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) FISDL has failed to comply with any of its obligations under the Subsidiary Agreement.
(b) Any Participating Agency has failed to comply with any of its obligations under its respective Participation Agreement or Coordination Agreement, as the case may be.
(c) The Decrees referred to in the definitions of FISDL and Program in Section 1.02 (k) and (aa) of this Agreement or any provision thereof shall have been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely, in the opinion of the Bank, the ability of the Borrower to perform any of its obligations under this Agreement.
(d) The Borrower or any other authority having jurisdiction shall have taken any action for the dissolution or disestablishment of FISDL.
(e) The IADB Loan Agreement shall have failed to become effective by October 12, 2006, or such later date as the Bank may agree; provided, however, that the provisions of this paragraph shall not apply if the Borrower establishes to the satisfaction of the Bank that 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.
(i) Subject to subparagraph (ii) of this paragraph:
(A) the right of the Borrower to withdraw the proceeds of the IADB Loan 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 IADB Loan Agreement; or
(B) the IADB Loan shall have become due and payable prior to the agreed maturity thereof.
(ii) Subparagraph (i) of this paragraph shall not apply if the Borrower establishes to the satisfaction of the Bank that: (A) such suspension, cancellation, termination or prematuring 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. 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 6.01. Pursuant to Section 6.02(p) of the General Conditions, the following additional events are specified:
(a) The EBRD Loan Agreement or the DBK Loan Agreement, as the case may be, shall have failed to become effective by August 31, 2006, or such later date as the Bank may agree; provided, however, that the provisions of this paragraph shall not apply if the Borrower establishes to the satisfaction of the Bank that adequate funds for Parts A, B and C of the Project are available to the Borrower from other sources on terms and conditions consistent with the obligations of the Borrower under this Agreement.
(i) Subject to sub-paragraph (ii) of this paragraph:
(A) the right of the Borrower to withdraw the proceeds of the EBRD Loan or the DBK Loan, as the case may be, 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 EBRD Loan Agreement or the DBK Loan Agreement, as the case may be; or
(B) the EBRD Loan or the DBK Loan, as the case may be, shall have become due and payable prior to the agreed maturity thereof.
(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, termination or pre-maturing is not caused by the failure of the Borrower to perform any of its obligations under such agreement; and (B) adequate funds for Parts A, B and C of 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 of the following: the Project Implementing Entity’s Legal Framework 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 of the following: 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.
