PROJECT UNDERTAKINGS. 6.1 Use of Loan and availability of other funds
PROJECT UNDERTAKINGS. 6.1 Use of Loan and availability of other funds The Borrower shall use all amounts borrowed by it under this Contract 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.
PROJECT UNDERTAKINGS. 6.01 Use of Loan and availability of other funds 6.02 Completion 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.
PROJECT UNDERTAKINGS. Use of Loan and availability of other funds Completion of Project Increased cost of Project
PROJECT UNDERTAKINGS. 6.1 Use of Loan and availability of other funds The Borrower shall use all amounts borrowed by it under this Contract 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.
PROJECT UNDERTAKINGS. 6.01 Use of Loan and availability of other funds 6.02 Completion of Project 6.03 Increased cost of Project
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. 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. 6.2Completion 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. 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 shall purchase equipment, secure services and order works for the Project (a) in so far as they apply to it or to the Project, in accordance with European Union law in general and in particular with the relevant European Union Directives and (b) in so far as European Union Directives do not apply, by procurement procedures which, to the satisfaction of the Bank, respect the criteria of economy and efficiency and, in case of public contracts, the principles of transparency, equal treatment and non-discrimination on the basis of nationality. 6.5Continuing 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 rele...
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...