Conditions Precedent; Sequencing Clause Samples
Conditions Precedent; Sequencing. MCC Funding will be disbursed in tranches. The obligation of MCC to approve MCC Disbursements and Material Re-Disbursements for the Program and each Project is subject to satisfactory progress in achieving the Objectives and on the fulfillment or waiver of any conditions precedent specified in the Disbursement Agreement for the relevant Program activity or Project or Project Activity. The sequencing of Project activities or Project Activities and other aspects of how the Parties intend the Projects to be implemented will be set forth in the Implementation Plan, including Work Plans for the applicable Project, and MCC Disbursements and Re-Disbursements will be disbursed consistent with that sequencing. EXHIBIT A: MULTI-YEAR FINANCIAL PLAN SUMMARY1 Project Year 1 Year 2 Year 3 Year 4 Year 5 Total
1. Watershed Management and Agricultural Support2
(a) Water Management Activity (b) Agribusiness Development Services Activity (c) Credit Activity 1,561,405 1,278,311 0 2,035,513 1,503,576 145,000 1,829,973 665,603 145,000 1,037,145 84,383 105,000 336,214 66,508 55,000 6,800,2493,598,380450,000 (a) Port Activity4 7,067,100 7,201,541 17,936,346 14,406,594 7,128,628 53,740,208 (b) Roads and Bridges Activity 5,000,000 8,520,000 9,500,000 2,000,000 0 25,020,000 (a) Partnership to Mobilize Investment Activity 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 5,000,000 (b) Financial Sector Reform Activity6 571,500 865,000 573,500 190,000 0 2,200,000 Sub-Total 1,571,500 1,865,000 1,573,500 1,190,000 1,000,000 7,200,000 4. Monitoring and Evaluation 939,036 375,000 1,575,000 425,000 1,575,000 4,889,036 (a) Program administration 852,123 1,213,118 1,237,380 1,262,128 1,287,370 5,852,120 (b) Fiscal control and procurement management 600,783 375,241 0 0 0 976,024 (c) Enhanced transparency initiative 305,482 539,759 96,386 110,843 0 1,052,470 (d) Audits 100,000 100,000 100,000 100,000 100,000 500,000 1 Amounts shown are U.S. Dollars 2 Government will provide USD $ 520,000 in-kind contributions in the form of Ministry of Environment, Agriculture and Fisheries staff time, resources, and systems development and upgrade to work towards the expected results of this Project.
Conditions Precedent; Sequencing. MCC Funding will be disbursed in tranches. The obligation of MCC to approve MCC Disbursements and Material Re-Disbursements for the Program and each Project is subject to satisfactory progress in achieving the Objectives and on the fulfillment or waiver of any conditions precedent specified in the Disbursement Agreement for the relevant Program activity or Project or Project Activity. The sequencing of Project activities or Project Activities and other aspects of how the Parties intend the Projects to be implemented will be set forth in the Implementation Plan, including Work Plans for the applicable Project, and MCC Disbursements and Re-Disbursements will be disbursed consistent with that sequencing. Component Year 1 Year 2 Year 3 Year 4 Year 5 Total (USD $ million)
1. Regional Infrastructure Rehabilitation Project Sub-Total $ 37.3 $ 86.6 $ 48.1 $ 28.1 $ 11.6 $ 211.7 2. Enterprise Development Project Sub-Total $ 8.0 $ 9.7 $ 11.5 $ 9.6 $ 8.7 $ 47.5 Sub-Total $ 1.4 $ 1.4 $ 2.1 $ 0.9 $ 2.6 $ 8.4 4. Program Administration and Control Sub-Total $ 5.0 $ 7.8 $ 6.0 $ 4.8 $ 4.1 $ 27.6 TOTAL ESTIMATED MCC CONTRIBUTION $ 51.7 $ 105.6 $ 67.6 $ 43.4 $ 27.0 $ 295.3 ▇▇▇▇▇ ▇▇▇ DESCRIPTION OF THE M&E PLAN
Conditions Precedent; Sequencing. MCC Funding will be disbursed in tranches. The obligation of MCC to approve MCC Disbursements and Material Re-Disbursements for the Program and each Project is subject to satisfactory progress in achieving the Objectives and on the fulfillment or waiver of any conditions precedent specified in the Disbursement Agreement for the relevant Program activity or Project or Project Activity. The sequencing of Projects or Project Activities and other aspects of how the Parties intend the Projects to be implemented will be set forth in the Implementation Plan, including Work Plans for the applicable Project, and MCC Disbursements and Re- Disbursements will be disbursed consistent with that sequencing. ANNEX II-2
1. Rural Road Rehabilitation Project A. Infrastructure Improvements B. Technical Audit of Performance Based Maintenance Contracts C. Road Maintenance Strategic Plan D. Project Administration $0.49 $17.92 $22.62 $13.46 $10.00 $64.50 $0.30 $0.30 $0.30 $0.30 $0.40 $0.40 $0.40 $0.40 $0.40 $2.00 Sub-Total $0.89 $18.32 $23.32 $14.16 $10.40 $67.10 2. Irrigated Agriculture Project A. Infrastructure Activity Infrastructure* Project Administration $5.31 $0.93 $30.16 $0.93 $32.07 $0.93 $25.17 $0.93 $15.87 $0.93 $108.59 $4.67 B. Water-to-Market Activity Institutional Strengthening Improved Profitability of WUA Members Project Administration $0.53 $0.74 $0.72 $0.98 $4.55 $0.61 $1.45 $6.14 $0.64 $0.69 $6.99 $0.41 $0.51 $7.07 $0.39 $4.16 $25.50 $2.76
Conditions Precedent; Sequencing. MCC Funding will be disbursed in tranches. The obligation of MCC to approve MCC Disbursements and Material Re-Disbursements for the Program and each Project is subject to satisfactory progress in achieving the Objectives and on the fulfillment or waiver of any conditions precedent specified in the Disbursement Agreement for the relevant Program activity or Project Activity. The sequencing of Project Activities and other aspects of how the Parties intend the Projects to be implemented will be set forth in the Implementation Plan, including Work Plans for the applicable Project, and MCC Disbursements and Re-Disbursements will be disbursed consistent with that sequencing. Component Year 1 Year 2 Year 3 Year 4 Year 51 Total
Conditions Precedent; Sequencing. MCC Funding will be disbursed in tranches. The obligation of MCC to approve MCC Disbursements and Material Re-Disbursements for the Program and each Project is subject to satisfactory progress in achieving the Objectives and on the fulfillment or waiver of any conditions precedent specified in the Disbursement Agreement for the relevant Program activity, Project or Project Activity. The sequencing of Project Activities and other aspects of how the Parties intend the Projects to be implemented will be set forth in the Implementation Plan, including Work Plans for the applicable Project, and MCC Disbursements and Re-Disbursements will be disbursed consistent with that sequencing. CY1 CY2 CY3 CY4 CY5(5) PROPERTY REGULARIZATION PROJECT 6.4 10.2 6.4 3.5 0.0 26.5 RURAL BUSINESS DEVELOPMENT PROJECT 5.2 7.9 9.3 11.1 0.3 33.7 FISCAL / PROCUREMENT AGENT 1.5 2.7 3.4 3.1 0.7 11.5 TOTAL 20.4 41.3 52.5 47.5 13.3 175.0
(1) Costs are based on U.S. Army Corp of Engineers' assessment using a “rough order of magnitude” (ROM) cost estimate which includes all feasibility studies and designs, construction (including bridges/drainage), procurement, and contingencies. MCC Funding will be disbursed only upon satisfaction of (i) completion of a detailed Project management plan and coordination plan by MCA-Nicaragua in conjunction with the Infrastructure Specialist, and
Conditions Precedent; Sequencing. MCC Funding will be disbursed in tranches. The obligation of MCC to approve MCC Disbursements and Material Re-Disbursements for the Program is subject to satisfactory progress in achieving the Objectives and on the fulfillment or waiver of any conditions precedent specified in the Disbursement Agreement for the relevant activity under the Program. The sequencing of Project Activities or sub-activities and other aspects of how the Parties intend the Program to be implemented will be set forth in the Implementation Documents, including the Work Plan for the applicable Program (and each component thereof), and MCC Disbursements and Re-Disbursements will be made consistent with such sequencing. MULTI-YEAR FINANCIAL PLAN SUMMARY Totals Including Contingencies (USD) Project Year 1 Year 2 Year 3 Year 4 Year 5 Total 1. Bamako-Sénou Airport Improvement Project 15,381,180* 49,389,652 79,422,986 38,834,682 869,196 183,897,696 2. Alatona Irrigation Project 21,971,279 65,417,249 66,815,632 54,197,204 26,207,104 234,608,468 3. Monitoring and Evaluation 1,500,000 520,000 655,000 705,000 1,525,000 4,905,000 4. Program Management and Oversight 8,200,000 7,300,000 7,400,000 7,200,000 7,300,000 37,400,000 *Includes $2,718,638 for feasibility studies related to an originally programmed industrial park project that has been subsequently removed from the Compact due to the results of such feasibility studies. This Annex III to the Compact (the “M&E Annex”) generally describes the components of the M&E Plan for the Program. Except as defined in this M&E Annex, each capitalized term in this M&E Annex shall have the same meaning given such term elsewhere in this Compact.
Conditions Precedent; Sequencing. MCC Funding will be disbursed in tranches. The obligation of MCC to approve MCC Disbursements and Material Re-Disbursements for the Program, the Transport Infrastructure Project, and each Project Activity is subject to satisfactory progress in achieving the Project Objectives and on the fulfillment or waiver of any conditions precedent specified in the Disbursement Agreement for the relevant Program activity, Project or Project Activity. The sequencing of Project Activities and other aspects of how the Parties intend the Transport Infrastructure Project to be implemented will be set forth in the Implementation Plan, including Work Plans for the applicable Project Activities, and MCC Disbursements and Re-Disbursements will be disbursed consistent with that sequencing. Component (in US$ millions) Year 1 Year 2 Year 3 Year 4 Year 5 Total 1. Transport Infrastructure Project TOTAL MCC INVESTMENT 11.42 23.51 26.43 2.85 1.52 65.69 ANNEX III DESCRIPTION OF THE M&E PLAN
Conditions Precedent; Sequencing. MCC Funding will be disbursed in tranches. The obligation of MCC to approve MCC Disbursements and Material Re-Disbursements for the Program, the Transport Infrastructure Project, and each Project Activity is subject to satisfactory progress in achieving the Project Objectives and on the fulfillment or waiver of any conditions precedent specified in the Disbursement Agreement for the relevant Program activity, Project or Project Activity. The sequencing of Project Activities and other aspects of how the Parties intend the Transport Infrastructure Project to be implemented will be set forth in the Implementation Plan, including Work Plans for the applicable Project Activities, and MCC Disbursements and Re-Disbursements will be disbursed consistent with that sequencing. Component (in US$ millions) Year 1 Year 2 Year 3 Year 4 Year 5 Total
1. Transport Infrastructure Project Infrastructure Activity Institutional Strengthening Activity 4.00 5.47 22.45 0.48 25.80 0.09 2.21 0.09 0.03 0.09 54.47 6.22 2. Program Management 0.43 0.32 0.28 0.28 0.28 1.59 3. Monitoring and Evaluation 0.28 0.06 0.06 0.06 0.91 1.37 4. Fiscal and Procurement Agents 1.17 0.14 0.14 0.14 0.14 1.71 5. Audit 0.07 0.07 0.07 0.07 0.07 0.33 Note: Figures are rounded to second decimal place. Foreign exchange rate: USD = 108 Vatu. This Annex III to the Compact (the “M&E Annex”) generally describes the components of the M&E Plan for the Program. Except as defined in this M&E Annex, each capitalized term in this Annex III shall have the same meaning given such term elsewhere in this Compact.
Conditions Precedent; Sequencing. MCC Funding will be disbursed in tranches. The obligation of MCC to approve MCC Disbursements for the Program is subject to satisfactory progress in achieving the Objectives and to the fulfillment or waiver of any conditions precedent specified in the Disbursement Agreement for the relevant activity under the Program. The sequencing of Project Activities or sub-activities and other aspects of how the Parties intend the Program to be implemented will be set forth in the Implementation Documents, including the Work Plan for the Program (and each component thereof), and MCC Disbursements and Re-Disbursements will be made consistent with such sequencing.