Common use of Xxxx Covenants Clause in Contracts

Xxxx Covenants. Section 6.01. XXX declares its commitment to the objectives of the Project as set forth in Schedule 2 to the Loan Agreement, and, to this end, shall take all action necessary or appropriate to enable the Borrower to perform its obligations under this Agreement and shall not take or concur in any action which would prevent or interfere with such performance. Section 6.02. In order to ensure the proper coordination of the implementation of the Project, the Bank, the Borrower and XXX hereby agree that XXX shall take the following actions on behalf of the Borrower: (a) preparation and furnishing to the Bank of withdrawal applications under the Loan and collection and furnishing to the Bank of the documents and other evidence to be furnished to the Bank in support of such applications; (b) carrying out of the monitoring and evaluation activities referred to in Section 4.02 of this Agreement, and preparation and furnishing to the Bank of the revisions referred to in said Section, proposed to be introduced into the Action Plan and the Railway Investment Plan; (c) preparation and furnishing to the Bank of the plans, schedules and reports referred to in Sections 9.06 and 9.07 of the General Conditions; (d) coordination of the procurement of goods and services required for the Project; and (e) carrying out of the studies and provision of training included in the Project. (a) XXX shall, at the request of the Bank, exchange views with the Bank with regard to the progress of the Project, the performance of its obligations under this Agreement and other matters relating to the purposes of the Loan. (b) XXX shall promptly inform the Bank of any condition which interferes or threatens to interfere with the performance by XXX of its obligations under this Agreement. Section 6.04. XXX shall carry on its operations and conduct its affairs in accordance with sound administrative, financial, economic and railway practices under the supervision of qualified and experienced management assisted by competent staff in adequate numbers. (a) XXX shall maintain records and accounts adequate to reflect, in accordance with sound accounting practices, the resources and expenditures in respect of railway operations allocated through XXX and attributable to the Borrower. (b) XXX shall: (i) have the records and accounts referred to in paragraph (a) of this Section for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Bank; (ii) furnish to the Bank as soon as available, but in any case not later than six months after the end of each such year, the report of such audit by said auditors, of such scope and in such detail as the Bank shall have reasonably requested; and (iii) furnish to the Bank such other information concerning said records and accounts and the audit thereof as the Bank shall from time to time reasonably request.