Common use of Status Clause in Contracts

Status. (a) The Borrower is the Republic of Serbia represented by the Government of the Republic of Serbia, acting by and through the Ministry of Finance, and has entered into and will exercise its rights and perform the obligations under the Finance Documents on behalf of Serbia. (b) It has the power to sue and be sued in its own name and to own its assets to carry on its operations as they are being and will be conducted. (c) It is not a FATCA FFI or a US Tax Obligor. (d) The Project Owner has the corresponding financial strength and operating and management ability to implement the Project. (e) The Borrower has good public finance management, financial and credit status, and is able to repay the principal of the Loan and interest thereon.

Status. (a) The Borrower is the Republic of Serbia represented by the Government of the Republic of Serbia, acting by and through the Ministry of Finance, and has entered into and will exercise its rights and perform the obligations under the Finance Documents on behalf of Serbia. (b) It has the power to sue and be sued in its own name and to own its assets to carry on its operations as they are being and will be conducted. (c) It is not a FATCA FFI or a US Tax Obligor. (d) The Project Owner has the corresponding financial strength and operating and management ability to implement the Project. (e) The Borrower has good public finance management, financial and credit status, and is able to repay the principal of the Loan and interest thereon.