Remedies of the Association. 4.01. The Additional Event of Suspension consists of the following: a situation has arisen which shall make it improbable that the Program, or a significant part of it, will be carried out.
Remedies of the Association. Section 5.01. Pursuant to Section 6.02 (l) of the General Conditions, the following additional event is specified, namely, that a situation has arisen which shall make it improbable that the Program, or a significant part thereof, will be carried out.
Remedies of the Association. 4.01. The Additional Event of Suspension consists of the following: The Project Implementing Entity’s Legislation has been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely the ability of the Project Implementing Entity to perform any of its obligations under the Project Agreement.
Remedies of the Association. 4.01. The Additional Events of Suspension consist of the following:
(a) The Agreement Establishing ATI has been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely the ability of the Project Implementing Entity to perform any of its obligations under the Project Agreement;
(b) The Recipient shall have failed to reimburse ATI for the amounts referred in the Participation Agreement regarding a Payment resulting from the action or omission of the Recipient;
(c) The Recipient shall have failed to perform any of its obligations under the Agreement Establishing ATI or the Participation Agreement;
(d) ATI shall have failed to perform any of its obligations under any of the Project Documents to which it is a party or by which it is bound;
(e) In the opinion of the Association, the Agreement Establishing ATI or the Participation Agreement shall have been amended, suspended, abrogated, repealed or waived so as to materially and adversely affect the ability of ATI to perform any of its obligations thereunder, or under the ATI Development Credit Agreement;
(f) As a result of events which have occurred after the date of this Agreement, an extraordinary situation shall have arisen which shall make it improbable that ATI will be able to perform its obligations under any of the Project Documents to which it is a party or by which it is bound, or which shall make it improbable that the Insurance Facility will be able to continue operating in a manner satisfactory to the Association;
(g) A situation shall have occurred involving War or Civil Disturbance or Civil Commotion in the territory of the Recipient, or an Embargo affecting the Recipient;
(h) A Payment shall have been made to an Insured by ATI or an Insurer, as the case may be, pursuant to an Insurance Contract or a Contract of Guarantee or an amount shall have been withdrawn from an ATI Bank Account, an ATI Sub Account, an ATI Investment Income Account or any other account for the purpose of making a Payment or reimbursing ATI the amount of a Payment with respect to: (i) a Loss for Political Risk Insurance; or (ii) a Loss arising from the non-honoring of any financial obligation of a sovereign entity of the Recipient, or a sub-sovereign or parastatal entity for which the sovereign entity of the Recipient is legally liable for such sub-sovereign’s or parastatal’s entity’s financial obligations;
(i) In the opinion of the Association, the Recipient shall have introduced a material ...
Remedies of the Association. 4.01. The Additional Event of Suspension consists of the following, namely that a situation has arisen which shall make it improbable that the Program, or a significant part of it, will be carried out.
4.02. The Additional Event of Acceleration consists of the following, namely that the event specified in Section 4.01 of this Agreement occurs and is continuing for a period of sixty (60) days after notice of the event has been given by the Association to the Recipient.
Remedies of the Association. Section 5.01. Pursuant to Section 6.02 (l) of the General Conditions, the following additional event is specified, namely, that:
(a) Subject to paragraph (b) of this Section 5.01, (i) the right of the Borrower to withdraw the proceeds of the Multi-donor Trust Fund Grant, or any other grant or loan made to the Borrower for the financing of the Project shall have been suspended, canceled or terminated in whole or in part, pursuant to the terms of the Multi-donor Trust Fund Grant Agreement, or any agreement providing for such other grant or loan; or (ii) any such loan shall have become due and payable prior to the agreed maturity thereof.
(b) Paragraph (a) of this Section shall not apply if the Borrower establishes to the satisfaction of the Association that: (i) such suspension, cancellation, termination or prematuring is not caused by the failure of the Borrower to perform any of its obligations under such agreement; and (ii) adequate funds for the Project are available to the Borrower from other sources on terms and conditions consistent with the obligations of the Borrower under this Agreement.
Section 5.02. Pursuant to Section 7.01(h) of the General Conditions, the following additional event is specified, namely the event specified in paragraph (a) (ii) of Section 5.01 of this Agreement shall occur, subject to the proviso of paragraph (b) of that Section.
Remedies of the Association. 4.01. The Additional Events of Suspension consist of the following:
(a) Either Project Implementing Entity shall have failed to perform any of its obligations under its respective Project Agreement or Subsidiary Credit Agreement.
(b) As a result of events which have occurred after the date of this Agreement, an extraordinary situation shall have arisen which shall make it improbable that either Project Implementing Entity shall be able to perform its obligations under its respective Project Agreement or Subsidiary Credit Agreement, or the Operational Manual, or that the PMT or any of the PITs shall be able to perform their respective obligations under this Agreement, the Operational Manual, or any of the Subsidiary Financing Agreements, as the case may be.
(c) The Recipient, either Project Implementing Entity, or any other authority having jurisdiction shall have taken any action for the dissolution or disestablishment of the PMT or any of the PITs, or for the suspension of any of their respective activities.
(d) The Operational Manual shall have been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely, in the opinion of the Association, the carrying out of the Project or the realization of its objective.
4.02. The Additional Event of Acceleration consists of the following:
(a) The event specified in paragraphs (a), (c) or (d) of Section 4.01 of this Agreement occurs and is continuing for a period of sixty (60) days after notice of the event has been given by the Association to the Recipient.
Remedies of the Association. Pursuant to Section 6.02 (l) of the General Conditions, the following additional events are specified:
Remedies of the Association. 4.01. The Additional Events of Suspension consist of the following:
(a) if, by notice sent to the Recipient pursuant to sub-paragraph (iv) of paragraph 9 of the FMFA, the Association confirms that it reasonably believes the actions taken previously in accordance with said Section 9 have not been sufficient to fulfill its fiduciary obligation to ensure that the proceeds of the Financing were used for eligible expenditures; or
(b) if, by notice sent to the Recipient pursuant to sub-paragraph (iii)(a) of paragraph 10 of the FMFA, the Association confirms that alternative financial management arrangements mutually acceptable to the Association and the Recipient were not reached within the period stipulated therein; or
(c) if, the Association determines at any time that a reference in either paragraph 1 or paragraph 4 of Section II.B of Schedule 2 to this Agreement to the Recipient’s financial regulations and rules is incomplete or inaccurate in any material respect; or
(d) if, the Association for any reason revokes the application of the Alternative Procurement Arrangements set forth in Section III.1 of Schedule 2 to this Agreement.
Remedies of the Association. Section 5.01. Pursuant to Section 6.02 (h) of the General Conditions, the following additional events are specified:
(a) a situation has arisen which shall make it improbable that the Program, or a significant part thereof, will be carried out;
(b) ERA shall have failed to perform any of its obligations under the Project Agreement;
(c) as a result of events which have occurred after the date of this Agreement, an extraordinary situation has arisen which shall make it improbable that ERA will be able to perform its obligations under the Project Agreement;
(d) Proclamations No. 80/1997 of June 5, 1997 and No. 66/97 of March 6, 1997 have been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely the operations or financial condition of ERA or its ability to carry out the Project or to perform any of its obligations under the Project Agreement;
(e) the Borrower, or any other authority having jurisdiction, have taken any action for the dissolution or disestablishment of ERA or for the suspension of its operations; and
(i) Subject to subparagraph (ii) of this paragraph:
(A) the right of the Borrower to withdraw the proceeds of any grant or loan made to the Borrower for the financing of the Project shall have been suspended, canceled or terminated in whole or in part, pursuant to the terms of the agreement providing therefor; or
(B) any such loan shall have become due and payable prior to the agreed maturity thereof.
(ii) Subparagraph (i) of this paragraph shall not apply if the Borrower establishes to the satisfaction of the Association that: (A) such suspension, cancellation, termination or prematuring is not caused by the failure of the Borrower to perform any of its obligations under such agreement; and (B) adequate funds for the Project are available to the Borrower from other sources on terms and conditions consistent with the obligations of the Borrower under this Agreement.
Section 5.02. Pursuant to Section 7.01 (d) of the General Conditions, the following additional events are specified:
(a) the event specified in paragraph (b) of Section 5.01 of this Agreement shall occur and shall continue for a period of thirty days after notice thereof shall have been given by the Association to the Borrower;
(b) any event specified in paragraphs (d) and (e) of Section 5.01 of this Agreement shall occur; and
(c) the event specified in paragraph (f) (i) (B) of Section 5.01 of this Agreement shall occur, subject to the proviso of pa...
