Z A K O N
Z A K O N
O POTVRĐIVANJU UGOVORA O KREDITU BR. CRS 1015 02 D IZMEĐU FRANCUSKE AGENCIJE ZA RAZVOJ I REPUBLIKE SRBIJE ZA PROJEKAT MODERNIZACIJE ŽELEZNIČKOG SEKTORA U SRBIJI FAZA 1
Član 1.
Potvrđuje se Ugovor o kreditu br. CRS 1015 02 D između Francuske agencije za razvoj i Republike Srbije za Projekat modernizacije železničkog sektora u Srbiji Faza 1, koji je potpisan u Beogradu 10. maja 2021. godine, u originalu na engleskom jeziku.
Član 2.
Tekst Ugovora o kreditu br. CRS 1015 02 D između Francuske agencije za razvoj i Republike Srbije za Projekat modernizacije železničkog sektora u Srbiji Faza 1, u originalu na engleskom jeziku i prevodu na srpski jezik glasi:
AFD AGREEMENT N° CRS 1015 02 D
CREDIT FACILITY AGREEMENT
dated as of May 10, 2021 between
AGENCE FRANÇAISE DE DEVELOPPEMENT
The Lender
and
THE REPUBLIC OF SERBIA
The Borrower
TABLE OF CONTENTS
1. DEFINITIONS AND INTERPRETATION 7
1.1 Definitions 7
1.2 Interpretation 7
2. FACILITY, PURPOSE AND CONDITIONS OF UTILISATION 7
2.1 Facility 7
2.2 Purpose 7
2.3 Monitoring 7
2.4 Conditions precedent 7
3. DRAWDOWN OF FUNDS 8
3.1 Drawdown amounts 8
3.2 Drawdown request 8
3.3 Payment completion 9
3.4 Disbursement Methods 9
4. INTEREST 12
4.1 Interest Rate 12
4.2 Calculation and payment of interest 14
4.3 Late payment and default interest 14
4.4 Communication of Interest Rates 15
4.5 Effective Global Rate (Taux Effectif Global) 15
5. CHANGE TO THE CALCULATION OF INTEREST 15
5.1 Market Disruption 15
5.2 Replacement of Screen Rate 16
6. FEES 18
6.1 Commitment fees 18
6.2 Front-end Fee 18
7. REPAYMENT 18
8. PREPAYMENT AND CANCELLATION 18
8.1 Voluntary prepayment 18
8.2 Mandatory prepayment 19
8.3 Cancellation by the Borrower 20
8.4 Cancellation by the Lender 20
8.5 Restrictions 20
9. ADDITIONAL PAYMENT OBLIGATIONS 20
9.1 Costs and expenses 21
9.2 Cancellation Indemnity 21
9.3 Prepayment Indemnity 21
9.4 Taxes and duties 21
9.5 Additional Costs 22
9.6 Currency indemnity 22
9.7 Due dates 23
10. REPRESENTATIONS AND WARRANTIES 23
10.1 Power and authority 23
10.2 Validity and admissibility in evidence 23
10.3 Binding obligations 23
10.4 No filing or stamp taxes 24
10.5 Transfer of funds 24
10.6 No conflict with other obligations 24
10.7 Governing law and enforcement 24
10.8 No default 24
10.9 No misleading information 25
10.10 Project Documents 25
10.11 Project Authorisations 25
10.12 Procurement 25
10.13 Pari passu ranking 25
10.14 Origin of funds, Acts of Corruption, Fraud and Anti-Competitive Practices 25
10.15 No Material Adverse Effect 26
11. UNDERTAKINGS 26
11.1 Compliance with Laws, Regulations and Obligations 26
11.2 Authorisations 27
11.3 Project Documents 27
11.4 Implementation and preservation of the Project 27
11.5 Procurement 27
11.6 Environmental and social responsibility 28
11.7 Additional financing 29
11.8 Pari passu ranking 29
11.9 Designated Account 29
11.10 Inspections 29
11.11 Project evaluation 29
11.12 Implementation of the Project 30
11.13 Origin of funds, no Acts of Corruption, Fraud or Anti-Competitive Practices 30
12. INFORMATION UNDERTAKINGS 31
12.1 Financial Information 31
12.2 Progress Report 31
12.3 Co-Financing 31
12.4 Information - miscellaneous 31
13. EVENTS OF DEFAULTS 32
13.1 Events of Default 32
13.2 Acceleration 34
13.3 Notification of an Event of Default 34
14. ADMINISTRATION OF THE FACILITY 34
14.1 Payments 34
14.2 Set-off 35
14.3 Business Days 35
14.4 Currency of payment 35
14.5 Day count convention 35
14.6 Place of payment 35
14.7 Payment Systems Disruption 36
15. MISCELLANEOUS 36
15.1 Language 36
15.2 Certifications and determinations 37
15.3 Partial invalidity 37
15.4 No Waiver 37
15.5 Assignment 37
15.6 Legal effect 37
15.7 Entire agreement 37
15.8 Amendments 38
15.9 Confidentiality - Disclosure of information 38
15.10 Limitation 38
15.11 Hardship 38
16. NOTICES 38
16.1 In writing and addresses 38
16.2 Delivery 39
16.3 Electronic communications 39
17. GOVERNING LAW, ENFORCEMENT AND CHOICE OF DOMICILE 39
17.1 Governing Law 39
17.2 Arbitration 39
17.3 Service of process 41
18. DURATION 41
SCHEDULE 1A - DEFINITIONS 43
SCHEDULE 1B - CONSTRUCTION 54
SCHEDULE 2 - PROJECT DESCRIPTION 55
SCHEDULE 3 - FINANCING PLAN 57
SCHEDULE 4 - CONDITIONS PRECEDENT 59
SCHEDULE 5A - FORM OF DRAWDOWN REQUEST 61
SCHEDULE 5B - FORM OF CONFIRMATION OF DRAWDOWN AND RATE 63
SCHEDULE 5C - FORM OF RATE CONVERSION REQUEST 65
SCHEDULE 5D - FORM OF RATE CONVERSION CONFIRMATION 66
SCHEDULE 6 - INFORMATION THAT THE LENDER IS AUTHORIZED EXPRESSLY TO DISCLOSE ON THE LENDER’S WEBSITE (IN PARTICULAR ON
ITS OPEN DATA PLATFORM) 67
SCHEDULE 7 – AFD’S COVENANT OF INTEGRITY 68
SCHEDULE 8 – COMMUNICATION NOTE OF THE PROJECT 70
CREDIT FACILITY AGREEMENT
BETWEEN:
(1) REPUBLIC OF SERBIA represented by the Government of the Republic of Serbia, through Minister of Finance Mr. Xxxxxx Xxxx, who is duly authorized to sign this Agreement
(“Republic of Serbia” or the “Borrower”);
AND
(2) AGENCE FRANCAISE DE DEVELOPPEMENT, a French public entity governed by French law, with registered office at 0, Xxx Xxxxxx Xxxxxxx, 00000 Xxxxx Xxxxx 00, Xxxxxx, registered with the Trade and Companies Register of Paris under number 000 000 000, represented by Ms. Xxxxxx Xxxxxxx, in her capacity as Regional Director for Eurasia, duly authorised to sign this Agreement,
(“AFD” or the “Lender”);
(hereinafter jointly referred to as the “Parties” and each a “Party”);
WHEREAS:
(A) The Borrower intends to implement the Phase 1 of Serbia Railway Sector Modernization project (the “Project”), as described further in Schedule 2 (Project Description) for a total value of one hundred and two million Euros (EUR 102,000,000).
(B) The Borrower has requested that the Lender makes a facility available for the purposes of financing the Project in part.
(C) The IBRD as Co-Financier intends to provide financing of the Project for an amount of up to fifty-one million Euros (EUR 51,000,000).
(D) Pursuant to resolution n° C20210013 of the Comité des Etats Etrangers of AFD dated January 27, 2021, the Lender has agreed to make the Facility available to the Borrower pursuant to the terms and conditions of this Agreement.
THEREFORE THE PARTIES HAVE AGREED AS FOLLOWS:
1. DEFINITIONS AND INTERPRETATION
1.1 Definitions
Capitalised words and expressions used in this Agreement (including those appearing in the recitals above and in the Schedules) shall have the meaning given to them in Schedule 1A (Definitions), except as otherwise provided in this Agreement.
1.2 Interpretation
Words and expressions used in this Agreement shall be construed pursuant to the provisions of Schedule 1B (Construction), unless the contrary intention appears.
2. FACILITY, PURPOSE AND CONDITIONS OF UTILISATION
2.1 Facility
Subject to the terms of this Agreement, the Lender makes available to the Borrower a Facility in a maximum aggregate amount of fifty-one million Euros (EUR 51,000, 000).
2.2 Purpose
The Borrower shall apply all amounts borrowed by it under this Facility exclusively towards financing and/or refinancing Eligible Expenses in accordance with the Project's description set out in Schedule 2 (Project Description) and the Financing Plan set out in Schedule 3 (Financing Plan).
2.3 Monitoring
The Lender shall not be held responsible for the use of any amount borrowed which is not in accordance with the provisions of this Agreement.
2.4 Conditions precedent
(a) No later than the Signing Date, the Borrower shall provide to the Lender all of the documents set out in Part I of Schedule 4 (Conditions Precedent).
(b) A Drawdown Request may not be delivered to the Lender unless:
(i) in the case of the first Drawdown, the Lender has received all of documents listed in Part II and III and/or IV of Schedule 4 (Conditions Precedent) as the case may be, and has notified the Borrower that such documents are satisfactory in form and substance;
(ii) in the case of any subsequent Drawdown, the Lender has received all of the documents set out in Part IV of Schedule 4 (Conditions Precedent) as the case may be, and has notified the Borrower that such documents are satisfactory in form and substance; and
(iii) on the date of the Drawdown Request and on the proposed Drawdown Date for the relevant Drawdown, no Payment Systems Disruption Event has occurred and the conditions set out in this Agreement have been fulfilled, including:
(1) no Event of Default is continuing or would result from the proposed Drawdown;
(2) no Co-Financier has suspended its payments in relation to the Project;
(3) the Drawdown Request has been made in accordance with the terms of Clause 3.2 (Drawdown request);
(4) each representation given by the Borrower in relation to Clause 10 (Representations and warranties) is true.
3. DRAWDOWN OF FUNDS
3.1 Drawdown amounts
The Facility will be made available to the Borrower during the Availability Period, in several Drawdowns, provided that the number of Drawdowns shall not exceed seventy (70).
3.2 Drawdown request
(a) Provided that the conditions set out in Clause 2.4(b)(ii) (Conditions precedent) are satisfied the Borrower may draw on the Facility by delivering to the Lender a duly completed and signed Drawdown Request as described below:
(i) An electronic copy of the Drawdown Request duly completed and signed, together with all the supporting documents required for the relevant conditions precedent fulfilment, shall at first be submitted, to the Co-Financier, simultaneously with submission of the relevant Withdrawal Application under the IBRD loan in accordance with the conditions and terms of the IBRD Loan Agreement; and
(ii) A hard copy of the duly completed and signed Drawdown Request shall be delivered by mail by the Borrower to the AFD office Director, at the address specified in Clause 16.1 (In writing and addresses).
Payments will be made in accordance with the instructions in the Disbursement and Financial Information Letter (DFIL), updated if necessary, issued by the Co-Financier.
Unless an exception is granted by the Lender, each Drawdown Request shall be made concurrently with a Withdrawal Application under the IBRD Loan Agreement for respective amounts to meet the pari passu financing indicated in Annex 3 (Financing Plan).
(b) Each Drawdown Request is irrevocable and will be regarded as having been duly completed if:
(i) the Drawdown Request is substantially in the form set out in Schedule 5A (Form of Drawdown Request);
(ii) the Drawdown Request is received by the Lender at the latest fifteen (15) Business Days prior to the Deadline for Drawdown;
(iii) the proposed Drawdown Date is a Business Day falling within the Availability Period;
(iv) the amount of the Drawdown complies with Clause 3.1 (Drawdown amounts); and
(v) all of the documents set out in Part IV and/or IV of Schedule 4 (Conditions Precedent) as the case may be, for the purposes of the Drawdown are attached to the Drawdown Request, comply with the abovementioned Schedule and with the requirements of Clause 3.4 (Disbursement Methods), and are in form and substance satisfactory to the Lender.
Any documentary evidence, such as bills or paid invoices, shall include the reference number and date of the relevant payment order if applicable and required under the Co-Financier procedure.
The Borrower undertakes to keep possession of the documentary evidence originals, to make such evidence available to the Lender at any time and to provide the Lender with Certified copies or duplicates of such evidence as the Lender may request.
3.3 Payment completion
In application of the Co-Financing Agreement, once the Co-Financier has received a Withdrawal Application and the relevant supporting documents as described in Clause 3.2 (a) (i) above, the Co-Financier, on behalf and in the name of the Lender, will:
(i) assess all these supporting documents submitted, in compliance with the its applicable internal rules and procedures; and
(ii) verify that the amount requested in the Drawdown Request complies with the co-financing requirements under the Co-Financing Agreement.
If the result of the assessment and the verification mentioned above is satisfactory to the Co-Financier, the latter will notify the Lender in writing of such result through a disbursement notice (the “Disbursement Notice”).
Subject to Clause 14.7 (Payment Systems Disruption), if each of the conditions set out in Clause 2.4(b) (Conditions precedent) of this Agreement has been met, the Lender shall make the requested Drawdown available to the Borrower not later than the Drawdown Date.
The Lender shall provide the Borrower with a letter of Drawdown confirmation substantially in the form set out in Schedule 5B (Form of confirmation of drawdown and rate).
3.4 Disbursement Methods
The Facility shall be made available in accordance with one or more of the following terms:
Subject to the conditions set out in Part III and/or IV of Schedule 4 (Conditions Precedent) as the case may be, the funds may be paid directly to the Borrower in accordance with the terms and conditions of this Agreement, in order to refinance Eligible Expenses paid by the Borrower, provided that evidence of payment of the Eligible Expenses by the Borrower referred to in the Drawdown Request, has been delivered to the Lender
through the Co-Financier in form and substance satisfactory to the Co-Financier.
The Lender may request directly or through the Co-Financier that the Borrower provides such other evidence showing that works or services corresponding to the relevant Eligible Expenses have been implemented.
(a) Subject to the conditions set out in Part III and/or IV of Schedule 4 (Conditions Precedent) as the case may be, the Borrower may request in the Drawdown Request that the proceeds of a Drawdown are made available directly to any Contractor who are owed money under any procurement contracts for the supply of goods, services and other works entered into for the purposes of implementing all or part of the Eligible Expenses of the Project.
(b) The Borrower hereby authorises the Lender to make direct payments in accordance with paragraph (a) above from the proceeds of a Drawdown. The Lender will not be bound, at any time, to verify whether there is a restriction of any nature in connection with the requested Drawdown. The Lender reserves the right to reject such a request if it becomes aware of any such restriction.
(c) The Lender shall not be liable in any way whatsoever in relation to the Drawdowns and the Borrower waives any action it may have against the Lender in this respect. The Borrower shall indemnify the Lender against any cost, loss or liability which the Lender incurs in relation to third party actions against the Lender in respect of such Drawdowns.
(d) The Borrower acknowledges that any amount paid by the Lender pursuant to this Clause 3.4.2 will be a Drawdown and that it shall repay in full to the Lender all amounts paid under the Facility pursuant to this Clause 3.4.2 (Direct payments), together with, and including but not limited to, all interest accrued on those amounts as from the relevant Drawdown Dates.
3.4.3 Drawdowns in the form of Advances
The Facility may be made available by the Lender in the form of advances (“Advance(s)”) paid into the Designated Account.
(a) Opening of the Designated Account
The Borrower shall open and maintain an account in the name of the Project (the “Designated Account”), at the National Bank of Serbia (“NBS”), for the sole purpose of (i) receipt of the proceeds of the Drawdowns of the Lender in the form of Advances, and (ii) payment of the Eligible Expenses.
The Borrower hereby undertakes and procures that any right of set-off of any party is waived in respect of the Designated Account and any other account opened in the name of the Borrower at the NBS, or against any other debt of the Borrower.
Provided that the conditions set out in Clause 2.4 (Conditions precedent) have been satisfied, the Lender shall pay to the Designated Account an initial Advance of the amount specified in the corresponding Disbursement Notice submitted by the Co- Financier to the Lender.
Additional Advances will be made upon the Borrower’s request in accordance with the same procedure required under the IBRD Loan Agreement and subject to the conditions referred to in Clause 2.4 (Conditions precedent).
Unless the Lender agrees otherwise, the final Advance shall be paid in accordance with the same conditions as the other Advances and, if applicable, shall take into account any change in the financing plan of the Project agreed between the Parties.
(e) Justification for use of Advances
The Borrower agrees to deliver to the Lender:
(i) no later than the Deadline for Use of Funds, a certificate signed by an authorised signatory of the Borrower certifying that one hundred per cent (100%) of both the penultimate Advance and the final Advance have been used and providing a detailed breakdown of the sums paid in respect of the Eligible Expenses in the relevant period; and
(ii) no later than three (3) months after the date of delivery of the certificate referred to in subparagraph (i) above, a final audit report of the Designated Account (the “Final Audit Report”), carried out in accordance with the provisions of the IBRD Loan Agreement and the Project Operations Manual. The appointed auditor shall verify that all amounts drawn under the Facility and paid into the Designated Account have been used in accordance with the terms and conditions of this Agreement.
If any Eligible Expenses are denominated in a currency other than Euro, the Borrower shall convert the invoice amount into the equivalent amount in Euros in accordance with the provisions of the IBRD Loan Agreement and the Project Operations Manual.
The Borrower agrees that all funds paid in the form of Advances shall be used in full to pay Eligible Expenses no later than the Deadline for Use of Funds.
The Borrower agrees that, during the Drawdown Period, the Designated Account shall be audited in accordance with the provisions of the IBRD Loan Agreement and the Project
Operations Manual. The auditor shall verify that all amounts drawn under the Facility and paid into the Designated Account have been used in accordance with the terms of this Agreement.
Audit reports shall be made available by the Borrower to the Lender through the Co-Financier.
During the Drawdown Period, the Lender may carry out, or procure that a third party carries out on its behalf and at the cost of the Borrower, random inspections rather than systematic control of documentary evidence.
(i) Failure to justify the use of Advances by the Deadline for Use of Funds
The Lender may request that the Borrower repays all amounts in respect of which utilisation has not been duly or sufficiently justified in accordance with the IBRD Loan Agreement, together with all other sums standing to the credit of the Designated Account on the Deadline for Use of Funds. The Borrower shall repay such amounts to the Lender within twenty (20) calendar days of receipt of such notification from the Lender. Any repayment by the Borrower under this Clause shall be treated as a mandatory prepayment in accordance with the provisions of Clause 8.2 (Mandatory prepayment).
The Borrower shall retain documentary evidence and other documents in connection with the Designated Account and use of the Advances for a period of ten (10) years from the date of the last Drawdown under the Facility.
The Borrower undertakes to deliver such documentary evidences and other documents to the Lender, or to any auditing firm appointed by the Lender, upon the Lender’s request.
4. INTEREST
4.1 Interest Rate
4.1.1 Selection of Interest Rate
For each Drawdown, the Borrower may select a fixed Interest Rate or a floating Interest Rate, which shall apply to the amount set out in the relevant Drawdown Request, by stating the selected Interest Rate, i.e., fixed or floating, in the Drawdown Request delivered to the Lender substantially in the form set out in Schedule 5A (Form of Drawdown Request), subject to the following conditions:
(i) Floating Interest Rate
The Borrower may select a floating Interest Rate, which shall be the percentage rate per annum, being the aggregate of:
- six-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of
Clause 5 (Change to the calculation of interest) of the Agreement; and
- the Margin.
Notwithstanding the above, in the case of the first Drawdown, if the first Interest Period is less than one hundred and thirty-five (135) days, the applicable EURIBOR shall be:
- one-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement, if the first Interest Period is less than sixty
(60) days; or
- three-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement if the first Interest Period is between sixty
(60) days and one hundred and thirty-five (135) days.
(ii) Fixed Interest Rate
Provided that the amount of a requested Drawdown is equal to or greater than three million Euros (EUR 3,000,000), the Borrower may select a fixed Interest Rate for such requested Drawdown. The fixed Interest Rate shall be the Fixed Reference Rate increased or decreased by any fluctuation of the Index Rate for the period from the Signing Date until the relevant Rate Setting Date.
The Interest Rate determined in accordance with Clause 4.1.1 (Selection of Interest Rate), regardless of the elected option, shall not be less than zero point twenty-five per cent (0.25%) per annum, notwithstanding any decline in the Interest Rate.
4.1.3 Conversion from a floating Interest Rate to a fixed Interest Rate
(i) Rate Conversion upon the Borrower’s request
The Borrower may request at any time that the Lender converts the floating Interest Rate applicable to a Drawdown or several Drawdowns to a fixed Interest Rate, provided that the amount of such Drawdown or aggregate amount of Drawdowns (as applicable) is equal to, or higher than, three million Euros (EUR 3,000,000).
To this effect, the Borrower shall send to the Lender a Rate Conversion Request substantially in the form set out in Schedule 5C (Form of Rate Conversion Request). The Borrower may specify in the Rate Conversion Letter a maximum amount for fixed Interest Rate. If the fixed Interest Rate as calculated on the Rate Setting Date exceeds the maximum amount for fixed Interest Rate specified by the Borrower in the Rate Conversion Request,
such Rate Conversion Request will be automatically cancelled.
The fixed Interest Rate will be effective two (2) Business Days after the Rate Setting Date.
(ii) Rate Conversion mechanics
The fixed Interest Rate applicable to the relevant Drawdown(s) shall be determined in accordance with Clause 4.1.1(ii) (Fixed of Interest Rate) above on the Rate Setting Date referred to in subparagraph (i) above.
The Lender shall send to the Borrower a letter of confirmation of Rate Conversion substantially in the form set out in Schedule 5D (Form of Rate Conversion Confirmation).
A Rate Conversion is final and effected without costs.
4.2 Calculation and payment of interest
The Borrower shall pay accrued interest on Drawdown(s) on each Payment Date.
(i) the Outstanding Principal owed by the Borrower in respect of the relevant Drawdown as at the immediately preceding Payment Date or, in the case of the first Interest Period, on the corresponding Drawdown Date;
(ii) the exact number of days which have accrued during the relevant Interest Period on the basis of a three hundred and sixty (360) day year; and
(iii) the applicable Interest Rate determined in accordance with the provisions of Clause 4.1 (Interest Rate).
4.3 Late payment and default interest
(a) Late payment and default interest on all amounts due and unpaid (except for interest)
If the Borrower fails to pay any amount payable by it to the Lender under this Agreement (whether a payment of principal, a Prepayment Indemnity, any fees or incidental expenses of any kind except for any unpaid overdue interest) on its due date, interest shall accrue on the overdue amount, to the extent permitted by law, from the due date up to the date of actual payment (both before and after an arbitral award, if any) at the Interest Rate applicable to the current Interest Period (default interest) increased by three point five per cent (3.5%) (late- payment interest). No formal prior notice from the Lender shall be necessary.
(b) Late payment and default interest on unpaid overdue interest
Interest which has not been paid on its due date shall bear interest, provided they have remained unpaid for one year and to the extent permitted by law, at the Interest Rate applicable to the ongoing Interest Period (default interest), increased by three point five per cent (3.5%) (late-payment interest), to the extent that such Interest has been due and payable for at least one (1) year. No formal prior notice from the Lender shall be necessary.
The Borrower shall pay any outstanding interest under this Clause 4.3 (Late payment and default interest) immediately on demand by the Lender or on each Payment Date following the due date for the outstanding payment.
(c) Receipt of any payment of late payment interest or default interest by the Lender shall neither imply the grant of any payment extension to the Borrower, nor operate as a waiver of any of the Lender’s rights hereunder.
4.4 Communication of Interest Rates
The Lender shall promptly notify the Borrower of the determination of each Interest Rate in accordance with this Agreement.
4.5 Effective Global Rate (Taux Effectif Global)
In order to comply with Articles L. 314-1 to L.314-5 and R.314-1 et seq. of the French Consumer Code and L. 313-4 of the French Monetary and Financial Code, the Lender informs the Borrower, and the Borrower accepts, that the effective global rate (taux effectif global) applicable to the Facility may be valued at an annual rate of zero point sixty-seven percent (0.67%) on the basis of a three hundred and sixty-five (365) day year and an Interest Period of six (6) months, subject to the following:
(a) the above rate is given for information purposes only;
(b) the above rate is calculated on the basis that:
(i) drawdown of the Facility is in full on the Signing Date;
(ii) no Drawdown made available to the Borrower will bear interest on the floating rate; and
(iii) the fixed rate for the duration of the facility should be equal to zero point sixty-three percent (0.63%);
5. CHANGE TO THE CALCULATION OF INTEREST
5.1 Market Disruption
(a) If a Market Disruption affects the interbank market in the Eurozone and it is impossible:
(i) for the fixed Interest Rate, to determine the fixed Interest Rate applicable to a Drawdown, or
(ii) for the variable Interest Rate, to determine the applicable EURIBOR for the relevant Interest Period,
the Lender shall inform the Borrower.
(b) Upon the occurrence of the event described in paragraph (a) above, the applicable Interest Rate, as the case may be, for the relevant Drawdown or for the relevant Interest Period will be the sum of:
(i) the Margin; and
(ii) the percentage rate per annum corresponding to the cost to the Lender of funding the relevant Drawdowns(s) from whatever source it may reasonably select. Such rate shall be notified to the Borrower as soon as possible and, in any case, prior to (1) the first Payment Date for interest owed under such Drawdown for the fixed Interest Rate or (2) the Payment Date for interest owed under such Interest Period for the variable Interest Rate.
5.2 Replacement of Screen Rate
5.2.1 Definitions
"Relevant Nominating Body" means any central bank, regulator, supervisor or working group or committee sponsored or chaired by, or constituted at the request of any of them.
"Screen Rate Replacement Event" means any of the following events or series of events:
(a) the definition, methodology, formula or means of determining the Screen Rate has materially changed;
(b) a law or regulation is enacted which prohibits the use of the Screen Rate, it being specified, for the avoidance of doubt, that the occurrence of this event shall not constitute a mandatory prepayment event;
(c) the administrator of the Screen Rate or its supervisor publicly announces:
(i) that it has ceased or will cease to provide the Screen Rate permanently or indefinitely, and, at that time, no successor administrator has been publicly nominated to continue to provide that Screen Rate;
(ii) that the Screen Rate has ceased or will cease to be published permanently or indefinitely; or
(iii) that the Screen Rate may no longer be used (whether now or in the future);
(d) a public announcement is made about the bankruptcy of the administrator of that Screen Rate or any other insolvency proceedings against it, and, at that time, no successor administrator has been publicly nominated to continue to provide that Screen Rate; or
(e) in the opinion of the Lender, the Screen Rate has ceased to be used in a series of comparable financing transactions.
"Screen Rate" means EURIBOR or, following the replacement of this rate by a Replacement Benchmark, the Replacement Benchmark.
"Screen Rate Replacement Date" means:
– with respect to the events referred to in items a), d) and e) of the above definition of Screen Rate Replacement Event, the date on which the Lender has knowledge of the occurrence of such event, and,
– with respect to the events referred to in items b) and c) of the above definition of Screen Rate Replacement Event, the date beyond which the use of the Screen Rate will be prohibited or the date on which the administrator of the Screen Rate permanently or indefinitely ceases to provide the Screen Rate or the date beyond which the Screen Rate may no longer be used.
5.2.2 Each Party acknowledges and agrees for the benefit of the other Party that if a Screen Rate Replacement Event occurs and in order to preserve the economic balance of the Agreement, the Lender may replace the Screen Rate with another rate (the "Replacement Benchmark") which may include an adjustment margin in order to avoid any transfer of economic value between the Parties (if any) (the "Adjustment Margin") and the Lender will determine the date from which the Replacement Benchmark and, if any, the Adjustment Margin shall replace the Screen Rate and any other amendments to the Agreement required as a result of the replacement of the Screen Rate by the Replacement Benchmark.
5.2.3 The determination of the Replacement Benchmark and the necessary amendments will be made in good faith and taking into account, (i) the recommendations of any Relevant Nominating Body, or (ii) the recommendations of the administrator of the Screen Rate, or (iii) the industry solution recommended by professional associations in the banking sector or, (iv) the market practice observed in a series of comparable financing transactions on the replacement date.
5.2.4 In case of replacement of the Screen Rate, the Lender will promptly notify the Borrower of the replacement terms and conditions to replace the Screen Rate with the Replacement Benchmark, which will be applicable to Interest Periods starting at least two Business Days after the Screen Rate Replacement Date.
5.2.5 The provisions of Clause 5.2 (Replacement of Screen Rate) shall prevail over the provisions of Clause 5.1 (Market Disruption).
6. FEES
6.1 Commitment fees
One hundred and eighty (180) calendar days after the Signing Date, the Borrower shall pay to the Lender a commitment fee (due and calculated as mentioned below) of zero point twenty five percent (0.25%) per annum.
The commitment fee shall be computed at the rate specified above on the amount of the Available Credit pro-rated for the actual number of days elapsed increased by the amount of any Drawdowns to be made available by the Lender in accordance with any pending Drawdown Requests.
The first commitment fee shall be calculated for the period from (i) from the date falling sixty (60) calendar days after the Signing Date (excluded) up to (ii) the immediately following Payment Date (included). Subsequent commitment fees shall be calculated for periods commencing on the day immediately following a Payment Date (included) and ending on the next Payment Date (included).
The accrued commitment fee shall be payable (i) on each Payment Date within the Availability Period; (ii) on the Payment Date following the last day of the Drawdown Period; and (iii) in the event the Available Credit is cancelled in full, on the Payment Date following the effective date of such cancellation.
6.2 Front-end Fee
No later than one hundred and eighty (180) calendar days after the Signing Date and prior to the first Drawdown, the Borrower shall pay to the Lender an appraisal fee of zero point twenty five per cent (0.25%) calculated on the maximum amount of the Facility.
7. REPAYMENT
Following expiry of the Grace Period, the Borrower shall repay the Lender the principal amount of the Facility in eight (8) equal semi- annual instalments, due and payable on each Payment Date.
The first instalment shall be due and payable on December 15th, 2027 and the last instalment shall be due and payable on June 15th, 2031.
At the end of the Drawdown Period, the Lender shall deliver to the Borrower an amortisation schedule in respect of the Facility taking into account, if applicable, any potential cancellation of the Facility pursuant to Clauses 8.3 (Cancellation by the Borrower) and/or 8.4 (Cancellation by the Lender).
8. PREPAYMENT AND CANCELLATION
8.1 Voluntary prepayment
The Borrower shall not be entitled to prepay the whole or any part of the Facility prior to the expiration date of a five years (5) period starting on the Signing Date.
As from the date referred to in the previous paragraph, the Borrower may prepay the whole or any part of the Facility, subject to the following conditions:
(b) the amount to be prepaid shall be equal to one or several instalment(s) in principal;
(c) the contemplated prepayment date shall be a Payment Date;
(e) there is no outstanding unpaid amount; and
On the Payment Date on which the prepayment is made, the Borrower shall pay the full amount of the Prepayment Indemnities due and payable pursuant to Clause 9.3 (Prepayment Indemnity)
8.2 Mandatory prepayment
The Borrower shall immediately prepay the whole or part of the Facility upon receipt of a notice from the Lender informing the Borrower of any of the following events:
(a) Illegality: it becomes unlawful for the Lender pursuant to its applicable law to perform any of its obligations as contemplated by this Agreement or to fund or maintain the Facility;
(b) Additional Costs: the amount of any Additional Costs referred to in Clause 9.5 (Additional Costs) is significant and the Borrower has refused to pay such Additional Costs;
(c) Default: the Lender declares an Event of Default in accordance with Clause 13 (Events of defaults);
(d) Failure to justify use of funds: the Borrower fails to justify in a manner satisfactory to the Lender the use of the Advances by the Deadline for Use of Funds;
(e) Prepayment to a Co-Financier: the Borrower prepays whole or part of any amounts owed to a Co-Financier, in which case the Lender shall be entitled to request that the Borrower prepays, as the case may be, the Facility or an amount of the outstanding Facility in proportion with the amount prepaid to the Co- Financier.
In the case of each of the events specified in paragraphs (a), (b) and (c) above, the Lender reserves the right, after having notified the Borrower in writing, to exercise its rights as a creditor in the manner specified in paragraph (b) of Clause 13.2 (Acceleration).
8.3 Cancellation by the Borrower
Prior to the Deadline for Drawdown, the Borrower may cancel the whole or any part of the Available Credit by giving the Lender a three (3) Business Days’ prior notice.
Upon receipt of such notice of cancellation, the Lender shall cancel the amount notified by the Borrower, provided that the Eligible Expenses, as specified in the Financing Plan, are covered in a manner satisfactory to the Lender, except in the event that the Project is abandoned by the Borrower.
8.4 Cancellation by the Lender
The Available Credit shall be immediately cancelled upon delivery of a notice to the Borrower which shall be immediately effective, if:
(a) the Available Credit is not equal to zero on the Deadline for Drawdown;
(c) an Event of Default has occurred and is continuing; or
(d) an event referred to in Clause 8.2 (Mandatory prepayment) has occurred;
except where, in the case of paragraphs (a) and (b) of this Clause 8.4 (Cancellation by the Lender), the Lender has proposed to postpone the Deadline for Drawdown or the deadline for the first Drawdown on the basis of new financial conditions which will apply to any Drawdowns under the Available Credit and the Borrower has agreed on the proposition.
8.5 Restrictions
(a) Any notice of prepayment or cancellation given by a Party pursuant to this Clause 8 (Prepayment and cancellation) shall be irrevocable, and, unless otherwise provided in this Agreement, any such notice shall specify the date or dates on which the relevant prepayment or cancellation is to be made and the amount of that prepayment or cancellation.
9. ADDITIONAL PAYMENT OBLIGATIONS
9.1 Costs and expenses
9.2 Cancellation Indemnity
If the Facility is cancelled in full or in part in accordance with the terms of Clauses 8.3 (Cancellation by the Borrower) and/or 8.4 (Cancellation by the Lender) paragraphs (a), (b) and (c), the Borrower shall pay a cancellation indemnity computed at two point five (2.5%) on the cancelled amount of the Facility.
Each cancellation indemnity shall be due and payable on the Payment Date immediately following a cancellation of all or part of the Facility.
9.3 Prepayment Indemnity
On account of any losses suffered by the Lender as a result of the prepayment of the whole or any part of the Facility in accordance with Clauses 8.1 (Voluntary prepayment) or 8.2 (Mandatory prepayment), the Borrower shall pay to the Lender an indemnity equal to the aggregate amount of:
- the Prepayment Compensatory Indemnity; and
- any costs arising out of the break of any interest rate hedging swap transactions put in place by the Lender in connection with the amount prepaid.
9.4 Taxes and duties
9.5 Additional Costs
The Borrower shall pay to the Lender, within ten (10) Business Days of the Lender’s request, all Additional Costs incurred by the Lender as a result of: (i) the coming into force of any new law or regulation, or any amendment to, or any change in the interpretation or application of any existing law or regulation; or (ii) compliance with any law or regulation made after the Signing Date.
In this Clause, “Additional Costs” means:
(i) any cost arising after the Signing Date out of one of the event referred to in the first paragraph of this Clause and not taken into account by the Lender to compute the financial conditions of the Facility; or
(ii) any reduction of any amount due and payable under this Agreement,
which is incurred or suffered by the Lender as a result of (i) making the Facility available to the Borrower or (ii) entering into or performing its obligations under the Agreement.
9.6 Currency indemnity
If any sum due by the Borrower under this Agreement, or any order, judgment or award given or made in relation to such a sum, has to be converted from the currency in which that sum is payable into another currency, for the purpose of:
(i) making or filing a claim or proof against the Borrower; or
(ii) obtaining or enforcing an order, judgment or award in relation to any litigation or arbitration proceedings,
the Borrower shall indemnify the Lender against and, within ten
(10) Business Days of the Lender’s request and as permitted by law, pay to the Lender, the amount of any cost, loss or liability arising out of or as a result of the conversion including any discrepancy between: (A) the exchange rate used to convert the relevant sum from the first currency to the second currency; and
(B) the exchange rate or rate(s) available to the Lender at the time of its receipt of that sum. This obligation to indemnify the Lender is independent of any other obligation of the Borrower under this Agreement.
The Borrower waives any right it may have in any jurisdiction to pay any amount due under this Agreement in a currency or currency unit other than that in which it is expressed to be payable.
9.7 Due dates
Any indemnity or reimbursement payable by the Borrower to the Lender under this Clause 9 (Additional payment obligations) is due and payable on the Payment Date immediately following the circumstances which have given rise to the relevant indemnity or reimbursement.
Notwithstanding the above, any indemnity to be paid in connection with a prepayment pursuant to Clause 9.3 (Prepayment Indemnity) is due and payable on the date of the relevant prepayment.
10. REPRESENTATIONS AND WARRANTIES
All the representations and warranties set out in this Clause 10 (Representations and warranties) are made by the Borrower for the benefit of the Lender on the Signing Date. All the representations and warranties in this Clause 10 (Representations and warranties) are also deemed to be made by the Borrower on the date on which all of the conditions precedent listed in Part III of Schedule 4 (Conditions Precedent) are satisfied, on the date of each Drawdown Request, on each Drawdown Date and on each Payment Date, except that the repeating representations contained in Clause 10.9 (No misleading information) are deemed to be made by the Borrower in relation to the information provided by the Borrower since the date on which the representation was last made.
10.1 Power and authority
The Borrower has the power to enter into, perform and deliver this Agreement and Project Documents and to perform all contemplated obligations. The Borrower has taken all necessary action to authorise its entry into, performance and delivery of this Agreement and Project Documents and the transactions contemplated by this Agreement and Project Documents.
10.2 Validity and admissibility in evidence All Authorisations required:
(b) to make this Agreement and the Project Documents admissible in evidence in the courts of the jurisdiction of the Borrower or in arbitration proceedings as defined under Clause 17 (Governing Law, Enforcement and Choice of domicile),
have been obtained and are in full force and effect, and no circumstances exist which could result in the revocation, non-renewal or modification, in whole or in part, of any such Authorisations.
10.3 Binding obligations
The obligations expressed to be assumed by the Borrower under this Agreement and the Project Documents comply with all laws and regulations applicable to the Borrower in its jurisdiction and are legal, valid, binding and enforceable obligations which are effective in accordance with their written terms.
10.4 No filing or stamp taxes
Under the laws of the jurisdiction of incorporation of the Borrower, it is not necessary that the Agreement be filed, recorded or enrolled with any court or other authority in that jurisdiction or that any stamp, registration or similar taxes or fees be paid on or in relation to the Agreement or the transactions contemplated therein.
10.5 Transfer of funds
All amounts due by the Borrower to the Lender under this Agreement whether as principal or interest, late payment interest, Prepayment Indemnity, incidental costs and expenses or any other sum are freely convertible and transferable.
This representation shall remain in full force and effect until full repayment of all sums due to the Lender. In the event that the repayment dates of the Facility are extended by the Lender, no further confirmation of this representation shall be necessary.
The Borrower shall obtain Euros necessary for compliance with this representation in due course.
Should any difficulty in respect of Xxxxxx’x right of conversion and free transfer of any sum under this Agreement occur for any reason, including but not limiting to: (i) the coming into force of any new law or regulation, or any amendment to, or any change in the interpretation or application of any existing law or regulation; or (ii) compliance with any law or regulation made after the Signing Date; the Borrower will secure, without delay, all required certificates/confirmations from competent authorities (including National Bank of Serbia) in order to enable that all due sums under this Agreement are freely convertible and transferable.
10.6 No conflict with other obligations
The entry into and performance by the Borrower of, and the transactions contemplated by, this Agreement and the Project Documents do not conflict with any domestic or foreign law or regulation applicable to it, its constitutional documents (or any similar documents) or any agreement or instrument binding upon the Borrower or affecting any of its assets.
10.7 Governing law and enforcement
10.8 No default
No Event of Default is continuing or is reasonably likely to occur.
No breach of the Borrower is continuing in relation to any other agreement binding upon it, or affecting any of its assets, which has, or is reasonably likely to have, a Material Adverse Effect.
10.9 No misleading information
All information and documents supplied by the Borrower to the Lender were true, accurate and up-to-date as at the date they were provided or, if appropriate, as at the date at which they are stated to be given and have not been varied, revoked, cancelled or renewed on revised terms, and are not misleading in any material respect as a result of an omission, the occurrence of new circumstances or the disclosure or non-disclosure of any information.
10.10 Project Documents
The Project Documents represent the entire agreement relating to the Project on the Signing Date and are valid, binding and enforceable against third parties. The Project Documents have not been amended, terminated or suspended without the prior approval of the Lender since the date on which they were delivered to the Lender and there is no current dispute in connection with the validity of the Project Documents.
10.11 Project Authorisations
All Project Authorisations have been obtained or effected and are in full force and effect and there are no circumstances which may result in any Project Authorisation being revoked, cancelled, not renewed or varied in whole or in part.
10.12 Procurement
The Borrower: (i) has received a copy of the Applicable Procurement Guidelines and (ii) understands the terms of the Applicable Procurement Guidelines, in particular, those terms relating to any actions which the Lender may take in the case of a breach of the Applicable Procurement Guidelines.
The Borrower is contractually bound by the Applicable Procurement Guidelines as if such Applicable Procurement Guidelines were incorporated by reference into this Agreement. The Borrower confirms that the procurement, allocation and performance of the contracts relating to the implementation of the Project comply with the Applicable Procurement Guidelines.
The Borrower has acknowledged the content of the Schedule AFD’s Covenant of Integrity in Schedule 7 (AFD’s Covenant of Integrity) of this Agreement. Requirements stipulated in AFD’s Covenant of Integrity must be formally produced by any holder of a contract to be concluded within the framework of the Project and therefore, where appropriate, included in the pre-procurement documentation
10.13 Pari passu ranking
The Borrower’s payment obligations under this Agreement rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors.
10.14 Origin of funds, Acts of Corruption, Fraud and Anti-Competitive Practices The Borrower represents and warrants that:
(i) all the funds invested in the Project are from the proceeds of the Facility and the Co-financing, pursuant to the Law Approving the Budget of the Republic of Serbia for the year
2021 (Zakon o budžetu Republike Srbije za 2021. godinu, Official Gazette of the Republic of Serbia, no. 149/2020);
(ii) the Project (in particular, the negotiation, award and performance of any contracts financed with the Facility) has not given rise to any Act of Corruption, Fraud or Anti- Competitive Practice.
10.15 No Material Adverse Effect
The Borrower represents and warrants that no event or circumstance which is likely to have a Material Adverse Effect has occurred or is likely to occur.
10.16 No immunity
If and to the extent that the Borrower may now or in future in any jurisdiction claim immunity for itself or its assets and to the extent that a jurisdiction grants immunity to the Borrower, the Borrower will not be entitled to claim for itself or any of its assets immunity from suit, execution, attachment or other legal process in connection with this Agreement to the fullest extent permitted by the laws of such jurisdiction.
The Borrower does not waive any immunity in respect of any present or future (i) “premises of the mission” as defined in the Vienna Convention on Diplomatic Relations signed in 1961, (ii) “consular premises” as defined in the Vienna Convention on Consular Relations signed in 1963,
(iii) assets that cannot be in commerce, (iv) military property or military assets and buildings, weapons and equipment designated for defence, state and public security, (v) receivables the assignment of which is restricted by law, (vi) natural resources, common use items, grids in public ownership, river basin land and water facilities in public ownership, protected natural heritage in public ownership and cultural heritage in public ownership, (vii) real estate in public ownership which is, partly or entirely, used by the authorities of the Republic of Serbia, autonomous provinces or local self-government for the purpose of exercising their rights and duties; (viii) the state's, autonomous province’s or local government’s stocks and shares in companies and public enterprises, unless the relevant entity consented to the establishment of a pledge over such stocks or shares, (ix) movable or immovable assets of health institutions, unless a mortgage was established based on the government's decision, (x) monetary assets and financial instruments determined as financial collateral in accordance with the law regulating financial collateral including monetary assets and financial instruments which are pledged in accordance with such law or (xi) other assets exempt from enforcement by international law or international treaties.
11. UNDERTAKINGS
The undertakings in this Clause 11 (undertakings) take effect on the Signing Date and remain in full force and effect for as long as any amount is outstanding under this Agreement.
11.1 Compliance with Laws, Regulations and Obligations The Borrower shall comply:
(b) with all of its obligations under the Project Documents.
11.2 Authorisations
The Borrower shall promptly obtain, comply with and do all that is necessary to maintain in full force and effect any Authorisation required under any applicable law or regulation to enable it to perform its obligations under this Agreement and the Project Documents and to ensure the legality, validity, enforceability and admissibility in evidence of this Agreement or any Project Document.
11.3 Project Documents
The Borrower through the Ministry of Construction, Transports and Infrastructure (MCTI) shall provide the Co-Financier on behalf of the Lender for no-objection or information, as the case may be, with a copy of any Project Documents or amendment thereto and shall not (and shall not agree to) make any material amendment to any Project Document without obtaining the Co-Financier’s prior no-objection.
11.4 Implementation and preservation of the Project The Borrower through MCTI shall:
(i) implement the Project in accordance with the generally accepted safety principles and in accordance with technical standards in force; and
(ii) maintain the Project assets in accordance with all applicable laws and regulations and in good operating and maintenance conditions, and use such assets in compliance with their purpose and all applicable laws and regulations.
11.5 Procurement
In relation to the procurement, award and performance of contracts entered into in connection with the implementation of the Project, the Borrower shall comply with, and implement, the Applicable Procurement Procedures.
The Borrower shall take all actions and steps necessary for the effective implementation of the Applicable Procurement Procedures.
The Borrower through MCTI undertakes to:
(i) submit (a) updated procurement plans, and (b) contracts subjects to prior review of the Co-Financier.
(ii) in the case of prior review contracts, provide the Lender with a copy of the evaluation report (including prequalification report and shortlisting report, as applicable) at the same time it is submitted to the Co-Financier. If the bidder does not meet AFD’s financing eligibility requirements, the Lender will promptly inform the Co- Financier and the Borrower. The Co-Financier and the Lender shall then consult with the Borrower to determine the appropriate course of action;
(iii) in the case of post review contracts, include in the terms of reference of the audits referred to in Article 3.4.3(h) (Control – Audit) a review of the Borrower’s controls and operating procedures for complying with AFD’s financing eligibility requirements regarding any Financial Sanctions List;
(iv) retain all documentation with respect to contracts subjects to post review during project implementation and up to two years after the Completion Date;
(v) in case of contracts subject to international competition, publish the procurement notices on the website xxxx://xxx.xxxxxxxx.xxx;
in addition to the Applicable Procurement Procedures, make the AFD’s Covenant of Integrity, as provided in Schedule 7 (AFD’s Covenant of Integrity), as a binding document to each of the Contractors including in cases of non-competitive procurement processes.
11.6 Environmental and social responsibility
11.6.1 Implementation of environmental and social measures
In order to promote sustainable development, the Parties agree that it is necessary to promote compliance with internationally recognised environmental and labour standards, including fundamental conventions of the International Labour Organization (“ILO”) and the international environmental laws and regulations applicable in the Borrower’s jurisdiction. For such purpose, the Borrower shall:
with respect to its business activities:
with respect to the Project:
11.6.2 Environmental and social (ES) complaints-management
11.7 Additional financing
The Borrower shall not amend or alter the Financing Plan without obtaining the Lender’s prior written consent and shall finance any additional costs not anticipated in the Financing Plan on terms which ensure that the Facility will be repaid.
11.8 Pari passu ranking
The Borrower undertakes (i) to ensure that its payment obligations under this Agreement rank at all times at least pari passu with its other present and future unsecured and unsubordinated payment obligations;
(ii) not to grant prior ranking or guarantees to any other lenders except if the same ranking or guarantees are granted by the Borrower in favour of the Lender, if so requested by the Lender.
11.9 Designated Account
The Borrower shall open, maintain and fund the Designated Account in accordance with the terms and conditions of this Agreement.
11.10 Inspections
The Borrower hereby authorizes the Lender and its representatives to carry out inspections the purpose of which will be to assess the implementation and operations of the Project as well as the impact and the achievement of the objectives of the Project.
The Borrower shall co-operate and provide all reasonable assistance and information to the Lender and its representatives when carrying out such inspections, the timing and format of which shall be determined by the Lender following consultation with the Borrower.
The Borrower shall retain and make available for inspection by the Lender, all documents relating to the Eligible Expenses for a period of ten (10) years from the date of the last Drawdown under the Facility.
11.11 Project evaluation
The Borrower acknowledges that the Lender may carry out, or procure that a third party carries out on its behalf, an evaluation of the Project.
Feedback from this evaluation will be used to produce a summary containing information on the Project, such as: total amount and duration of the funding, objectives of the Project, expected and achieved quantified outputs of the Project, assessment of the relevance, effectiveness, impact and viability/sustainability of the Project, main conclusions and recommendations.
The main objective of the evaluation will be the articulation of credible and independent judgement on the key issues of relevance, implementation (efficiency) and effects (effectiveness, impact and sustainability).
Evaluators will need to take into account in a balanced way the different legitimate points of view that may be expressed and conduct the evaluation impartially.
The Borrower will be involved as closely as possible in the evaluation, from the drafting of the Terms of Reference to the delivery of the final report.
The Borrower agrees to the publication of this summary, in particular on the Lender's website.
11.12 Implementation of the Project
The Borrower shall:
(i) ensure that any person, group or entity participating in the implementation of the Project is not listed on any Financial Sanctions List (including in particular the fight against terrorist financing); and
(ii) not finance any supplies or sectors which are subject to an Embargo by the United Nations, the European Union or France.
11.13 Origin of funds, no Acts of Corruption, Fraud or Anti-Competitive Practices The Borrower undertakes:
(i) to ensure that the funds, other than those of State origin, invested in the Project will not be of an Illicit Origin;
(ii) To ensure that the Project (in particular during the negotiation, entry into and performance of the contracts funded out of the Facility) shall not give rise to any Act of Corruption, Fraud or Anti- Competitive Practice;
(iii) as soon as it becomes aware of, or suspects, any Act of Corruption, Fraud or Anti-Competitive Practice, to inform the Lender without any delay;
(iv) in the event referred to in paragraph 0 above, or at the Lender’s request if the Lender suspects that the acts or practices referred to in paragraph 0 have occurred, take all necessary actions to remedy the situation in a manner satisfactory to the Lender and within the time period determined by the Lender; and
(v) to notify the Lender without delay if it has knowledge of any information which leads it to suspect any Illicit Origin of any funds invested in the Project.
12. INFORMATION UNDERTAKINGS
The undertakings in this Clause 12 (information undertakings) take effect on the Signing Date and remain in full force and effect for as long as any amount is outstanding under this Agreement.
12.1 Financial Information
The Borrower shall supply to the Lender any information that the Lender may reasonably require in relation to the Borrower’s foreign and domestic debt as well as the status of any guaranteed loans.
12.2 Progress Report
12.3 Co-Financing
The Borrower shall promptly inform the Lender of any cancellation (in whole or in part) or any prepayment by the Co-Financier.
12.4 Information - miscellaneous
The Borrower shall supply to the Lender and (the Co-Financier with respect to (b) to (c):
13. EVENTS OF DEFAULTS
13.1 Events of Default
Each of the events or circumstances set out in this Clause 13.1 (Events of Default) is an Event of Default.
The Borrower does not pay on the due date any amount payable by it under this Agreement in the manner required under this Agreement. However, without prejudice to Clause 4.3 (Late payment and default interest), no Event of Default will occur under this paragraph (a) if such payment is made in full by the Borrower within five (5) Business Days of the due date.
(30) calendar days after the date on which the Lender informed the Borrower of such challenge or notice or the Borrower became aware of such challenge or notice; and (ii), according to the opinion of the Lender and the Co-Financier, such dispute or request has not had a Material Adverse Effect during such thirty
(30) day period.
(c) Undertakings and Obligations
The Borrower does not comply with any term of the Agreement, including, without limitation, any of the undertakings it has given pursuant to Clause 11 (undertakings) and Clause 12 (Information undertakings).
Save for the undertakings given pursuant to Clause 11.6 (Environmental and Social Liability), Clauses 11.12 (Implementation of the Project) and 11.13 (Origin of funds, no Acts of Corruption, Fraud or Anti-Competitive Practices) in respect of which no grace period is permitted, no Event of Default will occur under this paragraph (c) if the non-compliance is capable of remedy and is remedied within five (5) Business Days of the earlier of (A) the date of the Lender’ notice of failure to the Borrower; and (B) the Borrower becoming aware of the breach, or within the time limit determined by the Lender in the case referred to in subparagraph (iv) of Clause 11.13 (Origin of funds, no Acts of Corruption, Fraud or Anti-Competitive Practices).
A representation or warranty made by the Borrower in the Agreement, including under Clause 10 (Representations and warranties), or in any document delivered by or on behalf of the Borrower under or in relation to the Agreement, is incorrect or misleading or proves to have been incorrect or misleading in any material respect when made or deemed to be made.
(i) Subject to paragraph (iii), any Financial Indebtedness of the Borrower is not paid on its due date or, if applicable, within any grace period granted pursuant to the relevant documentation.
(ii) A creditor has cancelled or suspended its commitment towards the Borrower pursuant to any Financial Indebtedness, or has declared the Financial Indebtedness due and payable prior to its specified maturity, or requested prepayment in full of the Financial Indebtedness, in each case, as a result of an event of default or any provision having a similar effect (howsoever described) pursuant to the relevant documentation.
(iii) No Event of Default will occur under this Clause 13.1 (e) if the relevant amount of Financial Indebtedness or the commitment for Financial Indebtedness falling within paragraphs (i) and (ii) above is less than thirty millions Euros (EUR 30,000,000) (or its equivalent in any other currency(ies)).
It is or becomes unlawful for the Borrower to perform any of its obligations under this Agreement.
Any obligation of the Borrower under this Agreement is not or ceases to be legal, valid, binding or enforceable and the cessation individually or cumulatively materially and adversely affects the interests of the Lender under this Agreement.
Any event (including a change in the political situation of the country of the Borrower) or any measure which is likely, according to the Lender’s opinion, to have a Material Adverse Effect occurs or is likely to occur.
(h) Withdrawal or suspension of the Project Any of the following occurs:
(i) the implementation of the Project is suspended or postponed for a period exceeding six (6) months; or
(ii) the Project has not been completed in full by the Deadline for Use of Funds; or
(iii) the Borrower withdraws from, or ceases to participate in, the Project.
Any Authorisation required for the Borrower in order to perform or comply with its obligations under this Agreement or its other material obligations under any Project Documents or required in the ordinary course of the Project is not obtained within the required timeframe or is cancelled or becomes invalid or otherwise ceases to be in full force and effect.
(j) Judgments, rulings or decisions having a Material Adverse Effect
Any judgment or arbitral award or any judicial or administrative decision affecting the Borrower has or is reasonably likely, according to the opinion of the Lender, to have a Material Adverse Effect, occurs or is likely to occur.
(k) Suspension of free convertibility and free transfer
Free convertibility and free transfer of any of the amounts due by the Borrower under this Agreement, or any other facility provided by the Lender to the Borrower or any other borrower of the jurisdiction of the Borrower, is challenged.
Any foreign exchange law is amended, enacted or introduced or is reasonably to be amended, enacted or introduced in the Republic of Serbia that (in the opinion of the Lender): (i) has or is reasonably likely to have the effect of prohibiting, or restricting or delaying in any material respect any payment that the Borrower is required to make pursuant to the terms of this Agreement; or (ii) is materially prejudicial to the interests of the Lenders under or in connection with this Agreement.
13.2 Acceleration
On and at any time after the occurrence of an Event of Default, the Lender may, without providing any formal demand or commencing any judicial or extra-judicial proceedings, by written notice to the Borrower:
(a) cancel the Available Credit; and/or
Without prejudice to the above, in the event that an Event of Default occurs as set out in Clause 13.1 (Events of Default), the Lender reserves the right to, upon written notice to the Borrower, (i) suspend or postpone any Drawdowns under the Facility; and/or (ii) suspend the finalisation of any agreements relating to other possible financial offers which have been notified by the Lender to the Borrower; and/or (iii) suspend or postpone any drawdown under any loan agreement entered into between the Borrower and the Lender.
If any drawdowns are postponed or suspended by a Co-Financier under an agreement between such Co-Financier and the Borrower, the Lender reserves the right to postpone or suspend any Drawdowns under the Facility.
13.3 Notification of an Event of Default
In accordance with Clause 12.4 (Information), the Borrower shall promptly notify the Lender upon becoming aware of any event which is or is likely to be an Event of Default and inform the Lender of all the measures contemplated by the Borrower to remedy it.
14. ADMINISTRATION OF THE FACILITY
14.1 Payments
All payments received by the Lender under this Agreement shall be applied towards the payment of expenses, fees, interest, principal
amounts or any other sum due under this Agreement in the following order:
1) incidental costs and expenses;
3) late-payment interest and default interest;
14.2 Set-off
Without prior approval of the Borrower, the Lender may, at any time, set-off due and payable obligations owed by the Borrower against any amounts held by the Lender on behalf of the Borrower or any due and payable obligations owed by the Lender to the Borrower. If the obligations are in different currencies, the Lender may convert either obligation at the prevailing currency exchange rate for the purpose of the set-off.
All payments made by the Borrower under the Agreement shall be calculated and made without set-off. The Borrower is prohibited from making any set-off.
14.3 Business Days
If a payment is due on a day which is not a Business Day, the due date for that payment shall be the next Business Day if the next Business Day is in the same calendar month, or the preceding Business Day if the next Business Day is not in the same calendar month.
During any extension of the Payment Date for a principal or unpaid amount under this Agreement, interest shall be payable on that amount during the extension period at the rate applicable on the original Payment Date.
14.4 Currency of payment
The currency of each amount payable under this Agreement is Euros, except as provided in Clause 14.6 (Place of payment).
14.5 Day count convention
Any interest, fee or expense accruing under this Agreement will be calculated on the basis of the actual number of days elapsed and a year of three hundred and sixty (360) days in accordance with European interbank market practice.
14.6 Place of payment
RIB Code: 00000 00000 00000040235 03
IBAN Code: XX00 0000 0000 0000 0000 0000 000
Banque de France SWIFT code (BIC): XXXXXXXXXXX
opened by the Lender at the Banque de France (head office/main branch) in Paris or any other account notified by the Lender to the Borrower.
• Principal: name, address, bank account number
• Principal’s bank: name and address
• Reference: name of the Borrower, name of the Project, reference number of the Agreement
(d) All payments made by the Borrower shall comply with this Clause 14.6 (Place of payment) in order for the relevant payment obligation to be deemed discharged in full.
14.7 Payment Systems Disruption
If the Lender determines (in its discretion) that a Payment Systems Disruption Event has occurred or the Borrower notifies the Lender that a Payment Systems Disruption Event has occurred, the Lender:
(c) shall not be liable for any cost, loss or liability arising as a result of its taking, or failing to take, any actions pursuant to this Clause 14.7 (Payment Systems Disruption).
15. MISCELLANEOUS
15.1 Language
The language of this Agreement is English. If this Agreement is translated into another language, the English version shall prevail in the event of any conflicting interpretation or in the event of a dispute between the Parties.
All notices given or documents provided under, or in connection with, this Agreement shall be in English.
The Lender may request that a notice or document provided under, or in connection with, this Agreement which is not in English is accompanied by a certified English translation, in which case, the English translation shall prevail unless the document is a statutory document of a company, legal text or other official document.
15.2 Certifications and determinations
In any litigation or arbitration arising out of or in connection with this Agreement, entries made in the accounts maintained by the Lender are prima facie evidence of the matters to which they relate.
Any certification or determination by the Lender of a rate or amount under this Agreement will be, in the absence of manifest error, conclusive evidence of the matters to which it relates.
15.3 Partial invalidity
If, at any time, a term of this Agreement is or becomes illegal, invalid or unenforceable, neither the validity, legality or enforceability of the remaining provisions of this Agreement will in any way be affected or impaired.
15.4 No Waiver
Failure to exercise, or a delay in exercising, on the part of the Lender of any right under the Agreement shall not operate as a waiver of that right.
Partial exercise of any right shall not prevent any further exercise of such right or the exercise of any other right or remedy under the applicable law.
The rights and remedies of the Lender under this Agreement are cumulative and not exclusive of any rights and remedies under the applicable law.
15.5 Assignment
The Borrower may not assign or transfer, in any manner whatsoever, all or any of its rights and obligations under this Agreement without the prior written consent of the Lender.
The Lender may assign or transfer any of its rights or obligations under this Agreement to any other third party and may enter into any sub- participation agreement relating thereto.
15.6 Legal effect
The Schedules annexed hereto, the Procurement Guidelines and the recitals hereof form part of this Agreement and have the same legal effect.
15.7 Entire agreement
As of the Signing Date, this Agreement represents the entire agreement between the Parties in relation to the matters set out herein, and supersedes and replaces all previous documents, agreements or understandings which may have been exchanged or communicated as part of the negotiations in connection with this Agreement.
15.8 Amendments
No amendment may be made to this Agreement unless expressly agreed in writing between the Parties.
15.9 Confidentiality - Disclosure of information
(i) any person to whom the Borrower has a disclosure obligation under any applicable law, regulation or judicial ruling; or
(c) Furthermore, the Borrower hereby expressly authorizes the Lender to communicate and to disclose on the Lender’s Website information relating to the Project and its financing as listed in Schedule 6 (Information that and the Lender is authorized expressly to disclose on the Lender’s Website (in particular on its open data platform)).
15.10 Limitation
The statute of limitations of any claims under this this Agreement shall be ten (10) years, except for any claim of interest due under this Agreement.
15.11 Hardship
Each Party hereby acknowledges that the provisions of article 1195 of the French Code civil shall not apply to it with respect to its obligations under the Agreement and it shall be not entitled to make any claim under article 1195 of the French Code civil.
16. NOTICES
16.1 In writing and addresses
Any notice, request or other communication to be given or made under or in connection with this Agreement shall be given or made in writing and, unless otherwise stated, may be given or made by fax or by letter sent by the post office to the address and number of the relevant Party set out below:
For the Borrower:
MINISTRY OF FINANCE
Address: 00 Xxxxx Xxxxxx Xx. 11000 Belgrade Telephone: (000-00) 0000-000
Facsimile: (000-00) 0000-000 E-mail: xxxxxxx@xxxx.xxx.xx
Attention: Mr. Xxxxxx Xxxx, Minister of Finance For the Lender:
AFD – WESTERN BALKANS REGIONAL OFFICE
Address: Xxxx Xxxxxx 00, 00000 Xxxxxxxx, Xxxxxxxx xx Xxxxxx Telephone: (000-00) 0000-000
Attention: AFD Director for Western Balkans Regional Office With a copy to:
AFD – XXXXX XXXX OFFICE
Address: 0, xxx Xxxxxx Xxxxxxx – 00000 Xxxxx Xxxxx 00, Xxxxxx Telephone: + 00 0 00 00 00 00
Attention: Director of Europe, Middle East and Asia Department
or such other address, fax number, department or officer as one Party notifies to the other Party.
16.2 Delivery
Any notice, request or communication made or any document sent by a Party to the other Party in connection with this Agreement will only be effective:
(a) if by fax, when received in a legible form; and
(b) if by letter sent though the post office, when delivered to the correct address,
and, where a particular person or a department is specified as part of the address details provided under Clause 16.1 (In writing and addresses), if such notice, request or communication has been addressed to that person or department.
16.3 Electronic communications
(i) agree that, unless and until notified to the contrary, this is to be an accepted form of communication;
(ii) (notify each other in writing of their electronic mail address and/or any other information required to enable the sending and receipt of information by that means; and
(iii) notify each other of any change to their address or any other such information supplied by them.
17. GOVERNING LAW, ENFORCEMENT AND CHOICE OF DOMICILE
17.1 Governing Law
This Agreement is governed by French law.
17.2 Arbitration
Any dispute arising out of or in connection with this Agreement shall be referred to and finally settled by arbitration under the Rules of Conciliation and Arbitration of the International Chamber of Commerce
applicable on the date of commencement of arbitration proceedings, by one or more arbitrators to be appointed in accordance with such Rules.
The seat of arbitration shall be Paris and the language of arbitration shall be English.
This arbitration clause shall remain in full force and effect if this Agreement is declared void or is terminated or cancelled and following expiry of this Agreement. The Parties’ contractual obligations under this Agreement are not suspended if a Party initiates legal proceedings against the other Party.
The Parties expressly agree that, by signing this Agreement, the Borrower irrevocably waives all rights of immunity in respect of jurisdiction or execution on which it could otherwise rely.
For the avoidance of doubt, this waiver includes a waiver of immunity from:
(i) Any suit or legal, judicial or arbitral process arising out of, in relation to or in connection with this Agreement;
(ii) Giving of any relief by way of injunction or order for specific performance or for the recovery of assets or revenues;
(iii) Any effort to confirm, recognize, enforce or execute any decision, settlement, award judgment, execution order or, in an action in rem, any effort for the arrest, for the arrest, detention or sale of any of its assets and revenues that result from any arbitration, or any legal, judicial or administrative proceedings.
The Borrower does not waive any immunity in respect of any present or future (i) “premises of the mission” as defined in the Vienna Convention on Diplomatic Relations signed in 1961, (ii) “consular premises” as defined in the Vienna Convention on Consular Relations signed in 1963,
(iii) assets that cannot be in commerce, (iv) military property or military assets and buildings, weapons and equipment designated for defence, state and public security, (v) receivables the assignment of which is restricted by law, (vi) natural resources, common use items, grids in public ownership, river basin land and water facilities in public ownership, protected natural heritage in public ownership and cultural heritage in public ownership, (vii) real estate in public ownership which is, partly or entirely, used by the authorities of the Republic of Serbia, autonomous provinces or local self-government for the purpose of exercising their rights and duties; (viii) the state's, autonomous province’s or local government’s stocks and shares in companies and public enterprises, unless the relevant entity consented to the establishment of a pledge over such stocks or shares, (ix) movable or immovable assets of health institutions, unless a mortgage was established based on the government's decision, (x) monetary assets and financial instruments determined as financial collateral in accordance with the law regulating financial collateral including monetary assets and financial instruments which are pledged in accordance with such law or (xi) other assets exempt from enforcement by international law or international treaties
17.3 Service of process
Without prejudice to any applicable law, for the purposes of serving judicial and extrajudicial documents in connection with any action or proceedings referred to above, the Borrower irrevocably chooses its registered office as at the date of this Agreement at the address set out in Clause 16 (Notices) for service of process, and the Lender chooses the address “AFD SIEGE” set out in Clause 16 (Notices) for service of process.
18. DURATION
This Agreement comes into force on the Effective Date and remains in full force and effect for as long as any amount is outstanding under this Agreement.
Notwithstanding the above, the obligations under Clauses 12.4 (e) (Information
- miscellaneous) and 15.9 (Confidentiality - Disclosure of information) shall survive and remain in full force and effect for a period of five years after the last Payment Date; the provisions of Clause 11.6.2 (Environmental and social (ES) complaints-management) shall continue to have effect whilst any grievance lodged under the ES Complaints-Management Mechanism’s Rules of Procedure is still being processed or monitored.
Executed in three (3) originals, one (1) for the Lender and two (2) for the Borrower, in Belgrade (Republic of Serbia), on May 10, 2021.
BORROWER REPUBLIC OF SERBIA
Represented by:
Name: His Excellency Mr. Xxxxxx Xxxx, s.r. Capacity: Minister of Finance
LENDER
AGENCE FRANÇAISE DE DÉVELOPPEMENT
Represented by:
Name: Ms. Xxxxxx Xxxxxxx, s.r. Capacity: Regional Director for Eurasia
Xxxxxxxx, His Excellency Xx. Xxxx-Xxxxx Xxxxxxx, Ambassador of France, s.r.
SCHEDULE 1A - DEFINITIONS
Act of Corruption | means any of the following: (a) the act of promising, offering or giving, directly or indirectly, to a Public Official or to any person who directs or works, in any capacity, for a private sector entity, an undue advantage of any nature, for the relevant person himself or herself or for another person or entity, in order that this person acts or refrains from acting in breach of his or her legal, contractual or professional obligations and, having for effect to influence his or her own actions or those of another person or entity; or (b) the act of a Public Official or any person who directs or works, in any capacity, for a private sector entity, soliciting or accepting, directly or indirectly, an undue advantage of any nature, for the relevant person himself or herself or for another person or entity, in order that this person acts or refrains from acting in breach of his or her legal, contractual or professional obligations and, having for effect to influence his or her own actions or those of another person or entity. |
Advance(s) | has the meaning given to it in Clause 3.4 (Disbursement Methods) |
AFD’s Covenant of Integrity | Means the statement, to be signed by each of the Contractors, as provided in Schedule 7 (AFD’s Covenant of Integrity), and the content of which can be updated from time to time by the Lender. |
Agreement | means this credit facility agreement, including its recitals, Schedules and, if applicable, any amendments made in writing thereto. |
Anti-Competitive Practices | means: (a) any concerted or implicit action having as its object and/or as its effects to impede, restrict or distort fair competition in a market, including without limitation when it tends to: (i) limit market access or the free exercise of competition by other companies; (ii) prevent price setting by the free play of markets by artificially favouring the increase or decrease of such prices; (iii) limit or control any production, markets, investment or technical progress; or (iv) share out markets or sources |
of supply; (b) any abuse by a company or group of companies of a dominant position within a domestic market or in a substantial part thereof; or (c) any bid or predatory pricing having as its object and/or its effect to eliminate from a market, or to prevent a company or one of its products from accessing the market. | |
Applicable Procurement Guidelines | means those procurement policies, guidelines and procedures referred to in the IBRD Loan Agreement. |
Authorisation(s) | means any authorisation, consent, approval, resolution, permit, licence, exemption, filing, notarisation or registration, or any exemptions in respect thereof, obtained from or provided by an Authority, whether granted by means of an act, or deemed granted if no answer is received within a defined time limit, as well as any approval and consent given by the Borrower’s creditors. |
Authority(ies) | means any government or statutory entity, department or commission exercising a public prerogative, or any administration, court, agency or State or any governmental, administrative, tax or judicial entity. |
Availability Period | means the period from and including the Signing Date up to the Deadline for Drawdown. |
Available Credit | means, at any given time, the maximum principal amount specified in Clause 2.1 (Facility) less: (i) the aggregate amount of any Drawdowns drawn by the Borrower; (ii) the amount of any Drawdown to be made pursuant to any pending Drawdown Request; and (iii) any portion of the Facility which has been cancelled pursuant to Clauses 8.3 (Cancellation by the Borrower) and/or 8.4 (Cancellation by the Lender). |
Business Day | means a day (other than Saturday or Sunday) on which banks are open for the entire day for general business in Paris, and which is a TARGET Day in the event that a Drawdown has to be done on such day. |
Certified | means for any copy, photocopy or other duplicate of an original document, the certification by any duly authorised person, as to the conformity of the copy, photocopy or duplicate with the original document. |
Co-Financier | means the International Bank for Reconstruction and Development (IBRD). |
Co-Financing | means the loan provided by the Co-Financier with a maximum amount of fifty-one million Euros (EUR 51,000,000) to finance in part the Project. |
Co-Financing Agreement | means the agreement to be entered into between the Lender and the Co-Financier, providing terms and conditions under which, among others, the Lender and the Co-Financier shall co-finance the Project and a number of monitoring works that the Lender delegates to the Co-Financier with respect to the Facility and the Project implementation. |
Contractor(s) | means third party contractor(s) in charge of implementing all or part of the Project pursuant to Project Documents. |
Deadline for Drawdown | means April 30th, 2027, date after which no further Drawdown may occur. |
Deadline for Use of Funds | means April 30th, 2027. |
Disbursement and Financial Information Letter or DFIL | means the Disbursement and Financial Information Letter to be issued by the Co-Financier to the Borrower (after prior consultation with the Lender) providing instructions with respect to drawdowns (disbursements) under the Facility and the Co-Financier Loan Agreement between the Borrower and the Co-Financier, in accordance with the Co-Financing Agreement, as such DFIL may be amended from time to time. |
Drawdown | means a drawdown of all or part of the Facility made, or to be made, available by the Lender to the Borrower pursuant to the terms and conditions set out in Clause 3 (Drawdown of Funds) or the principal amount outstanding of such Drawdown which remains due and payable at a given time [including any Advance]. |
Drawdown Date | means the date on which a Drawdown is made available by the Lender. |
Drawdown Period | means the period starting on the first Drawdown Date up to and including the first of the following date: (i) the date on which the Available Credit is equal to zero; (ii) the Deadline for Drawdown. |
Drawdown Request | means a request substantially in the form set out in Schedule 5A (Form of Drawdown Request). |
Disbursement Notice | means the notice sent by the Co-Financier to the Lender advising the Lender to make available to the Borrower the requested Drawdown, in accordance with the Co- Financing Agreement. |
Effective Date | means the date on which the conditions set out in Part II of Schedule 4 (Conditions Precedent) have been fulfilled and shall occur at the latest 180 calendar days after the Signing Date. |
Eligible Expense(s) | means the expense(s) relating to the components of the Project as set out in Schedule 3 (Financing Plan). |
Embargo | means any sanction of a commercial nature aiming at prohibiting any import and/or export (supply, sale or transfer) of one or several goods, products or services going to and/or coming from a country for a given period as published and amended from time to time by the United Nations, the European Union or France. |
ES Complaints- Management Mechanism’s Rules of Procedure | means the contractual terms contained in the Environmental and Social Complaints-Management Mechanism’s Rules of Procedure, which is available on the Website, as amended from time to time. |
ESCP | means the environmental and social commitment plan referred to in the IBRD Loan Agreement, setting out the Beneficiary’s commitment to avoid, mitigate or compensate negative consequences of the Project, on human and natural environment and any planned monitoring, as well as the formal steps required in order to carry out such actions. |
EURIBOR | means the inter-bank rate applicable to Euro for any deposits denominated in Euro for a period comparable to the relevant period, as determined by the European Money Markets Institute (EMMI), or any successor administrator, at 11:00 am Brussels time, two (2) |
Business Days before the first day of the Interest Period. | |
Euro(s) or EUR | means the single currency of the member states of the European Economic and Monetary Union, including France, and having legal tender in such Member States. |
Event of Default | means any event or circumstance set out in Clause 13.1 (Events of Default). |
Facility | means the credit facility made available by the Lender to the Borrower in accordance with this Agreement up to the maximum principal amount set out in Clause 2.1 (Facility). |
Financial Indebtedness | means any financial indebtedness for and in respect of: (a) any monies borrowed on a short, medium or long-term basis; (b) any amounts raised pursuant to the issue of bonds, notes, debentures, loan stock or any similar instruments; (c) any funds raised under any other transaction (including any forward sale or purchase agreement) having the commercial effect of a borrowing; (d) any potential payment obligation that results from a guarantee, bond, or any other instrument. |
Financial Sanctions List | means the list(s) of persons, groups or entities which are subject to financial sanctions by the United Nations, the European Union and/or France. For information purposes only and for the convenience of the Borrower, who may rely on, the following references or website addresses: For the lists maintained by the United Nations, the following website may be consulted: xxxxx://xxx.xx.xxx/xxxxxxxxxxxxxxx/xx/xxxxxxx/xx-xx- consolidated-list For the lists maintained by the European Union, the following website may be consulted: xxxxx://xxxx.xxxxxx.xx/xxxxxxxxxxxx/xxxxxxxxxxxx- homepage/8442/consolidated-list-sanctions_fr For the lists maintained by France, the following |
website may be consulted: xxxxx://xxx.xxxxxx.xxxxxxxx.xxxx.xx/xxxxxxxx-xxx- entreprises/sanctions-economiques/dispositif-national- de-gel-des-avoirs | |
Financing Plan | means the financing plan of the Project set out in Schedule 3 (Financing Plan). |
Fixed Reference Rate | means zero point sixty-three percent (0.63%) per annum. |
Fraud | means any unfair practice (acts or omissions) deliberately intended to mislead others, to intentionally conceal elements there from, or to betray or vitiate his/her consent, to circumvent any legal or regulatory requirements and/or to violate internal rules and procedures of the Borrower or a third party in order to obtain an illegitimate benefit. |
Fraud against the Financial Interests of the European Community | means any intentional act or omission intended to damage the European Union budget and involving (i) the use or presentation of false, inaccurate or incomplete statements or documents, which has as effect the misappropriation or wrongful retention of funds or any illegal reduction in resources of the general budget of the European Union; (ii) the non-disclosure of information with the same effect; and (iii) misappropriation of such funds for purposes other than those for which such funds were originally granted. |
Grace Period | means the period from the Signing Date up to and including the date falling seventy-two (72) months after such date, during which no principal repayment under the Facility is due and payable. |
IBRD | means International Bank for Reconstruction and Development. |
IBRD Loan Agreement | means the agreement and all the related financing documentations to be entered into between IBRD (the Co-Financier) and the Borrower providing terms and conditions under which the IBRD loan will be made available to the Borrower. |
Illicit Origin | means funds obtained through: (a) the commission of any predicate offence as designated in the FATF 40 recommendations Glossary under "Designated categories of offences" (xxxx://xxx.xxxx- |
xxxx.xxx/xxxxx/xxxx/xxxxxxxxx/xxxxxxxxxxxxxxx/Xx commandations_GAFI.pdf ); (b) any Act of Corruption; or (c) any Fraud against the Financial Interests of the European Community, if or when applicable. | |
Index Rate | means the TEC 10 daily index, the ten-year constant maturity rate displayed on a daily basis on the relevant quotation page of the Reference Financial Institution or any other index which may replace the TEC 10 daily index. On the Signing Date, the Index Rate on April 26, 2021 is minus zero point zero one percent (-0.01%) per annum. |
Interest Period(s) | means each period from a Payment Date (exclusive) up to the next Payment Date (inclusive). For each Drawdown under the Facility, the first interest period shall start on the Drawdown Date (exclusive) and end on the next successive Payment Date (inclusive). |
Interest Rate | means the interest rate expressed as a percentage and determined in accordance with Clause 4.1 (Interest Rate). |
Xxxxxx | means sixty-five (65) basis points per annum. |
Market Disruption Event | means the occurrence of one of the following events: (i) EURIBOR is not determined by the European Money Markets Institute (EMMI), or any successor administrator, at 11:00am Brussels time, two (2) Business Days before the first day of the relevant Interest Period or on the Rate Setting Date; or (ii) before close of business of the European interbank market, two (2) Business Days prior to the first day of the relevant Interest Period or on the Rate Setting Date, the Borrower receives notification from the Lender that (i) the cost to the Lender of obtaining matching resources in the relevant interbank market would be in excess of EURIBOR for the relevant Interest Period; or (ii) it cannot or will not be able to obtain matching resources on the relevant interbank market in the ordinary course of business to fund the relevant Drawdown for the relevant time period. |
Material Adverse Effect | means a material and adverse effect on: (a) the Project, insofar as it would jeopardise the implementation and operation of the Project in |
accordance with this Agreement and the Project Documents; (b) the business, assets, financial condition of the Borrower or its ability to perform its obligations under this Agreement and the Project Documents; (c) the validity or enforceability of this Agreement and any Project Documents; or (d) any right or remedy of the Lender under this Agreement. | |
National Bank of Serbia or NBS | Means the central bank of the Republic of Serbia. |
Outstanding Principal | means, in respect of any Drawdown, the outstanding principal amount due in respect of such Drawdown, corresponding to the amount of the Drawdown paid by the Lender to the Borrower less the aggregate of instalments of principal repaid by the Borrower to the Lender in respect of such Drawdown. |
Payment Dates | means June 15 and December 15 of each year. |
Payment Systems Disruption Event | means either or both of: (a) a material disruption to the payment or communication systems or to the financial markets which are, in each case, required to operate in order for payments to be made in connection with the Facility (or otherwise in order for the transactions contemplated by this Agreement to be carried out), provided that the disruption is not caused by, and is beyond the control of, any of the Parties; or (b) the occurrence of any other event which results in a disruption (of a technical or system-related nature) to the treasury or payment operations of a Party preventing that, or any other Party: (i) from performing its payment obligations under this Agreement; or (ii) from communicating with the other Parties in accordance with the terms of this Agreement and which (in either case) is not caused by, and is beyond the control of, either Party. |
Prepayment | means the indemnity calculated by applying the |
Compensatory Indemnity | following percentage to the amount of the Facility which is repaid in advance: - if the repayment occurs prior to the 6th anniversary (exclusive) of the Signing Date: two percent (2%); - if the repayment occurs between the 6th anniversary (inclusive) and the 8th anniversary (exclusive) of the Signing Date: one percent (1%); - if the repayment occurs after the 8th anniversary (inclusive) of the Signing Date: zero point five percent (0.5%). |
Project | means the project as described in Schedule 2 (Project Description). |
Designated Account | has the meaning given to that term in Clause 3.4.3. |
Project Authorisations | means the Authorisations necessary in order for (i) the Borrower to implement the Project and execute all Project Documents to which it is a party, and to exercise its rights and perform its obligations under the Project Documents to which it is a party; and (ii) the Project Documents to which the Borrower is a party, to be admissible as evidence before courts in the jurisdiction of the Borrower or before a competent arbitral tribunal. |
Project Documents | means all documents, and in particular agreements, delivered or executed by the Borrower in relation to the implementation of the Project, i.e.: • the Project Operations Manual • RD Agreement as defined in the IBRD Loan Agreement • IZS Agreement as defined in the IBRD Loan Agreement • Serbia Cargo Agreement in the IBRD Loan Agreement • Serbia Voz Agreement as defined in the IBRD Loan Agreement |
Project Operations Manual | has the meaning given to it in the IBRD Loan Agreement |
Public Official | means any holder of legislative, executive, administrative or judicial office whether appointed or |
elected, serving on permanent basis or otherwise, paid or unpaid, regardless of rank, or any other person defined as a public official under the domestic law of the Borrower’s jurisdiction of incorporation, and any other person exercising a public function, including for a public agency or organisation, or providing a public service. | |
Rate Conversion | means the conversion of the floating rate applicable to all or part of the Facility into a fixed rate pursuant to Clause 4.1 (Interest Rate). |
Rate Conversion Request | means a request substantially in the form attached as Schedule 5C (Form of Rate Conversion Request). |
Rate Setting Date | means: I - in relation to any Interest Period for which an Interest Rate is to be determined: (i) the first Wednesday (or, if that date is not a Business Day, the immediately following Business Day) following the date of receipt by the Lender of the Drawdown Request, provided that the Drawdown Request is received by the Lender at least two (2) full Business Days prior to said Wednesday; (ii) the second Wednesday (or, if that date is not a Business Day, the immediately following Business Day) following the date of receipt by the Lender of the Drawdown Request, if the Drawdown Request was not received by the Lender at least two (2) full Business Days prior to the first Wednesday specified in paragraph (i) above. II - in the case of a Rate Conversion: (i) the first Wednesday (or, if that date is not a Business Day, the immediately following Business Day) following the date of receipt by the Lender of the Rate Conversion Request, provided such date is at least two (2) full Business Days prior to the first Wednesday; (ii) the second Wednesday (or, if that date is not a Business Day, the immediately following Business Day) following the date of receipt by the Lender of the Rate Conversion Request, if such date is not at least two (2) full Business Days prior to the first Wednesday. |
Reference Financial Institution | means a financial institution chosen as a suitable reference financial institution by the Lender and which regularly publishes quotations of financial instruments on one of the international financial information networks according to the practices recognised by the banking industry. |
Schedule(s) | means any schedule or schedules to this Agreement. |
Signing Date | means the date of execution of this Agreement by all the Parties. |
TARGET Day | means a day on which the Trans European Automated Real Time Gross Settlement Express Transfer 2 (TARGET2) system, or any successor thereto, is open for payment settlement in Euros. |
Tax(es) | means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with a failure to pay or any delay in the payment of any such amounts). |
Website | means the website of AFD (xxxx://xxx.xxx.xx/) or any other such replacement website. |
Withholding Tax | means any deduction or retention in respect of a Tax on any payment made under or in connection with this Agreement. |
Withdrawal Application | has the meaning given to it under the IBRD Loan Agreement. |
SCHEDULE 1B - CONSTRUCTION
(a) “assets” includes present and future properties, revenues and rights of every description;
(b) any reference to the “Borrower”, a “Party” or a “Lender” includes its successors in title, permitted assigns and permitted transferees;
(c) any reference to a financing document or other document is a reference to this Agreement or to such other document as amended, restated or supplemented and includes, if applicable, any document which replaces it through novation, in accordance with the financing documents;
(d) a “guarantee” includes any cautionnement, aval and any garantie which is independent from the debt to which it relates;
(e) “indebtedness” means any obligation of any person whatsoever (whether incurred as principal or as surety) for the payment or repayment of money, whether present, future, actual or contingent;
(f) a “person” includes any person, company, corporation, partnership, trust, government, state or state agency or any association, or group of two or more of the foregoing (whether or not having separate legal personality);
(g) a “regulation” includes any legislation, regulation, rule, decree, official directive, instruction, request, advice, recommendation, decision or guideline (whether or not having the force of law) of any governmental, intergovernmental or supranational body, supervisory authority, regulatory authority, independent administrative authority, agency, department or any division of any other authority or organisation (including any regulation issued by an industrial or commercial public entity) having an effect on this Agreement or on the rights and obligations of a Party;
(h) a provision of law is a reference to that provision as amended;
(i) unless otherwise provided, a time of day is a reference to Paris time;
(j) The Section, Clause and Schedule headings are for ease of reference only and do not affect the interpretation of this Agreement;
(k) unless otherwise provided, words and expressions used in any other document relating to this Agreement or in any notice given in connection with this Agreement have the same meaning in that document or notice as in this Agreement;
(l) an Event of Default is “continuing” if it has not been remedied or if the Lender has not waived any of its rights relating thereto;
(m) a reference to a Clause or Schedule shall be a reference to a Clause or Schedule of this Agreement; and
(n) words importing the plural shall include the singular and vice-versa.
SCHEDULE 2 - PROJECT DESCRIPTION
The objective of the Project is to enhance the efficiency and safety of existing railway assets and improve governance and institutional capacity of the railway sector.
The Project constitutes a phase of the Multi-Phase Programmatic Approach (MPA) Program and consists of the following parts:
Component 1: Infrastructure Investments and Asset Management
1.1 Reliable and Safe Railway Infrastructure
Provision of support to IZS for the carrying out of a program of track renewal and safety interventions to restore service performance, including, inter alia: (a) the renewal of critically important lines and tunnels in Belgrade city center; (b) the construction of the second stage of the main railway station in Belgrade city center;
(c) the improvement of railway level crossings; (d) the installation of four measurement stations to monitor rolling stock, provide data to predict and prevent future failures, and help to identify maintenance needs proactively; and (e) the supervision of all civil works.
1.2 Technical Documentation
Provision of support for the preparatory technical work to ensure the readiness of the infrastructure investment pipeline for subsequent phases of the MPA Program, including, inter alia, the carrying out of feasibility studies, preliminary designs, detailed designs, spatial plans, environmental management plans, environmental impact assessments and resettlement plans, if applicable.
1.3 Asset Management
(a) adoption of a specialized railway infrastructure asset management system encompassing the functionalities of the LCC analysis, cost-benefit, failure mode effects and criticality analysis and reliability, availability, maintainability and safety as IZS’s standard tool for planning and decision making for financing activities; (b) provision of technical assistance to develop railway infrastructure implementation plans aiming at rationalizing the scheduling of railway improvements to minimize delays and uncertainties for cargo and passenger operations during the carrying out of civil works; and (c) acquisition of machinery to carry out critical repairs of track infrastructure and to refurbish existing passenger trains.
Component 2: Institutional Strengthening and Project Management
2.1 Sectoral Governance
Provision of technical assistance and financing of investments to strengthen the governance of the IZS, RD, Serbia Cargo and Serbia Voz, and improve their efficiency and results, including, inter alia: (a) the provision of support to IZS, Serbia Cargo and Serbia Voz to adopt commercially oriented, independent management and modernize their internal structures and systems through wider adoption of ICT technologies and introduction of business support systems, asset management systems, financial reporting systems, and document management systems; (b) the carrying out of training and provision of technical support to enhance RD’s capacity as a railway market and safety regulator; and (c) the provision of assistance to complete proper contractual arrangements in the railway sector by developing and implementing a Statement of Requirements.
2.2 Human Capital
Provision of technical assistance and carrying out of capacity building activities to establish mechanisms and frameworks for long term development of human resources and knowledge sharing in the railways sector, including, inter alia: (a) the development and implementation of robust human resources systems, strategies, and knowledge curricula with corresponding gender action plans in IZS, Serbia Cargo and Serbia Voz; (b) the design of educational, training and retraining programs in cooperation with vocational schools and universities; and (c) the establishment of a railway PhD program for women, through the financing of scholarships.
2.3. Project Management and Citizen Engagement
Provision of Project management support, including, inter alia: (a) the financing of staff and technical support for the PIU and Project Implementation Teams; (b) the carrying out of Training and knowledge exchange; (c) the carrying out of communication and citizen engagement activities; (d) the carrying out of Project audits; and (e) the acquisition of office equipment and financing of Operating Costs.
Component 3: Railway Modernization Enablers
3.1 Intelligent Railway and Safety Management Systems
Carrying out of structured planning of intelligent railway systems, introduction of safety management systems in the Borrower’s railway sector and development of the regulations for the General Data Protection Law and cybersecurity rule book, including, inter alia: (a) the provision of technical assistance to help IZS, RD, Serbia Cargo and Serbia Voz to implement the European Railway Traffic Management System and develop an implementation plan for the intelligent railway systems; and
(b) the implementation of the safety management systems approach.
3.2 Integrated Territorial Development
Provision of better connectivity to, and synchronization with, other transport modes and improvement of accessibility of the train terminals, through: (a) the financing of a comprehensive study on how railway services could attract more users through better integration with the existing and future urban landscape; (b) the identification and prioritization of short to long term investments to be implemented in the next phases of the MPA Program and the carrying out of pilots to finance integration investments identified in the study mentioned in (a) herein, including the strengthening non-motorized transport through the financing of bicycle parking facilities and safe non-motorized transport access to the station.
3.3 Modal Shift
Provision of support to shift traffic toward the railways as a greener and more affordable transport mode, through: (a) the financing of a study to identify opportunities for increasing railway market share, including, inter alia, the potential for attracting additional traffic, social implications, and impact on environmental footprint; and (b) the carrying out of an analysis of the ownership alternatives for Serbia Cargo and the establishment of a roadmap for implementation of the selected approaches.
SCHEDULE 3 - FINANCING PLAN PART I - FINANCING PLAN
Phase 1 | Amount (EUR million)* |
Component 1. Infrastructure Investments and Asset Management | 87.7 |
Component 2. Institutional Strengthening and Project Management | 8.4 |
Component 3. Railway Modernization Enablers | 5.9 |
TOTAL | 102.0 |
PART II - ELIGIBLE EXPENSES
Category | Amount of the Facility Allocated (expressed in EUR) | Percentage of expenditures to be financed by the Facility out of the Project’s total amount [AFD and IBRD loans combined] |
(1) Goods, works, non- consulting services, consulting services, Training and Operating Costs for the Project | Fifty-one million Euros (EUR 51,000,000) | 50% (inclusive of Taxes other than Value Added Tax and Customs Duties for works, goods and non- consulting services) |
TOTAL AMOUNT | Fifty-one million Euros (EUR 51,000,000) |
For the purpose of this table:
(a) the custom duties and value added tax for the importation and supply of works, goods and non-consulting services, within the Borrower’s territory and for the purpose of the implementation of the Project, shall not be financed out of Facility proceeds. The Borrower confirms that the importation and supply of works, goods and non-consulting services, within the Borrower’s territory and for the purpose of the implementation of the Project, shall be exempted from customs duties and value added tax; and
(b) the term “Project’s total amount” means the total cost of Project activities to be jointly financed by the Facility and by the Co-Financier, which is estimated to be the equivalent of EUR 102,000,000;
(c) as Front-end fees are not Eligible Expenses under the Facility, the 50% “Percentage of expenditures to be financed by the Facility out of the Project’s total amount” will be the applied
financing rate of the Lender under expenditures relevant to Category (1) Eligible Expenses set forth in the table, except for the last Drawdown which amount will be increased by one hundred twenty seven thousand and five hundred Euros (EUR 127,500) [i.e. amount equivalent to the amount of the Front- end fee payable by the Borrower under IBRD Loan Agreement] as compared to the amount of the last drawdown under IBRD Loan Agreement.
Notwithstanding the above provisions, no Drawdown shall be made for payments made prior to the Signing Date, except that drawdowns up to an aggregate amount not to exceed one million Euros (EUR 1,000,000) may be made for payments made prior to this date but on or after January 1, 2021, for Eligible Expenses.
PART III - NON-ELIGIBLE EXPENSES
Front-end fees are not eligible.
SCHEDULE 4 - CONDITIONS PRECEDENT
The following applies to all documents delivered by the Borrower as a condition precedent:
- if the document which is delivered is not an original but a photocopy, the original Certified photocopy shall be delivered to the Lender;
- the final version of a document which draft was previously sent to, and agreed upon by the Lender, shall not materially differ from the agreed draft;
- documents not previously sent and agreed upon, shall be satisfactory to the Lender.
Part I – Conditions Precedent to be satisfied on the Signing Date
(a) Delivery by the Borrower to the Lender of a Certified copy of a conclusion of the Government of the Republic of Serbia approving the report from the negotiations with regard to conclusion of this Agreement, approving the borrowing by the Borrower under this Agreement and expressly authorizing Minister of Finance of the Republic of Serbia to execute this Agreement;
(b) A certificate of the Borrower (signed by authorized signatory) confirming that
(i) borrowing the total Facility commitments would not cause any borrowing, guaranteeing or similar limit binding on the Borrower to be exceeded, and (ii) that the public debt loan under this Agreement is within the limits set by the law governing the budget of the Republic of Serbia;
(c) Delivery to the Lender from MMD law firm (mandated by the Lender) of a draft legal opinion, in form and substance satisfactory to the Lender;
(d) Confirmation from the Co-Financier to the Lender that its Board of Directors has approved the IBRD loan
Part II - Conditions Precedent to the effectiveness of the Agreement
(a) This Agreement has been duly signed by the Lender and the Borrower;
(b) Delivery by the Borrower to the Lender of the following documents:
(i) An original of the legal opinion from the Minister of Justice customary for this type of transaction in form and content satisfactory to the Lender with certified copies (each with an official translation into the language of this Agreement) of all documents to which such legal opinion refers, demonstrating that the Agreement is legally effective and enforceable and, in particular: (i) that the Borrower has met all requirements under its constitutional law and other applicable legal provisions for the valid assumption of all its obligations under this Agreement, (ii) that no official authorisations, consents, licenses, registrations and/or approvals of any governmental authority or agency (including the National Bank of Republic of Serbia) are required or advisable in connection with the execution and performance of this Agreement by the Borrower (including without limitation that all amounts due by the Borrower to the Lender under this Agreement whether as principal or interest, late payment interest, Prepayment Indemnity, incidental costs and expenses or any other sum are freely convertible and transferable), (iii) that choice of French law to govern this Agreement and the submission to arbitration are valid and binding, as well as that arbitration awards against the Borrower will be
recognized and enforceable in the Republic of Serbia, and (iv) that neither the Borrower nor any of its property has any right of immunity from arbitration, suit, execution or other legal process;
(ii) Evidence of the enactment by the National Assembly of the Republic of Serbia of the law ratifying this Agreement (together with evidence of such law being promulgated by the President of the Republic of Serbia) and published in the Official Gazette of the Republic of Serbia;
(iii) Confirmation of the Ministry of Finance of the Republic of Serbia that this Agreement has been duly evidenced therewith;
(c) Signature of the IBRD Loan Agreement
Part III - Conditions Precedent to the First Drawdown
(i) This Agreement has become effective upon the satisfaction of the conditions stipulated in the PART II of this Schedule 4 of the Agreement;
(ii) Confirmation that the IBRD Loan Agreement has become effective and that the conditions precedent to the first disbursement in respect of such loan have been fulfilled
(iii) a copy of the government conclusion appointing and authorising persons to sign the Drawdown Requests and a certificate of specimen of the signature of each person listed in this conclusion;
(iv) The Co-Financing Agreement between the Lender and the Co- Financier has been executed;
(v) Delivery to the Lender from MMD law firm (mandated by the Lender) of a duly executed legal opinion, in form and substance satisfactory to the Lender;
(vi) Payment by the Borrower to the Lender of all fees and expenses due and payable under this Agreement.
(vii) In Case of Advance, a certificate of the National Bank of Serbia certifying that the Designated Account has been opened in the name of the Project and providing account details for such Designated Account.
Part IV - Conditions Precedent for All Drawdowns including the First Drawdown
Reception by the Lender from the Co-Financier of the Disbursement Notice related to the Drawdown requested
SCHEDULE 5A - FORM OF DRAWDOWN REQUEST
[on the Borrower’s letterhead]
To: AGENCE FRANÇAISE DE DÉVELOPPEMENT
On: [date]
Borrower’s Name – Credit Facility Agreement n° [●] dated [●] Drawdown Request n°[●]
Dear Sirs,
1. We refer to the Credit Facility Agreement n° [●] entered into between the Borrower and the Lender dated [●] (the “Agreement”). Capitalised words and expressions used but not defined herein have the meanings given to them in the Agreement.
2. This letter is a Drawdown Request.
3. We irrevocably request that the Lender makes a Drawdown available on the following terms:
Amount: EUR [●] or, if less, the Available Credit. Interest Rate: [fixed / floating]
Proposed Drawdown Date: [optional]
4. The Interest Rate will be determined in accordance with the provisions of Clause 4 (Interest) and Clause 5 (Change to the calculation of Interest) of the Agreement. The Interest Rate applicable to the requested Drawdown will be provided to us in writing and we accept this Interest Rate [(subject to the paragraph below, if applicable)], including when the Interest Rate is determined by reference to a Replacement Benchmark plus any Adjustment Margin as notified by the Lender following the occurrence of a Screen Rate Replacement Event.
5. We confirm that each condition specified in Clause 2.4 (Conditions precedent) is satisfied on the date of this Drawdown Request and that no Event of Default is continuing or is likely to occur. We agree to notify the Lender immediately if any of the conditions referred to above is not satisfied on or before the Drawdown Date.
6. The proceeds of this Drawdown should be credited to the following bank account:
(a) Name [of the Borrower]: [●]
(b) Address [of the Borrower]: [●]
(c) IBAN Account Number: [●]
(d) SWIFT Number: [●]
(e) Bank and bank’s address [of the Borrower]:
[●]
(f) [if currency other than Euro] correspondent bank and account number of the Borrower’s bank:
[●]
7. This Drawdown Request is irrevocable.
8. We have attached to this Drawdown Request all relevant supporting documents specified in Clause 2.4 (Conditions precedent) of the Agreement:
[List of supporting documents]
Yours sincerely,
.........................................................
Authorised signatory of Borrower
SCHEDULE 5B - FORM OF CONFIRMATION OF DRAWDOWN AND RATE
[on Agence Française de Développement letterhead]
To: [the Borrower] Date: [●]
Ref: Drawdown Request n° [●] dated [●]
Borrower’s Name – Credit Facility Agreement n°[●] dated [●] Drawdown Confirmation n°[●]
Dear Sirs,
1. We refer to the Credit Facility Agreement n°[●] entered into between the Borrower and the Lender dated [●] (the “Agreement”). Capitalised words and expressions used but not defined herein have the meanings given to them in the Agreement.
2. By a Drawdown Request Letter dated [●], the Borrower has requested that the Lender makes available a Drawdown in the amount of EUR [●], pursuant to the terms and conditions of the Agreement.
3. The Drawdown which has been made available according to your Drawdown Request is as follows:
• Amount: [●amount in words] ([●])
• Applicable interest rate: [●percentage in words] ([●]%) per annum [equal to the aggregate of the six-month EURIBOR (equal to [●]% per annum) 1 and the Margin] 2
• Drawdown Date: [●] For fixed-Interest Rate loans only For information purposes only:
• Rate Setting Date: [●]
• Fixed Reference Rate: [●percentage in words] ([●]%) per annum
• Effective global rate (per annum): [●percentage in words] ([●]%)
• Index Rate: [●percentage in words] ([●]%)
1 If the six-month EURIBOR is not available on the date of confirmation of drawdown due to the occurrence of a Screen Rate Replacement Event, the Replacement Benchmark, the precise terms and conditions of replacement of such Screen Rate with a Replacement Benchmark and the related total effective rates will be communicated to the Borrower in a separate letter.
2 To be deleted in case of fixed Interest Rate.
• Index Rate on the Rate Setting Date: [●].
[It being specified that the above Interest Rate may vary in accordance with the provisions of clauses 4.1.1(i) (Floating Interest Rate) and 5.2 (Replacement of a Screen Rate) of the Agreement.]3
Yours sincerely,
.........................................................
Authorised signatory of Agence Française de Développement
3 Will be deleted in case of fixed Interest Rate.
SCHEDULE 5C - FORM OF RATE CONVERSION REQUEST
[on the Borrower’s letterhead]
To: AGENCE FRANÇAISE DE DÉVELOPPEMENT
On: [date]
Borrower’s Name – Credit Facility Agreement n°[●] dated [●] Rate Conversion Request n°[●]
Dear Sirs,
1. We refer to the Credit Facility Agreement n°[●] entered into between the Borrower and the Lender dated [●] (the “Agreement”). Capitalised words and expressions used but not defined herein have the meanings given to them in the Agreement.
2. Pursuant to Clause 4.1.3 (i) (Conversion from a floating Interest Rate to a fixed Interest Rate) of the Agreement, we hereby request that you convert the floating Interest Rate of the following Drawdowns:
• [list the relevant Drawdowns],
into a fixed Interest Rate in accordance with the terms of the Agreement.
3. This rate conversion request will be deemed null and void if the applicable fixed Interest Rate exceeds [●] [●%].
Yours sincerely,
.........................................................
Authorised signatory of Borrower
SCHEDULE 5D - FORM OF RATE CONVERSION CONFIRMATION
[on Agence Française de Développement letterhead]
To: [the Borrower] Date: [●]
Re: Rate Conversion Request n° [●] dated [●]
Borrower’s Name – Credit Facility Agreement n°[●] dated [●] Rate Conversion Confirmation n°[●]
Dear Sirs,
SUBJECT: Conversion from a floating Interest Rate to a fixed Interest Rate
1. We refer to the Credit Facility Agreement n°[●] entered into between the Borrower and the Lender dated [●] (the “Agreement”). Capitalised words and expressions used but not defined herein have the meanings given to them in the Agreement.
2. We refer also to your Rate Conversion Request dated [●]. We confirm that the fixed Interest Rate applicable to the Drawdown(s) referred to in your Rate Conversion Request delivered in accordance with Clause 4.1.3 (i) (Conversion from a floating Interest Rate to a fixed Interest Rate) of the Agreement is:
• [●]% per annum.
3. This fixed Interest Rate, calculated in accordance with Clause 4.1.1 (Selection of Interest Rate) will apply to the Drawdown(s) referred in your Rate Conversion Request from [⚫] (effective date).
4. Further, we notify you that the effective global rate per annum of the Facility is [⚫]%.;Yours sincerely,
.........................................................
Authorised representative of Agence Française de Développement
SCHEDULE 6 - INFORMATION THAT THE LENDER IS AUTHORIZED EXPRESSLY TO DISCLOSE ON THE LENDER’S WEBSITE (IN PARTICULAR ON ITS OPEN DATA PLATFORM)
1. Information relating to the Project
- Number and name in AFD’s book;
- Description;
- Operating sector;
- Place of implementation;
- Expected project starting date;
- Expected project completion date; and
- Status of implementation updated on a semi-annual basis.
2. Information relating to the financing of the Project
- Kind of financing (xxxx, xxxxx, co-financing, delegated funds);
- Principal amount of the Facility;
- Total amount drown on annual basis;
- Drawdown amounts planning on a three year basis; and
- Amount of the Facility which has been drawn down (updated as the implementation of the Project goes).
3. Other information
- Transaction information notice attached to this Schedule; and
- The summary of the Project evaluation, the content of which is defined in Article 11.12 “Project Evaluation ".
SCHEDULE 7 – AFD’S COVENANT OF INTEGRITY
Invitation of Bids/Proposals/Contract No. To:
We declare and undertake that neither we nor anyone, including any member of our joint venture or any of our suppliers, contractors, sub-contractors, consultants, sub- consultants, where these exist, acting on our behalf with due authority or with our knowledge or consent, or facilitated by us, has engaged, or will engage, in any activity prohibited under AFD’s General Policy on Combatting Corruption, Fraud, Anti-Competitive Practices, Money Laundering and Terrorist Financing[1] (“AFD’s General Policy”) in connection with the present procurement process and (in case of award) the execution of the above-referenced contract (“Contract”), including any amendments thereto.
We acknowledge that AFD’s participation in the financing of the Contract is subject to AFD’s General Policy. As such, we acknowledge that AFD will not be able to participate in the financing of the Contract if we, including any member of our joint venture, or any of our suppliers, contractors, subcontractors, consultants or sub- consultants are ineligible as a result of a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations or are on any of the following lists (AFD’s Sanction Lists):
EU financial sanctions list xxxxx://xxxx.xxxxxx.xx/xxxxxxxxxxxx/xxxxxxxxxxxx- homepage/8442/consolidated-list-sanctions_fr
French financial sanctions list xxxx://xxx.xxxxxx.xxxxxxxx.xxxx.xx/0000_Xxxxxxxxxx- National-de-Gel-Terroriste
EU commercial sanctions list xxxxx://xxxx.xxxxxx.xx/xxxxx/xxxx/xxxxx/xxxxxxxxxxx_xxxxxxxx- 2017-08-04.pdf
We shall permit, and shall cause our sub-contractors, sub-consultants, agents (whether declared or not), personnel, consultants, service providers or suppliers, to permit the AFD to inspect all accounts, records, and other documents relating to the procurement process and/or Contract execution (in the case of award), and to have them audited by auditors appointed by the AFD.
We agree to preserve all accounts, records, and other documents (whether in hard copy or electronic format) related to the procurement and execution of the Contract.
Name: In the capacity of: Duly empowered to sign in the name and on behalf of [2]:_
Signature Dated:
SCHEDULE 8 – COMMUNICATION NOTE OF THE PROJECT
1. CONTEXT AND STRATEGIC CHALLENGES OF THE PROJECT
The Republic of Serbia is located on the major transport corridors of Europe and lies on a key section of the Pan-European Corridor X connecting Thessaloniki (Greece) to Salzburg (Austria). The potential of rail transport (freight and passenger) is significant but requires enhancement of the efficiency of the railway network (commercial speed, reliability, safety).
The Serbian government has carried out ambitious reforms, with a double aim: to support the development of the railway sector, and to adopt the European Union's acquis. In 2015, the single historical railway company was separated into three state- owned railway companies: an infrastructure manager (IZS), a passenger operator (SV) and a freight operator (SC) under the supervision of the Ministry of Construction, Transport and Infrastructure (MCTI). The historical debt was restructured and a regulator was created. During the 2016-2020 period, with the support of the World Bank, rail reform continued, with the objectives of improving the sector's efficiency and reducing public subsidies. As a result, the Serbian government adopted a national program for the development of railway infrastructure (2017- 2021), with an associated investment plan of 3.8 billion Euros.
The reform agenda is currently structured around five major goals: (i) strengthening the regulation of the sector; (ii) improving infrastructure; (iii) optimizing the efficiency of railway companies; (iv) improving reliability and safety; and (v) increasing the modal share of railways.
2. OBJECTIVES AND CONTENT OF THE PROJECT
The purpose of the Railway Sector Modernization Program (hereinafter “the program”) is to support the modernization of the Serbian railway sector. It is divided into 3 successive phases, from 2021 to 2029. In operational terms, the main objectives are (i) to improve intermodality for freight and passengers; (ii) to improve the financial worthiness of operators; (iii) to improve the efficiency of capital investment; (iv) to improve the maintenance of rail infrastructure; (v) to increase the number of private actors and investments; and (vi) to improve the gender balance in companies.
The Serbian government and the World Bank have solicited the French Development Agency (AFD) to co-finance Phase 1 of the program, with the perspective to pursue this partnership under Phases 2 and 3. Phase 1, which is the subject of this financing, comprises three components:
- Component n°1 (84.5 MEUR): renovation of railway infrastructure, with priority given to urban mobility (Belgrade station, north-eastern suburban branch to Pančevo), safety (level crossings) and improved asset management;
- Component n°2 (8.7 MEUR): institutional strengthening and project management;
- Component No. 3 (EUR 8.8 million): facilitation actions for rail modernization, including an "intelligent transport" system (introduction of digital technology).
Component 1 prioritizes investments to improve the suburban service on the northeast branch of Belgrade’s railway network as well as the connectivity with Belgrade Centre railway station (“Prokop”). In doing so, it is fully in line with the urban mobility strategy of Serbia’s capital city.
3. STAKEHOLDERS AND IMPLEMENTATION FRAMEWORK
The Borrower is the Republic of Serbia, represented by its Ministry of Finance (MoF). The MCTI will be the project owner for all the program’s components, through a Project Management Unit (PMU) technically supported by dedicated units stemming from each state-owned railway company. This PMU will manage program monitoring and reporting to the World Bank and AFD. The overall governance of the program including its policy aspects will be ensured by a high-level steering committee chaired by the MCTI. Fiduciary management will be carried out by the pre-existing Central Fiduciary Unit (CFU) embedded with the MoF.
AFD will delegate appraisal and supervision tasks to the World Bank, with pari passu drawdowns, according to the AFD-World Bank co-financing framework agreement.
4. COST AND FINANCING
AFD co-financing of Phase 1 amounts to 51 million Euros, i.e. 50% of the Phase 1 total amount.
5. MAIN EXPECTED IMPACTS
The aim of the program is to integrate the Serbian railway network into the Single European Railway Area, in order to strengthen the country's trade opportunities and to xxxxxx economic development, while at the same time to support Serbia in achieving its greenhouse gases emission reduction objectives. In order to do so, and to increase the network’s efficiency, it is necessary to act qualitatively and quantitatively on the freight and passenger rail offer. This should result in a decrease in the contribution of the state budget to the sector. Special attention to the promotion of gender equality will provide new economic opportunities for women and improve their access to mobility. The other major effect expected is a significant decrease in the railway accident rate.
The prioritization of investments under Phase 1 on suburban service issues signals a government priority on reinforcing daily train service around Belgrade: one of the expected effects is an improvement in sustainable urban mobility and access to mobility and urban amenities for the most vulnerable segments of the population. The main positive socio-economic impact and climate change co-benefits are associated with the improvement of this service. The program is classified as a 100% climate co- benefits project.
AFD UGOVOR BR. CRS 1015 02 D
UGOVOR O KREDITU
potpisan xxxx 10. maja 2021. godine između
FRANCUSKE AGENCIJE ZA RAZVOJ
kao Zajmodavca i
REPUBLIKE SRBIJE
kao Zajmoprimca
SADRŽAJ
1. DEFINICIJE I TUMAČENJA 7
1.1 Definicije 7
1.2 Tumačenja 7
2. KREDIT, SVRHA I USLOVI KORIŠĆENJA 7
2.1 Kredit 7
2.2 Svrha 7
2.3 Monitoring 7
2.4 Preduslovi 7
3. POVLAČENJE SREDSTAVA 8
3.1 Iznosi povlačenja 8
3.2 Zahtev za povlačenje sredstava 8
3.3 Završetak plaćanja 9
3.4 Metode isplate 9
4. KAMATA 13
4.1 Kamatna xxxxx 13
4.2 Obračun i plaćanje xxxxxx 14
4.3 Kašnjenje u plaćanju i zatezna kamata 15
4.4 Komunikacija kamatnih xxxxx 15
4.5 Efektivna globalna xxxxx (Taux Effectif Global) 15
5. PROMENA OBRAČUNA XXXXXX 16
5.1 Poremećaj tržišta 16
5.2 Zamena prikaza referentne stope 16
6. NAKNADE 18
6.1 Naknada za angažovanje sredstava 18
6.2 Pristupna naknada 18
7. OTPLATA 19
8. PREVREMENA OTPLATA I OTKAZIVANJE 19
8.1 Dobrovoljna prevremena otplata 19
8.2 Obavezna prevremena otplata 19
8.3 Otkazivanje xx xxxxxx Zajmoprimca 20
8.4 Otkazivanje xx xxxxxx Zajmodavca 20
8.5 Ograničenja 21
9. OBAVEZE DODATNIH PLAĆANJA 21
9.1 Troškovi i rashodi 21
9.2 Naknada za otkazivanje 21
9.3 Naknada za prevremenu otplatu 22
9.4 Porezi i dažbine 22
9.5 Dodatni troškovi 22
9.6 Naknada za valutu 23
9.7 Rokovi 23
10. IZJAVE I GARANCIJE 23
10.1 Nadležnosti i odobrenja 24
10.2 Validnost i prihvatljivost dokaza 24
10.3 Obaveze 24
10.4 Nema podnošenja niti taksenih marki 24
10.5 Transfer sredstava 24
10.6 Nesukobljavanje sa drugim obavezama 25
10.7 Merodavno pravo i izvršenje 25
10.8 Nema neizvršenja obaveza 25
10.9 Nema obmanjujućih informacija 25
10.10 Projektna dokumenta 25
10.11 Projektna odobrenja 26
10.12 Nabavka 26
10.13 Rangiranje po principu Pari passu 26
10.14 Poreklo sredstava, koruptivne radnje, prevare i nelojalna konkurencija 26
10.15 Nema materijalnih negativnih efekata 26
11. OBAVEZE 27
11.1 Poštovanje zakona, propisa i obaveza 27
11.2 Odobrenja 27
11.3 Projektna dokumenta 28
11.4 Implementacija i održavanje Projekta 28
11.5 Nabavka 28
11.6 Odgovornost u oblasti životne sredine i socijalnih pitanja 29
11.7 Dodatno finansirnje 30
11.8 Rangiranje po principu pari passu 30
11.9 Ustupanje 30
11.10 Namenski račun 30
11.11 Kontrole 30
11.12 Evaluacija projekta 30
11.13 Implementacija projekta 31
11.14 Poreklo sredstava, bez koruptivnih radnji, prevara i nelokalne konkurencije 31
12. OBAVEZE INFORMISANJA 31
12.1 Finansijske inforamcije 31
12.2 Izveštaj o napretku 32
12.3 Sufinansiranje 32
12.4 Informacije - razno 32
13. SLUČAJ NEIZVRŠENJA OBAVEZA 32
13.1 Slučaj neizvršenja obaveza 32
13.2 Ubrzanje 35
13.3 Obaveštenje o slučaju neizvršenja obaveza 35
14. ADMINISTRACIJA KREDITA 36
14.1 Plaćanja 36
14.2 Poravnanje 36
14.3 Radni dani 36
14.4 Valuta plaćanja 36
14.5 Konvencija o brojanju xxxx 36
14.6 Mesto plaćanja 37
14.7 Prekid rada platnog sistema 37
15. RAZNO 38
15.1 Jezik 38
15.2 Potvrde i odluke 38
15.3 Parcijalna invalidnost 38
15.4 Bez odricanja 38
15.5 Ustupanje 38
15.6 Pravno dejstvo 39
15.7 Celokupan ugovor 39
15.8 Izmene i dopune 39
15.9 Poverljivost – Obelodanjivanje informacija 39
15.10 Ograničenja 39
15.11 Promenjene okolnosti 39
16. OBAVEŠTENJA 40
16.1 U pisanoj formi i adrese 40
16.2 Isporuka 40
16.3 Elektronska komunikacija 41
17. MERODAVNO PRAVO, IZVRŠENJE I ODABIR PREBIVALIŠTA 41
17.1 Merodavno pravo 41
17.2 Arbitraža 41
17.3 Uručenje 42
18. TRAJANJE 42
PRILOG 1A - DEFINICIJE 44
PRILOG 1B - TUMAČENJE 54
PRILOG 2 – OPIS PROJEKTA 55
PRILOG 3 – PLAN FINANSIRANJA 57
PRILOG 4 - PREDUSLOVI 59
PRILOG 5A – OBRAZAC ZAHTEVA ZA PLAĆANJE 61
PRILOG 5B – OBRAZAC POTVRDE POVLAČENJA SREDSTAVA 63
PRILOG 5C – OBRAZAC ZAHTEVA ZA KONVERZIJU STOPE 65
PRILOG 5D – OBRAZAC POTVRDE KONVERZIJE STOPE 66
PRILOG 6 – INFORMACIJE KOJE JE ZAJMODAVAC IZRIČITO OVLAŠĆEN DA OBELODANI NA VEB STRANICI ZAJMODAVCA (A POSEBNO NA PLATFORMI OTVORENIH PODATAKA) 67
PRILOG 7 – IZJAVA O INTEGRITETU AFD-A 68
PRILOG 8 – NAPOMENA U VEZI SA KOMUNIKACIJOM NA PROJEKTU 70
UGOVOR O KREDITU
IZMEĐU:
(1) Republike Srbije, koju predstavlja Vlada Republike Srbije, preko ministra finansija, gospodina Xxxxxx Xxxxx, koji je propisno ovlašćen da potpiše ovaj Ugovor
(“Republika Srbija” ili “Zajmoprimac”);
I
(2) FRANCUSKE AGENCIJE ZA RAZVOJ, francuske javne institucije koja radi u skladu sa zakonom Francuske, sa sedištem na adresi 0, Xxx Xxxxxx Xxxxxxx, 00000 Xxxxx Xxxxx 00, Francuska, registrovane u Registru trgovine i preduzeća pod brojem 000 000 000, koju zastupa gospođa Xxxxxx Xxxxxxx, u svojstvu regionalnog direktora za Evroaziju, xxxx xx propisno ovlašćena za potpisivanje ovog Ugovora,
(“AFD” ili “Zajmodavac”);
(u daljem tekstu “Strane” i pojedinačno “Strana”);
PRI ČEMU:
(A) Zajmoprimac namerava da implementira Fazu 1 Projekta Modernizacije železničkog sektora u Srbiji (“Projekat”), kao što je dalje opisano u Prilogu 2 (Opis Projekta) u ukupnom iznosu do stotinu i dva miliona evra (EUR 102.000.000).
(B) Zajmoprimac je zatražio da Zajmodavac stavi na raspolaganje kredit za potrebe finansiranja dela Projekta. .
(C) IBRD, kao sufinansijer namerava da obezbedi finansiranje Projekta do iznosa do pedeset jedan milion evra (EUR 51.000.000).
(D) U skladu sa rezolucijom br. C20210013 Komiteta za strane države (Comité des Etats Etrangers) AFD-a od 27. januara 2021. godine, Zajmodavac se saglasio da će Zajmoprimcu staviti na raspolaganje kreditna sredstva u skladu sa uslovima i odredbama ovog Ugovora.
STRANE SU XX XXXXX DOGOVORILE SLEDEĆE:
1. DEFINICIJE I TUMAČENJA
1.1 Definicije
Reči i izrazi napisani velikim slovom koji se koriste u ovom Ugovoru (uključujući one koji se pojavljuju u prethodnim uvodnim napomenama i Prilozima) imaće značenje dato im u Prilogu 1A (Definicije), osim ako ovim Ugovorom nije drugačije predviđeno.
1.2 Tumačenja
Reči i izrazi korišćeni u ovom Ugovoru tumačiće se u skladu sa odredbama Priloga 1B (Tumačenje), osim ako se ne odluči drugačije.
2. KREDIT, SVRHA I USLOVI KORIŠĆENJA
2.1 Kredit
U skladu sa uslovima ovog Ugovora, Zajmodavac će staviti na raspolaganje Zajmoprimcu Kreditna sredstva u maksimalnom ukupnom iznosu do pedeset jedan milion evra (EUR 51.000.000).
2.2 Svrha
Zajmoprimac će iskoristiti sve iznose koje je pozajmio u okviru ovog Kredita isključivo za potrebe finansiranja i/ili refinansiranja Dozvoljenih troškova, u skladu sa opisom Projekta datim u Prilogu 2 (Opis Projekta) i Planom finansiranja datim u Prilogu 3 (Plan Finansiranja).
2.3 Monitoring
Zajmodavac neće snositi odgovornost za korišćenje bilo kog pozajmljenog iznosa koji nije u skladu sa odredbama ovog Ugovora.
2.4 Preduslovi
(a) Najkasnije do Datuma potpisivanja, Zajmoprimac će Zajmodavcu obezbediti sva dokumenta navedena u Delu I Priloga 4 (Preduslovi).
(b) Zahtev za povlačenje sredstava ne može se dostaviti Zajmodavcu osim:
(i) u slučaju prvog povlačenja, ako je Zajmodavac primio sva dokumenta navedena u Delovima II i III i/ili IV Priloga 4 (Preduslovi) zavisno od slučaja, i obavestio Zajmoprimca da su ta dokumenta u formi i sadržaju koji zadovoljavaju Zajmoprimca;
(ii) u slučaju svakog sledećeg povlačenja, ako je Zajmodavac primio sva dokumenta navedena u Delovima III i/ili IV Priloga 4 (Preduslovi) zavisno od slučaja, i obavestio Zajmoprimca da su ta dokumenta u formi i sadržaju koji zadovoljavaju Zajmoprimca; i
(iii) na datum Zahteva za povlačenje sredstava i na predloženi Datum povlačenja sredstava za relevantno povlačenje, nije došlo do Prekida rada platnog sistema i da su ispunjeni uslovi definisani u ovom Ugovoru, uključujući i sledeće:
1) ne nastavlja se ni jedan Događaj neizvršenja obaveza niti bi mogao da proistekne iz predloženog Povlačenja;
2) ni jedan Sufinansijer nije suspendovao svoja plaćanja vezana za Projekat;
3) Zahtev za povlačenje sredstava je sačinjen u skladu sa odredbama člana 3.2 (Zahtev za povlačenje sredstava);
4) Svaka izjava xxxx xx Zajmoprimac dao u skladu sa članom 10 (Izjave i garancije) je tačna.
3. POVLAČENJE SREDSTAVA
3.1 Iznosi povlačenja
Kreditna sredstva xxxx xx raspolaganju Zajmoprimcu tokom Perioda raspoloživosti, u nekoliko povlačenja pod uslovom da ne bude više od sedamdeset (70) Povlačenja sredstava.
3.2 Zahtev za povlačenje sredstava
(a) Pod uslovom da su ispunjeni uslovi definisani u članu 2.4(b)(ii) (Preduslovi), Zajmoprimac može povući Kreditna sredstva slanjem uredno popunjenog Zahteva za povlačenje sredstava Zajmodavcu kao što se u daljem tekstu navodi:
(i) elektronska kopija Zahteva za povlačenje, xxxx xx uredno popunjena i potpisana, zajedno sa svim pratećim dokumentima potrebnim za ispunjenje relevantnih preduslova, prvo će se podneti Sufinansijeru, istovremeno sa podnošenjem odgovarajućeg Zahteva za povlačenje sredstava u okviru IBRD kredita u skladu sa odredbama i uslovima Sporazuma o zajmu IBRD-a; i
(ii) štampani primerak uredno popunjenog i potpisanog Zahteva za povlačenje sredstava dostavlja se poštom xx xxxxxx Zajmoprimca na kancelariju direktora AFD-a, na xxxxxx xxxxxxxx x xxxxx 00.0 (U pisanoj formi i adrese).
Isplate će se vršiti u skladu sa uputstvima datim u Pismu o povlačenju sredstava i finansijskim informacijama (DFIL), ažuriranim po potrebi, izdatim xx xxxxxx Sufinansijera.
Osim ukoliko Xxxxxxxxxx ne odobri izuzetke, svaki Zahtev za povlačenje sredstava xxxx pripremljen istovremeno sa Zahtevom za povlačenje sredstava prema Sporazumu o zajmu IBRD-a na ime relevantnog iznosa kako bi se ispunio princip finansiranja pari passu naveden u Aneksu 3 (Plan finansiranja).
(b) Svaki zahtev za povlačenje sredstava je neopoziv i smatraće se da je valjano popunjen ukoliko:
(i) zahtev za povlačenje sredstava je u suštini u formi definisanoj u Prilogu 5A (Obrazac zahteva za plaćanje);
(ii) Zajmodavac će Zahtev za povlačenje sredstava primiti najkasnije petnaest (15) Radnih xxxx pre Roka za povlačenje;
(iii) predloženi Datum povlačenja sredstava je radni xxx koji pada tokom Perioda raspoloživosti;
(iv) iznos Povlačenja sredstava u skladu je sa članom 3.1 (Iznosi povlačenja); i
(v) sva dokumenta navedena u Delu IV i/ili IV Priloga 4 (Preduslovi), zavisno od slučaja, za potrebe Povlačenja sredstava priloženi su uz Zahtev za povlačenje sredstava, u
skladu xx xxxx pomenutim Prilogom i zahtevima navedenim u članu 3.4 (Metode isplate), i u formi i sadržine zadovoljavajuće za Zajmodavca.
Svi dokumentarni dokazi, kao što su računi ili plaćene fakture, moraju sadržati delovodni broj i datum odgovarajućeg naloga za plaćanje ukoliko je primenljivo i zahtevano u skladu sa procedurama Sufinansijera.
Zajmoprimac se obavezuje da će držati u posedu originale dokumentovanih dokaza, da će takve dokaze staviti na raspolaganje Zajmodavcu u bilo kom trenutku i da će Xxxxxxxxxx dostaviti overene kopije ili duplikate takvih dokaza koje Zajmodavac može zahtevati.
3.3 Završetak plaćanja
Tokom realizacije Sporazuma o sufinansiranju, nakon što je Sufinansijer primio Zahtev za povlačenje sredstava i relevantnu prateću dokumentaciju opisanu u članu 3.2 (a) (i) iznad, Sufinansijer, u ime i za račun Zajmodavca će:
(i) pregledati svu dostavljenu prateću dokumentaciju u skladu sa važećim internim pravilima i procedurama; i
(ii) proveriti da xx xx iznos tražen u Zahtevu za povlačenje u skladu sa zahtevima za sufinansiranje prema Sporazumu o sufinansiranju.
Ako xx xxxx navedeni rezultati procene i verifikacije zadovoljavajući za Sufinansijera, on će pismenim putem obavestiti Zajmodavca o takvom rezultatu preko obaveštenja o isplati (“Obaveštenje o isplati”).
U skladu sa članom 14.7 (Prekid rada platnog sistema), ako su ispunjeni svi uslovi navedeni u članu 2.4(b) (Preduslovi) ovog Ugovora, Zajmodavac će staviti Zajmoprimcu na raspolaganje tražena sredstva najkasnije do Datuma povlačenja sredstava.
Zajmodavac će Zajmoprimcu obezbediti pismo o povlačenju sredstava suštinski u formi definisanoj u Prilogu 5B (Obrazac Potvrde Povlačenja Sredstava i Stope).
3.4 Metode isplate
Sredstava će biti stavljena na raspolaganje u skladu sa jednim ili više sledećih uslova:
U skladu sa uslovima datim u Delu III i/ili IV Priloga 4 (Preduslovi), zavisno od slučaja, sredstva mogu biti uplaćena direktno Zajmoprimcu u skladu sa odredbama i uslovima Ugovora, u cilju refundiranja Dozvoljenih troškova plaćenih xx xxxxxx Zajmoprimca, pod uslovom da su dokazi o plaćanju Dozvoljenih troškova Zajmoprimca navedeni u Zahtevu o povlačenju sredstava, dostavljeni Zajmodavcu preko Sufinansijera u formi i sadržine zadovoljavajuće za Sufinansijera.
Zajmodavac može od Zajmoprimca, direktno ili preko Sufinansijera, tražiti da dostavi druge dokaze kojima se potvrđuje da su radovi ili usluge koji se odnose na relevantne Dozvoljene rashode realizovani.
(a) U skladu sa uslovima utvrđenim u Delu III i/ili IV Priloga 4 (Preduslovi), u zavisnosti od slučaja, Zajmoprimac može zahtevati u Zahtevu za povlačenje sredstava da se povučena sredstava stave na raspolaganje direktno bilo kom Izvođaču kome xx xxxxx duguje po osnovu bilo kog ugovora o nabavci, uslugama ili drugim radovima sklopljenog u cilju realizacije svih ili dela Dozvoljenih projektnih rashoda.
(b) Zajmoprimac ovim ovlašćuje Zajmodavca da izvrši direktna plaćanja u skladu xx xxxx navedenim stavom (a) iz Povučenih sredstava. Zajmodavac neće biti u obavezi, u bilo kom trenutku, da verifikuje da li postoje ograničenja bilo koje prirode vezane za zahtev za Povlačenje sredstava. Zajmodavac zadržava pravo da odbije takav zahtev ako sazna za bilo koje takvo ograničenje.
(c) Zajmodavac neće biti odgovoran ni na xxxx xxxxx za povlačenje sredstava i Zajmoprimac se odriče bilo kakve radnje koju može preduzeti protiv Zajmodavca u xxx pogledu. Zajmoprimac će nadoknaditi Zajmodavcu sve troškove, gubitke ili obaveze koje Zajmodavac pretrpi u vezi sa tužbama trećih strana protiv Zajmodavaca u vezi sa takvim Povlačenjem.
(d) Zajmoprimac je saglasan da će se bilo koji iznos koji uplati Zajmodavac u skladu sa ovim članom 3.4.2 smatrati Povlačenjem sredstava i da će u potpunosti biti otplaćeni Zajmodavcu svi iznosi plaćeni u okviru Kredita u skladu sa članom 3.4.2 (Direktna plaćanja), zajedno sa, i uključujući, ali ne ograničavajući se na sve xxxxxx obračunate na te iznose od relevantnih datuma povlačenja.
3.4.3 Avansno povlačenje sredstava
Zajmodavac može pristupiti Kreditu u formi avansa (“Avansa”) koji se uplaćuju na Namenski račun.
(a) Otvaranje Namenskog računa
Zajmoprimac će otvoriti i održavati račun za potrebe Projekta (“Namenski račun”), kod Narodne banke Srbije (“NBS”), samo u svrhu (i) prijema Povučenih sredstava od Zajmodavca u formi Avansa; i (ii) plaćanja Dozvoljenih rashoda.
Zajmoprimac se ovim obavezuje i obezbeđuje da se odriče bilo kojeg prava na poravnanje bilo koje strane u vezi sa Namenskim računom i bilo kojim drugim računom otvorenim na ime Zajmoprimca kod NBS ili za bilo koji drugi dug Zajmoprimca.
Pod uslovom da su ispunjeni uslovi navedeni u članu 2.4 (Preduslovi), Zajmodavac će na Namenski račun uplatiti inicijalni Xxxxx u iznosu naznačenom u odgovarajućem Obaveštenju o povlačenju sredstava Avansa navedenog u odgovarajućem Obaveštenju o isplati xxxx xx Sufinansijer dostavio Zajmodavcu.
Dodatni avansi će se izvršiti na zahtev Zajmoprimaca u skladu sa istim postupkom koji se zahteva prema Sporazumu o zajmu IBRD-a i pod uslovima navedenim u članu 2.4 (Preduslovi).
Osim ako se Zajmodavac ne dogovori drugačije, konačni xxxxx xx se isplatiti u skladu sa istim uslovima kao i drugi avansi i, ako je primenjivo, uzimaće u obzir svaku promenu u Planu finansiranja Projekta o kojem su xx Xxxxxx dogovorile.
(e) Pravdanje korišćenja Avansa
Zajmoprimac se složio da Zajmodavcu dostavi:
(i) najkasnije do Roka za korišćenje sredstava, potvrdu potpisanu xx xxxxxx ovlašćenog potpisnika Zajmoprimaca kojom se potvrđuje da je sto posto (100%) pretposlednjeg Avansa i poslednjeg Avansa iskorišćeno, kao i detaljnu specifikaciju plaćenih iznosa koji spadaju u kategoriju Dozvoljenih rashoda tokom relevantnog perioda; i
(ii) najkasnije u roku od tri (3) meseca nakon datuma dostavljanja potvrde navedene u gornjoj tački (i), finalni revizorski izveštaj Namenskog računa (“Finalni revizorski izveštaj”), sprovedenog u skladu sa odredbama Sporazuma o zajmu IBRD-a i Projektnog operativnog priručnika. Imenovani revizor proveriće da xx xx svi iznosi povučeni u okviru Kredita i uplaćeni na Namenski račun korišćeni u skladu sa uslovima i odredbama ovog Ugovora.
Ako su neki Dozvoljeni troškovi denominovani u valuti koja nije evro, Zajmoprimac će konvertovati iznos fakture u ekvivalentni iznos u evrima, u skladu sa odredbama Sporazuma o zajmu IBRD-a i Projektnog operativnog priručnika.
(g) Rok za korišćenje sredstava
Zajmoprimac je saglasan da će se sva sredstva uplaćena u obliku avansa u potpunosti koristiti za plaćanje dozvoljenih troškova najkasnije do krajnjeg roka za korišćenje sredstava.
Zajmoprimac je saglasan da će, tokom Perioda povlačenja, Namenski račun biti predmet revizije u skladu sa odredbama Sporazuma o zajmu IBRD-a i Projektnog operativnog priručnika. Revizor će verifikovati da xx xx svi iznosi povučeni u okviru Kredita i uplaćeni na Namenski račun iskorišćeni u skladu sa uslovima ovog Ugovora.
Zajmoprimac će izveštaje o reviziji staviti na raspolaganje Zajmodavcu preko Sufinansijera.
Tokom Perioda povlačenja sredstava, Zajmodavac može izvršiti ili naručiti da treće lice u njegovo ime i o trošku Zajmoprimca izvrši nasumičnu, a ne sistematsku kontrolu dokumentacije.
(i) Propust da se opravda korišćenje Avansa do Krajnjeg roka za korišćenje sredstava
Zajmodavac može zahtevati da Zajmoprimac vrati sve iznose čije korišćenje nije bilo pravilno ili dovoljno opravdano, u skladu sa Sporazumom o zajmu IBRD-a, zajedno sa svim ostalim iznosima potražnog salda na Namenskom računu na xxx Krajnjeg roka za korišćenje sredstava. Zajmoprimac će vratiti takve iznose Zajmodavcu u roku od dvadeset (20) kalendarskih xxxx od xxxx prijema takvog obaveštenja od Zajmodavca. Svaka otplata koju će Zajmoprimac izvršiti prema ovom članu tretiraće xx xxx obavezna prevremena otplata u skladu sa odredbama člana 8.2 (Obavezna prevremena otplata).
Zajmoprimac ima obavezu čuvanja evidencije i drugih dokumenata u vezi sa Namenskim računom i korišćenjem avansa u periodu od deset (10) xxxxxx xx datuma poslednjeg Povlačenja kreditnih sredstava.
Zajmoprimac se obavezuje da će takvu evidenciju i druga dokumenta dostavljati Zajmodavcu, ili bilo kojoj revizorskom firmi imenovanoj xx xxxxxx Zajmodavca, na zahtev Zajmodavca.
4. KAMATA
4.1 Kamatna xxxxx
Za svako Povlačenje sredstava, Zajmoprimac može odabrati fiksnu Kamatnu stopu ili varijabilnu Kamatnu stopu, xxxx xx se primenjivati na iznos definisan u relevantnom Zahtevu za povlačenje sredstava, navodeći izabranu Kamatnu stopu tj. fiksnu ili varijabilnu u Zahtevu za povlačenje sredstava koji se dostavlja Zajmodavcu suštinski u formi i sadržaju datih u Prilogu 5A (Obrazac zahteva za povlačenje sredstava), pod sledećim uslovima:
(i) Varijabilna kamatna xxxxx
Zajmoprimac može odabrati varijabilnu Kamatnu stopu, xxxx xx biti procentualna godišnja xxxxx, xxxx xx zbir:
- šestomesečnog EURIBOR-a, ili, zavisno od slučaja, zamenske xxxxxx uvećane za bilo koju Xxxxx za prilagođavanje, utvrđene u skladu sa odredbama člana 5 (Izmena obračuna xxxxxx) Xxxxxxx; i
- Xxxxx.
Ne dovodeći u pitanje xxxx navedeno, u slučaju prvog Povlačenja sredstava, ako je prvi Kamatni period kraći od sto trideset i pet (135) xxxx, primenjivi EURIBOR će biti:
- jednomesečni EURIBOR ili, zavisno od slučaja, Zamenska kamata uvećan za bilo koju Xxxxx za prilagođavanje, utvrđenu u skladu sa odredbama člana 5 (Izmena obračuna xxxxxx) Xxxxxxx, ukoliko je prvi Kamatni period kraći od šezdeset (60) xxxx; ili
- tromesečni EURIBOR ili, zavisno od slučaja, Zamenska kamata uvećan za bilo koju Xxxxx za prilagođavanje, utvrđenu u skladu sa odredbama člana 5 (Izmena obračuna xxxxxx) Xxxxxxx, ukoliko je prvi Kamatni period između šezdeset (60) i sto trideset pet (135) xxxx.
(ii) Fiksna kamatna xxxxx
Pod uslovom da je iznos traženog Povlačenja sredstava jednak ili veći od tri miliona evra (3.000.000 EUR), Zajmoprimac može odabrati fiksnu Kamatnu stopu za takvo zahtevano povlačenje. Fiksna Kamatna xxxxx predstavlja Fiksnu referentnu stopu uvećanu ili umanjenu za svaku fluktuaciju Indeksne stope za period od Datuma potpisivanja do relevantnog Datuma utvrđivanja stope.
Kamatna xxxxx utvrđena u skladu sa članom 4.1.1 (Odabir kamatne stope), bez obzira na izabranu opciju, neće biti manja od jedne četvrtine procenta (0,25%) na godišnjem nivou, bez obzira na bilo kakav pad Kamatne stope.
4.1.3 Konverzija varijabilne Kamatne stope u fiksnu Kamatnu stopu
(i) Konverzija stope na zahtev Zajmoprimca
U bilo kom trenutku, Zajmoprimac može zatražiti od Zajmodavca Konverziju varijabilne Kamatne stope koja se primenjuje na Povlačenje sredstava ili nekoliko Povlačenja sredstava u fiksnu Kamatnu stopu, pod uslovom da je iznos takvog Povlačenja sredstava ili ukupni iznos Povlačenja (prema potrebi) jednak ili veći od tri miliona evra (3.000.000 EUR).
U xxx smislu, Zajmoprimac će Zajmodavcu poslati Zahtev za konverziju stope suštinski u formi navedenoj u Prilogu 5C (Obrazac zahteva za konverziju stope). Zajmoprimac može u Pismu o konverziji stope navesti maksimalni iznos za fiksnu Kamatnu stopu. Ako fiksna Kamatna xxxxx, izračunata na datum određivanja stope, premašuje maksimalni iznos fiksne Kamatne stope naveden xx xxxxxx Zajmoprimca u Zahtevu za konverziju stope, takav Zahtev za konverziju stope automatski će biti poništen.
Fiksna kamatna xxxxx stupiće na snagu dva (2) Radna xxxx xxxxx Datuma utvrđivanja stope.
(ii) Procedura konverzije stope
Fiksna kamatna xxxxx koja se primenjuje na odgovarajuće Povlačenje(a) sredstava utvrđuje se u skladu sa članom 4.1.1(ii) (Fiksna kamatna xxxxx) na Datum utvrđivanja xxxxxx navedenim pod tačkom (i) xxxx.
Zajmodavac će poslati Zajmoprimcu pismo potvrde o Konverziji stope suštinski u formi datoj u Prilogu 5D (Obrazac potvrde konverzije stope).
Konverzija stope je konačna i vrši se bez troškova.
4.2 Obračun i plaćanje kamata
Zajmoprimac će platiti obračunate xxxxxx xx Povlačenje(a) sredstava na svaki Datum plaćanja.
(i) Stanje duga glavnice koju Zajmoprimac duguje u vezi sa odgovarajućim Povlačenjem sredstava na xxx koji neposredno prethodi Datumu plaćanja ili, u slučaju prvog Kamatnog perioda, na odgovarajući Datum povlačenja sredstava;
(ii) tačnog xxxxx xxxx xxxx xx obračunati tokom relevantnog Kamatnog perioda uzimajući za osnovu godinu u trajanju od xxxxxx šezdeset (360) xxxx; i
(iii) primenjive kamatne stope utvrđenu u skladu sa odredbama člana 4.1 (Kamatna xxxxx).
4.3 Kašnjenje u plaćanju i zatezna kamata
(a) Kašnjenje u plaćanju i zatezna kamata na sve dospele i neplaćene iznose (osim kamata)
Ako Zajmoprimac ne plati bilo koji iznos koji je dospeo prema ovom Ugovoru, (bilo da se radi o plaćanju glavnice, Naknadi za prevremenu otplatu, bilo kakvim naknadama ili usputnim troškovima bilo koje vrste, osim za neplaćene dospele xxxxxx) na xxx dospeća, kamata će se obračunati na dospeli a neplaćeni iznos, u meri u kojoj to zakon dozvoljava, od datuma dospeća do datuma stvarne isplate (i pre i posle arbitražne odluke, ako postoji) po Kamatnoj stopi koja se primenjuje na Tekući Kamatni period (zatezne xxxxxx) uvećan za tri i po procenta (3,5%) (zatezna kamata). Nije potrebno nikakvo formalno prethodno obaveštenje xx xxxxxx Zajmodavca.
(b) Kašnjenje u plaćanju i zatezna kamata na neplaćene dospele xxxxxx
Xx xxxxxx koje su dospele a nisu namirene, obračunava se kamata, pod uslovom da su ostale neplaćene godinu xxxx i u meri dopuštenoj zakonom, po Kamatnoj stopi koja se primenjuje u tekućem Kamatnom periodu (zatezna kamata), uvećanoj za tri i po procenta (3,5%) (zatezna kamata), u meri u kojoj je takva Kamata dospela i plativa najmanje jednu (1) godinu. Nije potrebno nikakvo formalno prethodno obaveštenje xx xxxxxx Zajmodavca.
Zajmoprimac će platiti sve zaostale xxxxxx xxxxx ovom članu
4.3 (Kašnjenje u plaćanju i zatezna kamata) odmah na zahtev Zajmodavca ili na svaki Datum isplate koji sledi nakon datuma dospeća za neizmireno plaćanje.
(c) Prijem bilo koje xxxxxx za kašnjenje u plaćanju ili zatezne xxxxxx xx xxxxxx Zajmodavca ne podrazumeva odobrenje bilo
kakvog produženja plaćanja Zajmoprimcu, niti predstavlja odricanje bilo kog prava Zajmodavca iz ovog Ugovora.
4.4 Komunikacija kamatnih xxxxx
Zajmodavac će odmah obavestiti Zajmoprimca o određivanju svake Kamatne stope u skladu sa ovim Ugovorom.
4.5 Efektivna globalna xxxxx (Taux Effectif Global)
U skladu sa članovima L. 314-1 - L.314-5 i R.314-1 i dalje francuskog zakona o potrošačima i L. 313-4 francuskog monetarnog i finansijskog zakonika, Zajmodavac obaveštava Zajmoprimca, a Zajmoprimac prihvata da se efektivna globalna xxxxx (taux effectif global) koja se primenjuje na Kredit može utvrđivati po godišnjoj stopi od nula zarez šezdeset xxxxx procenata (0.67%) na osnovu kalendarske godine od xxxxxx šezdeset pet (365) xxxx i šestomesečnog (6) Kamatnog perioda, pod sledećim uslovima:
(a) xxxx navedena xxxxx xx data samo u informativne svrhe;
(b) gornja xxxxx obračunava se na osnovu:
(i) povlačenja Kredita je potpuno na Datum potpisivanja;
(ii) nijedno Povlačenje stavljeno na raspolaganje Zajmoprimcu neće podrazumevati kamatu na varijabilnu stopu; i
(iii) fiksna xxxxx za vreme trajanja Kredita treba da bude jednaka nula zarez šezdeset tri procenta (0.63%);
5. IZMENA OBRAČUNA XXXXXX
5.1 Poremećaj tržišta
(a) Ako Poremećaj tržišta utiče na međubankarsko tržište u evrozoni i nemoguće je:
(i) utvrditi Kamatnu stopu za potrebe fiksne Kamatne stope koja se primenjuje na Povlačenje sredstava; ili
(ii) utvrditi primenjivi EURIBOR za varijabilnu kamatnu stopu, za relevantni Kamatni period;
Zajmodavac će o tome obavestiti Zajmoprimca.
(b) Po nastupu xxxx navedenog događaja opisanog u tački (a), primenjiva Kamatna xxxxx, u zavisnosti od slučaja, za relevantno Povlačenje sredstava ili za odgovarajući Kamatni period xxxx zbir:
(i) Xxxxx; i
(ii) procentualne stope na godišnjem nivou koja odgovara troškovima Zajmodavca za finansiranje odgovarajućih Povlačenja sredstava iz bilo kog izvora xxxx xxxx razumno odabrati. Zajmoprimac će o takvoj stopi biti obavešten što je pre moguće i, u svakom slučaju, pre (1) prvog Datuma plaćanja za xxxxxx po osnovu takvog Povlačenja sredstava za
fiksnu Kamatnu stopu ili (2) Datuma plaćanja za xxxxxx po osnovu tog Kamatnog perioda za varijabilnu Kamatnu stopu.
5.2 Zamena Prikaza referentne stope
5.2.1 Definicije
"Relevantno telo za imenovanje" označava bilo koju centralnu banku, regulatora, nadzorni organ ili radnu grupu ili odbor koji finansira ili kojim predsedava ili je konstituisano na zahtev bilo kog od njih.
"Događaj zamene prikaza Referentne stope" označava bilo koji od narednih događaja ili niza događaja:
(a) bitno su se promenili definicija, metodologija, formula ili način utvrđivanja Prikaza referentne stope;
(b) donesen xx xxxxx ili xxxxxx xxxxx se zabranjuje upotreba Prikaza referentne stope, uz preciziranje, kako bi se izbegla sumnja, da nastup ovog događaja neće predstavljati događaj obavezne prevremene otplate;
(c) administrator Prikaza referentne stope ili njegov supervizor javno objavljuje:
(i) da je prestao ili će prestati da pruža Prikaz referentne stope trajno ili na neodređeno vreme, i u to vreme nijedan naslednik administratora nije javno nominovan da nastavi da obezbeđuje Prikaz referentne stope;
(ii) da je Prikaz referentne stope prestao ili će prestati da se objavljuje trajno ili na neodređeno vreme; ili
(iii) da se Prikaz referentne stope više neće koristiti (bilo xxxx ili u budućnosti);
(d) javno se objavljuje informacija o bankrotu administratora Xxxxxxx referentne stope ili drugom postupku nesolventnosti koji se protiv njega vodi, a u to vreme nijedan naslednik administratora nije javno nominovan da nastavi da obezbeđuje Prikaz referentne stope; ili
(e) po mišljenju Zajmodavca, Prikaz referentne stope je prestao da se koristi u nizu uporedivih finansijskih transakcija.
"Prikaz referentne stope" označava EURIBOR, ili sledeće zamene za ovu stopu Zamenskom stopom.
"Datum zamene Prikaza referentne stope " označava:
– u vezi xx xxxx navedenim događajima u tačkama a), d) i e) definicije Događaja zamene Prikaza referentne stope, datum na koji Zajmodavac ima saznanja o nastanku takvog događaja; i
– u vezi xx xxxx navedenim događajima u tačkama b) i c) definicije Događaja zamene Prikaza referentne stope, datum nakon kojeg će upotreba Xxxxxxx referentne stope biti zabranjena ili datum kada će administrator Xxxxxxx referentne stope trajno ili na neodređeno vreme prestati da pruža Xxxxxx
referentne stope ili datum nakon kojeg se Prikaz referentne stope više ne može koristiti.
5.2.2 Svaka strana prihvata i saglasna je u korist druge Strane, da ukoliko dođe do Događaja zamene Prikaza referentne stope i u cilju očuvanja ekonomske ravnoteže Ugovora, Zajmodavac može zameniti Prikaz referentne stope drugom stopom ("Zamenska xxxxx") koja može uključiti Maržu za prilagođavanje kako bi se izbegao bilo kakav prenos ekonomske vrednosti između Strana (ako ih ima) ("Marža za prilagođavanje") i Zajmodavac će utvrditi datum od kada će Zamenska xxxxx i, ukoliko postoji, Marža za prilagođavanje zameniti Prikaz referentne stope i sve druge izmene i dopune Ugovora potrebne kao rezultat zamene Prikaza referentne stope Zamenskom stopom.
5.2.3 Određivanje Zamenske stope i neophodne izmene i dopune xxxx xxxxxx u dobroj nameri i uzimajući u obzir (i) preporuke bilo kog Relevantnog tela za imenovanje; ili (ii) preporuke administratora Prikaza referentne stope; ili (iii) sektorsko rešenje koje preporučuju profesionalna udruženja u bankarskom sektoru; ili (iv) tržišnu praksu primenjenu u nizu uporedivih finansijskih transakcija na datum zamene.
5.2.4 U slučaju zamene Prikaza referentne stope, Xxxxxxxxxx će odmah obavestiti Zajmoprimca o uslovima zamene Prikaza referentne stope Zamenskom stopom, xxxx xx biti primenjiva na Kamatni period počevši od najmanje dva Radna xxxx xxxxx Datuma zamene Prikaza referentne stope.
5.2.5 Odredbe člana 5.2 (Događaj zamene prikaza Referentne stope) imaće prednost nad odredbama člana 5.1 (Poremećaj tržišta).
6. NAKNADE
6.1 Naknada na nepovučena sredstava
Sto osamdeset (180) kalendarskih xxxx xxxxx Datuma potpisivanja, Zajmoprimac će Zajmodavcu platiti naknadu na nepovučena sredstava (dospele i obračunate u skladu sa ispod navedenim) u iznosu od jedne četvrtine procenta (0,25%) na godišnjem nivou.
Naknada na nepovučena sredstava xxxx obračunata po xxxx navedenoj stopi na iznos raspoloživog Kredita proporcionalno stvarnom broju proteklih xxxx, uvećana za iznos svakog Povlačenja sredstava koje će Zajmodavac staviti na raspolaganje, u skladu sa tekućim Zahtevima za povlačenje sredstava.
Prva naknada na nepovučena sredstava xxxx obračunata za period od
(i) xxxx koji pada šezdeset (60) kalendarskih xxxx xxxxx Datuma potpisivanja (ne uključujući taj xxx) do (ii) neposredno posle Datuma plaćanja (uključujući i taj datum). Naknadne naknade na nepovučena sredstava xxxx obračunate za period koji počinje na xxx neposredno nakon Datuma plaćanja (uključujući i taj datum) i završava se sledećim Datumom plaćanja (uključujući i taj datum).
Obračunata naknada na nepovučena sredstava xxxx plativa (i) svakog Datuma plaćanja tokom Perioda raspoloživosti; (ii) na Datum plaćanja
nakon poslednjeg xxxx Perioda za povlačenje sredstava; i (iii) u slučaju da je Xxxxxxxxxxx kredit otkazan u potpunosti, na Datum plaćanja nakon datuma stupanja na snagu tog otkazivanja.
6.2 Pristupna naknada
Najkasnije sto osamdeset (180) kalendarskih xxxx xxxxx Datuma potpisivanja i pre prvog Povlačenja sredstava, Zajmoprimac će Zajmodavcu platiti pristupnu naknadu u iznosu od jedne četvrtine procenta (0,25%) obračunatu na maksimalni iznos Kredita.
7. OTPLATA
Nakon isteka Grejs perioda, Zajmoprimac će Zajmodavcu otplatiti glavnicu Kredita u osam (8) jednakih polugodišnjih rata, koje dospevaju i plative su na svaki Datum plaćanja.
Prva rata dospeva i plativa je 15. decembra 2027. godine, dok poslednja rata dospeva i plativa je 15. xxxx 2031.
Na kraju Perioda za povlačenje sredstava, Zajmodavac će Zajmoprimcu dostaviti plan amortizacije vezan za Kredit, uzimajući u obzir, ukoliko je primenjivo, svako potencijalno otkazivanje Kredita u skladu sa članom
8.3 (Otkazivanje xx xxxxxx Zajmoprimca) i/ili 8.4 (Otkazivanje xx xxxxxx Zajmodavca).
8. PREVREMENA OTPLATA I OTKAZIVANJE
8.1 Dobrovoljna prevremena otplata
Zajmoprimac nema prava da prevremeno otplati celokupan Kredit pre isteka perioda od pet (5) xxxxxx počevši od Datuma potpisivanja.
Od datuma navedenog u prethodnom stavu, Zajmoprimac može izvršiti prevremenu otplatu celokupnog iznosa ili dela Kredita, pod sledećim uslovima:
(b) Iznos prevremene otplate xxxx jednak glavnici jedne ili više rata;
(c) Predviđeni datum prevremene otplate xxxx Datum prevremene otplate;
(e) Ne postoje neizmireni iznosi; i
Na Datum plaćanja xxxx xx izvršena prevremena otplata, Zajmoprimac će isplatiti celokupan iznos Naknade za prevremenu otplatu dospelu i plativu u skladu sa članom 9.3 (Naknada za prevremenu otplatu)
8.2 Obavezna prevremena otplata
Zajmoprimac će odmah izvršiti prevremenu otplatu celokupnog ili dela Kredita, nakon prijema obaveštenja xx xxxxxx Zajmodavca u kome ga obaveštava o bilo kom od sledećih događaja:
(a) Nezakonitosti: u skladu sa važećim zakonom, postaje nezakonito za Zajmodavca da izvršava bilo koju od svojih obaveza iz ovog Ugovora ili da finansira ili održava Kredit;
(b) Dodatni troškovi: iznos Dodatnih troškova navedenih u članu 9.5 (Dodatni troškovi) je značajan i Zajmoprimac odbija xx xxxxx takve Dodatne troškove;
(c) Neizvršenje obaveza: Zajmodavac objavljuje da xx xxxxx do Slučaja neizvršenja obaveza u skladu sa članom 13 (Slučaj neizvršenja obaveza);
(d) Propust u pravdanju korišćenja sredstava: Zajmoprimac nije opravdao na način koji je zadovoljavajući za Zajmodavca korišćenje Avansa do Roka za korišćenje sredstava;
(e) Prevremeno plaćanje prema Sufinansijeru: Zajmoprimac prevremeno otplaćuje celokupan ili deo iznosa koji duguje Sufinansijeru, u kom slučaju će Zajmodavac imati pravo da traži od Zajmoprimca da izvrši prevremenu otplatu, zavisno od slučaja, Kredita ili iznosa neizmirenog Kredita proporcionalno iznosu koji je prevremeno otplaćen Sufinansijeru.
U slučaju svakog xx xxxx navedenih događaja u stavovima (a), (b) i (c), Zajmodavac zadržava pravo, nakon što je obavestio Zajmoprimca u pisanoj formi, da iskoristi svoja prava poverioca na način definisan u stavu (b) člana 13.2 (Ubrzanje).
8.3 Otkazivanje xx xxxxxx Zajmoprimca
Pre Roka za povlačenje sredstava, Zajmoprimac može otkazati celokupan ili deo Raspoloživog kredita tako što će Zajmodavcu dostaviti obaveštenje tri (3) Xxxxx xxxx ranije.
Nakon prijema takvog obaveštenja o otkazivanju, Zajmodavac će otkazati iznos koji xx xxxxx Zajmoprimac, pod uslovom da su Dozvoljeni rashodi, kao što je navedeno u Planu finansiranja, pokriveni na način zadovoljavajući za Zajmodavca, osim u slučaju da Zajmoprimac napušta Projekat.
8.4 Otkazivanje xx xxxxxx Zajmodavca
Raspoloživi kredit će biti otkazan odmah nakon dostavljanja obaveštenja Zajmoprimcu i odmah stupa na snagu, ako:
(a) Raspoloživi kredit nije jednak nuli na xxx Xxxx za povlačenje sredstava;
(c) Xxxxx xx do Slučaja neizvršenja obaveza i on se nastavlja; ili
(d) Xxxxx xx do događaja navedenog u članu 8.2 (Obavezna prevremena otplata);
osim xxxx xx u slučaju stavova (a) i (b) ovog člana 8.4 (Otkazivanje xx xxxxxx Zajmodavca), Zajmodavac predložio da se odloži Rok za povlačenje sredstava ili rok za prvo Povlačenje sredstava na osnovu novonastalih finansijskih uslova koji se odnose na svako Povlačenje sredstava u okviru Raspoloživog kredita i Zajmoprimac se složio sa xxx predlogom.
8.5 Ograničenja
(a) Sva obaveštenja o prevremenoj otplati ili otkazivanju koju jedna Strana šalje u skladu sa ovim članom 8 (Prevremena otplata i otkazivanje) xxxx neopoziva i, ukoliko ovim Ugovorom nije drugačije predviđeno, u svakom takvom obaveštenju potrebno je navesti datum ili datume kada se relevantna prevremena otplata ili otkazivanje izvršava, kao i iznos navedene prevremene otplate ili otkazivanja.
(c) Svaka prevremena otplata prema ovom Ugovoru xxxx izvršena zajedno sa plaćanjem (i) obračunate xxxxxx xx iznos prevremene otplate; (ii) neizmirenih naknada; i (iii) Naknade za prevremenu otplatu iz člana 9.3 (Naknada za prevremenu otplatu).
(d) Svaki iznos prevremene otplate xxxx primenjen na preostale rate obrnutim redosledom dospeća.
9. OBAVEZE DODATNIH PLAĆANJA
9.1 Troškovi i rashodi
9.2 Naknada za otkazivanje
Ako xx Xxxxxx otkazan u potpunosti ili delimično, u skladu sa stavovima (a), (b) i (c) člana 8.3 (Otkazivanje xx xxxxxx Zajmoprimca) i/ili 8.4 (Otkazivanje xx xxxxxx Zajmodavca), Zajmoprimac će platiti Naknadu za otkazivanje koja iznosi dva i po procenta (2.5%) otkazanog iznosa Kredita.
Svaka Naknada za otkazivanje dospeva i plativa je na Datum plaćanja koji sledi odmah nakon otkazivanja celokupnog ili dela Kredita.
9.3 Naknada za prevremenu otplatu
Zbog bilo kakvog gubitka koji je Zajmodavac pretrpeo, kao rezultat prevremene otplate celokupnog ili dela Kredita u skladu sa članom 8.1 (Dobrovoljna prevremena otplata) ili 8.2 (Obavezna prevremena otplata), Zajmoprimac će platiti Zajmodavcu naknadu jednaku ukupnom iznosu:
- Kompenzacijske naknada za prevremenu otplatu; i
- bilo kojih troškova nastalih usled prekida bilo koje transakcije koja se odnosi na zaštićenu kamatnu stopu xxxx xx Zajmodavac uspostavio u vezi sa prevremeno otplaćenim iznosom.
9.4 Porezi i dažbine
9.5 Dodatni troškovi
Zajmoprimac će Zajmodavcu platiti u roku od deset (10) Radnih xxxx na zahtev Zajmodavca sve Dodatne troškove koje je Zajmodavac snosio: (i) stupanja na snagu bilo kog novog zakona ili propisa, ili izmena i dopuna, ili bilo kakve promene u tumačenju ili primeni postojećih zakona i propisa; ili (ii) usaglašenosti sa zakonima ili propisima donesenim nakon Datuma potpisivanja.
Za potrebe ovog člana, “Dodatni troškovi” označavaju:
(ii) Svako umanjenje iznosa dospelog i plativog prema ovom Ugovoru,
koji je snosio Zajmodavac kao rezultat (i) stavljanja Kredita na raspolaganje Zajmoprimcu; ili (ii) preuzimanja ili realizacije obaveza koje proističu iz ovog Ugovora.
9.6 Naknada za valutu
Ukoliko bilo koji iznos koji Zajmoprimac duguje prema ovom Ugovoru, ili bilo koji nalog, presuda ili odluka xxxxxx ili data u vezi sa xxx sumom, xxxx biti konvertovana iz valute u kojoj je plativa u drugu valutu za potrebe:
(i) podnošenja zahteva ili dokaza protiv Zajmoprimca; ili
Zajmoprimac će obeštetiti Zajmodavca i u roku od deset (10) Radnih xxxx od xxxx prijema zahteva Zajmodavca, u skladu sa zakonom, platiti Zajmodavcu iznos bilo kog xxxxxx, gubitka ili obaveza koje proističu ili su rezultat konverzije, uključujući bilo kakvo odstupanje između: (A) deviznog kursa korišćenog za konverziju relevantne sume iz prve valute u drugu valutu; i (B) deviznog kursa ili kurseva na raspolaganju Zajmodavcu u trenutku prijema te sume. Ova obaveza obeštećenja Zajmodavca nezavisna je od drugih obaveza Zajmoprimca prema ovom Ugovoru.
Zajmoprimac se odriče bilo kog prava koje bi mogao imati u bilo kojoj jurisdikciji na plaćanje bilo kog iznosa dospelog prema ovom Ugovoru u valuti ili valutnoj jedinici koja nije ona xxxx xx navedena kao valuta plaćanja.
9.7 Rokovi
Svaka odšteta ili refundacija plativa xx xxxxxx Zajmoprimca Zajmodavcu u skladu sa članom 9 (Obaveze dodatnih plaćanja) dospeva i plativa je na Datum plaćanja odmah nakon okolnosti koje su za rezultat xxxx relevantnu odštetu ili refundaciju.
Ne dovodeći u pitanje xxxx navedeno, svaka odšteta koja se plaća u vezi sa prevremenom otplatom u skladu sa članom 9.3 (Naknada za prevremenu otplatu) dospeva i plativa je na datum relevantne prevremene otplate.
10. IZJAVE I GARANCIJE
Sve izjave i garancije navedene u ovoj tački 10 (Izjave i garancije) daje Zajmoprimac u korist Zajmodavca na Datum potpisivanja. Za sve izjave i garancije u članu 10 (Izjave i garancije) se takođe smatra da je Zajmoprimac dao na datum kada su ispunjeni svi preduslovi navedeni u Delu III Priloga 4 (Preduslovi) na Datum svakog zahteva za povlačenje sredstava, na Datum svakog povlačenja sredstava i svaki Datum plaćanja, osim što se smatra da je Zajmodavac ponavljajuće izjave sadržane u članu 10.9 (Nema obmanjujućih informacija) dao u odnosu na informacije koje je Zajmoprimac dostavio od datuma xxxx xx izjava poslednji put data.
10.1 Nadležnost i odobrenje
Zajmoprimac ima nadležnost da sklopi, izvrši i dostavi ovaj Ugovor i Projektna dokumenta i da izvrši sve predviđene obaveze. Zajmoprimac
je preduzeo sve neophodne mere da odobri sklapanje, izvršenje i isporuku ovog Ugovora i transakcije predviđene ovim Ugovorom i Projektnim dokumentima.
10.2 Validnost i prihvatljivost dokaza
Sva odobrenja potrebna:
pribavljena su i pravosnažna su i važeća i ne postoje okolnosti koje bi xxxxx rezultirati ukidanjem, neobnavljanjem ili izmenama celokupnih ili dela tih Odobrenja.
10.3 Obaveze
Obaveze koje je Zajmoprimac preuzeo prema ovom Ugovoru i Projektnim dokumentima u skladu su sa svim zakonima i propisima primenjivim na Zajmoprimca u njegovoj jurisdikciji i predstavljaju pravosnažne, validne, obavezujuće i izvršive obaveze koje su na snazi u skladu sa pisanim uslovima koji se na njih odnose.
10.4 Nema podnošenja niti taksenih marki
Po zakonima jurisdikcije osnivanja Zajmoprimca, nije neophodno da se Ugovor podnosi, evidentira ili zavodi kod bilo kog suda ili drugog organa u toj jurisdikciji niti da se plaćaju bilo kakve taksene marke, registracija, niti slične takse niti naknade na ili u vezi sa Ugovorom niti predviđenim transakcijama iz Ugovora.
10.5 Transfer sredstava
Svi iznosi dospeli koje Zajmoprimac duguje Zajmodavcu prema ovom Ugovoru bez obzira da li se radi o glavnici ili kamati, ili kamati za kašnjenje u plaćanju, Naknadi za prevremenu otplatu, pratećim troškovima i rashodima ili bilo kojoj drugoj sumi mogu se slobodno konvertovati i prenositi.
Ova izjava ostaje pravosnažna i važeća do potpune isplate svih iznosa koji se duguju Zajmodavcu. U slučaju da Zajmodavac produži period otplate Kredita, neće biti potrebno dodatno potvrđivati ovu izjavu.
Zajmoprimac će na vreme pribaviti evre neophodne za ispunjenje obaveza prema ovoj izjavi.
Ukoliko bi došlo do bilo kakvog problema po pitanju prava Zajmodavca da konvertuje i slobodno izvrši transfer bilo koje sume prema ovom Ugovoru iz bilo kog razloga, uključujući ali ne ograničavajući se na: (i) stupanje na snagu bilo kog zakona ili propisa, ili izmena i dopuna na iste, ili bilo kakve promene u tumačenju ili primeni postojećih zakona ili propisa; ili (ii) usaglašenosti sa zakonima ili propisima donesenim nakon Datuma potpisivanja, Zajmoprimac će bez odlaganja obezbediti sva potrebna uverenja/potvrde xx xxxxxx nadležnih institucija (uključujući i
Narodnu banku Srbije) kako bi se omogućilo da svi dospeli iznosi prema ovom Ugovoru budu slobodno konvertibilni i prenosivi.
10.6 Nesukobljavanje sa drugim obavezama
Stupanje na snagu i sprovođenje transakcija predviđenih ovim Ugovorom i Projektnim dokumentima xx xxxxxx Zajmoprimca nisu u sukobu xx xxxx kojim domaćim i stranim primenjivim zakonom ili propisom, ustavom (ili bilo kojim sličnim dokumentima) xxxx xxxx kojim drugim obavezujućim sporazumom ili instrumentom za Zajmoprimca ili koji utiču na bilo koju njegovu imovinu.
10.7 Merodavno pravo i izvršenje
10.8 Nema neizvršenja obaveza
Nijedan slučaj neizvršenja obaveze ne traje niti bi se razumno moglo očekivati da će do njega doći.
Nijedan slučaj neizvršenja obaveze xx xxxxxx Zajmoprimca ne traje u vezi xx xxxx kojim drugim obavezujućim sporazumom ili kojima podleže njegova imovina a koji ima ili je razumno verovatno da će imati Materijalno negativan uticaj.
10.9 Nema obmanjujućih informacija
Sve informacije i dokumenta koje Zajmoprimac dostavi Zajmodavcu su bile istinite, tačne i ažurirane na datum kada su dostavljene ili, ako je primenljivo, na datum kada se navodi da će biti date i nisu promenjene, opozvane, poništene ili izmenjene pod revidiranim uslovima i nisu obmanjujuće ni po kom materijalnom osnovu, kao rezultat propusta, pojave novih okolnosti niti obelodanjivanja ili neobelodanjivanja bilo kojih informacija.
10.10 Projektna dokumenta
Projektna dokumenta predstavljaju celokupan sporazum koji se odnosi na Projekat na Datum potpisivanja i važeća su, obavezujuća i izvršna protiv trećih lica. Projektna dokumenta nisu izmenjena, raskinuta ili suspendovana bez prethodnog odobrenja Zajmodavca od datuma kada su predata Zajmodavcu i trenutno ne postoji spor u vezi sa validnošću Projektnih dokumenata.
10.11 Projektna odobrenja
Sva Projektna odobrenja dobijena su ili su izvršena i pravosnažna su i važeća i ne postoje okolnosti koje bi xxxxx rezultirati povlačenjem, ukidanjem, neobnavljanjem ili izmenama bilo kojih Projektnih odobrenja u celosti ili delimično.
10.12 Nabavka
Zajmoprimac: (i) je dobio primerak Relevantnih smernica za nabavke; i
(ii) razume uslove Relevantnih smernica za nabavke, a posebno one
uslove koji se odnose na sve radnje koje Zajmodavac može preduzeti u slučaju kršenja Relevantnih smernica za nabavke.
Zajmoprimac je ugovorno vezan Relevantnim smernicama za nabavke xxx xx xx takve Relevantne smernice za nabavke referencom uključene u ovaj Ugovor. Zajmoprimac potvrđuje da su nabavka, raspodela i izvršenje ugovora koji se odnose na sprovođenje projekta u skladu sa Relevantnim smernicama za nabavke.
Zajmoprimac je prihvatio sadržaj Izjave o integritetu AFD-a date u Prilogu 7 (Izjava o integritetu AFD-a) ovog Ugovora. Zahtevi definisani u Izjavi o integritetu AFD-a moraju formalno biti ispunjeni xx xxxxxx bilo kog nosioca ugovora koji se sklapa u okviru ovog Projekta, i, prema tome, po potrebi, potrebno je da bude uključena u dokumentaciji koja prethodi nabavci.
10.13 Rangiranje po principu pari passu
Obaveze plaćanja po osnovu ovog Ugovora rangiraju se minimum pari passu sa potraživanjima svih drugih neobezbeđenih i nesubordinisanih poverilaca.
10.14 Poreklo sredstava, Koruptivne radnje, prevare i nelojalne prakse Zajmoprimac izjavljuje i garantuje da:
10.15 Nema materijalnih negativnih efekata
Zajmoprimac izjavljuje i garantuje da se nije xxxxx xxxx je verovatno da će se desiti ni jedan događaj ili okolnost koja bi mogla imati Materijalno negativan efekat.
10.16 Nema imuniteta
Ako i u meri u kojoj Zajmoprimac može xxxx ili u budućnosti u bilo kojoj jurisdikciji zatražiti imunitet za sebe ili svoju imovinu i u meri u kojoj neka jurisdikcija garantuje imunitet Zajmoprimcu, Zajmoprimac neće imati pravo da zahteva za sebe ili za svoju imovinu imunitet od tužbe, izvršenja, zaplene ili drugog pravnog postupka u vezi sa ovim Ugovorom u najvećoj meri dozvoljenoj zakonima takve jurisdikcije.
„konzularne prostorije“ xxxx xx definisano Xxxxxx konvencijom o diplomatskim odnosima potpisanom 1963. godine (iii) imovina koja ne može biti predmet trgovanja, (iv) vojnih sredstava ili vojne imovine i zgrada, oružja i opreme namenjih odbrani, državnoj i javnoj bezbednosti, (v) potraživanja xxxx xx potražnja zabranjena zakonom, (vi) prirodnih resursa, predmeta za redovnu upotrebu, zemlje pored basena reka i vodenih postrojenja u javnom vlasništvu, zaštićenog prirodnog i kulturnog nasleđa u javnom vlasništvu, (vii) nepokretnosti u javnom
vlasništvu koja se delimično ili potpuno koristi xx xxxxxx organa Republike Srbije, autonomnih pokrajina ili lokalnih samouprava u cilju obavljanja poslova, (viii) akcije i obveznice autonomnih pokrajina i lokalnih samouprava u kompanijama i javnim preduzećima, osim ako je nadežni organ pristao na uspostavljanje tereta na xxx akcijama i obveznicama, (ix) pokretna i nepokretna imovina zdravstvenih institucija osim ako je hipoteka utvrđena na osnovu odluke Vlade (x) novčana sredstva i finansijski instrumenti određeni kao finansijski kolateral u skladu sa zakonom koji uređuje finansijsko obezbeđenje uključujući novčana sredstva i finansijske instrumente koji su založeni u skladu sa xxx zakonom ili (xi) ostala imovina xxxx xx izuzeta po osnovu zakona ili međunarodnih sporzuma.
11. OBAVEZE
Obaveze iz člana 11 (Obaveze) stupaju na snagu Datumom potpisivanja i ostaju pravosnažne i na snazi sve dokle god xx xxxx koji iznos ostao neizmiren, prema ovom Ugovoru.
11.1 Poštovanje Zakona, propisa i obaveza Zajmoprimac ima obavezu da poštuje:
(b) sve svoje obaveze koje proističu iz Projektne dokumentacije.
11.2 Odobrenja
Zajmoprimac će bez odlaganja dobiti i poštovati sva neophodna Odobrenja i učiniće sve da oni ostaju pravosnažni i na snazi, koja se traže u skladu sa relevantnim zakonom i propisima kako bi se omogućilo ispunjenje obaveza prema ovom Ugovoru i Projektnoj dokumentaciji i kako bi se obezbedila zakonitost, validnost, sprovodivost i prihvatljivost dokaznog sredstva ovog Ugovora i sve Projektne dokumentacije.
11.3 Projektna dokumenta
Zajmoprimac će, preko Ministarstva građevinarstva, saobraćaja i infrastrukture (MGSI), Sufinansijeru u ime Zajmodavca za potrebe dobijanja saglasnosti ili informacija, zavisno od slučaja, obezbediti primerak bilo kog Projektnog dokumenta ili izmena i dopuna i neće vršiti nikakve (niti će se saglasiti) suštinske izmene i dopune bilo kog Projektnog dokumenta bez dobijanja prethodne saglasnosti Sufinansijera.
11.4 Implementacija i održavanje Projekta Zajmoprimac će, preko MGSI:
11.5 Nabavka
Po pitanju nabavki, Zajmoprimac će poštovati i sprovoditi sve relevantne Procedure nabavke prilikom dodele i realizacije ugovora sklopljenih u vezi sa Projektom.
Zajmoprimac će preduzeti sve neophodne mere i korake u cilju efikasne implementacije Primenjivih procedura nabavke.
Zajmoprimac, preko MGSI, se obavezuje da će:
(iii) U slučaju ugovora za koje je potrebna naknadna revizija, uključiti u projektni zadatak za reviziju iz člana 3.4.3 (h) (Kontrola – Revizija) analizu kontrola i operativnih procedura Zajmoprimca koje se odnose na poštovanje zahteva AFD-a po pitanju finansijske podobnosti u smislu Liste finansijskih sankcija;
Pored Relevantnih procedura nabavke, učiniće da Izjava o integritetu AFD-a data u Prilogu 7 (Izjava o integritetu AFD-a), bude obavezujući dokument za sve Izvođače uključene u nekonkurentne postupke nabavki.
11.6 Odgovornost u oblasti životne sredine i socijalnih pitanja
11.6.1 Implementacija mera iz oblasti životne sredine i socijalnih pitanja
U cilju promovisanja održivog razvoja, Strane su saglasne da je neophodno promovisati poštovanje međunarodno priznatih standarda u oblasti životne sredine i rada, uključujući i fundamentalne konvencije Međunarodne organizacije rada (“MOR”) i međunarodne zakone i propise koji se odnose na životnu sredinu, a koji su primenjivi u jurisdikciji Zajmoprimac. U tu svrhu, Zajmoprimac će:
po pitanju svojih poslovnih aktivnosti:
po pitanju Projekta:
(e) dostaviti Zajmodavcu preko Sufinansijera godišnje izveštaje o praćenju po pitanju ESCP-a.
11.6.2 Upravljanje žalbama iz oblasti životne sredine i socijalnih pitanja (ES)
11.7 Dodatno finansiranje
Zajmoprimac neće unositi izmene i dopune, niti menjati Plan finansiranja bez prethodnog pisanog odobrenja Zajmodavca i finansiraće i sve dodatne troškove koji nisu anticipirani u Planu finansiranja pod uslovima koji će osigurati da xx Xxxxxx biti otplaćen.
11.8 Rangiranje po principu pari passu
Zajmoprimac se obavezuje (i) da će obezbediti da se njegove obaveze po osnovu ovog Ugovora o kreditu rangiraju najmanje pari passu sa svim ostalim sadašnjim i budućim neobezbeđenim i nepodređenim obavezama plaćanja; (ii) xx xxxx obezbediti status prioritetnog duga ili garancije bilo kom drugom Zajmodavcu, osim ako su isto rangiranje ili
garancije obezbeđeni xx xxxxxx Zajmoprimca u korist Zajmodavca, ukoliko tako zahteva Zajmodavac.
11.9 Namenski račun
Zajmoprimac će otvoriti, održavati i finansirati Namenski račun, u skladu sa odredbama i uslovima iz ovog Ugovora.
11.10 Kontrole
Zajmoprimac ovim ovlašćuje Zajmodavca i njegove predstavnike da sprovode kontrole, sa ciljem procene implementacije i funkcionisanja Projekta, kao i uticaja i postignuća ciljeva Projekta.
Zajmoprimac će sarađivati i pružiti svu razumnu pomoć i informacije Xxxxxxxxxx i njegovim predstavnicima tokom sprovođenja kontrola, čije će vreme održavanja i format utvrditi Zajmodavac, nakon obavljenih konsultacija sa Zajmoprimcem.
Zajmoprimac će zadržati i staviti Zajmodavcu na raspolaganje za potrebe kontrole sva dokumenta koja se odnose na Dozvoljene rashode za period od deset (10) xxxxxx xx datuma poslednjeg Povlačenja sredstava po Kreditu.
11.11 Evaluacija projekta
Zajmoprimac je saglasan da Zajmodavac može da sprovede ili obezbedi da treća strana u njegovo ime sprovede evaluaciju Projekta. Saznanja dobijena xxx evaluacijom koristiće se za izradu rezimea koji će sadržati Projektne informacije, kao što su: ukupan iznos i trajanje finansiranja, ciljevi Projekta, očekivani i postignuti kvantifikovani rezultati Projekta, ocena relevantnosti, uspešnosti, uticaja i izvodljivosti/održivosti Projekta, glavni zaključci i preporuke.
Glavi cilj evaluacije je definisanje kredibilnog i nezavisnog suda o ključnim pitanjima relevantnosti, implementacije (efikasnosti) i rezultata (uspešnosti, efekata i održivosti).
Evaluatori će morati da uzmu u obzir i izbalansiraju različita mišljenja koja mogu biti iskazana i sprovesti nepristrasnu evaluaciju.
Zajmoprimac će biti uključen, u što većoj mogućoj meri, u evaluaciju od izrade nacrta Projektnog zadatka do isporuke finalnog izveštaja.
Zajmoprimac je saglasan da će objaviti rezime, i to posebno na veb stranici Zajmodavca.
11.12 Implementacija Projekta
Zajmoprimac:
11.13 Poreklo sredstava, bez Koruptivnih radnji, prevara i nelojalne konkurencije Zajmoprimac se obavezuje da će: