Common use of Subsidiary Agreements Clause in Contracts

Subsidiary Agreements. (a) To facilitate the carrying out of Parts A and D1 of the Project, the Recipient shall make part of the proceeds of the Financing available to EGCB under a subsidiary loan agreement between the Recipient and EGCB, under terms and conditions approved by the Association, which shall include repayment of the loan over a period of twenty (20) years, inclusive of a grace period of five (5) years, with payment of interest on the principal amount of the loan, withdrawn and outstanding, at the rate of three percent (3%) payable on local currency and four percent (4%) on foreign currency (“EGCB Subsidiary Agreement”). (b) To facilitate the carrying out of Parts B and D2 of the Project, the Recipient shall make part of the proceeds of the Financing available to PGCB under a subsidiary loan agreement between the Recipient and PGCB, under terms and conditions approved by the Association, which shall include repayment of the loan over a period of twenty (20) years, inclusive of a grace period of five (5) years, with payment of interest on the principal amount of the loan, withdrawn and outstanding, at the rate of three percent (3%) payable on local currency and four percent (4%) on foreign currency (“PGCB Subsidiary Agreement”). (c) To facilitate the carrying out of Parts C and D3 of the Project, the Recipient shall make part of the proceeds of the Financing available to GTCL under a subsidiary loan agreement between the Recipient and GTCL, under terms and conditions approved by the Association, which shall include repayment of the loan over a period of twenty (20) years, inclusive of a grace period of five (5) years, with payment of interest on the principal amount of the loan, withdrawn and outstanding, at the rate of four percent (4%) payable on local currency and five percent (5%) on foreign currency (“GTCL Subsidiary Agreement”). 2. The Recipient shall exercise its rights under the Subsidiary Agreements 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 Subsidiary Agreements or any of its provisions.

Subsidiary Agreements. (a) 1. To facilitate the carrying out of the Project Implementing Entities’ Respective Parts A and D1 of the Project, the Recipient shall make part of the proceeds of the Additional Financing available to EGCB each of the Project Implementing Entities under a subsidiary loan agreement between the Recipient and EGCBeach of the Project Implementing Entities (“Additional Financing Subsidiary Agreement”), under terms and conditions approved by the Association, which shall include include: (a) repayment of the loan proceeds of the Additional Financing (i) by EVN over a period of twenty (20) years, inclusive of a grace period of five (5) years, with and (ii) by Northern Power Corporation, Southern Power Corporation, and Central Power Corporation over a period of twenty-five (25) years, inclusive of a grace period of seven (7) years; (b) payment of interest on the principal amount of the loan, Additional Financing withdrawn and outstanding, outstanding from time to time under the respective Additional Financing Subsidiary Agreement (i) by EVN at the rate of three 5.9 percent per annum, and (3%ii) payable on local currency by Northern Power Corporation, Southern Power Corporation, and four Central Power Corporation at the rate of 0.75 percent (4%) on foreign currency (“EGCB Subsidiary Agreement”).per annum; (bc) To facilitate the carrying out of Parts B and D2 of the Project, the Recipient shall make part of the proceeds of the Financing available to PGCB under a subsidiary loan agreement between the Recipient and PGCB, under terms and conditions approved by the Association, which shall include repayment of the loan over a period of twenty (20) years, inclusive payment of a grace period of five (5) years, with payment of interest service charge on the principal amount of the loan, Additional Financing withdrawn and outstandingoutstanding from time to time under the respective Additional Financing Subsidiary Agreement by Northern Power Corporation, Southern Power Corporation, and Central Power Corporation at the rate of three 0.25 percent (3%) payable on local currency and four percent (4%) on foreign currency (“PGCB Subsidiary Agreement”).per annum; (cd) To facilitate the carrying out of Parts C and D3 of the Project, the Recipient shall make part of the proceeds of the Financing available to GTCL under a subsidiary loan agreement between the Recipient and GTCL, under terms and conditions approved by the Association, which shall include repayment of the loan over a period of twenty (20) years, inclusive payment of a grace period of five (5) years, with payment of interest commitment charge on the principal amount of the loanAdditional Financing remaining un-withdrawn from time to time under the respective Additional Financing Subsidiary Agreement at a rate equal to that payable by the Recipient pursuant to Section 2.03 of this Agreement; (e) the obligation to ensure that the Project is carried out in accordance with the provisions of the Anti-Corruption Guidelines applicable to recipients of loan proceeds other than the Recipient; (f) the obligation to ensure that the Project is carried out in accordance with the provisions of the Project Implementation Plan, withdrawn and outstandingto not, at except as the rate 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; (g) the obligation to ensure that procurement of four percent the goods, works, and services required for the Project is carried out in accordance with the provisions of Section III of this Schedule 2, as said provisions may be further elaborated in the Procurement Plan; and (4%h) payable on local currency the obligation to ensure that the Project is carried out in accordance with the provisions of the Environmental Guidelines for Transmission and five percent (5%) on foreign currency (“GTCL Subsidiary Agreement”)Distribution Subprojects, the EIAs, any environmental management plans, the Policy Framework for Compensation, Resettlement, and Rehabilitation of Project Affected Persons, the RAPs, any additional resettlement action plans, the Policy Framework for Ethnic Minorities Development Plan, the EMDPs, and any additional ethnic minorities development plans, 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. 2. The Recipient shall exercise its rights under the Subsidiary Agreements 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 agreeagree in writing, the Recipient shall not assign, amend, abrogate or waive the Subsidiary Agreements or any of its their provisions.

Subsidiary Agreements. (a) 1. To facilitate the carrying out of the Project Implementing Entities’ Respective Parts A and D1 of the Project, the Recipient shall make part of the proceeds of the Additional Financing available to EGCB each of the Project Implementing Entities under a subsidiary loan agreement between the Recipient and EGCBeach of the Project Implementing Entities (“Additional Financing Subsidiary Agreement”), under terms and conditions approved by the Association, which shall include include: repayment of the loan proceeds of the Additional Financing (i) by EVN over a period of twenty (20) years, inclusive of a grace period of five (5) years, with and (ii) by Northern Power Corporation, Southern Power Corporation, and Central Power Corporation over a period of twenty-five (25) years, inclusive of a grace period of seven (7) years; payment of interest on the principal amount of the loan, Additional Financing withdrawn and outstanding, outstanding from time to time under the respective Additional Financing Subsidiary Agreement (i) by EVN at the rate of three 5.9 percent per annum, and (3%ii) payable on local currency by Northern Power Corporation, Southern Power Corporation, and four Central Power Corporation at the rate of 0.75 percent (4%) on foreign currency (“EGCB Subsidiary Agreement”). (b) To facilitate the carrying out of Parts B and D2 of the Project, the Recipient shall make part of the proceeds of the Financing available to PGCB under a subsidiary loan agreement between the Recipient and PGCB, under terms and conditions approved by the Association, which shall include repayment of the loan over a period of twenty (20) years, inclusive per annum; payment of a grace period of five (5) years, with payment of interest service charge on the principal amount of the loan, Additional Financing withdrawn and outstandingoutstanding from time to time under the respective Additional Financing Subsidiary Agreement by Northern Power Corporation, Southern Power Corporation, and Central Power Corporation at the rate of three 0.25 percent (3%) payable on local currency and four percent (4%) on foreign currency (“PGCB Subsidiary Agreement”). (c) To facilitate the carrying out of Parts C and D3 of the Project, the Recipient shall make part of the proceeds of the Financing available to GTCL under a subsidiary loan agreement between the Recipient and GTCL, under terms and conditions approved by the Association, which shall include repayment of the loan over a period of twenty (20) years, inclusive per annum; payment of a grace period of five (5) years, with payment of interest commitment charge on the principal amount of the loanAdditional Financing remaining un-withdrawn from time to time under the respective Additional Financing Subsidiary Agreement at a rate equal to that payable by the Recipient pursuant to Section 2.03 of this Agreement; the obligation to ensure that the Project is carried out in accordance with the provisions of the Anti-Corruption Guidelines applicable to recipients of loan proceeds other than the Recipient; the obligation to ensure that the Project is carried out in accordance with the provisions of the Project Implementation Plan, withdrawn and outstandingto not, at except as the rate 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 obligation to ensure that procurement of four percent (4%) payable on local currency the goods, works, and five percent (5%) on foreign currency (“GTCL Subsidiary Agreement”)services required for the Project is carried out in accordance with the provisions of Section III of this Schedule 2, as said provisions may be further elaborated in the Procurement Plan; and the obligation to ensure that the Project is carried out in accordance with the provisions of the Environmental Guidelines for Transmission and Distribution Subprojects, the EIAs, any environmental management plans, the Policy Framework for Compensation, Resettlement, and Rehabilitation of Project Affected Persons, the RAPs, any additional resettlement action plans, the Policy Framework for Ethnic Minorities Development Plan, the EMDPs, and any additional ethnic minorities development plans, 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. 2. The Recipient shall exercise its rights under the Subsidiary Agreements 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 agreeagree in writing, the Recipient shall not assign, amend, abrogate or waive the Subsidiary Agreements or any of its their provisions.