Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this end, shall carry out: (i) Parts A.1 and A.2 of the Project, through BM; (ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and (iii) Parts B.4 (a) of the Project, through MIE. (b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement. (i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions: (A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments; (B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project; (C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and (D) the Borrower shall carry: (i) the commercial and foreign exchange risks, in the case of Investments; and (ii) the foreign exchange risk, in the case of Sub- loans. (d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof. (e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this Agreement. Section 3.03. The Borrower shall: (a) not later than April 30, 1991, furnish to the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a); (b) not later than December 31, 1991: (i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and (ii) submit to the Association the recommendations of said studies; (c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and (d) not later than March 30, 1993, carry out said action program. Section 3.04. The Borrower shall: (a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended; (b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and (c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan. Section 3.05. The Borrower shall: (a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following: (i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project; (ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and (b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association. Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 2 contracts
Samples: Development Credit Agreement, Development Credit Agreement
Execution of the Project. (a) The Borrower ONAS declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall carry out:
out Parts C, D.4 and D.5 (iiii), (iv) Parts A.1 and A.2 (v) of the ProjectProject with due diligence and efficiency and in conformity with appropriate administrative, through BM;
economic, engineering, environmental, financial, public utility and technical practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for Parts C, D.4 and D.5 (ii) Parts B.1; B.2; B.3iii), B.4 (biv) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (av) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Borrower, the Bank and the Association ONAS shall otherwise agree, the Borrower ONAS shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 2 to this Agreement.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for Parts C, D.4 and D.5 (iii), (iv) and (v) of the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 1 to this Agreement.
Section 3.032.03. The Borrower shall:
(a) not later than April 30, 1991, furnish to the Association acceptable terms of reference to ONAS shall carry out the studies referred obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in Part B.4 respect of the Project Agreement and Parts C, D.4 and D.5 (aiii);
, (biv) not later than December 31, 1991:
and (i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (av) of the Project; and.
Section 2.04. ONAS shall duly perform all its obligations under the Subsidiary Loan Agreement. Except as the Bank shall otherwise agree, ONAS shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Subsidiary Loan Agreement or any provision thereof.
Section 2.05. (iia) submit to ONAS shall, at the Association request of the recommendations of said studies;
(c) not later than June 30Bank, 1992 exchange views with the Association on said recommendations Bank with regard to progress of Parts C, D.4 and agree with the Association on an action program D.5 (iii), (iv) and a timetable for the implementation of said recommendations; and
(dv) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the Subsidiary Loan Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationLoan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 2 contracts
Samples: Project Agreement, Project Agreement
Execution of the Project. (a) The Borrower BPE declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(i) Parts A.1 and A.2 out Part E of the ProjectProject with due diligence and efficiency and in conformity with appropriate administrative, through BM;
(ii) Parts B.1; B.2; B.3financial, B.4 (b) engineering and B.5 of public utility practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association BPE shall otherwise agree, the Borrower BPE shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 1 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this the Development Credit Agreement.
Section 3.032.03. The Borrower shall:BPE shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement and Part E of the Project.
Section 2.04. BPE shall duly perform all its obligations under the Subsidiary Grant Agreement. Except as contemplated under the Program and as the Association shall otherwise agree, BPE shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Subsidiary Grant Agreement or any provision thereof.
Section 2.05. (a) not later than April 30BPE shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with regard to the Association on an action program and a timetable for the implementation progress of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion Part E of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the Subsidiary Grant Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationCredit.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 2 contracts
Samples: Project Agreement, Project Agreement
Execution of the Project. (a) The Borrower IOC declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the GEF Trust Fund Agreement, and, to this end, shall carry out:
out Parts B, C, D (i2), D (3), and D (4) Parts A.1 and A.2 of the ProjectProject with due diligence and efficiency and in conformity with appropriate administrative, through BM;
financial, engineering, environmental and social practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the carrying out of Parts B, C, D (ii) Parts B.1; B.2; B.32), B.4 D (b) 3), and B.5 of the Project, through MOF; and
D (iii) Parts B.4 (a4) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Bank and the Association IOC shall otherwise agree, the Borrower IOC shall carry out Parts B, C, D (2), D (3), and D (4) of the Project in accordance with the Implementation Program set forth in Schedule 6 4 to this the GEF Trust Fund Agreement.
(i) The Borrower shall, out of including the proceeds of the Creditsupervision, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to monitoring and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and reporting obligations set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreementtherein.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for Parts B, C, D (2), D (3), and D (4) of the Project and to be financed out of the proceeds of the Credit GEF Trust Fund Grant shall be governed by the provisions of Schedule 3 to this the GEF Trust Fund Agreement, as said provisions may be further elaborated in the Procurement Plan.
Section 3.03. The Borrower shall:
(a) not later than April 30, 1991, furnish to the Association acceptable terms of reference to IOC shall carry out the studies referred obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land-use rights, respectively) in Part B.4 respect of the Project Agreement and Parts B, C, D (a2);, D (3), and D (4) of the Project.
(b) not later than December 31For the purposes of Section 9.06 of the General Conditions and without limitation thereto, 1991IOC shall:
(i) carry out and completeprepare, under terms on the basis of reference satisfactory guidelines acceptable to the AssociationBank and furnish to the Bank not later than six (6) months after the Closing Date or such later date as may be agreed for this purpose between the Bank, SAMSA and IOC, a plan designed to ensure the studies referred to in Part B.4 (a) continued achievement of the ProjectProject objectives; and
(ii) submit afford the Bank a reasonable opportunity to exchange views with IOC on said plan.
Section 2.04. IOC shall duly perform all its obligations under the Association Tripartite Arrangement. Except as the recommendations Bank shall otherwise agree, IOC shall not take or concur in any action which would have the effect of said studies;amending, abrogating, assigning or waiving the Tripartite Arrangement, or any provision thereof.
Section 2.05. (ca) not later than June 30IOC shall, 1992 at the request of the Bank, exchange views with the Association on said recommendations and agree Bank with regard to the Association on an action program and a timetable for the implementation progress of said recommendations; and
Parts B, C, D (d) not later than March 302), 1993, carry out said action program.
Section 3.04. The Borrower shall:
D (a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 19913), and not later than June 30 of each year thereafter until the completion D (4) of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the Tripartite Arrangement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationGrant.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 2 contracts
Samples: Project Agreement, Project Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this AgreementProject, and, to this end, without any limitation or restriction upon any of its other obligations under the Loan Agreement, shall carry out:
(i) Parts A.1 and A.2 cause CDR to perform, in accordance with the provisions of the ProjectProject Agreement, through BM;
(ii) Parts B.1; B.2; B.3all the obligations of CDR therein set forth, B.4 (b) shall take or cause to be taken all action, including the provision of funds, facilities, services and B.5 of the Projectother resources, through MOF; and
(iii) Parts B.4 (a) of the Projectnecessary or appropriate to enable CDR to perform such obligations, through MIEand shall not take or permit to be taken any action which would prevent or interfere with such performance.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the The Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of make the proceeds of the Credit, make Loan available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, CDR on behalf of the Borrower, a grant basis under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall includeCDR, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loansBank.
(dc) The Borrower shall exercise and cause BM to exercise their respective its rights under the Subsidiary Administration Agreement, Agreement in such manner as to protect the interests of the Borrower and the Association Bank and to accomplish the purposes of the Credit Loan, and, except as the Association Bank shall otherwise agree, the Borrower shall not take assign, amend, abrogate or concur in any action which should have waive the effect of assigning, amending, abrogating or waiving the said Subsidiary Agreement or any provisions provision thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 1 to this the Project Agreement.
Section 3.03. The Bank and the Borrower shall:
(a) not later than April 30hereby agree that the obligations set forth in Sections 9.04, 19919.05, furnish to the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 319.06, 1991:
(i) carry out 9.07, 9.08 and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) 9.09 of the Project; and
General Conditions (iirelating to insurance, use of goods, works and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) submit shall be carried out by CDR pursuant to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution 2.03 of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this end, shall carry outshall:
(i) through MOH carry out Parts A.1 A and A.2 C of the Project, through BM;
Project (ii) Parts B.1; B.2; B.3, B.4 other than C.1 (b) thereof), with the assistance of: (i) Implementation Entities in respect of Parts A.1 (j), A.2 (j) and B.5 of the Project, through MOF; and
A.3 (iii) Parts B.4 (af) of the Project, through MIEand (ii) Eligible States and Eligible Municipalities in respect of Part A.4 of the Project, and
(ii) under the terms of the FUNASA Agreement, cause FUNASA to carry out Parts B and C.1 (b) of the Project, with the assistance of: (i) Indigenous Communities in respect of Part B.3 of the Project, and (ii) Eligible States, Eligible Municipalities and OSCs in respect of Part B.4 of the Project, all with due diligence and efficiency and in conformity with appropriate health, economic, technical, administrative, financial, social and environmental practices (including the Environmental Management Actions) and shall provide and cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project.
(b) Without limitation upon The Borrower shall:
(i) through MOH establish and thereafter maintain, during the provisions implementation of paragraph the Project, a coordination unit in SVS (athe SVS PCU); and
(ii) cause FUNASA to establish and thereafter maintain, during the implementation of this Section the Project, a coordination unit (the FUNASA PCU), both with functions and except as responsibilities satisfactory to the Borrower Bank, at all times headed by a Project coordinator and assisted by staff in adequate numbers, all with qualifications and experience acceptable to the Association shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this AgreementBank.
(ic) The Borrower shall, through MOH, enter into an agreement (Termo xx Xxxx o) with each Eligible State and Eligible Municipality carrying out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, Surveillance Subprojects under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by satisfactory to the Association and set forth Bank, substantially in Schedule 4 to this accordance with the terms of the Model Surveillance Subproject Implementation Agreement; (ii) the Subsidiary Administration Agreement shall include, setting forth, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition in respect of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carryeach Surveillance Subproject:
(i) the commercial Eligible State’s and foreign exchange risks, in the case of Investments; andEligible Municipality’s obligation:
(iiA) to carry out the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association Surveillance Subproject and to accomplish meet the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions performance benchmarks set forth in Schedule 4 the Surveillance Development Plan (PLANVIGI);
(B) to this Agreement.
Section 3.02. Except as the Association shall otherwise agree, procurement of procure the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this Agreement.
Section 3.03. The Borrower shallin accordance with:
(aI) not later than April 30, 1991, furnish to the Association acceptable terms requirements of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(bII) promptly thereafterthe contracting procedures applicable to the list of all goods, implement works and services certified by MOH, including all the recommendations ICB Goods and QCBS Consultants (which list shall form part of such reviews the Surveillance Subproject Implementation Agreement) and any amendments thereof approved as per the requirements of the Operational Manual;
(C) to keep records and accounts for the expenditures financed under the Surveillance Subproject;
(D) to utilize the proceeds of the Surveillance Subproject Transfers and provide information to MOH on the use thereof in accordance with an action plan the procedures set forth in the Operational Manual; and
(E) to enable the Bank to review the Eligible State’s and timetable Eligible Municipality’s accounts and other information as agreed between the Borrower Bank shall reasonably request in respect of the Surveillance Subproject and the Association.Epidemiology and Disease Control Program as they relate to the implementation of such Subprojects;
Section 3.06. The Borrower shall maintain ERTU (ii) the schedule of disbursements, by XXX’s health fund to the Eligible State’s health fund and IWG during the execution Eligible Municipality’s health fund, of the Project with such responsibilities, powers, facilities Surveillance Subproject Transfers;
(iii) (A) the institutional and staff whose experience technical requirements for the implementation of the Surveillance Subproject and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.Epidemiology and Disease Control Program;
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement
Execution of the Project. (a) The Borrower DLC declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Grant Agreement, and, to this end, shall carry out:
(i) Parts A.1 out Part B of the Project with due diligence and A.2 efficiency and in conformity with appropriate administrative, financial, educational, engineering, environmental and technical practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for Part B of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association DLC shall otherwise agree, the Borrower DLC shall carry out Part B of the Project in accordance with the Implementation Program set forth in the Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except Section 2.02. Except as the Association shall otherwise agree, the Borrower goods and consultants’ services required for Part B of the Project and to be financed out of the proceeds of the Grant shall be governed by the provisions of Schedule 3 to the Development Grant Agreement.
Section 2.03. DLC shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition) in respect of this Agreement.
Section 2.04. DLC shall duly perform all its obligations under the Subsidiary Grant Agreement. Except as the Association shall otherwise agree, DLC shall not take or concur in any action which should would have the effect of assigning, amending, abrogating or waiving the said Subsidiary Grant Agreement or any provisions provision thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.022.05. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this Agreement.
Section 3.03. The Borrower shall:
(a) not later than April 30DLC shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with regard to the Association on an action program and a timetable for the implementation progress of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion Part B of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the Subsidiary Grant Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 2 contracts
Samples: Project Agreement, Project Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this endend shall, shall carry outwith the guidance of the Steering Policy Board:
(i) carry out, through MINEDUC, Parts A.1 (a), A.1 (b), A.2 (a), A.2 (b), A.3 (c), B.1, B.2, C.1 (b) and A.2 (c), C.2 (a) (ii) and (iii), C.2 (b) (ii) and (iii), D.1, D.3 and D.4 of the Project, through BM;; and
(ii) cause SENCE to carry out Parts B.1; B.2; B.3A.3 (a), B.4 (b) and B.5 (d), C.1 (a) and (d), C.2 (a) (i) and (iv), C.2 (b) (i) and D.2 of the Project; administrative, through MOF; and
(iii) Parts B.4 (a) of financial and environmental practices, and shall provide, promptly as needed, the funds, facilities, services and other resources required for the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the The Borrower shall carry out establish, and thereafter operate and maintain, during the implementation of the Project:
(i) a policy guidance committee (the Steering Policy Board), with its executive council and advisory committee, all with functions and responsibilities satisfactory to the Bank; and
(ii) in MINEDUC, a Project coordination unit for all Parts of the Project, with functions and responsibilities satisfactory to the Bank, at all times headed by a Project coordinator and assisted by management, all in accordance adequate numbers and with qualifications and experience acceptable to the Implementation Program set forth in Schedule 6 to this AgreementBank.
(ic) The Borrower shall, out of through MINEDUC, make the proceeds of the Credit, make Loan allocated for the SENCE Component available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, SENCE under a Subsidiary Administration Agreement subsidiary agreement to be entered into between the Borrower Borrower, through MINEDUC, and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall includeSENCE, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; andBank, which shall, inter alia, include SENCE’s obligation to carry out the SENCE Component in accordance with the provisions of this Agreement.
(Dd) The Borrower shall, through MINEDUC, enter into an agreement with each Adult Education Institution under terms and conditions acceptable to the Borrower shall carryBank, and substantially in accordance with the terms of the Model Adult Education Agreement, to set forth, in respect of Adult Education Services, inter alia:
(i) the commercial respective responsibilities of MINEDUC and foreign exchange risksthe Education SEREMI, and the Adult Education Institution in the case delivery of Investmentsthe Adult Education Services; and
(ii) the foreign exchange risk, in terms for the case payment of Sub- loansfees related to the services to be provided by the Adult Education Institution which shall consist of: (A) a 25% advance at the time the Adult Education Agreement is signed; and (B) the remainder as and when the Education Assessment Institution delivers to the Education SEREMI the list of enrolled adults covered by the Adult Education Services under Part A.1 (a) of the Project who have satisfactorily approved the training.
(de) The Borrower shall, through the MINEDUC, enter into an agreement with each Education Assessment Institution under terms substantially in accordance with the terms of the Model Education Assessment Agreement, to set forth, in respect of the Education Assessment Services, inter alia, the respective responsibilities of MINEDUC and the Education SEREMI, and the Education Assessment Institution in the delivery of the Education Assessment Services under Part A.2 (a) of the Project.
(f) The Borrower shall cause SENCE to enter into an agreement with each Adult Education and Training Institution under terms substantially in accordance with the terms of the Model Education and Training Integration Agreement, to set forth, in respect of each set of Education and Training Integration Services, inter alia, the respective responsibilities of SENCE and the Adult Education and Training Institution in the delivery of Education and Training Integration Services under Part A.3 (a) (i) of the Project.
(g) The Borrower shall cause SENCE to enter into an agreement with each Small and Medium Size Enterprise or a group thereof, under terms substantially in accordance with the terms of the Model Small and Medium Size Enterprise Training Agreement, to set forth, inter alia, the respective responsibilities of SENCE and the Small and Medium Size Enterprises in the implementation of Part A.3 (b) (i) of the Project.
(h) The Borrower shall cause SENCE to enter into an agreement with each Training Institution under terms substantially in accordance with the terms of the Model Training Module Development Agreement, to set forth, in respect of each set of Training Module Development Services, inter alia, the respective responsibilities of SENCE and the Training Institution in the delivery of the Training Module Development Services under Part A.3 (b) (ii) of the Project.
(i) The Borrower shall, through MINEDUC, enter into an agreement with each Adult Distance Education Institution under terms substantially in accordance with the terms of the Model Adult Distance Education Module Development Agreement, to set forth, in respect of each set of Adult Distance Education Module Development Services, inter alia, the respective responsibilities of MINEDUC and the Adult Distance Education Institution in the delivery of the Adult Distance Education Module Development Services under Part A.3 (c) (i) of the Project.
(j) The Borrower shall cause SENCE to enter into an agreement with each Adult Distance Training Institution under terms substantially in accordance with the terms of the Model Adult Distance Training Module Development Agreement, to set forth, in respect of each set of Adult Distance Training Module Development Services, inter alia, the respective responsibilities of SENCE and the Adult Distance Training Institution in the delivery of the Adult Distance Training Module Development Services under Part A.3 (d) (i) of the Project.
(k) The Borrower shall, through MINEDUC, enter into an agreement with each Regional Network Association under terms substantially in accordance with the terms of the Model Technical and Professional Education Agreement, to set forth, in respect of each Technical and Professional Education Subproject, inter alia, the respective responsibilities of MINEDUC and the Regional Network Association in the implementation of the Technical and Professional Education Subproject under Part B.1 (a) of the Project.
(l) The Borrower shall, through MINEDUC, enter into an agreement with each Teacher Technical Pre- and In-Service Training Institution under terms substantially in accordance with the terms of the Model Teacher Technical Pre- and In-Service Training Agreement, to set forth, in respect of each Teacher Technical Pre- and In-Service Training Subproject, inter alia, the respective responsibilities of MINEDUC and the Teacher Technical Pre- and In-Service Training Institution in the implementation of the Teacher Technical Pre- and In-Service Training Subproject under Part B.2 (a) of the Project.
(m) The Borrower shall cause SENCE to enter into an agreement with Fundación Chile under terms and conditions acceptable to the Bank, to set forth, inter alia, the respective responsibilities of SENCE and Fundación Chile in the implementation of Part C.1 (a) of the Project.
(i) The Borrower shall, through MINEDUC, exercise its rights and cause BM to exercise their respective rights carry out its obligations under the SENCE Subsidiary Administration Agreement and each Adult Education Agreement, Education Assessment Agreement, Adult Distance Education Module Development Agreement, Technical and Professional Education Agreement and Teacher Technical Pre- and In-Service Training Agreement in such manner as to protect the interests of the Borrower and the Association Bank and to accomplish the purposes of the Credit Loan, and, except as the Association Bank shall otherwise agree, the Borrower shall not take assign, amend, abrogate, suspend, waive, terminate or concur in any action which should have fail to enforce the effect of assigning, amending, abrogating or waiving the said SENCE Subsidiary Agreement or any provisions Adult Education Agreement, Education Assessment Agreement, Adult Distance Education Module Development Agreement, Technical and Professional Education Agreement or Teacher Technical Pre- and In-Service Training Agreement, or any provision thereof.; and
(eii) Unless The Borrower shall cause SENCE: (A) to exercise its rights and carry out its obligations under each Education and Training Integration Agreement, Adult Distance Training Module Development Agreement, Small and Medium Size Enterprise Training Agreement, Training Module Development Agreement and the Association Fundación Chile Agreement in such manner as to protect the interests of the Borrower and the Bank and to accomplish the purposes of the Loan; and (B) except as the Bank shall otherwise agree, not to assign, abrogate, suspend, waive, terminate or fail to enforce any Education and Training Integration Agreement, Small and Medium Size Enterprise Training Agreement, Adult Distance Training Module Development Agreement, Training Module Development Agreement or the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this AgreementFundación Chile Agreement or any provision thereof.
Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this Agreement.
Section 3.03. The Borrower shallshall carry out the Project in accordance with an operational manual, satisfactory to the Bank, said manual to include, inter alia:
(a) not later than April 30the procedures for the carrying out, 1991, furnish to monitoring and evaluation of the Association acceptable terms of reference to carry out Project (including the studies referred to in Part B.4 (aprocurement and financial requirements thereof);
(b) not later than December 31the functions and organization of the PCU and the Steering Policy Board;
(c) a model agreement for contracting the services of Adult Education Institutions to obligate them to deliver the Adult Education Services;
(d) a model agreement for contracting the services of Education Assessment Institutions to obligate them to deliver Education Assessment Services;
(e) a model agreement for contracting with Adult Education Institutions to set forth their responsibilities in the delivery of Education and Training Integration Services;
(f) a model agreement for contracting with the Small and Medium Size Enterprises to set forth their responsibilities in the implementation of Part A.3 (b) (i) of the Project;
(g) a model agreement for contracting the services of Training Institutions to obligate them to deliver the Training Module Development Services;
(h) a model agreement for contracting with Adult Distance Education Institutions to set forth their responsibilities in the delivery of the Adult Distance Education Module Development Services;
(i) a model agreement for contracting with Adult Distance Training Institutions to set forth their responsibilities in the delivery of the Adult Distance Training Module Development Services;
(j) a model agreement for contracting with Regional Network Associations to set forth their responsibilities in the implementation of Technical and Professional Education Subprojects;
(k) a model agreement for contracting the services of Teacher Technical Pre- and In-service Training Institutions to set forth their responsibilities in the implementation of the Teacher Technical Pre- and In-service Training Subprojects; and
(l) the procedures for the selection, 1991approval, management, implementation and monitoring of Subprojects and Services, including those for the selection and award of Adult Education Institutions and Education Assessment Institutions. In case of any conflict between the terms of the Operational Manual and those of this Agreement, the terms of this Agreement shall prevail.
(a) The Borrower shall, through MINEDUC in respect of the MINEDUC Component, and XXXXX in respect of the SENCE Component:
(i) carry maintain policies and procedures adequate to enable it to monitor and evaluate on an ongoing basis, in accordance with the Performance Indicators, the carrying out of their respective parts of the Project and completethe achievement of the objectives thereof;
(ii) prepare, under terms of reference satisfactory to the AssociationBank, and furnish to the Bank, not later than twelve months after the Effective Date and yearly thereafter during the period of Project implementation, a report:
(A) setting forth the Project implementation plan for the following twelve months, and the budget allocation thereof; and
(B) integrating the results of the evaluation activities performed pursuant to paragraph (a) (i) of this Section, on the physical and financial progress achieved in the carrying out of the Project during the period preceding the date of such report and setting out the measures recommended to ensure the efficient carrying out of the Project and the achievement of the objectives thereof during the period following such date;
(iii) review with the Bank:
(A) shortly after such reports’ preparation, the studies reports referred to in Part B.4 paragraph (a) (ii) of this Section; and,
(B) not later than twenty four, forty-eight and seventy two months after the Effective Date, review with the Bank in addition to such reports, the effectiveness of the investments in each Part of the Project in achieving the objectives of the Project; and
(iiiv) submit after each such review, take all measures required to ensure the Association efficient completion of the Project and the achievement of the objectives thereof, based on the conclusions and recommendations of the said studies;reports and the Bank's views on the matter.
(cb) The Borrower shall, not later than June 30forty-eight and seventy two months after the Effective Date, 1992 exchange views discuss with the Association on said recommendations and agree with Bank the Association on an action program and appropriateness of consolidating the Steering Policy Board as a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action programpermanent institution.
Section 3.043.05. The For the purposes of Section 9.07 of the General Conditions and without limitation thereto, the Borrower shall:
(a) prepare, on the basis of guidelines acceptable to the Bank, and furnish to the Bank not later than December 31six (6) months after the Closing Date or such later date as may be agreed for this purpose between the Borrower and the Bank, 1990, prepare and complete an action a plan (for the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion future operation of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement afford the recommendations of such reviews in accordance Bank a reasonable opportunity to exchange views with an action plan and timetable as agreed between the Borrower and the Associationon said plan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Execution of the Project. (a) The Borrower UDKR declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall carry out:
(i) , jointly with the relevant agencies of the Borrower, the Mine Closure Plans and other activities referred to under Parts A.1 A, B, D and A.2 E of the Project with due diligence and efficiency and in conformity with appropriate administrative, financial, engineering, labor, social and environmental practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the activities to be carried out by UDKR under such Parts A, B, D and E of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section Section, and except as the Borrower Bank and the Association UDKR shall otherwise agree, the Borrower shall UDKR shall:
(i) carry out the relevant activities under Parts A, B, D and E of the Project in accordance with the relevant provisions of the Implementation Program set forth in Schedule 6 5 to this the Loan Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made carry out its operations in accordance with specific operational guidelines (Operational Guidelines) to be adopted by UDKR in respect of particular project activities, which shall be acceptable to the terms and conditions set forth in Schedule 4 to this AgreementBank, which shall include, without limitation:
(A) regulations on the manner of effecting social mitigation expenditures for the consequences of mine closure; and
(B) regulations on the manner of distribution of coal.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works works, and consultants’ services required for Parts A, B, D and E of the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this the Loan Agreement.
Section 3.032.03. The Borrower shall:
(a) not later than April 30, 1991, furnish to the Association acceptable terms of reference to UDKR shall carry out the studies referred obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in Part B.4 (a);
(b) not later than December 31respect of the UDKR Project Agreement and Parts A, 1991:
(i) carry out B, D and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) E of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) Section 3.01. The Borrower Recipient declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, Agreement and, to this end, shall carry outshall:
(ia) Parts A.1 carry out Part A.1, A.4 and Part C of the Project through MIEM (acting through DNE);
(b) carry out Part A.2 and A.3 of the Project through MIEM (acting through DNE) and making use of UFEE; and
(c) cause UTE (pursuant to the Subsidiary Agreement) to carry out Part B of the Project, through BM;
(ii) Parts B.1; B.2; B.3with due diligence and efficiency and in conformity with the Operational Manual and with appropriate managerial, B.4 (b) technical, administrative, financial, legal, ecological, environmental, productive, social and B.5 of conservation practices, and shall provide, promptly as needed, the funds, facilities, services and other resources required for the Project, through MOF; and.
(iii) Parts B.4 Section 3.02. (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) Section 3.01 of this Section and except as the Borrower and the Association shall otherwise agreeAgreement, the Borrower Recipient shall carry out enter into a subsidiary agreement for Project implementation with UTE on terms and conditions satisfactory to the Bank, said agreement to include, inter alia: (i) the obligation of UTE to, with respect to Part B of the Project: (A) provide the necessary counterpart funds; (B) assist the Recipient in the coordination of Project implementation and in accordance complying with its obligations to the Implementation Program set forth in Schedule 6 to Bank under this Agreement; and (C) follow the provisions of the Operational Manual; and (ii) the obligation of UTE to assist the Recipient (through MIEM), as necessary, in the carrying out of Part C of the Project.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower Recipient shall exercise its rights and cause BM to exercise their respective rights carry out its obligations under the Subsidiary Administration Agreement, Agreement in such a manner as to protect the interests of the Borrower Recipient and the Association Bank and to accomplish the purposes of the Credit GEF Trust Fund Grant; and,
(ii) except as the Association Bank shall otherwise agree, the Borrower Recipient shall not take assign, amend, abrogate, terminate, waive or concur in any action which should have fail to enforce the effect of assigning, amending, abrogating or waiving the said Subsidiary Agreement or any provisions provision thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.023.03. Except as the Association Bank shall otherwise agree, procurement of the goods, works goods and consultants’ services (including those financed by Sub-loans and/or Sub-grants) required for the Project and to be financed out of the proceeds of the Credit GEF Trust Fund Grant shall be governed by the provisions of Schedule 3 to this Agreement.
(a) The Recipient shall issue an operational manual, satisfactory to the Bank, containing, inter alia, specific provisions on detailed arrangements for the carrying out of the Project, including: (i) a model for the Trusteeship Agreement; (ii) requirements for the selection, approval and implementation of Sub-projects; (iii) selection criteria for the Beneficiaries; (iv) financial management and procurement procedures for the Project; (v) environmental safeguards applicable to Parts A.3 and B.2 of the Project; and (vi) model formats for the progress reports referred to in Section 3.033.08 (b) of this Agreement.
(b) If any provision of the Operational Manual is inconsistent with a provision of this Agreement, the provision of this Agreement shall prevail.
(a) The Recipient shall operate and maintain, at all times during Project implementation, a Project Management Unit (PMU) with a structure, functions and responsibilities acceptable to the Bank, including, inter alia, the responsibility of the PMU to coordinate, monitor and supervise the carrying out of the Project.
(b) The Recipient shall ensure that the PMU is, at all times during Project implementation, headed by a Project coordinator and assisted by adequate professional and administrative staff (including a procurement officer and a financial and administrative officer), in numbers and with experience and qualifications acceptable to the Bank, operating under terms of reference satisfactory to the Bank.
Section 3.06. The Borrower shallRecipient shall maintain until the completion of the Project a steering committee with responsibilities and functions satisfactory to the Bank including, inter alia, overall project oversight and coordination and policy setting, such committee to be comprised of representatives of DINAMA, MIEM, OPP, URSEA and UTE.
Section 3.07. For the purposes of Section 9.08 of the General Conditions and without limitation thereto, the Recipient shall and shall cause UTE to:
(a) prepare, on the basis of guidelines acceptable to the Bank, and furnish to the Bank not later than April 30six months after the Closing Date or such later date as may be agreed for this purpose between the Recipient and the Bank, 1991, furnish a plan designed to ensure the Association acceptable terms sustainability of reference to carry out the studies referred to in Part B.4 (a)Project;
(b) not later than December 31afford the Bank a reasonable opportunity to exchange views with the Recipient on said plan; and
(c) carry out an in-depth Project review (the mid-term review), 1991jointly with the Bank, on the progress achieved in the implementation of the Project.
Section 3.08. The Recipient shall and shall cause UTE to:
(ia) carry maintain policies and procedures adequate to enable the Recipient and UTE to monitor and evaluate on an ongoing basis, in accordance with indicators acceptable to the Bank, the carrying out of the Project and completethe achievement of the objectives thereof;
(b) prepare, under terms of reference satisfactory to the AssociationBank, and furnish to the studies referred Bank, for each year during the implementation of the Project, semestral reports integrating the results of the monitoring and evaluation activities performed pursuant to in Part B.4 paragraph (a) of this Section, on the progress achieved in the execution of the Project during the period preceding the date of each said report and setting out the measures recommended to ensure the efficient carrying out of the Project and the achievement of the objectives thereof during the period following such date; and
(c) review with the Bank, by November 30 and May 31 of each year during the implementation of the Project or such later date as the Bank shall request, each report referred to in paragraph (b) of this Section, and, thereafter, take all measures required to ensure the efficient completion of the Project and the achievement of the objectives thereof, based on the conclusions and recommendations of said report and the Bank’s views on the matter.
Section 3.09. The Recipient shall: (a) with respect to part A.2 of the Project, ensure that the amount paid to the providers of the goods or consultant services procured to carry out each Sub-project consist of at least: 33 percent paid by the Beneficiary and at most 67 percent financed by the Sub-grant; (b) with respect to part A.3 of the Project, ensure that the amount paid to the providers of the goods or consultant services procured to carry out each Sub-project consist of at least: 15 percent paid by the Beneficiary and at most 85 percent financed by the Sub-loan; and (c) ensure that such goods or consultant services are used by the Beneficiaries to carry out their respective Sub-project.
Section 3.10. For the purposes of establishing and operating UFEE the Recipient shall enter into a trusteeship agreement with a commercial bank acceptable to the Bank under terms and conditions satisfactory to the Bank (the Trusteeship Agreement), which agreement shall include, inter alia, said commercial bank’s obligation to maintain, on behalf of the Recipient, records and accounts adequate to reflect the operations, resources and expenditures of Part A.2 and Part A.3 of the Project, in order to enable the Recipient to comply with its obligations under Sections 4.01 and 4.02 of this Agreement.
(i) the Recipient shall exercise its rights and carry out its obligations under the Trusteeship Agreement in such a manner as to protect the interests of the Recipient and the Bank and to accomplish the purposes of the GEF Trust Fund Grant; and
(ii) submit to except as the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the AssociationBank may otherwise agree, the following:
(i) progress achieved in Project implementation and meeting Project objectivesRecipient shall not assign, including interest rates applicable amend, abrogate, suspend, waive, terminate or fail to Sub-loans under Part A.1 of enforce the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationTrusteeship Agreement or any provision thereof.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Trust Fund Grant Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this end, shall carry out:
(i) shall carry out or cause to be carried out Parts A.1 A(i), B, C, and A.2 of the Project, through BM;
D (ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (aexcept D(1)(b)) of the Project) with due diligence and efficiency and in conformity with appropriate administrative, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section financial, education, health, population and except rural water supply and sanitation practices and shall provide, promptly as the Borrower and the Association shall otherwise agreeneeded, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shallfunds, out of the proceeds of the Creditfacilities, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) services and other resources required for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of such Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) without limitation or restriction upon any of its other obligations under the foreign exchange riskDevelopment Credit Agreement, shall cause the Provinces, AJK and FATA to perform all their obligations set forth in the case Project Agreement, shall take or cause to be taken all action, including the provision of Sub- loansfunds, facilities, services and other resources, necessary or appropriate to enable the Provinces, AJK and FATA to perform such obligations, and shall not take or permit to be taken any action which would prevent or interfere with such performance.
(db) The Borrower shall exercise make available to the Provinces, AJK and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests FATA a portion of the Borrower and proceeds of the Association and to accomplish the Credit for purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A respective Parts of the Project will to be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreementcarried out by them.
Section 3.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this Agreement.
Section 3.03. The Borrower shall:and the Association hereby agree that the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of Parts A(ii), A(iii) and A(iv) and D(1)(b) of the Project shall be respectively carried out by the Provinces, AJK and FATA pursuant to Section 2.03 of the Project Agreement.
(a) not later than April 30The Borrower shall take all such measures as may be necessary or required, 1991, furnish to the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, for the studies referred to purpose of increasing the overall level of expenditures for the Social Action Program in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for each Fiscal Year during the implementation of said recommendations; and
(d) the Project to such target levels as agreed within the framework of the Social Action Program, acceptable to the Association, except under circumstances acceptable to the Association, provided, however, that even under these circumstances such levels shall not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 fall below 2.05% of the Borrower’s Gross Domestic Product in FY94, dated February 13, 1975, as amended;2.15% in FY95 and 2.30% in FY96.
(b) promptly thereafterIn achieving such expenditure increases, take all legal and administrative measures necessary the Borrower shall ensure that the financing of the Social Action Program in each Fiscal Year during the implementation of the Project from its own resources increases to implement meet the Plan; and
(c) not later than June 30levels of its target contribution formulated in the context of the financing plan of the Social Action Program, 1993, review jointly with acceptable to the Association, progress achieved except under circumstances acceptable to the Association, provided, however, that even under these circumstances, such levels shall not fall below 1.6% of the Borrowers’ Gross Domestic Product in implementing the PlanFY94, 1.7% in FY95 and 1.8% in FY96.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 shall ensure that no bans on recruitment of each year thereafter until the completion field staff are imposed in respect of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 Sectors of the Project;
(ii) Subproject eligibility criteria Borrower, FANA and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationICT.
Section 3.06. The Borrower shall maintain ERTU and IWG shall: (a) by March 31 of each Fiscal Year during the execution implementation of the Project with or such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory later date as may be acceptable to the Association, provide or cause to be provided to the Association, for its assessment and review, each proposed Sub-program to be carried out by the Borrower, whether on its own behalf or on behalf of FANA or ICT, as are specified the case may be, in Schedule 6 to this Agreement.the next following Fiscal Year;
Appears in 1 contract
Samples: Development Credit Agreement
Execution of the Project. (a) The Borrower KT declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(i) out Parts A.1 A and A.2 B of the Project with due diligence and efficiency and in conformity with appropriate administrative, financial and engineering practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for Parts A and B of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association KT shall otherwise agree, the Borrower KT shall carry out Parts A and B of the Project in accordance with the Implementation Program set forth in the Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works goods and consultants’ services required for Parts A and B of the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this the Development Credit Agreement.
Section 3.032.03. The Borrower shall:KT shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement and Parts A and B of the Project.
Section 2.04. KT shall duly perform all its obligations under the Subsidiary Loan Agreement. Except as the Association shall otherwise agree, KT shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Subsidiary Loan Agreement or any provision thereof.
Section 2.05. (a) not later than April 30KT shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations with regard to the progress of Parts A and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion B of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the Subsidiary Loan Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationCredit.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, Agreement and, to this end, shall carry out:
(i) Parts A.1 out Xxxxx X.0, X.0, X.0, X.0, X.0 and A.2 C of the ProjectProject through MEPU-EC, Part B.4 of the Project through BM;
(ii) Parts B.1; B.2; B.3METFP, B.4 (b) and Part B.5 of the ProjectProject through MESRS, through MOF; and
(iii) Parts B.4 (a) of all with due diligence and efficiency and in conformity with appropriate administrative, financial, education and environmental practices, and shall provide, promptly as needed, the funds, facilities, services and other resources required for the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 4 to this Agreement.
Section 3.02. Without limitation upon the provisions of paragraph (ia) The Borrower shallof Section
3.01 of this Agreement, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between except as the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.shall:
(ea) Unless open three separate accounts (the Project Accounts) in Francs Guinéens in a commercial bank acceptable to the Association shall otherwise agree(the MEPU-EC Project Account, the Borrower shall METFP Project Account, the MESRS Project Account), and thereafter maintain said Project Accounts under terms and conditions acceptable to the Association until the completion of the Project;
(b) deposit into the MEPU-EC, METFP, and MESRS Project Accounts: (i) an initial amount equivalent to $650,000, $100,000 and $250,000, respectively, for the First Project Year; and (ii) thereafter replenish on January 1 each year the MEPU-EC, METFP, and MESRS Project Accounts, by depositing therein respectively an amount sufficient to maintain in the respective Project Account the equivalent to $650,000, $100,000 and $250,000 to finance the Borrower’s contribution for expenditures under the Project other than those financed from the proceeds of the Credit; and
(c) ensure that Sub-loans and Investments made by BM under Part A of funds deposited into the Project will be made Accounts in accordance with paragraph (b) of this Section shall be used exclusively to finance expenditures under the terms and conditions set forth in Schedule 4 to this AgreementProject other than those financed from the proceeds of the Credit.
Section 3.023.03. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this Agreement.
Section 3.033.04. The For the purposes of Section 9.06 of the General Conditions and without limitation thereto, the Borrower shall:
(a) not later than April 30prepare, 1991on the basis of guidelines acceptable to the Association, and furnish to the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
six (i6) carry out months after the Closing Date or such later date as may be agreed for this purpose between the Borrower and complete, under terms of reference satisfactory to the Association, a plan for the studies referred to in Part B.4 (a) future operation of the Project; and
(iib) submit to afford the Association the recommendations of said studies;
(c) not later than June 30, 1992 a reasonable opportunity to exchange views with the Association Borrower on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action programplan.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Development Credit Agreement
Execution of the Project. (a) The Borrower Section 2.01. SONADER declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, the Development Credit Agreement and, to this end, shall carry out:
(i) out Parts A.1 and A.2 of the ProjectB, through BM;
(ii) Parts B.1; B.2; B.3, B.4 C.2 (b) and B.5 D.2 (b) of the Project with due diligence and efficiency and in conformity with appropriate administrative, financial, agricultural extension, research and environmental practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for said Parts B, C.2 (b) and D.2 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the implementation of Parts B, C.2 (b) and D.2 of the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this the Development Credit Agreement.
Section 3.032.03. The Borrower SONADER shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement and more specifically, in respect of Parts B, C.2 (b) and D.2 of the Project.
Section 2.04. SONADER shall duly perform all its obligations under the Subsidiary Grant Agreement. Except as the Association shall otherwise agree, SONADER shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Subsidiary Grant Agreement or any provision thereof.
Section 2.05. SONADER shall:
: (a) not later than April 30participate fully in the annual reviews and the midterm review referred to in paragraph 2, 1991Schedule 4 to the Development Credit Agreement and paragraph (f) of Section 3.02 of the Development Credit Agreement, respectively, and, to this end, shall: (i) furnish to the Borrower and the Association acceptable terms such reports as may be required for that purpose, and in such detail as the Borrower or the Association shall reasonably request, on the progress and status of reference to carry out the studies referred to in Part B.4 (a);
Parts B, C.2 (b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) D.2 of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this end, shall carry outout Parts A, B (1) , B (4), B (5), and C of the Project through the agencies or entities listed in subparagraph (b) (i) of this Section, with due diligence and efficiency and in conformity with appropriate administrative, financial and accounting practices, and shall provide or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project.
(i) Without any limitation or restriction upon the provisions of paragraph (a) of this Section, and except as the Borrower and the Bank shall otherwise agree, the Borrower shall ensure that the following agencies or entities shall participate in the carrying out of the stated corresponding part or parts of the Project: MOE: Parts A, B (4) and C of the Project; Central Bank: Part B (1) of the Project; and CRD: Part B (5) of the Project.
(ii) The Borrower shall enter into agreements, or make arrangements, as the case may be, satisfactory to the Bank, with each of such agencies or entities providing for their respective obligations in the carrying out of such parts of the Project, and shall make available to such agencies and entities the part of the proceeds of the Loan allocated for the carrying out of such parts of the Project.
(c) The Borrower shall relend to SIBF the proceeds of the Loan required for carrying out Parts B (2) and B (3) of the Project under a subsidiary loan agreement (the SIBF Subsidiary Loan Agreement) to be entered into between the Borrower and SIBF, as follows: the Borrower shall relend part of said proceeds of the Loan to SIBF by means of a loan in an aggregate amount not to exceed the equivalent of one million five hundred thousand dollars ($1,500,000), for purposes of carrying out Parts B (2) and B (3) of the Project under terms and conditions which shall have been approved by the Bank, including, inter alia:
(i) Parts A.1 said loan shall be denominated in dollars and A.2 repaid by SIBF to the Borrower in Dinars, at least semi-annually at the official rate of exchange as determined by the Central Bank on the respective dates on which the proceeds of the Project, through BMloan are repaid by SIBF;
(ii) Parts B.1; B.2; B.3SIBF shall pay interest on the principal amount of said loan withdrawn and outstanding from time to time at a rate per annum,equal to at least the rate determined pursuant to Section 2.05 of this Agreement;
(iii) SIBF shall pay to the Borrower the commitment charge set forth in Section 2.04 of this Agreement, B.4 (b) and B.5 allocable to the part of the Project, through MOFproceeds of the Loan relent to but not withdrawn by SIBF; and
(iiiiv) Parts B.4 SIBF shall repay said loan over a period not to exceed eight (a8) years, including a grace period of three (3) of the Project, through MIEyears.
(bd) The Borrower shall exercise its rights and comply with its obligations under the SIBF Subsidiary Loan Agreement in such a manner as to protect the interests of the Borrower and the Bank, and to accomplish the purposes of the Loan, and, except as the Bank shall otherwise agree, the Borrower shall not assign, amend, abrogate or waive the SIBF Subsidiary Loan Agreement or any provision thereof.
Section 3.02. Without limitation upon the provisions of paragraph (a) of Section
3.01 of this Section Agreement, and except as the Borrower and the Association Bank shall otherwise agree, the Borrower shall carry out out, or cause to be carried out, the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to implementation program mutually agreed upon and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between regularly updated by the Borrower and BM on terms the Bank. Not later than June 30, 1990, and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall includeat least once annually thereafter, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests representatives of the Borrower and the Association Bank shall meet to review the progress achieved in carrying out the Project and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving review and update the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreementimplementation program.
Section 3.023.03. Except as the Association Bank shall otherwise agree, procurement of the goods, works services and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this Agreement.
Section 3.03. The Borrower shall:
(a) not later than April 30, 1991, furnish to The Borrower shall ensure that the Association acceptable terms Director of reference to carry Exterior Economic Relations (Directeur Charge des Relations Economiques Exterieures) of the MOE shall at all times have the overall responsibility for carrying out the studies Project, and shall be assisted by the Project Management Group, referred to in Part B.4 paragraph (a);b) of this Section.
(b) not later than December 31The Borrower shall establish and thereafter maintain, 1991:
(i) carry out in a form and complete, under with functions and terms of reference all satisfactory to the AssociationBank, a Project Management Group to assist the studies Director of Exterior Economic Relations of the MOE, referred to in Part B.4 paragraph (a) of this Section, in respect of the overall responsibility for carrying out the Project; and
(ii) submit to the Association the recommendations of said studies;.
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31shall ensure, 1990or cause to be ensured, that the said Director of Exterior Economic Relations shall prepare and complete an action plan (submit to the Plan) to determine Bank semi-annual reports, of such scope and in such detail as both the legal ownership status of enterprises under government intervention in accordance with Borrower and the provisions of Decree-Law No. 16/75 of Bank shall agree, on the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing carrying out the PlanProject.
Section 3.05. The Borrower shall:
(a) not later than June 30shall ensure, 1991or cause to be ensured, and not later than June 30 of each year thereafter until that the completion end beneficiaries of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans audit training program activities under Part A.1 B (4) of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to Project shall at all times bear the cost incurred by the Borrower in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations respect of such reviews activities, said costs to be determined in accordance with an action plan a methodology and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are procedures satisfactory to the Association, as are specified in Schedule 6 to this AgreementBank.
Appears in 1 contract
Samples: Loan Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this end, shall carry out:
(i) shall carry out Parts A.1 B and A.2 E of the Project through DER with due diligence and efficiency and in conformity with appropriate admini- strative and financial practices, and shall provide, promptly as needed, the funds, facilities, services and other resources required for such Parts of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without without limitation upon the provisions of paragraph (ai) of this Section above, and except as the Borrower and the Association Bank shall otherwise agree, the Borrower shall carry out Parts B and E of the Project in accordance with the Implementation Program set forth in Schedule 6 5 to this Agreement; and
(iii) without limitation or restriction upon any of its other obligations under the Loan Agreement, the Borrower shall cause the ORMVAs to perform their obligations set forth in the Project Agreement, shall take, or cause to be taken, all action, including the provision of funds, facilities, services and other resources, necessary or appropriate to enable the ORMVAs to perform their obligations, and shall not take or permit to be taken any action which would prevent or interfere with such performance.
(ib) The Borrower shall, shall make available to the ORMVAs as a grant an amount equivalent to two hundred million dollars ($200,000,000) out of the proceeds of the Credit, make available Loan under arrangements satisfactory to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this AgreementBank.
Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for Parts B and E of the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this Agreement.
Section 3.03. The Borrower shall:
(a) not later than April 30, 1991, furnish to the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out Bank and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and hereby agree that the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilitiesobligations set forth in Sections 9.04, powers9.05, facilities and staff whose experience and qualifications are satisfactory to the Association9.06, as are specified in Schedule 6 to this Agreement.9.07, 9.08 and
Appears in 1 contract
Samples: Loan Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this end, shall carry out:
(i) Parts A.1 and A.2 of out the Project, through BM;
other than Part B (iiiv) Parts B.1; B.2; B.3thereof, B.4 with due diligence and efficiency and in conformity with appropriate administrative, financial, public utility, petroleum industry, and ecological practices, and shall provide, promptly as needed, the funds, facilities, services and other resources required for the Project (bother than for Part B (iv) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIEthereof).
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as for purposes of assisting the Borrower and Guarantor in carrying out Part B (iv) of the Association shall otherwise agreeProject, the Borrower shall carry out enter into an agreement, satisfactory to the Project in accordance Bank, with the Implementation Program set forth in Schedule 6 Guarantor (the Subsidiary Agreement) under which the Borrower shall make available to this Agreement.
(i) The Borrower shall, out of the Guarantor the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf portion of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; Loan allocated for purposes of Part B (iiiv) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(dc) The Borrower shall exercise and cause BM to exercise their respective its rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit Sub- sidiary Agreement and, except as otherwise agreed with the Association shall otherwise agreeBank, the Borrower shall not take amend, revoke, abrogate or concur in any action which should have waive the effect of assigning, amending, abrogating or waiving the said Subsidiary Agreement or any provisions provision thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.02. Except as the Association Bank shall otherwise agree, procurement pro- curement of the goods, works and consultants’ services required for the Project (other than for Part B (iv) thereof) and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this Agreement.
Section 3.03. The Bank and the Borrower shall:
hereby agree that the obligations set forth in Sections 9.05, 9.06 and 9.07 of the General Conditions (arelating to use of services, plans and schedules and records and reports, respectively) not later than April 30, 1991, furnish to the Association acceptable terms in respect of reference to carry out the studies referred to in Part B.4 B (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (aiv) of the Project; and
(ii) submit Project shall be carried out by the Guarantor pursuant to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 3.04 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Guarantee Agreement.
Appears in 1 contract
Samples: Loan Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this end, shall carry outout the Project, through SDA, with the assistance of:
(i) EPAGRI in respect of Parts A.1 and A.2 A. 1 through A. 3 of the Project, through BMand partially in respect of Part A. 4 of the Project;
(ii) SDM in respect of Part C.1 of the Project;
(iii) the Municipalities in respect of Parts B.1A.1 through A.3 and C of the Project;
(iv) FATMA in respect of Part C.2 of the Project; B.2; B.3, B.4 and
(bv) ICEPA in respect of Parts D.1 and B.5 D.2 of the Project, Operational Manual and the Approved POAs, and shall provide or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project.
(b) The Borrower shall enter into an agreement with:
(i) EPAGRI in respect of Parts A.1 through MOFA.3 of the Project, and partially in respect of Part A. 4 of the Project;
(ii) FATMA in respect of Part C.2 of the Project; and
(iii) ICEPA in respect of Parts B.4 (a) D.1 and D.2 of the Project, through MIE.
(b) Without limitation upon all under terms satisfactory to the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program Bank to set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall includeforth, inter alia, the following provisionsrespective responsibilities of the Executing Agencies in the implementation of their respective Parts of the Project; and
(c) For the purposes of carrying out the Project, the Borrower shall:
(i) maintain during Project implementation:
(A) Subproject eligibility criteriathe PMU with responsibilities, processing structure and administration procedures and onlending terms and conditions for Sub-loans and Investments;functions satisfactory to the Bank; and
(B) definition of BM’s State and Regional Councils with responsibilities and functions and responsibilities regarding satisfactory to the implementation of Parts A.1 and A.2 of the ProjectBank;
(Cii) cause the obligation Municipalities, under the terms of BM the Municipality Agreements to establish and thereafter maintain during Project implementation, municipal councils with responsibilities and functions satisfactory to the Bank; and
(iii) enter into Sub-loan Agreements or Investment Agreements an agreement with BEs each Municipality under terms and conditions which shall have been approved by satisfactory to the Association; and
(D) Bank, to set forth, inter alia, the Borrower shall carry:
(i) Municipality’s obligation to operate the commercial and foreign exchange risks, councils referred to in the case of Investments; and
(ii) the foreign exchange riskabove, to assist in the case promotion and dissemination of Sub- loansthe Project, and to participate in the activities referred to in Parts A.1 through A.4, C and D.2 and D.3 of the Project within its jurisdictions.
(d) The Borrower shall, through SDA, enter into a Grant Agreement, with each Beneficiary substantially in accordance with the terms of the Model Forms.
(e) The Borrower shall, not later than one year after the Effective Date, enter into an agreement with FUNAI, under terms and conditions satisfactory to the Bank, to set forth, inter alia, XXXXX’s undertaking to, as and when needed, facilitate and expedite the issuance of juridical status to Indigenous Peoples not yet established as Indigenous Peoples Communities.
(f) The Borrower shall exercise its rights and cause BM to exercise their respective rights comply with its obligations under the Subsidiary Administration EPAGRI Agreement, the FATMA Agreement, the ICEPA Agreement, each of the Municipality Agreements and the Grant Agreements, and the FUNAI Cooperation Agreement in such a manner as to protect the interests of the Borrower and the Association Bank and to accomplish the purposes of the Credit Loan and, except as the Association Bank shall otherwise agree, the Borrower shall not take assign, amend, abrogate, waive or concur in fail to enforce the EPAGRI Agreement, the FATMA Agreement, the ICEPA Agreement, any action which should have of the effect of assigning, amending, abrogating Municipality Agreements or waiving the said Grant Agreements or the FUNAI Cooperation Agreement or any provisions provision thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this Agreement.
Section 3.03. The Borrower shall:
(a) not later than April 30maintain policies and procedures adequate to enable it to monitor and evaluate on an ongoing basis, 1991in accordance with the Performance Indicators, furnish to the Association acceptable terms carrying out of reference to carry out the studies referred to in Part B.4 (a)Project and the achievement of the objectives thereof;
(b) not later than December 31, 1991:
(i) carry out and completeprepare, under terms of reference satisfactory to the AssociationBank, and furnish to the studies referred Bank, not later than six months after the Effective Date and every year thereafter during the period of Project implementation, reports integrating the results of the evaluation activities performed pursuant to in Part B.4 paragraph (a) of this Section, on the Projectprogress achieved in the carrying out of the Project during the period preceding the date of such reports and setting out the measures recommended to ensure the efficient carrying out of the Project and the achievement of the objectives thereof during the period following such date; and
(iic) submit review with the Bank shortly after such reports’ preparation, the reports referred to in paragraph (b) of this Section, and, thereafter, take all measures required to ensure the Association efficient completion of the Project and the achievement of the objectives thereof, based on the conclusions and recommendations of the said studies;
(c) not later than June 30, 1992 exchange reports and taking into account the Bank's views with on the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action programmatter.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990by September 30 of each year during Project implementation, prepare and complete an action furnish to the Bank the proposed annual operating plan (and budget, satisfactory to the Plan) Bank, detailing the Project activities proposed to determine be carried out during the legal ownership status next succeeding year and the respective sources of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;funding therefor; and
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 3030 days after the enactment of the Borrower's budgetary law, 1993furnish to the Bank the portion of the budget allocated to the Project for each year in question, review jointly with and the Associationresulting respective annual operating plan referred to in paragraph (a) of this Section, progress achieved in implementing the Planfor such year (Approved POA).
Section 3.05. The Borrower shallshall carry out the Project in accordance with a manual, satisfactory to the Bank, said manual to include, inter alia:
(a) not later than June 30the organizational structure of the Project and the procedures for the carrying out, 1991monitoring and evaluation of the Project (including the procurement and financial requirements thereof);
(b) criteria for selection of Municipalities, Microcatchments, and not later than June 30 Beneficiaries;
(c) requirements for the selection, approval and implementation of each year thereafter until the completion of the ProjectRural Subprojects, review jointly with the Association, the followingincluding:
(i) progress achieved in Project implementation the environmental screening, evaluation, approval and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;monitoring procedures; and
(ii) Subproject eligibility criteria the definition of responsibility for the preparation of environmental assessments of Subprojects, and onlending terms respective institutional arrangements;
(d) (i) the strategy to address the concerns of Indigenous Peoples, to ensure their participation and conditions referred involvement in Project implementation, and to in Schedule 4 ensure their access to this Agreementthe various Project activities; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Execution of the Project. (a) The Borrower Section 2.01. PNOC-EDC declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall carry out:
(i) Parts A.1 and A.2 of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out the Project with due diligence and efficiency and in accordance conformity with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shallappropriate economic, out of the proceeds of the Creditenergy, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to engineering, financial, administrative and Investments in eligible BEsenvironmental practices, on behalf of the Borrowerand shall provide, under a Subsidiary Administration Agreement or cause to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall includeprovided, inter aliapromptly as needed, the following provisions:
(A) Subproject eligibility criteriafunds, processing facilities, services and administration procedures and onlending terms and conditions other resources required for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 1 to this Agreement.
Section 3.032.03. The Borrower shall:PNOC-EDC shall carry out the obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement and the Project.
Section 2.04. PNOC-EDC shall duly perform all its obligations under the Subsidiary Loan Agreement. Except as the Bank shall otherwise agree, PNOC-EDC shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Subsidiary Loan Agreement, or any provision thereof.
Section 2.05. (a) not later than April 30PNOC-EDC shall, 1991, furnish to at the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) request of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30Bank, 1992 exchange views with the Association on said recommendations and agree Bank with regard to the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the Subsidiary Loan Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationLoan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower CMC declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(i) out Parts A.1 A.2, B.2, C and A.2 F.3 of the ProjectProject with due diligence and efficiency and in conformity with appropriate administrative, through BM;
(ii) Parts B.1; B.2; B.3financial and engineering practices, B.4 (b) and B.5 of shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association CMC shall otherwise agree, the Borrower CMC shall carry out Parts A.2, B.2, C and F.3 of the Project in accordance with the Implementation Program set forth in Schedule 6 4 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to Development Credit Agreement and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and perform all obligations therein set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM extent that such obligations are applicable to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this AgreementCMC.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, goods and works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this the Development Credit Agreement.
Section 3.032.03. The Borrower shall:CMC shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement and Parts A.2, B.2, C and F.3 of the Project.
Section 2.04. CMC shall duly perform all its obligations under the CMC Subsidiary Loan Agreement. Except as the Association shall otherwise agree, CMC shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the CMC Subsidiary Loan Agreement or any provision thereof.
Section 2.05. (a) not later than April 30CMC shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations with regard to the progress of Parts A.2, B.2, C and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion F.3 of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the CMC Subsidiary Loan Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationCredit.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: CMC Project Agreement
Execution of the Project. (a) The Borrower Board declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(i) Parts A.1 out the Project with due diligence and A.2 of efficiency and in conformity with appropriate administrative, financial, engineering and public utility practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association Board shall otherwise agree, the Borrower Board shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 2 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 1 to this Agreement.
Section 3.032.03. the Board shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement.
Section 2.04. The Borrower shall:Board shall duly perform all its obligations under the Subsidiary Loan Agreements. Except as the Association shall otherwise agree, the Board shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Subsidiary Loan Agreements or any provision thereof.
(a) not later than April 30The Board shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with regard to the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 progress of the BorrowerProject, dated February 13the performance of its obligations under this Agreement and under the Subsidiary Loan Agreements, 1975, as amended;and other matters relating to the purposes of the Credit,
(b) The Board shall promptly thereafter, take all legal and administrative measures necessary inform the Association of any condition which interferes or threatens to implement the Plan; and
(c) not later than June 30, 1993, review jointly interfere with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 accomplishment of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution purposes of the Project with such responsibilitiesCredit, powers, facilities or the performance by the Board of its obligations under this Agreement and staff whose experience and qualifications are satisfactory to under the Association, as are specified in Schedule 6 to this AgreementSubsidiary Loan Agreements.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower SLRA declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, the Development Credit Agreement and, to this end, shall carry out:
out Parts A (i2) Parts A.1 (b), A (3), B (1), C (1) and A.2 C (2) of the Project, through BM;
Project on behalf of itself and Parts A (ii2) Parts B.1; B.2; B.3, B.4 (b) and B.5 C (5) on behalf of the Borrower with due diligence and efficiency and in conformity with appropriate administrative, financial, transport sector and environmental practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the said Parts of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association SLRA shall otherwise agree, the Borrower SLRA shall carry out Parts A (2) (b) A (3), B (1), C (1), C (2) and C (5) of the Project in accordance with the Implementation Program set forth in the Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for Parts A (2) (b), A (3), B (1), C (1), C (2) and C (5) of the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 5 to this the Development Credit Agreement.
Section 3.032.03. The Borrower shall:
(a) not later than April 30, 1991, furnish to the Association acceptable terms of reference to SLRA shall carry out the studies referred obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Condi- tions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in Part B.4 respect of the SLRA Project Agreement and Parts A (a);
2) (b), A (3), B (1), C (1), C (2) not later than December 31, 1991:
and (iC) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a5) of the Project; and.
(ii) submit to Section 2.04. SLRA shall duly perform all its obligations under the Subsidiary Financing Agreement. Except as the Association shall otherwise agree, SLRA shall not take or concur in any action which would have the recommendations effect of said studies;amending, abrogating, assigning or waiving the Subsidiary Financing Agreement or any provision thereof.
Section 2.05. (ca) not later than June 30SLRA shall, 1992 at the request of the Association, exchange views with the Association on said recommendations and agree with regard to the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the Subsidiary Financing Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationCredit.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Slra Project Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this end, shall carry out:
: (i) Parts A.1 A.1, A.2 (a), A.3 (b) and A.2 (c), C.2 and C.3 of the Project, Project through BM;
EEA and RES in MOI; (ii) Parts B.1; B.2; B.3, B.4 A.2 (b) and B.5 D.4 of the Project, Project through MOFEREDPC in MORD; and
(iii) Parts B.4 D.1, D.2 and D.3 of the Project through MOA; and (aiv) Part A.4 of the Project through MOM, with due diligence and efficiency and in conformity with appropriate administrative, financial, engineering, agricultural, environmental, mining and technical practices, and shall provide promptly as needed the funds, facilities, services and other resources required for the implementation of the above mentioned Parts of the Project, through MIE.
(b) Without any limitation or restriction upon any of its other obligations under the Development Credit Agreement, the Borrower shall cause EEPCO to perform in accordance with the provisions of the Project Agreement all the obligations of EEPCO therein set forth, and shall take and cause to be taken all action, including the provision of funds, facilities, services and other resources, necessary or appropriate to enable EEPCO to perform its obligations, and shall not take or permit to be taken any action which would prevent or interfere with such performance.
(c) Without limitation upon the provisions of paragraph (a) of this Section section, and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out Parts A.1, A.2, A.3 (b) and (c), A.4, C.2, C.3, D.1, D.2, D.3 and D.4 of the Project in accordance with the Implementation Program implementation program set forth in Schedule 6 4 to this Agreement.
(id) The For purposes of the Parts of the Project being implemented by EEPCO, the Borrower shall, out of shall relend the proceeds of the CreditCredit allocated from time to time to categories 2, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights 3 (SDR 31,900,000c), 4 (d), and 5 (a) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, table in paragraph 1 of Schedule 1 of this Agreement to EEPCO under a Subsidiary Administration Loan Agreement to be entered into between the Borrower and BM on EEPCO, under terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by include the Association; and
(D) the Borrower shall carryfollowing:
(i) the commercial and foreign exchange risksprincipal amount of the subsidiary loan shall be repaid by EEPCO in Ethiopian Birr to the Borrower in fifteen (15) annual installments over twenty (20) years, in the case including a grace period of Investments; andfive (5) years;
(ii) the foreign exchange riskprincipal amount of the subsidiary loan repayable by EEPCO shall be the equivalent in Ethiopian Birr of the value of the currency or currencies withdrawn from the Credit Account in respect of the above mentioned categories, in determined as of the case date, or respective dates of Sub- loansrepayment; and
(iii) interest shall be charged on the outstanding balance of the subsidiary loan at a rate of six per cent (6%) per annum.
(de) The Borrower shall exercise and cause BM to exercise their respective its rights under the Subsidiary Administration Agreement, Loan Agreement in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit Credit, and, except as the Association shall otherwise agree, the Borrower shall not take assign, amend, abrogate or concur in any action which should have waive the effect of assigning, amending, abrogating or waiving the said Subsidiary Loan Agreement or any provisions provision thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this Agreement.
Section 3.03. The Borrower and the Association hereby agree that the obligations set forth in sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Parts of the Project to be implemented by EEPCO shall be carried out by EEPCO, pursuant to Section 2.03 of the Project Agreement.
Section 3.04. For the purposes of Section 9.06 of the General Conditions and without limitation thereto, the Borrower shall:
(a) not later than April 30prepare, 1991on the basis of guidelines acceptable to the Association, and furnish to the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
six (i6) carry out months after the Closing Date or such later date as may be agreed for this purpose between the Borrower and complete, under terms of reference satisfactory to the Association, a plan for the studies referred to in Part B.4 (a) future operation of the Project; and
(iib) submit to afford the Association the recommendations of said studies;
(c) not later than June 30, 1992 a reasonable opportunity to exchange views with the Association Borrower on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action programplan.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Development Credit Agreement
Execution of the Project. (a) The Borrower Each Project Province declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(i) out Parts A.1 A, B, C and A.2 D of the Project with due diligence and efficiency and in conformity with appropriate administrative, financial, engineering and health practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for Parts A, B, C and D of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association Project Provinces shall otherwise agree, the Borrower :
(i) each Project Province shall carry out Parts A, B, C and D of the Project in accordance with the Implementation Program set forth in Schedule 6 2 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) each Project Province shall make the foreign exchange risk, in proceeds of the case of Sub- loans.
(d) The Borrower shall exercise and cause BM Credit lent to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of it by the Borrower and the Association additional funds from its own resources available to health institutions and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of bureaus carrying out the Project will be made in accordance with at the prefecture, county, township and village levels on the terms and conditions set forth in Schedule 4 3 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 1 to this Agreement.
Section 3.032.03. The Borrower shall:the Project Provinces shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating respectively to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition) in respect of the Project Agreement and Parts A, B, C and D of the Project.
Section 2.04. (a) not later than April 30the Project Provinces shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations with regard to the progress of Parts A, B, C and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion D of the Project, review jointly with the Association, performance of their respective obligations under this Agreement and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationCredit.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower RDF declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(i) Parts A.1 out the Project with due diligence and A.2 of efficiency and in conformity with appropriate administrative, financial, engineering and agricultural practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association RDF shall otherwise agree, the Borrower RDF shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 2 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 1 to this Agreement.
Section 3.032.03. The Borrower shall:RDF shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement.
Section 2.04. RDF shall duly perform all its obligations under the Subsidiary Agreement. Except as the Association shall otherwise agree, RDF shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Subsidiary Agreement or any provision thereof.
Section 2.05. (a) not later than April 30RDF shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with regard to the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the Subsidiary Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationCredit.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower BLC declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(i) out Parts A.1 and A.2 B through H of the ProjectProject with due diligence and efficiency and in conformity with appropriate administrative, through BM;
(ii) Parts B.1; B.2; B.3financial, B.4 (b) engineering and B.5 of forestry practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association BLC shall otherwise agree, the Borrower BLC shall carry out Parts B through H of the Project in accordance with with: (i) an Operational Action Plan, satisfactory to the Implementation Program Association, as such plan may be reviewed on an annual basis and revised, as necessary, by agreement between the Association and BLC; and (ii) sound environmental protection measures including those set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this AgreementOperational Action Plan.
Section 3.022.02. Except as the Association and Switzerland shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit and the Swiss Contribution shall be governed by the provisions of the Schedule 3 to this Agreement.
Section 3.032.03. The Borrower shall:BLC shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement and Parts B through H of the Project.
Section 2.04. BLC shall duly perform all its obligations under the Subsidiary Loan Agreement. Except as the Association shall otherwise agree, BLC shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Subsidiary Loan Agreement or any provision thereof.
Section 2.05. (a) not later than April 30BLC shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with regard to the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the Subsidiary Loan Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationCredit.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this AgreementProject, and, to this end, without any limitation or restriction upon any of its other obligations under the Loan Agreement, shall carry out:
(i) Parts A.1 and A.2 cause CDR to perform in accordance with the provisions of the ProjectProject Agreement all the obligations of CDR therein set forth, through BM;
(ii) Parts B.1; B.2; B.3shall take or cause to be taken all action, B.4 (b) including the provision of funds, facilities, services and B.5 of the Projectother resources, through MOF; and
(iii) Parts B.4 (a) of the Projectnecessary or appropriate to enable CDR to perform such obligations, through MIEand shall not take or permit to be taken any action which would prevent or interfere with such performance.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the The Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of make the proceeds of the Credit, make Loan available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, CDR on behalf of the Borrower, a grant basis under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall includeCDR, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loansBank.
(dc) The Borrower shall exercise and cause BM to exercise their respective its rights under the Subsidiary Administration Agreement, Agreement in such manner as to protect the interests of the Borrower and the Association Bank and to accomplish the purposes of the Credit Loan, and, except as the Association Bank shall otherwise agree, the Borrower shall not take assign, amend, abrogate or concur in any action which should have waive the effect of assigning, amending, abrogating or waiving the said Subsidiary Agreement or any provisions provision thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 1 to this the Project Agreement.
Section 3.03. The Bank and the Borrower shall:
(a) not later than April 30hereby agree that the obligations set forth in Sections 9.04, 19919.05, furnish to the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 319.06, 1991:
(i) carry out 9.07, 9.08 and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) 9.09 of the Project; and
General Conditions (iirelating to insurance, use of goods, works and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) submit shall be carried out by CDR pursuant to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution 2.03 of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Execution of the Project. (a) The Borrower declares its PCIs declare their commitment to the objectives of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall carry out:
(i) out Parts A.1 A, B and A.2 E of the Project with due diligence and efficiency and in conformity with appropriate administrative, financial, engineering and agricultural credit practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for Parts A, B and E of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Bank and the Association PCIs shall otherwise agree, the Borrower PCIs shall carry out Parts A, B and E of the Project in accordance with the Implementation Program set forth in Schedule 6 2 to this Agreement.
(ic) The Borrower shallExcept as the Bank shall otherwise agree, out of the proceeds of the Credit, make available Loan relent to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) PCIs for making Sub-loans to and Investments in eligible BEs, on behalf purposes of Part A of the Borrower, under a Subsidiary Administration Agreement Project shall be on-lent by them to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs beneficiaries under terms and conditions which shall have been approved by the Association; and
(D) the Borrower Bank which shall carry:
include: (i) the commercial and foreign exchange risksfor credit extended by ADBP, in the case rates of Investments; and
return set forth in, or otherwise determined from time to time pursuant to, Section 4.03 (b) (ii) the foreign exchange riskof this Agreement; and (ii) for credit extended by NCBs, in the case rates of Sub- loans.
return determined from time to time pursuant to Section 4.10 (da) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for Parts A, B and E of the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 I to this Agreement.
Section 3.032.03. The Borrower shall:PCIs shall carry out the obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement and their respective areas of responsibility under Parts A, B and E of the Project.
Section 2.04. PCIs shall duly perform all their obligations under the Subsidiary Loan Agreements. Except as the Bank shall otherwise agree, PCIs shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Subsidiary Loan Agreements or any provisions thereof.
Section 2.05. (a) not later than April 30PCIs shall, 1991, furnish to at the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) request of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30Bank, 1992 exchange views with the Association on said recommendations Bank with regard to progress of Parts A, B and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion E of the Project, review jointly with the Associationperformance of their obligations under this Agreement and under the Subsidiary Loan Agreements, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationLoan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower FID declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(i) Parts A.1 out the Project with due diligence and A.2 of efficiency and in conformity with appropriate administrative, financial, engineering and environmental practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association FID shall otherwise agree, the Borrower FID shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 2 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 1 to this Agreement.
Section 3.032.03. The FID shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement.
Section 2.04. FID shall duly perform all its obligations under the Convention and the Procedures' Manual. Except as the Borrower shall:and the Association shall otherwise agree, FID shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Convention or the Procedures' Manual, or any provision thereof.
Section 2.05. (a) not later than April 30FID shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with regard to the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Associationperformance of its obligations under this Agreement, the following:
(i) progress achieved in Project implementation Convention and meeting Project objectivesthe Procedures' Manual, including interest rates applicable and other matters relating to Sub-loans under Part A.1 the purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationCredit.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, and to this end, shall carry out:
shall: (i) carry out Parts A.1 A through C of the Project through MINAGRI; and A.2 (ii) cause, under contractual arrangements, the State Veterinary Services to carry out Part D of the Project; all with due diligence and efficiency and in conformity with appropriate administrative, through BM;
(ii) Parts B.1; B.2; B.3financial, B.4 (b) managerial and B.5 of veterinary practices, and shall provide, promptly as needed, the funds, facilities, services and other resources required for the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of to its obligations under paragraph (a) above, the Borrower shall: (i) cause the Central Bank to provide advances in cruzados into a project account to be opened and operated by MINAGRI for purposes of this Section and except as the Project, pursuant to the terms of the agreement between the Borrower and the Association Central Bank, dated April 5, 1984, providing therefor; and (ii) unless the Bank shall otherwise agree, the Borrower shall carry out the Project in accordance not assign, amend, abrogate, fail to comply with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in waive such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement agreement or any provisions provision thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this Agreement.
Section 3.03. The Borrower shall:
(a) not later than April 30shall maintain at all times an institutional development unit within SDSA for purposes of the Project with functions, 1991organizational structure, furnish to the Association acceptable terms of reference to carry out the studies referred to management and staffing in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out numbers and complete, under terms of reference with qualifications satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action programBank.
Section 3.04. The Borrower shall:
: (a) not later than December 31through SDSA, 1990carry out its obligations under the agreement entered into with EMBRATER on June 10, prepare 1987, which, includes, inter alia, their respective obligations and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention responsibilities regarding animal disease prevention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.Area;
Appears in 1 contract
Samples: Loan Agreement
Execution of the Project. (a) The Borrower declares its Project States declare their commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(i) out Parts A.1 A through E.4 of the Project with due diligence and A.2 efficiency and in conformity with appropriate administrative, financial, engineering and agricultural practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for such Parts of the Project, through BM;.
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 Without limitation upon the provisions of the Project, through MOF; and
(iii) Parts B.4 paragraph (a) of this Section, the Project, through MIEProject States shall take all measures necessary to ensure that their respective annual budgets provide for adequate funds for the carrying out of the annual watershed development program and for its maintenance and operations thereafter.
(bc) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association, the Bank and the Association Project States shall otherwise agree, the Borrower Project States shall carry out Parts A through E.4 of the Project in accordance with the Implementation Program set forth in the Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.022.02. Except as the Association and the Bank shall otherwise agree, procurement of the goods, works and consultants’ , services required for the Project and to be financed out of the proceeds of the Credit and of the Loan shall be governed by the provisions of Schedule 3 to this the Development Credit Agreement.
Section 3.032.03. The Borrower shall:Project States shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions applicable to the Development Credit Agreement and in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions applicable to the Loan Agreement (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement and Part A through E.4 of the Project.
(a) not later than April 30The Project States shall, 1991, furnish to at the request of the Association acceptable terms of reference to carry out and the studies referred to in Part B.4 (a);
(b) not later than December 31Bank, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree the Bank with regard to the Association on an action program and a timetable for the implementation progress of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 Part A through E.4 of the BorrowerProject, dated February 13the performance of their obligations under this Agreement, 1975, as amended;and other matters relating to the purposes of the Credit and of the Loan.
(b) The Project States shall promptly thereafter, take all legal inform the Association and administrative measures necessary the Bank of any condition which interferes or threatens to implement the Plan; and
(c) not later than June 30, 1993, review jointly interfere with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 accomplishment of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement purposes of the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower Credit and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during Loan, or the execution of performance by the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to States of their obligations under this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower CNSIC declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(i) Parts A.1 out the Project with due diligence and A.2 of efficiency and in conformity with appropriate administrative, financial, engineering, industry and health practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association CNSIC shall otherwise agree, the Borrower CNSIC shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 2 to this Agreement.
(i) The Borrower shall, and carry out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and such other actions as are set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange riskssaid Schedule, in accordance with the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works goods and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 1 to this Agreement.
Section 3.032.03. The Borrower shall:CNSIC shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions applicable to the Development Credit Agreement and in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions applicable to the Loan Agreement (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project.
Section 2.04. CNSIC shall duly perform all its obligations under the Subsidiary Loan Agreement. Except as the Association shall otherwise agree, CNSIC shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Subsidiary Loan Agreement or any provision thereof.
Section 2.05. (a) not later than April 30CNSIC shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with regard to the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Associationperformance of CNSIC’s obligations under this Agreement and under the Subsidiary Loan Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationCredit.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower DMC declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(i) out Parts A.1 A.1, B.1, D and A.2 F.2 of the ProjectProject with due diligence and efficiency and in conformity with appropriate administrative, through BM;
(ii) Parts B.1; B.2; B.3financial and engineering practices, B.4 (b) and B.5 of shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association DMC shall otherwise agree, the Borrower DMC shall carry out Parts A.1, B.1, D and F.2 of the Project in accordance with the Implementation Program set forth in Schedule 6 4 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to Development Credit Agreement and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and perform all obligations therein set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM extent that such obligations are applicable to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this AgreementDMC.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, goods and works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this the Development Credit Agreement.
Section 3.032.03. The Borrower shall:DMC shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement and Parts A.1, B.1, D and F.2 of the Project.
Section 2.04. DMC shall duly perform all its obligations under the DMC Subsidiary Loan Agreement. Except as the Association shall otherwise agree, DMC shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the DMC Subsidiary Loan Agreement or any provision thereof.
Section 2.05. (a) not later than April 30DMC shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations with regard to the progress of Parts A.1, B.1, D and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion F.2 of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the DMC Subsidiary Loan Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationCredit.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: DMC Project Agreement
Execution of the Project. (a) The Borrower EPAL declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall carry out:
operate and manage the facilities provided under Part A.1 of the Project and operate, manage and maintain the equipment provided under Parts A.6 (i) Parts A.1 and A.2 of the Project, through BM;
A.8 (ii) Parts B.1; B.2; B.3thereof, B.4 (b) and B.5 of the Projectfrom time to time, through MOF; and
(iii) Parts B.4 (a) of the Projectpromptly as needed, through MIEmake all necessary repairs and renewals thereof, all in conformity with appropriate administrative, financial and engineering practices.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Bank and the Association EPAL shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
EPAL shall: (i) The Borrower shall, out assign appropriately qualified staff to be trained under the training program provided under Part B.1 of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to Project; and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, implement said program in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreementa timely fashion.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services goods required for the Parts A.5, A.6 (i) and A.8 (ii) of Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this the Loan Agreement.
Section 3.032.03. The Borrower shall:
EPAL shall carry out the obligations set forth in Sections 9.04, 9.05, 9.07 (a) not later than April 30and (c) and 9.08 of the General Conditions (relating to insurance, 1991use of goods and services, furnish to the Association acceptable terms records and reports, and maintenance, respectively) in respect of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31this Agreement and Parts A.1, 1991:
A.5, A.6 (i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 A.8 (aii) of the Project; and.
Section 2.04. EPAL shall duly perform all its obligations under the EPAL Reimbursement Agreement. Except as the Bank and EPAL shall otherwise agree, EPAL shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the EPAL Reimbursement Agreement or any provision thereof.
Section 2.05. (iia) submit to EPAL shall, at the Association request of the recommendations of said studies;
(c) not later than June 30Bank, 1992 exchange views with the Association on said recommendations and agree Bank with regard to the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
carrying out Parts A.5, A.6 (ai), A.8 (ii) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion B.1 of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the EPAL Reimbursement Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationLoan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Epal Project Agreement
Execution of the Project. (a) The Borrower ICAR declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(iout Parts A, B and C 1(d) Parts A.1 and A.2 of the ProjectProject through PIU with due diligence and efficiency and in conformity with appropriate administrative, through BM;
(ii) financial and agricultural technology practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for Parts B.1; B.2; B.3A, B.4 (b) B and B.5 of the Project, through MOF; and
(iii) Parts B.4 (aC 1(d) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association, the Bank and the Association ICAR shall otherwise agree, the Borrower ICAR shall carry out Parts A, B and C 1(d) of the Project in accordance with the Project Implementation Plan, and the Implementation Program set forth in the Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.022.02. Except as the Association and the Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit and the Loan shall be governed by the provisions of Schedule 3 to this the Development Credit Agreement.
Section 3.032.03. The Borrower shall:
(a) not later than April 30, 1991, furnish to the Association acceptable terms of reference to ICAR shall carry out the studies referred to obligations set forth in Part B.4 (a);
(b) not later than December 31Sections 9.03, 1991:
(i) carry out 9.04, 9.05, 9.06, 9.07 and complete, under terms 9.08 of reference satisfactory the General Conditions Applicable to the AssociationDevelopment Credit Agreements, and in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the studies referred General Conditions Applicable to the Loan and Guarantee Agreements for Single Currency Loans (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in Part B.4 (arespect of the Project Agreement and Parts A , B and C 1(d) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this end, shall carry out:
(i) Parts A.1 out the Project through, MOH, District Administrations, NGOs, CBOs and A.2 of private health service providers all with due diligence and efficiency and in conformity with appropriate administrative, financial and public health practices, and shall provide, promptly as needed, the funds, facilities, services and other resources required for the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this Agreement.
Section 3.03. The Borrower shall:
(a) not later than April 30, 1991, furnish to The Borrower and the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) shall, not later than December 31, 1991:
(i) carry out and complete1997, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and undertake a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, joint comprehensive review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with during which they shall exchange views generally on all matters relating to the Associationprogress made in the carrying out of the Project and the performance by the Borrower of its obligations under this Agreement; including, the following:
but not limited to (i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 a review of the achievements of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred , having regard to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as performance indicators agreed upon between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU ; (ii) the implementation and IWG during the execution management aspects of the Project with such responsibilitiesProject; (iii) implementation procedures in each District, powers, facilities (iv) performance and staff whose experience use of technical assistance personnel; (v) the role of national counterpart staff; (vi) the status and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.results of training;
Appears in 1 contract
Samples: Development Credit Agreement
Execution of the Project. (a) The Borrower Section 2.01. Each of the Corporations declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall carry out:
(i) Parts A.1 and A.2 out its respective Part of the Project, through BM;
(ii) Parts B.1; B.2; B.3described in said Schedule, B.4 (b) with due diligence and B.5 of the Projectefficiency and in conformity with appropriate administrative, through MOF; and
(iii) Parts B.4 (a) of the Projectfinancial and engineering practices, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out the Project in accordance with environmental standards agreed with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this AgreementBank.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goodsgoods and technology, works and consultants’ services employment of engineering firms and consultants required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this the Loan Agreement.
Section 3.032.03. The Borrower shall:Each of the Corporations shall carry out the obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement and each of the Corporations’ respective Part of the Project.
Section 2.04. Each of the Corporations shall maintain the Project Implementation Unit, established within such Corporation, with staff, functions and responsibilities acceptable to the Bank.
Section 2.05. Each of the Corporations shall duly perform all its obligations under the respective Subsidiary Loan Agreement. Except as the Bank shall otherwise agree, none of the Corporations shall take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the respective Subsidiary Loan Agreement to affect the provisions of paragraph (b) of Section 3.02 of the Loan Agreement.
Section 2.06. (a) not later than April 30, 1991, furnish to the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) Each of the Project; and
(ii) submit to Corporations shall, at the Association request of the recommendations of said studies;
(c) not later than June 30Bank, 1992 exchange views with the Association on said recommendations and agree Bank with regard to the Association on an action program and a timetable for the implementation progress of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion its respective Part of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the respective Subsidiary Loan Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationLoan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this end, shall carry out:
: (i) Parts A.1 A(1), A(3) and A.2 B of the Project, Project through BM;
LGUs; (ii) Parts B.1; B.2; B.3, B.4 (bPart A(2) and B.5 of the Project, Project through MOFNIA; and
(iii) Parts B.4 (a) Part C of the Project through DA; and (iv) Part D of the Project through DA and DENR, with due diligence and efficiency, in conformity with appropriate administrative, management, economic, financial and environmental practices and in accordance with the Operations Manual, and shall provide, promptly as needed, the funds, facilities, services and other resources required for the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association Bank shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 5 to this Agreement.
(ic) The Borrower shall:
(i) in respect of Parts A(1), out A(3) and B of the proceeds of the CreditProject, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEsLGUs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter aliathrough MDFO, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions Loan proceeds allocated for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 said parts of the Project;
(Cii) in respect of Part A(2) of the obligation Project, make available to NIA, through MDFO, the Loan proceeds allocated for said part of BM the Project; and
(iii) in respect of Part C of the Project, make available to enter into Sub-loan Agreements or Investment Agreements with BEs DA the Loan proceeds allocated for said part of the Project, all under terms and conditions which shall have been approved by satisfactory to the Association; and
(D) Bank. To that end, the Borrower shall carry:
(i) make such funds available to the commercial LGUs, NIA and foreign exchange risksDA under a memorandum of agreement to such effect, in satisfactory to the case of Investments; and
(ii) the foreign exchange riskBank, in the case of Sub- loansbetween DOF and DA.
(d) The Borrower shall exercise and cause BM to exercise their respective its rights under the Subsidiary Administration AgreementMemorandum of Agreement entered into pursuant to the provisions of paragraph (c) above, in such manner as to protect the interests of the Borrower and the Association Bank and to accomplish the purposes of the Credit Loan, and, except as the Association Bank shall otherwise agree, the Borrower shall not take assign, amend, abrogate or concur in any action which should have the effect waive such Memorandum of assigning, amending, abrogating or waiving the said Agreement or any provisions provision thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this Agreement.
Section 3.03. The For the purposes of Section 9.08 of the General Conditions and without limitation thereto, the Borrower shall:
(a) prepare, on the basis of guidelines acceptable to the Bank, and furnish to the Bank not later than April 30six (6) months before the Closing Date or such later date as may be agreed for this purpose between the Borrower and the Bank, 1991, furnish to a plan for the Association acceptable terms continued achievement of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) purposes of the Project; and
(iib) submit afford the Bank a reasonable opportunity to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association Borrower on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action programplan.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this end, shall carry out:
: (i) Parts A.1 A.1, A.2 (a), A.3 (b) and A.2 (c), C.2 and C.3 of the Project, Project through BM;
EEA and RES in MOI; (ii) Parts B.1; B.2; B.3, B.4 A.2 (b) and B.5 D.4 of the Project, Project through MOFEREDPC in MORD; and
(iii) Parts B.4 D.1, D.2 and D.3 of the Project through MOA; and (aiv) Part A.4 of the Project through MOM, with due diligence and efficiency and in conformity with appropriate administrative, financial, engineering, agricultural, environmental, mining and technical practices, and shall provide promptly as needed the funds, facilities, services and other resources required for the implementation of the above mentioned Parts of the Project, through MIE.
(b) Without any limitation or restriction upon any of its other obligations under the Development Credit Agreement, the Borrower shall cause EEPCO to perform in accordance with the provisions of the Project Agreement all the obligations of EEPCO therein set forth, and shall take and cause to be taken all action, including the provision of funds, facilities, services and other resources, necessary or appropriate to enable EEPCO to perform its obligations, and shall not take or permit to be taken any action which would prevent or interfere with such performance.
(c) Without limitation upon the provisions of paragraph (a) of this Section section, and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out Parts A.1, A.2, A.3 (b) and (c), X.0, X.0, X.0, X.0, X.0, X.0 xxx X.0 of the Project in accordance with the Implementation Program implementation program set forth in Schedule 6 4 to this Agreement.
(id) The For purposes of the Parts of the Project being implemented by EEPCO, the Borrower shall, out of shall relend the proceeds of the CreditCredit allocated from time to time to categories 2, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights 3 (SDR 31,900,000c), 4 (d), and 5 (a) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, table in paragraph 1 of Schedule 1 of this Agreement to EEPCO under a Subsidiary Administration Loan Agreement to be entered into between the Borrower and BM on EEPCO, under terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by include the Association; and
(D) the Borrower shall carryfollowing:
(i) the commercial and foreign exchange risksprincipal amount of the subsidiary loan shall be repaid by EEPCO in Ethiopian Birr to the Borrower in fifteen (15) annual installments over twenty (20) years, in the case including a grace period of Investments; andfive (5) years;
(ii) the foreign exchange riskprincipal amount of the subsidiary loan repayable by EEPCO shall be the equivalent in Ethiopian Birr of the value of the currency or currencies withdrawn from the Credit Account in respect of the above mentioned categories, in determined as of the case date, or respective dates of Sub- loansrepayment; and
(iii) interest shall be charged on the outstanding balance of the subsidiary loan at a rate of six per cent (6%) per annum.
(de) The Borrower shall exercise and cause BM to exercise their respective its rights under the Subsidiary Administration Agreement, Loan Agreement in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit Credit, and, except as the Association shall otherwise agree, the Borrower shall not take assign, amend, abrogate or concur in any action which should have waive the effect of assigning, amending, abrogating or waiving the said Subsidiary Loan Agreement or any provisions provision thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this Agreement.
Section 3.03. The Borrower and the Association hereby agree that the obligations set forth in sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Parts of the Project to be implemented by EEPCO shall be carried out by EEPCO, pursuant to Section 2.03 of the Project Agreement.
Section 3.04. For the purposes of Section 9.06 of the General Conditions and without limitation thereto, the Borrower shall:
(a) not later than April 30prepare, 1991on the basis of guidelines acceptable to the Association, and furnish to the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
six (i6) carry out months after the Closing Date or such later date as may be agreed for this purpose between the Borrower and complete, under terms of reference satisfactory to the Association, a plan for the studies referred to in Part B.4 (a) future operation of the Project; and
(iib) submit to afford the Association the recommendations of said studies;
(c) not later than June 30, 1992 a reasonable opportunity to exchange views with the Association Borrower on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action programplan.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Development Credit Agreement
Execution of the Project. (a) The Borrower Each of the Project Provinces declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(i) Parts A.1 out its Respective Part of the Project with due diligence and A.2 efficiency and in conformity with appropriate administrative, financial, sanitation, health, engineering and environmental practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for such Respective Part of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association Project Provinces shall otherwise agree, the Borrower each Project Province shall carry out its Respective Part of the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 1 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works works, and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 4 to this the Development Credit Agreement.
Section 3.032.03. The Borrower shall:Each Project Province shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions referred to in Section 1.01 of the Development Credit Agreement and Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions referred to in Section 1.01 of the Loan Agreement (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition) in respect of the Project Agreement and its Respective Part of the Project.
(a) not later than April 30Each Project Province shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with regard to the Association on an action program and a timetable for the implementation progress of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 its Respective Part of the BorrowerProject, dated February 13the performance of its obligations under this Agreement, 1975, as amended;and other matters relating to the purposes of the Credit.
(b) Each Project Province shall promptly thereafter, take all legal and administrative measures necessary inform the Association of any condition which interferes or threatens to implement the Plan; and
(c) not later than June 30, 1993, review jointly interfere with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion its Respective Part of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 accomplishment of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution purposes of the Project with Credit, or the performance by such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to Province of its obligations under this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower Section 2.01. FREE declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the GEF Trust Fund Grant Agreement, and, to this end, shall carry out:
(i) Parts A.1 out the Project with due diligence and A.2 efficiency and in conformity with appropriate technical and environmental standards, with due regard to the reduction of greenhouse gases, promoting energy efficiency pursuant to the provision of the ProjectUNFCC and the Kyoto Protocol, through BM;
(ii) Parts B.1; B.2; B.3and shall provide, B.4 (b) promptly as needed, the funds, facilities, services and B.5 of other resources required for the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except 2.02. Except as the Borrower and the Association Bank shall otherwise agree, the Borrower shall carry out procurement of goods and consultants’ services required for the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, be financed out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf GEF Trust Fund Grant shall be governed by the provisions of Schedule 3 of the Borrower, under a Subsidiary Administration Agreement Grant Agreement.
Section 2.03. FREE shall carry out or cause to be entered into between carried out, the Borrower and BM on terms and conditions which shall have been approved by the Association and obligations set forth in Schedule 4 Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to this Agreement; (iiinsurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 in respect of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower Section 2.04. FREE shall exercise and cause BM to exercise their respective rights duly perform all its obligations under the Subsidiary Administration Grant Agreement, in such manner . Except as to protect the interests of the Borrower Bank and the Association and to accomplish the purposes of the Credit and, except as the Association Recipient shall otherwise agree, the Borrower FREE shall not take or concur in any action which should would have the effect of assigning, amending, abrogating abrogating, assigning or waiving the said Subsidiary Grant Agreement or any provisions provision thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.022.05. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this Agreement.
Section 3.03. The Borrower shall:
(a) not later than April 30FREE shall, 1991, furnish to at the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) request of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30Bank, 1992 exchange views with the Association on said recommendations Bank and agree the Recipient with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) regard to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the Subsidiary Grant Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Associationgrant.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) Section 3.01. The Borrower declares its commitment to the objectives objective of the Project as set forth in Schedule 2 to this AgreementProject, and, to this end, shall shall:
(a) through SRA, carry outout the Project with the assistance of:
(i) FIFONAFE in respect of Parts A.1 A.3, B.2 (a) (i) and A.2 (ii), B.2 (b), B.3 and B.4 of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 the Financing Agency in respect of Part B.2 (ba) and B.5 (iii) of the Project, through MOF; and
(iii) Parts B.4 PA and RAN in respect of Part B.1 of the Project; all with due diligence and efficiency and in conformity with appropriate administrative, financial, engineering, technical and environmental practices, the Implementation Letter and the Approved POAs;
(ab) provide and cause to be provided promptly as needed, the funds, facilities, services and other resources required for the Project;
(c) through SRA, maintain during the implementation of the Project, through MIE.a Project coordination unit (PCU), with functions and responsibilities described in the Operational Manual;
(bd) Without limitation upon through SHCP and SRA, enter into a contract with NAFIN (XXXXXXX Contract), satisfactory to the provisions Bank, whereby:
(i) NAFIN agrees to act as financial agent of paragraph the Borrower with regard to the Loan, meaning that, inter alia, NAFIN agrees to represent the Borrower vis-à-vis the Bank for purposes of submitting Loan withdrawal applications to the Bank in form and substance sufficient to justify disbursement by the Bank to the Borrower of Loan proceeds;
(ii) SRA agrees to: (A) carry out all Parts of the Project; and (B) to cause FIFONAFE to assist in the carrying out of Parts A.3, B.2 (a) (i) and (ii), B.2 (b), B.3 and B.4 of the Project, all according to the terms of this Section Agreement; and
(iii) SRA and except as SHCP shall cooperate fully with NAFIN to ensure that NAFIN is able to comply with all of NAFIN’s obligations referred to in paragraph (d) (i) of this Section;
(e) through SRA, enter into an agreement, satisfactory to the Bank, with FIFONAFE (the FIFONAFE Agreement) such agreement to provide inter alia for:
(i) FIFONAFE’s obligation to assist in the carrying out of Parts A.3, B.2 (a) (i) and (ii), B.2 (b), B.3 and B.4 of the Project; evaluate, monitor and supervise the implementation of the Productive Subprojects financed by the Financing Agency with Complementary Subproject Financing, and enable the Borrower and to discharge all the Association shall otherwise agree, obligations assumed by the Borrower shall carry out in respect of such Parts of the Project Project, including those set forth in Articles III and IV of this Agreement; and
(ii) FIFONAFE’s obligation to enter into Land Transaction Subloan Agreements and Productive Subprojects Subloan Agreements with the JERs, substantially in accordance with the Implementation Program respective Model Form, such agreements to have terms and conditions satisfactory to the Bank and shall include inter alia the fiduciary, safeguard and other requirements set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and InvestmentsOperational Manual;
(Bf) definition of BM’s functions and responsibilities regarding through SRA or FIFONAFE, not later than six months after the Effective Date, enter into an agreement, satisfactory to the Bank, with the Financing Agency (the Financing Agency Agreement) whereby the Financing Agency will finance Productive Subprojects in accordance with the requirements for Complementary Subproject Financing set forth or referred to in the Operational Manual;
(g) through SRA or FIFONAFE, prior to the implementation of Parts A.1 and A.2 Part B.1 of the Project enter into an agreement or make other arrangements, satisfactory to the Bank, with PA to set forth the terms of PA’s cooperation in the implementation of Part B.1 of the Project;
(Ch) through SRA not later than six months after the obligation of BM to Effective Date, enter into Sub-loan Agreements an agreement or Investment Agreements make other arrangements, satisfactory to the Bank, with BEs CDI, to set forth CDI’s obligations to cooperate in the implementation of the IPDP;
(i) through SRA, enter into a grant agreement with each JER carrying out a Demonstration Subproject, Subproject Preparation TA Activity, and Subproject Implementation TA Activity, or cause the JER to sign other legal instruments for such purpose, under terms and conditions which shall have been approved by substantially similar to those of the Association; and
respective Model Form contained in the Operational Manual (D) the Borrower shall carryDemonstration Subproject Grant Agreement, the Subproject Preparation XX Xxxxx Agreement, and the Subproject Implementation XX Xxxxx Agreement), such agreements or legal instrument to provide for the obligation of the JER:
(i) to carry out the commercial and foreign exchange risks, Subproject as provided in the case of InvestmentsOperational Manual; and
(ii) to comply, when applicable, with the foreign exchange risk, in environmental and social requirements applicable to the case of Sub- loans.Subproject; and
(di) The Borrower shall exercise its rights and cause BM to carry out its obligations under the XXXXXXX Contract, and through SRA exercise their respective its rights under the Subsidiary Administration FIFONAFE Agreement, the PA Cooperation Agreement, the CDI Agreement, the Financing Agency Agreement and each of the Demonstration Subproject Grant Agreements, Subproject Preparation XX Xxxxx Agreements and Subproject Implementation XX Xxxxx Agreements, and cause FIFONAFE to exercise its rights and carry out its obligations under the FIFONAFE Agreement, and each of the Land Transaction Subloan Agreements and Productive Subproject Subloan Agreements, in such a manner as to protect the interests of the Borrower Bank and the Association Borrower and to accomplish the purposes of the Credit and, Loan;
(ii) except as the Association shall Bank may otherwise agree, not amend or fail to enforce any provision of the Borrower XXXXXXX Contract, the FIFONAFE Agreement, the PA Cooperation Agreement, the CDI Agreement, the Financing Agency Agreement and any of the Demonstration Subproject Grant Agreements, Subproject Preparation XX Xxxxx Agreements and Subproject Implementation XX Xxxxx Agreements, and cause FIFONAFE not to amend or fail to enforce any provision of the FIFONAFE Agreement, and each of the Land Transaction Subloan Agreements and Productive Subproject Subloan Agreements; and
(iii) in case of any conflict between the terms of: (A) the XXXXXXX Contract, the FIFONAFE Agreement, the PA Cooperation Agreement, the Financing Agency Agreement and any of the Demonstration Subproject Grant Agreements, Subproject Preparation XX Xxxxx Agreements, Subproject Implementation XX Xxxxx Agreements, Land Transactions Subloan Agreements, Productive Subproject Subloan Agreements and Productive Subproject Grant Agreements; and (B) those of this Agreement, the terms of this Agreement shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereofprevail.
(ea) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works works, non-consultants’ services and consultants’ ' services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this Agreement, as said provisions may be further elaborated in the Procurement Plan.
(b) The Borrower shall, through SRA, update the Procurement Plan in accordance with guidelines acceptable to the Bank, and furnish such update to the Bank not later than 12 months after the date of the preceding Procurement plan, for the Bank’s approval.
Section 3.03. The Borrower shall, through SRA:
(a) not later than February 28, 2006, propose to SHCP revisions needed for the Operation Rules in order:
(i) to ensure the participation of indigenous peoples and respect the customary laws of such indigenous peoples in the implementation of the Project; and
(ii) for consistency with the Environmental Management Plan, Pest Management Plan and the procedures in the Operational Manual applicable to forest harvesting under Productive Subprojects; and
(b) in its further revisions of the Operation Rules, take into account any changes that might be needed:
(i) to meet the indicators set forth in the Implementation Letter; and
(ii) to incorporate best practices and lessons learnt including those relating to debt/equity ratios for Productive Subproject Subloans, Complementary Subproject Financing and Land Transaction Subloans, contributions of JERs, and investment ceilings for Productive Subprojects and Land Transactions.
(a) The Borrower shall through SRA carry out, and cause to be carried out, the Project in accordance with the Operational Manual, satisfactory to the Bank, which manual includes, inter alia:
(i) the procedures for the carrying out, monitoring and evaluation of the Project (including the procurement, financial management and disbursement requirements thereof);
(ii) (A) the Operation Rules including, inter alia, the criteria for the approval, implementation and monitoring of Subprojects and Land Transactions, and onlending terms; and (B) the social and environmental requirements for Subprojects which shall be consistent with the documents referred to in (iv) below;
(iii) a model contract each for implementation of Demonstration Subprojects, Productive Subprojects, and Subproject Preparation TA Activities, Subproject Implementation TA Activities and Land Transactions;
(iv) the IPDP, Environmental Management Plan, Pest Management Plan and the procedures for approval and implementation of forest harvesting activities; and
(v) the organization of the PCU.
(b) In case of any conflict between the terms of the Operational Manual and those of this Agreement, the terms of this Agreement shall prevail.
Section 3.05. The Borrower shall, through SRA, during the execution of the Project:
(a) maintain, and cause FIFONAFE in respect of Parts A.3, B.2 (a) (i) and (ii), B.2 (b), B.3 and B.4 of the Project to maintain, policies and procedures adequate to enable it to monitor and evaluate on an ongoing basis, and in accordance with the indicators set forth in the Implementation Letter, the carrying out of their respective Parts of the Project, and the achievement of its objective;
(b) furnish, and cause FIFONAFE in respect of Parts A.3, B.2 (a) (i) and (ii), B.2 (b), B.3 and B.4 of the Project to furnish, to the Bank, not later than April 30 and October 31 of each year, commencing April 30, 2006, a progress report on the execution of the Project during the calendar semester period immediately preceding the date of each such report, said report to be of such scope and detail as the Bank may reasonably request and to include the results of the monitoring and evaluation activities performed pursuant to paragraph (a) of this Section;
(c) carry out, jointly with the Bank and FIFONAFE not later than May 31 and November 30 of each year, commencing May 31, 2006 reviews of the progress of the Project and the attainment of Project objective on the basis of the reports referred to in paragraph (b) of this Section; and
(d) after each such review, take all measures required to ensure the efficient completion of the Project and the achievement of its objective, based on the conclusions and recommendations of the said reports and reviews, and the Bank’s views on the matter.
Section 3.06. The Borrower shall:
(a) not later than April 30by November 30 of each year during Project implementation, 1991through SRA prepare, and cause FIFONAFE to prepare, and furnish to the Association acceptable terms Bank, for comments, the proposed preliminary operating plan and budget, satisfactory to the Bank, detailing the Project activities proposed to be carried out during the next succeeding year and the respective sources of reference to carry out the studies referred to in Part B.4 (a);funding therefore; and
(b) not later than December 31March 31 of each year furnish to the Bank the final operating plan for such year (Approved POA).
Section 3.07. The Borrower shall through SRA, 1991carry out, and cause CDI to carry out, the IPDP in accordance with its terms.
Section 3.08. For the purposes of Section 9.07 of the General Conditions and without limitation thereto, the Borrower shall:
(ia) carry out and completethrough SRA, under terms prepare, on the basis of reference satisfactory guidelines acceptable to the AssociationBank, and furnish to the studies referred to in Part B.4 Bank not later than six (a6) months after the Closing Date or such later date as may be agreed for this purpose between the Borrower and the Bank, a plan for the future operation of the Project; and
(iib) submit afford the Bank a reasonable opportunity to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association Borrower on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action programplan.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this end, shall carry out:
(i) Parts A.1 out the Project through MHCP and A.2 the UTAP, with the assistance of the ProjectImplementing Entities and the policy and technical guidance of CSI and CTO, through BM;
(ii) Parts B.1; B.2; B.3all with due diligence and efficiency and in conformity with appropriate financial, B.4 (b) administrative, technical, environmental, social, cultural, and B.5 of legal practices, and shall provide, promptly as needed, the funds, facilities, services and other resources required for the Project, through MOF; and
(iii) Parts B.4 . No clause of this Agreement shall be construed so as to limit the provisions of this Section 3.01 (a) of the Project, through MIE).
(b) Without limitation upon The Borrower, through MHCP, shall enter into agreements under terms and conditions satisfactory to the provisions Association, with: (i) the Supreme Court, for the execution of paragraph Parts B.2, C and F.1 of the Project, and all Parts of the Project where the Registry is involved; (ii) INETER, for the execution of all Parts of the Project; (iii) RAAN and RAAS, whereby RAAN and RAAS shall agree to participate in the execution of Parts A and E of the Project, as detailed in the Operational Manual; and (iv) INIFOM, for the execution of Parts B.4, B.6, and C.1 of the Project. Unless agreed between the Borrower and the Association, the Borrower shall not amend or fail to enforce any of the agreements referred to in (i) through (iv) above.
(c) The Borrower shall cause MHCP to make arrangements - under terms and conditions satisfactory to the Association - with MAGFOR, for the execution of Parts A1, B1 and F.4 of the Project, and XXXXXX, for the execution of Part D of the Project, setting forth their respective responsibilities as Implementing Entities.
(d) The Borrower shall maintain within MAGFOR the general directorate of land and agrarian reform (including its role for policy formulation), as foreseen in Section 4, Chapter 7 of Decree 71-98 and furnish it with resources to carry out its mandate under said decree (in accordance with Article 24(c) of Law 290).
(e) The Borrower shall open and thereafter maintain an account in a commercial bank, until completion of the Project, under terms and conditions satisfactory to the Association, for purposes of managing the counterpart funds required for the Project. The Borrower shall by no later than February 1, May 1, August 1, and November 1 of each year, deposit in such account the counterpart funds required for the implementation of the Project in the following three months.
(a) The Borrower shall ensure that the CSI, CTO, UTAP, UTAP-Rs and UTOs have a structure, functions and members satisfactory to the Association.
(b) The Borrower, through UTAP, shall establish: (a) a regional UTAP (UTAP-R) in each of this Section RAAN and except RAAS; and (b) a technical operating unit (UTO) in each of the departments of Estelí, Madriz and Chinandega, and in other departments of the Borrower as it may be agreed between the Borrower and the Association from time to time. The Borrower shall ensure that each UTAP-R and each UTO be staffed with personnel in quantity and with qualifications satisfactory to the Association at least two months before the beginning of Project activities in the relevant region (RAAN or RAAS) or department.
(a) Except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out out: (i) the Project in accordance with the Operational Manual and the Project Implementation Program set forth Plan; and (ii) Part E.3 (d) of the Project in Schedule 6 accordance with the SOM, all satisfactory to the Association and not to be modified unless with the agreement by the Association. The Borrower shall update and improve the Operational Manual, the SOM and the Project Implementation Plan in accordance with the objectives and performance of the Project. In case of disagreement between the provisions of the Operational Manual, the SOM or the Project Implementation Plan and those of this Agreement, the provisions of this Agreement shall prevail.
(ib) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which Operational Manual shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall includecontain, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial procedures, methodology, principles, technical definitions, and foreign exchange risks, in implementation arrangements for: (A) Land Regularization Services (under Part C of the case Project); and (B) demarcation of InvestmentsProtected Areas (under Part D of the Project); and
(ii) the foreign exchange riskstrategies for addressing, in a culturally appropriate manner, indigenous peoples concerns in the case implementation of Sub- loansPart E of the Project, including, inter alia, the list of territories and communities where the activities referred to in Part E.3 of the Project shall take place, and the procedures, methodology, technical definitions and implementation arrangements for the carrying out of such Part of the Project.
(c) The Subproject Operational Manual (SOM) shall contain, inter alia, the criteria and procedures for the selection of indigenous communities eligible for Subprojects and for the eligibility and implementation of Subprojects, a draft grant agreement for Subprojects, and the procurement requirements, environmental and sustainable criteria and procedures, and rules and procedures for a system of checks and balances, including penalties and quality control and supervision measures for the execution of Part E.3 (d) of the Project.
(d) The Project Implementation Plan shall contain, inter alia, a detailed description of the Project components, activities and costs, the Project financial management and administrative procedures, and the responsibilities of the Implementing Entities and UTAP.
Section 3.04. The Borrower, through the applicable UTAP-R, shall enter into grant agreements - in terms and conditions satisfactory to the Association and substantially in the form of the draft grant agreement to be included in the SOM - with RAAN or RAAS (as the case may be) and Indigenous Organizations, Associations and Communities for the implementation of Subprojects. The Borrower shall exercise and cause BM to exercise their respective its rights under the Subsidiary Administration Agreement, said grant agreements in such a manner as to protect the interests of the Borrower and the Association Association, and to accomplish the purposes of the Credit andCredit, except as the Association shall otherwise agree, the Borrower and shall not take amend or concur in any action which should have fail to enforce its rights under such grant agreements without the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A consent of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this AgreementAssociation.
Section 3.023.05. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this Agreement.
Section 3.033.06. The Borrower, through the Intendance of Property of the MHCP, shall grant priority to the resolution of land claims in to the departments of Estelí, Madriz and Chinandega.
Section 3.07. The Borrower shall: (a) not later than March 31, 2003, submit to the National Assembly a cadastre law - satisfactory to the Association - providing, inter alia, for the admissibility of parcel boundaries recorded by INETER as legal boundaries and the integration of Cadastre and Registry data; and (b) not later than one month after the Effective Date, adopt simplified procedures - satisfactory to the Association - for land titling under Part C.2 (a) (i) of the Project.
Section 3.08. The Borrower shall: (a) carry out Parts C, D and E of the Project in accordance with: (i) the process framework, described in the Borrower’s letter to the Association, dated April 18, 2002, for mitigating potential livelihood impacts resulting from the Project execution; and (ii) the indigenous peoples development strategy and action plan described in the Borrower’s letter to the Association, dated April 18, 2002; and (b) implement the Indigenous Peoples Policy Process Framework in accordance with the terms thereof.
Section 3.09. The Borrower shall refrain from: (a) granting or considering any claims for lands within or adjacent to Protected Areas, unless: (i) said lands have been physically demarcated in a manner satisfactory to the Association; (ii) the Protected Area has been classified and land uses have been defined; and (iii) the corresponding management plan has been submitted to, and found satisfactory by, the Association; and (b) regularizing any private land titles or claims within or adjacent to new officially proposed Protected Areas, unless technical studies of such areas - acceptable to the Association - have been completed and the Borrower has reached a decision on the status of such proposed Protected Areas.
Section 3.10. The Borrower shall not issue land titles to private parties in the Selected Indigenous Communities until the activities under Parts E.3 (b) and (c) and E.4 of the Project have been carried out.
Section 3.11. The Borrower shall: (a) prepare by not later than December 10 of each year throughout the course of Project implementation, starting on December 10, 2002, a plan - satisfactory to the Association - setting forth the annual work program for the implementation of the Project during the following calendar year; and (b) thereafter carry out said plan in accordance with its terms.
Section 3.12. The Borrower shall, in a manner satisfactory to the Association, implement, starting not later than December 31, 2002, an organizational development plan for the improvement of the structure, procedures and delivery of services of the Implementing Entities.
Section 3.13. The Borrower shall:
(a) not later than April 30maintain policies and procedures adequate to enable it to monitor and evaluate on an ongoing basis, 1991, furnish in accordance with the indicators set forth in the letter from the Borrower to the Association acceptable terms Association, dated April 18, 2002, the carrying out of reference to carry out the studies referred to in Part B.4 (a)Project and the achievement of the objectives thereof;
(b) not later than December 31, 1991:
(i) carry out and completeprepare, under terms of reference satisfactory to the Association, and furnish to the studies referred Association, on or about January 1 of each year commencing on January 1, 2003, a report integrating the results of the monitoring and evaluation activities performed pursuant to in Part B.4 paragraph (a) of this Section, on the Project; and
(ii) submit to progress achieved in the Association carrying out of the recommendations Project during the period preceding the date of said studiesreport and setting out the measures recommended to ensure the efficient carrying out of the Project and the achievement of the objectives thereof during the period following such date;
(c) not later than June 30, 1992 exchange views review with the Association Association, by February 1 of each year commencing on said recommendations and agree with February 1, 2003, or such later date as the Association on an action program shall request: (i) the report referred to in paragraph (b) of this Section; (ii) the progress in the discussion in the National Assembly of the draft law for the recognition and a timetable for titling of communal land rights of indigenous peoples; and (iii) the progress in the implementation of the Indigenous Peoples Policy Process Framework; and the Borrower shall, thereafter, take all measures required to ensure the efficient completion of the Project and the achievement of the objectives thereof, based on the conclusions and recommendations of the said recommendationsreport and the Association’s views on the matters set forth in (i), (ii) and (iii) above; and
(d) not later than furnish to the Association, on or about March 3031, 19932003, carry out said action programa Project monitoring and evaluation baseline satisfactory to the Association.
Section 3.043.14. The For the purposes of Section 9.06 of the General Conditions and without limitation thereto, the Borrower shall:
(a) prepare, on the basis of guidelines acceptable to the Association, and furnish to the Association not later than December 31, 1990, prepare six (6) months after the Closing Date or such later date as may be agreed for this purpose between the Borrower and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing a plan designed to ensure the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion continued achievement of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project ’s objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement afford the recommendations of such reviews in accordance Association a reasonable opportunity to exchange views with an action plan and timetable as agreed between the Borrower and the Associationon said plan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Development Credit Agreement
Execution of the Project. (a) The Borrower Section 2.01. Olinda declares its commitment to the objectives objective of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall shall, through its Secretariats of Planning, Transport and Environment (SEPLAMA), and Public Works and Services, carry out:
out the Subprojects in UEs 07 (iO), 12 (O), 13 (O) Parts A.1 and A.2 15 (O) under Part C of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 engineering design services in Part D (a) of the ProjectProject for the Subprojects under its responsibility, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out technical assistance in Part E of the Project in accordance with respect of its Project activities (the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shallOlinda Component), out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between assist the Borrower and BM on terms and conditions which shall have been approved by in the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation execution of Parts A.1 D (b), (c) and A.2 (g) of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements , all with BEs under terms due diligence and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial efficiency and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with appropriate administrative, financial, environmental and urbanization practices, and shall provide, promptly as needed, the terms funds, facilities, services and conditions set forth in Schedule 4 to this Agreementother resources required for the Olinda Component.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project Olinda Component and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this the Loan Agreement.
Section 3.032.03. The Borrower Olinda shall carry out the obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Olinda Component.
Section 2.04. Olinda shall, not later than the initiation of any bidding procedure for works under the Olinda Component, employ, as provided in Section II of Schedule 4 to this Agreement, a consulting firm to assist Xxxxxx, during the execution of the Olinda Component, in the management and implementation of the Olinda Component.
Section 2.05. Olinda shall comply with its obligations under the Subsidiary Agreement, and, except as the Bank shall otherwise agree, shall not assign or amend the Subsidiary Agreement.
Section 2.06. Without limitation or restriction to the provisions of Section 2.01 of this Agreement, Xxxxxx shall carry out the Olinda Component, as applicable, in accordance with the provisions of the Operational Manual, and any population resettlement action plan and environmental management plan that may be approved by the Bank pursuant to Section 2.07 of this Agreement. In case of any conflict between the provisions of the Operational Manual and those of this Agreement or the Loan Agreement, the terms of such Agreements shall prevail.
Section 2.07. Prior to initiating any bidding procedure for works under any Subproject in Part C of the Project, Olinda shall furnish to the Bank, for its review and approval:
(a) the engineering design for such Subproject;
(b) the results of the screening for potential impacts of such Subproject on the environment, and, if applicable, an environmental management plan to mitigate such environmental impacts; and
(c) whenever such Subproject shall require resettlement of population, the corresponding resettlement action plan, such plan to be prepared in accordance with the Resettlement Framework.
Section 2.08. Olinda shall:
(a) not later than April 30, 1991, furnish to the Association acceptable terms Borrower, in a timely manner, all the information required on the part of reference Olinda to carry out enable the studies referred Borrower to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views comply with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation provisions of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:Sections 3.10
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 3.11 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Loan Agreement; and
(b) promptly thereafter, implement participate in the recommendations review referred to in Section 3.10 (b) of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationLoan Agreement.
Section 3.062.09. The Xxxxxx shall promptly inform the Bank and the Borrower shall maintain ERTU and IWG during of any condition which interferes or threatens to interfere with the execution progress of the Project with such responsibilitiesOlinda Component, powersthe accomplishment of the objectives of the Project, facilities and staff whose experience and qualifications are satisfactory to or the Association, as are specified in Schedule 6 to performance by Xxxxxx of its obligations under this Agreement.
Appears in 1 contract
Samples: Olinda Project Agreement
Execution of the Project. (a) The Borrower ANEP declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall carry out:
(i) Parts A.1 out the Project with due diligence and A.2 of efficiency and in conformity with appropriate administrative, financial, educational, engineering and environmental practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon to the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agreeabove, the Borrower ANEP shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 provisions of a general operational manual satisfactory to this Agreement.
(i) The Borrower shallthe Bank, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
: (i) a Project implementation plan including a procurement plan for the commercial entire Project and foreign exchange risks, in the case of InvestmentsProject’s physical and financial timeline; and
and (ii) the foreign exchange risk, granting of capacity to the PCU coordinator to approve expenditures of up to $150,000 equivalent included in the case of Sub- loanscorresponding annual operating plan approved by CODICEN.
(dc) The Borrower Without limitation to the provisions of paragraphs (a) and (b) above, ANEP shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under carry out Part A B.2 of the Project will be made in accordance with the terms provisions of a PME operational manual satisfactory to the Bank, which shall include, inter alia: (i) requirements and conditions set forth procedures for preparation of school development programs; (ii) composition of a board that will select education improvement projects; and (iii) criteria and procedures for the selection of PMEs to be financed under the Project (in addition to those stated in Schedule 4 2 to this Agreement).
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 1 to this Agreement.
Section 3.032.03. The Borrower shall:
(a) not later than April 30, 1991, furnish to the Association acceptable terms of reference to ANEP shall carry out the studies referred to obligations set forth in Part B.4 (a);
(b) not later than December 31Sections 9.04, 1991:
(i) carry out 9.05, 9.06, 9.07, 9.08 and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) 9.09 of the Project; and
General Conditions (iirelating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution respect of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower YRWHDC declares its commitment to the objectives of the Project as set forth in Schedule 2 1 to this the Loan Agreement, and, to this end, shall carry out:
(i) out Parts A.1 A,B,C and A.2 D.1 of the Project with due diligence and efficiency and in conformity with appropriate administrative, financial, engineering and public utility and environmental practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for Parts A,B,C and D.1 of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Bank and the Association YRWHDC shall otherwise agree, the Borrower YRWHDC shall carry out Parts A,B,C and D.1 of the Project in accordance with the Implementation Program set forth in Schedule 6 2 to this Agreement.
(i) The Borrower shall, out Agreement and so as to facilitate implementation of the proceeds provisions of Sections 3.04, 3.05 and 3.06 of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Loan Agreement.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for Parts A,B,C and D.1 of the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 1 to this Agreement.
Section 3.032.03. The Borrower shall:YRWHDC shall carry out the obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement and Parts A, B, C and D.1 of the Project.
Section 2.04. YRWHDC shall duly perform all its obligations under the Subsidiary Loan Agreement. Except as the Bank shall otherwise agree, YRWHDC shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Subsidiary Loan Agreement or any provision thereof.
Section 2.05. (a) not later than April 30YRWHDC shall, 1991, furnish to at the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) request of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30Bank, 1992 exchange views with the Association on said recommendations Bank with regard to the progress of Parts A, B, C and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 D.1 of the Borrowerproject, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal the performance of its obligations under this Agreement and administrative measures necessary to implement under the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991Subsidiary Loan Agreement, and not later than June 30 of each year thereafter until other matters relating to the completion purposes of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationLoan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this end, shall carry outshall:
(i) through MOH carry out Parts A.1 A and A.2 C of the Project, through BM;
Project (ii) Parts B.1; B.2; B.3, B.4 other than C.1 (b) thereof), with the assistance of: (i) Implementation Entities in respect of Parts A.1 (j), A.2 (j) and B.5 of the Project, through MOF; and
A.3 (iii) Parts B.4 (af) of the Project, through MIEand (ii) Eligible States and Eligible Municipalities in respect of Part A.4 of the Project, and
(ii) under the terms of the FUNASA Agreement, cause FUNASA to carry out Parts B and C.1 (b) of the Project, with the assistance of: (i) Indigenous Communities in respect of Part B.3 of the Project, and (ii) Eligible States, Eligible Municipalities and OSCs in respect of Part B.4 of the Project, all with due diligence and efficiency and in conformity with appropriate health, economic, technical, administrative, financial, social and environmental practices (including the Environmental Management Actions) and shall provide and cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project.
(b) Without limitation upon The Borrower shall: through MOH establish and thereafter maintain, during the provisions implementation of paragraph the Project, a coordination unit in SVS (a) the SVS PCU); and cause FUNASA to establish and thereafter maintain, during the implementation of this Section the Project, a coordination unit (the FUNASA PCU), both with functions and except as responsibilities satisfactory to the Borrower Bank, at all times headed by a Project coordinator and assisted by staff in adequate numbers, all with qualifications and experience acceptable to the Association shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this AgreementBank.
(ic) The Borrower shall, through MOH, enter into an agreement (Termo de Adesāo) with each Eligible State and Eligible Municipality carrying out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, Surveillance Subprojects under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by satisfactory to the Association and set forth Bank, substantially in Schedule 4 to this accordance with the terms of the Model Surveillance Subproject Implementation Agreement; (ii) the Subsidiary Administration Agreement shall include, setting forth, inter alia, in respect of each Surveillance Subproject: the following provisionsEligible State’s and Eligible Municipality’s obligation:
(A) to carry out the Surveillance Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investmentsto meet the performance benchmarks set forth in the Surveillance Development Plan (PLANVIGI);
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.02. Except as the Association shall otherwise agree, procurement of procure the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this Agreement.
Section 3.03. The Borrower shallin accordance with:
(aI) not later than April 30, 1991, furnish to the Association acceptable terms requirements of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(bII) promptly thereafterthe contracting procedures applicable to the list of all goods, implement works and services certified by MOH, including all the recommendations ICB Goods and QCBS Consultants (which list shall form part of such reviews the Surveillance Subproject Implementation Agreement) and any amendments thereof approved as per the requirements of the Operational Manual;
(C) to keep records and accounts for the expenditures financed under the Surveillance Subproject;
(D) to utilize the proceeds of the Surveillance Subproject Transfers and provide information to MOH on the use thereof in accordance with an action plan the procedures set forth in the Operational Manual; and
(E) to enable the Bank to review the Eligible State’s and timetable Eligible Municipality’s accounts and other information as agreed between the Borrower Bank shall reasonably request in respect of the Surveillance Subproject and the Association.
Section 3.06. The Borrower shall maintain ERTU Epidemiology and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory Disease Control Program as they relate to the Association, as are specified in Schedule 6 to this Agreement.implementation of such Subprojects;
Appears in 1 contract
Samples: Loan Agreement
Execution of the Project. (a) The Borrower FID declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(i) Parts A.1 out the Project with due diligence and A.2 of efficiency and in conformity with appropriate administrative, financial, engineering and environmental practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association FID shall otherwise agree, the Borrower FID shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 2 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 1 to this Agreement.
Section 3.032.03. The FID shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement.
Section 2.04. FID shall duly perform all its obligations under the Convention and the Procedures’ Manual. Except as the Borrower shall:and the Association shall otherwise agree, FID shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Convention or the Procedures’ Manual, or any provision thereof.
Section 2.05. (a) not later than April 30FID shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with regard to the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Associationperformance of its obligations under this Agreement, the following:
(i) progress achieved in Project implementation Convention and meeting Project objectivesthe Procedures’ Manual, including interest rates applicable and other matters relating to Sub-loans under Part A.1 the purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationCredit.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this end, shall carry out:
(i) Parts A.1 and A.2 of out the Project, through BM;
(ii) Parts B.1; B.2; B.3the corresponding Implementing Entities, B.4 (b) and B.5 with the assistance of the ProjectPCU, through MOF; and
(iii) Parts B.4 (a) of as set forth in Schedule 5 to this Agreement, pursuant to the Implementation Agreements and the Administrative Arrangement, as the case may be, all with due diligence and efficiency and in conformity with appropriate financial, administrative, legal, environmental, technical, cultural and land adjudication and registration practices, and shall provide, promptly as needed, the funds, facilities, services and other resources required for the Project, through MIE.
(b) Without limitation upon to the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agreeSection, the Borrower shall carry out the Project, or shall cause Part B and C of the Project to be carried out, in accordance with an operational manual (the Implementation Program set forth in Schedule 6 Operational Manual) satisfactory to this Agreementthe Bank, said manual to provide key instruments for Land Regularization Activities, demarcation activities and the execution and coordination of Part B and C of the Project.
(ic) The Borrower shall, out In case of any conflict between the terms of the proceeds Operational Manual and those of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) , the Subsidiary Administration terms of this Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreementprevail.
Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and works, consultants’ and other services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this Agreement.
Section 3.03. The Borrower shall:
(a) not later than April 30enter into an agreement, 1991, furnish under terms and conditions satisfactory to the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991Bank with:
(i) carry out ANAM (the ANAM Implementation Agreement) setting forth their respective responsibilities in the implementation of Parts X.0, X.0, X.0, X.0, X.0, X.0, X.0, X.0, C.2 and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) C.3 of the Project; and
(ii) submit to RP (the Association RP Implementation Agreement) setting forth their respective responsibilities in the recommendations implementation xx Xxxxx X.0, X.0, X.0 X.0, X.0 and C.2 of said studies;the Project.
(cb) exercise its rights under the Implementation Agreements in such manner as to protect the interests of the Borrower and the Bank and to accomplish the purposes of the Loan, and except as the Bank shall otherwise agree, the Borrower shall not later than June 30assign, 1992 exchange views with amend, abrogate or waive the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action programImplementation Agreements or any provision thereof.
Section 3.04. The Borrower shallshall cause the PCU to enter into an inter-institutional administrative arrangement (the Administrative Arrangement) with:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
MIDA through DINRA; (b) promptly thereafterMEF, take all legal through DGCBP and administrative measures necessary to implement the PlanDPS; and
(c) MINGOJ, through DGL and DPI; and (d) MOP through IGNTG, setting forth their respective responsibilities in the implementation of the Project, and except as the Bank shall otherwise agree, such Arrangement shall not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Planbe amended or assigned.
Section 3.05. The Borrower shall:
(a) not later than June 30create and maintain, 1991, and not later than June 30 of each year thereafter until during the completion execution of the Project, review jointly with within MEF and under the Associationsupervision of CS, a project coordination unit (the following:
(iPCU) progress achieved in Project implementation responsible for the financial management, coordination, monitoring, and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 supervision of the Project, with a structure and functions satisfactory to the Bank, and staff (including a Project coordinator) with qualifications and experience satisfactory to the Bank;
(iib) Subproject eligibility criteria cause the PCU to create temporary decentralized units (UTOs) at the provincial level for the technical and onlending terms operational implementation and conditions referred supervision of the activities under Part B and C of the Project, with staff with qualifications and experience satisfactory to in Schedule 4 to this Agreementthe Bank; and
(bc) promptly thereaftercause the PCU to prepare, implement under terms of reference acceptable to the recommendations Bank, adopt, and update on a regular basis a manual for the implementation of such reviews financial and administrative procedures in accordance with an action plan and timetable as agreed between respect of the Borrower and the AssociationProject.
Section 3.06. The Without limitation to the provisions of Section 3.01 of this Agreement, the Borrower shall create and maintain ERTU and IWG during the execution of the Project with Project:
(a) a decision-making council (the CS) to assist the Borrower in the development of new policies regarding Land Administration Services, such responsibilities, powers, facilities council to have a structure and staff whose experience and qualifications are functions satisfactory to the AssociationBank, and to include among its members representatives of ANAM, MEF, MIDA, MINGOJ, MOP, and the RP;
(b) a operative technical committee (the CTO) to assist the Borrower in Project implementation, such committee to have a structure and functions satisfactory to the Bank, and to include among its members: the PCU coordinator and representatives of the Implementing Entities; and
(c) a civil society consultative council (the CC) as are specified a co-management mechanism to promote civil society’s participation in Schedule 6 to this AgreementLand Administration Services, in accordance with Part A.3 of the Project.
Appears in 1 contract
Samples: Loan Agreement
Execution of the Project. (a) The Borrower GHA declares its commitment to the objectives objec- tives of the Project as set forth in Schedule 2 to this Agreement, the Development Credit Agreement and, to this end, shall carry out:
out Parts A and E (i) Parts A.1 and A.2 of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a1) of the Project with due diligence and efficiency and in conformity with appropriate administrative, financial, engineering and public works and employment practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through MIE.
(b) Without limitation upon GHA shall in consultation with the provisions respective local councils of paragraph the DRUs: (ai) of this Section establish and except as the Borrower thereafter maintain in a form and with functions satisfactory to the Association shall otherwise agreea District Roads Unit for Tema (TDRU); and (ii) continue to maintain in a form and with functions satisfactory to the Association the District Roads Units established for Accra, Tema, Kumasi and Sekondi/Takoradi. Further provisions relating to the Borrower shall carry District Roads Units (DRUs) and GHA are set out in the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement, said Schedule being subject to modification by agree- ment between GHA and the Association.
(ic) The Borrower shallDeposits into, and payments out of, the Special Account to be maintained for GHA pursuant to Section 2.02 (b) of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Development Credit Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in provisions of Schedule 4 3 to this the Development Credit Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 5 to this the Development Credit Agreement.
Section 3.032.03. The Borrower shall:
(a) not later than April 30, 1991, furnish to the Association acceptable terms of reference to GHA shall carry out the studies referred obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in Part B.4 respect of the GHA Project Agreement and Parts A and E (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a1) of the Project; and.
Section 2.04. (iia) submit to GHA shall, at the Association request of the recommendations of said studies;
(c) not later than June 30Associa- tion, 1992 exchange views with the Association on said recommendations with regard to the pro- xxxxx of Parts A and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
E (d1) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, performance of its obligations under this Agreement and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationCredit.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this end, without limitation or restriction upon any of its other obligations under this Agreement, the Borrower shall carry out:
(i) Parts A.1 cause CBTU to perform all its obligations set forth in the Project Agreement, shall take or cause to be taken all action, including the provision of funds, facilities, services and A.2 other resources, necessary or appropriate to enable CBTU to perform such obligations, and shall not take or permit to be taken any action which would prevent or interfere with the carrying out of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) Project as provided in this Agreement and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIEProject Agreement.
(b) Without limitation upon As and when required for the provisions timely execution of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agreeProject, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 make available to this Agreement.
(i) The Borrower shallCBTU, out of through annual budget allocations, the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to Loan and Investments in eligible BEs, the counterpart funds required on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests part of the Borrower and for the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this AgreementProject.
Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan, shall be governed by the provisions of Schedule 3 1 to this the Project Agreement.
Section 3.03. The Bank and the Borrower shall:
(a) not later than April 30hereby agree that the obligations set forth in Sections 9.04, 19919.05, furnish to the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 319.06, 1991:
(i) carry out 9.07, 9.08 and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) 9.09 of the Project; and
General Conditions (iirelating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) submit shall be carried out by METROFOR or CBTU, as the case may be, pursuant to Section 2.03 of the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action programProject Agreement.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement through its Ministry of Transportation shall participate in the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions reviews referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution 2.08 of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this AgreementProject, and, to this end, shall carry out:
, respectively: (i) Parts A.1 X, X, X.0, X.0, X.0, X.0, X.0, C.8.1, C.9, C.10, E and A.2 F of the Project, through BM;
the SSCU; (ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 Part C.6 of the Project, through the MOF; and
(iii) Parts B.4 (a) C.7 and C.8.2 of the Project, through MIEthe NBU; and (iv) Part D of the Project, through the MOE, all with due diligence and efficiency and in conformity with appropriate administrative, engineering, environmental, financial, fiscal, statistical and technical practices, and shall provide, promptly as needed, the funds, facilities, services and other resources required for the Project.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association Bank shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 5 to this Agreement.
(ic) The Borrower shall, out of shall make available to the NBU on a grant basis the proceeds of the Credit, make available Loan allocated from time to BM an amount equivalent time to thirty-one million nine hundred thousand Special Drawing Rights Categories (SDR 31,900,0001) for making Sub-loans (a) and (2) (a) set forth in paragraph 1 of Schedule 1 to and Investments in eligible BEs, on behalf of the Borrowerthis Agreement, under a Subsidiary Administration the Implementation and Grant Agreement to be entered into between the Ministry of Finance on behalf of the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs NBU under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loansBank.
(d) The Borrower Borrower, through MOF, shall exercise and cause BM to exercise their respective its rights under the Subsidiary Administration Agreement, Implementation and Grant Agreement in such manner as to protect the interests of the Borrower and the Association Bank and to accomplish the purposes of the Credit Loan, and, except as the Association Bank shall otherwise agree, the Borrower shall not take assign, amend, abrogate or concur in any action which should have waive the effect of assigning, amending, abrogating or waiving the said Implementation and Grant Agreement or any provisions provision thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.02. Except as the Association Bank shall otherwise agree, the procurement of the goods, works goods and technical services and the selection and employment of the consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this Agreement.
Section 3.03. The Borrower For the purposes of Section 9.07 of the General Conditions and without limitation thereto, the Borrower, through the PIU, shall:
(a) prepare, on the basis of guidelines acceptable to the Bank, and furnish to the Bank not later than April 30six (6) months after the Closing Date or such later date as may be agreed for this purpose between the Borrower and the Bank, 1991, furnish to a plan for the Association acceptable terms continued achievement of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) objectives of the Project; and
(iib) submit afford the Bank a reasonable opportunity to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association Borrower on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action programplan.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Execution of the Project. (a) The Borrower EPO declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall carry out:
(i) Parts A.1 operate and manage the facilities under Part A.2 of the ProjectProject and operate, through BM;
manage and maintain the equipment provided under Part A.6 (ii) Parts B.1; B.2; B.3thereof, B.4 (b) and B.5 of the Projectfrom time to time, through MOF; and
(iii) Parts B.4 (a) of the Projectpromptly as needed, through MIEmake all necessary repairs and renewals thereof, all in conformity with appropriate administrative, financial and engineering practices.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Bank and the Association EPO shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
EPO shall: (i) The Borrower shall, out assign appropriately qualified staff to be trained under the training program provided under Part B.1 of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to project; and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, implement said program in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreementa timely fashion.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services goods required for Part A.6 (ii) of the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this the Loan Agreement.
Section 3.032.03. The Borrower shall:
EPO shall carry out the obligations set forth in Sections 9.04, 9.05, 9.06, 9.07 (a) not later than April 30and (c), 1991and 9.08 of the General Conditions (relating to insurance, furnish to the Association acceptable terms use of reference to carry out the studies referred to goods and services, plans and schedules, records and reports, and maintenance, respectively) in respect of this Agreement and Part B.4 A.6 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (aii) of the Project; and.
Section 2.04. EPO shall duly perform all its obligations under the EPO Reimbursement Agreement. Except as the Bank and EPO shall otherwise agree, EPO shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the EPO Reimbursement Agreement or any provision thereof.
Section 2.05. (iia) submit to EPO shall, at the Association request of the recommendations of said studies;
(c) not later than June 30Bank, 1992 exchange views with the Association on said recommendations and agree Bank with regard to the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
carrying out Parts A.6 (aii) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion B.1 of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the EPO Reimbursement Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationLoan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Epo Project Agreement
Execution of the Project. (a) The Borrower Section 2.01. Each Company declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, the Development Credit Agreement and to this end, CWSC shall carry out:
out Parts A, D.1(a) and (i) Parts A.1 b), and A.2 E of the Project, through BM;
(ii) and CSC shall carry out Parts B.1; B.2; B.3B, B.4 (bD.1(c) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (ad) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section with due diligence and except efficiency and in conformity with appropriate administrative, financial, engineering and environmental practices, and shall provide, or cause to be provided, promptly as the Borrower and the Association shall otherwise agreeneeded, the Borrower shall funds, facilities, services and other resources required for each Company to carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of its respective Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 1 to this the Changchun Project Agreement.
Section 3.032.03. The Borrower shall:Each Company shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating respectively to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition) in respect of the Parts of the Project each Company shall carry out.
Section 2.04. Each Company shall duly perform all its obligations under its respective Subsidiary Loan Agreement. Except as the Association shall otherwise agree, each Company shall not amend, abrogate, assign or waive its respective Subsidiary Loan Agreement, or any provision thereof.
Section 2.05. (a) not later than April 30Each Company shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with regard to the Association on an action program and a timetable for progress of carrying out the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution Parts of the Project with such responsibilitiesfor which each Company is responsible, powers, facilities the performance of its obligations under this Agreement and staff whose experience and qualifications are satisfactory other matters relating to the Association, as are specified in Schedule 6 to this Agreementpurposes of the Credit.
Appears in 1 contract
Samples: CWSC and CSC Project Agreement
Execution of the Project. (a) The Borrower NEPA declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
out Parts A, B (i) Parts A.1 3), B (4), B (5), B (6), B (7), B (8) and A.2 C of the ProjectProject with due diligence and efficiency and in conformity with appropriate administrative, through BM;
(ii) Parts B.1; B.2; B.3financial, B.4 (b) engineering and B.5 of public utility practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association NEPA shall otherwise agree, the Borrower NEPA shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 1 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this the Development Credit Agreement.
Section 3.032.03. The Borrower NEPA shall:
(a) not later than April 30, 1991, furnish open and maintain an account (the "Project Account") in Naira in a commercial bank acceptable to the Association acceptable on terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference conditions satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary make an initial deposit into such account, in an amount equivalent to implement $2,000,000, to finance NEPA’s contribution to the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 costs of the Project;
(iic) Subproject eligibility criteria and onlending terms and conditions referred thereafter deposit into the Project Account, semi-annually, the amount required to in Schedule 4 replenish the Project Account up to this AgreementNEPA's contribution to the costs of the Project; and
(bd) promptly thereafter, implement use the recommendations funds in the Project Account exclusively to finance expenditures under the Project and not otherwise financed out of such reviews in accordance with an action plan and timetable as agreed between the Borrower and proceeds of the AssociationCredit.
Section 3.062.04. The Borrower (a) NEPA shall maintain ERTU carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and IWG during 9.08 of the execution General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project with such responsibilitiesAgreement and Parts A, powersB (3), facilities B (4), B (5), B (6), B (7), B (8) and staff whose experience and qualifications are satisfactory to C of the Association, as are specified in Schedule 6 to this AgreementProject.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower Section 2.01. Shanxi declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall carry outshall:
(ia) Parts A.1 carry out Part B of the Project with due diligence and A.2 efficiency and in conformity with appropriate administrative, economic, financial and technical practices and sound health, safety and environmental standards, and provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for Part B of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iiib) Parts B.4 (a) cause YRDPC to perform in accordance with the provisions of the ProjectYRDPC Project Agreement, through MIEall of the obligations of YRDPC therein set forth, take and cause to be taken all action, including the provision of funds, facilities, services and other resources, necessary or appropriate to enable YRDPC to perform such obligations, and not take or permit to be taken any action which would prevent or interfere with such performance.
(b) Section 2.02. Without limitation upon the provisions of paragraph (a) Section 2.01 of this Section Agreement and except as the Borrower Bank and the Association Shanxi shall otherwise agree, the Borrower Shanxi shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 2 to this Agreement.
Section 3.022.03. Except each contract for the employment of individual consultants estimated to cost the equivalent of $50,000 or more, thExcept as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ ' services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 1 to this Agreement.
Section 3.032.04. The Borrower shall:
(a) not later than April 30, 1991, furnish to the Association acceptable terms of reference to Shanxi shall carry out the studies referred obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of this Agreement and Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) B of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Shanxi Project Agreement
Execution of the Project. (a) The Borrower CMC declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall carry out:
(i) Parts A.1 out Part B.2 of the Project with due diligence and A.2 efficiency and in conformity with appropriate administrative, financial, engineering and steel industry practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for Part B.2 of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower CMC shall, for the purpose of carrying out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 Part B.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms , establish, and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risksthereafter maintain, in a manner satisfactory to the case of Investments; and
(ii) the foreign exchange riskBank, in the case of Sub- loans.
(d) The Borrower shall exercise a project management unit, including employing consultants, as and cause BM when appropriate, to exercise their respective rights under the Subsidiary Administration Agreement, in assist such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreementunit.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works goods and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this the Loan Agreement.
Section 3.032.03. The Borrower shall:CMC shall carry out the obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of this and Part B.2 of the Project.
Section 2.04. CMC shall duly perform all its obligations under the CMC Subsidiary Loan Agreement. Except as the Bank shall otherwise agree, CMC shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the CMC Subsidiary Loan Agreement or any provision thereof.
Section 2.05. (a) not later than April 30CMC shall, 1991, furnish to at the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) request of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30Bank, 1992 exchange views with the Association on said recommendations and agree Bank with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) regard to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, performance of its obligations under this Agreement and under the following:
(i) progress achieved in Project implementation CMC Subsidiary Loan Agreement and meeting Project objectives, including interest rates applicable other matters relating to Sub-loans under Part A.1 the purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationLoan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. Section 2.01.
(a) The Borrower Karnataka declares its commitment to the objectives objective of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(i) Parts A.1 out Part A of the Project with due diligence and A.2 efficiency and in conformity with appropriate administrative, financial and environmental practices, and technical and hydrological practices, standards and criteria, under the overall coordination of MOWR, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for Part A of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association Karnataka shall otherwise agree, the Borrower Karnataka shall carry out Part A of the Project in accordance with the Implementation Program set forth in the Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works and services required for the Project and to be financed out of the proceeds of the Credit, and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Dutch Grant, shall be governed by the provisions of Schedule 3 to this the Development Credit Agreement, as amended by the Agreement Amending the Development Credit Agreement.
Section 3.032.03. The Borrower Karnataka shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement and Part A of the Project.
Section 2.04. Without limitation upon the provisions of Article IX of the General Conditions, Karnataka shall:
(a) not later than April 30, 1991, prepare and furnish to the Association acceptable terms not later than six months after the Closing Date or such later date as may be agreed for this purpose between the Association and such Project State, a plan, of reference to carry out such scope and in such detail as the studies referred to in Association shall reasonably request, for the future operation of Part B.4 (a)A of the Project;
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to afford the Association the recommendations of said studies;
(c) not later than June 30, 1992 a reasonable opportunity to exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Planplan; and
(c) not later than June 30thereafter, 1993carry out said plan with due diligence and efficiency and in accordance with appropriate practices, review jointly with taking into account the Association’s comments thereon.
Section 2.05. (a) Karnataka shall, at the request of the Association, exchange views with the Association with regard to the progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion Part A of the Project, review jointly with the Association, performance of its obligations under this Agreement and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationCredit.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Execution of the Project. (a) The Borrower declares its Section 2.01. CNPC and SPA declare their commitment to the objectives of the Project as set forth in Schedule 2 1 to this the Loan Agreement, and, to this end, shall carry out:
(i) out Part E.2 and Parts A.1 B, C, D and A.2 E.1 respectively of the Project with due diligence and efficiency and in conformity with appropriate administrative, financial, engineering and environmental practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for Part E.2 and Parts B, C, D and E.1 respectively of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works goods and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this the Loan Agreement.
Section 3.032.03. The Borrower shall:CNPC and SPA shall carry out the obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement and Part E.2 and Parts B, C, D and E.1 respectively of the Project.
Section 2.04. CNPC and SPA shall duly perform all their obligations under their respective Subsidiary Loan Agreements. Except as the Bank shall otherwise agree, CNPC and SPA shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving their respective Subsidiary Loan Agreements or any provision thereof.
Section 2.05. (a) not later than April 30CNPC and SPA shall, 1991, furnish to at the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) request of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30Bank, 1992 exchange views with the Association on said recommendations Bank with regard to the progress of Part E.2 and agree with the Association on an action program Parts B, C, D and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion E.1 respectively of the Project, review jointly with the Associationperformance of their respective obligations under this Agreement and under their respective Subsidiary Loan Agreements, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationLoan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower FID declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, the Development Credit Agreement and, to this end, shall carry out:
(i) Parts out Part A.1 of the Project with due diligence and A.2 efficiency and in conformity with appropriate administrative, financial, engineering and public works practices, and shall cause to be provided, promptly as needed, the funds, facilities, services and other resources required for Part A.1 of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association FID shall otherwise agree, the Borrower FID shall carry out Part A.1 of the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out Manual of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this AgreementProcedures.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for Part A.1 of the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this the Development Credit Agreement.
Section 3.032.03. The Borrower shall:FID shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisi- tion, respectively) in respect of the Project Agreement and Part A.1 of the Project.
Section 2.04. FID shall duly perform all its obligations under the Convention and the Manual of Procedures. Except as the Association shall otherwise agree, FID shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Convention, the Manual of Procedures, or any provision thereof.
Section 2.05. (a) not later than April 30FID shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with regard to the Association on an action program and a timetable for the implementation progress of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria , the performance of its obligations under this Agreement and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement under the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower Convention and the Association.
Section 3.06. The Borrower shall maintain ERTU Manual of Procedures, and IWG during other matters relating to the execution purposes of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this AgreementCredit.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower FADC declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(i) Parts A.1 out the Project with due diligence and A.2 of efficiency and in conformity with appropriate administrative, financial, technical and environmental practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association FADC shall otherwise agree, the Borrower FADC shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 2 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 1 to this Agreement.
Section 3.032.03. The Borrower shall:FADC shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement.
Section 2.04. FADC shall duly perform all its obligations under the Subsidiary Agreement. Except as the Association shall otherwise agree, FADC shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Subsidiary Agreement or any provision thereof.
Section 2.05. (a) not later than April 30FADC shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with regard to the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Associationperformance of its obligations under this Agreement, the following:
(i) progress achieved in Project implementation Subsidiary Agreement, the Procedures Manual, the Accounting and meeting Project objectivesAdministrative Procedures Manual, including interest rates applicable the Environmental and Social Management Framework, the Resettlement Policy Framework, and other matters relating to Sub-loans under Part A.1 the purposes of the ProjectCredit;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, Agreement and, to this end, shall carry out:
(i) out Parts A.1 B, C, D and A.2 E of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) Project and B.5 Part A of the ProjectProject through CNRST, through MOF; and
(iii) Parts B.4 (a) of all with due diligence and efficiency and in conformity with appropriate administrative, financial, environmental, technical and agricultural practices, and shall provide, promptly as needed, the funds, facilities, services and other resources required for the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the Borrower shall cause CNRST to carry out Part A of the Project, and shall carry out Parts B, C, D, and E of the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.02. Without any limitation upon its obligations under Section 3.01 of this Agreement, the Borrower shall:
(a) open, and thereafter maintain until the completion of the Project, an account for Parts B, C, D and E of the Project, to be operated and maintained by XXXXX (the XXXXX and MRA Project Account), an account for Parts A.1 and A.3 of the Project, to be operated and maintained by INERA (the INERA Project Account), and an account for Part A.2 of the Project, to be operated and maintained by IRSAT (the IRSAT Project Account), all in a commercial bank acceptable to the Association and on terms and conditions acceptable to the Association;
(b) deposit an initial contribution of: (i) CFAF 100,000,000 (CFAF one hundred million) into the XXXXX and MRA Project Account, (ii) CFAF 55,000,000 (CFAF fifty-five million) into the INERA Project Account, and (iii) CFAF 6,000,000 (CFAF six million) into the IRSAT Project Account;
(c) thereafter, replenish any of said accounts at least on a semiannual basis, up to the amount of the initial contribution, or whenever its balance shall be less than the equivalent of CFAF 40,000,000 (CFAF forty million) for the XXXXX and MRA Project Account, CFAF 22,000,000 (CFAF twenty-two million) for the INERA Project Account and CFAF 3,000,000 (CFAF three million) for the IRSAT Project Account; and
(d) ensure that funds deposited into the Project Accounts in accordance with paragraphs (b) and (c) above shall be used exclusively to finance the Borrower’s share of expenditures under the Project other than those financed from the proceeds of the Credit.
Section 3.03. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ ' services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this Agreement.
Section 3.033.04. The For the purposes of Section 9.07 of the General Conditions and without limitation thereto, the Borrower shall:
(a) prepare, on the basis of guidelines acceptable to the Association and furnish to Association not later than April 30, 1991, furnish to six (6) months after the Association acceptable terms of reference to carry out Closing Date or such later date as may be agreed for this purpose between the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out Borrower and complete, under terms of reference satisfactory to the Association, a plan for the studies referred to in Part B.4 (a) continued achievement of the Project; and
(iib) submit to afford the Association the recommendations of said studies;
(c) not later than June 30, 1992 a reasonable opportunity to exchange views with the Association Borrower on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action programplan.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Development Credit Agreement
Execution of the Project. (a) The Borrower TELKOM declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall carry out:
(i) out Parts A.1 B and A.2 C of the Project with due diligence and efficiency and in conformity with appropriate administrative, financial, engineering and telecommunication practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for Parts B and C of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Bank and the Association TELKOM shall otherwise agree, the Borrower TELKOM shall carry out Parts B and C of the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 2 to this Agreement.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for Parts B and C of the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 1 to this Agreement.
Section 3.032.03. The Borrower shall:TELKOM shall carry out the obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement and Parts B and C of the Project.
Section 2.04. TELKOM shall duly perform all its obligations under the Subsidiary Loan Agreement. Except as the Bank shall otherwise agree, TELKOM shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Subsidiary Loan Agreement or any provision thereof.
Section 2.05. (a) not later than April 30TELKOM shall, 1991, furnish to at the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) request of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30Bank, 1992 exchange views with the Association on said recommendations Bank with regard to the progress of Parts B and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 C of the Borrowerproject, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal the performance of its obligations under this Agreement and administrative measures necessary to implement under the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991Subsidiary Loan Agreement, and not later than June 30 of each year thereafter until other matters relating to the completion purposes of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationLoan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower Section 2.01. CDR declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall carry out:
(i) out Parts A.1 A, B, C, D and A.2 F of the Project with due diligence and efficiency and in conformity with appropriate administrative, financial, engineering and environmental practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for Parts A, B, C, D and F of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for Parts A, B, C, D and F of the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of the Schedule 3 to this Agreement.
Section 3.032.03. The Borrower shall:CDR shall carry out the obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisi- tion, respectively) in respect of this Agreement and Parts A, B, C, D and F of the Project.
Section 2.04. CDR shall duly perform all its obligations under the CDR Subsidiary Agreement. Except as the Bank shall otherwise agree, CDR shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the CDR Subsidiary Agreement or any provision thereof.
Section 2.05. (a) not later than April 30CDR shall, 1991, furnish to at the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) request of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30Bank, 1992 exchange views with the Association on said recommendations Bank with regard to the progress of Parts A, B, C, D and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 F of the Borrowerproject, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal the performance of its obligations under this Agreement and administrative measures necessary to implement under the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991CDR Subsidiary Agreement, and not later than June 30 of each year thereafter until other matters relating to the completion purposes of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationLoan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: CDR Project Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, Agreement and, to this end, shall carry out:
(i) shall carry out Part B, and Parts A.1 C and A.2 D.3, of the Project through MJ and MFB, respectively, and cause PFIs and CASP to carry out, respectively, Part A, and Parts D.1 and D.2, of the Project, through BM;
(ii) shall ensure that the Project is carried out with due diligence and efficiency, and in conformity with appropriate technical, administrative and financial practices;
(iii) shall provide, promptly as needed, the funds, facilities, services and other resources required for Parts B.1B, C and D.3 of the Project; B.2; B.3and
(iv) shall take or cause to be taken all actions, B.4 (b) including the provision of funds, facilities, services and B.5 other resources, necessary or appropriate to enable PFIs and CASP to carry out their respective parts of the Project, through MOF; and
(iii) Parts B.4 (a) and shall not take or permit to be taken any action which would prevent or interfere with the carrying out of the Project, through MIEProject by PFIs and CASP.
(b) Without limitation upon the provisions of paragraph (a) of this Section Section, and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out Parts B, C and D.3 of the Project Project, and cause PFIs and CASP to carry out, respectively, Part A, and Parts D.1 and D.2, of the Project, all in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this Agreement.
Section 3.03. The Association and the Borrower shall:hereby agree that the obligations set forth in Sections 9.04. 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of Part A, and Parts D.1 and D.2, of the Project shall be carried out by PFIs and CASP, respectively.
(a) not later than April 30, 1991, furnish to the Association acceptable terms For purposes of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion A of the Project, review jointly the Borrower shall conclude one or more agreements (hereinafter referred to as Participating Agreements) with BIC, BDC and any other eligible Participating Financial Intermediary (hereinafter referred collectively to as PFIs), whereby it shall agree to on-lend to each such PFI an amount not exceeding the Association, amount of the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable Credit allocated to Sub-loans under Part A.1 A of the Project;
(ii) Subproject eligibility criteria and onlending , on the terms and conditions referred to set forth in Schedule 4 to this Agreement, and on such other terms and conditions as shall be acceptable to the Association, including the on-lending terms set forth below:
(i) an adjustable rate of interest, with an initial annual interest rate of 6.5 percent, which shall be reviewed from time to time to take into account the impact of inflation and other relevant factors on the cost of funds;
(ii) a repayment period corresponding to the sum total of repayment schedules applicable to individual sub-loans, which shall not in any case exceed fifteen years, including a grace period of five years; and
(iii) a requirement that the Borrower shall bear the foreign exchange risk of the transaction, with the credit risk being borne by the PFI.
(b) promptly thereafterFor purposes of Parts D.1 and D.2 of the Project, implement the recommendations Borrower shall conclude a grant agreement with CASP (hereinafter referred to as the CASP Grant Agreement), whereby it shall agree to transfer an amount not exceeding the amount of the Credit allocated to Parts D.1 and D.2 of the Project to CASP on a non-reimbursable basis, on the terms and conditions set forth in Schedule 4 to this Agreement, and on such reviews other terms and conditions as shall be acceptable to the Association.
(c) The Borrower shall exercise its rights under any Participating Agreement and the CASP Grant Agreement, in accordance with an action plan and timetable such manner as agreed between to protect the interests of the Borrower and the Association.
Section 3.06. The , and to accomplish the purposes of the Credit; and, except as the Association shall otherwise agree, the Borrower shall maintain ERTU and IWG during not assign, amend, abrogate or waive any Participating Agreement or the execution of the Project with such responsibilitiesCASP Grant Agreement, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreementor any provision thereof.
Appears in 1 contract
Samples: Development Credit Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this endend without any limitation or restriction upon any of its other obligations under the Development Credit Agreement, shall carry out:
(i) Parts A.1 cause NWFP and A.2 FATADC to perform in accordance with the provisions of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 Project Agreement all of the Projectobligations of NWFP and FATADC therein set forth, through MOF; and
(iii) Parts B.4 (a) shall take and cause to be taken all action, including the provision of the Projectfunds, through MIEfacilities, services and other resources, necessary or appropriate to enable NWFP and FATADC to perform such obligations, and shall not take or permit to be taken any action which would prevent or interfere with such performance.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the The Borrower shall carry out the Project make available to NWFP and FATADC in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of its standard budgetary procedures the proceeds of the CreditCredit allocated from time to time, make available in respect of NWFP, to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights Categories (SDR 31,900,0001)(a), (2)(a)(i), (2)(b)(i), (3)(a) for making Sub-loans to and Investments in eligible BEs, on behalf (4)(a) of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and table set forth in Part A.1 of Schedule 4 1 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case respect of Investments; and
FATADC, to Categories (ii1)(b), (2)(a)(ii), (2)(b)(ii), (3)(b) the foreign exchange riskand (4)(b), in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreementsaid table, in such manner as to protect the interests of the Borrower and the Association and to accomplish for the purposes of their respective activities under the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this AgreementProject.
Section 3.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 1 to this the Project Agreement.
Section 3.03. The Borrower shall:
(a) not later than April 30, 1991, furnish to and the Association acceptable terms of reference to carry out hereby agree that the studies referred to obligations set forth in Part B.4 (a);
(b) not later than December 31Sections 9.03, 1991:
(i) carry out 9.04, 9.05, 9.06, 9.07 and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) 9.08 of the Project; and
General Conditions (iirelating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 respect of the Borroweractivities of NWFP and FATADC under the Project shall be carried out by NWFP and FATADC, dated February 13respectively, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary pursuant to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution 2.03 of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Development Credit Agreement
Execution of the Project. (a) The Borrower GPT declares its commitment to the objectives objec- tives of the Project as set forth in Schedule 2 to this Agreement, the Development Credit Agreement and, to this end, shall carry out:
(i) Parts A.1 out the Project with due diligence and A.2 of efficiency and in conformity with appro- priate administrative, financial, engineering and telecommunica- tions practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Association and the Association GPT shall otherwise other- wise agree, the Borrower GPT shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 2 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works goods and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 1 to this Agreement.
Section 3.032.03. The Borrower shall:GPT shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement.
Section 2.04. GPT shall duly perform all its obligations under the Subsidiary Loan Agreement. Except as the Association shall otherwise agree, GPT shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Subsidiary Loan Agreement or any provision thereof.
Section 2.05. (a) not later than April 30GPT shall, 1991, furnish to at the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) request of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30Associa- tion, 1992 exchange views with the Association on said recommendations and agree with regard to the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the Subsidiary Loan Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationCredit.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower CDR declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall carry out:
(i) Parts A.1 out the Project with due diligence and A.2 of efficiency and in conformity with appropriate administrative, financial and engineering practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph paragraph
(a) of this Section Section, and except as the Borrower Bank and the Association CDR shall otherwise agree, the Borrower CDR shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 2 to this Agreement.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 1 to this Agreement.
Section 3.032.03. The Borrower shall:CDR shall carry out the obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement.
Section 2.04. CDR shall duly perform all its obligations under the Subsidiary Agreement. Except as the Bank shall otherwise agree, CDR shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Subsidiary Agreement or any provision thereof.
Section 2.05. (a) not later than April 30CDR shall, 1991, furnish to at the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) request of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30Bank, 1992 exchange views with the Association on said recommendations and agree Bank with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) regard to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the Subsidiary Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationLoan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower Section 2.01. BdL declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall carry out:out Part E of the Project with due diligence and efficiency and in conformity with appropriate administrative, financial, management and banking practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for Part E of the Project.
(i) Parts A.1 and A.2 Section 2.02. For the purpose of carrying out Part E of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 BdL shall re-lend in dollars to the Participating Banks the proceeds of the Project, through MOF; and
(iii) Parts B.4 (a) Loan allocated to Part E of the ProjectProject under Participating Agreements, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section each such Agreement to be entered into between BdL and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out the Project a Participating Bank in accordance with terms and conditions that shall have been approved by the Implementation Program Bank and which shall include those set forth in the Schedule 6 to this Agreement.
(ia) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure BdL agrees that Sub-loans and Investments made by BM under Part A E of the Project will shall be made in accordance with the criteria and pursuant to the terms and conditions set forth in Part B of the Schedule 4 to this Agreement.
Section 3.02. Except (b) BdL shall exercise its rights under each Participating Agreement in such a manner as to (i) protect the Association shall otherwise agree, procurement interests of the goods, works Bank and consultants’ services required for of BdL; (ii) comply with its obligations under this Agreement and the Project BdL Administration Agreement; and to be financed out (iii) achieve the objectives of Part E of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this AgreementProject.
Section 3.032.04. The Borrower shall:BdL shall carry out the obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the BdL Project Agreement and Part E of the Project.
Section 2.05. (a) not later than April 30BdL shall, 1991, furnish to at the Association acceptable terms of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) request of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30Bank, 1992 exchange views with the Association on said recommendations and agree Bank with regard to the Association on an action program and a timetable for the implementation progress of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 Part E of the Borrowerproject, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal the performance of its obligations under this Agreement and administrative measures necessary other matters relating to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion purposes of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationLoan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: BDL Project Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives objective of the Project as set forth in Schedule 2 to this AgreementProject, and, to this end, shall carry out:
(i) Parts A.1 Part A.3, Part B (with the exception of B.3) Part C, Part D.2 (jointly with MINVU) and A.2 Part E of the Project, Project through BM;Transantiago-SE; and
(ii) Parts B.1; B.2; B.3under the overall financial management, B.4 (b) coordination and B.5 supervision of Transantiago-SE, the remaining parts of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisionsassistance of:
(A) Subproject eligibility criteria, processing MTT in respect of Part B.3 and administration procedures and onlending terms and conditions for Sub-loans and InvestmentsD.3 of the Project;
(B) definition of BM’s functions and responsibilities regarding the implementation SECTRA in respect of Parts A.1 and A.2 and D.1 (jointly with MINVU) of the Project;
(C) MINVU in respect of Parts D.1 (jointly with SECTRA) and Part D.3 of the obligation Project (jointly with MTT);
(D) SEREMITT-RM in respect of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by Part D.4 of the AssociationProject; and
(DE) SERVIU in respect of Part A.4 and Part F. of the Borrower Project, all with due diligence and efficiency and in conformity with appropriate economic, administrative, financial, transport, social and environmental standards and practices and shall carry:
(i) provide, promptly as needed, the commercial funds, facilities, services and foreign exchange risks, in other resources required for the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loansProject.
(db) The Borrower shall exercise and cause BM to exercise their respective rights under shall, through the Subsidiary Administration AgreementCommittee of Ministers, in such manner as to protect during the interests implementation of the Borrower Project, maintain a Project coordination unit (PCU) in Transantiago-SE, with functions and responsibilities satisfactory to the Association Bank, at all times headed by a Project coordinator and assisted by staff in adequate numbers, all with qualifications and experience acceptable to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereofBank.
(ea) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works goods and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this Agreement, as said provisions may be further elaborated in the Procurement Plan.
(b) The Borrower shall update the Procurement Plan in accordance with guidelines acceptable to the Bank, and furnish such update to the Bank not later than 12 months after the date of the preceding Procurement Plan, for the Bank’s approval.
Section 3.03. The Borrower shallshall cause Transantiago-SE to:
(a) not later than April 30maintain policies and procedures adequate to enable it to monitor and evaluate on an ongoing basis, 1991in accordance with the Performance Indicators, furnish to the Association acceptable terms carrying out of reference to carry out the studies referred to in Part B.4 (a)Project and the achievement of the objectives thereof;
(b) not later than December 31, 1991:
(i) carry out and completeprepare, under terms of reference satisfactory to the AssociationBank, and furnish to the studies referred Bank, not later than twelve months after the Effective Date and yearly thereafter during the period of Project implementation, a report integrating the results of the evaluation activities performed pursuant to in Part B.4 paragraph (a) of this Section, on the Project; and
(ii) submit to progress achieved in the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry carrying out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal Project during the period preceding the date of such report and administrative setting out the measures necessary recommended to implement ensure the Planefficient carrying out of the Project and the achievement of the objectives thereof during the period following such date; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectivesreview with the Bank, including interest rates applicable to Sub-loans under Part A.1 of within no more than two months after each such report’s preparation, the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions reports referred to in Schedule 4 to this Agreement; and
paragraph (b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.Section; and
Appears in 1 contract
Samples: Loan Agreement
Execution of the Project. (a) The Borrower GRA declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall carry out:
out the Project (iexcept for Part A.3 thereof) Parts A.1 with due diligence and A.2 of efficiency and in conformity with appropriate administrative, financial, engineering, and environmental practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Bank and the Association GRA shall otherwise agree, the Borrower GRA shall carry out the Project (except for Part A.3 thereof) in accordance with the Implementation Program set forth in Schedule 6 1 to this Agreement.
(ic) The Borrower shallGRA shall enter into an agreement with ELCOM, out satisfactory to the Bank, for ELCOM to provide the supply of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans electricity to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of within the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreementarea.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 2 to this Agreement; provided, however, that for the carrying out of Part A.1, Part A.2, part of Part B(vii), Part B(viii), Part C.2(iii), Part C.2(iv), Part C.2(vii), part of Part D(iii), Part D(iv) and Part E(ii) of the Project whereby consultants’ services are not to be financed out of the proceeds of the Loan, GRA shall retain consultants with qualifications and terms of employment, including terms of reference, satisfactory to the Bank.
Section 3.03. The Borrower shall:
(a) not later than April 30, 1991, furnish to the Association acceptable terms of reference to GRA shall carry out the studies referred obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project (except for Part B.4 (aA.3. thereof);.
(b) Section 2.04. GRA shall take all such actions as shall be necessary to enable the Borrower to meet its obligations under the Loan Agreement, in particular those set forth in Section 3.04 therein.
Section 2.05. GRA shall duly perform all its obligations under the GRA Financing Agreement and ELCOM MOA. Except as the Bank shall otherwise agree, GRA shall not later than December 31take or concur in any action which would have the effect of amending, 1991:abrogating, assigning or waiving the GRA Financing Agreement or the ELCOM MOA or any provision thereof.
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 Section 2.06. (a) GRA shall, at the request of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30Bank, 1992 exchange views with the Association on said recommendations and agree Bank with regard to the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Associationperformance of its obligations under this Agreement, under the following:
(i) progress achieved in Project implementation GRA Financing Agreement, under the ELCOM MOA, and meeting Project objectives, including interest rates applicable other matters relating to Sub-loans under Part A.1 the purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationLoan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) Section 3.01. The Borrower declares its commitment to the objectives objective of the Project as set forth in Schedule 2 to this AgreementProject, and, to this end, shall shall:
(a) through SRA, carry outout the Project with the assistance of:
(i) FIFONAFE in respect of Parts A.1 A.3, B.2 (a) (i) and A.2 (ii), B.2 (b), B.3 and B.4 of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 the Financing Agency in respect of Part B.2 (ba) and B.5 (iii) of the Project, through MOF; and
(iii) Parts B.4 PA and RAN in respect of Part B.1 of the Project; all with due diligence and efficiency and in conformity with appropriate administrative, financial, engineering, technical and environmental practices, the Implementation Letter and the Approved POAs;
(ab) provide and cause to be provided promptly as needed, the funds, facilities, services and other resources required for the Project;
(c) through SRA, maintain during the implementation of the Project, through MIE.a Project coordination unit (PCU), with functions and responsibilities described in the Operational Manual;
(bd) Without limitation upon through SHCP and SRA, enter into a contract with NAFIN (XXXXXXX Contract), satisfactory to the provisions Bank, whereby:
(i) NAFIN agrees to act as financial agent of paragraph the Borrower with regard to the Loan, meaning that, inter alia, NAFIN agrees to represent the Borrower vis-à-vis the Bank for purposes of submitting Loan withdrawal applications to the Bank in form and substance sufficient to justify disbursement by the Bank to the Borrower of Loan proceeds;
(ii) SRA agrees to: (A) carry out all Parts of the Project; and (B) to cause FIFONAFE to assist in the carrying out of Parts A.3, B.2 (a) (i) and (ii), B.2 (b), B.3 and B.4 of the Project, all according to the terms of this Section Agreement; and
(iii) SRA and except as SHCP shall cooperate fully with NAFIN to ensure that NAFIN is able to comply with all of NAFIN’s obligations referred to in paragraph (d) (i) of this Section;
(e) through SRA, enter into an agreement, satisfactory to the Bank, with FIFONAFE (the FIFONAFE Agreement) such agreement to provide inter alia for:
(i) FIFONAFE’s obligation to assist in the carrying out of Parts A.3, B.2 (a) (i) and (ii), B.2 (b), B.3 and B.4 of the Project; evaluate, monitor and supervise the implementation of the Productive Subprojects financed by the Financing Agency with Complementary Subproject Financing, and enable the Borrower and to discharge all the Association shall otherwise agree, obligations assumed by the Borrower shall carry out in respect of such Parts of the Project Project, including those set forth in Articles III and IV of this Agreement; and
(ii) FIFONAFE’s obligation to enter into Land Transaction Subloan Agreements and Productive Subprojects Subloan Agreements with the JERs, substantially in accordance with the Implementation Program respective Model Form, such agreements to have terms and conditions satisfactory to the Bank and shall include inter alia the fiduciary, safeguard and other requirements set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and InvestmentsOperational Manual;
(Bf) definition of BM’s functions and responsibilities regarding through SRA or FIFONAFE, not later than six months after the Effective Date, enter into an agreement, satisfactory to the Bank, with the Financing Agency (the Financing Agency Agreement) whereby the Financing Agency will finance Productive Subprojects in accordance with the requirements for Complementary Subproject Financing set forth or referred to in the Operational Manual;
(g) through SRA or FIFONAFE, prior to the implementation of Parts A.1 and A.2 Part B.1 of the Project enter into an agreement or make other arrangements, satisfactory to the Bank, with PA to set forth the terms of PA’s cooperation in the implementation of Part B.1 of the Project;
(Ch) through SRA not later than six months after the obligation of BM to Effective Date, enter into Sub-loan Agreements an agreement or Investment Agreements make other arrangements, satisfactory to the Bank, with BEs CDI, to set forth CDI’s obligations to cooperate in the implementation of the IPDP;
(i) through SRA, enter into a grant agreement with each JER carrying out a Demonstration Subproject, Subproject Preparation TA Activity, and Subproject Implementation TA Activity, or cause the JER to sign other legal instruments for such purpose, under terms and conditions which shall have been approved by substantially similar to those of the Association; and
respective Model Form contained in the Operational Manual (D) the Borrower shall carryDemonstration Subproject Grant Agreement, the Subproject Preparation XX Xxxxx Agreement, and the Subproject Implementation XX Xxxxx Agreement), such agreements or legal instrument to provide for the obligation of the JER:
(i) to carry out the commercial and foreign exchange risks, Subproject as provided in the case of InvestmentsOperational Manual; and
(ii) to comply, when applicable, with the foreign exchange risk, in environmental and social requirements applicable to the case of Sub- loans.Subproject; and
(di) The Borrower shall exercise its rights and cause BM to carry out its obligations under the XXXXXXX Contract, and through SRA exercise their respective its rights under the Subsidiary Administration FIFONAFE Agreement, the PA Cooperation Agreement, the CDI Agreement, the Financing Agency Agreement and each of the Demonstration Subproject Grant Agreements, Subproject Preparation XX Xxxxx Agreements and Subproject Implementation XX Xxxxx Agreements, and cause FIFONAFE to exercise its rights and carry out its obligations under the FIFONAFE Agreement, and each of the Land Transaction Subloan Agreements and Productive Subproject Subloan Agreements, in such a manner as to protect the interests of the Borrower Bank and the Association Borrower and to accomplish the purposes of the Credit and, Loan;
(ii) except as the Association shall Bank may otherwise agree, not amend or fail to enforce any provision of the Borrower XXXXXXX Contract, the FIFONAFE Agreement, the PA Cooperation Agreement, the CDI Agreement, the Financing Agency Agreement and any of the Demonstration Subproject Grant Agreements, Subproject Preparation XX Xxxxx Agreements and Subproject Implementation XX Xxxxx Agreements, and cause FIFONAFE not to amend or fail to enforce any provision of the FIFONAFE Agreement, and each of the Land Transaction Subloan Agreements and Productive Subproject Subloan Agreements; and
(iii) in case of any conflict between the terms of: (A) the XXXXXXX Contract, the FIFONAFE Agreement, the PA Cooperation Agreement, the Financing Agency Agreement and any of the Demonstration Subproject Grant Agreements, Subproject Preparation XX Xxxxx Agreements, Subproject Implementation XX Xxxxx Agreements, Land Transactions Subloan Agreements, Productive Subproject Subloan Agreements and Productive Subproject Grant Agreements; and (B) those of this Agreement, the terms of this Agreement shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereofprevail.
(ea) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works works, non-consultants’ services and consultants’ ' services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this Agreement, as said provisions may be further elaborated in the Procurement Plan.
(b) The Borrower shall, through SRA, update the Procurement Plan in accordance with guidelines acceptable to the Bank, and furnish such update to the Bank not later than 12 months after the date of the preceding Procurement plan, for the Bank’s approval.
Section 3.03. The Borrower shall, through SRA:
(a) not later than February 28, 2006, propose to SHCP revisions needed for the Operation Rules in order:
(i) to ensure the participation of indigenous peoples and respect the customary laws of such indigenous peoples in the implementation of the Project; and
(ii) for consistency with the Environmental Management Plan, Pest Management Plan and the procedures in the Operational Manual applicable to forest harvesting under Productive Subprojects; and
(b) in its further revisions of the Operation Rules, take into account any changes that might be needed:
(i) to meet the indicators set forth in the Implementation Letter; and
(ii) to incorporate best practices and lessons learnt including those relating to debt/equity ratios for Productive Subproject Subloans, Complementary Subproject Financing and Land Transaction Subloans, contributions of JERs, and investment ceilings for Productive Subprojects and Land Transactions.
(a) The Borrower shall through SRA carry out, and cause to be carried out, the Project in accordance with the Operational Manual, satisfactory to the Bank, which manual includes, inter alia:
(i) the procedures for the carrying out, monitoring and evaluation of the Project (including the procurement, financial management and disbursement requirements thereof);
(ii) (A) the Operation Rules including, inter alia, the criteria for the approval, implementation and monitoring of Subprojects and Land Transactions, and onlending terms; and (B) the social and environmental requirements for Subprojects which shall be consistent with the documents referred to in (iv) below;
(iii) a model contract each for implementation of Demonstration Subprojects, Productive Subprojects, and Subproject Preparation TA Activities, Subproject Implementation TA Activities and Land Transactions;
(iv) the IPDP, Environmental Management Plan, Pest Management Plan and the procedures for approval and implementation of forest harvesting activities; and
(v) the organization of the PCU.
(b) In case of any conflict between the terms of the Operational Manual and those of this Agreement, the terms of this Agreement shall prevail.
Section 3.05. The Borrower shall, through SRA, during the execution of the Project:
(a) maintain, and cause FIFONAFE in respect of Parts A.3, B.2 (a) (i) and (ii), B.2 (b), B.3 and B.4 of the Project to maintain, policies and procedures adequate to enable it to monitor and evaluate on an ongoing basis, and in accordance with the indicators set forth in the Implementation Letter, the carrying out of their respective Parts of the Project, and the achievement of its objective;
(b) furnish, and cause FIFONAFE in respect of Parts A.3, B.2 (a) (i) and (ii), B.2 (b), B.3 and B.4 of the Project to furnish, to the Bank, not later than April 30 and October 31 of each year, commencing April 30, 2006, a progress report on the execution of the Project during the calendar semester period immediately preceding the date of each such report, said report to be of such scope and detail as the Bank may reasonably request and to include the results of the monitoring and evaluation activities performed pursuant to paragraph (a) of this Section;
(c) carry out, jointly with the Bank and FIFONAFE not later than May 31 and November 30 of each year, commencing May 31, 2006 reviews of the progress of the Project and the attainment of Project objective on the basis of the reports referred to in paragraph (b) of this Section; and
(d) after each such review, take all measures required to ensure the efficient completion of the Project and the achievement of its objective, based on the conclusions and recommendations of the said reports and reviews, and the Bank's views on the matter.
Section 3.06. The Borrower shall:
(a) not later than April 30by November 30 of each year during Project implementation, 1991through SRA prepare, and cause FIFONAFE to prepare, and furnish to the Association acceptable terms Bank, for comments, the proposed preliminary operating plan and budget, satisfactory to the Bank, detailing the Project activities proposed to be carried out during the next succeeding year and the respective sources of reference to carry out the studies referred to in Part B.4 (a);funding therefore; and
(b) not later than December 31March 31 of each year furnish to the Bank the final operating plan for such year (Approved POA).
Section 3.07. The Borrower shall through SRA, 1991carry out, and cause CDI to carry out, the IPDP in accordance with its terms.
Section 3.08. For the purposes of Section 9.07 of the General Conditions and without limitation thereto, the Borrower shall:
(ia) carry out and completethrough SRA, under terms prepare, on the basis of reference satisfactory guidelines acceptable to the AssociationBank, and furnish to the studies referred to in Part B.4 Bank not later than six (a6) months after the Closing Date or such later date as may be agreed for this purpose between the Borrower and the Bank, a plan for the future operation of the Project; and
(iib) submit afford the Bank a reasonable opportunity to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association Borrower on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action programplan.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Execution of the Project. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this AgreementProject, and, to this end, end shall carry out:
: (i) Parts A.1 A, C, E, F.3 and A.2 F.4 of the Project, Project through BM;
DOWT; (ii) Parts B.1; B.2; B.3, B.4 (b) F.1 and B.5 F.2 of the Project, Project through MOFits Department of Trade and Industry; and
and (iii) Parts B.4 (a) B and D of the Project through the Participating Provinces, all with due diligence and efficiency and in conformity with sound administrative, economic, engineering, financial and technical practices, and social and environmental standards and shall provide, promptly as needed, the funds, facilities, services and other resources required for the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association Bank shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 5 to this Agreement.
Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the works, goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 4 to this Agreement.
Section 3.03. The Without limitation upon the provisions of paragraph (a) of Section 3.01 of this Agreement, the Borrower shall:
(a) not later than April 30open and thereafter maintain, 1991until completion of the Project, furnish an Executing Agency Trust Account in Kina in a commercial bank, acceptable to the Association acceptable Bank, on terms and conditions satisfactory to the Bank, including appropriate protection against set-off, seizure and attachment, for purposes of reference to carry channeling in a timely manner the Borrower’s funding for the costs of works, goods and services required for the carrying out of Parts A, C, E and F of the studies referred to in Part B.4 (a)Project, not financed out of the proceeds of the Loan;
(b) make an initial deposit into such account in the amount of K5,000,000; and
(c) deposit into the Executing Agency Trust Account, not later than December 31the last day of each calendar quarter, 1991amounts sufficient to cover counterpart funding for estimated disbursements under Parts A, C, E and F of the Project for the succeeding three-month period.
Section 3.04. Without limitation upon the provisions of paragraph (a) of Section 3.01 of this Agreement, the Borrower shall, through each Participating Province:
(a) open and thereafter maintain, until completion of the Project, a Provincial Executing Agency Trust Account in Kina in the name of the respective Participating Province, each in a commercial bank, acceptable to the Bank, on terms and conditions satisfactory to the Bank, including appropriate protection against set-off, seizure and attachment, for purposes of channeling in a timely manner each Participating Provinces’ funding for the costs of works, goods and services required for the carrying out of its Respective Part of the Project not financed out of the proceeds of the Loan;
(b) make an initial deposit into each such account as follows:
(i) carry out for the Central Province in the amount of K200,000;
(ii) for the East New Britain Province in the amount of K400,000;
(iii) for the Xxxxx Province in the amount of K140,000;
(iv) for the Morobe Province in the amount of K270,000;
(v) for the Oro Province in the amount of K140,000; and
(vi) for the West New Britain Province in the amount of K200,000.
(c) and, thereafter, deposit into each such Provincial Executing Agency Trust Account, not later than June 30 and completeDecember 31 of each calendar year, commencing on December 31, 2002, amounts sufficient to cover counterpart funding for estimated disbursements under terms the Respective Parts of reference satisfactory to the Association, Project on account of the studies referred to in Part B.4 relevant Participating Province for the succeeding six-month period.
Section 3.05. Without limitation upon the provisions of paragraph (a) of Section 3.01 of this Agreement, the Borrower shall, through each Participating Province:
(a) open and thereafter maintain until completion of the Project, an Imprest Account in Kina in the name of the respective Participating Province, each in a commercial bank, acceptable to the Bank, on terms and conditions satisfactory to the Bank, including appropriate protection against set-off, seizure and attachment, for purposes of channeling in a timely manner each Participating Provinces’ funding for the costs of works for routine maintenance of provincial roads procured under paragraph 4 of Part C of Section I of Schedule 4 to this Agreement required for the carrying out of the respective Part B.1 of the Project not financed out of the proceeds of the Loan;
(b) make an initial deposit into each such account as follows:
(i) for the Central Province in the amount of K100,000;
(ii) for the East New Britain Province in the amount of K200,000;
(iii) for the Xxxxx Province in the amount of K60,000;
(iv) for the Morobe Province in the amount of K130,000;
(v) for the Oro Province in the amount of K60,000; and
(iivi) submit to for the Association West New Britain Province in the recommendations amount of said studies;K100,000.
(c) and, thereafter, deposit into each such Imprest Account, not later than June 3030 and December 31 of each calendar year, 1992 exchange views with the Association commencing on said recommendations and agree with the Association on an action program and a timetable December 31, 2002, amounts sufficient to cover counterpart funding for estimated disbursements for the implementation costs of said recommendations; and
(d) not later than March 30, 1993, carry works for routine maintenance of provincial roads procured under paragraph 4 of Part C of Section I of Schedule 4 to this Agreement required for the carrying out said action programby the relevant Participating Province its respective part of Part B.1 of the Project for the succeeding six-month period.
Section 3.043.06. The For the purposes of Section 9.07 of the General Conditions and without limitation thereto, the Borrower shall:
(a) prepare, on the basis of guidelines acceptable to the Bank, and furnish to the Bank not later than December 31six (6) months after the Closing Date or such later date as may be agreed for this purpose between the Borrower and the Bank, 1990, prepare and complete an action a plan (designed to ensure the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion continued achievement of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project ’s objectives, including interest rates applicable to Sub-loans under Part A.1 of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement afford the recommendations of such reviews in accordance Bank a reasonable opportunity to exchange views with an action plan and timetable as agreed between the Borrower and the Associationon said plan.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Execution of the Project. (a) The Borrower Jiangsu Province declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Loan Agreement, and, to this end, shall carry out:
(i) Parts A.1 out the Project with due diligence and A.2 of efficiency and in conformity with appropriate administrative, financial, engineering and environmental practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower Bank and the Association Jiangsu Province shall otherwise agree, the Borrower :
(i) Jiangsu Province shall carry out Parts B, C and D of the Project in accordance with the Implementation Program set forth in Schedule 6 2 to this Agreement; and
(ii) Jiangsu Province shall carry out Part A of the Project in accordance with Schedule 3 to this Agreement.
(ic) The Borrower shall, out Jiangsu Province shall re-lend the respective portions of the proceeds of the Credit, make available Loan to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, the Project Municipalities on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on following principal terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carryconditions:
(i) repayment over a period not exceeding eighteen years, including five years of grace;
(ii) interest to be paid by the commercial and Project Municipalities at a rate not less than eighty-five percent (85%) of the rate calculated in accordance with Section 2.05 (a) of the Loan Agreement;
(iii) the Project Municipalities to bear the foreign exchange risks, in risk between the case of InvestmentsRenminbi and the Bank’s currency pool; and
(iiiv) commitment charges to be paid by the foreign exchange risk, Project Municipalities at the rate stated in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests Section 2.04 of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Loan Agreement.
Section 3.022.02. Except as the Association Bank shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 3 1 to this Agreement.
Section 3.032.03. The Borrower shall:Jiangsu Province shall carry out the obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement.
(a) not later than April 30Jiangsu Province shall, 1991at the request of the Bank, furnish exchange views with the Bank with regard to progress of the Project, the performance of its obligations under this Agreement and other matters relating to the Association acceptable terms purposes of reference to carry out the studies referred to in Part B.4 (a);Loan.
(b) not later than December 31, 1991:
(i) carry out and complete, under terms Jiangsu Province shall promptly inform the Bank of reference satisfactory any condition which interferes or threatens to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views interfere with the Association on said recommendations and agree with the Association on an action program and a timetable for the implementation of said recommendations; and
(d) not later than March 30, 1993, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991, and not later than June 30 of each year thereafter until the completion of the Project, review jointly with the Association, the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 accomplishment of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafterpurposes of Loan, implement or the recommendations performance by Jiangsu Province of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the Association.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to its obligations under this Agreement.
Appears in 1 contract
Samples: Project Agreement
Execution of the Project. (a) The Borrower Section 2.01. DDWW declares its commitment to the objectives of the Project as set forth in Schedule 2 to this the Development Credit Agreement, and, to this end, shall carry out:
(i) out Parts A.1 A, B, C and A.2 E of the Project with due diligence and efficiency and in conformity with the Project Implementation Manual with appropriate administrative, financial, and engineering practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for Parts A, B, C and E of the Project, through BM;
(ii) Parts B.1; B.2; B.3, B.4 (b) and B.5 of the Project, through MOF; and
(iii) Parts B.4 (a) of the Project, through MIE.
(b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the Borrower shall carry out the Project in accordance with the Implementation Program set forth in Schedule 6 to this Agreement.
(i) The Borrower shall, out of the proceeds of the Credit, make available to BM an amount equivalent to thirty-one million nine hundred thousand Special Drawing Rights (SDR 31,900,000) for making Sub-loans to and Investments in eligible BEs, on behalf of the Borrower, under a Subsidiary Administration Agreement to be entered into between the Borrower and BM on terms and conditions which shall have been approved by the Association and set forth in Schedule 4 to this Agreement; (ii) the Subsidiary Administration Agreement shall include, inter alia, the following provisions:
(A) Subproject eligibility criteria, processing and administration procedures and onlending terms and conditions for Sub-loans and Investments;
(B) definition of BM’s functions and responsibilities regarding the implementation of Parts A.1 and A.2 of the Project;
(C) the obligation of BM to enter into Sub-loan Agreements or Investment Agreements with BEs under terms and conditions which shall have been approved by the Association; and
(D) the Borrower shall carry:
(i) the commercial and foreign exchange risks, in the case of Investments; and
(ii) the foreign exchange risk, in the case of Sub- loans.
(d) The Borrower shall exercise and cause BM to exercise their respective rights under the Subsidiary Administration Agreement, in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit and, except as the Association shall otherwise agree, the Borrower shall not take or concur in any action which should have the effect of assigning, amending, abrogating or waiving the said Agreement or any provisions thereof.
(e) Unless the Association shall otherwise agree, the Borrower shall ensure that Sub-loans and Investments made by BM under Part A of the Project will be made in accordance with the terms and conditions set forth in Schedule 4 to this Agreement.
Section 3.022.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for Parts A, B, C and E of the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this the Development Credit Agreement.
Section 3.032.03. The Borrower shall:DDWW shall carry out the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of the Project Agreement and Parts A, B, C, and E of the Project.
Section 2.04. DDWW shall duly perform all its obligations under the Subsidiary Loan Agreement. Except as the Association shall otherwise agree, DDWW shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the Subsidiary Loan Agreement or any provision thereof.
Section 2.05. (a) not later than April 30DDWW shall, 1991, furnish to at the Association acceptable terms request of reference to carry out the studies referred to in Part B.4 (a);
(b) not later than December 31, 1991:
(i) carry out and complete, under terms of reference satisfactory to the Association, the studies referred to in Part B.4 (a) of the Project; and
(ii) submit to the Association the recommendations of said studies;
(c) not later than June 30, 1992 exchange views with the Association on said recommendations and agree with regard to the Association on an action program and a timetable for the implementation progress of said recommendations; and
(d) not later than March 30Parts A, 1993B, carry out said action program.
Section 3.04. The Borrower shall:
(a) not later than December 31, 1990, prepare and complete an action plan (the Plan) to determine the legal ownership status of enterprises under government intervention in accordance with the provisions of Decree-Law No. 16/75 of the Borrower, dated February 13, 1975, as amended;
(b) promptly thereafter, take all legal and administrative measures necessary to implement the Plan; and
(c) not later than June 30, 1993, review jointly with the Association, progress achieved in implementing the Plan.
Section 3.05. The Borrower shall:
(a) not later than June 30, 1991C, and not later than June 30 of each year thereafter until the completion E of the Project, review jointly with the Associationperformance of its obligations under this Agreement and under the Subsidiary Loan Agreement, and other matters relating to the following:
(i) progress achieved in Project implementation and meeting Project objectives, including interest rates applicable to Sub-loans under Part A.1 purposes of the Project;
(ii) Subproject eligibility criteria and onlending terms and conditions referred to in Schedule 4 to this Agreement; and
(b) promptly thereafter, implement the recommendations of such reviews in accordance with an action plan and timetable as agreed between the Borrower and the AssociationCredit.
Section 3.06. The Borrower shall maintain ERTU and IWG during the execution of the Project with such responsibilities, powers, facilities and staff whose experience and qualifications are satisfactory to the Association, as are specified in Schedule 6 to this Agreement.
Appears in 1 contract
Samples: Project Agreement
