Subproject Agreements Sample Clauses
Subproject Agreements. 1. The Sponsoring Agencies selected to carry out the Subprojects shall promptly enter into Subproject Agreements with SIF, on terms and conditions satisfactory to the Association, pursuant to which SIF shall, inter alia, obtain rights adequate to protect the interests of the Association and SIF, including the rights of SIF to:
(i) require the Sponsoring Agency to carry out and operate the Subproject with due diligence and efficiency and in accordance with sound technical, financial and managerial standards and to maintain adequate records;
(ii) require that: (A) the goods, services and works to be financed out of the proceeds of the Credit shall be procured in accordance with Schedule 1 to this Agreement; and (B) such goods, services and works shall be used exclusively in the carrying out of the Subproject;
(iii) inspect by itself or jointly with representatives of the Association, if the Association shall so request, such goods and the sites, works, plants and construction included in the Subproject, the operation thereof, and any relevant records and documents;
(iv) obtain all such information as the Association shall reasonably request relating to the foregoing and to the administration, operations and financial condition of the Subproject and, if appropriate, to the benefits to be derived therefrom; and
(v) suspend or terminate the right of the Sponsoring Agency to the use of the proceeds of the Credit upon failure by such Agency to perform its obligations under its Subproject Agreement with SIF.
2. SIF shall exercise its rights in relation to each Subproject in such manner as to: (i) protect the interests of the Borrower and the Association and its interests; (ii) comply with its obligations under the Subsidiary Administration Agreement; and (iii) achieve the purposes of the Project.
Subproject Agreements. In financing the carrying out of a Subproject under Part B.1 (a) of the Project, MEPN shall enter into a Subproject Agreement with a Beneficiary.
Subproject Agreements. For purposes of Subproject implementation, operation, and maintenance, the Recipient shall, through the MOIT, enter into a Subproject Agreement with the respective Provincial People’s Committee and the respective Local Electricity Utilities, in accordance with procedures and on terms and conditions acceptable to the Association and as set out in the MOIT Operational Manual for Renewable Energy, which shall include the following: a description of the Subproject, its budget, and the applicable performance indicators; the obligation of the respective Provincial People’s Committee and the respective Local Electricity Utilities to: (A) maintain a financial management system and prepare financial statements in accordance with consistently applied accounting standards acceptable to the Association, both in a manner adequate to reflect the operations, resources, and expenditures related to the Subproject; and (B) at the request of the Recipient, or the Association, have the records relating to the Subproject audited by independent auditors acceptable to the Association, in accordance with consistently applied auditing standards acceptable to the Association, and promptly furnish the records as so audited to the Recipient and the Association; the obligation of the respective Provincial People’s Committee and the respective Local Electricity Utilities to carry out the Subproject in accordance with the provisions of the Anti-Corruption Guidelines applicable to recipients of loan proceeds other than the Recipient; the obligation of the respective Provincial People’s Committee and the respective Local Electricity Utilities to carry out the Subproject in accordance with the provisions of: (i) the MOIT Operational Manual for Renewable Energy, including the Environmental Procedures, the Policy Framework for Compensation, Resettlement, and Rehabilitation of Project Affected Persons, and the Policy Framework for Ethnic Minorities Development Plan; (ii) any environmental impact assessment for the Subproject and any related mitigation measures; (iii) any resettlement action plan for the Subproject; and (iv) any ethnic minorities development plan for the Subproject, and to not, except as the Association shall otherwise agree in writing, assign, amend, abrogate, or waive, or permit to be assigned, amended, abrogated, or waived, the aforementioned, or any provision thereof; the right of the Recipient, through the MOIT, and of the Recipient in its own right, to obtain a refund of...
Subproject Agreements. For purposes of Subproject implementation, operation, and maintenance, the Recipient shall, through the MOIT, enter into a Subproject Agreement with the respective Provincial People’s Committee and the respective Local Electricity Utilities, in accordance with procedures and on terms and conditions acceptable to the Association and as set out in the MOIT Operational Manual for Renewable Energy, which shall include the following:
Subproject Agreements. 1. To facilitate the carrying out of the EFMS’ Respective Activities under the Project, the Recipient shall make the proceeds of the Financing allocated from time to time to Category (2) of the table set forth in Section III.1 of this Schedule available to the EFMS under the respective subproject agreement to be between the Recipient and each such EFMS, under terms and conditions approved by the Association (the “Subproject Agreement”).
2. The Recipient shall exercise its rights under the Subproject Agreement in such manner as to protect the interests of the Recipient and the Association and to accomplish the purposes of the Financing. Except as the Association shall otherwise agree, the Recipient shall not assign, amend, abrogate or waive the Subproject Agreement or any of its provisions.
3. In the event of any conflict between the provisions of the Subproject Agreements and those of this Agreement, the provisions of this Agreement shall govern.