TAKING OR PROPOSES TO TAKE
WITH RESPECT THERETO;
(H)
DEFAULT.
PROMPTLY UPON THE OCCURRENCE OF AN EVENT OF DEFAULT OR
POTENTIAL EVENT OF DEFAULT, NOTIFY IFC BY FACSIMILE SPECIFYING THE NATURE OF
THAT EVENT OF DEFAULT OR POTENTIAL EVENT OF DEFAULT AND ANY STEPS THE BORROWER
IS TAKING TO REMEDY IT; AND
(I)
OTHER INFORMATION.
PROMPTLY PROVIDE TO IFC SUCH OTHER
INFORMATION AS IFC FROM TIME TO TIME REQUESTS ABOUT THE BORROWER, ITS
SUBSIDIARIES, THEIR RESPECTIVE ASSETS AND THE PROJECT.
SECTION 5.04.
INSURANCE.
(A) THE BORROWER SHALL CAUSE ITS OPERATIONS IN THE
COUNTRY TO EFFECT AND MAINTAIN THE INSURANCE COVERAGE SPECIFIED IN ANNEX B AT
ALL TIMES, UNDER FORMS OF POLICIES AND WITH INSURERS AND REINSURERS ACCEPTABLE
TO IFC.
FOR THE AVOIDANCE OF DOUBT, THE BORROWER'S OBLIGATIONS UNDER THIS
SECTION 5.04 SHALL SURVIVE A CONVERSION OF THE CONVERSION AMOUNT INTO COMMON
STOCK PURSUANT TO ARTICLE VII (CONVERSION OF THE C LOAN).
(B)
ALL POLICIES OF LIABILITY INSURANCE REQUIRED TO BE MAINTAINED IN
ACCORDANCE WITH ANNEX B SHALL BE ENDORSED TO NAME IFC AND ITS OFFICERS AND
EMPLOYEES AS ADDITIONAL INSUREDS.
ARTICLE VI
EVENTS OF DEFAULT
SECTION 6.01.
ACCELERATION AFTER DEFAULT.
IF ANY EVENT OF DEFAULT OCCURS AND
IS CONTINUING (WHETHER IT IS VOLUNTARY OR INVOLUNTARY, OR RESULTS FROM OPERATION
OF LAW OR OTHERWISE), IFC MAY, BY NOTICE TO THE BORROWER, REQUIRE THE BORROWER
TO REPAY THE C LOAN OR SUCH PART OF THE C LOAN AS IS SPECIFIED IN THAT NOTICE.
ON RECEIPT OF ANY SUCH NOTICE, THE BORROWER SHALL IMMEDIATELY REPAY THE C LOAN
(OR THAT PART OF THE C LOAN SPECIFIED IN THAT NOTICE) AND PAY ALL INTEREST
ACCRUED ON IT, THE PREPAYMENT PREMIUM SPECIFIED IN SECTION 2.07 ON THE AMOUNT OF
THE C LOAN WHOSE PAYMENT IS ACCELERATED AND ANY OTHER AMOUNTS THEN PAYABLE UNDER
THIS AGREEMENT. THE BORROWER WAIVES ANY RIGHT IT MIGHT HAVE TO FURTHER NOTICE,
PRESENTMENT, DEMAND OR PROTEST WITH RESPECT TO THAT DEMAND FOR IMMEDIATE
PAYMENT.
SECTION 6.02.
EVENTS OF DEFAULT.
IT SHALL BE AN EVENT OF DEFAULT IF:
(A)
FAILURE TO PAY PRINCIPAL OR INTEREST.
THE BORROWER FAILS TO PAY
WHEN DUE ANY PART OF THE PRINCIPAL OF, OR INTEREST ON, THE C LOAN AND SUCH
FAILURE CONTINUES FOR A PERIOD OF THREE (3) BUSINESS DAYS;
40
(B)
FAILURE TO PAY OTHER IFC LOANS.
THE BORROWER FAILS TO PAY WHEN
DUE ANY PART OF THE PRINCIPAL OF, OR INTEREST ON, ANY LOAN FROM IFC TO THE
BORROWER OTHER THAN THE C LOAN AND ANY SUCH FAILURE CONTINUES FOR THE RELEVANT
GRACE PERIOD ALLOWED FOR IN THE AGREEMENT PROVIDING FOR THAT LOAN;
(C)
FAILURE TO COMPLY WITH OBLIGATIONS.
THE BORROWER (OR, IN THE
CASE OF THE BLOCK Z-1 LICENSE, ANY SUBSIDIARY) FAILS TO COMPLY WITH ANY OF ITS
OBLIGATIONS UNDER THIS AGREEMENT OR ANY OTHER TRANSACTION DOCUMENT OR ANY OTHER
AGREEMENT BETWEEN THE BORROWER AND IFC (OTHER THAN FOR THE PAYMENT OF THE
PRINCIPAL OF, OR INTEREST ON, THE C LOAN OR ANY OTHER LOAN FROM IFC TO THE
BORROWER), AND ANY