Immediate demand Primjeri odredbi
Immediate demand. The Bank may make such demand immediately without prior notice (mise en demeure préalable) or any judicial or extra judicial step: if the Borrower does not pay on the due date any amount payable pursuant to this Contract at the place and in the currency in which it is expressed to be payable, unless: its failure to pay is caused by an administrative or technical error or a Disruption Event and payment is made within 3 (three) Business Days of its due date; if any information or document given to the Bank by or on behalf of the Borrower or any representation, warranty or statement made or deemed to be made by the Borrower in or pursuant to this Contract or in connection with the performance of this Contract is or proves to have been incorrect, incomplete or misleading in any material respect; if, following any default of the Borrower in relation to any loan, or any obligation arising out of any financial transaction, other than the Loan: the Borrower is required or is capable of being required or will, following expiry of any applicable contractual grace period, be required or be capable of being required to prepay, discharge, close out or terminate ahead of maturity such other loan or obligation; or any financial commitment for such other loan or obligation is cancelled or suspended; if the Borrower is unable to pay its debts as they fall due, or suspends its debts, or makes or seeks to make a composition with its creditors; if an encumbrancer takes possession of, or a receiver, liquidator, administrator, administrative receiver or similar officer is appointed, whether by a court of competent jurisdiction or by any competent administrative authority any property forming part of the Project; if the Borrower defaults in the performance of any obligation in respect of any other loan granted by the Bank or financial instrument entered into with the Bank; if the Borrower defaults in the performance of any obligation in respect of any other loan made to it from the resources of the Bank or the European Union; if any expropriation, attachment, arrestment, distress, execution, sequestration or other process is levied or enforced upon the property of the Borrower or any property forming part of the Project and is not discharged or stayed within 14 (fourteen) days; if a Material Adverse Change occurs, as compared with the Borrower’s condition at the date of this Contract; or if it is or becomes unlawful for the Borrower to perform any of its obligations under this C...
Immediate demand. The Bank may make such demand immediately:
(i) if the Borrower fails on due date to repay any part of the Loan, to pay interest thereon or to make any other payment to the Bank as herein provided;
(ii) if the Borrower defaults in the performance of any financial obligation in respect of any loan (other than the Loan) made to it by the Bank and if, following any default in relation thereto, the Borrower is required to prepay any other loan or to discharge ahead of maturity any indebtedness arising out of a financial transaction;
(iii) if, following a default of the Borrower in the performance of any obligation in respect to any loan referred to in Recital (2) or any grant extended to it by the European Union, the right of the Borrower to drawdown the proceeds of that loan or any such grant shall, in whole or in part, have been cancelled or terminated or if that loan or any such grant shall have become repayable pursuant to its terms;
(iv) generally, if any event occurs which is likely to jeopardise the servicing of the Loan or adversely affect any security therefor; or (v) if any information or document given to the Bank by or on behalf of the Borrower in connection with the negotiation of this Contract or during their lifetime proves to have contained a material misstatement of fact, when given.