CONDITIONS PRECEDENT FOR DISBURSEMENT. In addition to the documents and evidence set out in Clause 5.1 (Initial Conditions Precedent), disbursement of the Net Proceeds of the Bond Issue from the Escrow Account is subject to the Agent having received the following documentation and evidence:
CONDITIONS PRECEDENT FOR DISBURSEMENT. No Disbursement shall be made unless the following conditions have been fulfilled to the satisfaction of the Agent:
3.1 Upon receipt of the Conditions Precedent 3.1.1 and 3.1.2 below by the Agent within 180 (one hundred and eighty) days following the execution hereof, the Agent will declare the Effective Date:
3.1.1 copy of the signed Commercial Contract and of all its Annexes, in terms satisfactory to the Agent;
3.1.2 copy of the decision of the relevant authorities of the Borrower's country including the Congress ratification, required regulatory approvals, the publication in the Official Gazette and the registration by the “Secretaria de Estado de Finanzas”, authorising the Borrower to incur liability under the terms and conditions of the present Agreement
3.2 The Conditions Precedent listed from 3.2.1 to 3.2.5 below shall be received by the Agent within 30 (thirty) days from the Effective Date.
3.2.1 legal opinion issued by the “Consultor Jurídico del Poder Ejecutivo”, substantially in the form attached hereto as Schedule 2;
3.2.2 evidence of the authority of the Borrower to execute, deliver, perform and observe the terms and conditions of the Agreement and any related document, and authority for each person who, on behalf of the Borrower, will sign the Agreement and related documents, or will act as the Borrower’s representative ;
3.2.3 authenticated sample of the signature of any authorised representative of the Borrower (in particular the signatory hereof) ;
3.2.4 authenticated sample of the signature of any authorised representative(s) of the Borrower, the Buyer and the Supplier for the signing of the payment document as described in Schedule 1 hereinafter;
3.2.5 If any, copy of all environmental permits and licenses;
3.3 Moreover, no Disbursement shall be made unless the Agent receives the following documents and the following conditions be fulfilled to its satisfaction:
3.3.1 a certificate issued jointly by the Buyer and the Supplier certifying that the Commercial Contract is in force and stating the Date of Coming into Force;
3.3.2 Evidence of the payment to the Supplier’s account of the 15% advance payment provided in the Commercial Contract;
3.3.3 A credit-insurance policy from CESCE for the benefit of the Agent under terms satisfactory for the Agent and this credit-insurance policy has become and continues to be effective
3.3.4 delegation agreement if necessary;
3.3.5 no default and Event of Default exists and no material adverse effect has o...
CONDITIONS PRECEDENT FOR DISBURSEMENT. 8.1 The following shall be conditions precedent for any disbursal of the Loan or any tranche thereof:
(i) Prior to the first disbursement, the security over the Property should have been created.
(ii) No Event of Default or Cross Default or Material Adverse Effect shall have occurred.
(iii) At the time of request for a disbursement of the Loan or tranche thereof, the Borrower shall produce such evidence of the proposed utilization of the proceeds of the disbursement of the Loan or any tranche thereof as is satisfactory to the Lender as and when required by the Lender to evidence that the Loan will be utilised only for the Purpose.
(iv) No extraordinary or other circumstances shall have occurred which shall make it improbable for the Borrower to fulfill his / its obligations under this Agreement.
(v) The Borrower shall have executed and delivered all the Transaction Documents.
(vi) In case the Purpose for which the Loan is granted to the Borrower is to finance the construction of a house by the Borrower on a plot of land already owned by the Borrower, the Borrower shall:
(a) submit a copy of the sanctioned plan of the Property in the name of the Borrower by the competent authority to the Lender and confirm in writing that the said sanction plan has been approved;
(b) submit an affidavit-cum-undertaking stating that (a) the Borrower shall not violate the sanctioned plan, (b) construction shall be strictly as per the sanctioned plan, (c) the Borrower will be solely responsible to obtain the completion certificate within 3 (Three) months of completion of construction, failing which the Lender shall have the power and the authority to recall the entire Loan with interest, costs and other usual bank charges;
(vii) In case the Purpose for which the Loan is granted to the Borrower is to finance the purchase of a built up house / flat, the Borrower shall declare by way of an affidavit-cum-undertaking that the built up Property has been constructed as per the sanctioned plan and/or building bye-laws and as far as possible that a completion certificate has been obtained. An architect appointed by the Lender must also certify before disbursement of the Loan that the built up Property is strictly as per sanctioned plan and/or building bye-laws.
(viii) In case the Purpose for which the Loan is granted to the Borrower is to finance the purchase of a plot, the Borrower shall provide a declaration that he intends to construct a house on the said plot, with the help of bank...
CONDITIONS PRECEDENT FOR DISBURSEMENT. The conditions precedent for disbursement of any Grant, including, inter alia, (i) a Legal opinion in the English language satisfactory to CEB covering the issues of capacity, power and authority of the Republic of Croatia to enter the Agreement and the relevant Grant Agreement and confirming that both Agreements constitute valid, binding and enforceable undertakings, (ii) an operational Imple- xxxxxxx Structure as defined in Article 4 below has been established and is operational to the satisfaction of CEB in accordance with the criteria outlined in Appendix 3 hereto and (iii) a procurement plan with respect to the relevant sub-project satisfactory to CEB, shall be set out in the relevant Grant Agreement.
CONDITIONS PRECEDENT FOR DISBURSEMENT. The Lending Party’s obligation to disburse the loan depends on the occurrence of certain events within the Disbursement Date. The Lending Party may waive the aforesaid conditions precedent and permit the disbursement of the Loan even without the occurrence of the same.
CONDITIONS PRECEDENT FOR DISBURSEMENT. 5.1. All telephone conversations made between the Bank’s Personnel and the Customer shall be recorded by the Bank for verification purpose. All agreements made with the Customer via telephone shall be considered to be legal and binding on the Applicant and shall not be disputed.
5.2. The Customer shall be deemed to have read this General Agreement once the Bank receives a signed copy of the Application Form from the Customer together with the relevant documents. The Customer confirms that all documents and information are provided by the Customer with utmost good faith and are true and correct. Upon the Bank receiving the documents, the signature of the Customer in the Application Form shall be legally binding on the Customer and shall not be disputed.
5.3. The Facility can be utilised after full compliance and satisfaction of all conditions precedent contained in this General Agreement to the Bank’s satisfaction.
CONDITIONS PRECEDENT FOR DISBURSEMENT. 7.1 The following shall be conditions precedent for any disbursal of the Loan or any tranche thereof:
(i) Prior to the first disbursement, the security as detailed out in Clause 8 should have been created.
(ii) No Event of Default or Cross Default or Material Adverse Effect shall have occurred.
(iii) At the time of request for a disbursement of the Loan or tranche thereof, the Borrower shall produce such evidence of the proposed utilization of the proceeds of the disbursement of the Loan or any tranche thereof as is satisfactory to the Lender as and when required by the Lender to evidence that the Loan will be utilised only for the Purpose.
(iv) No extraordinary or other circumstances shall have occurred which shall make it improbable for the Borrower to fulfill his / its obligations under this Agreement.
(v) The Borrower shall have executed and delivered all the Transaction Documents.
CONDITIONS PRECEDENT FOR DISBURSEMENT. 3.1. The obligation of NDF to make a Disbursement of the Grant to the Grantee is subject to the fulfilment, on a continuous basis (as relevant), in a manner satisfactory to NDF of the following conditions (unless expressly waived by NDF at its absolute discretion):
(a) this Agreement, duly signed by the parties hereto, is in full force and effect;
(b) the Grantee has provided Documentation satisfactory to NDF evidencing that:
(i) the appropriate bodies of the Grantee have duly taken all necessary decisions for this Agreement to be executed and delivered on behalf of the Grantee;
(ii) the Grantee has received all permits and approvals necessary to receive the Grant on the terms and conditions set out in this Agreement;
(iii) the Grantee is committed to the Project being implemented as contemplated in Annex 1 (Project Description) and Annex 2 (Results Framework) and will make available and/or cause to make available for it such additional funds as may be required for the timely completion of the Project provided, for the avoidance of doubt, that where the Grantee finds that completion of the Project will meet with severe difficulties and/or require considerable extra and unforeseen financing, the Grantee may consult with NDF regarding a mutually acceptable termination of the Project;
(iv) the total amount of the Grant does not exceed [percentage to be filled in] % of the final realized costs (without profits) for the Project, including such reasonable Taxes as are levied under applicable laws (in case of such excess occurring during the implementation of the Project, the final Disbursement(s) of the Grant will be correspondingly reduced);
(v) with the Grant included, the Project is deemed by NDF to be fully financed;
(vi) agreements (also called sub-contract(s)), in form and substance satisfactory to NDF, have been concluded between the Grantee and [Local Partner(s)] [Other Nordic Partner(s)] [and Other Partner(s)] for the joint implementation of the Project;
(vii) the Grantee is the holder of the bank account set out in section 8 of the Agreement.
(c) the Grantee and the Local Partner(s), Other Nordic Partner(s) and/ or Other Partner(s) have obtained all requisite licenses, permits and approvals and/or no - objections by appropriate authorities, necessary for the carrying out of the Project and such licenses, permits and approvals are in full force and effect except that the aforesaid shall not apply to such permits and approvals which by their nature will ...
CONDITIONS PRECEDENT FOR DISBURSEMENT. 2.1 Pursuant to Article 3.2 (Conditions precedent for disburse- ment) of the Framework Agreement the conditions precedent for disbursement of the Grant are the following:
2.1.1 Prior to the disbursement of the first Grant Tranche: – The Partner Country shall deliver a Legal opinion in the English language satisfactory to CEB covering the issues of capacity, power and authority of the Republic of Croatia to enter into the Framework Agreement and the Agreement and confirming that both Agreements constitute valid, bin- ding and enforceable undertakings. – The Partner Country’s Implementing Structure as defined in Article 4 of the Framework Agreement and as further specified in Article 4 below has been established and is operational to the satisfaction of CEB in accordance with the criteria outlined in Appendix 3 to the Framework Agreement.
1 On an exceptional basis, this percentage may be subject to change as de- termined by the CEB at its sole discretion based on sub-project specific requirements. u obrascu utvrđenom u Prilogu C (Zahtjev za isplatu rate bespovratnih sredstava (Predložak)). Razvojna banka Vijeća Europe polaže bespovratna sredstva u najmanje dvije (2) rate bespovratnih sredstava na Poseban račun (kao što xx xxxx- đeno u članku 3.4 (Poseban račun) Okvirnog sporazuma): IBAN računa: XX00 0000 0000 0000 0000 0 Naziv vlasnika računa: Ministarstvo financija Predmet: Regionalni program stambenog zbrinjavanja Naziv banke: Hrvatska narodna banka Adresa banke: Xxx xxxxxxxxx xxxxxxxx 0 00000 Xxxxxx, Xxxxxxxx SWIFT BIC: XXXXXX0X
1.3 Bespovratna sredstva će se isplaćivati u eurima (EUR). Svi financijski računi i izvješća bit će izraženi u eurima.
1.4 Prva rata bespovratnih sredstava, koja predstavlja avansno plaćanje, bit će u iznosu do 830.006 EUR (xxxxx, xxxx xxxxx- ziti 30% odobrenog iznosa bespovratnih sredstava). Ona će biti isplaćena zemlji partneru nakon potpisivanja Sporazuma, podložno ispunjenju svih uvjeta koji prethode isplati utvrđe- no u članku 2. niže.
1.5 Iznos svake sljedeće rate bespovratnih sredstava određuje se u skladu s trenutnim stanjem radova i predviđenom razvoju radova, u skladu s navodima zemlje partner u Izvješćima o napretku, na temelju članka 5.
1.6 Svaka sljedeća rata bespovratnih sredstava može biti ispla- ćena tek nakon što zemlja partner Razvojnoj banci Vijeća Europe predstavi Izvješće o napretku, podložno usklađenosti s člankom 5., potvrđujući da je 70%1 prethodnih rata bespo- vratnih sredstava isplaćeno u skladu s odredba...
CONDITIONS PRECEDENT FOR DISBURSEMENT. 2.1 Pursuant to Article 3.2 (Conditions precedent for disburse- ment) of the Framework Agreement the conditions xxxxx- xxxx for disbursement of the CHP Support Grant are the following: – [other conditions precedent for the first and/or subsequ- ent CHP Support Grant Tranche[s] indicating whether they are applicable for the first and/or subsequent CHP Support Grant Tranche[s] to be inserted as applicable]
2.1.1 Prior to the disbursement of the first CHP Support Grant Tranche: – The Partner Country shall deliver a Legal opinion in the English language satisfactory to CEB covering the issues of capacity, power and authority of the Republic of Croatia to enter into the Framework Agreement and the Agreement and confirming that both Agreements constitute valid, bin- ding and enforceable undertakings.
2.1.2 Prior to the disbursement of any subsequent CHP Support Grant Tranches: [•]
2.1.3 Prior to the disbursement of last CHP Support Xxxxx Xxxx- che: [•]
