Common use of Transfers to Partner Entities and Secretariat Clause in Contracts

Transfers to Partner Entities and Secretariat. 5.1 The Trustee shall, subject to Section B.9.1 below, commit up to the maximum amount of the Trust Fund funds allocated by the Steering Committee and transfer such amount: (a) to the Partner Entities, including the World Bank in its role as a Partner Entity, in accordance with the Transfer Agreements and (b) to the Secretariat in accordance with the MOU. 5.2 The Trustee shall, as trustee on behalf of the Donors, enter into Transfer Agreements for the purposes of this Agreement on the terms and conditions set forth in the Transfer Agreement. The Steering Committee shall approve any material change to the form of the Transfer Agreement. The Trustee shall furnish a copy of each executed Transfer Agreement to the Donors. 5.3 The Transfer Agreement(s) shall provide that each Partner Entity shall be responsible for: (a) the use of the Trust Fund funds transferred to it and Activities carried out therewith in accordance with: (i) its policies and procedures (including those in respect of maintaining its tax exempt status, the procurement of goods and services, reporting arrangements and its framework to combat fraud and corruption); and (ii) the applicable decisions of the Steering Committee, including the purpose for which the Allocations of the funds have been approved; (b) maintaining books, records, documents, and other evidence in accordance with its usual accounting procedures to sufficiently substantiate the use of the Trust Fund funds transferred to it; (c) requiring the Government of Haiti to maintain a dedicated account for any funds used to provide budget support; and (d) reporting to the Steering Committee on the Project and/or Program of Activities in accordance with the terms of the Governance Document.

Appears in 6 contracts

Samples: Trust Fund Administration Agreement, Administration Agreement, Trust Fund Administration Agreement

AutoNDA by SimpleDocs

Transfers to Partner Entities and Secretariat. 5.1 The Trustee shall, subject to Section B.9.1 below, commit up to the maximum amount of the Trust Fund funds allocated by the Steering Committee and transfer such amount: (a) to the Partner Entities, including the World Bank in its role as a Partner Entity, in accordance with the Transfer Agreements and (b) to the Secretariat in accordance with the MOU. 5.2 The Trustee shall, as trustee on behalf of the Donors, enter into Transfer Agreements for the purposes of this Agreement on the terms and conditions set forth in the Transfer Agreement. The Steering Committee shall approve any material change to the form of the Transfer Agreement. The Trustee shall furnish a copy of each executed Transfer Agreement to the Donors. 5.3 The Transfer Agreement(s) shall provide that each Partner Entity shall be responsible for: (a) the use of the Trust Fund funds transferred to it and Activities carried out therewith in accordance with: (i) its policies and procedures (including those in respect of maintaining its tax exempt status, the procurement of goods and services, reporting arrangements and its framework to combat fraud and corruption); and (ii) the applicable decisions of the Steering Committee, including the purpose for which the Allocations of the funds have been approved; (b) maintaining books, records, documents, and other evidence in accordance with its usual accounting procedures to sufficiently substantiate the use of the Trust Fund funds transferred to it; (c) requiring the Government of Haiti to maintain a dedicated account for any funds used to provide budget support; and (d) reporting to the Steering Committee on the Project and/or Program of Activities in accordance with the terms of the Governance Document. 5.4 Recognizing the obligations of the Donors under various United Nations Security Council Resolutions and the Donors’ intent that the Trust Fund funds not be used to finance drug traffickers or terrorists or corrupt persons, the Trustee will include in each Transfer Agreement a requirement that the Partner Entity: (a) undertakes to use reasonable efforts, consistent with its policies and procedures, including those pertaining to combating financing for terrorists, to ensure that the Trust Fund funds provided to the Partner Entity by the Trustee are used for their intended purposes and are not diverted to terrorists or their agents; (b) will not use Trust Fund funds for the purpose of any payment to persons or entities, or for the import of goods, if such payment or import is prohibited by a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations, including under United Nations Security Council Resolution 1373 and related resolutions; (c) will confirm that, given the activities to be funded with the funds provided to the Partner Entity, the Partner Entity does not believe that any such funds would be diverted to drug traffickers and their conspirators; and (d) will include provisions corresponding to subparagraphs (a) – (c) above in any sub-grant agreements that the Partner Entity enters into with entities to which the Partner Entity makes Trust Fund funds available. 5.5 Such Transfer Agreement shall also name the Donors as third party beneficiaries with direct rights on the part of the Donors to seek recourse under the Transfer Agreement and will provide the Trustee with the rights of novation and assignment to enable the Donors to seek direct recourse against a Partner Entity. 5.6 The Trustee shall also include in each Transfer Agreement that the Partner Entity may invite the Donors to participate in its supervision missions related to the Trust Fund and that, if any Donor wishes to request to review or evaluate Activities of a Partner Entity financed by the Trust Fund, the Donor and the Partner Entity shall agree on the scope and conduct of such review or evaluation, and the Partner Entity shall provide all relevant information within the limits of its policies and procedures. It is understood that any such review or evaluation will not constitute a financial compliance or other audit of the Trust Fund. All associated costs will be borne by the Donor, unless otherwise agreed. 5.7 The Trustee shall require, and accept from, the Partner Entities that have received Trust Fund funds from the Trustee, periodic unaudited financial reports and/or an audited financial report, as well as other relevant financial information, as required by the Steering Committee. 5.8 For transfers to Partner Entities, the Bank’s role shall be solely as Trustee of the Trust Fund, unless the Bank itself is the Partner Entity. The Trustee shall have no responsibility for implementation of Activities following disbursement of such funds to any Partner Entity. 5.9 The Trustee shall disburse funds to a Partner Entity as requested by the Steering Committee. The disbursements shall be based on Projects and/or Programs and budgets submitted by a Partner Entity through the Secretariat and approved by the Steering Committee. 5.10 In the event that the Steering Committee shall have decided to withhold disbursements for reasons set out in the Governance Document, the Trustee shall claim repayment in full or in part directly from the Partner Entity as set forth in the Transfer Agreement.

Appears in 2 contracts

Samples: Trust Fund Administration Agreement, Trust Fund Administration Agreement

Transfers to Partner Entities and Secretariat. 5.1 The Trustee shall, subject to Section B.9.1 below, commit up to the maximum amount of the Trust Fund funds allocated by the Steering Committee and transfer such amount: (a) to the Partner Entities, including the World Bank in its role as a Partner Entity, in accordance with the Transfer Agreements and (b) to the Secretariat in accordance with the MOU. 5.2 The Trustee shall, as trustee on behalf of the Donors, enter into Transfer Agreements for the purposes of this Agreement on the terms and conditions set forth in the Transfer Agreement. The Steering Committee shall approve any material change to the form of the Transfer Agreement. The Trustee shall furnish a copy of each executed Transfer Agreement to the Donors. 5.3 The Transfer Agreement(s) shall provide that each Partner Entity shall be responsible for: (a) the use of the Trust Fund funds transferred to it and Activities carried out therewith in accordance with: (i) its policies and procedures (including those in respect of maintaining its tax exempt status, the procurement of goods and services, reporting arrangements and its framework to combat fraud and corruption); and (ii) the applicable decisions of the Steering Committee, including the purpose for which the Allocations of the funds have been approved; (b) maintaining books, records, documents, and other evidence in accordance with its usual accounting procedures to sufficiently substantiate the use of the Trust Fund funds transferred to it; (c) requiring the Government of Haiti to maintain a dedicated account for any funds used to provide budget support; and (d) reporting to the Steering Committee on the Project and/or Program of Activities in accordance with the terms of the Governance Document. 5.4 Recognizing the obligations of the Donors under various United Nations Security Council Resolutions and the Donors’ intent that the Trust Fund funds not be used to finance drug traffickers or terrorists or corrupt persons, the Trustee will include in each Transfer Agreement a requirement that the Partner Entity: (a) undertakes to use reasonable efforts, consistent with its policies and procedures, including those pertaining to combating financing for terrorists, to ensure that the Trust Fund funds provided to the Partner Entity by the Trustee are used for their intended purposes and are not diverted to terrorists or their agents; (b) will not use Trust Fund funds for the purpose of any payment to persons or entities, or for the import of goods, if such payment or import is prohibited by a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations, including under United Nations Security Council Resolution 1373 and related resolutions; (c) will confirm that, given the activities to be funded with the funds provided to the Partner Entity, the Partner Entity does not believe that any such funds would be diverted to drug traffickers and their conspirators; and (d) will include provisions corresponding to subparagraphs (a) – (c) above in any sub- grant agreements that the Partner Entity enters into with entities to which the Partner Entity makes Trust Fund funds available. 5.5 Such Transfer Agreement shall also name the Donors as third party beneficiaries with direct rights on the part of the Donors to seek recourse under the Transfer Agreement and will provide the Trustee with the rights of novation and assignment to enable the Donors to seek direct recourse against a Partner Entity. 5.6 The Trustee shall also include in each Transfer Agreement that the Partner Entity may invite the Donors to participate in its supervision missions related to the Trust Fund and that, if any Donor wishes to request to review or evaluate Activities of a Partner Entity financed by the Trust Fund, the Donor and the Partner Entity shall agree on the scope and conduct of such review or evaluation, and the Partner Entity shall provide all relevant information within the limits of its policies and procedures. It is understood that any such review or evaluation will not constitute a financial compliance or other audit of the Trust Fund. All associated costs will be borne by the Donor, unless otherwise agreed. 5.7 The Trustee shall require, and accept from, the Partner Entities that have received Trust Fund funds from the Trustee, periodic unaudited financial reports and/or an audited financial report, as well as other relevant financial information, as required by the Steering Committee. 5.8 For transfers to Partner Entities, the Bank’s role shall be solely as Trustee of the Trust Fund, unless the Bank itself is the Partner Entity. The Trustee shall have no responsibility for implementation of Activities following disbursement of such funds to any Partner Entity. 5.9 The Trustee shall disburse funds to a Partner Entity as requested by the Steering Committee. The disbursements shall be based on Projects and/or Programs and budgets submitted by a Partner Entity through the Secretariat and approved by the Steering Committee. 5.10 In the event that the Steering Committee shall have decided to withhold disbursements for reasons set out in the Governance Document, the Trustee shall claim repayment in full or in part directly from the Partner Entity as set forth in the Transfer Agreement.

Appears in 1 contract

Samples: Trust Fund Administration Agreement

Transfers to Partner Entities and Secretariat. 5.1 The Trustee shall, subject to Section B.9.1 below, commit up to the maximum amount of the Trust Fund funds allocated by the Steering Committee and transfer such amount: (a) to the Partner Entities, including the World Bank in its role as a Partner Entity, in accordance with the Transfer Agreements Agreements; and (b) to the Secretariat in accordance with the MOU. 5.2 The Trustee shall, as trustee on behalf of the Donors, enter into Transfer Agreements for the purposes of this Agreement on the terms and conditions set forth in the Transfer Agreement. The Steering Committee shall approve any material change to the form of the Transfer Agreement. The Trustee shall furnish a copy of each executed Transfer Agreement to the Donors. 5.3 The Transfer Agreement(s) shall provide that each Partner Entity shall be responsible for: (a) the use of the Trust Fund funds transferred to it and Activities carried out therewith in accordance with: (i) its policies and procedures (including those in respect of maintaining its tax exempt status, the procurement of goods and services, reporting arrangements and its framework to combat fraud and corruption); and (ii) the applicable decisions of the Steering Committee, including the purpose for which the Allocations of the funds have been approved; (b) maintaining books, records, documents, and other evidence in accordance with its usual accounting procedures to sufficiently substantiate the use of the Trust Fund funds transferred to it; (c) requiring the Government of Haiti to maintain a dedicated account for any funds used to provide budget support; and (d) reporting to the Steering Committee on the Project and/or Program of Activities in accordance with the terms of the Governance Document. 5.4 Recognizing the obligations of the Donors under various United Nations Security Council Resolutions and the Donors’ intent that the Trust Fund funds not be used to finance drug traffickers or terrorists or corrupt persons, the Trustee will include in each Transfer Agreement a requirement that the Partner Entity: (a) undertakes to use reasonable efforts, consistent with its policies and procedures, including those pertaining to combating financing for terrorists, to ensure that the Trust Fund funds provided to the Partner Entity by the Trustee are used for their intended purposes and are not diverted to terrorists or their agents; (b) will not use Trust Fund funds for the purpose of any payment to persons or entities, or for the import of goods, if such payment or import is prohibited by a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations, including under United Nations Security Council Resolution 1373 and related resolutions; (c) will confirm that, given the activities to be funded with the funds provided to the Partner Entity, the Partner Entity does not believe that any such funds would be diverted to drug traffickers and their conspirators; and (d) will include provisions corresponding to subparagraphs (a) – (c) above in any sub-grant agreements that the Partner Entity enters into with entities to which the Partner Entity makes Trust Fund funds available. 5.5 Such Transfer Agreement shall also name the Donors as third party beneficiaries with direct rights on the part of the Donors to seek recourse under the Transfer Agreement and will provide the Trustee with the rights of novation and assignment to enable the Donors to seek direct recourse against a Partner Entity. 5.6 The Trustee shall also include in each Transfer Agreement that the Partner Entity may invite the Donors to participate in its supervision missions related to the Trust Fund and that, if any Donor wishes to request to review or evaluate Activities of a Partner Entity financed by the Trust Fund, the Donor and the Partner Entity shall agree on the scope and conduct of such review or evaluation, and the Partner Entity shall provide all relevant information within the limits of its policies and procedures. It is understood that any such review or evaluation will not constitute a financial compliance or other audit of the Trust Fund. All associated costs will be borne by the Donor, unless otherwise agreed. 5.7 The Trustee shall require, and accept from, the Partner Entities that have received Trust Fund funds from the Trustee, periodic unaudited financial reports and/or an audited financial report, as well as other relevant financial information, as required by the Steering Committee. 5.8 For transfers to Partner Entities, the Bank’s role shall be solely as Trustee of the Trust Fund, unless the Bank itself is the Partner Entity. The Trustee shall have no responsibility for implementation of Activities following disbursement of such funds to any Partner Entity. 5.9 The Trustee shall disburse funds to a Partner Entity as requested by the Steering Committee. The disbursements shall be based on Projects and/or Programs and budgets submitted by a Partner Entity through the Secretariat and approved by the Steering Committee. 5.10 In the event that the Steering Committee shall have decided to withhold disbursements for reasons set out in the Governance Document, the Trustee shall claim repayment in full or in part directly from the Partner Entity as set forth in the Transfer Agreement.

Appears in 1 contract

Samples: Trust Fund Administration Agreement

AutoNDA by SimpleDocs

Transfers to Partner Entities and Secretariat. 5.1 The Trustee shall, subject to Section B.9.1 below, commit up to the maximum amount of the Trust Fund funds allocated by the Steering Committee and transfer such amount: (a) to the Partner Entities, including the World Bank in its role as a Partner Entity, in accordance with the Transfer Agreements Agreements; and (b) to the Secretariat in accordance with the MOU. 5.2 The Trustee shall, as trustee on behalf of the Donors, enter into Transfer Agreements for the purposes of this Agreement on the terms and conditions set forth in the Transfer Agreement. The Steering Committee shall approve any material change to the form of the Transfer Agreement. The Trustee shall furnish a copy of each executed Transfer Agreement to the Donors. 5.3 The Transfer Agreement(s) shall provide that each Partner Entity shall be responsible for: (a) the use of the Trust Fund funds transferred to it and Activities carried out therewith in accordance with: (i) its policies and procedures (including those in respect of maintaining its tax exempt status, the procurement of goods and services, reporting arrangements and its framework to combat fraud and corruption); and (ii) the applicable decisions of the Steering Committee, including the purpose for which the Allocations of the funds have been approved; (b) maintaining books, records, documents, and other evidence in accordance with its usual accounting procedures to sufficiently substantiate the use of the Trust Fund funds transferred to it; (c) requiring the Government of Haiti to maintain a dedicated account for any funds used to provide budget support; and (d) reporting to the Steering Committee on the Project and/or Program of Activities in accordance with the terms of the Governance Document. 5.4 Recognizing the obligations of the Donors under various United Nations Security Council Resolutions and the Donors’ intent that the Trust Fund funds not be used to finance drug traffickers or terrorists or corrupt persons, the Trustee will include in each Transfer Agreement a requirement that the Partner Entity: (a) undertakes to use reasonable efforts, consistent with its policies and procedures, including those pertaining to combating financing for terrorists, to ensure that the Trust Fund funds provided to the Partner Entity by the Trustee are used for their intended purposes and are not diverted to terrorists or their agents; (b) will not use Trust Fund funds for the purpose of any payment to persons or entities, or for the import of goods, if such payment or import is prohibited by a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations, including under United Nations Security Council Resolution 1373 and related resolutions; (c) will confirm that, given the activities to be funded with the funds provided to the Partner Entity, the Partner Entity does not believe that any such funds would be diverted to drug traffickers and their conspirators; and (d) will include provisions corresponding to subparagraphs (a) – (c) above in any sub- grant agreements that the Partner Entity enters into with entities to which the Partner Entity makes Trust Fund funds available. 5.5 Such Transfer Agreement shall also name the Donors as third party beneficiaries with direct rights on the part of the Donors to seek recourse under the Transfer Agreement and will provide the Trustee with the rights of novation and assignment to enable the Donors to seek direct recourse against a Partner Entity. 5.6 The Trustee shall also include in each Transfer Agreement that the Partner Entity may invite the Donors to participate in its supervision missions related to the Trust Fund and that, if any Donor wishes to request to review or evaluate Activities of a Partner Entity financed by the Trust Fund, the Donor and the Partner Entity shall agree on the scope and conduct of such review or evaluation, and the Partner Entity shall provide all relevant information within the limits of its policies and procedures. It is understood that any such review or evaluation will not constitute a financial compliance or other audit of the Trust Fund. All associated costs will be borne by the Donor, unless otherwise agreed. 5.7 The Trustee shall require, and accept from, the Partner Entities that have received Trust Fund funds from the Trustee, periodic unaudited financial reports and/or an audited financial report, as well as other relevant financial information, as required by the Steering Committee. 5.8 For transfers to Partner Entities, the Bank’s role shall be solely as Trustee of the Trust Fund, unless the Bank itself is the Partner Entity. The Trustee shall have no responsibility for implementation of Activities following disbursement of such funds to any Partner Entity. 5.9 The Trustee shall disburse funds to a Partner Entity as requested by the Steering Committee. The disbursements shall be based on Projects and/or Programs and budgets submitted by a Partner Entity through the Secretariat and approved by the Steering Committee. 5.10 In the event that the Steering Committee shall have decided to withhold disbursements for reasons set out in the Governance Document, the Trustee shall claim repayment in full or in part directly from the Partner Entity as set forth in the Transfer Agreement.

Appears in 1 contract

Samples: Trust Fund Administration Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!