Continuing Project undertakings. The Borrower shall, and ensure that the Promoter shall (as applicable):
Continuing Project undertakings. The Borrower shall:
Continuing Project undertakings. So long as the Loan is outstanding, the Borrower shall:
Continuing Project undertakings. So long as the Loan is outstanding, the Promoter shall:
Continuing Project undertakings. The Borrower shall: Maintenance: maintain, repair, overhaul and renew all property forming part of the Project as required to keep it in good working order; Project assets: unless the Bank shall have given its prior consent in writing retain title to and possession of all or substantially all the assets comprising the Project or, as appropriate, replace and renew such assets and maintain the Project in substantially continuous operation in accordance with its original purpose; provided that the Bank may withhold its consent only where the proposed action would prejudice the Bank's interests as lender to the Borrower or would render the Project ineligible for financing by the Bank under its Statute or under article 309 of the Treaty on the Functioning of the European Union; Insurance: insure all works and property forming part of the Project with first class insurance companies in accordance with the most comprehensive relevant industry practice; Rights and Permits: maintain in force all rights of way or use and all Authorisations necessary for the execution and operation of the Project; and Environment: implement and operate the Project in compliance with Environmental Law; obtain and maintain requisite Environmental Approvals for the Project; and comply with any such Environmental Approvals. Integrity: take, within a reasonable timeframe, appropriate measures in respect of any member of its management bodies who has been convicted by a final and irrevocable court ruling of a Criminal Offence perpetrated in the course of the exercise of his/her professional duties, in order to ensure that such member is excluded from any Borrower’s activity in relation to the Loan or the Project; Integrity Audit Rights: ensure that all contracts under the Project to be procured after the date of signature of this Contract in accordance with EU Directives on procurement provide for: the requirement that the relevant contractor promptly informs the Bank of a genuine allegation, complaint or information with regard to Criminal Offences related to the Project; the requirement that the relevant contractor keeps books and records of all financial transactions and expenditures in connection with the Project; and the Bank’s right, in relation to an alleged Criminal Offence, to review the books and records of the relevant contractor in relation to the Project and to take copies of documents to the extent permitted by law.
Continuing Project undertakings. The Borrower shall cause the Final Beneficiary to:
Continuing Project undertakings. The Borrower shall, and ensure that the Promoter shall (as applicable): Maintenance: maintain, repair, overhaul and renew all property forming part of the Project as required to keep it in good working order; Project assets: unless the Bank shall have given its prior consent in writing retain title to and possession of all or substantially all the assets comprising the Project or, as appropriate, replace and renew such assets and maintain the Project in substantially continuous operation in accordance with its original purpose; the Bank may withhold its consent only where the proposed action would prejudice the Bank's interests as lender to the Borrower or would render the Project ineligible for financing by the Bank under its Statute or under article 309 of the Treaty on the Functioning of the European Union; Insurance: insure all works and property forming part of the Project with first class insurance companies in accordance with the most comprehensive relevant industry practice; Rights and Permits: maintain in force all rights of way or use and all Authorisations necessary for the execution and operation of the Project; Environment and Social: implement and operate the Project in compliance with Environmental and Social Standards; and obtain, maintain and comply with requisite Environmental or Social Approvals for the Project; EU law: execute and operate the Project in accordance with the relevant laws of Republic of Serbia and the relevant standards of EU law, save for any general derogation made by the European Union; and Accounts: ensure that the Promoter requests any disbursements from the Borrower, and the Borrower makes any payments to the Promoter in relation with the Project to a bank account in the name of the Promoter held with a duly authorised financial institution in the jurisdiction where the Promoter is located or where the Project is undertaken by the Promoter.
Continuing Project undertakings. The Borrower shall, and shall ensure that the Promoters will: implement and operate the Project in compliance with Environmental and Social Standards; and; obtain, maintain and comply with requisite Environmental Approvals for the Project; The Borrower shall, and shall ensure that the Promoters will, implement the Project in accordance with the RPF, the RAPs and the ESMPs. The Borrower shall, and shall ensure that the Promoters will, not commence or initiate any resettlement prior to the Bank’s agreement of the RAP applicable to such resettlement.