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(2) The designated institution will open a bank
account to be used only in connexion with the Grant in the name
of the designated institution in an authorized foreign exchange
bank of Japan to be selected by the designated institution.
(3) The Government of Japan will make payments in Japanese yen to cover the obligations incurred by the
designated institution under the verified contracts referred to
in sub-paragraph (1) above to the account referred to in
sub-paragraph (2) above, when payment requests are presented by the bank referred to in sub-paragraph (2) above to the
Government of Japan under an authorization to pay issued by the designated institution.
5.
The designated institution will:
(a)
ensure proper and effective maintenance and use
of the equipment, and
(b)
bear all expenses, other than those covered by
the Grant, necessary to the implementation of the
Grant.
I have further the honour