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 Events of Suspension consist of the following:
(a) The Federation, EPBiH, or EPHZHB has failed to perform any of their respective obligations under the Federation/EPBiH/EPHZHB Project Agreement or either of the Subsidiary Credit Agreements to which any of them is a party;
(b) The Charter of EPBiH or EPHZHB has been amended, suspended, abrogated, repealed or waived, or the Recipient or the Federation has enacted new legislation or issued new directives, so as to affect materially and adversely the ability of EPBiH or EPHZHB to perform any of their respective obligations under the Federation/EPBiH/EPHZHB Project Agreement;
(c) 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 the Federation, EPBiH, or EPHZHB shall be able to perform their respective obligations under the Federation/EPBiH/EPHZHB Project Agreement or either of the Subsidiary Credit Agreements to which any of them is a party;
(d) RS or EPRS shall have failed to perform any of their respective obligations under the RS/EPRS Project Agreement or the RS/EPRS Subsidiary Credit Agreement;
(e) The Charter of EPRS has been amended, suspended, abrogated, repealed or waived, or the Recipient or RS has enacted new legislation or issued new directives, so as to affect materially and adversely the ability of EPRS to perform any of its obligations under the RS/EPRS Project Agreement; and
(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 RS or EPRS shall be able to perform any of their respective obligations under the RS/EPRS Project Agreement or the RS/EPRS Subsidiary Credit Agreement.
4.02. The Additional Events of Acceleration consist of the following:
(a) Any event specified in paragraphs (a) and (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; and
(b) Any event specified in paragraphs (b) and (e) of Section 4.01 of this Agreement occurs.
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 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 events are specified:
(a) Nepal Rastra Bank shall have failed to perform any of its obligations under the Project Agreement;
(b) as a result of events which have occurred after the date of the Development Credit Agreement, an extraordinary situation shall have arisen which shall make it improbable that Nepal Rastra Bank will be able to perform its obligations under the Project Agreement;
(c) the Banijya Bank Act or the Nepal Rastra Bank Act shall have been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely the ability of Nepal Rastra Bank, to perform any of its obligations under the Project Agreement or the NRB Subsidiary Grant Agreement; and
(d) any of the DFID Agreements shall have been terminated or the right of the Borrower to withdraw proceeds of the DFID Grant shall have been suspended; provided, however, that the provisions of this paragraph shall not apply if the Borrower establishes to the satisfaction of the Association that 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 events are specified:
(a) the event specified in paragraph (a) of Section 5.01 of this Agreement shall occur and shall continue for a period of sixty (60) days after notice thereof shall have been given by the Association to the Borrower; and
(b) the events specified in paragraphs (b) and (c) of Section 5.01 of this Agreement shall occur.
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.
(i) Subject to subparagraph (ii) of this paragraph:
(A) the right of the Borrower to withdraw the proceeds of any loan or grant made to the Borrower for the financing of the Program 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 Program are available to the Borrower from other sources on terms and conditions consistent with the obligations of the Borrower under this Agreement.
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 (l) of the General Conditions, the following additional events are specified:
(a) that a situation has arisen which shall make it improbable that the PEDPII, or a significant part thereof, will be carried out;
(b) the Procurement Regulations shall have been amended, suspended, abrogated, repealed or waived, in a manner not satisfactory to the Association; and
(c) The Development Partners’ Cofinancing Funds Agreements shall have failed to become effective by December 31, 2005, or such later date as the Association may agree; provided, however, that the provisions of this paragraph shall not apply if the Borrower establishes to the satisfaction of the Association that adequate funds for the PEDPII are available to the Borrower from other sources on terms and conditions consistent with the obligations of the Borrower under this Agreement.
(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 PEDPII 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 Program 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 events are specified:
(a) the event specified in paragraph (b) of Section 5.01 of this Agreement shall occur; and
(b) the event specified in paragraph (d)(i)(B) of Section 5.01 of this Agreement shall occur, subject to the proviso of paragraph (d)(ii) of that Section.
