Common use of Remedies of the Bank Clause in Contracts

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consists of the following: the Project Implementing Entity’s Legal Framework has been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely the ability of the Project Implementing Entity to perform any of its obligations under the Project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.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement

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Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following: , namely that the Project Implementing EntityManagement Unit’s Legal Framework has Regulation or the Steering Council’s Regulation have been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely adversely, in the opinion of the Bank, the ability of the Project Implementing Entity Borrower to perform any of its obligations under the Project this Agreement. 4.02. The Additional Event of Acceleration consists of the following: the , namely that any event specified in Section 4.01 of this Agreement occurs and is continuing for a period of sixty (60) 120 days after notice of the event has been given by the Bank to the Borrower.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement

Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following: the The Project Implementing Entity’s Legal Framework Legislation has been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely the ability of the Project Implementing Entity to perform any of its obligations under the Project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 of the following: the The event specified in Section 4.01 of this Agreement occurs and is continuing for a period of sixty thirty (6030) days after notice of the event has been given by the Bank to the Borrower.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement

Remedies of the Bank. 4.01. The Additional Event of Suspension consists namely of the following: , that the Project Implementing Entity’s Legal Framework 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.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement

Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following: , an action has been taken or a policy has been adopted to reverse any action under the Project Implementing Entity’s Legal Framework has been amendedin a manner that would, suspendedin the opinion of the Bank, abrogated, repealed or waived so as to adversely affect materially and adversely the ability achievement of the objective of the Project Implementing Entity to perform or the execution capacity of MARENASS or any of its obligations under the Project Agreementsuccessor entity thereof. 4.02. The Additional Event of Acceleration consists of the following: the , namely, that any event specified in Section 4.01 of this Agreement occurs and is continuing for a period of sixty (60) 60 days after notice of the event has been given by the Bank to the Borrower.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement

Remedies of the Bank. 4.01. 4.01 The Additional Event additional event of Suspension suspension consists of the following: , namely, that the Project Implementing Entity’s Legal Framework Legislation has been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely affect 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.

Appears in 1 contract

Samples: Loan Agreement

Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following: , namely that the Project Implementing Entity’s Legal Framework 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 of the following: , namely that the event specified in Section 4.01 of this Agreement occurs and is continuing for a period of sixty 90 (60ninety) days after notice of the event has been given by the Bank to the Borrower.

Appears in 1 contract

Samples: Loan Agreement

Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following: the : (a) The Project Implementing Entity’s Legal Framework 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 of the following: the The event specified in paragraph (a) of 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 Borroweroccurs.

Appears in 1 contract

Samples: Loan Agreement

Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following: the : (a) The Project Implementing Entity’s Legal Framework 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 of the following: the : (a) The event specified in paragraph (a) of 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 Borroweroccurs.

Appears in 1 contract

Samples: Loan Agreement

Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following: the Project Implementing Entity’s Legal Framework 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 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 Borroweroccurs.

Appears in 1 contract

Samples: Loan Agreement

Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following: , namely, that the Project Implementing Entity’s Legal Framework Legislation has been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely the ability of the Project Implementing Entity ANA to perform any of its obligations under the Project Agreement. 4.02. The Additional Event of Acceleration consists of the following: the , namely, that any 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 Borroweroccurs.

Appears in 1 contract

Samples: Loan Agreement

Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following: , namely that the Project Implementing Entity’s Legal Framework 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 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 Borroweroccurs.

Appears in 1 contract

Samples: Loan Agreement

Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following: the Project Implementing namely, that either Entity’s Legal Framework legislation has been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely the ability of the Project Implementing said Entity to perform any of its obligations under the relevant Project Agreement or Subsidiary 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 and is continuing for a period of sixty (60) days after notice of the event has been given by the Bank to the Borrower.

Appears in 1 contract

Samples: Loan Agreement

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Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following: the The Project Implementing Entity’s Legal Framework 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 of the following: the 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 Borroweroccurs.

Appears in 1 contract

Samples: Loan Agreement

Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following: , namely that the Project Implementing Entity’s Legal Framework Governing Act has been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely (in the opinion of the Bank) 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: , 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 Borroweroccurs.

Appears in 1 contract

Samples: Loan Agreement

Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following: , namely that the Project Implementing Entity’s Legal Framework Output Agreement has been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely adversely, in the opinion of the Bank, the ability of the Project Implementing Entity to perform any of its obligations under the Project Output 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 and is continuing for a period of sixty (60) days after notice of the event has been given by the Bank to the Borrower.

Appears in 1 contract

Samples: Loan Agreement

Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following: , namely that the Project Implementing Entity’s Legal Framework 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 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 Borroweroccurs.

Appears in 1 contract

Samples: Loan Agreement

Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following: , namely, that any of the respective Project Implementing Entity’s Legal Framework Legislation has been amended, suspended, abrogated, repealed repealed, or waived so as to affect materially and adversely affect the ability of any of the Project Implementing Entity Entities to perform any of its obligations under the its respective Project 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 and is continuing for a period of sixty (60) days after notice of the event has been given by the Bank to the Borrower.

Appears in 1 contract

Samples: Loan Agreement

Remedies of the Bank. 4.01. The Additional Event of Suspension consists of the following: , namely that the Project Implementing Entity’s Legal Framework 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 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.

Appears in 1 contract

Samples: Loan Agreement

Remedies of the Bank. 4.01. The Additional Event of Suspension consists of is that the following: the Project Implementing Entity’s Legal Framework Ordinance 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: is 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.

Appears in 1 contract

Samples: Loan Agreement

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