PROJECT UNDERTAKINGS. 6.1 Use of Loan and availability of other funds
PROJECT UNDERTAKINGS. Use of Loan and availability of other funds Completion of Project Increased cost of Project
PROJECT UNDERTAKINGS. (a) The Borrower shall ensure that no action which will prevent or interfere with the implementation or execution of the Project or with the performance of the Borrower's or the Project Owner's obligations under the Finance Documents and the Commercial Contract is taken or permitted to be taken by it or the Project Owner.
(b) The Borrower shall, and shall procure the Project Owner to, permit the Lenders and/or accountants or other professional advisers and contractors of the Lenders at reasonable times and on reasonable notice to the Borrower access to the Borrower's and the Project Owner's books and records on the Finance Documents as they relate to the Project.
(c) The Borrower shall, and shall procure the Project Owner to furnish or cause to be furnished to the Agent (acting on behalf of the Lenders) promptly upon their preparation, any plans, specifications, reports, contract documents and construction and procurement schedules for the Project, and any material modifications thereof or additions thereto, in such detail as the Agent (acting on behalf of the Lenders) shall reasonably request.
(d) The Borrower shall (and shall procure the Project Owner to):
(i) maintain records and procedures adequate to record and monitor the progress of the Project (including its cost and the benefits to be derived from it), to identify the goods and services financed out of the proceeds of the Loans, and to disclose their use in the Project;
(ii) enable the Lenders' representatives to visit any facilities and construction sites included in the Project and to examine the goods financed out of the proceeds of the Loans and any plants, installations, sites, works, buildings, property, equipment, records and documents relevant to the performance of the obligations of the Borrower and the Project Owner under the Finance Documents and the Commercial Contract; and (iii) furnish to the Agent (acting on behalf of the Lenders) at regular intervals all such information as the Agent (acting on behalf of the Lenders) shall reasonably request concerning the Project, its cost and, where appropriate, the benefits to be derived from it, the expenditure of the proceeds of the Loans and the goods and services financed out of such proceeds.
(e) The Borrower shall at all times operate and maintain, or cause to be operated and maintained, any facilities relevant to the Project, and promptly as needed, make or cause to be made all necessary repairs and removals thereof.
(f) The Borrower shal...
PROJECT UNDERTAKINGS. 6.01 Use of Loan and availability of other funds 6.02 Completion of Project
PROJECT UNDERTAKINGS. 6.01 Use of Loan and availability of other funds 6.02 Completion and Implementation of the Project
(a) ensure that the Project is carried out in accordance with the Technical Description as may be modified from time to time with the approval of the Bank, and complete it by the final date specified therein
(b) implement a comprehensive environmental legislation in line with the time plan presented to the Bank pursuant to Article 1.04A;
(c) prior to making any utilization of the Loan for the benefit of the Final Beneficiaries, submit to the Bank a document outlining the applicable policy (principles and term-sheet for on-lending-agreements or decision on grants, whichever is applicable);
PROJECT UNDERTAKINGS. 6.1Use of Loan and availability of other funds The Borrower shall use all amounts borrowed by it under the Loan for the execution of the Project. The Borrower shall ensure that it has available to it the other funds listed in Recital (b) and that such funds are expended, to the extent required, on the financing of the Project. The Loan proceeds shall not be used for the payment of value added tax on sales of goods and services and import of goods and services, costs of customs duties and other import duties, taxes and other impositions occurring in the execution of implementation of the Project. 6.2Implementation and completion of Project The Promoter shall carry out the Project in accordance with the Technical Description as may be modified from time to time with the approval of the Bank, and complete it by the final date specified therein. Twelve months prior to the completion of the construction works relating to each of the four clinical centres mentioned in Recital (a) the Promoter shall prepare for each clinical centre a decanting and transfer plan. The Promoter shall ensure that the procurement and the delivery of the relevant equipment is timed in accordance with the Project implementation plans to ensure that the buildings are adequately prepared prior to their delivery and installation. So long as the Loan is outstanding the Promoter shall ensure that the initiatives aimed at encouraging changes in clinical and management practice and technology are continued as the investment in the four clinical centres mentioned in Recital (a) is planned in detail and implemented fully. So long as the Loan is outstanding the Borrower shall ensure that sufficient resources are available for covering the annual operating costs of the four clinical centres mentioned in Recital (a). 6.3Increased cost of Project If the total cost of the Project exceeds the estimated figure set out in Recital (b), the Borrower shall obtain the finance to fund the excess cost without recourse to the Bank, so as to enable the Project to be completed in accordance with the Technical Description. The plans for funding the excess cost shall be communicated to the Bank without delay. 6.4Procurement procedure The Borrower undertakes to procure works, goods and services for the Project by procurement procedures agreed with the Bank and complying, to the Bank's satisfaction, with its policy as described in its Guide to Procurement. The review procedures for remedies, as provided for in Serbi...
PROJECT UNDERTAKINGS. Use of Loan and availability of other funds The Borrower shall use all amounts borrowed by it under the Loan for the execution of the Project. The Borrower shall ensure that it has available to it the other funds listed in Recital (b) and that such funds are expended, to the extent required, on the financing of the Project. Completion of Project The Borrower shall carry out the Project in accordance with the Technical Description as may be modified from time to time with the approval of the Bank, and complete it by the final date specified therein. Increased cost of Project If the total cost of the Project exceeds the estimated figure set out in Recital (b), the Borrower shall obtain the finance to fund the excess cost without recourse to the Bank, so as to enable the Project to be completed in accordance with the Technical Description. The plans for funding the excess cost shall be communicated to the Bank without delay.
PROJECT UNDERTAKINGS. Use of Loan and availability of other funds The Borrower shall use all amounts borrowed by it under the Loan for the execution of the Project. The Borrower shall ensure that it has available to it the other funds listed in Recital (b) and that such funds are expended, to the extent required, on the financing of the Project. Completion of Project The Borrower shall carry out the Project in accordance with the Technical Description as may be modified from time to time with the approval of the Bank, and complete it by the final date specified therein. Increased cost of Project If the total cost of the Project exceeds the estimated figure set out in Recital (b), the Borrower shall obtain the finance to fund the excess cost without recourse to the Bank, so as to enable the Project to be completed in accordance with the Technical Description. The plans for funding the excess cost shall be communicated to the Bank without delay.