The Borrower shall a) Give a declaration to the effect that the Borrower has a clear and marketable title to the property offered as security which is free from all reasonable doubts and encumbrances and that the Borrower indemnifies and keeps BANK saved and harmless against any risk whatsoever.
b) Execute any such agreement/s, document/s, undertaking/s that may be required now or hereafter at any time during the pendency of this loan or any other loan or loans granted by Bank hereafter.
c) Execute a power of attorney in favour of Bank in the form prescribed by Bank.
d) Obtain such approval/permissions/consent/no-objection certificate as may be necessary for creation for the mortgage in favour of Bank, from the authorities/bodies/persons concerned.
The Borrower shall. (a) establish and maintain a Project monitoring and information system, satisfactory to the Bank (the MIS), to enable it to monitor and evaluate on an on-going basis, in accordance with the performance indicators set forth in the Operational Manual, the carrying out of the Project and the achievement of the objective thereof;
(b) prepare, under terms of reference satisfactory to the Bank, and furnish to the Bank, not later than six months after the Effective Date, the baseline evaluation study referred to in Part D.4 of the Project;
(c) prepare, under terms of reference satisfactory to the Bank, and furnish to the Bank, not later than twelve months after the Effective Date and yearly thereafter during Project implementation, a report integrating the results of the monitoring and evaluation activities performed pursuant to paragraph (a) of this Section, on the progress achieved in the carrying out of the Project during the period preceding the date of such report and setting out the measures recommended to ensure the efficient carrying out of the Project and the achievement of the objective thereof during the period following such date; and
(d) review such report with the Bank promptly after its preparation, and, thereafter, take all measures required to ensure the efficient completion of the Project and the achievement of the objective thereof, based on the conclusions and recommendations of the said report and the Bank’s views on the matter.
The Borrower shall. Conduct the Borrower's operations and keep and maintain all of its properties in compliance with all Environmental Laws.
The Borrower shall. (a) make full and timely payments of the principal and interest due and owing under the Note and the Indebtedness of the Borrower to the Lender, whether now existing or hereafter arising; (b) duly comply with all of the terms and covenants contained in each of the Loan Documents; and (c) at all times maintain the liens and security interests provided for under or pursuant to this Agreement and all other applicable Loan Documents as valid and perfected liens and security interests on the property intended to be covered thereby.
The Borrower shall. (i) open and maintain a Project Account at BNR on terms and conditions satisfactory to the Association; (ii) promptly thereafter make an initial deposit into the Project Account in an amount equivalent to $50,000 to finance the Borrower’s initial contributions to the costs of the Project; (iii) make the following deposits into the Project Account: (A) an amount equivalent to $200,000 no later than six months after the beginning of the first Project Year, and (B) an amount equivalent to $250,000 no later than one month after the beginning of the second, third and fourth Project Years; and (iv) use the funds deposited in the Project Account exclusively for purposes of the Project.
The Borrower shall. 1. Within 5 days after the date hereof deliver to the Trustee a written confirmation addressed to the Trustee by Gilat that the Trustee is registered in the Notes' Registry of Gilat as the Holder and Owner of the Notes and that it has received the Notice of the Assignment of Rights under the Agreements.
2. Within 14 days of the Disbursement Date, as defined in the Loan Agreement, deliver to the Trustee a confirmation from the appropriate registrar, confirming that the Pledge, as defined in the Loan Agreement, has been registered with the appropriate registrar office in accordance with the applicable law. The Notes, the confirmations, the Agreements and the letter of assignment shall hereinafter, unless the context shall otherwise require, be referred to as "the Documents".
The Borrower shall a. Deposit its funds in government Banks or any established bank duly approved by NEA.
b. Select an auditing firm from a list of NEA accredited external auditors.
c. Provide adequate coverage for all insurable assets.
d. Appoint a general manager or designate an OIC subject to the confirmation of NEA, who shall not be suspended or dismissed without prior written approval of NEA. General Manager
The Borrower shall. (a) establish and maintain under the supervision of MIEE a unit central project (the UCP) with responsibilities for supervising and coordinating the execution of the Project and with qualified and experienced staff in numbers and having functions satisfactory to the Association;
The Borrower shall. (a) For the purposes of providing the Borrower with general guidance in respect of the Project, establish and thereafter maintain within SRH, until the completion of the Project, an advisory body with terms of reference as set forth in the Operational Manual, and the following composition: (i) two representatives from SRH, one of such representatives to be the President of such advisory body; (ii) one representative from each of the Participating Entities; (iii) the Coordinator-General of the SPMU; and (iv) two independent experts with experience and qualifications acceptable to the Bank and appointed by the Borrower’s Governor.
(b) Establish and thereafter maintain within SRH, until the completion of the Project, the SPMU with responsibilities, structure and functions as set forth in the relevant sections of the Operational Manual and with staff in adequate numbers and with adequate qualifications, for the purpose of, inter alia: (i) assisting SRH in the overall coordination and carrying out of the Project; and (ii) preparing the Annual Operating Plans and submitting them to the Bank for approval.
(a) For the purposes of the overall carrying out of the Project, the Borrower, through SRH, shall enter into an agreement, satisfactory to the Bank (the Operating Agreement), with each Participating Entity to govern such entity’s overall responsibilities in the carrying out of its activities under the Project.
(b) The Borrower shall exercise its rights and comply with its obligations under each Operating Agreement in such a manner as to protect the interests of the Borrower and the Bank, and, except as the Bank shall otherwise agree, the Borrower shall not amend, suspend, abrogate, waive or fail to enforce any of the Operating Agreements, or any provision thereof.
The Borrower shall. 16.1.1 as soon as the same become available, but in any event within 90 (ninety) days after the end of each of its financial years during the Term, deliver a copy of its audited annual financial statements to the Lender for such financial year; and
16.1.2 on the written request of the Lender, furnish the Lender with such information about its financial condition as the Lender may reasonably require.
