India - Bombay Urban Transport Project : Loan 1335 - Maharashtra Agreement - Conformed

CONFORMED COPY LOAN NUMBER 1335 IN MAHARASHTRA AGREEMENT (Bombay Urban Transport Project) between GOVERNOR OF THE STATE OF MAHARASHTRA and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Dated December 20, 1976 MAHARASHTRA AGREEMENT AGREEMENT, dated December 20, 1976, between GOVERNOR OF THE STATE OF MAHARASHTRA (hereinafter called Maharashtra) and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (hereinafter called the Bank). WHEREAS by the Loan Agreement of even date herewith between the Bank and Bombay Metropolitan Region Development Authority (hereinafter called the Borrower) the Bank has agreed to make to the Borrower a loan in various currencies equivalent to twenty-five million dollars ($25,000,000), on the terms and conditions set forth in the Loan Agreement, but only on condition that Maharashtra undertakes the obligations hereinafter set forth; and WHEREAS Maharashtra, in consideration of the Bank's entering into the Loan Agreement with the Borrower, has agreed to undertake the obligations hereinafter set forth; NOW THEREFORE the parties hereto hereby agree as follows: -2- ARTICLE I Definitions Section 1.01. Wherever used in this Agreement, unless the context otherwise requires, the several terms defined in the Loan Agreement and in the General Conditions (as so defined) have the respective meanings therein set forth. 9 -3- ARTICLE II Particular Covenants Section 2.01. Maharashtra undertakes to conduct, at least an- rually, a review of the Borrower's'operations, and to provide to the Borrower such funds and other assistance as may be required by the Borrower to meet all obligations it shall have incurred within the scope of its authority under the BMRDA Act. Section 2.02. (a) Maharashtra and the Bank shall cooperate fully to ensure that the purposes of the Loan will be accomplished. To that end, Maharashtra and the Bank shall from time to time, at the request of either party, exchange views through their repre- sentatives with regard to the performance of their respective ob- ligations under this Agreement, the performance by the Borrower of its obligations under the Loan Agreement and the Subsidiary Loan Agreement, the performance by BMC of its obligations under the Project Agreement, the administration, operations, resources and expenditures of BEST and other matters relating to the purposes of the Credit. (b) Maharashtra hereby approves the Project for purposes of Section 14(3) of the BMRDA Act. Maharashtra shall take all ac- tion which shall be necessary on its part to cause and enable the Borrower to perform its obligations under the Loan Agreement and the Subsidiary Loan Agreement and to enable BMC to perform its ob- ligations under the Project Agreement and the Subsidiary Loan Agree- ment, and shall not take or permit any of its agencies to take any action which would prevent or interfere with the performance of any such obligations of the Borrower or BMC. - 4- Section 2.03. Maharashtra shall take such action as may be required under Section 22(2) of the BMRDA Act to enable the Borrowe7 to comply with the requirements of Section 4.02 of the Loan Agree- ment. Section 2.04. (a) Maharashtra shall not amend, suspend or abrogate the BMRDA Act in such a way as to materially or adversely affect the ability of the Borrower to carry out its obligations under the Loan Agreement or the Subsidiary Loan Agreement. (b) Maharashtra shall not amend, suspend, or abrogate the BMC Act in such a way as to materially and adversely affect the ability of BMC to carry out its obligations under the Project Agreement or the Subsidiary Loan Agreement. -5- ARTICLE III Effective Date; Termination; Cancellation and Suspension Section 3.01. This Agreement shall come into force and effect on the date upon which the Loan Agreement becomes effective. If the Loan Agreement shall terminate pursuant to Section 12.04 of the General Conditions, the Bank shall promptly notify Maharashtra of this event and, upon the giving of such notice, this Agreement and all obligations of the parties hereunder shall forthwith term- inate. Section 3.02. This Agreement shall terminate and all obliga- tions of Maharashtra and the Bank hereunder shall cease and deter- mine on the date on which the Project Agreement terminates in ac- cordance with its terms. Section 3.03. All the provisions of this Agreement shall continue in full force and effect notwithstanding any cancellation or suspension under the Loan Agreement. -6- ARTICLE IV Miscellaneous Provisions Section 4.ol. Any notice or request required or permitted to be given or made under this Agreement and any agreement between the parties contemplated by this Agreement shall be in writing. Such notice or request shall be deemed to have been duly given or made when it shall be delivered by hand or by mail, telegram, cable, telex or radiogram to the party to which it is required or permitted to be given or made at such party's address hereinafter specified or at such other address as such party shall have desig- nated by notice to the party giving such notice or making such request. The addresses so specified are: For Maharashtra: Secretary to the Government of Maharashtra Urban Development Department Mantralaya Building Bombay 32 (400-032) India For the Bank: International Bank for Reconstruction and Development 1818 H Street, N.W. Washington, D.C. 20433 United States of America Cable address: Telex: INTBAFRAD 40098 (ITT) Washington, D.C. 24823 (RCA) or 64145 (wui) IN WITNESS WHEREOF, the parties hereto, acting through their representatives thereunto duly authorized, have caused this Agree- ment to be signed in their respective names in the District of Columbia, United States of America, as of the day and year first above written. For and on behalf of the GOVERNOR OF THE STATE OF MAHARASHTRA By /s/ Kewal Singh Authorized Representative INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT By /s/ Ernest Stern Regional Vice President South Asia