Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following, namely, that a situation has arisen which shall make it improbable that the Program, or a significant part of it, will be carried out.
Remedies of the Bank. Section 5.01. Pursuant to Section 6.02 (p) of the General Conditions, the following additional events are specified:
(a) MMA or IBAMA or INCRA or FUNAI shall have failed to perform any of their respective obligations under the MMA Implementation Agreement, the IBAMA Implementation Agreement, the INCRA Cooperation Agreement, or the FUNAI Cooperation Agreement;
(b) MMA shall have assigned, amended, abrogated or failed to enforce the MMA Implementation Agreement, the IBAMA Implementation Agreement, the INCRA Cooperation Agreement or the FUNAI Cooperation Agreement without the Bank’s prior agreement;
(c) Any State or Municipality shall have failed to perform any of their respective obligations under the State Cooperation Agreement or Municipality Cooperation Agreement provided, however, that the suspension of the Recipient’s right to make withdrawals from the GEF Trust Fund Grant Account may be limited by the Bank to withdrawals in respect of Project expenditures incurred or to be incurred by said State or Municipality;
(d) the SNUC Law or the Presidential Decree shall have been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely the ability of the Recipient, MMA or IBAMA, to perform any of its obligations under this Agreement, the MMA Implementation Agreement, the IBAMA Implementation Agreement, the INCRA Cooperation Agreement, or the FUNAI Cooperation Agreement;
(e) the KFW Grant Agreement or the Brazil Connects Grant Agreement shall have failed to become effective by a date eighteen months after the Effective Date, or such later date as the Bank may agree; provided, however, that the provisions of this paragraph shall not apply if the Recipient or the FRB establish to the satisfaction of the Bank that adequate funds for the Project are available to the Recipient from other sources on terms and conditions consistent with the obligations of the Recipient under this Agreement;
(i) Subject to subparagraph (ii) of this paragraph, the right of the FRB or the Recipient, as the case may be, to withdraw the proceeds of the KFW Grant or the WWF Grant or the Brazil Connects Grant shall have been suspended, canceled or terminated in whole or in part, pursuant to the terms of the KFW Grant Agreement or the WWF Grant Agreement or the Brazil Connects Grant Agreement; or
(ii) Subparagraph (i) of this paragraph shall not apply if the Recipient or the FRB establish, to the satisfaction of the Bank that: (A) such suspension, cancellation...
Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following, namely that a situation has arisen which shall make it improbable that the Program, or a significant part of it, will be carried out.
4.02. The Additional Event of Acceleration consists of the following, namely that the event specified in Section 4.01 of this Agreement occurs and is continuing for a period of sixty (60) days after notice of the event has been given by the Bank to the Borrower.
Remedies of the Bank. Section 5.01. Pursuant to Section 6.02 (p) of the General Conditions, the following additional event is specified, namely, that a situation shall have arisen which shall make it improbable that the Program or a significant part thereof will be carried out.
Remedies of the Bank. Section 5.01. Pursuant to Section 6.02(p) of the General Conditions, the following additional events are specified:
(a) any of Law No. 32 of 2004 Regarding Regional Governance, Law No. 33 of 2004 Regarding Fiscal Balance between the Central Government and the Regions, or Decree MOF-No. 35/KMK.072/2002, shall have been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely the ability of the Borrower to perform any of its obligations under this Agreement; or
(i) Subject to sub-paragraph (ii) of this paragraph, the right of the Borrower to withdraw the proceeds of the PHRD Grant made to the Borrower for the financing of the Project shall have been suspended, canceled or terminated in whole or in part, pursuant to the terms of the PHRD Grant Agreement.
(ii) Sub-paragraph (i) of this paragraph shall not apply if the Borrower establishes to the satisfaction of the Bank that: (A) such suspension, cancellation or termination is not caused by the failure of the Borrower to perform any of its obligations under such agreement; and (B) adequate funds for the Project are available to the Borrower from other sources on terms and conditions consistent with the obligations of the Borrower under this Agreement.
Remedies of the Bank. Section 5.01. Pursuant to Section 6.02(p) of the General Conditions, the following additional events are specified:
Remedies of the Bank. 4.01. The Additional Events of Suspension consist of the following:
(a) A situation has arisen which, in the opinion of the Bank, shall make it improbable that the Program, or a significant part thereof, will be carried out.
(b) The Borrower’s macroeconomic policy framework has, in the opinion of the Bank, become inconsistent with the objectives of the Program.
(c) An action has been taken or a policy has been adopted to reverse any action or policy under the Program (including any action listed in Section I of Schedule 1 to this Agreement) in a manner that would, in the opinion of the Bank, adversely affect the achievement of the objectives of the Program.
Remedies of the Bank. 4.01. The Additional Event of Suspension consists namely of the following, that the Project Implementing Entity’s Legislation has been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely the ability of the Project Implementing Entity to perform any of its obligations under the Project Agreement.
4.02. The Additional Event of Acceleration consists namely of the following, that the event specified in Section 4.01 of this Agreement occurs and is continuing for a period of sixty (60) days after notice of the event has been given by the Bank to the Borrower.
Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following, namely the Memorandum and Articles of Association shall have been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely the ability of the Borrower to perform any of its obligations under this Agreement.
4.02. The Additional Event of Acceleration consists of the following, namely that the event specified in Section 4.01 of this Agreement occurs.
Remedies of the Bank. If any one or more of the Events of Default described in Section 8 shall occur, the Bank may, at its option at any time thereafter, take one or more of the following actions:
(i) declare all amounts due and payable hereunder by the Borrower to the Bank and all other obligations and indebtedness owed by the Borrower to the Bank to be forthwith due and payable (with the exception of an Event of Default described in Sections 8.7 or 8.8, in which case the amounts due and payable hereunder by the Borrower to the Bank and all other obligations and indebtedness owed by the Borrower to the Bank shall automatically become due and payable), whereupon the indebtedness owed to the Bank by the Borrower hereunder and all other obligations owed by the Borrower to the Bank with accrued interest thereon, whether contingent or direct, shall forthwith become due and payable, without presentment, demand, protest, or other notice of any kind from the Bank, all of which are hereby expressly waived, anything contained in the Loan Documents to the contrary notwithstanding, and all commitments to make Advances shall terminate; (ii) require the Borrower to gxxxx x xxxx or a security interest in all assets of the Borrower to the Bank, subject to the provisions of Section 3.1(b) hereof, and (iii) immediately proceed to do all other things provided for by law or the Loan Documents to enforce its rights hereunder and to collect all amounts owing to the Bank by the Borrower. No right, power, or remedy conferred upon the Bank by the Loan Documents shall be exclusive of any other right, power, or remedy referred to therein or now or hereafter available at law or in equity. Upon the occurrence and during the continuance of any Event of Default, Borrower shall immediately upon demand by Bank deposit with Bank cash collateral in the amount equal to the maximum amount available to be drawn at any time under any Letter of Credit then outstanding.
