Common use of The Financing Clause in Contracts

The Financing. Section 2.01. The Association agrees to make available to the Borrower, on the terms and conditions set forth or referred to in this Agreement: (a) an amount in various currencies equivalent to four million nine hundred thousand Special Drawing Rights (SDR 4,900,000) (the Credit); and (b) an amount in various currencies equivalent to five million eight hundred thousand Special Drawing Rights (SDR 5,800,000) (the Grant). (a) The amount of the Credit may be withdrawn from the Credit Account and the amount of the Grant may be withdrawn from the Grant Account, in each case, in accordance with the provisions of Schedule 1 to this Agreement for expenditures made (or, if the Association shall so agree, to be made) in respect of the reasonable cost of goods and services required for the Project and to be financed out of the proceeds of the Financing. (b) The Borrower shall open and maintain in Taka, three separate special deposit accounts, for Power Cell (Power Cell Special Account), for ERC (ERC Special Account), and for Petrobangla (Petrobangla Special Account), all in a commercial bank, on terms and conditions satisfactory to the Association, including appropriate protection against set-off, seizure and attachment. Deposits into, and payments out of, each Special Account shall be made in accordance with the provisions of Schedule 5 to this Agreement. Section 2.03. The Closing Date shall be December 31, 2008 or such later date as the Association shall establish. The Association shall promptly notify the Borrower of such later date. (a) The Borrower shall pay to the Association (i) a commitment charge on the principal amount of the Credit not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, but not to exceed the rate of one-half of one percent (1/2 of 1%) per annum; and (ii) a commitment charge on the amount of the Grant not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, such rate not to exceed the rate of one-half of one percent (1/2 of 1%) per annum. (b) The commitment charge shall accrue: (i) from the date sixty days after the date of this Agreement (the accrual date) to the respective dates on which amounts shall be withdrawn by the Borrower from the Credit Account or the Grant Account (as the case may be), or canceled; and (ii) at the rate set as of the June 30 immediately preceding the accrual date and at such other rates as may be set from time to time thereafter pursuant to paragraph (a) above. The rate set as of June 30 in each year shall be applied from the next date in that year specified in Section 2.06 of this Agreement. (c) The commitment charge shall be paid: (i) at such places as the Association shall reasonably request; (ii) without restrictions of any kind imposed by, or in the territory of, the Borrower; and (iii) in the currency specified in this Agreement for the purposes of Section 4.02 of the General Conditions or in such other eligible currency or currencies as may from time to time be designated or selected pursuant to the provisions of that Section. Section 2.05. The Borrower shall pay to the Association a service charge at the rate of three-fourths of one percent (3/4 of 1%) per annum on the principal amount of the Credit withdrawn and outstanding from time to time. Section 2.06. Commitment charges and service charges shall be payable semiannually on June 1 and December 1 in each year. (a) Subject to paragraphs (b), (c) and (d) below, the Borrower shall repay the principal amount of the Credit in semi-annual installments payable on each June 1 and December 1, commencing December 1, 2014, and ending June 1, 2044. Each installment up to and including the installment payable on June 1, 2024 shall be one percent (1%) of such principal amount, and each installment thereafter shall be two percent (2%) of such principal amount.

The Financing. Section 2.01. The Association agrees to make available to the Borrower, on the terms and conditions set forth or referred to in this Agreement: (a) an amount in various currencies equivalent to four million nine hundred thousand Special Drawing Rights (SDR 4,900,000) (the Credit); and (b) an amount in various currencies equivalent to five million eight hundred thousand Special Drawing Rights (SDR 5,800,000) (the Grant). (a) The amount of the Credit may be withdrawn from the Credit Account and the amount of the Grant may be withdrawn from the Grant Account, in each case, in accordance with the provisions of Schedule 1 to this Agreement for expenditures made (or, if the Association shall so agree, to be made) in respect of the reasonable cost of goods and services required for the Project and to be financed out of the proceeds of the Financing. (b) The Borrower shall open and maintain in Taka, three separate special deposit accounts, for Power Cell (Power Cell Special Account), for ERC (ERC Special Account), and for Petrobangla (Petrobangla Special Account), all in a commercial bank, on terms and conditions satisfactory to the Association, including appropriate protection against set-off, seizure and attachment. Deposits into, and payments out of, each Special Account shall be made in accordance with the provisions of Schedule 5 to this Agreement. Section 2.03. The Closing Date shall be December 31, 2008 2008, or such later date as the Association shall establish. The Association shall promptly notify the Borrower of such later date. (a) The Borrower shall pay to the Association Association: (i) a commitment charge on the principal amount of the Credit not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, but not to exceed the rate of one-half of one percent (1/2 of 1%) per annum; and (ii) a commitment charge on the amount of the Grant not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, such rate not to exceed the rate of one-half of one percent (1/2 of 1%) per annum. (b) The commitment charge shall accrue: (i) from the date sixty days after the date of this Agreement (the accrual date) to the respective dates on which amounts shall be withdrawn by the Borrower from the Credit Account or the Grant Account (as the case may be), or canceled; and (ii) at the rate set as of the June 30 immediately preceding the accrual date and at such other rates as may be set from time to time thereafter pursuant to paragraph (a) above. The rate set as of June 30 in each year shall be applied from the next date in that year specified in Section 2.06 of this Agreement. (c) The commitment charge shall be paid: (i) at such places as the Association shall reasonably request; (ii) without restrictions of any kind imposed by, or in the territory of, the Borrower; and (iii) in the currency specified in this Agreement for the purposes of Section 4.02 of the General Conditions or in such other eligible currency or currencies as may from time to time be designated or selected pursuant to the provisions of that Section. Section 2.05. The Borrower shall pay to the Association a service charge at the rate of three-fourths of one percent (3/4 of 1%) per annum on the principal amount of the Credit withdrawn and outstanding from time to time. Section 2.06. Commitment charges and service charges shall be payable semiannually on June 1 and December 1 in each year. (a) Subject to paragraphs (b), (c) and (d) below, the Borrower shall repay the principal amount of the Credit in semi-annual semiannual installments payable on each June 1 and December 1, commencing December 1, 2014, and ending June 1, 2044. Each installment up to and including the installment payable on June 1, 2024 2024, shall be one percent (1%) of such principal amount, and each installment thereafter shall be two percent (2%) of such principal amount.

The Financing. Section 2.01. The Association agrees to make available to the Borroweragrees, on the terms and conditions set forth or referred to in this Agreement: (a) to lend to the Borrower an amount in various currencies equivalent to four twenty million nine two hundred thousand Special Drawing Rights (SDR 4,900,000) (the Credit20,200,000); and (b) to make available to the Borrower an amount in various currencies equivalent to five six million eight seven hundred thousand Special Drawing Rights (SDR 5,800,000) (the Grant6,700,000). (a) The amount of the Credit may be withdrawn from the Credit Account and the amount of the Grant may be withdrawn from the Grant Account, in each case, Account in accordance with the provisions of Schedule 1 to this Agreement for expenditures made (or, if the Association shall so agree, to be made) in respect of the reasonable cost of goods and services required for the Project Project, and amounts paid (or, if the Association shall so agree, to be paid) under Small Grants, and to be financed out of the proceeds of the Financing. (b) The Borrower shall may, for the purposes of the Project, for NACP, Balochistan, NWFP, Punjab, Sindh and AJK, respectively, open and maintain in Taka, three dollars separate special deposit accounts, for Power Cell (Power Cell Special Account), for ERC (ERC Special Account), and for Petrobangla (Petrobangla Special Account), all accounts in a commercial bank, the National Bank of Pakistan on terms and conditions satisfactory to the Association, including appropriate protection against set-set- off, seizure and or attachment. Deposits into, and payments out of, each respective Special Account shall be made in accordance with the provisions of Schedule 5 to this Agreement. Section 2.03. The Closing Date shall be December 31, 2008 2008, or such later date as the Association shall establish. The Association shall promptly notify the Borrower of such later date. (a) The Borrower shall pay to the Association Association: (i) a commitment charge on the principal amount of the Credit not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, but not to exceed the rate of one-half of one percent (1/2 of 1%) per annum; and (ii) a commitment charge on the principal amount of the Grant not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, such rate not to exceed the rate of one-half of one percent (1/2 of 1%) per annum. (b) The Each commitment charge shall accrue: (i) from the date sixty days after the date of this Agreement (the accrual date) to the respective dates on which amounts shall be withdrawn by the Borrower from the Credit Account or the Grant Account (as the case may be), or canceled; and (ii) at the respective rate set as of the June 30 immediately preceding the accrual date and at such other rates as may be set from time to time thereafter pursuant to paragraph (a) above. The rate set as of June 30 in each year shall be applied from the next date in that year specified in Section 2.06 of this Agreement. (c) The Each commitment charge shall be paid: (i) at such places as the Association shall reasonably request; (ii) without restrictions of any kind imposed by, or in the territory of, the Borrower; and (iii) in the currency specified in this Agreement for the purposes of Section 4.02 of the General Conditions or in such other eligible currency or currencies as may from time to time be designated or selected pursuant to the provisions of that Section. Section 2.05. The Borrower shall pay to the Association a service charge at the rate of three-fourths of one percent (3/4 of 1%) per annum on the principal amount of the Credit withdrawn and outstanding from time to time. Section 2.06. Commitment charges and service charges shall be payable semiannually on June 1 15 and December 1 15 in each year. Section 2.07. (a) Subject to paragraphs (b), (c) and (d) below, the Borrower shall repay the principal amount of the Credit in semi-annual semiannual installments payable on each June 1 15 and December 115, commencing December 1June 15, 2014, 2013 and ending June 1December 15, 20442037. Each installment up to and including the installment payable on June 1December 15, 2024 2022, shall be one and one-fourth percent (1-1/4%) of such principal amount, and each installment thereafter shall be two and one-half percent (2-1/2%) of such principal amount.

The Financing. Section 2.01. The Association agrees to make available to the Borroweragrees, on the terms and conditions set forth or referred to in this Agreement: (a) to lend to the Borrower an amount in various currencies equivalent to four twenty million nine two hundred thousand Special Drawing Rights (SDR 4,900,000) (the Credit20,200,000); and (b) to make available to the Borrower an amount in various currencies equivalent to five six million eight seven hundred thousand Special Drawing Rights (SDR 5,800,000) (the Grant6,700,000). (a) The amount of the Credit may be withdrawn from the Credit Account and the amount of the Grant may be withdrawn from the Grant Account, in each case, Account in accordance with the provisions of Schedule 1 to this Agreement for expenditures made (or, if the Association shall so agree, to be made) in respect of the reasonable cost of goods and services required for the Project Project, and amounts paid (or, if the Association shall so agree, to be paid) under Small Grants, and to be financed out of the proceeds of the Financing. (b) The Borrower shall may, for the purposes of the Project, for NACP, Balochistan, NWFP, Punjab, Sindh and AJK, respectively, open and maintain in Taka, three dollars separate special deposit accounts, for Power Cell (Power Cell Special Account), for ERC (ERC Special Account), and for Petrobangla (Petrobangla Special Account), all accounts in a commercial bank, the National Bank of Pakistan on terms and conditions satisfactory to the Association, including appropriate protection against set-off, seizure and or attachment. Deposits into, and payments out of, each respective Special Account shall be made in accordance with the provisions of Schedule 5 to this Agreement. Section 2.03. The Closing Date shall be December 31, 2008 2008, or such later date as the Association shall establish. The Association shall promptly notify the Borrower of such later date. (a) The Borrower shall pay to the Association Association: (i) a commitment charge on the principal amount of the Credit not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, but not to exceed the rate of one-half of one percent (1/2 of 1%) per annum; and (ii) a commitment charge on the principal amount of the Grant not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, such rate not to exceed the rate of one-half of one percent (1/2 of 1%) per annum. (b) The Each commitment charge shall accrue: (i) from the date sixty days after the date of this Agreement (the accrual date) to the respective dates on which amounts shall be withdrawn by the Borrower from the Credit Account or the Grant Account (as the case may be), or canceled; and (ii) at the respective rate set as of the June 30 immediately preceding the accrual date and at such other rates as may be set from time to time thereafter pursuant to paragraph (a) above. The rate set as of June 30 in each year shall be applied from the next date in that year specified in Section 2.06 of this Agreement. (c) The Each commitment charge shall be paid: (i) at such places as the Association shall reasonably request; (ii) without restrictions of any kind imposed by, or in the territory of, the Borrower; and (iii) in the currency specified in this Agreement for the purposes of Section 4.02 of the General Conditions or in such other eligible currency or currencies as may from time to time be designated or selected pursuant to the provisions of that Section. Section 2.05. The Borrower shall pay to the Association a service charge at the rate of three-fourths of one percent (3/4 of 1%) per annum on the principal amount of the Credit withdrawn and outstanding from time to time. Section 2.06. Commitment charges and service charges shall be payable semiannually on June 1 15 and December 1 15 in each year. Section 2.07. (a) Subject to paragraphs (b), (c) and (d) below, the Borrower shall repay the principal amount of the Credit in semi-annual semiannual installments payable on each June 1 15 and December 115, commencing December 1June 15, 2014, 2013 and ending June 1December 15, 20442037. Each installment up to and including the installment payable on June 1December 15, 2024 2022, shall be one and one-fourth percent (1-1/4%) of such principal amount, and each installment thereafter shall be two and one-half percent (2-1/2%) of such principal amount.

The Financing. Section 2.01. The Association agrees to make available to the Borrower, on the terms and conditions set forth or referred to in this Agreement: (a) an amount in various currencies equivalent to twelve million four million nine hundred thousand Special Drawing Rights (SDR 4,900,00012,400,000) (the Credit); and (b) an amount in various currencies equivalent to five two million eight three hundred thousand Special Drawing Rights (SDR 5,800,0002,300,000) (the Grant). (a) The amount of the Credit may be withdrawn from the Credit Account and the amount of the Grant may be withdrawn from the Grant Account, in each case, case in accordance with the provisions of Schedule 1 to this Agreement Agreement, for expenditures made (or, if the Association shall so agree, to be made) in respect of the reasonable cost of goods goods, works and services required for the Project and to be financed out of the proceeds of the Financing. (b) The Borrower shall may, for the purposes of the Project, open and maintain in TakaDollars, three separate a special deposit accountsaccount, for Power Cell (Power Cell Special Account)in the National Bank of Cambodia, for ERC (ERC Special Account), and for Petrobangla (Petrobangla Special Account), all in or a commercial bank, bank on terms and conditions satisfactory to the Association, including in the case of a commercial bank, appropriate protection against set-off, seizure and or attachment: PPWSA Special Account for Part B of the Project. Deposits into, and payments out of, each of said Special Account shall be made in accordance with the provisions of Schedule 5 4 to this Agreement. Section 2.03. The Closing Date shall be December 31June 30, 2008 2011 or such later date as the Association shall establish. The Association shall promptly notify the Borrower of such later date. (a) The Borrower shall pay to the Association Association: (i) a commitment charge on the principal amount of the Credit not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, but such rate not to exceed the rate of one-half of one percent (1/2 of 1%) per annum; and (ii) a commitment charge on the principal amount of the Grant not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, such rate not to exceed the rate of one-half of one percent (1/2 of 1%) per annum. (b) The Each commitment charge shall accrue: (i) from the date sixty days after the date of this Agreement (the accrual date) to the respective dates on which amounts shall be withdrawn by the Borrower from the Credit Account or the Grant Account (as the case may be), or canceled; and (ii) at the respective rate set as of the June 30 immediately preceding the accrual date and at such other rates as may be set from time to time thereafter pursuant to paragraph (a) above. The respective rate set as of June 30 in each year shall be applied from the next date in that year specified in Section 2.06 of this Agreement. (c) The Each commitment charge shall be paid: (i) at such places as the Association shall reasonably request; (ii) without restrictions of any kind imposed by, or in the territory of, the Borrower; and (iii) in the currency specified in this Agreement for the purposes of Section 4.02 of the General Conditions or in such other eligible currency or currencies as may from time to time be designated or selected pursuant to the provisions of that Section. Section 2.05. The Borrower shall pay to the Association a service charge at the rate of three-fourths of one percent (3/4 of 1%) per annum on the principal amount of the Credit withdrawn and outstanding from time to time. Section 2.06. Commitment charges and service charges shall be payable semiannually on June February 1 and December August 1 in each year. (a) Subject to paragraphs (b), (c) and (d) below, the Borrower shall repay the principal amount of the Credit in semi-annual semiannual installments payable on each June February 1 and December August 1 commencing August 1, commencing December 2013 and ending February 1, 2014, and ending June 1, 20442043. Each installment up to and including the installment payable on June February 1, 2024 2023 shall be one percent (1%) of such principal amount, and each installment thereafter shall be two percent (2%) of such principal amount.

The Financing. Section 2.01. The Association agrees to make available to the Borrower, on the terms and conditions set forth or referred to in this Agreement: (a) an amount in various currencies equivalent to four million twenty-seven million, nine hundred thousand Special Drawing Rights (SDR 4,900,00027,900,000) (the Credit); and (b) an amount in various currencies equivalent to five million eight seventeen million, four hundred thousand Special Drawing Rights (SDR 5,800,00017,400,000) (the Grant). (a) The amount of the Credit may be withdrawn from the Credit Account and the amount of the Grant may be withdrawn from the Grant Account, in each case, case in accordance with the provisions of Schedule 1 to this Agreement Agreement, for expenditures made (or, if the Association shall so agree, to be made) in respect of the reasonable cost of goods of: (i) goods, works and services required for Subprograms under the Project and to be financed out of the proceeds of the Financing; and (ii) amounts paid (or if the Association shall so agree, to be paid) by the Borrower on account of withdrawals made for the benefit of CHF Grant Beneficiaries under the CHF Grant Agreements to meet the reasonable cost of goods, works and services required for CHF Grants. (b) The Borrower shall may, for the purposes of the Project, open and maintain in Taka, three Dollars a separate special deposit accounts, for Power Cell (Power Cell Special Account), for ERC (ERC Special Account), and for Petrobangla (Petrobangla Special Account), all account in a commercial bank, bank on terms and conditions satisfactory to the Association, including appropriate protection against set-off, seizure and or attachment. Deposits into, and payments out of, each of the Special Account shall be made in accordance with the provisions of Schedule 5 to this Agreement. Section 2.03. The Closing Date shall be December 31, 2008 2007, or such later date as the Association shall establish. The Association shall promptly notify the Borrower of such later date. (a) The Borrower shall pay to the Association Association: (i) a commitment charge on the principal amount of the Credit not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, but such rate not to exceed the rate of one-half of one percent (1/2 of 1%) per annum; and (ii) a commitment charge on the principal amount of the Grant not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, such rate not to exceed the rate of one-half of one percent (1/2 of 1%) per annum. (b) The Each commitment charge shall accrue: (i) from the date sixty days after the date of this Agreement (the accrual date) to the respective dates on which amounts shall be withdrawn by the Borrower from the Credit Account or the Grant Account (as the case may be), or canceled; and (ii) at the respective rate set as of the June 30 immediately preceding the accrual date and at such other rates as may be set from time to time thereafter pursuant to paragraph (a) above. The respective rate set as of June 30 in each year shall be applied from the next date in that year specified in Section 2.06 of this Agreement. (c) The Each commitment charge shall be paid: (i) at such places as the Association shall reasonably request; (ii) without restrictions of any kind imposed by, or in the territory of, the Borrower; and (iii) in the currency specified in this Agreement for the purposes of Section 4.02 of the General Conditions or in such other eligible currency or currencies as may from time to time be designated or selected pursuant to the provisions of that Section. Section 2.05. The Borrower shall pay to the Association a service charge at the rate of three-fourths of one percent (3/4 of 1%) per annum on the principal amount of the Credit withdrawn and outstanding from time to time. Section 2.06. Commitment charges and service charges shall be payable semiannually on June 1 March 15 and December 1 September 15 in each year. Section 2.07. (a) Subject to paragraphs (b), (c) and (d) below, the Borrower shall repay the principal amount of the Credit in semi-annual semiannual installments payable on each June 1 March 15 and December 1September 15 commencing March 15, commencing December 1, 2014, 2014 and ending June 1September 15, 20442043. Each installment up to and including the installment payable on June 1September 15, 2024 2023 shall be one percent (1%) of such principal amount, and each installment thereafter shall be two percent (2%) of such principal amount.