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validations and approvals necessary therefor have been duly and validly performed or given;

(b) that the Subsidiary Loan Agreement has been duly authorized or ratified by, and executed and delivered on behalf of, the Borrower and Sumitomo respectively, that all acts, consents, validations and approvals necessary under the laws of Japan to render the Subsidiary Loan Agreement valid and effective have been duly performed or given, and that the Subsidiary Loan Agreement consitutes a valid and binding obligation of the Borrower and of Sumitomo respectively in accordance with its terms.

Section 7.03. A date 60 days after the date of this Agreement is hereby specified for the purposes of Section 9.04 of the Loan Regulations.

Section 8.01. The Closing Date shall be July 31, 1961.

Section 8.02. The following addresses are specified for the purposes of Section 8.01 of the Loan Regulations:

For the Borrower:

The Japan Development Bank
8, 1-chome Marunouchi
Chiyoda-ku
Tokyo, Japan

Alternative address for cablegrams and radiograms:

Devebank, Tokyo

For the Bank:

International Bank for Reconstruction and Development
1818 H Street, N.W.
Washington 25, D. C.
United States of America

Alternative address for cablegrams and radiograms:

Intbafrad
Washington, D. C.

In witness whereof, the parties hereto, acting through their representatives thereunto duly authorized, have caused this Loan Agreement to be signed in their respective names and delivered in the District of Columbia, United States of America, as of the day and year first above written.

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