Common use of Specific Undertakings Clause in Contracts

Specific Undertakings. Until the full satisfaction of all obligations due to the Bank under any Financing Document, the Borrower, in addition to the obligations provided under Section 5 (General undertakings of the Debtors) from Chapter 1 (General provisions) hereof, undertakes to duly and timely perform the following obligations: (a) to provide the Bank with the final invoice or any equivalent document attesting the purchase of the asset to which the Credit Facility Agreement relates, respectively the transfer of the ownership right to the Borrower, in form and substance satisfactory to the Bank, without delay from the date of receipt of such documents, but without exceeding 30 (thirty) days from the date of the utilization of the Credit Facility or of the tranche from the Credit Facility corresponding with the moment of the ownership right transfer; (b) to allow the Bank to perform technical analysis, on stages of completion of works, on the Borrower’s expense, at any time during the validity of the Credit Facility Agreement, whenever the Bank may deem necessary; (c) in case of complex investment, mentioned as such in the Credit Facility Agreement: (i) within 30 (thirty) calendar days of signing the takeover minutes upon completion of works related to the investment financed with Credit Facility amounts, to provide the Bank with certified copies of the land book registration decision and of the respective minutes; if the relevant building was erected on a land over which a Security has been created in favour of the Bank, the Borrower undertakes to validly create a mortgage over the building, within 30 (thirty) calendar days as of the date of registration of the takeover minutes upon completion of works in the land book; (ii) to take any necessary measures to allow the Bank, through its authorized representatives or through a company agreed by the Bank (project monitor), to monitor on site the reality of the payments made and of the data mentioned by the Borrower on the payment documents, the observance of the provisions of the technical-economic documentation and the observance of the budget on which the amount of the Facility Limit is based; and (iii) for Facility Limits granted for construction, rehabilitation, consolidation or extension of an immovable asset, to take any necessary measures to allow the Bank to verify the observance of the works performance schedule by the contractor.

Specific Undertakings. Until the full satisfaction of all obligations due to the Bank under any Financing Document, the Borrower, in addition to the obligations provided under Section 5 (General undertakings of the Debtors) from Chapter 1 (General provisions) hereof, undertakes to duly and timely perform the following obligations: (a) to provide the Bank with the final invoice or any equivalent document attesting the purchase of the asset to which the Credit Facility Agreement relates, respectively the transfer of the ownership right to the Borrower, in form and substance satisfactory to the Bank, without delay from the date of receipt of such documents, but without exceeding 30 (thirty) days from the date of the utilization of the Credit Facility or of the tranche from the Credit Facility corresponding with the moment of the ownership right transfer; (b) to allow the Bank to perform technical analysis, on stages of completion of works, on the Borrower’s 's expense, at any time during the validity of the Credit Facility Agreement, whenever the Bank may deem necessary; (c) in case of complex investment, mentioned as such in the Credit Facility Agreement: (i) within 30 (thirty) calendar days of signing the takeover minutes upon completion of works related to the investment financed with Credit Facility amounts, to provide the Bank with certified copies of the land book registration decision and of the respective minutes; if the relevant building was erected on a land over which a Security has been created in favour of the Bank, the Borrower undertakes to validly create a mortgage over the building, within 30 (thirty) calendar days as of the date of registration of the takeover minutes upon completion of works in the land book; (ii) to take any necessary measures to allow the Bank, through its authorized representatives or through a company agreed by the Bank (project monitor), to monitor on site the reality of the payments made and of the data mentioned by the Borrower on the payment documents, the observance of the provisions of the technical-economic documentation and the observance of the budget on which the amount of the Facility Limit is based; and (iii) for Facility Limits granted for construction, rehabilitation, consolidation or extension of an immovable asset, to take any necessary measures to allow the Bank to verify the observance of the works performance schedule by the contractor.