Common use of Disbursement Conditions Clause in Contracts

Disbursement Conditions. (a) Conditions precedent to the Disbursement Request for the first Tranche: (i) Legal opinion in English issued by the Ministry of Justice of the Borrower confirming to the CEB’s satisfaction, substantially in the form set out under Appendix 2 hereto, that the Agreement has been duly executed by authorised representatives of the Borrower and that the Agreement is valid, binding and enforceable in accordance with its terms in the Borrower’s jurisdiction. (ii) Evidence in English (e.g., power of attorney, etc.) to the CEB’s satisfaction of the person(s) authorised to execute the Agreement and the Disbursement Requests on behalf of the Borrower, together with the authenticated specimen of the signature(s) of such person(s). (iii) A Certificate from the Borrower in the form of Appendix 4 hereto, signed by the person(s) authorised to execute the Disbursement Requests on behalf of the Borrower and dated not earlier than a date falling five (5) Business Days before the Disbursement Request. (iv) Any other condition applicable to the Loan/Project. (b) Conditions precedent to any further Disbursement Request: (i) Evidence in English (e.g., Power of Attorney, etc.) to the CEB’s satisfaction of the person(s) authorised to execute the Disbursement Requests on behalf of the Borrower, together with the authenticated specimen of the signature(s) of such person(s). (ii) Progress Report confirming to the CEB’s satisfaction the full Allocation of previous Tranche. (iii) A Certificate from the Borrower in the form of Appendix 4, signed by the person(s) authorised to execute the Disbursement Requests on behalf of the Borrower and dated not earlier than a date falling five (5) Business Days before the Disbursement Request.

Disbursement Conditions. (a) Conditions precedent to the Disbursement Request for the first Tranche: (i) Legal opinion in English issued by the Ministry of Justice of the Borrower confirming to the CEB’s satisfaction, substantially in the form set out under Appendix 2 hereto, that the Agreement has been duly executed by authorised representatives of the Borrower and that the Agreement is valid, binding and enforceable in accordance with its terms in the Borrower’s jurisdiction. (ii) Evidence in English (e.g., power of attorney, etc.) to the CEB’s satisfaction of the person(s) authorised to execute the Agreement and the Disbursement Requests on behalf of the Borrower, together with the authenticated specimen of the signature(s) of such person(s). (iii) A Certificate from the Borrower in the form of Appendix 4 hereto, signed by the person(s) authorised to execute the Disbursement Requests on behalf of the Borrower and dated not earlier than a date falling five (5) Business Days before the Disbursement Request. (iv) Any other condition applicable The Borrower shall, through the MSTDI and MPI, share with the CEB, for approval, the Procurement Plan in a format and substance satisfactory to the Loan/CEB. (v) The Borrower shall, through the MSTDI, confirm the governance structure for Bio4, which is the Project’s beneficiary and its organisation chart. Furthermore the Borrower shall, trough the MSTDI, confirm the governance structure for the Project’s implementation. (vi) The Borrower shall, through the MPI, confirm the organisational chart for the PIU within MPI, including whether employees within the PIU are full-time or part-time staffed for the Project’s implementation (together with clear indication as to the share of time dedicated to the Project’s implementation, for part-time staffed employees). (vii) The Borrower shall, through the MSTDI, provide a consolidated view of the expected profit and loss for BIO4, based on latest assumptions. (b) Conditions precedent to any further Disbursement Request: (i) Evidence in English (e.g., Power of Attorney, etc.) to the CEB’s satisfaction of the person(s) authorised to execute the Disbursement Requests on behalf of the Borrower, together with the authenticated specimen of the signature(s) of such person(s). (ii) Progress Report confirming to the CEB’s satisfaction the full Allocation of the previous Tranche. (iii) A Certificate from the Borrower in the form of Appendix 4, signed by the person(s) authorised to execute the Disbursement Requests on behalf of the Borrower and dated not earlier than a date falling five (5) Business Days before the Disbursement Request.

Disbursement Conditions. (a) Conditions precedent to the Disbursement Request for the first Tranche: (i) Legal opinion in English issued by the Ministry of Justice of the Borrower confirming to the CEB’s satisfaction, substantially in the form set out under Appendix 2 hereto, that the Agreement has been duly executed by authorised representatives of the Borrower and that the Agreement is valid, binding and enforceable in accordance with its terms in the Borrower’s jurisdiction. (ii) Evidence in English (e.g., power of attorney, etc.) to the CEB’s satisfaction of the person(s) authorised to execute the Agreement and the Disbursement Requests on behalf of the Borrower, together with the authenticated specimen of the signature(s) of such person(s). (iii) A Certificate from the Borrower in the form of Appendix 4 hereto, signed by the person(s) authorised to execute the Disbursement Requests on behalf of the Borrower and dated not earlier than a date falling five (5) Business Days before the Disbursement Request. (iv) Any other condition applicable The Borrower shall, through the MSTDI and MPI, share with the CEB, for approval, the Procurement Plan in a format and substance satisfactory to the Loan/CEB. (v) The Borrower shall, through the MSTDI, confirm the governance structure for Bio4, which is the Project’s beneficiary and its organisation chart. Furthermore the Borrower shall, trough the MSTDI, confirm the governance structure for the Project’s implementation. (vi) The Borrower shall, through the MPI, confirm the organisational chart for the PIU within MPI, including whether employees within the PIU are full-time or part-time staffed for the Project’s implementation (together with clear indication as to the share of time dedicated to the Project’s implementation, for part-time staffed employees). (vii) The Borrower shall, through the MSTDI, provide a consolidated view of the expected profit and loss for BIO4, based on latest assumptions. (b) Conditions precedent to any further Disbursement Request: (i) : Evidence in English (e.g., Power of Attorney, etc.) to the CEB’s satisfaction of the person(s) authorised to execute the Disbursement Requests on behalf of the Borrower, together with the authenticated specimen of the signature(s) of such person(s). (ii) . Progress Report confirming to the CEB’s satisfaction the full Allocation of the previous Tranche. (iii) A Certificate from the Borrower in the form of Appendix 4, signed by the person(s) authorised to execute the Disbursement Requests on behalf of the Borrower and dated not earlier than a date falling five (5) Business Days before the Disbursement Request.

Disbursement Conditions. (a) Conditions precedent to the Disbursement Request for the first Tranche: (i) Legal opinion in English issued by the Ministry of Justice of the Borrower confirming to the CEB’s satisfaction, substantially in the form set out under Appendix 2 hereto, that the Agreement has been duly executed by authorised representatives of the Borrower and that the Agreement is valid, binding and enforceable in accordance with its terms in the Borrower’s jurisdiction. (ii) Evidence in English (e.g., power of attorney, etc.) to the CEB’s satisfaction of the person(s) authorised to execute the Agreement and the Disbursement Requests on behalf of the Borrower, together with the authenticated specimen of the signature(s) of such person(s). (iii) A Certificate from the Borrower in the form of Appendix 4 hereto, signed by the person(s) authorised to execute the Disbursement Requests on behalf of the Borrower and dated not earlier than a date falling five (5) Business Days before the Disbursement Request. (iv) Any other condition applicable The Borrower shall share with the CEB, for approval, the Procurement Plan in a format and substance satisfactory to the Loan/ProjectCEB. (b) Conditions precedent to any further Disbursement Request: (i) Evidence in English (e.g., Power of Attorney, etc.) to the CEB’s satisfaction of the person(s) authorised to execute the Disbursement Requests on behalf of the Borrower, together with the authenticated specimen of the signature(s) of such person(s). (ii) Progress Report confirming to the CEB’s satisfaction the full Allocation of previous Tranche. (iii) A Certificate from the Borrower in the form of Appendix 4, signed by the person(s) authorised to execute the Disbursement Requests on behalf of the Borrower and dated not earlier than a date falling five (5) Business Days before the Disbursement Request.