Administration of Loan. The general administration of the Loans shall ---------------------- be by Administrative Agent and shall be governed by the provisions set forth in Exhibit C attached hereto and incorporated herein by reference.
Administration of Loan. NOTWITHSTANDING ANY LANGUAGE IN THIS AGREEMENT SEEMINGLY TO THE CONTRARY, BORROWER SHALL NOT BE ENTITLED TO ANY DISBURSEMENT OF LOAN PROCEEDS HEREUNDER UNLESS AND UNTIL BORROWER HAS SATISFIED ALL OF THE CONDITIONS OF LENDING SET FORTH THIS AGREEMENT. LENDER SHALL MAKE DISBURSEMENTS UNDER THE LOAN IN THE FOLLOWING MANNER:
Administration of Loan. For each loan:
(a) Lender shall hold the Loan Documents and shall receive all payments of principal, interest and other fees and charges. Lender shall maintain accurate records of: (i) any and all disbursements of the Loan, (ii) each payment of principal and interest made by Borrower for credit to the Loan, and (iii) all accrued interest on the Loan.
(b) Lender shall immediately notify VSBFA in writing if there are any errors, omissions or mistakes with respect to any security interests, liens and/or guaranties or if the Loan has not been closed and disbursed in accordance with Lender’s loan commitment or VSBFA’s approval letter. Lender shall take all actions necessary and proper for administering and servicing the Loan in all respects consistent with all applicable laws and regulations and in a manner consistent with its normal lending practices. Lender shall take such usual and customary steps necessary to maintain perfected priority security interests in any collateral for the Loan, including, without limitation re-perfection of the security interest in the event of changes of in the collateral or Borrower. Failure of Lender to perfect liens and security interests or obtain guaranties required as conditions in VSBFA’s approval letter or Lender’s loan commitment, or failure of Lender to obtain written approval from VSBFA for repayment terms or a repayment schedule other than that originally approved by VSBFA, or failure of Lender to comply with the terms and conditions of this Agreement, shall release VSBFA from its obligations under this Agreement.
(c) Upon notice to Lender, VSBFA may inspect the files of Lender relating to the Loan, during normal business hours of Lender. Lender agrees to retain all documents and instruments with respect to the Loan until one year from the date of loan payout or January 30, 2020, whichever is later, which shall be subject to inspection by VSBFA at reasonable times upon reasonable notice.
(d) Lender will make available to the Inspector General of the U.S. Treasury all books and records related to the use of the funds provided by VSBFA, subject to the Right to Financial Privacy Act (12 U.S.C. § 3401 et seq.),
(e) Lender shall not, without prior written consent of VSBFA, (VSBFA to provide written response to Lender within 10 business days of each notice or request from Lender.)
(i) make or consent to any material amendment, extension or modification of or addition or supplement to the Note, or any of the terms or conditio...
Administration of Loan. Subject always to the limitations of Administrative Agent's liability, as set forth in Sections 7.11 and 12 hereof:
Administration of Loan. Exemption from Import Restriction
Administration of Loan. Notwithstanding any language in this Agreement seemingly to the contrary, Borrower shall not be entitled to any disbursement of Loan proceeds hereunder unless and until Borrower has satisfied all of the conditions of lending set forth in paragraph 5 of this Agreement. Upon satisfaction of such conditions of lending to the satisfaction of Lender, Lender will make Loan disbursements up to the respective maximum principal amounts of the Loans provided that, with respect to each Construction Project, (i) Lender’s Construction Consultant shall have completed periodic inspection(s) of the Construction Project and shall have advised Lender in writing that work to date on the Construction Project is satisfactory, (ii) there is no uncured Event of Default under any of the Loan Documents, and (iii) all of the other requirements set forth in this Loan Agreement for advancement of loan proceeds are satisfied.
Administration of Loan. Only upon the unanimous consent of each Lender may the Agent (i) agree to any modification of any of the terms of the Credit Documents or any other agreement or instrument evidencing or securing this Loan; (ii) waive any of such terms or give or withhold consents or approvals to any actions or failure to act by the Borrower; (iii) reduce the principal of or the interest rate or extend the stated maturity of the Loan (other than pursuant to the exercise of Borrower's rights under Section 2.5); (iv) agree upon any extension, modification, refinancing, refunding, assumption or other restructuring of the Loan.
Administration of Loan. Section 5 Exemption from Import Restriction Section 6 Notices and Requests Schedule 1 Description of Project Schedule 2 Allocation of Proceeds of Loan Schedule 3 Amortization Schedule Schedule 4 General Terms and Conditions Schedule 5 Procurement Procedure Schedule 6 Commitment Procedure (III) Schedule 7 Reimbursement Procedure Schedule 8 Transfer Procedure Loan Agreement No. PH-P58, dated September 9, 1983, between THE OVERSEAS ECONOMIC COOPERATION FUND and THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES Taking into consideration the contents of the Exchange of Notes between the Government of Japan and the Government of the Republic of the Philippines dated July 18, 1983, concerning Japanese financial assistance to be extended to the Republic of the Philippines, THE OVERSEAS ECONOMIC COOPERATION FUND (hereinafter referred to as "the Fund") and THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES (hereinafter referred to as "the Borrower") herewith conclude the following Loan Agreement (hereinafter referred to as "the Loan Agreement", which includes all agreements supplemental (hereto).
Administration of Loan. (1) The Borrower shall authorize Administracion Nacional de Acueductos y Alcantarillados as the executing agency of the Project (hereinafter referred to as "as Executing Agency") to implement the Project.
(2) Should the funds available from the proceeds of the Loan be insufficient for the implementation of the Project, the Borrower shall make arrangements promptly to provide such funds as shall be needed.
(3) The Borrower shall cause the Executing Agency to furnish the Fund with progress reports for the Project on a semi-annually basis (in April and October of each year) until the Project is completed, in such form and in such detail as the Fund may reasonably request.
(4) Promptly, but in any event not later than six (6) months after completing of the Project, the Borrower shall cause the Executing Agency to furnish the Fund with a project completion report in such form and in such detail as the Fund may reasonably request.
(5) The Borrower shall at all times operate and maintain, or cause to be operated and maintained, any facilities relevant to the Project, and Promptly as needed, make or cause to be made all necessary repairs and renewals thereof.
Administration of Loan. (1) The Borrower shall authorize Companhia de Saneamento do Parana (hereinafter referred to as "the Executing Agency") to implement the Project.
(2) The Borrower shall cause the Executing Agency to employ consultants for the implementation of the Project.
(3) Should the funds available from the proceeds of the Loan be insufficient for the implementation of the Project, the Borrower shall make arrangements promptly to provide such funds as shall be needed.
(4) The Borrower shall at all times operate and maintain, or cause to be operated and maintained, any facilities relevant to the Project, and promptly as needed, make or cause to be made all necessary repairs and replacements thereof.
(5) The Borrower shall cause the Executing Agency to furnish the Fund with progress reports for the Project on a quarterly basis (as of March, June, September and December of each year) until the Project is completed, in such form and in such detail as the Fund may reasonably request.
(6) Promptly, but in any event not later than six (6) months after completion of the Project, the Borrower shall cause the Executing Agency to furnish the Fund with a project completion report in such form and in such detail as the Fund may reasonably request.
