Cancellation by the Administrator. If (a) the right of the Recipient to make withdrawals from the Grant Account shall have been suspended with respect to any amount of the Grant for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the Recipient, that an amount of the Grant will not be required to finance the Project’s costs to be financed out of the proceeds of the Grant, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the Grant, that corrupt or fraudulent practices were engaged in by representatives of the Recipient or of a beneficiary of the Grant during the procurement or the execution of such contract, without the Recipient having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the Grant, or (d) at any time, the Administrator determines that the procurement of any item is inconsistent with the procedures set forth or referred to in this Agreement and establishes the amount of the expenditures in respect of such item which would otherwise have been eligible for financing out of the proceeds of the Grant or, (e) after the Closing Date, an amount of the Grant shall remain unwithdrawn from the Grant Account, the Administrator may, by notice to the Recipient, terminate the right of the Recipient to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant shall be cancelled.
Appears in 5 contracts
Samples: Trust Fund Grant Agreement, Grant Agreement, Grant Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Credit Account shall have been suspended with respect to any amount of the Grant Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the GrantCredit, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantCredit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantCredit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Credit is inconsistent with the procedures set forth or referred to in this the Trust Fund Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orCredit, or (e) after the Closing Date, an amount of the Grant Credit shall remain unwithdrawn from the Grant Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Credit shall be cancelledcanceled.”
Appears in 4 contracts
Samples: Credit Agreement, Credit Agreement, Trust Fund Credit Agreement
Cancellation by the Administrator. If If: (a) the right of the Recipient Borrower to make withdrawals from the Grant Credit Account shall have been suspended with respect to any amount of the Grant Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the GrantCredit, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantCredit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantCredit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Credit is inconsistent with the procedures set forth or referred to in this the Trust Fund Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orCredit, or (e) after the Closing Date, an amount of the Grant Credit shall remain unwithdrawn from the Grant Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Credit shall be cancelledcanceled.”
Appears in 3 contracts
Samples: Trust Fund Credit Agreement, Trust Fund Credit Agreement, Trust Fund Credit Agreement
Cancellation by the Administrator. If If: (a) the right of the Recipient to make withdrawals from the Grant Account shall have been suspended with respect to any amount of the Grant for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the Recipient, that an amount of the Grant will not be required to finance the Project’s costs to be financed out of the proceeds of the Grant, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the Grant, that corrupt or fraudulent practices were engaged in by representatives of the Recipient or of a beneficiary of the Grant during the procurement or the execution of such contract, without the Recipient having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the Grant, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Grant is inconsistent with the procedures set forth or referred to in this the Trust Fund Grant Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orGrant, or (e) after the Closing Date, an amount of the Grant shall remain unwithdrawn from the Grant Account, the Administrator may, by notice to the Recipient, terminate the right of the Recipient to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant shall be cancelled.
Appears in 3 contracts
Samples: Grant Agreement, Trust Fund Grant Agreement, Grant Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Credit Account shall have been suspended with respect to any amount of the Grant Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the GrantCredit, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantCredit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantCredit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Credit is inconsistent with the procedures set forth or referred to in this the Trust Fund Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orCredit, or (e) after the Closing Date, an amount of the Grant Credit shall remain unwithdrawn from the Grant Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Credit shall be cancelled.”
Appears in 3 contracts
Samples: Fund Credit Agreement, Credit Agreement, Fund Credit Agreement
Cancellation by the Administrator. If (a) the right of the Recipient to make withdrawals from the Grant Account shall have been suspended with respect to any amount of the Grant for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the Recipient, that an amount of the Grant will not be required to finance the Project’s costs to be financed out of the proceeds of the Grant, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the Grant, that corrupt or fraudulent practices were engaged in by representatives of the Recipient or of a beneficiary of the Grant during the procurement or the execution of such contract, without the Recipient having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the Grant, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Grant is inconsistent with the procedures set forth or referred to in this the Trust Fund Grant Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orGrant, or (e) after the Closing Date, an amount of the Grant shall remain unwithdrawn from the Grant Account, the Administrator may, by notice to the Recipient, terminate the right of the Recipient to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant shall be cancelled.
Appears in 2 contracts
Samples: Trust Fund Grant Agreement, Trust Fund Grant Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Interim Fund Credit Account shall have been suspended with respect to any amount of the Grant Interim Fund Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Interim Fund Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the GrantInterim Fund Credit, or (c) at any time, time the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantInterim Fund Credit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Interim Fund Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, situation and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantInterim Fund Credit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Interim Fund Credit is inconsistent with the procedures set forth or referred to in this the Interim Fund Development Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orInterim Fund Credit, or (e) after the Closing Date, an amount of the Grant Interim Fund Credit shall remain unwithdrawn from the Grant Interim Fund Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of to the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Interim Fund Credit shall be cancelledcanceled.”
Appears in 2 contracts
Samples: Development Credit Agreement, Credit Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Interim Fund Credit Account shall have been suspended with respect to any amount of the Grant Interim Fund Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Interim Fund Credit will not be required to finance the Project’s 's costs to be financed out of the proceeds of the GrantInterim Fund Credit, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantInterim Fund Credit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Interim Fund Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantInterim Fund Credit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Interim Fund Credit is inconsistent with the procedures set forth or referred to in this the Interim Fund Development Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant Interim Fund Credit, or, (e) after the Closing Date, an amount of the Grant shall remain unwithdrawn from the Grant Account, the Administrator may, by notice to the Recipient, terminate the right of the Recipient to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant shall be cancelled.
Appears in 2 contracts
Samples: Credit Agreement, Credit Agreement
Cancellation by the Administrator. If If: (a) the right of the Recipient to make withdrawals from the Grant Account shall have been suspended with respect to any amount of the Grant for a continuous period of thirty (30) days, ; or (b) at any time, the Administrator determines, after consultation with the Recipient, that an amount of the Grant will not be required to finance the Project’s costs to be financed out of the proceeds of the Grant, ; or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the Grant, that corrupt or fraudulent practices were engaged in by representatives of the Recipient or of a beneficiary of the Grant during the procurement or the execution of such contract, without the Recipient having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the Grant, ; or (d) at any time, the Administrator determines that the procurement of any item is inconsistent with the procedures set forth or referred to in this Agreement and establishes the amount of the expenditures in respect of such item which would otherwise have been eligible for financing out of the proceeds of the Grant or, Grant; or (e) after the Closing Date, an amount of the Grant shall remain unwithdrawn from the Grant Account, the Administrator may, by notice to the Recipient, terminate the right of the Recipient to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant shall be cancelled.
Appears in 2 contracts
Cancellation by the Administrator. If If: (a) the right of the Recipient to make withdrawals from the Grant Account shall have been suspended with respect to any amount of the Grant for a continuous period of thirty (30) days, or (b) at any time, the Administrator determines, after consultation with the Recipient, that an amount of the Grant will not be required to finance the Project’s costs to be financed out of the proceeds of the Grant, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the Grant, that corrupt or fraudulent practices were engaged in by representatives of the Recipient or of a beneficiary of the Grant during the procurement or the execution of such contract, without the Recipient having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the Grant, or (d) at any time, the Administrator determines that the procurement of any item is inconsistent with the procedures set forth or referred to in this Agreement and establishes the amount of the expenditures in respect of such item which would otherwise have been eligible for financing out of the proceeds of the Grant or, (e) after the Closing Date, an amount of the Grant shall remain unwithdrawn from the Grant Account, the Administrator may, by notice to the Recipient, terminate the right of the Recipient to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant shall be cancelled.
Appears in 1 contract
Samples: Trust Fund Grant Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Interim Fund Credit Account shall have been suspended with respect to any amount of the Grant Interim Fund Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Interim Fund Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the GrantInterim Fund Credit, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantInterim Fund Credit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Interim Fund Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantInterim Fund Credit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Interim Fund Credit is inconsistent with the procedures set forth or referred to in this the Interim Fund Development Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orInterim Fund Credit, or (e) after the Closing Date, an amount of the Grant Interim Fund Credit shall remain unwithdrawn from the Grant Interim Fund Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Interim Fund Credit shall be cancelled."
Appears in 1 contract
Samples: Credit Agreement
Cancellation by the Administrator. If If: (a) the right of the Recipient Borrower to make withdrawals from the Grant Credit Account shall have been suspended with respect to any amount of the Grant Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the GrantCredit, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantCredit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantCredit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Credit is inconsistent with the procedures set forth or referred to in this the Trust Fund Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orCredit, or (e) after the Closing Date, an amount of the Grant Credit shall remain unwithdrawn from the Grant Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Credit shall be cancelledcanceled."
Appears in 1 contract
Samples: Fund Credit Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Interim Fund Credit Account shall have been suspended with respect to any amount of the Grant Interim Fund Credit for a continuous period of thirty (30) days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Interim Credit will not be required to finance the Project’s 's costs to be financed out of the proceeds of the GrantInterim Fund Credit, or (c) at any time, time the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantInterim Fund Credit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Interim Fund Credit during the procurement or of the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantInterim Fund Credit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Interim Fund Credit is inconsistent with the procedures set forth or referred to in this the Interim Fund Development Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orInterim Fund Credit, or (e) after the Closing Date, an and the amount of the Grant Interim Fund Credit shall remain unwithdrawn from the Grant Interim Fund Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Credit shall be cancelled."
Appears in 1 contract
Samples: Development Credit Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Credit Account shall have been suspended with respect to any amount of the Grant Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the GrantCredit, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantCredit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantCredit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Credit is inconsistent with the procedures set forth or referred to in this the Trust Fund Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orCredit, or (e) after the Closing Date, an amount of the Grant Credit shall remain unwithdrawn from the Grant Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Credit shall be cancelledcanceled."
Appears in 1 contract
Samples: Credit Agreement
Cancellation by the Administrator. If If: (a) the right of the Recipient to make withdrawals from the Grant Account shall have been suspended with respect to any amount of the Grant for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the Recipient, that an amount of the Grant will not be required to finance the Project’s costs to be financed out of the proceeds of the Grant, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the Grant, that corrupt or fraudulent practices were engaged in by representatives of the Recipient or of a beneficiary of the Grant during the procurement or the execution of such contract, without the Recipient having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the Grant, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Grant is inconsistent with the procedures set forth or referred to in this the Trust Fund Grant Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant Grant, or, (e) after the Closing Date, an amount of the Grant shall remain unwithdrawn from the Grant Account, the Administrator may, by notice to the Recipient, terminate the right of the Recipient to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant shall be cancelled.
Appears in 1 contract
Samples: Trust Fund Grant Agreement
Cancellation by the Administrator. If If: (a) the right of the Recipient to make withdrawals from the Grant Account shall have been suspended with respect to any amount of the Grant for a continuous period of thirty (30) days, ; or (b) at any time, the Administrator determines, after consultation with the Recipient, that an amount of the Grant will not be required to finance the Project’s costs to be financed out of the proceeds of the Grant, ; or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the Grant, that corrupt or fraudulent practices were engaged in by representatives of the Recipient or of a beneficiary of the Grant during the procurement or the execution of such contract, without the Recipient having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the Grant, ; or (d) at any time, the Administrator determines that the procurement of any item is inconsistent with the procedures set forth or referred to in this Agreement and establishes the amount of the expenditures in respect of such item which would otherwise have been eligible for financing out of the proceeds of the Grant or, ; (e) after the Closing Date, an amount of the Grant shall remain unwithdrawn from the Grant Account, the Administrator may, by notice to the Recipient, terminate the right of the Recipient to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant shall be cancelled.
Appears in 1 contract
Samples: Grant Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Interim Fund Credit Account shall have been suspended with respect to any amount of the Grant Interim Fund Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Interim Fund Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the GrantInterim Fund Credit, or (c) at any time, time the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantInterim Fund Credit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Interim Fund Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantInterim Fund Credit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Interim Fund Credit is inconsistent with the procedures set forth or referred to in this the Interim Fund Development Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orInterim Fund Credit, or (e) after the Closing Date, an amount of the Grant Interim Fund Credit shall remain unwithdrawn from the Grant Interim Fund Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Interim Fund Credit shall be cancelledcanceled."
Appears in 1 contract
Samples: Credit Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Interim Fund Credit Account shall have been suspended with respect to any amount of the Grant Interim Fund Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Interim Fund Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the GrantInterim Fund Credit, or (c) at any time, time the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantInterim Fund Credit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Interim Fund Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantInterim Fund Credit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Interim Fund Credit is inconsistent with the procedures set forth or referred to in this the Interim Fund Development Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orInterim Fund Credit, or (e) after the Closing Date, an amount of the Grant Interim Fund Credit shall remain unwithdrawn from the Grant Interim Fund Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Interim Fund Credit shall be cancelled."
Appears in 1 contract
Samples: Credit Agreement
Cancellation by the Administrator. If (a) the right of the Recipient to make withdrawals from the Grant Account shall have been suspended with respect to any amount of the Grant for a continuous period of thirty (3) days, or (b) at any time, the Administrator determines, after consultation with the Recipient, that an amount of the Grant will not be required to finance the Project’s 's costs to be financed out of the proceeds of the Grant, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the Grant, that corrupt or fraudulent practices were engaged in by representatives of the Recipient or of a beneficiary of the Grant during the procurement or the execution of such contract, without the Recipient having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the Grant, or (d) at any time, the Administrator determines that the procurement of any item is inconsistent with the procedures set forth or referred to in this Agreement and establishes the amount of the expenditures in respect of such item which would otherwise have been eligible for financing out of the proceeds of the Grant or, (e) after the Closing Date, an amount of the Grant shall remain unwithdrawn from the Grant Account, the Administrator may, by notice to the Recipient, terminate the right of the Recipient to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant shall be cancelled.
Appears in 1 contract
Samples: Trust Fund Grant Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Interim Fund Credit Account shall have been suspended with respect to any amount of the Grant Interim Fund Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Interim Fund Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the GrantInterim Fund Credit, or (c) at any time, time the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantInterim Fund Credit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Interim Fund Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantInterim Fund Credit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Interim Fund Credit is inconsistent with the procedures set forth or referred to in this the Interim Fund Development Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orInterim Fund Credit, or (e) after the Closing Date, an amount of the Grant Interim Fund Credit shall remain unwithdrawn from the Grant Interim Fund Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Interim Fund Credit shall be cancelledcanceled.”
Appears in 1 contract
Samples: Credit Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Interim Fund Credit Account shall have been suspended with respect to any amount of the Grant Interim Fund Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Interim Fund Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the GrantInterim Fund Credit, or (c) at any time, time the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantInterim Fund Credit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Interim Fund Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantInterim Fund Credit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Interim Fund Credit is inconsistent with the procedures set forth or referred to in this the Interim Fund Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orInterim Fund Credit, or (e) after the Closing Date, an amount of the Grant Interim Fund Credit shall remain unwithdrawn from the Grant Interim Fund Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Interim Fund Credit shall be cancelledcanceled.”
Appears in 1 contract
Samples: Credit Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Interim Fund Credit Account shall have been suspended with respect to any amount of the Grant Interim Fund Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Interim Fund Credit will not be required to finance the Project’s 's costs to be financed out of the proceeds of the GrantInterim Fund Credit, or (c) at any time, time the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantInterim Fund Credit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Interim Fund Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantInterim Fund Credit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Interim Fund Credit is inconsistent with the procedures set forth or referred to in this the Interim Fund Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orInterim Fund Credit, or (e) after the Closing Date, an amount of the Grant Interim Fund Credit shall remain unwithdrawn from the Grant Interim Fund Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Interim Fund Credit shall be cancelled.”.
Appears in 1 contract
Samples: Credit Agreement
Cancellation by the Administrator. If (a) the right of the Recipient to make withdrawals from the Grant Account shall have been suspended with respect to any amount of the Grant for a continuous period of thirty (30) days, or (b) at any time, the Administrator determines, after consultation with the Recipient, that an amount of the Grant will not be required to finance the Project’s costs to be financed out of the proceeds of the Grant, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the Grant, that corrupt or fraudulent practices were engaged in by representatives of the Recipient or of a beneficiary of the Grant during the procurement or the execution of such contract, without the Recipient having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the Grant, or (d) at any time, the Administrator determines that the procurement of any item is inconsistent with the procedures set forth or referred to in this Agreement and establishes the amount of the expenditures in respect of such item which would otherwise have been eligible for financing out of the proceeds of the Grant or, (e) after the Closing Date, an amount of the Grant shall remain unwithdrawn from the Grant Account, the Administrator may, by notice to the Recipient, terminate the right of the Recipient to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant shall be cancelled.
Appears in 1 contract
Samples: Fund Grant Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Interim Fund Credit Account shall have been suspended with respect to any amount of the Grant Interim Fund Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Interim Fund Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the GrantInterim Fund Credit, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantInterim Fund Credit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Interim Fund Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate Appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantInterim Fund Credit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Interim Fund Credit is inconsistent with the procedures set forth or referred to in this the Interim Fund Development Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orInterim Fund Credit, or (e) after the Closing Date, an amount of the Grant Interim Fund Credit shall remain unwithdrawn from the Grant Interim Fund Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Interim Fund Credit shall be cancelled.”
Appears in 1 contract
Samples: documents1.worldbank.org
Cancellation by the Administrator. If If: (a) the right of the Recipient to make withdrawals from the Grant Account shall have been suspended with respect to any amount of the Grant for a continuous period of thirty (30) days, ; or (b) at any time, the Administrator determines, after consultation with the Recipient, that an amount of the Grant will not be required to finance the Project’s 's costs to be financed out of the proceeds of the Grant, ; or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the Grant, that corrupt or fraudulent practices were engaged in by representatives of the Recipient or of a beneficiary of the Grant during the procurement or the execution of such contract, without the Recipient having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the Grant, ; or (d) at any time, the Administrator determines that the procurement of any item is inconsistent with the procedures set forth or referred to in this Agreement and establishes the amount of the expenditures in respect of such item which would otherwise have been eligible for financing out of the proceeds of the Grant or, Grant; or (e) after the Closing Date, an amount of the Grant shall remain unwithdrawn from the Grant Account, the Administrator may, by notice to the Recipient, terminate the right of the Recipient to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant shall be cancelled.
Appears in 1 contract
Samples: Fund Grant Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Credit Account shall have been suspended with respect to any amount of the Grant Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the GrantCredit, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantCredit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantCredit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Credit is inconsistent with the procedures set forth or referred to in this the Trust Fund Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orCredit, or (e) after the Closing Date, an amount of the Grant Credit shall remain unwithdrawn from the Grant Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Credit shall be cancelledcanceled.”;
Appears in 1 contract
Samples: Credit Agreement
Cancellation by the Administrator. If (a) the right of the Recipient to make withdrawals from the Grant Account shall have been suspended with respect to any amount of the Grant for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the Recipient, that an amount of the Grant will not be required to finance the Project’s costs to be financed out of the proceeds of the Grant, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the Grant, that corrupt corrupt, fraudulent, collusive or fraudulent coercive practices were engaged in by representatives of the Recipient or of a beneficiary of the Grant during the procurement or the execution of such contract, without the Recipient having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the Grant, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Grant is inconsistent with the procedures set forth or referred to in this the Trust Fund Grant Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orGrant, or (e) after the Closing Date, an amount of the Grant shall remain unwithdrawn from the Grant Account, the Administrator may, by notice to the Recipient, terminate the right of the Recipient to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant shall be cancelled.
Appears in 1 contract
Samples: Trust Fund Grant Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Credit Account shall have been suspended with respect to any amount of the Grant Interim Fund Credit for a continuous period of thirty days, ; or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Interim Fund Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the Grant, Interim Fund Credit; or (c) at any time, time the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantInterim Fund Credit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Interim Fund Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the Grant, Interim Fund Credit; or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Interim Fund Credit is inconsistent with the procedures set forth or referred to in this the Interim Fund Development Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant or, Interim Fund Credit; or (e) after the Closing Date, an amount of the Grant Interim Fund Credit shall remain unwithdrawn from the Grant Interim Fund Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Interim Fund Credit shall be cancelled."
Appears in 1 contract
Samples: Credit Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Interim Fund Credit Account shall have been suspended with respect to any amount of the Grant Interim Fund Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Interim Fund Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the GrantInterim Fund Credit, or (c) at any time, time the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantInterim Fund Credit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Interim Fund Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantInterim Fund Credit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Interim Fund Credit is inconsistent with the procedures set forth or referred to in this the Interim Fund Development Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant Interim Fund Credit, or, (e) after the Closing Date, an amount of the Grant shall remain unwithdrawn from the Grant Account, the Administrator may, by notice to the Recipient, terminate the right of the Recipient to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant shall be cancelled.
Appears in 1 contract
Samples: Credit Agreement
Cancellation by the Administrator. If (a) the right of the Recipient to make withdrawals from the Grant Account shall have been suspended with respect to any amount of the Grant for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the Recipient, that an amount of the Grant will not be required to finance the Project’s 's costs to be financed out of the proceeds of the Grant, or (c) at any time, the Administrator determines, with respect to any contract to be financed out of the proceeds of the Grant, that corrupt or fraudulent practices were engaged in by representatives of the Recipient or of a beneficiary of the Grant during the procurement or the execution of such contract, without the Recipient having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the Grant, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Grant is inconsistent with the procedures set forth or referred to in this the Trust Fund Grant Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orGrant, or (e) after the Closing Date, an amount of the Grant shall remain unwithdrawn from the Grant Account, the Administrator may, by notice to the Recipient, terminate the right of the Recipient to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant shall be cancelled.
Appears in 1 contract
Samples: Fund Grant Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Interim Fund Credit Account shall have been suspended with respect to any amount of the Grant Interim Fund Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Interim Fund Credit will not be required to finance the Project’s 's costs to be financed out of the proceeds of the GrantInterim Fund Credit, or (c) at any time, time the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantInterim Fund Credit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Interim Fund Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantInterim Fund Credit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Interim Fund Credit is inconsistent with the procedures set forth or referred to in this the Interim Fund Development Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant Interim Fund Credit, or, (e) after the Closing Date, an amount of the Grant shall remain unwithdrawn from the Grant Account, the Administrator may, by notice to the Recipient, terminate the right of the Recipient to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant shall be cancelled.
Appears in 1 contract
Samples: Development Credit Agreement
Cancellation by the Administrator. If If: (a) the right of the Recipient Borrower to make withdrawals from the Grant Interim Fund Credit Account shall have been suspended with respect to any amount of the Grant Interim Fund Credit for a continuous period of thirty days, ; or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Interim Fund Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the Grant, Interim Fund Credit; or (c) at any time, time the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantInterim Fund Credit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Interim Fund Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the Grant, Interim Fund Credit; or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Interim Fund Credit is inconsistent with the procedures set forth or referred to in this the Interim Fund Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant or, Interim Fund Credit; or (e) after the Closing Date, an amount of the Grant Interim Fund Credit shall remain unwithdrawn from the Grant Interim Fund Credit Account, ; the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Interim Fund Credit shall be cancelledcanceled.”
Appears in 1 contract
Samples: Credit Agreement
Cancellation by the Administrator. If (a) the right of the Recipient Borrower to make withdrawals from the Grant Interim Fund Credit Account shall have been suspended with respect to any amount of the Grant Interim Fund Credit for a continuous period of thirty days, or (b) at any time, the Administrator determines, after consultation with the RecipientBorrower, that an amount of the Grant Interim Fund Credit will not be required to finance the Project’s costs to be financed out of the proceeds of the GrantInterim Fund Credit, or (c) at any time, time the Administrator determines, with respect to any contract to be financed out of the proceeds of the GrantInterim Fund Credit, that corrupt or fraudulent practices were engaged in by representatives of the Recipient Borrower or of a beneficiary of the Grant Interim Fund Credit during the procurement or the execution of such contract, without the Recipient Borrower having taken timely and appropriate action satisfactory to the Administrator to remedy the situation, and establishes the amount of expenditures in respect of such contract which would otherwise have been eligible for financing out of the proceeds of the GrantInterim Fund Credit, or (d) at any time, the Administrator determines that the procurement of any item contract to be financed out of the proceeds of the Interim Fund Credit is inconsistent with the procedures set forth or referred to in this the Interim Fund Development Credit Agreement and establishes the amount of the expenditures in respect of such item contract which would otherwise have been eligible for financing out of the proceeds of the Grant orInterim Fund Credit, or (e) after the Closing Date, an amount of the Grant Interim Fund Credit shall remain unwithdrawn from the Grant Interim Fund Credit Account, the Administrator may, by notice to the RecipientBorrower, terminate the right of the Recipient Borrower to make withdrawals with respect to such amount. Upon the giving of such notice, such amount of the Grant Interim Fund Credit shall be cancelledcanceled.".
Appears in 1 contract
Samples: Development Credit Agreement