,
ｵＮｲ･ｮＺｾｴ＠
Section 7 , 01 ＠ｾ hocurement. Source and Origin • • • • • • • • • • • • • • . • • • • •
Sect; i..on 7JY2. - Eligibility Date ••••••••••••••••.•••••••.••••••.
Secticn 7. 0.3 ＠ｾ Goods and Services Not Financed Under IDan .
ARTICLE VIII
12
20
21
23
25
25
25
26
27
Contribution to Benetici&.!]'..
Section 10. 01- Terms of Contributi.on ••••••••.•.••.••.• •••• ..• •• , 27
-iii-
TITLE
ARTICLE All.1D SECTION
ART:!'.CLE IX
PAGE
Misc el.lruieou.s
Sec.ti on 11 , 01
Section l l.02
ｓ･ＭＮ
ｾ ｴｩ ｯｮ＠
11.03
Section 11. 04
Sec-t.:ion 11.05
- ｃＱＬ［ｭＢａｬｾＺｩＮ｣
-
｡Ｚｴｩ
ｯｮｳ＠
• . •• • •• • ••• • •• • ••• • •• • ••• • •• • •• • •••
28
Representative3
• • . • . . • •• . •. . •• . • . . . •. • • . • • . . .
Jmp1ement.ation ｬｾｴ･ｲｳ＠
• • ...••..•• . , •.• • , •.• ••. •• ,
Promissory Notes " .• • • ..••.•••••.....•.. _, .•• , .. ...
Termination Upon Fu.ll Payment • •• • , ••••••• , •
30
30
29
'.)0.
-1-
L 0 AN
AG RE EM E N T dated March 29, 1974
between THE REPUBLIC OF INDONESIA ("Borrower 11 ) , RRUSAHAAN UMUM LISTRIK
NEGARA ("PLN 11 ) ("Beneficiary"), and the UNITED STATES OF A..'1ERICA, acting
through the AGENCY FOR I NTERNATIONAL DEVELOPMENT ("A.I.D.") .
ARTICI-1. ｾ＠ at"c':.lratel;y and ｾｯｭｰｬ･ＺｴＬｹ＠
all
facts and circUlll!ta.nces that might material..1.;r affect the Project a.nd the
｡ＮｩＺ･｣Ｂｾｲｧ＠
of theiT ..:)b' igatio11_ .ind.er this Ag!'eement.
Be!leficiary shall p:romptly i.nform A, :::.D
T"':le Borrcwe1· g.nd.
of any facts and circ:.un.;;ta.nces
that may hereafter arise th9.t might mater·ial.ly affect, or that it
reasonable to believe might materially affect) the Project or the
ｩｾ＠
-8discharge of the .Bort'CW6r 's or
ｂ･ｮｦｩｾ｡ｲｹＧ＠
s
ｯ｢ｬｩｧ｡ｴｲＮｾ＠
under this
Agreement.
SECTION 4.04.
ｃｾｬｳｩ｟ｧＮ＠
FeesA and ｯｴｾ･ｲ＠
ｐ｡ｾ･ｮｴＮ＠
Borrower and :aeneftei&-y warrant and covenant th9.t in
(a)
connection with obtaining the Loan, or ts.king aey action under or with
respect 'to· thi.s Agreement; they have not paid, and -will not
｡ｧｮｾ･＠
ｾ＠
c·:·
'.to pay, ncr to the best of their k.now2.ed.ge has there been paid
nor will there be paid er agreed "to be
･ｲＮｩｴｹｾ＠
c.ommiB.sions ｾ＠
by any ot:r..ei' person or
ｰｾｩ､＠
or ctL._r pajm,;:ints of ruw kind, excep't e.s
ｦ･ｳｾ＠
regular compensB.tion to· the 'Borrower Is o:r
o:ff.1c:er:s and
ｴ･｣ｨｮｩ｡ｬｾ＠
･ｭｰｬｯｹｾ＠
9s fu:U-·t-ime
Ｎｂ･ｲｾｦｩＺ｡ｹ＠
er as- ·ccmpensation for bona fide professiona.1,
Tne Bo:r:rower and Beneficiary sh.all
or c1:)mparable eervices
promptly repcrt to A,J.D. any· payment or agreement t.)
bona fide
they
O'r
ｰｲｯｦ･ｳｩｮ｡ｬｾ＠
ｴ･｣ｨｮｩ｡ｬｾ＠
ｰｾＮｦ＠
for such
or comparable services to which
either of them :is a ·part:y,or o:r Which they or either of them
hai'! knowledge (indicating whether ｾｵ｣ｨ＠
payment has been made or Ls . to
be mad.e on a coXltingent basis), and if' the anio·unt of arx.,'( S'.tcn payment
is deemed unr·ea.sonable by A" LD." t.ne s".aIDe sha.11 be adjusted in a
mariner satisfactory to Au!.D.
(b}
The Borrower
and
no pa and repair the Project in
conformity with sound engineering, financial, and administrative
pra.ctiees and in such manner as to insure the ccntirming and successful
achievement of the purposes of the Projec-t.
SECTION 5. 05.
Performance of Other Agreements ,
Borrr.swer
shall perftTe·
performed by contract .
-13The Beneficiary shall cause the Project to be carried out
(b)
in conformity with all of the plans, specificatiorIB, contracts, schedules,
and other arrangements, and with al1 modifications therein, approved
by A.I.D. pursuant
this Agreement.
ｴｾ＠
SECTION 6.02.
Bene:fi ci8.£i..
Funds and Other Resources to be
lhe Beneficiary shall provide prcmptl,y
in addition to the Loan,
punctual and effective
operation of the
ｾ､＠
ｾ＠
needeu a..:.1 .t\.1.'::'.ds,
all other resources required for the
out 1
ｾ｡ｲｴｩｮｧ＠
ｐＮｲｯｪ･ｴｾ＠
maintenance, repair,
｣ｯｭｰｬ･ｴｩｮｾ＠
ql.o.arterly a.pportionmeu.ts of
ｩｮｾｬｵ､ｧ＠
as determined from the
ｾ［ｭＮ､ｳ＠
a..
Jlo more tban nuonable
tor .., avod.a or services financed, in vbole or
ｾ＠
111 part, Wiiler tlla
"*'• as more M}7 ct.e1cribed in ImpleMAt&t1on
t.ttwa. Su.ch l t - 11111.ll be proeuret on a fair and, acept tor
protffslonal aervt.c•, on a ccapetitive 'buia in accor«anee with proCed.urea
ｴｨ･ｲｯ
in Iapleaeatation Letters.
｟ ｴｲ･ｳｾ＠
SICftOJI 7. 07.
Wment
ｾ＠
?il'd•countq lltt1onal.8 under
Construction Conteets. 1'he eaplo,..nt of ,ereormel to perform
1erTice1 under conttruction
tinan.ced under the I.otm aba.lJ. be
ｾｯｮｴｲ｡｣＠
subject to requireatmts with re1pect to third-countrr nationals pr escribed
in Implementation Letters.
SICTION 7, 08.
Sl!lipp191 5d Insurance .
(a) Goods flnanee4 oder the ll:>an sha.ll 'be tl"61lSpor ted t o the
country of the- Borrawer
Qll
nag canters of
any country inclucled in
-1
Cod.e .935 of the A.I.J. · Qeosr&pAic Cocle Book as in eftect at the time
of shipment.
-17(b) At least fifty percent (50%) of the gross tonnage of all
goods financed under the Loan (computed separateJ.y £or dry bul.lt carriers,
dry
cargo liners, and tankers) which shall be transported on ocean vessels
shall be transported on privatel.1' owned United States flag commercial
vessels unless A.I.D. sha11 determine that such veasels are not available at fair and reasonable rates ·f or United States flag commercial
vessels.
In addition, unless A.I.D . makes the determination of unc.vaila-
biiity noted above, at least fifty percent
ＨＵｾＩ＠
of the gross freight
revenue geneT.ated by all shipments financed under the Loan which shall
·be transported on dry cargo liners shall be pe.id to or for the benefit
of privately owned United States !lag camnercial vessela.
No such goods
may be transported on any ocean vessel (or aircraft} (i) which A.I.D.,
in a notice to the Borrower, has designated as ineligible to carry
A.I.D.-financed goods or (ii) which bas been chartered tor the carriage
of A.I.D.-financed goQds unless such charter has been approved by A.I.D .
(c}
ｉｾ＠
in connection with the placement of marine insUJ"ance
on shipments financed under United States legislation authorizing assistance
to other nations, the country o! the Borrower, by statute, decree, rule,
or regulation, favors any marine insurance company of any country over
any marine insurance company authorized to do business in any state of
the United States of America, goods procured from the United States and
financed under the loan shall during the continuance of such discrimination be insured against marine risk in the United States of America with
a canpa.ny or companies authorized to do a marine insurance business in
any state of the United States of America .
-18( d)
The Borrower shall insure, or cause to be insured, all
goods financed under the Loan against risks incident to their transit
to the point of their use in the Project .
Such insurance &hall be
issued upon terms and conditions consistent with sound commercial
practice, shall insure the full value of the goods, and shall be
payable in the currency in which such goods were financed.
Any
indemnification received by the Borrower under such insurance shall
be used to replace or repair &D3 material damage or any loss of the
goods insured or shall be used to reimburse the Borrower for the
replacement or repair or such goodtl .. Any such replacements shall
have both their source &nd origin in countries included in Code 941
of the A.I.D. Geographic Code Book and sb&ll be otherwise subject to
the provisions of this AgreeneDt.
SICTION 7.09.
Port C!)frges.
With respect to ocean freight
costs which qualify as eligiale for financing under the Loan, A. I.D .
ＨｾＩ＠
will finance ninety percent
shipment, and ninety-eight
free-out terms_.
of free-out
ＨＹＸｾＩ＠
of all ocean freight costs of each
of such costs on any
ｳｨｩｾ･ｮｴ＠
under
The remaining. ten percent (lo%), or two percent
ｳｨｾｰｭｮｴＬ＠
ＨｾＩ＠
represent pQrt charges in Indonesia and
Borrower coveµJ.nts that it shall make available foreign exchange to
ｾｲ･ｳ｣ｩ｢､＠
finance said port charges in aceoxdance with procedures which may be
by A. I.D. in Implementation Letters.
SECTION 7.10.
Notification to Potential Suppliers.
that a.11 United States firms shall
ｾｶ･＠
In order
the opportunity to participate
in :furnishing goods and serrices to be tine.need under the Loa.n, the
-19Borrcwer and Beneficiary shall furnish to A.l.D. such information with
regard thereto, and
such times, as A.!.D . may request in Implementa｡ｾ＠
tion let.ter:s .
SECTION
7.u.
Information and Marking.
Borrower and Beneficiary
shall. give public1ty to the U:>an and the Project a.a a program of United
StEa.tes
&id.$
publicity
identify
?.roject :3i ｴｾＬ＠
!.l'1e
and prcvide other ma.rkingi c;r
pre&e.ribed in Implementation Letters .
ｾ｣Ｚ＠
ARtICLI VIII
Disbm'sement.s
ｄｩｳ｢ｾｲＮ｡･ｭｮｴ＠
SEC-T!ON 8 . 01.
ｓｴｾ･Ｚｳ＠
ｂ｡ｮｫｾ
Ｎ＠
- Letters of Commitment to United
Upon satiafac;tion b;r both :Borrower and Beneficiary of
cond'itioru p?'e.cedent, tne .Beneficiary may, from ti.me to time, I1equest
A.l.D. to
more :Jnited
A.1.D.,
letters of COlll!litment for specified amounts to one or
ｩｳｾ･＠
ｓｴｾ･ｳ＠
ｾｯｭｩｴｮｧ＠
｢｡ｮｋ｣ｩｾ＠
ａ
by Borrower and satisfactory to
Ｎｾ
､･ｾｩｧｮＦｴ＠
ｄ
Ｎ＠
to reimburse such bank. or banks for payments
made by them to contra.cto£S
suppliers, through the use of Letters
ｯｾ＠
ofl·C:redit or otherwise, for costa of
the Project
ment, o
ｩｾ＠
ｧｯＮｾ＠
a.M services procured f'or
&ocr:rrda.nce with tne terms and conditions of this Agree-
Payment by a. bank to
i).
cont.ractor or s·•..tppli er wil.l be made by
the 'b::ui.k 'L!.pon precen.te."th:m cf .such iiupporting documentation as A.1.D.
may ｰｲ･｡ｾｩＧ｢＠
in LettEira ot Cammi tmen.t al.l.d I.mp.lamentea.tion Letters.
Bs.nking emorges :incurred in. eounectio!l w.i.th Letters of Cammi t.me.llt and
Let-cers of Credit shall. be for
be
ｦＺｬｲｩｾ｣･､＠
under the k.an,
ｾｨ･＠
account of the Beneficiar.r and may
-20SECTION 8.02.
Other Forms of Disbursement .
Disbursement of
the Loan may also be made through such other means as the Borrower,
Beneficiary and A.I.D. may agree to in writing.
SECTION 8 . 03.
Date of Disbursement.
Disbursements by A.I.D.
shall be deemed to occur, in the case of disbursements pursuant to
Section 8 . 01, on the date on which A.I .D. makes a
to
､ｩｳ｢ｵ］･ｭｾｴ＠
ｴｾ
･＠
Be'.:j,efic iary, to its designee, or to a banking institution rnrs:.iar:t to
a
Letter of Connnitment.
SECTION 8.04.
Terminal Date for Disbursement.
Except as
A.I.D. may otherwise agree in writing, no Letter of Cormnitment, or
ｯｾｨ･ｲ＠
commitment documents which may be called for by another
ｦｯｾ＠
of
disbursement under Section 8.02, or amendment thereto, shall be issued
in response to requests received by A.I.D. after July 31, 1977 and
no disbursement shall be made against documentation received by
A.I.D. or any bank described in Section 8.01 after
ｄ･ｾｭ｢ｲ＠
31, 1980.
A.I.D., at its option, may at any time or times after December 31, 1980
reduce the Loan by all or any part thereof for which documentation was
not received by such date.
ARTICLE IX
Cancellation and Suspension
SECTION 9.01.
Cancellation by the Borrower.
The Borrower or
Beneficiary, may, with the prior written consent of A. I.D., by written
ＭＲＱｾ＠
notice to A . 'LD,; cancel 9.nY J;.>art of the Loan (i) which, prior to the
A.! D ha.s r.ot disbursed or committed itself tc
giving of such
ｮｯｴｾ｣･Ｄ＠
diaburse, or (ii) which ha.s not then been ut·i lized tb.r o'.lgh the i5 suance
of irrevocabl e Letters of Credit or th.ro'..lgh bank
ma.de ether than
ｰ｡ｾ･ｮｴＮｳ＠
under irrevocable Letters of Credit
SECIION 9 "02"
R-l!e;:U 9f
ｄ･｟ｦｳＺＮｾ［＠
ｾｰﾣ･ｊｮＮｴｩ
Ｎ＠
:.f
.;.,ny oc.e
or more of the follcv'tng e=.vente ( "Eve!:.-:. a of Def:.:J..l t ") ar1a.1.l oc:-. \lr •
(a)
ｔｵｾ＠
Bor:tC•)oft:."!." ')1'
Benefic l.&.t'Y sr..a.l.l.
ha.Ye
f£:1.:i.led tc pe.y ｾｬｯｨｅｮ＠
due arq interest o·r in.:.t.a.J.lment cf .P:r·:i:itipa.l re-1.u l red •j.nder
t!:is
(b)
ａｧｲ･ｾＲｮｴ
［＠
The 'Bcl''I'O'ile:r· o c Benef:i ":! ｾｴ
with
［ｴＧ＠
sM. ll h&.:;e f .J.1 lea to -;0mpJ. y
other pl'ovi.sion cf this
｡ｲＬｯｾ＠
lncl'...dingJ b·ut
Ｎａｧｲ･ｭｾ＠
v:lthrr.it limitation, the oblig&t1.on to 1J.azry out the Project
with due diligence and efficiency;
(c)
nie !oncnrer shall have f•Ued to pay when due any interest
or
&ey
inste.1.lJnent of ｐｲｩＺｵｾｰ｡ｬ＠
under 'd.fr7 othe: loan ag.reementj
or am,y c;.tber payment reqi.: Lred
&r::;}' ｧｵ｡ｲＮｮｾｹ＠
｡ｧｲ･ｭｮｴ
ｾ＠
or
&DJ' other 11greement between the Borre"111e r r ex:.sting by vi.tt...te of law
CI·
oi. ﾷＮｾｲ
ｲ＠
legr.::... authority and nee essar-.1 fer the conduct or the
..
Benefi cia.ry' s bu&iness,. fot the e:ompletion of the
Projee;t , o:- for CS.l'"t"'.j'ing ot.t c'!
Agreement
ｾｨ｡Ｎｕ＠
ｴｾ･＠
have be:en revokedj
tE:rllll
｣ｾ･ｬ､ＺＱ＠
of tbi s Loan
or denied
in such mt-__."'lner as to m&K.e i't improbable that the Beneficiary
-·
will be able to perform its obligil.tions under th:ls Loan
J.greemenl or that t,he I.Dan prov:tded foz be.rein will aub-
•tantially f'illill the pU'pons for which it hae been
eatabliahed; or
{g) ?he ｂ･ｾｩ｣ＦＮＱＷ＠
.shall have voluntarily entered into or
been subjected involuntaril.7 to aD1' procedur·e under the
l.a.w> in effec t within the Republic
ｯｾ＠
I!'ldonesia fer the
:r•li ef of a fi .n anciall;y dietreaaed -debtor which is sub-
atantially equiva.lent to a petition in bankruptcy or the
appointment of & receiver for the benefit of creditors:
then A.I.n.
'·
ｭ｡ｹｾ＠
ｾｴ＠
its option, give to t'b.e .Borrower or Beneficiary notice
that all or any part of the unrepaid Princip&l. ahall be due and payable
sixty (6G) ｾ＠
tl::.erea.fter, and, unless the Bvent of Default is ｣ｾ･､＠
vlihin auc.ll a1xt7 ( 60) days:
-23(i)
such unrepaid Principal and an,y accrued interest
hereunder shall be due and payable immediately; and
(ii)
the amount of an;y further disbursements made under
then outstanding irrevocable Letters of Credit or
otherwise shall become due a.nd payable as soon as
made.
It the Benef'iei&.ry' is in default• the Borrower, a.t itu
ｯｰｴＮｾ｣｟Ｌｮ＠
may declare all or an;y part of the unrepaid Principal. under the loan from
the Borrower to the Benefi.ciaey pursuant; to Section 10. 01 hereof to be
due . and p11¥&ble immediately, and ·..ipon any
\·
declaration, unless the
ｳﾷｵｾｨ＠
default mA1' be cured and iB cured within sixty (60) da.:ys theree.ftel",
such principal and all
..............
payable immediatalf.
in
accrued thereon sh&ll become due and
ｩｮｴ･ｲｾｳ＠
'?he BorrcNer 1hal.l not exercise the right set forth
the preceding sentence hereunder without the prior written concurrence
of A. I .D.
§!1.spen..eion of lll.sburse.meni.
SECTIOK 9 . 03 .
any
ｴｩｭ･
In the event that at
ｾ＠
(a) An Event of' Default
(b )
ｨ｡Ｎｾ＠
occur-red;
An event occurs that A.! D. determines to be an extra-
ordinary
ｾｩｴｵ｡ｯｮ＠
that
ｭ｡ｫ･ｾ＠
it improbable either that
the purpc.se of the Loe.n will be attained. o:r· that the
Borro-wer or Beneficiary will be able to pexform their
obligations under this Agreement; or
(c) Any disbursement by A.I . D. would be in violation of the
legislation governing A. I.D. ; ·
t
.·
-24( d)
The Borrower or Beneficiary shall have failed to pay when
due any interest or
ｾ＠
installment of Principal or any
ｾ＠
other payment required under any other loan agreanent, any
'·
....i .
guaranty- agreement, or any other agreement between the
Borrower or &n1' of its e.gencies and the Government of the
United States or
atcy'
of its agencies;
Then A.I.D. may, at its option:
(i) suspend ar cancel out!tandi::g commitll.ent ､ｯ｣ｾＮＱｮ･ｴｳ＠
to the extent that they have not been utilized
through the ie11uance of irrevocable Letters of
Credit v
through bank. payments made other than
under irreToc&ble Letters of Credit, in which
event A.I.D. aball give notice to the Borrower
and Benetici&l'Y promptly thereafter;
( 11)
decline to make diab·11rsements other than under
out•tancllag caaaitment d.ocuments;
(iii)
decline to issue additional commitment documents;
(iT) at A.I.D.'s expense, direct that title to gocds
fin.a.need under tibe !Dan shall be tranaferred to
A.I.D. if the goods are from a source outside the
country of the
ｂｯｲｷ･
Ｍｾ＠
are in a deliven.ble a tate
and bave. c.ot been ottl.Q&ded in ports of entry of
the country of the Bonower.
Aziy
disbursement made
or to be ma4-e under the Loan with respect to such
transferred goola shall be
·I"
､･ｵｾｴ＠
from Principal.
-25SECTION 9.04.
ｾｮ｣･ｬ｡ｴｩｯ＠
by A.1.D.
of disbu.rsements pursuant to Section
ＹＮＰｊｾ＠
Following any suspension.
if the cause or causes for such
+....
suspension ,of' disbur sements shall not h
r "."'\
-_,,
LOAN
WEST
AGREEMENT
.JAVA TRANSMISSION Al"ID DISTRIBiJTION-PHASE II
BETWEEN
REPUBLIC
THE
OF INDONESIA
AND
PERUSAHA..t.\.N UMUM LISTRlK NEGARA
AND THE
UNITED
DATED: March 29, 1974
(
STATES
OF
AMERICA
-i-
TABLE OF CONTENTS
ARTICLE AND SECTION
ARTICLE I
TITLE
PAGE
The Loan
c. .. ""
1
Section 1. 02 - The Project • • • • • • • . . . . . . • • • • • • • . . . • • • • . . • • • . . • • . • . • .
Section 1. 01 - The Wan
1
e
o
•
• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • ., •
;;
ARTICLE II loan Terms
Section
Section
Section
Section
Section
2.01
2 . 02
2.03
2.04
2.05
- Interest
•u•e•ot>on Contracts ••.•••••••••.••••••• , • . • • • •
·Bec:tio. 7. \,'8 - Shipping and Insurance . • . • • . • • . . • • • • • • • • . • . • . • • .
ｾ･｣ｴｩｯｮ＠
7;) 09 - Per t Charges ｾ＠ o o o o
o o • o ••• o o • o •• o o o •• o • o o • • •
Se!':ticn '!.10 - Notifics.tion to Potential Suppliers .•••.•••••••..
Section 7.11 - In.formation and Marking ••• • •• •••••.•••• •• •••• ••••
(I
•
o
:>
o
!,)
•
Cs..ncel.la ti -::n
ti.ild
II'
ｬｽｯｲｏＧｗ･ｾ＠
::.lt.
1J:.
lh
14
16
16
:6
18
18
ｾＹ＠
19
20
20
20
Suspens ion
See: tk:u 9. 01 - ＢＮＧＺｮｾ･ｬＦ＠
t:l.on by the Borrower • • • • • • • • • • • • • • • • • • • • •
Section 9. 02 - EYeut.s of Defa.ul:t; Acceleration • • • . • • • • . . • • • . • • . .
Sect.ion 9 .03 - Su.spens:lon of Disbursement .••••••.••••• ••••••.. , .
ｓ･｣ｴｩ
ｯｾ＠
9.o4 - Cancellation by A.I.D ••••••••••••••••••••••••••.•
ｓｾ｣ｴｩｯ＠
9.05 - ｃｯｾｴｩｮｵ･､＠
ｅｦ･｣ｴｩｶｾｮｳ＠
of Agreement •••••••• •• ••.
Sectic!l 9 06 ｾ＠ Refunds o • ｾ＠ • o o o o • • o o • o • • • • • • o • • • o • • o o • • • • • • o • • • • •
ｓ･｣ｴｩｯｾ＠
9.07 - Expenses ot Collection ••••••••••••••••••• ••• •• ••.
Section 9.08 - Nomfaiver ot Bemed.ies ••••••••••.•••••••••••••••• ｾ＠
ARTIC!.E X
111-
ｄｩｾ｢ｵｲｳ･ＺｮＧＮｬｴｂ＠
Section 8.01 - Disbursement - Letters of Commitment to
Um ted States Banks • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
Secticn 8.02 - Ｈｾｨ･ｲ＠
Forms of Disbursement .•••.•••..••.•• • •••••.
ｾｴｩｯｮ＠
8 .0j ｄｾｴ･＠
of Disbursement ••••••••.••••••••••••••••••••
Section 8 ,o4 - Terminal Date for Disbursement ••••••••••••••••••.
ARTICLE IX
13
13..,
ｵＮｲ･ｮＺｾｴ＠
Section 7 , 01 ＠ｾ hocurement. Source and Origin • • • • • • • • • • • • • • . • • • • •
Sect; i..on 7JY2. - Eligibility Date ••••••••••••••••.•••••••.••••••.
Secticn 7. 0.3 ＠ｾ Goods and Services Not Financed Under IDan .
ARTICLE VIII
12
20
21
23
25
25
25
26
27
Contribution to Benetici&.!]'..
Section 10. 01- Terms of Contributi.on ••••••••.•.••.••.• •••• ..• •• , 27
-iii-
TITLE
ARTICLE All.1D SECTION
ART:!'.CLE IX
PAGE
Misc el.lruieou.s
Sec.ti on 11 , 01
Section l l.02
ｓ･ＭＮ
ｾ ｴｩ ｯｮ＠
11.03
Section 11. 04
Sec-t.:ion 11.05
- ｃＱＬ［ｭＢａｬｾＺｩＮ｣
-
｡Ｚｴｩ
ｯｮｳ＠
• . •• • •• • ••• • •• • ••• • •• • ••• • •• • •• • •••
28
Representative3
• • . • . . • •• . •. . •• . • . . . •. • • . • • . . .
Jmp1ement.ation ｬｾｴ･ｲｳ＠
• • ...••..•• . , •.• • , •.• ••. •• ,
Promissory Notes " .• • • ..••.•••••.....•.. _, .•• , .. ...
Termination Upon Fu.ll Payment • •• • , ••••••• , •
30
30
29
'.)0.
-1-
L 0 AN
AG RE EM E N T dated March 29, 1974
between THE REPUBLIC OF INDONESIA ("Borrower 11 ) , RRUSAHAAN UMUM LISTRIK
NEGARA ("PLN 11 ) ("Beneficiary"), and the UNITED STATES OF A..'1ERICA, acting
through the AGENCY FOR I NTERNATIONAL DEVELOPMENT ("A.I.D.") .
ARTICI-1. ｾ＠ at"c':.lratel;y and ｾｯｭｰｬ･ＺｴＬｹ＠
all
facts and circUlll!ta.nces that might material..1.;r affect the Project a.nd the
｡ＮｩＺ･｣Ｂｾｲｧ＠
of theiT ..:)b' igatio11_ .ind.er this Ag!'eement.
Be!leficiary shall p:romptly i.nform A, :::.D
T"':le Borrcwe1· g.nd.
of any facts and circ:.un.;;ta.nces
that may hereafter arise th9.t might mater·ial.ly affect, or that it
reasonable to believe might materially affect) the Project or the
ｩｾ＠
-8discharge of the .Bort'CW6r 's or
ｂ･ｮｦｩｾ｡ｲｹＧ＠
s
ｯ｢ｬｩｧ｡ｴｲＮｾ＠
under this
Agreement.
SECTION 4.04.
ｃｾｬｳｩ｟ｧＮ＠
FeesA and ｯｴｾ･ｲ＠
ｐ｡ｾ･ｮｴＮ＠
Borrower and :aeneftei&-y warrant and covenant th9.t in
(a)
connection with obtaining the Loan, or ts.king aey action under or with
respect 'to· thi.s Agreement; they have not paid, and -will not
｡ｧｮｾ･＠
ｾ＠
c·:·
'.to pay, ncr to the best of their k.now2.ed.ge has there been paid
nor will there be paid er agreed "to be
･ｲＮｩｴｹｾ＠
c.ommiB.sions ｾ＠
by any ot:r..ei' person or
ｰｾｩ､＠
or ctL._r pajm,;:ints of ruw kind, excep't e.s
ｦ･ｳｾ＠
regular compensB.tion to· the 'Borrower Is o:r
o:ff.1c:er:s and
ｴ･｣ｨｮｩ｡ｬｾ＠
･ｭｰｬｯｹｾ＠
9s fu:U-·t-ime
Ｎｂ･ｲｾｦｩＺ｡ｹ＠
er as- ·ccmpensation for bona fide professiona.1,
Tne Bo:r:rower and Beneficiary sh.all
or c1:)mparable eervices
promptly repcrt to A,J.D. any· payment or agreement t.)
bona fide
they
O'r
ｰｲｯｦ･ｳｩｮ｡ｬｾ＠
ｴ･｣ｨｮｩ｡ｬｾ＠
ｰｾＮｦ＠
for such
or comparable services to which
either of them :is a ·part:y,or o:r Which they or either of them
hai'! knowledge (indicating whether ｾｵ｣ｨ＠
payment has been made or Ls . to
be mad.e on a coXltingent basis), and if' the anio·unt of arx.,'( S'.tcn payment
is deemed unr·ea.sonable by A" LD." t.ne s".aIDe sha.11 be adjusted in a
mariner satisfactory to Au!.D.
(b}
The Borrower
and
no pa and repair the Project in
conformity with sound engineering, financial, and administrative
pra.ctiees and in such manner as to insure the ccntirming and successful
achievement of the purposes of the Projec-t.
SECTION 5. 05.
Performance of Other Agreements ,
Borrr.swer
shall perftTe·
performed by contract .
-13The Beneficiary shall cause the Project to be carried out
(b)
in conformity with all of the plans, specificatiorIB, contracts, schedules,
and other arrangements, and with al1 modifications therein, approved
by A.I.D. pursuant
this Agreement.
ｴｾ＠
SECTION 6.02.
Bene:fi ci8.£i..
Funds and Other Resources to be
lhe Beneficiary shall provide prcmptl,y
in addition to the Loan,
punctual and effective
operation of the
ｾ､＠
ｾ＠
needeu a..:.1 .t\.1.'::'.ds,
all other resources required for the
out 1
ｾ｡ｲｴｩｮｧ＠
ｐＮｲｯｪ･ｴｾ＠
maintenance, repair,
｣ｯｭｰｬ･ｴｩｮｾ＠
ql.o.arterly a.pportionmeu.ts of
ｩｮｾｬｵ､ｧ＠
as determined from the
ｾ［ｭＮ､ｳ＠
a..
Jlo more tban nuonable
tor .., avod.a or services financed, in vbole or
ｾ＠
111 part, Wiiler tlla
"*'• as more M}7 ct.e1cribed in ImpleMAt&t1on
t.ttwa. Su.ch l t - 11111.ll be proeuret on a fair and, acept tor
protffslonal aervt.c•, on a ccapetitive 'buia in accor«anee with proCed.urea
ｴｨ･ｲｯ
in Iapleaeatation Letters.
｟ ｴｲ･ｳｾ＠
SICftOJI 7. 07.
Wment
ｾ＠
?il'd•countq lltt1onal.8 under
Construction Conteets. 1'he eaplo,..nt of ,ereormel to perform
1erTice1 under conttruction
tinan.ced under the I.otm aba.lJ. be
ｾｯｮｴｲ｡｣＠
subject to requireatmts with re1pect to third-countrr nationals pr escribed
in Implementation Letters.
SICTION 7, 08.
Sl!lipp191 5d Insurance .
(a) Goods flnanee4 oder the ll:>an sha.ll 'be tl"61lSpor ted t o the
country of the- Borrawer
Qll
nag canters of
any country inclucled in
-1
Cod.e .935 of the A.I.J. · Qeosr&pAic Cocle Book as in eftect at the time
of shipment.
-17(b) At least fifty percent (50%) of the gross tonnage of all
goods financed under the Loan (computed separateJ.y £or dry bul.lt carriers,
dry
cargo liners, and tankers) which shall be transported on ocean vessels
shall be transported on privatel.1' owned United States flag commercial
vessels unless A.I.D. sha11 determine that such veasels are not available at fair and reasonable rates ·f or United States flag commercial
vessels.
In addition, unless A.I.D . makes the determination of unc.vaila-
biiity noted above, at least fifty percent
ＨＵｾＩ＠
of the gross freight
revenue geneT.ated by all shipments financed under the Loan which shall
·be transported on dry cargo liners shall be pe.id to or for the benefit
of privately owned United States !lag camnercial vessela.
No such goods
may be transported on any ocean vessel (or aircraft} (i) which A.I.D.,
in a notice to the Borrower, has designated as ineligible to carry
A.I.D.-financed goods or (ii) which bas been chartered tor the carriage
of A.I.D.-financed goQds unless such charter has been approved by A.I.D .
(c}
ｉｾ＠
in connection with the placement of marine insUJ"ance
on shipments financed under United States legislation authorizing assistance
to other nations, the country o! the Borrower, by statute, decree, rule,
or regulation, favors any marine insurance company of any country over
any marine insurance company authorized to do business in any state of
the United States of America, goods procured from the United States and
financed under the loan shall during the continuance of such discrimination be insured against marine risk in the United States of America with
a canpa.ny or companies authorized to do a marine insurance business in
any state of the United States of America .
-18( d)
The Borrower shall insure, or cause to be insured, all
goods financed under the Loan against risks incident to their transit
to the point of their use in the Project .
Such insurance &hall be
issued upon terms and conditions consistent with sound commercial
practice, shall insure the full value of the goods, and shall be
payable in the currency in which such goods were financed.
Any
indemnification received by the Borrower under such insurance shall
be used to replace or repair &D3 material damage or any loss of the
goods insured or shall be used to reimburse the Borrower for the
replacement or repair or such goodtl .. Any such replacements shall
have both their source &nd origin in countries included in Code 941
of the A.I.D. Geographic Code Book and sb&ll be otherwise subject to
the provisions of this AgreeneDt.
SICTION 7.09.
Port C!)frges.
With respect to ocean freight
costs which qualify as eligiale for financing under the Loan, A. I.D .
ＨｾＩ＠
will finance ninety percent
shipment, and ninety-eight
free-out terms_.
of free-out
ＨＹＸｾＩ＠
of all ocean freight costs of each
of such costs on any
ｳｨｩｾ･ｮｴ＠
under
The remaining. ten percent (lo%), or two percent
ｳｨｾｰｭｮｴＬ＠
ＨｾＩ＠
represent pQrt charges in Indonesia and
Borrower coveµJ.nts that it shall make available foreign exchange to
ｾｲ･ｳ｣ｩ｢､＠
finance said port charges in aceoxdance with procedures which may be
by A. I.D. in Implementation Letters.
SECTION 7.10.
Notification to Potential Suppliers.
that a.11 United States firms shall
ｾｶ･＠
In order
the opportunity to participate
in :furnishing goods and serrices to be tine.need under the Loa.n, the
-19Borrcwer and Beneficiary shall furnish to A.l.D. such information with
regard thereto, and
such times, as A.!.D . may request in Implementa｡ｾ＠
tion let.ter:s .
SECTION
7.u.
Information and Marking.
Borrower and Beneficiary
shall. give public1ty to the U:>an and the Project a.a a program of United
StEa.tes
&id.$
publicity
identify
?.roject :3i ｴｾＬ＠
!.l'1e
and prcvide other ma.rkingi c;r
pre&e.ribed in Implementation Letters .
ｾ｣Ｚ＠
ARtICLI VIII
Disbm'sement.s
ｄｩｳ｢ｾｲＮ｡･ｭｮｴ＠
SEC-T!ON 8 . 01.
ｓｴｾ･Ｚｳ＠
ｂ｡ｮｫｾ
Ｎ＠
- Letters of Commitment to United
Upon satiafac;tion b;r both :Borrower and Beneficiary of
cond'itioru p?'e.cedent, tne .Beneficiary may, from ti.me to time, I1equest
A.l.D. to
more :Jnited
A.1.D.,
letters of COlll!litment for specified amounts to one or
ｩｳｾ･＠
ｓｴｾ･ｳ＠
ｾｯｭｩｴｮｧ＠
｢｡ｮｋ｣ｩｾ＠
ａ
by Borrower and satisfactory to
Ｎｾ
､･ｾｩｧｮＦｴ＠
ｄ
Ｎ＠
to reimburse such bank. or banks for payments
made by them to contra.cto£S
suppliers, through the use of Letters
ｯｾ＠
ofl·C:redit or otherwise, for costa of
the Project
ment, o
ｩｾ＠
ｧｯＮｾ＠
a.M services procured f'or
&ocr:rrda.nce with tne terms and conditions of this Agree-
Payment by a. bank to
i).
cont.ractor or s·•..tppli er wil.l be made by
the 'b::ui.k 'L!.pon precen.te."th:m cf .such iiupporting documentation as A.1.D.
may ｰｲ･｡ｾｩＧ｢＠
in LettEira ot Cammi tmen.t al.l.d I.mp.lamentea.tion Letters.
Bs.nking emorges :incurred in. eounectio!l w.i.th Letters of Cammi t.me.llt and
Let-cers of Credit shall. be for
be
ｦＺｬｲｩｾ｣･､＠
under the k.an,
ｾｨ･＠
account of the Beneficiar.r and may
-20SECTION 8.02.
Other Forms of Disbursement .
Disbursement of
the Loan may also be made through such other means as the Borrower,
Beneficiary and A.I.D. may agree to in writing.
SECTION 8 . 03.
Date of Disbursement.
Disbursements by A.I.D.
shall be deemed to occur, in the case of disbursements pursuant to
Section 8 . 01, on the date on which A.I .D. makes a
to
､ｩｳ｢ｵ］･ｭｾｴ＠
ｴｾ
･＠
Be'.:j,efic iary, to its designee, or to a banking institution rnrs:.iar:t to
a
Letter of Connnitment.
SECTION 8.04.
Terminal Date for Disbursement.
Except as
A.I.D. may otherwise agree in writing, no Letter of Cormnitment, or
ｯｾｨ･ｲ＠
commitment documents which may be called for by another
ｦｯｾ＠
of
disbursement under Section 8.02, or amendment thereto, shall be issued
in response to requests received by A.I.D. after July 31, 1977 and
no disbursement shall be made against documentation received by
A.I.D. or any bank described in Section 8.01 after
ｄ･ｾｭ｢ｲ＠
31, 1980.
A.I.D., at its option, may at any time or times after December 31, 1980
reduce the Loan by all or any part thereof for which documentation was
not received by such date.
ARTICLE IX
Cancellation and Suspension
SECTION 9.01.
Cancellation by the Borrower.
The Borrower or
Beneficiary, may, with the prior written consent of A. I.D., by written
ＭＲＱｾ＠
notice to A . 'LD,; cancel 9.nY J;.>art of the Loan (i) which, prior to the
A.! D ha.s r.ot disbursed or committed itself tc
giving of such
ｮｯｴｾ｣･Ｄ＠
diaburse, or (ii) which ha.s not then been ut·i lized tb.r o'.lgh the i5 suance
of irrevocabl e Letters of Credit or th.ro'..lgh bank
ma.de ether than
ｰ｡ｾ･ｮｴＮｳ＠
under irrevocable Letters of Credit
SECIION 9 "02"
R-l!e;:U 9f
ｄ･｟ｦｳＺＮｾ［＠
ｾｰﾣ･ｊｮＮｴｩ
Ｎ＠
:.f
.;.,ny oc.e
or more of the follcv'tng e=.vente ( "Eve!:.-:. a of Def:.:J..l t ") ar1a.1.l oc:-. \lr •
(a)
ｔｵｾ＠
Bor:tC•)oft:."!." ')1'
Benefic l.&.t'Y sr..a.l.l.
ha.Ye
f£:1.:i.led tc pe.y ｾｬｯｨｅｮ＠
due arq interest o·r in.:.t.a.J.lment cf .P:r·:i:itipa.l re-1.u l red •j.nder
t!:is
(b)
ａｧｲ･ｾＲｮｴ
［＠
The 'Bcl''I'O'ile:r· o c Benef:i ":! ｾｴ
with
［ｴＧ＠
sM. ll h&.:;e f .J.1 lea to -;0mpJ. y
other pl'ovi.sion cf this
｡ｲＬｯｾ＠
lncl'...dingJ b·ut
Ｎａｧｲ･ｭｾ＠
v:lthrr.it limitation, the oblig&t1.on to 1J.azry out the Project
with due diligence and efficiency;
(c)
nie !oncnrer shall have f•Ued to pay when due any interest
or
&ey
inste.1.lJnent of ｐｲｩＺｵｾｰ｡ｬ＠
under 'd.fr7 othe: loan ag.reementj
or am,y c;.tber payment reqi.: Lred
&r::;}' ｧｵ｡ｲＮｮｾｹ＠
｡ｧｲ･ｭｮｴ
ｾ＠
or
&DJ' other 11greement between the Borre"111e r r ex:.sting by vi.tt...te of law
CI·
oi. ﾷＮｾｲ
ｲ＠
legr.::... authority and nee essar-.1 fer the conduct or the
..
Benefi cia.ry' s bu&iness,. fot the e:ompletion of the
Projee;t , o:- for CS.l'"t"'.j'ing ot.t c'!
Agreement
ｾｨ｡Ｎｕ＠
ｴｾ･＠
have be:en revokedj
tE:rllll
｣ｾ･ｬ､ＺＱ＠
of tbi s Loan
or denied
in such mt-__."'lner as to m&K.e i't improbable that the Beneficiary
-·
will be able to perform its obligil.tions under th:ls Loan
J.greemenl or that t,he I.Dan prov:tded foz be.rein will aub-
•tantially f'illill the pU'pons for which it hae been
eatabliahed; or
{g) ?he ｂ･ｾｩ｣ＦＮＱＷ＠
.shall have voluntarily entered into or
been subjected involuntaril.7 to aD1' procedur·e under the
l.a.w> in effec t within the Republic
ｯｾ＠
I!'ldonesia fer the
:r•li ef of a fi .n anciall;y dietreaaed -debtor which is sub-
atantially equiva.lent to a petition in bankruptcy or the
appointment of & receiver for the benefit of creditors:
then A.I.n.
'·
ｭ｡ｹｾ＠
ｾｴ＠
its option, give to t'b.e .Borrower or Beneficiary notice
that all or any part of the unrepaid Princip&l. ahall be due and payable
sixty (6G) ｾ＠
tl::.erea.fter, and, unless the Bvent of Default is ｣ｾ･､＠
vlihin auc.ll a1xt7 ( 60) days:
-23(i)
such unrepaid Principal and an,y accrued interest
hereunder shall be due and payable immediately; and
(ii)
the amount of an;y further disbursements made under
then outstanding irrevocable Letters of Credit or
otherwise shall become due a.nd payable as soon as
made.
It the Benef'iei&.ry' is in default• the Borrower, a.t itu
ｯｰｴＮｾ｣｟Ｌｮ＠
may declare all or an;y part of the unrepaid Principal. under the loan from
the Borrower to the Benefi.ciaey pursuant; to Section 10. 01 hereof to be
due . and p11¥&ble immediately, and ·..ipon any
\·
declaration, unless the
ｳﾷｵｾｨ＠
default mA1' be cured and iB cured within sixty (60) da.:ys theree.ftel",
such principal and all
..............
payable immediatalf.
in
accrued thereon sh&ll become due and
ｩｮｴ･ｲｾｳ＠
'?he BorrcNer 1hal.l not exercise the right set forth
the preceding sentence hereunder without the prior written concurrence
of A. I .D.
§!1.spen..eion of lll.sburse.meni.
SECTIOK 9 . 03 .
any
ｴｩｭ･
In the event that at
ｾ＠
(a) An Event of' Default
(b )
ｨ｡Ｎｾ＠
occur-red;
An event occurs that A.! D. determines to be an extra-
ordinary
ｾｩｴｵ｡ｯｮ＠
that
ｭ｡ｫ･ｾ＠
it improbable either that
the purpc.se of the Loe.n will be attained. o:r· that the
Borro-wer or Beneficiary will be able to pexform their
obligations under this Agreement; or
(c) Any disbursement by A.I . D. would be in violation of the
legislation governing A. I.D. ; ·
t
.·
-24( d)
The Borrower or Beneficiary shall have failed to pay when
due any interest or
ｾ＠
installment of Principal or any
ｾ＠
other payment required under any other loan agreanent, any
'·
....i .
guaranty- agreement, or any other agreement between the
Borrower or &n1' of its e.gencies and the Government of the
United States or
atcy'
of its agencies;
Then A.I.D. may, at its option:
(i) suspend ar cancel out!tandi::g commitll.ent ､ｯ｣ｾＮＱｮ･ｴｳ＠
to the extent that they have not been utilized
through the ie11uance of irrevocable Letters of
Credit v
through bank. payments made other than
under irreToc&ble Letters of Credit, in which
event A.I.D. aball give notice to the Borrower
and Benetici&l'Y promptly thereafter;
( 11)
decline to make diab·11rsements other than under
out•tancllag caaaitment d.ocuments;
(iii)
decline to issue additional commitment documents;
(iT) at A.I.D.'s expense, direct that title to gocds
fin.a.need under tibe !Dan shall be tranaferred to
A.I.D. if the goods are from a source outside the
country of the
ｂｯｲｷ･
Ｍｾ＠
are in a deliven.ble a tate
and bave. c.ot been ottl.Q&ded in ports of entry of
the country of the Bonower.
Aziy
disbursement made
or to be ma4-e under the Loan with respect to such
transferred goola shall be
·I"
､･ｵｾｴ＠
from Principal.
-25SECTION 9.04.
ｾｮ｣･ｬ｡ｴｩｯ＠
by A.1.D.
of disbu.rsements pursuant to Section
ＹＮＰｊｾ＠
Following any suspension.
if the cause or causes for such
+....
suspension ,of' disbur sements shall not h