INFORMACIJA
INFORMACIJA
o zaključenju Ugovora o finansiranju između Crne Xxxx i Evropske investicione banke (EIB), za realizaciju projekta „Program rekonstrukcije magistralnih puteva“
Nakon što je Odbor direktora Evropske investicione banke (EIB), odobrio izdavanje kredita Crnoj Gori za finansiranje Projekta „Program rekonstrukcije magistralnih puteva“, Evropska investiciona banka (EIB) dostavila je nacrt Ugovora o finansiranju radi usaglašavanja teksta sa predstavnicima Ministarstva finansija i Ministarstva saobraćaja i pomorstva.
U cilju realizacije Projekta, xx xxxxxx Odbora direktora Evropske investicione banke, odobren je iznos kredita od 80 miliona xxxx, od xxxx xx prvi dio odobrenog kredita iznositi 40 miliona xxxx i za njega biti zaključen Xxxxxx o finansiranju, koji je predmet ove informacije. U skladu sa xxx, Ministarstvo finansija predvidjelo je ovo zaduženje Zakonom o budžetu za 2018. godinu (Sl.list CG br. 55/ 2018).
Ciljevi Projekta su: (i) poboljšanje odabranih dionica puta kako bi se obezbijedio odgovarajući kapacitet, radi smanjenja gužvi i povećao nivo usluga; (ii) obnova starih kolovoza do stanja većeg kapaciteta nosivosti koji se mogu održavati normalnim rutinskim operacijama održavanja.
Ukupan procijenjeni trošak projekta iznosi 185 miliona xxxx. Sredstva za realizaciju navedenog projekta većim dijelom xxxx obezbijeđena iz sredstava međunarodnih finansijskih insititucija:
Izvor | Iznos (xxxx) |
Kredit od Evropske investicione banke (EIB) | 80,000,000.00 |
Grant od ERI | 1,500,000.00 |
Zajam od Evropske banke za obnovu i razvoj (EBRD) | 40,000,000.00 |
Grant od EBRD | 1,000,000.00 |
Sopstvena sredstva /ostali izvori | 66,500,000.00 |
UKUPNO | 185,000,000.00 |
U cilju realizacije Projekta, Ministarstvo finansija i Evropska banka za obnovu i razvoj (EBRD), zaključili su, u decembru 2017.godine, kreditni aranžman u iznosu od 40 miliona xxxx.
Projekat obuhvata rekonstrukciju i unapređenje pet programa mreže magistralnih puteve Crne Xxxx, xx kojih će se, u okviru prvog Ugovora o finansiranju u vrijednosti od 40 miliona xxxx, realizovati sledeći projekti:
1. Rekonstrukcija puta M-8 Pljevlja – Mihajlovica u dužini od 10 km, obuhvata rekonstrukciju i sanaciju cjelokupne dionice između Pljevalja i Mihajlovice na granici sa Srbijom. Rok za izvođenje xxxxxx xx 12 mjeseci a planirani period realizacije ovog projekta je 2019-2020. xxxxxx.
2. Rekonstrukcija puta M-2.1 Xxxxxx most-Dobrakovo- Bijelo Polje u dužini od 14,6 km, obuhvata rehabilitaciju i rekonstrukciju dionice puta uključujući izgradnju treće trake u dužini od 1,7 km između Barskog mosta i Dobrakova, kao i rehabilitaciju i rekonstrukciju dionice puta uključujući izgradnju treće trake u dužini od 1,5 km između Dobrakova i Bijelog Polja. Rok za izvođenje xxxxxx xx 24 mjeseca a planirani period realizacije ovog projekta je 2019-2021. godine.
3. Rekonstrukcija puta M-2 Berane-tunel Lokve-Rožaje u dužini od 30,9 km, obuhvata rehabilitaciju i rekonstrukciju dionice puta uključujući rekonstrukciju nekoliko mostova, tunela i izgradnju treće trake u dužini od 2,5 kilometra između Berana i ulaza u tunel Lokve, kao i rehabilitaciju i rekonstrukciju dionice puta uključujući rekonstrukciju nekoliko mostova i tunela između izlaza tunela Lokve i Rožaja. Rok za izvođenje xxxxxx xx 24 mjeseca a planirani period realizacije ovog projekta je 2020-2021. godine.
4. Rekonstrukcija puta M-2 Lepenac-Ribarevine-Poda-Berane u dužini od 39,8 km, obuhvata rehabilitaciju i rekonstrukciju dionice puta uključujući rekonstrukciju nekoliko mostova između Lepenca, Ribarevine i Poda, kao i rehabilitaciju i rekonstrukciju dionice puta uključujući rekonstrukciju nekoliko mostova i tunela između Poda i Berana. Rok za izvođenje xxxxxx xx 24 mjeseca a planirani period realizacije ovog projekta je 2019-2021. godine.
5. Rekonstrukcija puta M-2 Kamenovo-Petrovac-Bar u dužini od 23,3 km, obuhvata rehabilitaciju i rekonstrukciju dionice puta uključujući rekonstrukciju nekoliko mostova između Kamenova i Petrovca, kao i rehabilitaciju i rekonstrukciju dionice puta uključujući rekonstrukciju nekoliko mostova između Petrovca i Bara. Rok za izvođenje xxxxxx xx 18 mjeseci a planirani period realizacije ovog projekta je 2019-2021.godine.
Za sve pomenute projekte, radovi će obuhvatati:
Proširenje poprečnog presjeka puta (širina i broj traka, kao i proširenje bankina i ivičnjaka), izgradnja trećih traka, korekcija trase i profila za poboljšanje brzine, radijusa okretanja, zaustavljanja i daljine vidljivosti priključaka;
rehabilitaciju ili rekonstrukciju mostova i tunela;
izgradnju novih i rekonstrukciju oštećenih propusta, kao i potpornih i obložnih zidova;
izgradnju nove i rekonstrukciju drenaže i ispusta cijevi i zaobljenih rampi nadvišenja za poplave;
rehabilitaciju xxxxxx, rehabilitaciju i zaštitu usjeka i zasjeka;
unapređenje kapaciteta nosivosti temelja i rehabilitaciju i zaštita nasipa;
zamjenu kolovoznih / oštećenih slojeva asfalta;
postavljanje ili obnavljanje saobraćajne signalizacije i opreme (horizontalna i vertikalna signalizacija, kolobrani, odbojne ograde, ogledala, mačije oči u tunelu i ostalo).
Realizacija projekta očekuje se u periodu 2019 - 2022. godine.
U skladu sa nacrtom Ugovora o finansiranju sa Evropskom investicionom bankom (EIB), sredstva će biti isplaćena u osam tranši. Iznos svake tranše, ukoliko to nije nepovučeni saldo kredita, xxxx minimum 5 miliona xxxx.
Visina kamatne stope će se odrediti prilikom povlačenja sredstava, i može biti utvrđena kao fiksna ili varijabilna xxxxx, xxxx će činiti EURIBOR + margina. Visina kamatne stope zavisiće od situacije na međunarodnom tržištu u momentu povlačenja sredstava.
U pogledu otplate kredita, ona ne može biti duža od 20 xxxxxx xx xxxx povlačenja sredstava, dok grace period ne može biti duži od 5 xxxxxx, xx momenta povlačenja.
DRAFT No. 1 dated September 27, 2018 Subject to review, comments and approval by EIB management and other internal bodies and further due diligence exercise by the EIB. Without commitment for EIB. EIB Internal Classification Level: Corporate Use | |
Contract Number (FI N°) 87624 | |
Operation Number (Serapis N°) 2017-0211 |
MAIN ROADS REHABILITATION PROGRAM
Finance Contract
between
Montenegro
and
European Investment Bank
[Location], [Date]
1.2.C DISBURSEMENT ACCEPTANCE 22
1.3 CURRENCY OF DISBURSEMENT 23
1.4 CONDITIONS OF DISBURSEMENT 23
1.4.A CONDITION PRECEDENT TO THE FIRST REQUEST FOR DISBURSEMENT OFFER 23
1.4.D ADDITIONAL CONDITIONS PRECEDENT 25
1.5 DEFERMENT OF DISBURSEMENT 25
1.5.A GROUNDS FOR DEFERMENT 25
1.5.B CANCELLATION OF A DISBURSEMENT DEFERRED BY 6 (SIX) MONTHS 26
1.6 CANCELLATION AND SUSPENSION 26
1.6.A BORROWER’S RIGHT TO CANCEL 26
1.6.B BANK’S RIGHT TO SUSPEND AND CANCEL 27
1.6.C INDEMNITY FOR SUSPENSION AND CANCELLATION OF A TRANCHE 27
1.7 CANCELLATION AFTER FINAL AVAILABILITY DATE 27
1.8 SUMS DUE UNDER ARTICLE 1.5 AND 1.6 27
2.2 CURRENCY OF REPAYMENT, INTEREST AND OTHER CHARGES 28
2.3 CONFIRMATION BY THE BANK 28
3.1.B FLOATING RATE TRANCHES 28
3.1.C REVISION OR CONVERSION OF TRANCHES 29
3.2 INTEREST ON OVERDUE SUMS 29
3.3 MARKET DISRUPTION EVENT 29
4.1.A REPAYMENT BY INSTALMENTS 30
5.2 TIME AND PLACE OF PAYMENT 33
5.3 NO SET-OFF BY THE BORROWER 34
5.4 DISRUPTION TO PAYMENT SYSTEMS 34
5.5 APPLICATION OF SUMS RECEIVED 34
5.5.C ALLOCATION OF SUMS RELATED TO TRANCHES 34
6.1 USE OF LOAN AND AVAILABILITY OF OTHER FUNDS 35
6.3 INCREASED COST OF PROJECT 35
6.5 CONTINUING PROJECT UNDERTAKINGS 35
6.6 IMPLEMENTATION OF THE PROJECT AND RESETTLEMENT 36
6.7 PROJECT IMPLEMENTATION UNIT 36
6.11 GENERAL REPRESENTATIONS AND WARRANTIES 37
8.1 INFORMATION CONCERNING THE PROJECT 39
8.2 INFORMATION CONCERNING THE BORROWER 40
8.3 VISITS, RIGHT OF ACCESS AND INVESTIGATION 41
9.3 INCREASED COSTS, INDEMNITY AND SET-OFF 42
10.1 RIGHT TO DEMAND REPAYMENT 42
10.1.B DEMAND AFTER NOTICE TO REMEDY 43
10.3.B FLOATING RATE TRANCHES 44
12.1.C NOTIFICATION OF COMMUNICATION DETAILS 47
12.3 RECITALS AND SCHEDULES 47
THIS CONTRACT IS MADE BETWEEN:
Montenegro, represented by the Minister of Finance, [], on behalf of the Government as the representative of Montenegro, | (the "Borrower") |
of the first part, and | |
The European Investment Bank having its seat at 000 xxxx Xxxxxx Xxxxxxxx, Xxxxxxxxxx, X-0000 Xxxxxxxxxx, represented by | (the "Bank") |
of the second part. |
WHEREAS:
(a) The Borrower has stated that, through The Ministry of Transport of Montenegro (the "Promoter") it is undertaking a project of rehabilitation and improvement of about 180 km of main roads in Montenegro as more particularly described in the technical description (the "Technical Description") set out in 0 (the "Project").
Source | Amount (EUR m) |
Credit from the Bank | 80,000,000.00 |
XXX Xxxxx | 1,500,000.00 |
Loan from European Bank for Reconstruction and Development (“EBRD”) | 40,000,000.00 |
Grant from EBRD | 1,000,000.00 |
Own funds/other sources | 66,500,000.00 |
TOTAL | 185,000,000.00 |
(c) In order to fulfil the financing plan set out in Recital (b), the Borrower has requested from the Bank a credit of EUR 80,000,000.00 (eighty million euros) (the “Approved Credit”) to be made available from the Bank's own resources and pursuant to the Bank’s 2014-2020 external lending mandate in accordance with the Decision (the “Mandate”).
(d) The Borrower has requested from the Bank the first portion of the Approved Credit in an amount of EUR 40,000,000.00 (forty million euros) under the terms and conditions of this Finance Contract (the "Contract").
(e) In accordance with: (i) Decision No. 466/2014/EU, published in the Official Journal of the European Union No L 135 of 8 May 2014, the European Parliament and the Council of the European Union decided to grant a guarantee to the Bank against losses under financing operations supporting investment projects outside the European Union (the “Decision”); and (ii) the agreement entered into between the European Union, represented by the European Commission, and the Bank implementing the Decision, in the event of non-payment, the European Union, by a guarantee, covers certain payments not received by the Bank and due to the Bank in relation to the Bank’s financing operations entered into with, inter alios, the Borrower (the “EU Guarantee”). As of the date of this Contract, Montenegro is an Eligible Country (as defined below).
(f) On 17/22 May 2007, Montenegro and the Bank signed a framework agreement governing the Bank’s activities in the territory of Montenegro (the “Framework Agreement”). The Bank makes the Credit (as defined below) available on the basis that the Framework Agreement continues to be in full force and effect during the term of this Contract.
(g) By signing this Contract, the Borrower gives its formal consent in accordance with Article [] of the Framework Agreement to the loan financing to be provided hereunder falling within the scope of the Framework Agreement.
(i) The Borrower has authorised the borrowing of the sum of EUR 40,000,000.00 (forty million euros) represented by this credit on the terms and conditions set out in this Contract.
(j) The Statute of the Bank provides that the Bank shall ensure that its funds are used as rationally as possible in the interests of the European Union; and, accordingly, the terms and conditions of the Bank's loan operations must be consistent with relevant policies of the European Union.
(k) The Bank considers that access to information plays an essential role in the reduction of environmental and social risks, including human rights violations, linked to the projects it finances and has therefore established its transparency policy, the purpose of which is to enhance the accountability of the Bank’s group towards its stakeholders.
(l) The processing of personal data shall be carried out by the Bank in accordance with applicable European Union legislation on the protection of individuals with regard to the processing of personal data by the European Union institutions and bodies and on the free movement of such data.
NOW THEREFORE it is hereby agreed as follows:
INTERPRETATION AND DEFINITIONS
Interpretation
In this Contract:
( ) references to Articles, Recitals, Schedules and Annexes are, save if explicitly stipulated otherwise, references respectively to articles of, and recitals, schedules and annexes to this Contract;
(a) references to "law" or "laws" mean:
any applicable law and any applicable treaty, constitution, statute, legislation, decree, normative act, rule, regulation, judgement, order, writ, injunction, determination, award or other legislative or administrative measure or judicial or arbitral decision in any jurisdiction which is binding or applicable case law; and
EU Law;
(b) references to "applicable law", "applicable laws" or "applicable jurisdiction" means:
a law or jurisdiction applicable to the Borrower, its rights and/or obligations (in each case arising out of or in connection with this Contract), its capacity and/or assets and/or the Project; and/or, as applicable; or
a law or jurisdiction (including in each case the Bank’s Statute) applicable to the Bank, its rights, obligations, capacity and/or assets;
(c) references to a provision of law are references to that provision as amended or re- enacted;
(d) references to any other agreement or instrument are references to that other agreement or instrument as amended, novated, supplemented, extended or restated; and
(e) words and expressions in plural shall include singular and vice versa.
Definitions
In this Contract:
"Accepted Tranche" means a Tranche in respect of which a Disbursement Offer has been duly accepted by the Borrower in accordance with its terms on or before the Disbursement Acceptance Deadline.
"Agreed Deferred Disbursement Date" has the meaning given to it in Article 1.5.A(2)0.
"Authorisation" means an authorisation, permit, consent, approval, resolution, licence, exemption, filing, notarisation or registration.
"Authorised Signatory" means a person authorised to sign individually or jointly (as the case may be) Disbursement Acceptances on behalf of the Borrower and named in the most recent List of Authorised Signatories and Accounts received by the Bank prior to the receipt of the relevant Disbursement Acceptance.
"Business Day" means a day (other than a Saturday or Sunday) on which the Bank and commercial banks are open for general business in Luxembourg.
"Change-of-Law Event" has the meaning given to it in Article 4.3.A(3).
“Competent Authority for the Environment” means the governmental entity responsible for enforcing the environmental impact assessment (EIA) legislation in Montenegro, including issuance of Environmental Approvals, namely the Ministry of Sustainable Development and Tourism or its legal successor.
"Contract" has the meaning given to it in Recital (h).
"Contract Number" shall mean the Bank generated number identifying this Contract and indicated on the cover page of this Contract after the letters "FI N°".
"Credit" has the meaning given to it in Article 1.1.
"Deferment Indemnity" means a fee calculated on the amount of disbursement deferred or suspended being the higher of:
0.125% (12.5 basis points), per annum, and the percentage rate by which:
the interest rate that would have been applicable to such amount had it been disbursed to the Borrower on the Scheduled Disbursement Date, exceeds
EURIBOR (one month rate) less 0.125% (12.5 basis points), unless this value is less than zero, in which case it will be set at zero.
Such fee shall accrue from the Scheduled Disbursement Date to the Disbursement Date or, as the case may be, until the date of cancellation of the Accepted Tranche in accordance with this Contract.
"Disbursement Acceptance" means a copy of the Disbursement Offer duly countersigned by the Borrower.
"Disbursement Acceptance Deadline" means the date and time of expiry of a Disbursement Offer as specified therein.
"Disbursement Account" means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.
"Disbursement Date" means the date on which disbursement of a Tranche is made by the Bank.
"Disbursement Offer" means a letter substantially in the form set out in Schedule 0. "Dispute" has the meaning given to it in Article 11.2.
"Disruption Event" means either or both of:
a material disruption to those payment or communications systems or to those financial markets which are, in each case, required to operate in order for payments to be made in connection with this Contract; or
the occurrence of any other event which results in a disruption (of a technical or systems-related nature) to the treasury or payments operations of either the Bank or the Borrower, preventing that party from:
performing its payment obligations under this Contract; or communicating with other parties,
and which disruption (in either such case as per (a) or (b) above) is not caused by, and is beyond the control of, the party whose operations are disrupted.
“EIB Statement of Environmental and Social Principles and Standards” means the statement published on EIB’s website that outlines the standards that the Bank requires of the projects that it finances and the responsibilities of the various parties.
"Eligible Country" means any country specified in Xxxxx XXX to the Decision, as may be amended from time to time by the European Commission in accordance with Articles 4(2) and 18 of the Decision, or any other country in respect of which the European Parliament and the Council of the European Union have adopted a decision pursuant to Article 4(1) of the Decision.
"Eligible Expenditure" means the total expenditure (including costs of design and supervision, if relevant, and net of taxes and duties payable by the Borrower) incurred by the Borrower for the Project, in respect of works, goods and services relating to Schemes specified in the Technical Description as eligible for financing under the Credit, which have been the object of contract or contracts executed on terms satisfactory to the Bank, having regard to the most recent edition of the Bank's Guide to Procurement, as published on its website. For the purpose of calculating the equivalent in euro of any sum spent in another
currency, the Bank shall apply the reference exchange rate computed and published for that currency by the European Central Bank on such date falling within 15 (fifteen) days before the date of disbursement as the Bank shall decide (or, failing such a rate, the relevant exchange rate or rates then prevailing on any financial market reasonably chosen by the Bank).
"Environment" means the following, in so far as they affect human health and social well- being:
(a) fauna and flora;
(b) soil, water, air, climate and the landscape;
(c) cultural heritage; and
(d) the built environment.
"Environmental and Social Impact Assessment Study" or “ESIA” means a study as an outcome of the environmental and social impact assessment identifying and assessing the potential environmental and social impacts associated with the proposed project and recommending measures to avoid, minimise and/or remedy any impacts. This study shall be compliant with Environmental and Social Standards.
"Environmental and Social Documents" means (a) any or all of the ESIAs; (b) any or all of the Environmental Approvals; (c) any or all of the RPFs; (d) any or all of the ESMPs; and (e) any or all of the RAPs.
“Environmental and Social Management Plan” or “ESMP” means a document, to be included in works tender documents as appropriate, that describes the measures, responsibilities and performance indicators for achieving the Environmental and Social Standards during construction of the Schemes.
"Environmental and Social Standards" means:
(a) Environmental Laws and Social Laws applicable to the Project, the Borrower and the Promoter;
(b) the EIB Statement of Environmental and Social Principles and Standards;
(c) the Environmental and Social Documents.
"Environmental Approval" means any permit, licence, authorisation, consent or other approval required by an Environmental Law or a Social Law in connection with the construction or operation of the Project.
"Environmental or Social Claim" means any claim, proceeding, formal notice or investigation by any person in respect of the Environment or Social Matters affecting the Project including any breach or alleged breach of any Environmental and Social Standard.
"Environmental Law" means:
EU Law, including principles and standards save for any derogation accepted by the Bank for the purpose of this Contract based on any agreement between Montenegro and the EU;
Montenegro laws and regulations; and
international treaties and conventions signed and ratified by or otherwise applicable and binding on Montenegro,
in each case of which a principal objective is the preservation, protection or improvement of the Environment.
"EU Guarantee" has the meaning given to it in Recital (e).
"EU Law" means the acquis communautaire of the European Union as expressed through the Treaties of the European Union, the regulations, directives, delegated acts, implementing acts, and the case law of the Court of Justice of the European Union.
"EUR" or "euro" means the lawful currency of the Member States of the European Union which adopt or have adopted it as their currency in accordance with the relevant provisions
of the Treaty on European Union and the Treaty on the Functioning of the European Union or their succeeding treaties.
"EURIBOR" has the meaning given to it in 0.
"Event of Default" means any of the circumstances, events or occurrences specified in Article 10.1.
"Final Availability Date" means the date falling [5 (five]) years following the date of this Contract.
"Financing of Terrorism" means the provision or collection of funds, by any means, directly or indirectly, with the intention that they should be used or in the knowledge that they are to be used, in full or in part, in order to carry out any of the offences within the meaning of Articles 1 to 4 of the EU Council Framework Decision 2002/475/XXX of 13 June 2002 on combating terrorism.
"Fixed Rate" means an annual interest rate determined by the Bank in accordance with the applicable principles from time to time laid down by the governing bodies of the Bank for loans made at a fixed rate of interest, denominated in the currency of the Tranche and bearing equivalent terms for the repayment of capital and the payment of interest. Such rate shall not be of negative value.
"Fixed Rate Tranche" means a Tranche on which the Fixed Rate is applied.
"Floating Rate" means a fixed-spread floating annual interest rate, determined by the Bank for each successive Floating Rate Reference Period equal to EURIBOR plus the Spread. If the Floating Rate for any Floating Rate Reference Period is calculated to be below zero, it will be set at zero.
"Floating Rate Reference Period" means each period from one Payment Date to the next relevant Payment Date; the first Floating Rate Reference Period shall commence on the date of disbursement of the Tranche.
"Floating Rate Tranche" means a Tranche on which the Floating Rate is applied. "Framework Agreement" has the meaning given in Recital (f).
"GAAP" means generally accepted accounting principles in Montenegro including IFRS.
"Guide to Procurement" means the Guide to Procurement published on EIB’s website that informs the promoters of projects financed in whole or in part by the EIB of the arrangements to be made for procuring works, goods and services required for the Project.
"IFRS" means international accounting standards within the meaning of IAS Regulation 1606/2002 to the extent applicable to the relevant financial statements.
"ILO" means the International Labour Organisation.
"ILO Standards" means any treaty, convention or covenant of the ILO signed and ratified by or otherwise applicable and binding on the Montenegro, and the Core Labour Standards (as defined in the ILO Declaration on Fundamental Principles and Rights at Work).
"Indemnifiable Prepayment Event" means a Prepayment Event other than those specified in paragraphs 4.3.A(2) () or 4.3.A(4) ().
"Interest Revision/Conversion" means the determination of new financial conditions relative to the interest rate, specifically the same interest rate basis ("revision") or a different interest rate basis ("conversion") which can be offered for the remaining term of a Tranche or until the next Interest Revision/Conversion Date.
"Interest Revision/Conversion Date" means the date, which shall be a Payment Date, specified by the Bank pursuant to Article 1.2.C in the Disbursement Offer.
"Interest Revision/Conversion Proposal" means a proposal made by the Bank under 0.
"Interest Revision/Conversion Request" means a written notice from the Borrower, delivered at least 75 (seventy-five) days before an Interest Revision/Conversion Date, requesting the Bank to submit to it an Interest Revision/Conversion Proposal. The Interest Revision/Conversion Request shall also specify:
the Payment Dates chosen in accordance with the provisions of Article 3.1;
"List of Authorised Signatories and Accounts" means a list, in form and substance satisfactory to the Bank, setting out:
(a) the Authorised Signatories, accompanied by evidence of signing authority of the persons named on the list and specifying if they have individual or joint signing authority;
(b) the specimen signatures of such persons; and
(c) the bank account(s) to which disbursements may be made under this Contract (specified by IBAN code if the country is included in the IBAN Registry published by SWIFT, or in the appropriate account format in line with the local banking practice), BIC/SWIFT code of the bank and the name of the bank account(s) beneficiary.
"Loan" means the aggregate of the amounts disbursed from time to time by the Bank under this Contract.
"Loan Outstanding" means the aggregate of the amounts disbursed from time to time by the Bank under this Contract that remains outstanding.
"Mandate" has the meaning given in Recital (c).
"Market Disruption Event" means any of the following circumstances:
there are, in the reasonable opinion of the Bank, events or circumstances adversely affecting the Bank’s access to its sources of funding;
in the opinion of the Bank, funds are not available from the Bank's ordinary sources of funding in order to adequately fund a Tranche in the relevant currency and/or for the relevant maturity and/or in relation to the reimbursement profile of such Tranche; or
in relation to a Tranche in respect of which interest would be payable at Floating Rate:
the cost to the Bank of obtaining funds from its sources of funding, as determined by the Bank, for a period equal to the Floating Rate Reference Period of such Tranche (i.e. in the money market) would be in excess of EURIBOR ; or
"Material Adverse Change" means, any event or change of condition, which, in the opinion of the Bank, has a material adverse effect on:
(a) the ability of the Borrower to perform its obligations under this Contract;
(b) the business, operations, property, condition (financial or otherwise) or prospects of the Borrower; and
(c) the legality, validity or enforceability of, or the effectiveness or ranking of, or the value of any Security granted to the Bank, or the rights or remedies of the Bank under this Contract.
"Maturity Date" means the last Repayment Date of a Tranche specified pursuant to Article 4.1.A(b)(iv) or sole Repayment Date of a Tranche specified pursuant to Article 4.1.B.
"Money Laundering" means:
(a) the conversion or transfer of property, knowing that such property is derived from criminal activity or from an act of participation in such activity, for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in the commission of such activity to evade the legal consequences of his action;
(b) the concealment or disguise of the true nature, source, location, disposition, movement, rights with respect to, or ownership of property, knowing that such property is derived from criminal activity or from an act of participation in such activity;
(c) the acquisition, possession or use of property, knowing, at the time of receipt, that such property was derived from criminal activity or from an act of participation in such activity; or
(d) participation in, association to commit, attempts to commit and aiding, abetting, facilitating and counselling the commission of any of the actions mentioned in the foregoing points.
"Payment Date" means: the annual, semi-annual or quarterly dates specified in the Disbursement Offer until and including the Interest Revision/Conversion Date, if any, or the Maturity Date, save that, in case any such date is not a Relevant Business Day, it means:
(a) for a Fixed Rate Tranche, the following Relevant Business Day, without adjustment to the interest due under Article 3.1; except for those cases where a payment is made:
(i) in full and in relation to the Interest Revision/Conversion in accordance with 0, point C; or
(ii) as single instalment in accordance with Article 4.1.B, and to the final interest payment only, when it shall mean the preceding Relevant Business Day with adjustment to the interest due under Article 3.1; and
"Prepayment Amount" means the amount of a Tranche to be prepaid by the Borrower in accordance with Article 4.2.A or Article 4.3.A, as applicable.
"Prepayment Date" means the date, which shall be a Payment Date, on which the Borrower proposes to or is requested by the Bank, as applicable, to effect prepayment of a Prepayment Amount.
"Prepayment Event" means any of the events described in Article 4.3.A.
"Prepayment Indemnity" means in respect of any principal amount to be prepaid or cancelled, the amount communicated by the Bank to the Borrower as the present value (calculated as of the Prepayment Date or the date of cancellation pursuant to Article 1.6.C(2)) of the excess, if any, of:
(a) the interest that would accrue thereafter on the Prepayment Amount over the period from the Prepayment Date or the date of cancellation pursuant to Article 1.6.C(2) to the Interest Revision/Conversion Date, if any, or the Maturity Date, if it were not prepaid; over
(b) the interest that would so accrue over that period, if it were calculated at the Redeployment Rate, less 0.15% (fifteen basis points).
The said present value shall be calculated at a discount rate equal to the Redeployment Rate, applied as of each relevant Payment Date.
"Prepayment Notice" means a written notice from the Bank to the Borrower in accordance with Article 4.2.C.
"Prepayment Request" means a written request from the Borrower to the Bank to prepay all or part of the Loan Outstanding, in accordance with Article 4.2.A.
"Prohibited Conduct" means any Financing of Terrorism, Money Laundering or Prohibited Practice.
"Prohibited Practice" means any:
(a) Coercive Practice, meaning the impairing or harming, or threatening to impair or harm, directly or indirectly, any party or the property of a party to influence improperly the actions of a party;
(b) Collusive Practice, meaning an arrangement between two or more parties designed to achieve an improper purpose, including to influence improperly the actions of another party;
(c) Corrupt Practice, meaning the offering, giving, receiving or soliciting, directly or indirectly, of anything of value by a party to influence improperly the actions of another party;
(d) Fraudulent Practice, meaning any act or omission, including a misrepresentation, that knowingly or recklessly misleads, or attempts to mislead, a party in order to obtain a financial or other benefit or to avoid an obligation; or
(e) Obstructive Practice, meaning in relation to an investigation into a Coercive, Collusive, Corrupt or Fraudulent Practice in connection with this Loan or the Project, (a) deliberately destroying, falsifying, altering or concealing of evidence material to the investigation; and/or threatening, harassing or intimidating any party to prevent it from disclosing its knowledge of matters relevant to the investigation or from pursuing the investigation, or (b) acts intending to materially impede the exercise of the contractual rights of audit or access to information.
"Project" has the meaning given to it in Recital (a).
“Project Implementation Unit” means a team of professional and support staff with the necessary administrative powers as well as physical and financial resources necessary to implement the Project.
"Promoter" has the meaning given to it in Recital (a).
"Redeployment Rate" means the fixed annual rate determined by the Bank, being a rate which the Bank would apply on the day of the indemnity calculation to a loan that has the same currency the same terms for the payment of interest and the same repayment profile to the Interest Revision/Conversion Date, if any, or the Maturity Date as the Tranche in respect of which a prepayment or cancellation is proposed or requested to be made. Such rate shall not be of negative value.
"Relevant Business Day" means a day on which the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which utilises a single shared platform and which was launched on 19 November 2007 (TARGET2) is open for the settlement of payments in EUR.
"Relevant Interbank Rate" means EURIBOR.
"Requested Deferred Disbursement Date" has the meaning given to it in Article 1.5.A(1)(b).
“Resettlement Action Plan” or “RAP” means the detailed plan, consistent with the RPF and satisfactory to the Bank, in respect of a Scheme where involuntary resettlement is required.
“Resettlement Policy Framework” or “RFP” means the policy consistent with the Environmental and Social Standards and agreed with the Bank dated [] as may be revised from time to time in agreement between the Borrower and the Bank.
“Sanction Lists” means:
(a) any economic, financial and trade restrictive measures and arms embargoes issued by the European Union pursuant to Chapter 2 of Title V of the Treaty on European Union as well as Article 215 of the Treaty on the Functioning of the European Union, including, but not limited to those, as available in the official EU websites xxxx://xx.xxxxxx.xx/xxxxxxxx_xxxxxxxxx/xxxx/xxxxxxxxx/xxxxxx-xxxx_xx.xxx and xxxx://xxxx.xxxxxx.xx/xxxx/xxxxxxxxx/xxxx/xxxxxxxx_xx.xxx, as amended and supplemented from time to time or on any successor page; or,
(b) any economic, financial and trade restrictive measures and arms embargoes issued by the United Nations Security Council pursuant to Article 41 of the UN Charter, including, but not limited to those, as available in the official UN website xxxx://xxx.xx.xxx/Xxxx/xx/xxxxxxxxxx/XXXXX.xxx, as amended and supplemented from time to time or on any successor page.
"Sanctioned Persons" means any individual or entity listed in one or more Sanction Lists.
"Scheduled Disbursement Date" means the date on which a Tranche is scheduled to be disbursed in accordance with Article 1.2.B.
"Security" means any mortgage, pledge, lien, charge, assignment, hypothecation, or other security interest securing any obligation of any person or any other agreement or arrangement having a similar effect.
“Scheme 1” means the scheme 1 of the Project that is described in the Technical Description.
“Schemes” means collectively all the schemes of the Project consisting of Scheme 1, scheme 2, scheme 3, scheme 4, and scheme 5 as each described in the Technical Description.
“Social Law” means each of:
(a) any law, rule or regulation applicable in Montenegro relating to Social Matters; (b) any ILO Standards;
(c) any United Nations treaty, convention or covenant on human rights signed and ratified by or otherwise applicable and binding on Montenegro.
"Social Matters" means all, or any of, the following: (i) labour and employment conditions,
(ii) occupational health and safety, (iii) protection and empowerment of rights and interests of indigenous peoples, ethnic minorities and vulnerable groups, (iv) cultural heritage (tangible and intangible), (v) public health, safety and security, (vi) involuntary physical resettlement and/or economic displacement and loss of livelihood of persons, and (vii) public participation and stakeholder engagement.
"Spread" means the fixed spread (being of either positive or negative value) to EURIBOR as determined by the Bank and notified to the Borrower in the relevant Disbursement Offer or in the Interest Revision/Conversion Proposal.
"Tax" means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same).
"Technical Description" has the meaning given to it in Recital (a).
ARTICLE 1
Credit and Disbursements
1.1 Amount of Credit
By this Contract the Bank establishes in favour of the Borrower, and the Borrower accepts, a credit in an amount of EUR 40,000,000.00 (forty million euros) for the financing of the Project (the "Credit").
1.2 Disbursement procedure
1.2.A Tranches
The Bank shall disburse the Credit in up to 8 (eight) Tranches. The amount of each Tranche shall be in a minimum amount of EUR 5,000,000.00 (five million euros) or (if less) the entire undrawn balance of the Credit.
1.2.B Disbursement Offer
Upon request by the Borrower (which, among others, shall specify the Scheme(s) to be financed with the proposed disbursement) and subject to Article 1.4.A, provided that no event mentioned in Article 1.5 or Article 1.6.B has occurred and is continuing, the Bank shall send to the Borrower within 5 (five) Business Days after the receipt of such request a Disbursement Offer for the disbursement of a Tranche. The latest time for receipt by the Bank of such Xxxxxxxx’x request is 15 (fifteen) Business Days before the Final Availability Date. The Disbursement Offer shall specify:
(a) the amount of the Tranche in EUR;
(b) the Scheduled Disbursement Date, which shall be a Relevant Business Day, falling at least 10 (ten) days after the date of the Disbursement Offer and on or before the Final Availability Date;
(d) the Payment Dates and the first interest Payment Date for the Tranche;
(f) the Repayment Dates and the first and the last Repayment Date for the Tranche, or the single Repayment Date;
(g) the Interest Revision/Conversion Date, if requested by the Borrower, for the Tranche;
(h) for a Fixed Rate Tranche, the Fixed Rate and for a Floating Rate Tranche the Spread, applicable until the Interest Revision/Conversion Date, if any or until the Maturity Date; and
(i) the Disbursement Acceptance Deadline.
1.2.C Disbursement Acceptance
If a Disbursement Offer is duly accepted by the Borrower in accordance with its terms on or before the Disbursement Acceptance Deadline, the Bank shall make the Accepted Tranche available to the Borrower in accordance with the relevant Disbursement Offer and subject to the terms and conditions of this Contract.
The Borrower shall be deemed to have refused any Disbursement Offer which has not been duly accepted in accordance with its terms on or before the Disbursement Acceptance Deadline.
1.2.D Disbursement Account
Disbursement shall be made to the Disbursement Account specified in the relevant Disbursement Acceptance provided that such Disbursement Account is acceptable to the Bank.
Notwithstanding Article 5.2(e), the Borrower acknowledges that payments to a Disbursement Account notified by the Borrower shall constitute disbursements under this Contract as if they had been made to the Borrower's own bank account.
Only one Disbursement Account may be specified for each Tranche.
1.3 Currency of disbursement
The Bank shall disburse each Tranche in EUR.
1.4 Conditions of disbursement
1.4.A Condition precedent to the first request for Disbursement Offer
The Bank shall have received from the Borrower in form and substance satisfactory to the Bank:
(a) evidence that the execution of this Contract by the Borrower has been duly authorised and that the person or persons signing this Contract on behalf of the Borrower is/are duly authorised to do so together with the specimen signature of each such person or persons; and
(b) the List of Authorised Signatories and Accounts;
prior to requesting a Disbursement Offer under Article 1.2.B by the Borrower. Any request for a Disbursement Offer made by the Borrower without the above documents having been received by the Bank and to its satisfaction shall be deemed not made.
1.4.B First Tranche
The disbursement of the first Tranche under Article 1.2 is conditional upon receipt by the Bank, in form and substance satisfactory to it, on or before the date falling 5 (five) Business Days before the Scheduled Disbursement Date (and, in the case of deferment under Article 1.5, the Requested Deferred Disbursement Date or the Agreed Deferred Disbursement Date, respectively), of the following documents or evidence:
(a) evidence that the Borrower and the Promoter has obtained all necessary Authorisations, required in connection with this Contract and the Project;
(b) a legal opinion issued by the Protector of the property legal interests of Montenegro (Zaštitnik imovinsko pravnih interesa Crne Xxxx), confirming, among others:
(i) the conclusion of this Contract and its execution by the Minister of Finance of Montenegro has been duly authorised by a decision of the Borrower's Government;
(ii) the valid choice of Luxembourg law as the governing law of this Contract;
(iii) the valid choice of jurisdiction of the Court of Justice of the European Union under this Contract, and the recognition and enforcement of judgments of the Court of Justice of the European Union in any proceedings taken in Montenegro;
(iv) the Contract has been validly executed, is in full force and effect, valid, binding and enforceable in accordance with its terms;
(v) the financing of the Project falls within the scope of the Framework Agreement; and
(vi) no exchange control restrictions are in place or consents are required in order to permit the receipt of all amounts to be disbursed hereunder on the account mentioned in [Article 1.02D] and to permit the repayment of the Loan and the payment of interest and all other amounts due under this Contract;
(e) the Borrower shall have taken all action necessary to exempt from taxation for all payments of principal, interest and other sums due hereunder and to permit the payment of all such sums gross without deduction of tax at source shall have been taken; and
(c) evidence that all exchange control consents specified by the Bank or indicated in the legal opinion given under [paragraph (iii)] above as being necessary have been obtained to permit the Borrower to receive disbursements as provided in this Contract, to repay the Loan and to pay interest and all other amounts due hereunder.
1.4.C All Tranches
The disbursement of each Tranche under Article 1.2, including the first, is subject to the following conditions:
(a) that the Bank has received, in form and substance satisfactory to it, on or before the date falling 5 (five) Business Days before the Scheduled Disbursement Date (and, in the case of deferment under Article 1.5, the Requested Deferred Disbursement Date or the Agreed Deferred Disbursement Date, respectively) for the proposed Tranche, of the following documents or evidence:
(i) a certificate from the Borrower in the form of Schedule 0 signed by an authorised representative of the Borrower and dated no earlier than the date falling 15 (fifteen) days before the Scheduled Disbursement Date (and, in the case of deferment under Article 1.5, the Requested Deferred Disbursement Date or the Agreed Deferred Disbursement Date, respectively);
(ii) evidence demonstrating that, following drawdown of the relevant Tranche, the amount of the Loan will not exceed the aggregate Eligible Expenditure incurred or contractually committed by the Borrower in respect of the Project up to the date of the relevant Disbursement Offer;
(iii) a copy of any other authorisation or other document, opinion or assurance which the Bank has notified the Borrower is necessary or desirable in connection with the entry into and performance of, and the transactions contemplated by, this Contract or the legality, validity, binding effect or enforceability of the same;
(iv) evidence that a Project Implementation Unit and a works supervision team are in operation with terms of reference, staff, resources and technical assistance, all to the Bank’s satisfaction in particular concerning environmental and social aspects;
(v) other than the last Tranche, evidence that the Borrower or the Promoter will incur Eligible Expenditure in an amount of at least equal to the aggregate of 80% (eighty per cent) of the amount of the Tranche to be disbursed and 100% (one hundred per cent) of the amounts of all previously disbursed Tranches, within 180 (hundred and eighty) days following the Scheduled Disbursement Date of the relevant Tranche.
(b) that the Bank is satisfied that on the date of the relevant Disbursement Request and the Disbursement Date for the proposed Tranche:
(i) all facts and statements contained in the Recitals are true and correct in all respects;
(ii) the EU Guarantee is legal, valid, binding and enforceable and that no event or circumstance has occurred which could, in the opinion of the Bank, adversely affect the legal, valid, binding and enforceable nature of the EU Guarantee, its applicability to any Tranche under this Contract or the Bank's right to make a demand under the EU Guarantee;
(iii) Montenegro is an Eligible Country; and
(iv) the Framework Agreement is legal, valid, binding and enforceable and that no event or circumstance has occurred which could, in the opinion of the Bank, adversely affect the legal, valid, binding and enforceable nature of the Framework Agreement; and
(c) that on the Scheduled Disbursement Date (and, in the case of deferment under Article 1.5, on the Requested Deferred Disbursement Date or the Agreed Deferred Disbursement Date, respectively) for the proposed Tranche:
(i) the representations and warranties which are repeated pursuant to Article 6.11 are correct in all respects; and
(ii) no event or circumstance which constitutes or would with the passage of time or giving of notice under this Contract constitute:
(1) an Event of Default; or
(2) a Prepayment Event,
has occurred and is continuing unremedied or unwaived or would result from the disbursement of the proposed Tranche.
1.4.D Additional Conditions Precedent
Without prejudice to, and in addition to the conditions under, Articles 1.4.A, 1.4.B and 1.4.C above;
(a) the first disbursement of a Tranche that will be applied, in whole or part, towards the financing of the Scheme 1 is subject to the condition that the Bank has received, in form and substance satisfactory to it, on or before the date falling 5 (five) Business Days before the Scheduled Disbursement Date (and, in the case of deferment under Article 1.5, the Requested Deferred Disbursement Date or the Agreed Deferred Disbursement Date, respectively) for the proposed Tranche:
(i) a copy of the ESIA report and its non-technical summary;
(ii) evidence that the Environmental Approvals by the Competent Authority for the Environment in respect of the Project has been obtained;
(iii) evidence that the public consultation for the ESIA procedure and disclosure of the Environmental Approvals have been completed,
(b) the disbursement of any Tranche that will be applied, in whole or part, towards the financing of any of the Schemes is subject to the condition that the Bank has received, in form and substance satisfactory to it, on or before the date falling 5 (five) Business Days before the Scheduled Disbursement Date (and, in the case of deferment under Article 1.5, the Requested Deferred Disbursement Date or the Agreed Deferred Disbursement Date, respectively) for the proposed Tranche:
(i) a copy of the RAP or evidence that there is no involuntary resettlement on the scheme;
(ii) the ESMP; and
(iii) evidence that implementation of the RAP and ESMP is in accordance with the agreed schedule,
in each case, in respect of the Scheme(s) to which the Disbursement Offer relates.
1.5 Deferment of disbursement
1.5.A Grounds for deferment
The Borrower may send a written request to the Bank requesting the deferral of the disbursement of an Accepted Tranche. The written request must be received by the Bank at
least 5 (five) Business Days before the Scheduled Disbursement Date of the an Accepted Tranche and specify:
(a) whether the Borrower would like to defer the disbursement in whole or in part and if in part, the amount to be deferred; and
(b) the date until which the Borrower would like to defer a disbursement of the above amount (the “Requested Deferred Disbursement Date”), which must be a date falling not later than:
(i) 6 (six) months from its Scheduled Disbursement Date; and
(ii) 30 (thirty) days prior to the first Repayment Date; and
(iii) the Final Availability Date.
Upon receipt of such a written request, the Bank shall defer the disbursement of the relevant amount until the Requested Deferred Disbursement Date.
1.5.A(2) FAILURE TO SATISFY CONDITIONS TO DISBURSEMENT
The disbursement of an Accepted Tranche shall be deferred if any condition for disbursement of such an Accepted Tranche referred to in Article 1.4 is not fulfilled both:
(i) at the date specified for fulfilment of such condition in Article 1.4; and
(ii) at its Scheduled Disbursement Date (or, where the Scheduled Disbursement Date has been deferred previously, the date expected for disbursement).
The Bank and the Borrower shall agree the date until which the disbursement of such an Accepted Tranche shall be deferred (the "Agreed Deferred Disbursement Date"), which must be a date falling:
(i) not earlier than 7 (seven) Business Days following the fulfilment of all conditions of disbursement; and
(ii) not later than the Final Availability Date.
Without prejudice to the Bank’s right to suspend and/or cancel the undisbursed portion of the Credit in whole or in part pursuant to Article 1.6.B, the Bank shall defer disbursement of such an Accepted Tranche until the Agreed Deferred Disbursement Date.
1.5.A(3) DEFERMENT INDEMNITY
If disbursement of an Accepted Tranche is be deferred pursuant to paragraphs 1.5.A(1) or 1.5.A(2) above, the Borrower shall pay the Deferment Indemnity.
1.5.B Cancellation of a disbursement deferred by 6 (six) months
If a disbursement has been deferred by more than 6 (six) months in aggregate pursuant to Article 1.5.A, the Bank may notify the Borrower in writing that such disbursement shall be cancelled and such cancellation shall take effect on the date of such written notification. The amount of the disbursement which is cancelled by the Bank pursuant to this Article 1.5.B shall remain available for disbursement under Article 1.2.
1.6 Cancellation and suspension
1.6.A Xxxxxxxx’x right to cancel
The Borrower may send a written notice to the Bank requesting the cancellation of the undisbursed portion of the Credit. The written notice:
(a) must specify whether the Borrower would like to cancel the undisbursed portion of the Credit in whole or in part and, if in part, the amount of the Credit the Borrower would like to cancel; and
(b) must not relate to
(i) an Accepted Tranche which has a Scheduled Disbursement Date falling within 5 (five) Business Days of the date of the notice.
Upon receipt of such written notice, the Bank shall cancel the requested undisbursed portion of the Credit with immediate effect.
1.6.B Bank’s right to suspend and cancel
(a) At any time upon the occurrence of the following events, the Bank may notify the Borrower in writing that the undisbursed portion of the Credit shall be suspended and/or (apart from on the occurrence of a Market Disruption Event) cancelled in whole or in part:
(i) a Prepayment Event;
(ii) an Event of Default;
(iii) an event or circumstance which would with the passage of time or giving of notice under this Contract constitute a Prepayment Event or an Event of Default;
(iv) if Montenegro is no longer an eligible country for operations under the Mandate; or
(v) a Market Disruption Event provided the Bank has not received a Disbursement Acceptance.
(b) On the date of such written notification the relevant undisbursed portion of the Credit shall be suspended and/or cancelled with immediate effect. Any suspension shall continue until the Bank ends the suspension or cancels the suspended amount.
1.6.C Indemnity for suspension and cancellation of a Tranche
1.6.C(1) SUSPENSION
If the Bank suspends an Accepted Tranche upon the occurrence of an Indemnifiable Prepayment Event or an Event of Default, the Borrower shall pay to the Bank the Deferment Indemnity calculated on the amount of disbursement suspended.
(a) If an Accepted Tranche which is a Fixed Rate Tranche is cancelled:
(i) by the Borrower pursuant to Article 1.6.A;
(ii) by the Bank upon an Indemnifiable Prepayment Event or upon the occurrence of a Material Adverse Change or pursuant to Article 1.5.B or Article 1.6.B(iv),
the Borrower shall pay to the Bank the Prepayment Indemnity. The Prepayment Indemnity shall be calculated as if the cancelled amount had been disbursed and repaid on the Scheduled Disbursement Date or, to the extent that the disbursement of the Tranche is currently deferred or suspended, on the date of the cancellation notice.
(c) Save in the cases (a) or (b) above, no indemnity is payable upon cancellation of a Tranche.
1.7 Cancellation after Final Availability Date
On the day following the Final Availability Date, and unless otherwise specifically agreed to in writing by the Bank, any part of the Credit in respect of which no Disbursement Acceptance has been received in accordance with Article 1.2.C shall be automatically cancelled, without any notice being served by the Bank to the Borrower and without liability arising on the part of either party.
1.8 Sums due under Article 1.5 and 1.6
Sums due under Articles 1.5 and 1.6 shall be payable in EUR. Sums due under Articles 1.5 and 1.6 shall be payable within 15 (fifteen) days of the Borrower’s receipt of the Bank’s demand or within any longer period specified in the Bank’s demand.
ARTICLE 2
The Loan
2.1 Amount of Loan
2.2 Currency of repayment, interest and other charges
Interest, repayments and other charges payable in respect of each Tranche shall be made by the Borrower in the currency in which the Tranche is disbursed.
Other payment, if any, shall be made in the currency specified by the Bank having regard to the currency of the expenditure to be reimbursed by means of that payment.
2.3 Confirmation by the Bank
The Bank shall deliver to the Borrower the amortisation table referred to in Article 4.1, if appropriate, showing the Disbursement Date, currency, the amount disbursed, the repayment terms and the interest rate of and for that Tranche.
ARTICLE 3
Interest
3.1 Rate of interest
3.1.A Fixed Rate Tranches
The Borrower shall pay interest on the outstanding balance of each Fixed Rate Tranche at the Fixed Rate quarterly, semi-annually or annually in arrear on the relevant Payment Dates as specified in the Disbursement Offer, commencing on the first such Payment Date following the Disbursement Date of the Tranche. If the period from the Disbursement Date to the first Payment Date is 15 (fifteen) days or less then the payment of interest accrued during such period shall be postponed to the following Payment Date.
Interest shall be calculated on the basis of Article 5.1(a)
3.1.B Floating Rate Tranches
The Borrower shall pay interest on the outstanding balance of each Floating Rate Tranche at the Floating Rate quarterly, semi-annually or annually in arrear on the relevant Payment Dates, as specified in the Disbursement Offer commencing on the first such Payment Date following the Disbursement Date of the Tranche. If the period from the Disbursement Date to the first Payment Date is 15 (fifteen) days or less then the payment of interest accrued during such period shall be postponed to the following Payment Date.
The Bank shall notify the Borrower of the Floating Rate within 10 (ten) days following the commencement of each Floating Rate Reference Period.
If pursuant to Articles 1.5 and 1.6 disbursement of any Floating Rate Tranche takes place after the Scheduled Disbursement Date EURIBOR applicable to the first Floating Rate Reference Period shall apply as though the disbursement had been made on the Scheduled Disbursement Date.
Interest shall be calculated in respect of each Floating Rate Reference Period on the basis of Article 5.1.(b)
3.1.C Revision or Conversion of Tranches
3.2 Interest on overdue sums
Without prejudice to Article 10 and by way of exception to Article 3.1, if the Borrower fails to pay any amount payable by it under this Contract on its due date, interest shall accrue on any overdue amount payable under the terms of this Contract from the due date to the date of actual payment at an annual rate equal to:
(a) for overdue sums related to Floating Rate Tranches, the applicable Floating Rate plus 2% (200 basis points);
(b) for overdue sums related to Fixed Rate Tranches, the higher of
(i) the applicable Fixed Rate plus 2% (200 basis points);
(ii) EURIBOR plus 2% (200 basis points); and
(c) for overdue sums other than under (a) or (b) above, EURIBOR plus 2% (200 basis points),
and shall be payable in accordance with the demand of the Bank. For the purpose of determining the EURIBOR in relation to this Article 3.2, the relevant periods within the meaning of 0 shall be successive periods of one month commencing on the due date. Any unpaid but due interest may be capitalised in conformity with article 1154 of the Luxembourg Civil Code. For the avoidance of doubt, capitalisation of interest shall occur only for interest due but unpaid for a period of more than one year. The Borrower hereby agrees in advance to have the unpaid interest due for a period of more than one year compounded and that as of the capitalisation, such unpaid interest will in turn produce interest at the interest rate set out in this Article 3.2.
If the overdue sum is in a currency other than the currency of the Loan, the following rate per annum shall apply, namely the relevant interbank rate that is generally retained by the Bank for transactions in that currency plus 2% (200 basis points), calculated in accordance with the market practice for such rate.
3.3 Market Disruption Event
If at any time (i) from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and (ii) until the date falling 30 (thirty) calendar days prior to the Scheduled Disbursement Date, a Market Disruption Event occurs, the Bank may notify to the Borrower that this clause has come into effect. In such case, the following rules shall apply:
(a) The rate of interest applicable to such Accepted Tranche until the Maturity Date or the Interest Revision/Conversion Date if any, shall be the rate (expressed as a percentage rate per annum) which is determined by the Bank to be the all-inclusive cost to the Bank for the funding of the relevant Tranche based upon the then applicable internally generated Bank reference rate or an alternative rate determination method reasonably determined by the Bank.
The Borrower shall have the right to refuse in writing such disbursement within the deadline specified in the notice and shall bear charges incurred as a result, if any, in which case the Bank shall not effect the disbursement and the corresponding portion of the Credit shall remain available for disbursement under Article 1.2.B. If the Borrower does not refuse the disbursement in time, the parties agree that the disbursement and the conditions thereof shall be fully binding for both parties.
(b) The Spread or the Fixed Rate previously accepted by the Borrower in the Disbursement Offer shall no longer be applicable.
ARTICLE 4
Repayment
4.1 Normal repayment
4.1.A Repayment by instalments
(b) Each amortisation table shall be drawn up on the basis that:
(i) in the case of a Fixed Rate Tranche without an Interest Revision/Conversion Date, repayment shall be made quarterly, semi-annually or annually by equal instalments of principal or constant instalments of principal and interest;
(ii) in the case of a Fixed Rate Tranche with an Interest Revision/Conversion Date or a Floating Rate Tranche, repayment shall be made by equal quarterly, semi- annual or annual instalments of principal;
(iii) the first Repayment Date of each Tranche shall be a Payment Date falling not earlier than 30 (thirty) days from the Scheduled Disbursement Date and not later than the first Repayment Date immediately following the 5th (fifth) anniversary of the Scheduled Disbursement Date of the Tranche; and
(iv) the last Repayment Date of each Tranche shall be a Payment Date falling not earlier than 4 (four) years and not later than 20 (twenty) years from the Scheduled Disbursement Date.
4.1.B Single instalment
Alternatively, the Borrower shall repay the Tranche in a single instalment on the sole Repayment Date specified in the Disbursement Offer, being a date falling not less than 3 (three) years or more than 12 (twelve) years from the Scheduled Disbursement Date.
4.2 Voluntary prepayment
4.2.A Prepayment option
Subject to Articles 4.2.B, 4.2.C and 4.4, the Borrower may prepay all or part of any Tranche, together with accrued interest and indemnities if any, upon giving a Prepayment Request with at least 30 (thirty) calendar days' prior notice specifying:
(a) the Prepayment Amount;
(b) the Prepayment Date;
(d) the Contract Number.
The Prepayment Request shall be irrevocable.
4.2.B Prepayment indemnity
4.2.B(1) FIXED RATE TRANCHE
Subject to Article 4.2.B(3) below, if the Borrower prepays a Fixed Rate Tranche, the Borrower shall pay to the Bank on the Prepayment Date the Prepayment Indemnity in respect of the Fixed Rate Tranche which is being prepaid.
4.2.B(2) FLOATING RATE TRANCHE
Subject to Article 4.2.B(3) below, the Borrower may prepay a Floating Rate Tranche without indemnity on any relevant Payment Date.
4.2.C Prepayment mechanics
Upon presentation by the Borrower to the Bank of a Prepayment Request, the Bank shall issue a Prepayment Notice to the Borrower, not later than 15 (fifteen) days prior to the Prepayment Date. The Prepayment Notice shall specify the Prepayment Amount, the accrued interest due thereon, the Prepayment Indemnity payable under Article 4.2.B or, as the case may be, that no indemnity is due, the method of application of the Prepayment Amount and if a Prepayment Indemnity is applicable, the deadline by which the Borrower may accept the Prepayment Notice.
If the Borrower accepts the Prepayment Notice no later than by the deadline (if any) specified in the Prepayment Notice, the Borrower shall effect the prepayment. In any other case, the Borrower may not effect the prepayment.
The Borrower shall accompany the payment of the Prepayment Amount by the payment of accrued interest, the Prepayment Indemnity and the fee under Article 4.2.D, if any, due on the Prepayment Amount, as specified in the Prepayment Notice.
4.2.D Administrative Fee
If the Borrower prepays a Tranche on a date other than a relevant Payment Date, or if the Bank exceptionally accepts, solely upon the Bank’s discretion, a Prepayment Request with prior notice of less than 30 (thirty) calendar days, the Borrower shall pay to the Bank an administrative fee in such amount as the Bank shall notify to the Borrower.
4.3 Compulsory prepayment
4.3.A Prepayment Events
4.3.A(1) PROJECT COST REDUCTION
If the total cost of the Project falls below the figure stated in Recital (b) so that the amount of the Credit exceeds 50% (fifty per cent) of such total cost of the Project, the Bank may forthwith, by notice to the Borrower, cancel the undisbursed portion of the Credit and/or demand prepayment of the Loan Outstanding up to the amount by which the Credit exceeds 50% (fifty per cent) of the total cost of the Project, together with accrued interest and all other amounts accrued and outstanding under this Contract in relation to the proportion of the Loan Outstanding to be prepaid. The Borrower shall effect payment of the amount demanded on the date specified by the Bank, such date being a date falling not less than 30 (thirty) days from the date of the demand.
4.3.A(2) PARI PASSU TO NON-EIB FINANCING
If the Borrower voluntarily prepays (for the avoidance of doubt, prepayment shall include a repurchase or cancellation where applicable) a part or the whole of any Non-EIB Financing and:
(a) such prepayment is not made within a revolving credit facility (save for the cancellation of the revolving credit facility);
(b) such prepayment is not made out of the proceeds of a loan or other indebtedness having a term at least equal to the unexpired term of the Non-EIB Financing prepaid;
the Bank may, by notice to the Borrower, cancel the undisbursed portion of the Credit and demand prepayment of the Loan Outstanding, together with accrued interest and all other amounts accrued and outstanding under this Contract in relation to the proportion of the Loan Outstanding to be prepaid. The proportion of the Loan Outstanding that the Bank may require to be prepaid shall be the same as the proportion that the prepaid amount of the Non-EIB Financing bears to the aggregate outstanding amount of all Non-EIB Financing.
The Borrower shall effect payment of the amount demanded on the date specified by the Bank, such date being a date falling not less than 30 (thirty) days from the date of the demand.
For the purposes of this Article, "Non-EIB Financing" includes any loan (save for the Loan and any other direct loans from the Bank to the Borrower, credit bond or other form of financial indebtedness or any obligation for the payment or repayment of money originally granted to the Borrower for a term of more than 3 (three) years.
The Borrower shall promptly inform the Bank if a Change-of-Law Event has occurred or is likely to occur. In such case, or if the Bank has reasonable cause to believe that a Change- of-Law Event has occurred or is about to occur, the Bank may request that the Borrower consult with it. Such consultation shall take place within 30 (thirty) days from the date of the Bank’s request. If, after the lapse of 30 (thirty) days from the date of such request for consultation the Bank is of the opinion that the effects of the Change-of-Law Event cannot be mitigated to its satisfaction, the Bank may by notice to the Borrower, cancel the undisbursed portion of the Credit and/or demand prepayment of the Loan Outstanding, together with accrued interest and all other amounts accrued and outstanding under this Contract.
The Borrower shall effect payment of the amount demanded on the date specified by the Bank, such date being a date falling not less than 30 (thirty) days from the date of the demand.
For the purposes of this Article "Change-of-Law Event" means the enactment, promulgation, execution or ratification of or any change in or amendment to any law, rule or regulation (or in the application or official interpretation of any law, rule or regulation) that occurs after the date of this Contract and which, in the opinion of the Bank, would materially impair the Borrower's ability to perform its obligations under this Contract.
If:
(a) it becomes unlawful in any applicable jurisdiction for the Bank to perform any of its obligations as contemplated in this Contract or to fund or maintain the Loan;
(b) the Framework Agreement is or, in the reasonable opinion of the Bank, is likely to be:
(i) repudiated or terminated by Montenegro or not binding on Montenegro in any respect;
(ii) not effective in accordance with its terms or alleged by Montenegro to be ineffective in accordance with its terms; or
(iii) breached in that any obligation assumed by Montenegro under the Framework Agreement ceases to be fulfilled with respect to any loan made to any borrower in the territory of Montenegro from the resources of the Bank or the European Union; or
(c) in relation to the EU Guarantee:
(i) it is no longer valid or in full force and effect;
(ii) the conditions for cover thereunder are not fulfilled;
(iii) it does not apply to any Tranche disbursed or to be disbursed under this Contract; or
(iv) it is not effective in accordance with its terms or is alleged to be ineffective in accordance with its terms,
the Bank may by notice to the Borrower immediately (i) suspend or cancel the undisbursed portion of the Credit; and/or (ii) demand prepayment of the Loan, together with accrued interest and all other amounts accrued or outstanding under this Contract on the date indicated by the Bank in its notice to the Borrower.
4.3.B Prepayment mechanics
Any sum demanded by the Bank pursuant to Article 4.3.A, together with any interest or other amounts accrued or outstanding under this Contract including, without limitation, any indemnity due under Article 4.3.C shall be paid on the date indicated by the Bank in its notice of demand.
4.3.C Prepayment indemnity
4.4 General
4.4.A No prejudice to Article 10
This Article 4 shall not prejudice Article 10.
4.4.B No reborrowing
A repaid or prepaid amount may not be reborrowed.
ARTICLE 5
Payments
5.1 Day count convention
Any amount due by way of interest or indemnity from the Borrower under this Contract, and calculated in respect of a fraction of a year, shall be determined on the following respective conventions:
(a) in respect of interest and indemnities due under a Fixed Rate Tranche, a year of 360 (three hundred and sixty) days and a month of 30 (thirty) days; and
5.2 Time and place of payment
(a) Unless otherwise specified in this Contract or in the Bank’s demand, all sums other than sums of interest, indemnity and principal are payable within 15 (fifteen) days of the Borrower’s receipt of the Bank’s demand.
(c) The Borrower shall indicate the Contract Number in the payment details for each payment made hereunder.
(d) A sum due from the Borrower shall be deemed paid when the Bank receives it.
(e) Any disbursements by and payments to the Bank under this Contract shall be made using account(s) acceptable to the Bank. Any account in the name of the Borrower held with a duly authorised financial institution in the jurisdiction where the Borrower is incorporated or where the Project is undertaken is deemed acceptable to the Bank.
5.3 No set-off by the Borrower
All payments to be made by the Borrower under this Contract shall be calculated and be made without (and free and clear of any deduction for) set-off or counterclaim.
5.4 Disruption to Payment Systems
If either the Bank determines (in its discretion) that a Disruption Event has occurred or the Bank is notified by the Borrower that a Disruption Event has occurred:
the Bank may, and shall if requested to do so by the Borrower, consult with the Borrower with a view to agreeing with the Borrower such changes to the operation or administration of this Contract as the Bank may deem necessary in the circumstances;
the Bank shall not be obliged to consult with the Borrower in relation to any changes mentioned in paragraph (a) if, in its opinion, it is not practicable to do so in the circumstances and, in any event, shall have no obligation to agree to such changes; and
5.5 Application of sums received
5.5.A General
Sums received from the Borrower shall only discharge its payment obligations if received in accordance with the terms of this Contract.
5.5.B Partial payments
If the Bank receives a payment that is insufficient to discharge all the amounts then due and payable by the Borrower under this Contract, the Bank shall apply that payment:
(a) first, in or towards pro rata to each of any unpaid fees, costs, indemnities and expenses due under this Contract;
(b) secondly, in or towards payment of any accrued interest due but unpaid under this Contract;
(c) thirdly, in or towards payment of any principal due but unpaid under this Contract; and
(d) fourthly, in or towards payment of any other sum due but unpaid under this Contract.
5.5.C Allocation of sums related to Tranches
(a) In case of:
(i) a partial voluntary prepayment of a Tranche that is subject to a repayment in several instalments, the Prepayment Amount shall be applied pro rata to each outstanding instalment, or, at the request of the Borrower, in inverse order of maturity; or
(ii) a partial compulsory prepayment of a Tranche that is subject to a repayment in several instalments, the Prepayment Amount shall be applied in reduction of the outstanding instalments in inverse order of maturity.
(b) Sums received by the Bank following a demand under Article 10.1 and applied to a Tranche, shall reduce the outstanding instalments in inverse order of maturity. The Bank may apply sums received between Tranches at its discretion.
(c) In case of receipt of sums which cannot be identified as applicable to a specific Tranche, and on which there is no agreement between the Bank and the Borrower on their application, the Bank may apply these between Tranches at its discretion.
ARTICLE 6
Borrower undertakings and representations
The undertakings in this Article 6 remain in force from the date of this Contract for so long as any amount is outstanding under this Contract or the Credit is in force.
A. PROJECT UNDERTAKINGS
6.1 Use of Loan and availability of other funds
The Borrower shall use all amounts borrowed by it under this Contract for the execution of the Project.
The Borrower shall ensure that it has available to it the other funds listed in Recital (b) and that such funds are expended, to the extent required, on the financing of the Project.
6.2 Completion of Project
The Borrower shall, and shall ensure that the Promoter will, carry out the Project in accordance with the Technical Description as may be modified from time to time with the approval of the Bank, and complete it by the final date specified therein.
6.3 Increased cost of Project
If the total cost of the Project exceeds the estimated figure set out in Recital (b), the Borrower shall, and shall ensure that the Promoter will, obtain the finance to fund the excess cost without recourse to the Bank, so as to enable the Project to be completed in accordance with the Technical Description. The plans for funding the excess cost shall be communicated to the Bank without delay.
Upon request of the Bank, the Borrower shall demonstrate, to the satisfaction of the Bank, that it has fulfilled, or will fulfil, the financing plan set out in Recital (b).
6.4 Procurement procedure
(b) The Borrower shall ensure that the tender dossiers for all contracts to be financed by the Bank under this Contract shall include an effective national mechanism for the remedy of complaints.
(c) The Borrower, and shall ensure that the Promoter will, promptly inform the Bank of any changes to the initial procurement plan.
(d) The Borrower shall, and shall ensure that the Promoter will, consult with the Bank prior to entering into any material amendments to the contracts financed by the Bank under this Contract.
6.5 Continuing Project undertakings
The Borrower shall, and shall ensure that the Promoter will:
(a) Maintenance: maintain, repair, overhaul and renew all property forming part of the Project as required to keep it in good working order;
(b) Project assets: unless the Bank shall have given its prior consent in writing retain title to and possession of all or substantially all the assets comprising the Project or, as appropriate, replace and renew such assets and maintain the Project in substantially continuous operation in accordance with its original purpose; the Bank may withhold its consent only where the proposed action would prejudice the Bank's interests as lender to the Borrower or would render the Project ineligible for financing by the Bank under its Statute or under article 309 of the Treaty on the Functioning of the European Union;
(c) Insurance: as necessary and in line with their normal working practice, insure all works and property forming part of the Project with first class insurance companies in accordance with the most comprehensive relevant industry practice;
(d) Rights and Permits: maintain in force all rights of way or use and all Authorisations necessary for the execution and operation of the Project;
(e) Environment and Social:
(i) implement and operate the Project in compliance with Environmental and Social Standards; and;
(ii) obtain, maintain and comply with requisite Environmental Approvals for the Project;
(f) EU law: execute and operate the Project in accordance with the relevant laws of Montenegro and the relevant standards of EU law, save for any general derogation made by the European Union.
(g) Accounts: ensure that the Promoter requests any disbursements from the Borrower, and the Borrower makes any payments to the Promoter in relation with the Project to a bank account in the name of the Promoter held with a duly authorised financial institution in the jurisdiction where the Promoter is incorporated or where the Project is undertaken by the Promoter.
6.6 Implementation of the Project and Resettlement
The Borrower shall, and shall ensure that the Promoter will, implement the Project in accordance with the RPF, the RAPs and the ESMPs.
The Borrower shall, and shall ensure that the Promoter will, not commence or initiate any resettlement prior to the Bank’s agreement of the RAP applicable to such resettlement.
6.7 Project Implementation Unit
The Borrower shall, and shall ensure that the Promoter will, maintain in operation a Project Implementation Unit and a works supervision team with terms of reference, staff, resources and technical assistance all satisfactory to the Bank.
B. GENERAL UNDERTAKINGS
6.8 Compliance with laws
The Borrower shall, and shall ensure that the Promotor will, comply in all respects with all laws to which the Borrower or the Promoter (respectively) or the Project is subject.
6.9 Books and records
The Borrower:
(a) shall ensure that the Borrower and the Promoter have kept and will continue to keep proper books and records of account, in which full and correct entries shall be made of all financial transactions and the assets and business of the Borrower, including expenditures in connection with the Project, in accordance with GAAP as in effect from time to time; and,
(b) shall, and ensure that the Promoter will, keep records of contracts financed with the proceeds of the Loan including a copy of the contract itself and material documents relating to the procurement for at least 6 years from substantial performance of the contract.
6.10 Integrity
(a) Prohibited Conduct:
(i) The Borrower shall not, and shall ensure that the Promoter will not, engage in (and shall not authorise or permit any other person acting on its behalf to engage in) any Prohibited Conduct in connection with the Project, any tendering procedure for the Project, or any transaction contemplated by the Contract.
(ii) The Borrower undertakes to take, and shall ensure that the Promoter will take, such action as the Bank shall reasonably request to investigate or terminate any alleged or suspected occurrence of any Prohibited Conduct in connection with the Project.
(iii) The Borrower undertakes to ensure that contracts financed by this Loan include the necessary provisions to enable the Borrower and/or the Promoter to investigate or terminate any alleged or suspected occurrence of any Prohibited Conduct in connection with the Project.
(b) Sanctions: The Borrower shall not, and shall ensure that the Promoter will not, (i) enter into a business relationship with any Sanctioned Person, or (ii) make any funds available to or for the benefit of, directly or indirectly, any Sanctioned Person;
(c) Xxxxxxxx’x Officials: The Borrower undertakes to take, shall ensure that the Promoter will take, within a reasonable timeframe appropriate measures in respect of any official or person holding a public office in the Borrower or the Promoter who:
(i) becomes a Sanctioned Person; or
(ii) is the subject of a final and irrevocable court ruling in connection with Prohibited Conduct perpetrated in the course of the exercise of their professional duties
in order to ensure that such member is suspended, dismissed or in any case excluded from any Borrower’s or the Promoter’s activities in relation to the Loan and to the Project.
6.11 General Representations and Warranties
The Borrower represents and warrants to the Bank that:
(a) it has the power to execute, deliver and perform its obligations under this Contract and all necessary governmental and other actions have has been taken to authorise the execution, delivery and performance of the same by it;
(b) this Contract constitutes its legally valid, binding and enforceable obligations;
(c) the execution and delivery of, the performance of its obligations under and compliance with the provisions of this Contract do not and will not contravene or conflict with:
(i) any applicable law, statute, rule or regulation, or any judgement, decree or permit to which it is subject; or
(ii) any agreement or other instrument binding upon it which might reasonably be expected to have a material adverse effect on its ability to perform its obligations under this Contract,
(d) there has been no Material Adverse Change since 29 June 2018;
(e) no event or circumstance which constitutes a Prepayment Event or an Event of Default has occurred and is continuing unremedied or unwaived;
(f) no litigation, arbitration, administrative proceedings or investigation is current or to its knowledge is threatened or pending before any court, arbitral body or agency which has resulted or if adversely determined is reasonably likely to result in a Material Adverse Change, nor is there subsisting against it or any of its subsidiaries any unsatisfied judgement or award;
(g) it has obtained all necessary Authorisations in connection with this Contract and in order to lawfully comply with its obligations hereunder, and the Project, and the Promoter has obtained all necessary Authorisations in connection with the Project, and all such Authorisations are in full force and effect and admissible in evidence;
(h) its payment obligations under this Contract rank not less than pari passu in right of payment with all other present and future unsecured and unsubordinated obligations under any of its debt instruments except for obligations mandatorily preferred by law;
(i) it is in compliance with Article (a)(d) and to the best of its knowledge and belief (having made due and careful enquiry) no Environmental or Social Claim has been commenced or is threatened against it or the Promoter;
(j) it is in compliance with all undertakings under this Article 6;
(k) no Loss-of-Rating clause have been concluded with any other creditor of the Borrower;
(f) to the best of its knowledge, no funds invested in the Project by the Borrower or the Promoter are of illicit origin, including products of Money Laundering or linked to the Financing of Terrorism;
(g) neither the Borrower, the Promoter, their officials or any persons holding a public office, nor any persons acting on their behalf or under their control has committed or will commit (i) any Prohibited Conduct in connection with the Project or any transaction contemplated by the Contract; or (ii) any illegal activity related to the Financing of Terrorism or Money Laundering;
(l) the Project (including without limitation, the negotiation, award and performance of contracts financed or to be financed by the Loan) has not involved or given rise to any Prohibited Conduct;
The representations and warranties set out above shall survive the execution of this Contract and are, with the exception of the representation set out in paragraph (d) above, deemed repeated on each date of Disbursement Acceptance, Disbursement Date and on each Payment Date.
ARTICLE 7
Security
7.1 Pari passu ranking
The Borrower shall ensure that its payment obligations under this Contract rank, and will rank, not less than pari passu in right of payment with all other present and future unsecured and unsubordinated obligations under any of its External Debt Instruments.
In particular, if the Bank makes a demand under Article 10.01 or if an event or potential event of default under any unsecured and unsubordinated External Debt Instrument of the Borrower or of any of its agencies or instrumentalities has occurred and is continuing, the Borrower shall not make (or authorize) any payment in respect of any other such External Debt Instrument (whether regularly scheduled or otherwise) without simultaneously paying, or setting aside in a designated account for payment on the next Payment Date a sum equal to, the same proportion of the debt outstanding under this Contract as the proportion that the payment under such External Debt Instrument bears to the total debt outstanding under that Instrument. For this purpose, any payment of an External Debt Instrument that is made out of
the proceeds of the issue of another instrument, to which substantially the same persons as hold claims under the External Debt Instrument have subscribed, shall be disregarded.
In this Contract, “External Debt Instrument” means (a) an instrument, including any receipt or statement of account, evidencing or constituting an obligation to repay a loan, deposit, advance or similar extension of credit (including without limitation any extension of credit under a refinancing or rescheduling agreement), (b) an obligation evidenced by a bond, debenture or similar written evidence of indebtedness or (c) a guarantee granted by the Borrower for an obligation of a third party; provided in each case that such obligation is: (i) governed by a system of law other than the law of the Borrower; or (ii) payable in a currency other than the currency of the Borrower's country; or (iii) payable to a person incorporated, domiciled, resident or with its head office or principal place of business outside the Borrower's country.
7.2 Clauses by inclusion
If the Borrower concludes with any other medium or long term financial creditor a financing agreement that includes a loss-of-rating clause, and/or a cross default clause and/or a pari passu clause that is stricter than the equivalent provision(s) of this Contract, the Borrower shall so inform the Bank and shall, at the request of the Bank, execute an agreement to amend this Contract so as to provide for an equivalent provision in favour of the Bank.
7.3 Additional security
Should the Borrower grant to a third party any security for the performance of any External Debt Instrument or any preference or priority in respect thereof, the Borrower shall, if so required by the Bank, provide to the Bank equivalent security for the performance of its obligations under this Contract or grant to the Bank equivalent preference or priority.
ARTICLE 8
Information and Visits
8.1 Information concerning the Project
The Borrower shall, and shall procure that the Promoter will:
(a) deliver to the Bank:
(i) the information in content and in form, and at the times, specified in Schedule 0 or otherwise as agreed from time to time by the parties to this Contract; and
(ii) any such information or further document concerning the financing, procurement, implementation, operation of the Project and related environmental or social matters as the Bank may reasonably require within a reasonable time;
provided always that if such information or document is not delivered to the Bank on time, and the Borrower or the Promoter does not rectify the omission within a reasonable time set by the Bank in writing, the Bank may remedy the deficiency, to the extent feasible, by employing its own staff or a consultant or any other third party, at the Borrower’s expense and the Borrower shall provide such persons with all assistance necessary for the purpose;
(b) submit for the approval of the Bank without delay any material change to the Project, also taking into account the disclosures made to the Bank in connection with the Project prior to the signing of this Contract, in respect of, inter alia, the price, design, plans, timetable or to the expenditure programme or financing plan for the Project;
(c) promptly inform the Bank of:
(i) any action or protest initiated or any objection raised by any third party or any genuine complaint received by the Borrower or the Promoter or any Environmental or Social Claim that is to its knowledge commenced, pending or threatened against it or the Promoter;
(ii) any fact or event known to the Borrower or the Promoter, which may substantially prejudice or affect the conditions of execution or operation of the Project;
(iii) any non-compliance by it or the Promoter with any Environmental and Social Standard;
(iv) any suspension, revocation or modification of any Environmental Approval,
(v) a genuine allegation or complaint with regard to any Prohibited Conduct related to the Project;
(vi) should it or the Promoter become aware of any fact or information confirming or reasonably suggesting that (a) any Prohibited Conduct has occurred in connection with the Project, or (b) any of the funds invested in its share capital or in the Project was derived from an illicit origin;
and set out the action to be taken with respect to such matters; and
(d) provide to the Bank, if so requested, true copies of contracts financed with the proceeds of the Loan and evidence of expenditures relating to disbursements.
8.2 Information concerning the Borrower
The Borrower shall, and shall ensure that the Promoter will:
deliver to the Bank from time to time, such further information, evidence or document concerning:
its general financial situation or such certificates of compliance with the undertakings of Article 6; and
customer due diligence matters of, or for, the Borrower and/or the Promoter to comply with "know your customer" (KYC) or similar identification procedures,
as the Bank may deem necessary or may reasonably require to be provided within a reasonable time, and
inform the Bank immediately of:
any fact which obliges it to prepay any financial indebtedness or any European Union funding; any event or decision that constitutes or may result in a Prepayment Event;
any intention on its part to grant any Security over any of its assets in favour of a third party; any intention on its part to relinquish ownership of any material component of the Project;
any fact or event that is reasonably likely to prevent the substantial fulfilment of any obligation of the Borrower under this Contract;
any Event of Default having occurred or being threatened or anticipated;
any fact or event which results in any officials or persons holding a public office in the Borrower or the Promoter being a Sanctioned Person;
unless prohibited by law, any material litigation, arbitration, administrative proceedings or investigation carried out by a court, administration or similar public authority, which, to the best of its knowledge and belief, is current, imminent or pending against the Borrower, the Promoter or any officials or persons holding a public office in the Borrower or the Promoter in connection with Prohibited Conduct related to the Loan or the Project;
any measure taken by the Borrower or the Promoter pursuant to Article 6.10 of this Contract; and
any litigation, arbitration or administrative proceedings or investigation which is current, threatened or pending and which might if adversely determined result in a Material Adverse Change.
8.3 Visits, Right of Access and Investigation
(a) The Borrower shall, and shall ensure that the Promoter will, allow persons designated by the Bank, as well as persons designated by the competent EU institutions including the Court of Auditors of the European Communities, the European Commission and the European Anti-Fraud Office to:
(i) visit the sites, installations and works comprising the Project and to conduct such checks as they may wish for purposes connected with this Contract and the financing of the Project,
(ii) interview representatives of the Borrower and/or Promoter, and not obstruct contacts with any other person involved in or affected by the Project; and
(iii) review the Borrower’s and/or Promoter’s books and records in relation to the execution of the Project and to be able to take copies of related documents to the extent permitted by the law.
(b) The Borrower shall, and shall ensure that the Promoter will, facilitate investigations by the Bank and by other competent European Union institutions or bodies in connection with any alleged or suspected occurrence of a Prohibited Conduct and shall provide the Bank, or ensure that the Bank is provided, with all necessary assistance for the purposes described in this Article.
(c) The Borrower acknowledges, and the Borrower shall ensure that the Promoter acknowledges, that the Bank may be obliged to communicate information relating to the Borrower, the Promoter and the Project to any competent institution or body of the European Union including the Court of Auditors of the European Communities, the European Commission and the European Anti-Fraud Office as are necessary for the performance of their task in accordance with the laws of the European Communities.
ARTICLE 9
Charges and expenses
9.1 Taxes, duties and fees
The Borrower shall pay all Taxes, duties, fees and other impositions of whatsoever nature, including stamp duty and registration fees, arising out of the execution or implementation of this Contract or any related document and in the creation, perfection, registration or enforcement of any Security for the Loan to the extent applicable.
The Borrower shall pay all principal, interest, indemnities and other amounts due under this Contract gross without any withholding or deduction of any national or local impositions whatsoever required by law or under an agreement with a governmental authority or otherwise. If the Borrower is obliged to make any such withholding or deduction, it shall gross up the payment to the Bank so that after withholding or deduction, the net amount received by the Bank is equivalent to the sum due.
9.2 Other charges
The Borrower shall bear all charges and expenses, including professional, banking or exchange charges incurred in connection with the preparation, execution, implementation, enforcement and termination of this Contract or any related document, any amendment, supplement or waiver in respect of this Contract or any related document, and in the amendment, creation, management, enforcement and realisation of any security for the Loan.
9.3 Increased costs, indemnity and set-off
(a) The Borrower shall pay to the Bank any costs or expenses incurred or suffered by the Bank as a consequence of the introduction of or any change in (or in the interpretation, administration or application of) any law or regulation or compliance with any law or regulation which occurs after the date of signature of this Contract, in accordance with or as a result of which:
(i) the Bank is obliged to incur additional costs in order to fund or perform its obligations under this Contract, or
(ii) any amount owed to the Bank under this Contract or the financial income resulting from the granting of the Credit or the Loan by the Bank to the Borrower is reduced or eliminated.
(b) Without prejudice to any other rights of the Bank under this Contract or under any applicable law, the Borrower shall indemnify and hold the Bank harmless from and against any loss incurred as a result of any full or partial discharge that takes place in a manner other than as expressly set out in this Contract.
(c) The Bank may set off any matured obligation due from the Borrower under this Contract (to the extent beneficially owned by the Bank) against any obligation (whether or not matured) owed by the Bank to the Borrower regardless of the place of payment, booking branch or currency of either obligation. If the obligations are in different currencies, the Bank may convert either obligation at a market rate of exchange in its usual course of business for the purpose of the set-off. If either obligation is unliquidated or unascertained, the Bank may set off in an amount estimated by it in good faith to be the amount of that obligation.
ARTICLE 10
Events of Default
10.1 Right to demand repayment
The Borrower shall repay all or part of the Loan Outstanding (as requested by the Bank) forthwith, together with accrued interest and all other accrued or outstanding amounts under this Contract, upon written demand being made by the Bank in accordance with the following provisions.
10.1.A Immediate demand
The Bank may make such demand immediately without prior notice (mise en demeure préalable) or any judicial or extra judicial step:
(a) if the Borrower does not pay on the due date any amount payable pursuant to this Contract at the place and in the currency in which it is expressed to be payable, unless:
(i) its failure to pay is caused by an administrative or technical error or a Disruption Event; and
(ii) payment is made within 3 (three) Business Days of its due date;
(b) if any information or document given to the Bank by or on behalf of the Borrower or any representation, warranty or statement made or deemed to be made by the Borrower in or pursuant to this Contract or in connection with the negotiation or performance of this Contract is or proves to have been incorrect, incomplete or misleading in any material respect;
(c) if, following any default of the Borrower in relation to any loan, or any obligation arising out of any financial transaction, other than the Loan:
(i) the Borrower is required or is capable of being required or will, following expiry of any applicable contractual grace period, be required or be capable of being required to prepay, discharge, close out or terminate ahead of maturity such other loan or obligation; or
(ii) any financial commitment for such other loan or obligation is cancelled or suspended,
(d) if the Borrower is unable to pay its debts as they fall due, or suspends its debts, or makes or seeks to make a composition with its creditors;
(e) if an encumbrancer takes possession of, or a receiver, liquidator, administrator, administrative receiver or similar officer is appointed, whether by a court of competent jurisdiction or by any competent administrative authority, of or over, any part of the business or assets of the Borrower or any property forming part of the Project;
(f) if the Borrower defaults in the performance of any obligation in respect of any other loan granted by the Bank or financial instrument entered into with the Bank;
(g) if the Borrower defaults in the performance of any obligation in respect of any other loan made to it from the resources of the Bank or the European Union;
(h) if any expropriation, attachment, arrestment, distress, execution, sequestration or other process is levied or enforced upon the property of the Borrower or any property forming part of the Project and is not discharged or stayed within 14 (fourteen) days;
(i) if a Material Adverse Change occurs, as compared with the Borrower’s condition at the date of this Contract; or
(j) if it is or becomes unlawful for the Borrower to perform any of its obligations under this Contract or this Contract is not effective in accordance with its terms or is alleged by the Borrower to be ineffective in accordance with its terms.
10.1.B Demand after notice to remedy
The Bank may also make such demand without prior notice (mise en demeure préalable) or any judicial or extra judicial step (without prejudice to any notice referred to below):
(b) if any fact related to the Borrower or the Project stated in the Recitals materially alters and is not materially restored and if the alteration either prejudices the interests of the Bank as lender to the Borrower or adversely affects the implementation or operation of the Project,
unless the non-compliance or circumstance giving rise to the non-compliance is capable of remedy and is remedied within a reasonable period of time specified in a notice served by the Bank on the Borrower.
10.2 Other rights at law
Article 10.1 shall not restrict any other right of the Bank at law to require prepayment of the Loan Outstanding.
10.3 Indemnity
10.3.A Fixed Rate Tranches
In case of demand under Article 10.1 in respect of any Fixed Rate Tranche, the Borrower shall pay to the Bank the amount demanded together with the indemnity on any amount of principal due to be prepaid. Such indemnity shall (i) accrue from the due date for payment specified in the Bank’s notice of demand and be calculated on the basis that prepayment is effected on the date so specified, and (ii) be for the amount communicated by the Bank to the Borrower as the present value (calculated as of the date of the prepayment) of the excess, if any, of:
(a) the interest that would accrue thereafter on the amount prepaid over the period from the date of prepayment to the Interest Revision/Conversion Date, if any, or the Maturity Date, if it were not prepaid; over
(b) the interest that would so accrue over that period, if it were calculated at the Redeployment Rate, less 0.15% (fifteen basis points).
The said present value shall be calculated at a discount rate equal to the Redeployment Rate, applied as of each relevant Payment Date of the applicable Tranche
10.3.B Floating Rate Tranches
In case of demand under Article 10.1 in respect of any Floating Rate Tranche, the Borrower shall pay to the Bank the amount demanded together with a sum equal to the present value of 0.15% (fifteen basis points) per annum calculated and accruing on the amount of principal due to be prepaid in the same manner as interest would have been calculated and would have accrued, if that amount had remained outstanding according to the applicable amortisation schedule of the Tranche, until the Interest Revision/Conversion Date, if any, or the Maturity Date.
The value shall be calculated at a discount rate equal to the Redeployment Rate applied as of each relevant Payment Date.
10.3.C General
Amounts due by the Borrower pursuant to this Article 10.3 shall be payable on the date specified in the Bank’s demand.
10.4 Non-Waiver
No failure or delay or single or partial exercise by the Bank in exercising any of its rights or remedies under this Contract shall be construed as a waiver of such right or remedy. The rights and remedies provided in this Contract are cumulative and not exclusive of any rights or remedies provided by law.
ARTICLE 11
Law and dispute resolution, miscellaneous
11.1 Governing Law
This Contract and any non-contractual obligations arising out of or in connection with it shall be governed by the laws of Luxembourg.
11.2 Jurisdiction
(a) The Court of Justice of the European Union has exclusive jurisdiction to settle any dispute arising out of or in connection with this Contract (including a dispute regarding the existence, validity or termination of this Contract or the consequences of its nullity) or any non-contractual obligation arising out of or in connection with this Contract.
(b) The parties agree that the Court of Justice of the European Union is the most appropriate and convenient court to settle any disputes between them and, accordingly, that they will not argue to the contrary.
(c) The parties to this Contract hereby waive any immunity from or right to object to the jurisdiction of the Court of Justice of the European Union. A decision of the courts given pursuant to this Article shall be conclusive and binding on each party without restriction or reservation.
11.3 Place of performance
Unless otherwise specifically agreed by the Bank in writing, the place of performance under this Contract, shall be the seat of the Bank.
11.4 Evidence of sums due
In any legal action arising out of this Contract the certificate of the Bank as to any amount or rate due to the Bank under this Contract shall, in the absence of manifest error, be prima facie evidence of such amount or rate.
11.5 Entire Agreement
This Contract constitutes the entire agreement between the Bank and the Borrower in relation to the provision of the Credit hereunder, and supersedes any previous agreement, whether express or implied, on the same matter.
11.6 Invalidity
If at any time any term of this Contract is or becomes illegal, invalid or unenforceable in any respect, or this Contract is or becomes ineffective in any respect, under the laws of any jurisdiction, such illegality, invalidity, unenforceability or ineffectiveness shall not affect:
(a) the legality, validity or enforceability in that jurisdiction of any other term of this Contract or the effectiveness in any other respect of this Contract in that jurisdiction; or
(b) the legality, validity or enforceability in other jurisdictions of that or any other term of this Contract or the effectiveness of this Contract under the laws of such other jurisdictions.
11.7 Amendments
Any amendment to this Contract shall be made in writing and shall be signed by the parties hereto.
11.8 Counterparts
This Contract may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument. Each counterpart is an original, but all counterparts shall together constitute one and the same instrument.
ARTICLE 12
Final clauses
12.1 Notices
12.1.A Form of Notice
(a) Any notice or other communication given under this Contract must be in writing and, unless otherwise stated, may be made by letter, electronic mail and facsimile.
(b) Notices and other communications for which fixed periods are laid down in this Contract or which themselves fix periods binding on the addressee, may be made by hand delivery, registered letter, facsimile or by electronic mail. Such notices and communications shall be deemed to have been received by the other party:
(i) on the date of delivery in relation to a hand-delivered or registered letter;
(ii) on receipt of transmission in relation to a facsimile;
(iii) in the case of any electronic mail sent by the Borrower to the Bank, only when actually received in readable form and only if it is addressed in such a manner as the Bank shall specify for this purpose, or
(iv) in the case of any electronic mail sent by the Bank to the Borrower, when the electronic mail is sent.
(c) Any notice provided by the Borrower to the Bank by electronic mail shall:
(i) mention the Contract Number in the subject line; and
(ii) be in the form of a non-editable electronic image (pdf, tif or other common non editable file format agreed between the parties) of the notice signed by an Authorised Signatory with individual representation right or by two or more Authorised Signatories with joint representation right of the Borrower as appropriate, attached to the electronic mail.
(d) Notices issued by the Borrower pursuant to any provision of this Contract shall, where required by the Bank, be delivered to the Bank together with satisfactory evidence of the authority of the person or persons authorised to sign such notice on behalf of the Borrower and the authenticated specimen signature of such person or persons.
(e) Without affecting the validity of electronic mail or facsimile notices or communication made in accordance with this Article 12.1, the following notices, communications and documents shall also be sent by registered letter to the relevant party at the latest on the immediately following Business Day:
(i) Disbursement Acceptance
(ii) any notices and communication in respect of the deferment, cancellation and suspension of a disbursement of any Tranche, interest revision or conversion of any Tranche, Market Disruption Event, Prepayment Request, Prepayment Notice, Event of Default, any demand for prepayment, and
(iii) any other notice, communication or document required by the Bank.
(f) The parties agree that any above communication (including via electronic mail) is an accepted form of communication, shall constitute admissible evidence in court and shall have the same evidential value as an agreement under hand.
12.1.B Addresses
The address, fax number and electronic mail address (and the department or officer, if any, for whose attention the communication is to be made) of each party for any communication to be made or document to be delivered under or in connection with this Contract is:
For the Bank | Attention: OPSA/MA-0 000 xxxxxxxxx Xxxxxx Xxxxxxxx X-0000 Xxxxxxxxxx E-mail address: xxxxxxxxxxx-00000@xxx.xxx Facsimile no.: x000 0000 00000 |
For the Borrower | Attention: Department/Division MONTENGRO [ ] E-mail address: [GROUP/GENERIC E-MAIL ADDRESS ONLY, NO INDIVIDUAL] |
12.1.C Notification of communication details
The Bank and the Borrower shall promptly notify the other party in writing of any change in their respective communication details.
12.2 English language
(a) Any notice or communication given under or in connection with this Contract must be in English.
(b) All other documents provided under or in connection with this Contract must be:
(i) in English; or
(ii) if not in English, and if so required by the Bank, accompanied by a certified English translation and, in this case, the English translation will prevail.
12.3 Recitals and Schedules
The Recitals and following Schedules form part of this Contract:
Definition of EURIBOR | |
The parties hereto have caused this Contract to be executed in [4 (four)] originals in the English language.
At , this 2018
Signed for and on behalf of XXXXXXXXX | Signed for and on behalf of EUROPEAN INVESTMENT BANK | |
| | |
| | |
Project Specification and Reporting
Technical Description (Article 6.2)
Purpose, Location
The Project consists of the rehabilitation and upgrade of five schemes of Montenegro’s main road network. The Project aims are to: 1) upgrade selected road sections to provide adequate capacity to relieve congestion and increase level of service; and 2) restore aging pavements to a condition with greater bearing capacity that can be maintained by normal routine maintenance operations.
The schemes are located throughout Montenegro.
Description
The five Schemes are as follows:
Scheme 1, about 39 km of “E-80 (M-2 and M-2.4) main road Coastal Corridor from Tivat to Bar”:
o reconstruction of the road section and construction of a 16 km-long boulevard between Tivat, Jaz and Budva;
o rehabilitation and reconstruction of the road section including the reconstruction of several bridges between Kamenovo and Petrovac;
o rehabilitation and reconstruction of the road section including reconstruction of several bridges between Petrovac and Bar;
Scheme 2, about 16 km of “E-762 (M-18) main road from Danilovgrad to Podgorica”:
o reconstruction of the road section and construction of a 15.5 km-long boulevard and junction in Novo Selo;
Scheme 3, about 91 km “E-65 (M-2) main road from Lepenac to the Spiljani border with Kosovo”:
o rehabilitation and reconstruction of the road section including reconstruction of several bridges between Lepenac, Ribarevina and Poda;
o rehabilitation and reconstruction of the road section including reconstruction of several bridges and one tunnel between Poda and Berane;
o rehabilitation and reconstruction of the road section including reconstruction of several bridges, tunnels and the construction of a 2.5 km-long climbing lane between Berane and the entrance of the Lokve tunnel;
o rehabilitation and reconstruction of the road section including reconstruction of several bridges between the exit of the Lokve tunnel and Rozaje;
o rehabilitation and reconstruction of the road section including reconstruction of several bridges and tunnels between Rozaje and Spiljani;
Scheme 4, about 17 km of “E-763 (M-21) main road from Ribarevina to the Dobrakovo border with Serbia”:
o rehabilitation and reconstruction of the road section including the construction of a 1.7 km-long climbing lane between Xxxxxx most and Dobrakovo;
o rehabilitation and reconstruction of the road section including the construction of a 1.5 km-long climbing lane between Dobrakovo and Bijelo Polje; and
Scheme 5, about 16 km of “M-8 main road link between Pljevlja and Mihajlovica”:
o reconstruction and rehabilitation of the entire section between Pljevlja and Xxxxxxxxxxx at the border with Serbia.
Any change to the schemes listed above (the “Schemes”) shall be in agreement between the Borrower and Bank.
For all the Schemes, the works will generally comprise:
widening of the road cross section (width and number of lanes as well as widening of shoulders and xxxxx), construction of climbing lanes, alignment and profile correction to improve speed, turning radii, stopping and intersection sight distance;
rehabilitation or reconstruction of bridges and tunnels;
construction of new and reconstruction of damaged culverts and of retaining and facing walls;
construction of new and reconstruction of drainage and outfall and flood easements;
slope rehabilitation, rehabilitation and protection of cuts and side cuts;
improvement of the foundation bearing capacity and embankment rehabilitation and protection;
replacement of the pavement/damaged asphalt layers; and
installation or renewal of traffic signage and equipment (road marking, traffic signs, guard posts, guard-rails, mirrors, tunnel reflecting studs and others).
Scheme | Route | Number of lanes | Width of lanes (m) | Total width (m) | Max longitudinal gradient (%) | Min cross section gradient (%) | Total lenght (m) | Speed limit before project (km/h) | Speed limit after project (km/h) | Bearing capacity |
Scheme 1 “E-80 (M-2 and M-2.4) main road from Tiva to Bar” | M-2 Tivat-Budva | 4 | 14 | 20 | 6.0% | 2.5% | 16.00 | 50 | 80 | 11t |
M-2 section Kamenovo- Petrovac | 2 | 2x3.25 | 9.85 | 6.0% | 2.5% | 11.30 | 50 | 60 | 11t | |
M-2.4 section Petrovac-Bar | 2 (3) | 2x3.25 (+3.00) | 9.6 (12.6) | 6.0% | 2.5% | 12.00 | 50 | 60 | 11t | |
Scheme 2 “E-762 (M-18) main road from Danilovgrad to Podgorica” | M-18 Danilovgrad - Podgorica (chainage 114+500 km to 129+500 km) | 4 | 14 | 22 | 6.0% | 2.5% | 15.10 | 50 | 80 | 11t |
Scheme 3 “E-65 (M-2) main road from Lepenac to the Spiljani border with Kosovo” | M-2 section Lepenac- Ribarevina | 2 (3) | 2x3.25 (+3.00) | 9.6 (12.6) | 6.0% | 2.5% | 12.90 | 50 | 60 | 11t |
M-2 section Ribarevina- Poda | 2 | 2x3.25 | 9.6 | 6.0% | 2.5% | 14.70 | 60 | 80 | 11t | |
M-2 section Poda - Berane | 2 | 2x3.25 | 9.85 | 6.0% | 2.5% | 12.20 | 50 | 80 | 11t | |
M-2 section Berane- entrance Tunnel "Lokve" | 2 (3) | 2x3.25 (+3.00) | 9.6 (12.6) | 6.0% | 2.5% | 16.20 | 50 | 60 | 11t | |
M-2 section exit Tunnel "Lokve"-Rožaje | 2 (3) | 2x3.25 (+3.00) | 9.6 (12.6) | 6.0% | 2.5% | 14.70 | 50 | 60 | 11t | |
M-2 Rožaje-Špiljani (chainage 1148+200 km to 1168+200 km) | 2 | 2x3.30 | 9.2 | 0.06 | 0.025 | 20.00 | 50 | 60 | 11t | |
Scheme 4 “E-763 (M-21) main road from Ribarevina to the Dobrakovo border with Serbia” | Xxxxxx most-Bijelo Polje (chainage 131+200 km to 135+300 km) | 2 (3) | 2x3.25 (+3.00) | 9.85 (12.85) | 6.0% | 2.5% | 4.30 | 50 | 60 | 11t |
Xxxxxx most - Bijelo Polje from km 135+300 to 145+600 | 2 | 2x3.25 | 2x3,55 | 6.0% | 2.5% | 10.30 | 50 | 60 | 11t | |
Scheme 5 “M-8 main road link between Pljevlja and Mihajlovica” | M- 8 Pljevlja-Mihajlovica | 2 | 2x3.00 | 9.1 | 6.0% | 2.5% | 10.00 | 50 | 60 | 11t |
The main design characteristics of the Schemes will be as follows:
t
All the Scheme designs shall be compliant to the principles of the EU Directive on Road Safety (2008/96/EC) and the EU minimum safety requirements for tunnels (2004/54/EC).
All the Schemes shall be implemented in accordance with the decisions of the national planning and environmental authorities.
Any necessary land acquisition and resettlement, plus VAT is to be financed by the Borrower. The Project also includes services for planning, design, supervision and monitoring as required. Calendar
The Project is expected to be implemented over the period 2019 - 2022.
Information Duties under Article 8.10
1. Dispatch of information: designation of the person responsible
The information below has to be sent to the Bank under the responsibility of:
Company | Government of Montenegro |
Contact person | Mile Ostojic |
Title | Head of PIU |
Function / Department | Traffic Directorate |
Address | 00 XX xxxxxxxxxxx Xxxxxx 00000 Xxxxxxxxx, Xxxxxxxxxx |
Phone | x000 00 000 000 |
Fax | x000 00 000 000 |
The above-mentioned contact person is the responsible contact(s) for the time being. The Borrower shall inform the Bank immediately in case of any change.
2. Information on specific subjects
The Borrower shall deliver to the Bank the following information at the latest by the deadline indicated below.
Document / information | Deadline |
Evidence that the EIA procedures for Scheme 1 have been completed, namely: EIA report and its [NTS]; environmental consent issued by the Competent Authority for the Environment; evidence of public consultation of the EIA and disclosure of the environmental consent. | Prior to the first disbursement of funds for financing Scheme 1 |
For each Scheme to which the disbursement will be applied a copy of the approved resettlement action plan (RAP) agreed with the Bank; Environmental and Social Management Plan (ESMP) agreed with the Bank; evidence that their implementation is in accordance with the agreed schedule; evidence that the Project is being implemented in accordance with the RPF, RAP and ESMP as agreed with the Bank. | Prior to each disbursement for each Scheme to which the disbursement will be applied |
Evidence that: a Project Implementation Unit is in operation with terms of reference, staff, resources and technical assistance, all to the Bank’s satisfaction, in particular, concerning environmental and social aspects; a works supervision team in operation with terms of reference, staff and resources, all to the Bank’s satisfaction. | Prior to each disbursement |
3. Information on the project’s implementation
The Borrower shall deliver to the Bank the following information on project progress during implementation at the latest by the deadline indicated below.
Document / information | Deadline | Frequency of reporting |
Project Progress Report - A brief update on the technical description, explaining the reasons for significant changes vs. initial scope; - Update on the date of completion of each of the Schemes, explaining reasons for any possible delay; - Update on the cost of the project, explaining reasons for any possible cost increases vs. initial budgeted cost; - Update on finance plan, both for EBRD and GOMN sources; - A description of any major issue with impact on the environment; - Progress on land acquisition and resettlement - Updated procurement plan; - Any significant issue that has occurred and any significant risk that may affect the project’s operation; - Any legal action concerning the project that may be on going. | January 31 and July 31, starting January 31 2019 | Every six months |
4. Information on the end of works and first year of operation
The Borrower shall deliver to the Bank the following information on project completion and initial operation at the latest by the deadline indicated below.
Document / information | Date of delivery to the Bank |
Project Completion Report, including: - A final Technical Description of the project as completed, explaining the reasons for any significant change compared to the Technical Description in A.1.; - The date of completion of each of the Schemes, explaining reasons for any possible delay; - The final cost of the project, explaining reasons for any possible cost variations vs. initial budgeted cost; - The final sources of funds for the project - Employment effects of the project: person-days required during implementation as well as permanent new jobs created; - A description of any major issue with impact on the environment or social impacts; - Update on procurement procedures and explanation of deviations from the procurement plan; - Update on the project’s demand or usage and comments; - Any significant issue that has occurred and any significant risk that may affect the project’s operation; - Any legal action concerning the project that may be on going. - Non-confidential project-related pictures, if available. - An update on the following Monitoring Indicators: Length of road lanes subject to project – 420 lane km baseline Weighted average AADT – 4800 baseline | April 15, 2024 |
The financing for this Project benefits from an EU guarantee to the Bank under DECISION No 466/2014/EU of the European Parliament and of the Council. Pursuant to Article 9 (2) of this Decision, the Bank “shall require the project Promoters to carry out thorough
monitoring during project implementation until completion, inter alia, on the economic, development, social, environmental and human rights impact of the investment project. The EIB shall verify on a regular basis the information provided by the project Promoters and make it publicly available if the project Promoter agrees. Where possible, project completion reports related to EIB financing operations shall be published excluding confidential information.”
Accordingly, and without prejudice to the Bank’s obligation to make publicly available any project-related environmental information under Aarhus [Regulation], the Bank shall make publicly available all information provided by the Borrower in the Project Progress Reports and Project Completion Report provided that such information is expressly marked by the Borrower as “for publication on the EIB website”.
Alternatively, the Borrower may also decide to publish this information on its own website and provide the Bank with the corresponding link (URL) which will be used as a source for the Bank publication.
5. Information required 3 years after the Project Completion Report.
The Borrower shall deliver to the Bank the following information 3 years after the project completion report at the latest by the deadline indicated below.
Document / information | Date of delivery to the Bank |
Update on the Monitoring Indicators Length of road lanes subject to project – 420 lane km baseline Weighted average AADT – 4800 baseline | April 15, 2027 |
Language of reports | English |
EURIBOR
"EURIBOR" means:
in respect of a relevant period of less than one month, the Screen Rate (as defined below) for a term of one month;
(the period for which the rate is taken or from which the rates are interpolated being the "Representative Period").
For the purposes of paragraphs 0 and 0 above:
(a) "available" means the rates, for given maturities, that are calculated and published by Global Rate Set Systems Ltd (GRSS), or such other service provider selected by the European Money Markets Institute (EMMI), under the sponsorship of EMMI and EURIBOR ACI, or any successor to that function of EMMI and EURIBOR ACI as determined by the Bank; and
(b) "Screen Rate" means the rate of interest for deposits in EUR for the relevant period as published at 11h00, Brussels time, or at a later time acceptable to the Bank on the day (the "Reset Date") which falls 2 (two) Relevant Business Days prior to the first day of the relevant period, on Reuters page EURIBOR 01 or its successor page or, failing which, by any other means of publication chosen for this purpose by the Bank.
If such Screen Rate is not so published, the Bank shall request the principal euro-zone offices of four major banks in the euro-zone, selected by the Bank, to quote the rate at which EUR deposits in a comparable amount are offered by each of them as at approximately 11h00, Brussels time, on the Reset Date to prime banks in the euro-zone interbank market for a period equal to the Representative Period. If at least 2 (two) quotations are provided, the rate for that Reset Date will be the arithmetic mean of the quotations.
If fewer than 2 (two) quotations are provided as requested, the rate for that Reset Date will be the arithmetic mean of the rates quoted by major banks in the euro-zone, selected by the Bank, at approximately 11h00, Brussels time, on the day which falls 2 (two) Relevant Business Days after the Reset Date, for loans in EUR in a comparable amount to leading European banks for a period equal to the Representative Period.
If no rate is available as provided above, EURIBOR shall be the rate (expressed as a percentage rate per annum) which is determined by the Bank to be the all-inclusive cost to the Bank for the funding of the relevant Tranche based upon the then applicable internally generated Bank reference rate or an alternative rate determination method reasonably determined by the Bank.
GENERAL
For the purposes of the foregoing definitions:
All percentages resulting from any calculations referred to in this Schedule will be rounded, if necessary, to the nearest one hundred-thousandth (in respect of LIBOR) or one thousandth (in respect of EURIBOR) of a percentage point, with halves being rounded up.
The Bank shall inform the Borrower without delay of the quotations received by the Bank.
If any of the foregoing provisions becomes inconsistent with provisions adopted under the aegis of EMMI and EURIBOR ACI (or any successor to that function of EMMI and EURIBOR ACI as determined by the Bank) in respect of EURIBOR,
the Bank may by notice to the Borrower amend the provision to bring it into line with such other provisions.
Form of Disbursement Offer/Acceptance (Articles 1.2.B and 1.2.C.)
To: MONTENGRO
From: European Investment Bank Date:
Subject: Disbursement Offer/Acceptance for the Finance Contract between European Investment Bank and MONTENGRO dated (the "Finance Contract")
Serapis number 2017-0211 FI number 87624
Dear Sirs,
We refer to the Finance Contract. Terms defined in the Finance Contract have the same meaning when used in this letter.
Following your request for a Disbursement Offer from the Bank, in accordance with Article 1.2.B of the Finance Contract, we hereby offer to make available to you the following Tranche:
Currency and amount to be disbursed and its EUR equivalent:
Scheduled Disbursement Date:
Interest rate basis:
Interest payment periodicity:
Payment Dates:
Terms for repayment of principal:
The Repayment Dates and the first and the last Repayment Date for the Tranche: The Interest Revision/Conversion Date:
The Fixed Rate or Spread, applicable until the Interest Revision/Conversion Date if any, or until the Maturity Date:
The Scheme(s) towards which the proposed disbursement will be applied
To make the Tranche available subject to the terms and conditions of the Finance Contract, the Bank must receive a Disbursement Acceptance in the form of a copy of this Disbursement Offer duly signed on your behalf, to the following fax number [ ] or e-mail [ ] no later than the Disbursement Acceptance Deadline of [time] Luxembourg time on [date].
The Disbursement Acceptance below must be signed by an Authorised Signatory and must be fully completed as indicated, to include the details of the Disbursement Account.
If not duly accepted by the above stated time, the offer contained in this document shall be deemed to have been refused and shall automatically lapse.
Yours faithfully,
EUROPEAN INVESTMENT BANK
We hereby accept the above Disbursement Offer:
for and on behalf of MONTENGRO Date:
Account to be credited:
Account N°: …………………………………………………………………………………………….
Account Holder/Beneficiary: …………………………………………………………………………
(please, provide IBAN format if the country is included in IBAN Registry published by SWIFT, otherwise an appropriate format in line with the local banking practice should be provided)
Bank name and address: ……………………………………………..……………………………...
Bank identification code (BIC): ………………………………………………………………………
Payment details to be provided: …………………………………………………………………….
Please transmit information relevant to:
Name(s) of the Borrower's Authorised Signatory(ies):
………………………………………………………..……………………………………………….. Signature(s) of the Borrower’s Authorised Signatory(ies):
IMPORTANT NOTICE TO THE BORROWER:
BY COUNTERSIGNING ABOVE YOU CONFIRM THAT THE LIST OF AUTHORISED SIGNATORIES AND ACCOUNTS PROVIDED TO THE BANK WAS DULY UPDATED PRIOR TO THE PRESENTATION OF THE ABOVE DISBURSEMENT OFFER BY THE BANK.
IN THE EVENT THAT ANY SIGNATORIES OR ACCOUNTS APPEARING IN THIS DISBURSEMENT ACCEPTANCE ARE NOT INCLUDED IN THE LATEST LIST OF AUTHORISED SIGNATORIES AND ACCOUNTS RECEIVED BY THE BANK, THE ABOVE DISBURSEMENT OFFER SHALL BE DEEMED AS NOT HAVING BEEN MADE.
Interest Rate Revision and Conversion
If an Interest Revision/Conversion Date has been included in the Disbursement Offer for a Tranche, the following provisions shall apply.
Mechanics of Interest Revision/Conversion
Upon receiving an Interest Revision/Conversion Request the Bank shall, during the period commencing 60 (sixty) days and ending 30 (thirty) days before the Interest Revision/Conversion Date, deliver to the Borrower an Interest Revision/Conversion Proposal stating:
that such rate shall apply until the Maturity Date or until a new Interest Revision/Conversion Date, if any, and that interest is payable quarterly, semi-annually or annually in accordance with Article 3.1, in arrear on designated Payment Dates.
The Borrower may accept in writing an Interest Revision/Conversion Proposal by the deadline specified therein.
Any amendment to this Contract requested by the Bank in this connection shall be effected by an agreement to be concluded not later than 15 (fifteen) days prior to the relevant Interest Revision/Conversion Date.
Fixed Rates and Spreads are available for periods of not less than 4 (four) years or, in the absence of a repayment of principal during that period, not less than 3 (three) years.
Effects of Interest Revision/Conversion
If the Borrower duly accepts in writing a Fixed Rate or a Spread in respect of an Interest Revision/Conversion Proposal, the Borrower shall pay accrued interest on the Interest Revision/Conversion Date and thereafter on the designated Payment Dates.
Prior to the Interest Revision/Conversion Date, the relevant provisions of this Contract and Disbursement Offer and Disbursement Acceptance shall apply to the Tranche in its entirety. From and including the Interest Revision/Conversion Date onwards, the provisions contained in the Interest Revision/Conversion Proposal relating to the new Fixed Rate or the new Spread shall apply to the Tranche (or any part thereof, as indicated in the Interest Revision/Conversion Request) until the new Interest Revision/Conversion Date, if any, or until the Maturity Date.
No or Partial Interest Revision/Conversion
If the Borrower does not submit an Interest Revision/Conversion Request or does not accept in writing the Interest Revision/Conversion Proposal for the Tranche or if the parties fail to effect an amendment requested by the Bank pursuant to paragraph A above, the Borrower shall repay the Tranche (or the part thereof, as indicated in the Interest Revision/Conversion Request) on the Interest Revision/Conversion Date, without indemnity.
In case of a partial Interest Revision/Conversion, the Borrower will repay, without indemnity, on the Interest Revision/Conversion Date any part of the Tranche which was not covered by the Interest Revision/Conversion Request and which is therefore not subject to the Interest Revision/Conversion.
Certificates to be provided by the Borrower
Form of Certificate from Borrower (Article 1.4.C)
To: | European Investment Bank | |
From: | MONTENGRO | |
Date: | ||
Subject: | Main Roads Rehabilitation Program Finance Contract between European Investment Bank and MONTENGRO dated (the "Finance Contract") | |
Contract Number 87624 | Operation Number 2017-0211 | |
Dear Sirs,
Terms defined in the Finance Contract have the same meaning when used in this letter. For the purposes of Article 1.4 of the Finance Contract we hereby certify to you as follows:
no Prepayment Event has occurred and is continuing unremedied or unwaived;
there has been no material change to any aspect of the Project or in respect of which we are obliged to report under Article 8.1, save as previously communicated by us;
no event or circumstance which constitutes or would with the passage of time or giving of notice under the Finance Contract constitute an Event of Default has occurred and is continuing unremedied or unwaived;
no litigation, arbitration administrative proceedings or investigation is current or to our knowledge is threatened or pending before any court, arbitral body or agency which has resulted or if adversely determined is reasonably likely to result in a Material Adverse Change, nor is there subsisting against us or the Promoter any unsatisfied judgement or award;
the representations and warranties to be made or repeated by us under Article 6.11 are true in all respects; and
no Material Adverse Change has occurred, as compared with the situation at the date of the Finance Contract.
Yours faithfully,
For and on behalf of MONTENGRO Date:
NACRT br. 1 od 27. septembra 2018. Podložno pregledu, komentarima i odobrenju menadžmenta EIB i drugih internih tijela kao i daljoj dubinskoj analizi xx xxxxxx EIB. Bez obaveza za EIB. EIB interni nivo povjerljivosti: Za korporativnu upotrebu | |
Ugovor broj (FI N°) 87624 | |
Broj operacije (Serapis N°) 2017-0211 |
PROGRAM REKONSTRUKCIJE MAGISTRALNIH PUTEVA
između
Crne Xxxx
i
Evropske investicione banke
[Mjesto], [Datum]
1.1 IZNOS KREDITA 16
1.2 POSTUPAK POVLAČENJA 16
1.2.A TRANŠE 16
1.2.B PONUDA O POVLAČENJU 16
1.2.C PRIHVATANJE POVLAČENJA 16
1.2.D RAČUN POVLAČENJA 17
1.3 VALUTA POVLAČENJA 17
1.4 USLOVI POVLAČENJA 17
1.4.A USLOV KOJI PRETHODI PRVOM ZAHTJEVU ZA PONUDU O POVLAČENJU 17
1.4.B PRVA TRANŠA 17
1.4.C SVE TRANŠE 18
1.4.D DODATNI PRETHODNI USLOVI 19
1.5 ODLAGANJE ISPLATE 19
1.5.A RAZLOZI ZA ODLAGANJE 19
1.5.B OTKAZIVANJE POVLAČENJA ODLOŽENOG ZA 6 (ŠEST) MJESECI 20
1.6 OTKAZIVANJE I SUSPENZIJA 20
1.6.A PRAVO ZAJMOPRIMCA NA OTKAZIVANJE 20
1.6.B PRAVO BANKE NA SUSPENZIJU I OTKAZIVANJE 20
1.6.C OBEŠTEĆENJE ZA SUSPENZIJU I OTKAZIVANJE TRANŠE 21
1.7 OTKAZIVANJE NAKON KONAČNOG DATUMA RASPOLOŽIVOSTI 21
1.8 IZNOSI DOSPJELI PREMA ČLANU 1.5 I 1.6 21
ČLAN 2 21
2.1 IZNOS ZAJMA 21
2.2 VALUTA OTPLATE, XXXXXX I DRUGIH TROŠKOVA 21
2.3 POTVRDA BANKE 22
ČLAN 3 22
3.1 KAMATNA XXXXX 22
3.1.A TRANŠE SA FIKSNOM STOPOM 22
3.1.B TRANŠE SA VARIJABILNOM STOPOM 22
3.1.C REVIZIJA ILI KONVERZIJA TRANŠI 22
3.2 ZATEZNA KAMATA 22
3.3 SLUČAJ POREMEĆAJA NA TRŽIŠTU 23
ČLAN 4 23
4.1 NORMALNA OTPLATA 23
4.1.A OTPLATA U RATAMA 23
4.1.B JEDNA RATA 24
4.2 DOBROVOLJNA PRIJEVREMENA OTPLATA 24
4.2.A OPCIJA PRIJEVREMENE OTPLATE 24
4.2.B OBEŠTEĆENJE ZA PRIJEVREMENU OTPLATU 24
4.2.C MEHANIZAM PRIJEVREMENE OTPLATE 24
4.3 OBAVEZNA PRIJEVREMENA OTPLATA 25
4.3.A SLUČAJEVI ZA PRIJEVREMENU OTPLATU 25
4.3.B MEHANIZAM PRIJEVREMENE OTPLATE 26
4.3.C OBEŠTEĆENJE ZA PRIJEVREMENU OTPLATU 26
4.4 OPŠTE 27
ČLAN 5 27
5.1 DOGOVOR O RAČUNANJU XXXX 27
5.2 VRIJEME I MJESTO PLAĆANJA 27
5.3 NEMA PREBIJANJA XX XXXXXX ZAJMOPRIMCA 27
5.4 POREMEĆAJ U SISTEMU PLATNOG PROMETA 27
5.5 KORIŠĆENJE PRIMLJENIH IZNOSA 28
5.5.A OPŠTE 28
5.5.B DJELIMIČNA PLAĆANJA 28
5.5.C RASPODJELA SUMA KOJE SE ODNOSE NA TRANŠE 28
ČLAN 6 28
6.1 KORIŠĆENJE ZAJMA I RASPOLOŽIVOST DRUGIH SREDSTAVA 29
6.2 ZAVRŠETAK PROJEKTA 29
6.3 POVEĆANI TROŠAK PROJEKTA 29
6.4 POSTUPAK NABAVKE 29
6.5 TRAJNE OBAVEZE PO OSNOVU PROJEKTA 29
6.6 IMPLEMENTACIJA PROJEKTA I PRESELJENJE 30
6.7 XXX ZA IMPLEMENTACIJU PROJEKTA 30
6.8 POŠTOVANJA ZAKONA 30
6.9 KNJIGE I REGISTRI 30
6.10 INTEGRITET 30
6.11 OPŠTE TVRDNJE I GARANCIJE 31
ČLAN 7 32
7.2 KLAUZULE KOJE SE UKLJUČUJU 33
7.3 DODATNO OBEZBJEĐENJE 33
ČLAN 8 33
8.1 INFORMACIJE U VEZI SA PROJEKTOM 33
8.2 INFORMACIJE U VEZI SA ZAJMOPRIMCEM 34
8.3 POSJETE, PRAVO PRISTUPA I ISTRAGE 35
ČLAN 9 35
9.1 POREZI, DAŽBINE I TAKSE 35
9.2 OSTALE NAKNADE 35
9.3 POVEĆANI TROŠKOVI, OBEŠTEĆENJE I PORAVNANJE 35
ČLAN 10 36
10.1 PRAVO TRAŽENJA OTPLATE 36
10.1.A PROMPTNI ZAHTJEV 36
10.1.B ZAHTJEV NAKON OBAVJEŠTENJA O OTKLANJANJU 37
10.2 OSTALA PRAVA PO OSNOVU ZAKONA 37
10.3 OBEŠTEĆENJE 37
10.3.A TRANŠE SA FIKSNOM STOPOM 37
10.3.B TRANŠE SA VARIJABILNOM STOPOM 38
10.3.C OPŠTE 38
10.4 NEODRICANJE OD PRAVA 38
ČLAN 11 38
11.1 MJERODAVNO PRAVO 38
11.2 JURISDIKCIJA 38
11.3 MJESTO IZVRŠENJA 39
11.4 DOKAZI O DOSPJELIM IZNOSIMA 39
11.5 CIJELI SPORAZUM 39
11.6 NEVAŽENJE 39
11.7 IZMJENE I DOPUNE 39
11.8 PRIMJERCI 39
ČLAN 12 39
12.1 OBAVJEŠTENJA 39
12.1.C OBAVJEŠTAVANJE O PODACIMA ZA KOMUNIKACIJU 41
12.2 ENGLESKI JEZIK 41
12.3 UVODNE ODREDBE I PRILOZI 41
OVAJ UGOVOR JE SAČINJEN IZMEĐU:
Crne Gore, koju zastupa Ministar finansija, [], u ime Xxxxx xxx predstavnika Crne Xxxx, | ("Zajmoprimac") |
sa jedne strane, i | |
Evropske investicione xxxxx xx sjedištem u 000 xxxx Xxxxxx Xxxxxxxx, Xxxxxxxxxx, X-0000 Xxxxxxxxxx, koju zastupa | ("Banka") |
xx xxxxx xxxxxx. |
S OBZIROM NA TO:
(a) Da je Xxxxxxxxxxx izjavio da preduzima, preko Ministarstva za saobraćaj Crne Xxxx (Promoter), radove na projektu za rekonstrukciju i poboljšanje oko 180 km magistralnih puteva u Crnoj Gori, xxxx xx detaljnije opisano u tehničkom opisu (“Tehnički opis”) koji je dat u (c) (“Projekat”).
(b) Da je ukupan trošak Projekta (iskjučujući PDV), po procjeni Banke, 185.000.000,00 EUR (stotinuosamdesetpet miliona xxxx) a Zajmoprimac izjavio da namjerava da Projekat finansira kako slijedi:
Izvor | Iznos (xxxx) |
Kredit xx Xxxxx | 80,000,000.00 |
Grant od ERI | 1,500,000.00 |
Zajam od Evropske banke za obnovu i razvoj (“EBRD”) | 40,000,000.00 |
Grant od EBRD | 1,000,000.00 |
Sopstvena sredstva /ostali izvori | 66,500,000.00 |
UKUPNO | 185,000,000.00 |
(c) Da je Zajmoprimac xx Xxxxx tražio kredit od 80.000.000,00 EUR (osamdeset miliona xxxx) (“Odobreni kredit”), kako bi ispunio plan finansiranja naveden u Uvodnoj odredbi (b), koji će biti stavljen na raspolaganje iz Bančinih sopstvenih izvora i na osnovu mandata Banke za eksterno kreditiranje u periodu 2014-2020 u skladu sa Odlukom (“Mandat”).
(d) Da je Zajmoprimac zatražio xx Xxxxx prvi dio Odobrenog kredita u iznosu od 40.000.000,00 EUR (četrdeset miliona xxxx) pod uslovima iz ovog Ugovora o finansiranju ("Ugovor").
(e) Da su u skladu sa: (i) Odlukom br. 466/2014/EU, objavljenom u Službenom žurnalu Evropske unije br. L 135 od 8. maja 2014, Evropski Parlament i Savjet Evropske unije odlučili da odobre garanciju Banci za gubitke koji nastanu za nju po osnovu finansijskih aktivnosti za podršku investicionim projektima izvan Evropske unije (“Odluka”); i da (ii) sporazumom koji su zaključili Evropska unija, koju zastupa Evropska komisija, i Banka kojim se primjenjuje Odluka, u slučaju neplaćanja, Evropska unija garancijom pokriva određena neisplaćena a dospjela plaćanja Banci u vezi sa Bančinim finansijskim aktivnostima zaključenim, inter alios, sa Zajmoprimcem (“Garancija EU”). Na datum zaključenja ovog ugovora, Crna Xxxx xx Kvalifikovana država (xxxx xx definisano u daljem tekstu).
(f) Da su Crna Gora i Banka 17-22 maja 2007. zaključile Okvirni sporazum kojim se uređuju aktivnosti Banke na teritoriji Crne Xxxx (”Okvirni sporazum”). Banka stavlja Kredit (xxxx xx definisano u daljem tekstu) na raspolaganje na osnovu toga što je Okvirni sporazum i dalje u cjelosti valjan i na snazi tokom trajanja ovog Ugovora.
(g) Da je potpisivanjem ovog Ugovora, Zajmoprimac dao svoju formalnu saglasnost u skladu sa članom [] Okvirnog sporazuma da finansiranje zajma koji se obezbjeđuje ovim ugovorom xxxxx u područje primjene Okvirnog sporazuma.
(i) Da je Zajmoprimac odobrio zaduženje u iznosu od 40.000.000 EUR (četrdeset miliona xxxx) koje predstavlja ovaj kredit po uslovima predviđenim ovim Ugovorom.
(j) Da Statut Banke predviđa da xx Xxxxx dužna da osigura da se njena sredstva koriste što je racionalnije moguće u interesu Evropske unije pa, shodno tome, uslovi Bančinih kreditnih aktivnosti moraju biti usklađeni sa relevantnim politikama Evropske Unije.
(k) Da Banka smatra da pristup informacijama igra suštinsku ulogu u smanjenju ekoloških i socijalnih rizika, uključujući kršenje ljudskih prava, vezano za projekte koje finansira, pa xx xxxxx utvrdila svoju politiku transparentnosti, xxxx xx svrha poboljšanje odgovornosti Bančine xxxxx xxxxx svojim dioničarima.
(l) Obradu ličnih podataka će izvršiti Banka u skladu sa mjerodavnim zakonima Evropske Unije o zaštiti pojedinaca u pogledu obrade ličnih podataka xx xxxxxx institucija i tijela Evropske unije i o slobodnom kretanju tih podataka.
PREMA TOME, ovim je usaglašeno sljedeće:
TUMAČENJE I DEFINICIJE
Tumačenje
U ovom ugovoru:
(a) pozivanje na “članove”, “uvodne odredbe’’, “priloge’’ i “anekse”, osim ako je izričito predviđeno drugačije, je pozivanje na članove, uvodne odredbe, priloge i anekse ovog Ugovora;
(b) pozivanje na "zakon" ili "zakone" znači:
(i) svaki mjerodavni zakon i svaki mjerodavni međunarodni ugovor, ustav, statut, zakonodavstvo, uredba, normativni akt, pravilo, xxxxxx, presuda, naredba, nalog, privremena mjera, odluka, dodjela ili druga obavezujuća zakonodavna ili administrativna mjera ili pravosudna ili arbitražna odluka u bilo kojoj jurisdikciji ili mjerodavna sudska praksa; i
(ii) Pravo EU;
(c) Pozivanje na "mjerodavno pravo", "mjerodavne zakone" ili "mjerodavne jurisdikcije" znači:
(i) zakon ili jurisdikcija mjerodavni za Zajmoprimca, njegova prava i/ili obaveze (koje u svakom slučaju nastaju iz ovog Ugovora ili su u vezi sa njim), njegove nadležnosti i/ili prihode i imovinu i/ili Projekat; i/ili, xxxx xx primjenljivo; ili
(ii) zakon ili jurisdikcija (koji u svakom slučaju podrazumijeva Statut Banke) mjerodavni za Banku, njena prava, obaveze, nadležnosti i/ili prihode i imovinu;
(d) pozivanje na odredbu zakona je pozivanje na datu odredbu xxxx xx izmijenjena ili preuzeta;
(e) pozivanje na drugi sporazum ili instrument je pozivanje na taj sporazum ili instrument xxxx xx izmijenjen, obnovljen, dopunjen, proširen ili preformulisan; i
(f) riječi i izrazi u množini podrazumijevaju i jedninu i obrnuto.
Definicije
U ovom Ugovoru:
"Prihvaćena tranša“ ima značenje Tranše u odnosu na xxxx xx Ponuda o povlačenju propisno prihvaćena xx xxxxxx Zajmoprimca u skladu sa njenim uslovima na xxx ili prije Krajnjeg roka za prihvatanje povlačenja.
"Dogovoreni datum odložene isplate" ima značenje koje mu xx xxxx u članu 1.5.A(2)0. “Ovlašćenje“ znači ovlašćenje, dozvolu, saglasnost, odobrenje, odluku, licencu, izuzetak, podnošenje, ovjeru ili registraciju.
"Ovlašćeni potpisnik" znači osobu xxxx xx ovlašćena da potpiše pojedinačno ili zajednički (zavisno od slučaja) Prihvatanje povlačenja u ime Zajmoprimca i čije je ime navedeno u posljednjoj Listi ovlašćenih potpisnika i računa koju xx Xxxxx primila prije prijema relevantnog Prihvatanja povlačenja.
"Radni xxx” znači xxx (osim subote ili nedjelje) kada su Banka i komercijalne banke otvorene za opšte poslovanje u Luksemburgu.
"Slučaj promjene zakona” ima značenje koje mu xx xxxx u članu 4.3.A(3).
“Organ nadležan za prirodnu okolinu” znači organ vlasti odgovoran za zakonodavstvo o procjeni uticaja na životnu sredinu (EIA) u Crnoj Gori, uključujući izdavanje Ekoloških saglasnosti, odnosno Ministarstvo održivog razvoja i turizma ili njegov pravni nasljednik.
"Ugovor" ima značenje koje mu xx xxxx u Uvodnoj odredbi "Broj ugovora" znači broj koji utvrđuje banka, kojim se identifikuje ovaj Ugovor i koji je naznačen na naslovnoj strani ovog Ugovora nakon slova "FI N°".
"Kredit" ima značenje koje mu xx xxxx u članu 1.1.
"Obeštećenje za odlaganje" znači naknadu obračunatu na iznos odloženog ili suspendovanog povlačenja, zavisno koje xx xxxx od sljedećeg:
0.125% (12.5 baznih poena), godišnje, i procentualna xxxxx po kojoj:
kamatna xxxxx koja bi bila primjenljiva na taj iznos da je povučen xx xxxxxx Zajmoprimca na Planirani datum povlačenja, premašuje
EURIBOR (jednomjesečna xxxxx) umanjena za 0.125% (12.5 baznih poena), osim ako ova vrijednost nije manja od nule, u xxx slučaju ona će biti utvrđena na nulu.
Takva naknada će se obračunavati od Planiranog datuma povlačenja do Datuma povlačenja ili, u zavisnosti od slučaja, do datuma otkazivanja Prihvaćene tranše u skladu sa ovim Ugovorom.
"Prihvatanje povlačenja" znači kopiju Ponude o povlačenju xxxx xx propisno supotpisao Zajmoprimac.
"Krajnji rok za prihvatanje povlačenja" znači datum i vrijeme isteka Ponude za povlačenje, kako xx xxxxx naznačeno.
"Račun povlačenja" znači, u odnosu na svaku Tranšu, bankovni račun naveden u posljednjoj Listi ovlašćenih potpisnika i računa.
"Datum povlačenja“ znači datum xxxx xx izvršena isplata Tranše xx xxxxxx Xxxxx. "Ponuda o povlačenju" znači pismo suštinski u formi naznačenoj u Prilogu 0. "Spor" ima značenje koje mu xx xxxx u članu 11.2.
"Slučaj poremećaja” znači jedno od sljedećeg ili oboje:
materijalni poremećaj u onim sistemima plaćanja ili komunikacije ili na onim finansijskim tržištima koji, u svakom slučaju, treba da funkcionišu kako bi se izvršila plaćanja u vezi sa ovim Ugovorom; ili
nastanak drugog slučaja koji ima za posljedicu poremećaj (tehničke ili sistemski povezane prirode) u trezoru ili platnom prometu Banke ili Zajmoprimca, koji sprečava tu stranu da:
izvrši svoje obaveze plaćanja po osnovu ovog Ugovora; ili komunicira sa drugim stranama,
a koji poremećaj (bilo u slučaju pod (a) ili (b) xxxx) nije uzrokovan xx xxxxxx čije je funkcionisanje poremećeno niti je pod njenom kontrolom.
“Izjava EIB o društvenim i ekološkim principima i standardima“ znači izjavu xxxx xx objavljena na websajtu EIB-a, u kojoj su navedeni standardi koje Banka zahtijeva od projekata koji finansira i odgovornosti raznih strana.
"Kvalifikovana država" znači svaku državu navedenu u Aneksu III Odluke, xxxx xxxx biti povremeno izmijenjen i dopunjen xx xxxxxx Evropske komisije u skladu sa članovima 4(2) i 18 Odluke, ili svaku drugu državu u odnosu na koju su Evropski parlament i Savjet Evropske unije usvojili odluku u skladu sa članom 4(1) Odluke. "Kvalifikovani izdatak" znači ukupan trošak (uključujući troškove projektovanja i nadzora, ako su relevantni, i neto poreze i dažbine koje plaća Zajmoprimac) koji nastane za Zajmoprimca po osnovu Projekta, u vezi sa radovima, robom i uslugama koji se odnose na Programe navedene u Tehničkom opisu koji ispunjavaju uslove za kreditiranje po osnovu Kredita, koji su bili predmet jednog ili više ugovora sklopljenih pod uslovima prihvatljivim za Banku, uzimajući u obzir posljednje izdanje Bančinog
Vodiča za nabavke, xxxx xx objavljen na njenom vebsajtu. U cilju izračunavanja ekvivalenta u eurima bilo kojeg iznosa potrošenog u drugoj valuti, Xxxxx xx primjenljivati referentnu kursnu stopu obračunatu i objavljenu za tu valutu xx xxxxxx Evropske centralne banke na datum koji pada u roku od petnaest (15) xxxx prije datuma povlačenja kako odluči Banka (ili, u nedostatku takve stope, relevantnu kursnu stopu ili stope koje prevladavaju tada na bilo kojem finansijskom tržištu koje Banka razumno odabere).
"Životna sredina’’ znači sljedeće, u onoj mjeri u kojoj utiče na zdravlje ljudi i socijalnu dobrobit:
(a) fauna i flora;
(b) zemlja, voda, vazduh, xxxxx i pejzaž;
(c) kulturno nasljeđe; i
(d) izgrađena okolina.
"Studija procjene uticaja na životnu sredinu i društvo" ili “ESIA” znači studiju kao rezultat procjene uticaja na životnu sredinu i društvo kojom se identifikuju i procjenjuju potencijalni ekološki i društveni uticaji povezani sa predloženim projektom i kojom se preporučuju mjere da bi se izbjegli, minimizirali i/ili otklonili uticaji. Ova studija je u skladu sa Ekološkim i socijalnim standardima.
"Ekološka i socijalna dokumenta“ znači (a) bilo koai ili sve ESIA; (b) bilo koja ili sve Ekološke saglasnosti; (c) bilo koji ili svi RPF; (d) bilo koji ili svi ESMP; i (e) bilo koji ili svi RAP.
“Ekološki ili socijalni plan upravljanja” ili “ESMP” znači dokument koji se na odgovarajući način uključuje u dokumentaciju tendera za izvođenje radova, koja opisuje mjere, odgovornosti i indikatore uspjeha za dostizanje Ekoloških i socijalnih standarda tokom izgradnje Programa.
"Ekološki i socijalni standardi“ znači:
(a) Zakone o zaštiti životne sredine i zakone o društvu koji su primjenljivi na Projekat, Zajmoprimca i Promotera;
(b) Izjavu EIB o ekološkim i socijalnim principima i standardima;
(c) Ekološka i socijalna dokumenta.
"Ekološka saglasnost" znači znači dozvolu, licencu, ovlašćenje, saglasnost ili drugo odobrenje koje se traži zakonom o zaštiti životne sredine ili zakonom o društvu u vezi sa izgradnjom ili funkcionisanjem Projekta.
"Zahtjev po osnovu životne sredine ili društva" znači zahtjev, postupak, formalno obavještenje ili istragu xx xxxxxx bilo kog lica u vezi sa ekološkim ili socijalnim pitanjima koja se tiču projekta, uključujući kršenje ili navodno kršenje Ekoloških i socijalnih standarda.
"Zakon o životnoj sredini" znači:
pravo EU, uključujući principe i standarde, osim odstupanja koje je prihvatila Banka za svrhu ovog Ugovora na osnovu nekog sporazuma između Crne Xxxx i EU;
zakone i propise Crne Xxxx; i
međunarodne ugovore i konvencije koje je Crna Gora potpisala i ratifikovala ili koji su na drugi način primjenljivi i obavezujući za Crnu Goru,
a u svakom slučaju xxxx je glavni cilj očuvanje, zaštita i poboljšanje Životne sredine. "Garancija EU" ima značenje koje joj xx xxxx u Uvodnoj odredbi (e).
"Pravo EU" znači pravnu tekovinu (acquis communautaire) Evropske unije izraženu u Ugovorima Evropske unije, propisima, direktivama, delegiranim aktima, aktima za primjenu, i sudskom praksom Suda pravde Evropske unije.
"EUR” ili “euro” znači zakonsku valutu Država članica Evropske unije koje je usvoje ili su je usvojile kao svoju valutu u skladu sa relevantnim odredbama Ugovora o
Evropskoj uniji i Xxxxxxx o funkcionisanju Evropske unije ili ugovora koji uslijede nakon njih.
" EURIBOR’’ ima značenje kao što xx xxxx u 0.
"Slučaj neispunjavanja obaveza" znači bilo koju od okolnosti, slučajeva ili dešavanja koja su precizirana u članu 10.1.
"Konačni datum raspoloživosti” znači datum koji pada [5 (pet]) xxxxxx nakon datuma potpisivanja ovog Ugovora.
"Finansiranje terorizma“ znači obezbjeđivanje ili sakupljanje sredstava, na bilo xxxx xxxxx, direktno ili indirektno, sa namjerom da se koriste ili sa saznanjem da će se koristiti, u cjelini ili djelimično, da bi se izvršilo neko od krivičnih djela u smislu članova 1 do 4 Okvirne odluke Savjeta EU 2002/475/XXX xx 13. xxxx 2002. godine o borbi protiv terorizma.
"Fiksna xxxxx’’ znači godišnju kamatnu stopu koju povremeno određuje Banka u skladu sa primjenljivim principima definisanim xx xxxxxx upravnih tijela Banke za zajmove koji se odobravaju po fiksnoj kamatnoj stopi, denominisanu u valutu Tranše i koja nosi ekvivalentne uslove za otplatu glavnice i plaćanje xxxxxx. Takva xxxxx ne može imati negativnu vrijednost.
"Tranša sa fiksnom stopom’’ znači Tranšu na koju se primjenjuje fiksna xxxxx. "Varijabilna xxxxx’’ znači varijabilnu godišnju kamatnu stopu sa fiksnom maržom, koju određuje Banka za svaki uzastopni Referentni period varijabilne stope, ekvivalentnu EURIBOR- plus Marža. Ako je Varijabilna xxxxx za xxxx xxxx Referentni period varijabilne stope obračunata ispod nule, utvrdiće se na nulu.
"Referentni period varijabilne stope’’ znači svaki period od jednog Datuma plaćanja do narednog relevantnog Datuma plaćanja, a prvi Referentni period varijabilne stope počinje na datum povlačenja Tranše.
"Tranša sa varijabilnom stopom’’ znači Tranšu na koju se primjenjuje Varijabilna xxxxx.
"Okvirni sporazum" ima značenje dato u Uvodnoj odredbi (f).
"GAAP” znači generalno prihvaćene računovodstvene principe u Crnoj Gori, uključujući IFRS.
"Vodič za nabavku“ znači Vodič za nabavku objavljen na vebsajtu EIB-a kojim se obavještavaju promoteri projekata koji se finansiraju u cjelini ili djelimično xx xxxxxx EIB-a o aranžmanima koji se moraju sklopiti za nabavku radova, roba i usluga zahtijevanih Projektom.
"IFRS” znači međunarodne računovodstvene standarde u smislu MRS Regulative 1606/2002 u mjeri primjenljivoj na relevantne finansijske iskaze.
"ILO“ znači Međunarodna radnička organizacija.
"ILO standardi“ znači ugovor, konvenciju ili sporazum ILO koji su potpisani i ratifikovani xx xxxxxx Crne Xxxx ili su na drugi način primjenljivi i obavezujući za nju, i Osnovne radne standarde (kao što je definisano u Deklaraciji ILO o osnovnim principima i pravima na radu).
"Slučaj prijevremene otplate podložan obeštećenju” znači Slučaj prijevremene otplate osim onih preciziranih u stavovima 4.3.A(2) () ili 4.3.A(4) ().
"Revizija/konverzija xxxxxx” znači utvrđivanje novih finansijskih uslova za kamatnu stopu, tj. za istu osnovicu kamatne stope („revizija“) ili drugu osnovicu kamatne stope („konverzija“) koji se mogu ponuditi za preostalu ročnost Tranše ili do narednog Datuma revizije/konverzije xxxxxx.
"Datum revizije/konverzije xxxxxx” znači datum koji je Datum plaćanja, a koji odredi Banka u skladu sa članom 1.2.C u Ponudi o povlačenju.
"Predlog za reviziju/konverziju xxxxxx” znači predlog xx xxxxxx Xxxxx u skladu sa 0.
"Zahtjev za reviziju/konverziju xxxxxx” znači xxxxxx obavještenje od Zajmoprimca, koji se dostavi najmanje 75 (sedamdeset i pet) xxxx prije Datuma revizije/konverzije xxxxxx, kojim zahtijeva xx Xxxxx da mu dostavi Predlog za reviziju/konverziju xxxxxx. U Xxxxxxxx za reviziju/konverziju xxxxxx takođe se navodi sljedeće:
Datumi plaćanja odabrani u skladu sa odredbama člana 3.1;
Iznos Tranše na koju se Revizija/konverzija xxxxxx primjenjuje; i
naredni Datum revizije/konverzije xxxxxx odabran u skladu sa članom 3.1.
"Lista ovlašćenih potpisnika i računa" znači xxxxxx, po formi i suštini prihvatljiv za Banku, u kojem se navode:
(a) Ovlašćeni potpisnici, zajedno sa dokazima o ovlašćenju za potpisivanje osoba navedenih na spisku i preciziranjem imaju li pojedinačno ili zajedničko ovlašćenje za potpisivanje;
(b) primjerci potpisa takvih osoba; i
(c) bankovni račun(i) na koje se mogu izvršiti isplate po ovom Ugovoru (preciziran IBAN kodom ako je država uključena u IBAN Registar koji objavljuje SWIFT, ili u odgovarajućem formatu računa u skladu sa lokalnom bankarskom praksom), bančin BIC/SWIFT kod i ime korisnika jednog ili više bankovnih računa.
"Zajam” znači zbir iznosa koje Banka povremeno isplati po osnovu ovog Ugovora. "Nepodmireni zajam" znači zbir iznosa koje Banka povremeno isplati po osnovu ovog Ugovora koji ostaje nepodmiren.
"Mandat" ima značenje dato u Uvodnoj odredbi (c).
"Slučaj poremećaja na tržištu” znači bilo koju od sljedećih okolnosti:
po razumnom mišljenju Banke, postoje slučajevi ili okolnosti koji negativno utiču na pristup Banke svojim sredstvima finansiranja;
po mišljenju Banke, sredstva nijesu raspoloživa iz uobičajenih izvora finansiranja u cilju adekvatnog finansiranja Tranše u relevantnoj valuti i/ili za relevantno dospijeće i/ili vezano za profil otplate te Tranše; ili
u odnosu na Tranšu na koju bi kamata bila plativa po Varijabilnoj stopi:
troškovi Banke za dobijanje sredstava iz svojih izvora finansiranja, kako xx Xxxxx odredila, za period koji xx xxxxxx Referentnom periodu varijabilne stope te Tranše (tj. na tržištu novca) bi premašivali EURIBOR; ili
" Materijalno negativna promjena” znači slučaj ili promjenu stanja, koji, po mišljenju Banke imaju materijalno negativan uticaj na:
(a) sposobnost Zajmoprimca da izvršava svoje obaveze po osnovu ovog Ugovora;
(b) poslovanje, fumkcionisanje, imovinu, stanje (finansijsko ili drugo) ili izglede Zajmoprimca; i
(c) zakonitost, validnost ili izvršnost, ili djelotvornost ili rangiranje, ili vrijednost bilo koje garancije xxxx xx data Banci, ili prava ili pravnih ljekova Banke po ovom Ugovoru.
"Datum dospjeća" znači posljednji Datum otplate Tranše utvrđen na osnovu člana 4.1.A(iv) ili jedini Datum otplate Tranše utvrđen na osnovu člana 4.1.B.
"Pranje novca" znači:
(a) konverziju ili transfer imovine, znajući da ta imovina potiče iz kriminalne aktivnosti ili iz učešća u takvoj aktivnosti, u cilju skrivanja ili prikrivanja
nezakonitog porijekla xxxxxxx ili pomaganje nekoj osobi xxxx xx uključena u vršenje takvog djela da izbjegne pravne posljedice svoje radnje;
(b) skrivanje ili prikrivanje prave prirode, izvora, lokacije, rasporeda, kretanja, prava u vezi sa imovinom ili vlasništva nad njom, znajući da ta imovina potiče iz kriminalne aktivnosti ili iz učešća u takvoj aktivnosti;
(c) sticanje, posjedovanje ili korišćenje imovine, znajući, u vrijeme dobijanja, da ta imovina potiče iz kriminalne aktivnosti ili iz učešća u takvoj aktivnosti, ili
(d) učešće u, pomaganje u vršenju, pokušaji da se počini ili pomogne, podstakne, olakša i savjetuje izvršenje neke od radnji koje su pomenute u prethodnim tačkama.
"Datum plaćanja’’ znači godišnje, polugodišnje ili kvartalne datume određene u Ponudi o povlačenju do i uključujući Datum revizije/konverzije xxxxxx, ako ga ima, ili Datuma dospjeća, osim što u slučaju ako takav datum nije Relevantni radni xxx, onda znači:
(a) za Tranšu sa fiksnom stopom, naredni Relevantni radni xxx, bez usklađivanja sa kamatom xxxx xxxxx da xx xxxxx po članu 3.1; 3.01 osim za one slučajeve kada se otplata vrši:
(i) u cjelosti i u vezi sa Revizijom/Konverzijom xxxxxx u skladu sa 0, xxxxx C; ili
(ii) u jednoj rati u skladu sa članom 4.1.B, i samo na posljednje plaćanje xxxxxx, xxxx znači prethodni Relevantni radni xxx sa usklađivanjem dospjele xxxxxx po članu 3.1; i
"Iznos prijevremene otplate’’ znači iznos Tranše koji Zajmoprimac prijevremeno otplati u skladu sa članom 4.2.A ili članom 4.3.A, xxxx xx primjenljivo.
"Datum prijevremene otplate’’ znači datum koji je Datum plaćanja, kada Zajmoprimac predlaže ili Banka od njega zahijeva da izvrši prijevremeno plaćanje Iznosa prijevremene otplate.
"Slučaj prijevremene otplate“ znači neki od slučajeva koji su opisani u članu 4.3.A. "Obeštećenje za prijevremenu otplatu” znači u odnosu na bilo koji iznos glavnice koji se prijevremeno otplati ili otkaže, iznos o kojem Banka obavijesti Zajmoprimca kao sadašnju vrijednost (obračunatu na Datum prijevremene otplate ili na datum otkazivanja u skladu sa članom 1.6.C(2)) ) viška, ukoliko ga ima, od:
(a) kamate koja bi se obračunala nakon toga na Iznos prijevremene otplate za period od Datuma prijevremene otplate ili datuma otkazivanja u skladu sa članom 1.6.C(2) do Datuma revizije/konverzije xxxxxx, ako ga ima, ili Datuma dospjeća, ukoliko nije izvršena prijevremena otplata; preko
(b) kamate koja bi se tako obračunala za taj period, da je obračunata po Stopi prenamjene, manje 0,15% (petnaest baznih poena).
Pomenuta sadašnja vrijednost se obračunava po diskontnoj stopi xxxx xx jednaka Stopi prenamjene, koja se primjenjuje na svaki relevantni Datum otplate.
"Obavještenje o prijevremenoj otplati“ znači xxxxxx obavještenje Banke Zajmoprimcu u skladu sa članom 4.2.C.
"Zahtjev za prijevremenu otplatu’’ znači xxxxxx zahtjev Zajmoprimca Banci da prije vremena otplati xxxx ili dio Nepodmirenog Zajma, u skladu sa članom 4.2.A.
"Zabranjeno djelovanje" znači Finansiranje terorizma, Pranje novca ili Zabranjeno postupanje.
"Zabranjeno postupanje“ znači:
(a) Prisilne radnje, koje predstavljaju narušavanje ili povredu, ili prijetnju da će se narušiti ili povrijediti, direktno ili indirektno, neka strana ili imovina strane kako bi se neprimjereno uticalo na radnje strane;
(b) Radnje dosluha, koje predstavljaju aranžman između dvije ili više strana sa ciljem da se postigne nepropisna svrha, uključujući neprimjereno uticanje na radnje druge strane;
(c) Koruptivne radnje, koje predstavljaju nuđenje davanje, primanje ili traženje, direktno ili indirektno, nečega vrijednog od jedne strane da bi se neprimjereno uticalo na radnje druge strane;
(d) Prevarne radnje, koje predstavljaju činjenje ili nečinjenje, uključujući obmanu, kojom se strana svjesno ili bezobzirno zavodi, ili pokušava da zavede kako bi se stekla finansijska ili druga korist ili izbjegla obaveza; ili
(e) Ometajuće radnje, koje predstavljaju u vezi sa istragom prisilnih, radnji dosluha, koruptivnih ili prevarnih radnji u vezi sa ovim Zajmom ili Projektom, (a) namjerno uništavanje, falsifikovanje, izmjenu ili prikrivanje materijalnih dokaza u istrazi; i/ili prijetnju, uznemiravanje ili zastrašivanje bilo koje strane kako bi se spriječila da otkrije svoja saznanja o stvarima relevantnim za istragu ili da obavlja istragu, ili (b) radnje xxxx je cilj da materijalno ometaju ostvarivanje ugovornih prava ravizije ili pristupa informacijama.
"Projekat’’ ima značenje kao što xx xxxx u Uvodnoj odredbi (a).
“Xxx za implementaciju Projekta” znači xxx profesionalnog i osoblja za podršku sa neophodnim administrativnim ovlašćenjima kao i fizičkim i finansijskim resursima neohodnim za implementaciju Projekta.
"Promoter" ima značenje koje mu xx xxxx u Uvodnoj odredbi (a).
"Xxxxx prenamjene’’ znači fiksnu godišnju stopu koju određuje Banka, odnosno xxxxx xxxx bi Banka primijenila na xxx obračuna obeštećenja na zajam koji ima istu valutu i iste uslove plaćanja xxxxxx i isti profil otplate na Datum revizije/konverzije xxxxxx, ako ga ima, ili Datum dospjeća kao Tranša za koju se prijevremena otplata ili otkazivanje predlaže ili zahtijeva. Takva xxxxx ne može imati negativnu vrijednost. "Relevantni radni xxx’’ znači xxx xxxx je platni sistem Transevropskog automatizovanog trenutnog ekspresnog prenosa bruto obračuna plaćanja, koji koristi jedinstvenu zajedničku platformu i koji je pokrenut 19. novembra 2007. (TARGET 2) otvoren za obračun plaćanja u eurima.
"Relevantna međubankarska xxxxx” znači EURIBOR.
"Datum otplate" znači svaki od Datuma plaćanja naveden za otplatu glavnice Tranše u Ponudi o povlačenju, u skladu sa kriterijumima postavljenim u članu 4.1.
"Datum zahtijevanog odloženog povlačenja" ima značenje koje mu xx xxxx u članu 1.5.A(1)(b).
“Akcioni plan preseljenja” ili “RAP” znači detaljan plan, usklađen sa RPF i prihvatljiv Banci, u vezi sa programom gdje se zahtijeva nedobrovoljno preseljenje.
“Okvirna politika preseljenja” ili “RFP” znači politiku usklađenu sa Ekološkim i socijalnim standardima i dogovorenu sa bankom na xxx [] i koja može biti povremeno mijenjana po dogovoru Zajmoprimca i Banke.
“Kaznene liste“ znači:
(a) ekonomske, finansijske i trgovinske restriktivne mjere i embarga na oružje koje je naložila Evropska unija u skladu sa Poglavljem 2 Glava V Ugovora o Evropskoj Uniji kao i člana 215 Ugovora o funkcionisanju Evropske Unije, uključujući ali se ne ograničavajući na one dostupne na zvaničnim vebsajtovima EU xxxx://xx.xxxxxx.xx/xxxxxxxx_xxxxxxxxx/xxxx/xxxxxxxxx/xxxxxx-xxxx_xx.xxx i xxxx://xxxx.xxxxxx.xx/xxxx/xxxxxxxxx/xxxx/xxxxxxxx_xx.xxx, koje mogu biti povremeno izmijenjene i dopunjene ili na bilo kojoj stranici koja ih naslijedi; ili,
(b) ekonomske, finansijske i trgovinske restriktivne mjere i embarga na oružje koje je naložio Savjet bezbjednosti Ujedinjenih nacija u skladu sa članom 41 Povelje UN, uključujući ali se ne ograničavajući na one dostupne na zvaničnom vebsajtu UN xxxx://xxx.xx.xxx/Xxxx/xx/xxxxxxxxxx/XXXXX.xxx, koji mogu biti povremeno izmijenjene i dopunjene ili na bilo kojoj stranici koja ih naslijedi.
"Sankcionisana lica“ znači bilo koji pojedinac ili subjekat koje se nalazi na jednoj ili više Kaznenih listi.
"Planirani datum povlačenja” znači datum xxxx xx Xxxxxx planirana za povlačenje u skladu sa članom 1.2.B.
"Obezbjeđenje" znači svaku hipoteku, jemstvo, zalogu, teret, ustupanje, hypotekaciju, ili drugo sredstvo obezbjeđenja kojim se obezbjeđuje bilo koja obaveza bilo kog lica ili bilo koji drugi sporazum ili aranžman koji ima slične posljedice.
“Program 1” znači program 1 Projekta opisan u Tehničkom opisu.
“Programi” znači kolektivno sve programe Projekta koji se sastoji od programa 1,
programa 2, programa 3, programa 4, i programa 5, kao što je svaki opsian u
Tehničkom opisu.
“Društveno pravo” znači svaki od:
(a) zakona, pravila ili propisa koji su u primjeni u Crnoj Gori a tiču se Socijalnih pitanja;
(b) standarda ILO;
(c) ugovora, konvencija ili sporazuma o ljudskim pravima Ujedinjenih nacija koje je Crna Gora potpisala i ratifikovala ili su na drugi način primjenljivi i obavezujući za nju. "Socijalna pitanja“ znači sve, ili neki od, sljedećih: (i) uslovi za rad i zapošljavanje,
(ii) zdravlje i bezbjednost na radu, (iii) zaštita i sprovođenje prava i interesa autohtonih naroda, etničkih manjina i ranjivih grupa, (iv) kulturno nasljeđe (materijalno i nematerijalno), (v) javno zdravlje, bezbjednost i sigurnost, (vi) prinudno fizičko preseljavanje i/ili ekonomsko izmještanje i gubitak xxxxxxx xxxxx; i (vii) javno učešće i angažovanje zainteresovanih strana.
"Marža’’ znači fiksnu maržu (bilo pozitivne ili negativne vrijednosti) na EURIBOR koju odredi Banka i o kojoj obavijesti Zajmoprimca u relevantnoj Ponudi o povlačenju ili Predlogu za reviziju/konverziju xxxxxx.
"Porez“ znači porez, dažbinu, namet, taksu ili drugu naknadu ili zadržavanje slične prirode (uključujući penale ili xxxxxx plative u vezi sa neplaćanjem ili kašnjenjem u plaćanju bilo koje od njih).
"Tehnički opis’’ ima značenje koje mu xx xxxx u Uvodnoj odredbi (a).
ČLAN 1
Kredit i povlačenja
1.1 Iznos Kredita
Ovim Ugovorom Banka određuje u korist Zajmoprimca, a Zajmoprimac prihvata, kredit u iznosu od 40.000.000EUR (četrdeset miliona xxxx) za finansiranje Projekta (‘’Kredit’’).
1.2 Postupak povlačenja
1.2.A Tranše
Xxxxx xx isplatiti Kredit u do 8 (osam) Tranši. Iznos svake tranše je minimalno 5.000.000EUR (pet miliona xxxx) ili (ako xx xxxxx) cio nepovučeni saldo Kredita.
1.2.B Ponuda o povlačenju
Po zahtjevu Zajmoprimca (u kojem se, pored ostalog, preciziraju Program(i) koji bi se finansirali predloženim povlačenjem) i u skladu sa članom 1.4.A, pod uslovom da nije nastao slučaj pomenut u članu 1.5 ili članu 1.6.B i da ne traje, Xxxxx xx dužna da pošalje Zajmoprimcu u roku od 5 (pet) Radnih xxxx od prijema takvog zahtjeva Ponudu o povlačenju za isplatu Tranše. Krajnji rok prijema takvog Zajmoprimčevog zahtjeva xx xxxxxx Xxxxx xx 15 (petnaest) Radnih xxxx prije Konačnog datuma raspoloživosti. U Ponudi o povlačenju se navodi:
(a) iznos Tranše u EUR;
(b) Planirani datum povlačenja, koji je Relevantni Radni xxx, koji pada najmanje 10 (deset) xxxx xxxxx datuma Ponude o povlačenju i na ili prije Konačnog datuma raspoloživosti;
(d) Datume plaćanja i prvi Datum plaćanja xxxxxx za Tranšu;
(e) uslove za otplatu glavnice Tranše, u skladu sa odredbama člana 4.1;
(f) Datume otplate i prvi i posljednji Datum otplate za Tranšu, ili jedan Datum otplate;
(g) Datum revizije/konverzije xxxxxx, ako to zahtijeva Zajmoprimac, za Tranšu;
(h) za Tranšu sa fiksnom stopom, Fiksnu stopu a za Tranšu sa varijabilnom stopom Maržu, primjenljivu do Datuma revizije/konverzije xxxxxx, ako ga ima, ili do Datuma dospjelosti; i
(i) Krajnji rok za prihvatanje povlačenja.
1.2.C Prihvatanje povlačenja
Ako je Ponuda o povlačenju propisno prihvaćena od Zajmoprimca u skladu sa njenim uslovima na ili prije isteka Krajnjeg roka za prihvatanje povlačenja, Xxxxx xx staviti na raspolaganje Prihvaćenu tranšu Zajmoprimcu u skladu sa relevantnom Ponudom o povlačenju i zavisno od uslova ovog Ugovora.
Smatra se da je Zajmoprimac odbio Ponudu o povlačenju ako je nije propisno prihvatio u skladu sa uslovima iz nje na xxx ili prije isteka Krajnjeg roka za prihvatanje povlačenja.
1.2.D Račun povlačenja
Isplata se vrši na Račun povlačenja naveden u relevantnom Prihvatanju povlačenja, pod uslovom da je takav Račun povlačenja prihvatljiv Banci.
Bez obzira na član 5.2(e), Zajmoprimac priznaje da isplate na Račun povlačenja o kojem je Xxxxxxxxxxx dao obavještenje predstavljaju isplate po ovom ugovoru xxx xx xx izvršene na Zajmorimčev bankovni račun.
Samo jedan Račun povlačenja može biti naveden za svaku Tranšu.
1.3 Valuta povlačenja
Banka isplaćuje svaku tranšu u eurima.
1.4 Uslovi povlačenja
1.4.A Xxxxx koji prethodi prvom zahtjevu za Ponudu o povlačenju
Banka prima od Zajmoprimca po formi i sadržini zadovoljavajuće za Banku:
(a) dokaz da je potpisivanje ovog Ugovora xx xxxxxx Zajmoprimca propisno odobreno i da je lice ili više njih u ime Zajmoprimca propisno ovlašćeno da to uradi, zajedno sa primjerkom potpisa svake takve osobe ili više njih; i
(b) Listu Ovlašćenih potpisnika i računa;
prije zahtjeva za Ponudu o povlačenju po članu 1.2.B xx xxxxxx Zajmoprimca. Svaki zahtjev za Ponudu o povlačenju koji podnese Zajmoprimac a da Banka nije primila pomenute dokumente ili da joj nisu prihvatljivi, smatraće se da nije podnijet.
1.4.B Prva tranša
Uslov povlačenja prve Tranše prema članu 1.2 je da xx Xxxxx primila, na ili prije datuma koji pada 5 (pet) Radnih xxxx prije Planiranog datuma povlačenja (i u slučaju odlaganja po članu 1.5, Datuma zahtijevanog odlaganja povlačenja ili Datuma dogovorenog odlaganja povlačenja, respektivno), po formu i suštini za nju prihvatljive sljedeće dokumente ili dokaze:
(a) dokaz da su Zajmoprimac i Promoter pribavili sva neophodna Ovlašćenja, koja su potrebna u vezi sa ovim Ugovorom i Projektom;
(b) pravno mišljenje koje je izdao Zaštitinik imovinsko pravnih interesa Crne Xxxx, kojim se, između ostalog, potvrđuje da je:
(i) zaključivanje ovog Ugovora i njegovo potpisivanje xx xxxxxx Ministra finansija Crne Xxxx propisno odobreno odlukom Xxxxx Xxxxxxxxxxx;
(ii) validan izbor prava Luksemburga kao mjerodavnog prava za ovaj Ugovor;
(iii) validan izbor jurisdikcije Suda pravde Evropske unije po ovom Ugovoru, i priznanje i izvršenje presuda Suda pravde Evropske unije u svakom postupku koji se vodi u Crnoj Gori;
(iv) Ugovor valjano potpisan, da je u cjelosti valjan i proizvodi pravne posljedice, važeći, obavezujući, i izvršan u skladu sa svojim uslovima;
(v) finansiranje Projekta obuhvaćeno područjem primjene Okvirnog sporazuma; i
(vi) ne postoje ograničenja devizne kontrole niti su potrebne saglasnosti za omogućavanje prijema svih iznosa koji xxxxx xx xxxx isplaćeni prema ovom Ugovoru na poseban račun iz člana 1.02(D) i za omogućavanje otplate Zajma i plaćanje xxxxxx i svih drugih iznosa koji dospijevaju prema ovom Ugovoru;
(e) Zajmoprimac preduzeo sve potrebne radnje za izuzimanje od oporezivanja svih isplata glavnice, xxxxxx ili drugih iznosa dospjelih po ovom Ugovoru i da omogući plaćanje svih takvih iznosa bruto bez odbijanja poreza na izvoru; i
(c) dokaz da su sve saglasnosti devizne kontrole određene xx Xxxxx ili naznačene u pravnom mišljenju iz gornjeg [stava (iii)] kao neophodne dobijene kako bi se dozvolilo Zajmoprimcu da primi isplate xxxx xx predviđeno u ovom Ugovoru, da otplati Zajam i xxxxx xxxxxx i sve xxxxx iznose plative po ovom ugovoru.
1.4.C Sve Tranše
Isplata svake tranše prema članu 1.2, 1.02, uključujući prvu, zavisi od sljedećih uslova:
(a) da xx Xxxxx primila, na ili prije datuma koji pada 5 (pet) Radnih xxxx prije Planiranog datuma povlačenja (i u slučaju odlaganja po članu 1.5, Datuma zahtijevanog odlaganja povlačenja ili Datuma dogovorenog odlaganja povlačenja, respektivno) predložene Tranše, po formu i suštini za Banku prihvatljive sljedeće dokumente ili dokaze:
(i) potvrda od Zajmoprimca u formi iz Priloga 0, xxxx xx potpisao ovlašćeni predstavnik Zajmoprimca sa datumom koji ne pada ranije od 15 (petanest) xxxx prije Planiranog datuma za isplatu (i u slučaju odlaganja po članu 1.5, Datuma zahtijevanog odlaganja povlačenja ili Datuma dogovorenog odlaganja povlačenja, respektivno);
(ii) dokaz kojim se pokazuje da, nakon povlačenja relevantne Xxxxxx, iznos Zajma ne premašuje ukupne Kvalifikovane izdatke nastale ili ugovorno opredijeljene xx xxxxxx Zajmoprimca po osnovu Projekta do datuma relevatne Ponude o povlačenju;
(iii) kopija bilo kojeg drugog ovlašćenja ili drugog dokumenta, mišljenja ili uvjerenja o kojima Banka obavijesti Zajmoprimca da su neophodni ili poželjni u vezi sa zaključivanjem i realizacijom ovog Ugovora i transakcijama predviđenim u njemu, ili njegovom zakonitošću, validnošću, obaveznošću i izvršivošću;
(iv) dokaz da xx Xxx za implementaciju Projekta i xxx za nadzor radova u funkciji sa sa opisom poslova, osobljem, resursima i tehničkom pomoći, da je sve ovo prihvatjivo Banci posebno xxxx xx riječ o aspektima životne sredine i društva;
(v) osim posljednje Tranše, dokaz da će za Zajmoprimca ili Promotera nastati Kvalifikovani izdaci najmanje u iznosu jednakom zbiru 80% (osamdeset odsto) od iznosa Tranše koja se isplaćuje i 100% (stotinu odsto) iznosa svih prethodno isplaćenih Tranši, u roku od 180 (stotinuosamdeset) xxxx xxxxx Datuma planiranog povlačenja relevantne tranše.
(b) Da xx Xxxxx prihvatljivo na datum relevantnog Zahtjeva za povlačenje i Datum Povlačenja predložene Tranše:
(i) da su sve činjenice i izjave sadržane u Uvodnim odredbama istinite i tačne u svakom smislu;
(ii) da je Garancija EU zakonita, validna, obavezujuća i izvršna i da xxxx xxxxxxx nijedan slučaj niti okolnost koji mogu, po mišljenju Banke, negativno uticati na zakonitu, validnu, obavezujuću i izvršnu prirodu Garancije EU, njenu primjenljivost na svaku Tranšu po ovom Ugovoru ili na pravo Banke da podnese zahtjev po Garanciji EU;
(iii) da je Crna Gora Kvalifikovana država; i
(iv) da je Okvirni sporazum zakonit, validan, obavezujući i izvršan i da xxxx xxxxxxx nijedan slučaj niti okolnost koji mogu, po mišljenju Banke, negativno uticati na zakonitu, validnu, obavezujuću i izvršnu prirodu Okvirnog sporazuma; i
(c) da na Planirani datum povlačenja (i u slučaju odlaganja po članu 1.5, na Datum zahtijevanog odlaganja povlačenja ili Datum dogovorenog odlaganja povlačenja, respektivno) za predloženu Tranšu:
(i) tvrdnje i garancije koje se ponavljaju u skladu sa članom 6.11 su tačne po svim osnovama; i
(ii) nijedan slučaj niti okolnost koji predstavljaju ili bi protekom vremena ili dostavljanjem obavještenja po ovom Ugovoru predstavljali:
(1) Slučaj neispunjenja obaveze; ili
(2) Slučaj prijevremene otplate,
nije nastao niti nastavlja da traje bez ispravljanja ili odricanja niti bi bio rezultat isplate predložene Tranše.
1.4.D Dodatni prethodni uslovi
Bez uticaja na prethodne članove 1.4.A, 1.4.B i 1.4.C i pored uslova u njima;
(a) uslov za prvu isplatu Tranše xxxx xx biti iskorišćena u cjelosti ili djelimićno za finansiranje Programa 1 je da xx Xxxxx primila, na ili prije datuma koji pada 5 (pet) Radnih xxxx prije Planiranog datuma povlačenja (i u slučaju odlaganja po članu 1.5, Datuma zahtijevanog odlaganja povlačenja ili Datuma dogovorenog odlaganja povlačenja, respektivno) predložene Xxxxxx, po formi i suštini za Banku prihvatljive:
(iv) kopiju ESIA izvještaja i njen ne-tehnički rezime;
(v) dokaz da su dobijene Ekološke saglasnosti od Nadležnog organa u odnosu na Projekat;
(vi) dokaz da su završene javne konsultacije u postupku ESIA i objavljene Ekološke saglasnosti,
(b) uslov za isplatu svake Tranše xxxx xx biti iskorišćena u cjelosti ili djelimično za finansiranje bilo kojeg Programa je da xx Xxxxx primila, na ili prije datuma koji pada 5 (pet) Radnih xxxx prije Planiranog datuma povlačenja (i u slučaju odlaganja po članu 1.5, Datuma zahtijevanog odlaganja povlačenja ili Datuma dogovorenog odlaganja povlačenja, respektivno) predložene Xxxxxx, po formi i suštini za Banku prihvatljive:
(iv) kopiju RAP ili dokaz da nema prinudnog preseljanja na programu;
(v) ESMP; i
(vi) Dokaz da je primjena RAP i ESMP u skladu sa dogovorenim vremenskim rasporedom,
u svakom slučaju u odnosu na Program(e) na koje se Ponuda o povlačenju odnosi.
1.5 Odlaganje isplate
1.5.A Razlozi za odlaganje
1.5.A(1) ZAHTJEV ZAJMOPRIMCA
Zajmoprimac može poslati Banci zahtjev u pisanoj formi kojim traži odlaganje isplate Prihvaćene Xxxxxx. Xxxxxx zahtjev Banka xxxx xxxxxxx najmanje 5 (pet) Radnih xxxx prije Planiranog datuma povlačenja Prihvaćene tranše i u njemu se precizira:
(a) da li bi Zajmoprimac htio da odloži isplatu u cjelosti ili djelimično, a ako djelimično, iznos koji se odlaže; i
(b) datum do kojeg bi Zajmoprimac htio da odloži isplatu xxxx navedenog iznosa (“Zahtijevani datum odložene isplate”), xxxx xxxx biti datum koji pada ne kasnije od:
(iv) 6 (šest) mjeseci od Planiranog datuma isplate; i
(v) 30 (trideset) xxxx prije prvog Datuma otplate; i
(vi) Konačnog datuma raspoloživosti.
Po prijemu takvog pisanog zahtjeva, Banka odlaže isplatu relevantnog isznosa do Zahtijevanog datuma odložene isplate.
1.5.A(2) NEISPUNJAVANJE USLOVA ZA POVLAČENJE
(a) Povlačenje Prihvaćene tranše se odlaže ako bilo koji od uslova za isplatu takve Prihvaćene tranše predviđen u članu 1.4 nije ispunjen i na:
(i) datum naveden za ispunjenje takvog uslova u članu 1.4; i na
(ii) svoj Planirani datrum povlačenja (ili, gdje je Planirani datum povlačenja bio ranije odložen, očekivani datum za isplatu).
(b) Banka i Zajmoprimca dogovaraju datum do kojeg se isplata takve Prihvaćene tranše odlaže ("Dogovoreni datum odlaganja povlačenja"), xxxx xxxx biti datum koji pada:
(i) ne prije isteka 7 (xxxxx) Radnih xxxx xxxxx ispunjenja svih uslova za isplatu; i
(ii) ne kasnije od Konačnog datuma raspoloživosti.
(c) Bez uticaja na pravo Banke da suspenduje i/ili otkaže nepovučeni dio kredita u cjelini ili djelimično u skladu sa članom 1.6.B, Banka odlaže isplatu takve Prihvaćene tranše do Dogovorenog datuma odloženog povlačenja.
1.5.A(3) OBEŠTEĆENJE ZA ODLAGANJE
Ako se povlačenje Prihvaćene tranše odlaže u skladu sa stavovima 1.5.A(1) ili 1.5.A(2) xxxx, Zajmoprimac plaća Obeštećenje za odlaganje.
1.5.B Otkazivanje povlačenja odloženog za 6 (šest) mjeseci
Ako je povlačenje odloženo za više od 6 (šest) mjeseci ukupno u skladu sa članom 1.5.A, Banka može obavijestiti Zajmoprimca u pisanoj formi da je takva isplata otkazana i da to otkazivanje stupa na snagu na datum takvog pisanog obavještenja. Iznos povlačenja koje xx Xxxxx otkazala u skladu sa ovim članom 1.5.B ostaje raspoloživ za povlačenje po članu 1.2.
1.6 Otkazivanje i suspenzija
1.6.A Pravo Zajmoprimca na otkazivanje
Zajmoprimac može poslati xxxxxx obavještenje Banci u kojem traži otkazivanje nepovučenog dijela Kredita. Xxxxxx obavještenje:
(a) xxxx navesti da li bi Zajmoprimac htio da otkaže nepovučeni dio Xxxxxxx u cjelosti ili djelimično, i ako djelimično, iznos Kredita koji bi Zajmoprimac htio da otkaže; i
(b) ne smije se odnositi na
(i) Prihvaćenu xxxxxx xxxx Planirani datum povlačenja pada u roku od 5 (pet) Radnih xxxx od datuma obavještenja.
Po prijemu takvog pisanog obavještenja, Bank otkazuje zahtijevani nepovučeni dio Xxxxxxx, sa trenutnim dejstvom.
1.6.B Pravo Banke na suspenziju i otkazivanje
(a) Banka može obavijestiti Zajmopimca u pisanoj formi da se nepovučeni dio Kredita suspenduje i/ili (osim nastanka Slučaja poremećaja na tržištu) otkazuje u cjelosti ili djelimično u svakom trenutku nakon što nastanu sljedeći slučajevi:
(i) Slučaj prijevremene otplate;
(ii) Slučaj neispunjavanja obaveza;
(iii) slučaj ili okolnost koje bi protekom vremena ili dostavljanjem
obavještenja po ovom Ugovoru predstavljali Slučaj prijevremene otplate ili Slučaj neispunjenja obaveza;
(iv) ako Crna Gora više nije kvalifikovana država za aktivnosti prema Mandatu; ili
(v) Slučaj poremećaja na tržištu pod uslovom da Banka nije primila Prihvatanje povlačenja.
(b) Na datum takvog pisanog obavještenja, relevantni nepovučeni dio Xxxxxxx se suspenduje i/ili otkazuje sa trenutnim dejstvom. Suspenzija traje xxx Xxxxx ne okonča suspenziju ili ne otkaže suspendovani iznos.
1.6.C Obeštećenje za suspenziju i otkazivanje Tranše
1.6.C(1) SUSPENZIJA
Ako Banka suspenduje Prihvaćenu Tranšu, bilo nakon Slučaja prijevremene otplate za koji se plaća obeštećenje ili Slučaja neispunjenja obaveza, Zajmoprimac xx xxxxx xx xxxxx Banci Obeštećenje za odlaganje koje se obračunava na iznos suspendovanog povlačenja.
1.6.C(2) OTKAZIVANJE
(A) AKO PRIHVAĆENU TRANŠU XXXX XX TRANŠA SA FIKSNOM STOPOM OTKAŽE:
(i) Zajmoprimac u skladu sa članom 1.6.A;
(ii) Banka nakon Slučaja prijevremenog plaćanja podložnog plaćanju obeštećenja ili nakon nastanka Slučaja negativne materijalne promjene ili u skladu sa članom
Zajmoprimac xx xxxxx xx xxxxx Banci Obeštećenje za prijevremeno plaćanje. Obeštećenje za prijevremeno plaćanje se obračunava kao da je otkazani isnos povučen i otplaćen na Planirani datum povlačenja ili, u mjeri u kojoj je povlačenje Xxxxxx trenutno odloženo ili suspendovano, na datum obavještenja o otkazivanju.
(c) Osim u prethodno navedenim slučajevima (a) ili (b), nakon otkazivanja Tranše ne plaća se obeštećenje.
1.7 Otkazivanje nakon Konačnog datuma raspoloživosti
Na datum koji slijedi nakon Konačnog datuma raspoloživosti, i ako xx Xxxxx nije drugačije izričito saglasila u pisanoj formi, dio Kredita po osnovu kojeg nije primljeno Prihvatanje povlačenja u skladu sa članom 1.2.C automatski se otkazuje, bez dostavljanja obavještenja Zajmoprimcu xx xxxxxx Xxxxx i bez nastanka odgovornosti za bilo koju stranu.
1.8 Iznosi dospjeli prema članu 1.5 i 1.6
Iznosi dospjeli prema članovima 1.5 i 1.6 plativi su u eurima. Iznosi dospjeli prema članovima 1.5 i 1.6 plativi su u roku od 15 (petnaest) xxxx od Zajmoprimčevog prijema Bančinog zahtjeva ili u okviru bilo kojeg dužeg perioda navedenog u Bančinom zahtjevu.
ČLAN 2
Zajam
2.1 Xxxxx Xxxxx
2.2 Valuta otplate, xxxxxx i drugih troškova
Plaćanje xxxxxx, otplate i drugih naknada plativih po osnovu svake Tranše vrši Zajmoprimac u valuti povlačenja Tranše.
Drugo plaćanje, ako ga ima, vrši se u valuti koju odredi Banka imajući u vidu valutu izdataka koji se podmiruju xxx plaćanjem.
2.3 Potvrda Banke
Banka dostavlja Zajmoprimcu plan otplate iz člana 4.1, ako je odgovarajuće, koja pokazuje datum povlačenja, valutu i iznos povlačenja, uslove otplate i kamatnu stopu za tu Tranšu.
ČLAN 3
Kamata
3.1 Kamatna xxxxx
3.1.A Tranše sa fiksnom stopom
Zajmoprimac plaća kamatu na nepodmireni ostatak svake Tranše sa fiksnom stopom po Fiksnoj stopi kvartalno, polugodišnje ili godišnje po obračunu na odgovarajuće Datume plaćanja, xxxx xx navedeno u Ponudi o povlačenju, na prvi takav Datum plaćanja koji slijedi nakon Datuma povlačenja Tranše. Ako je period od Datuma povlačenja do prvog Datuma plaćanja petnaest (15) xxxx ili manje onda će plaćanje xxxxxx obračunate u toku tog perioda biti odloženo do narednog Datuma plaćanja.
Kamata će se izračunavati na osnovu člana 5.1(a)
3.1.B Tranše sa varijabilnom stopom
Zajmoprimac xx xxxxx da plaća kamatu na nepodmireni ostatak svake Tranše sa varijabilnom stopom po varijabilnoj stopi kvartalno, polugodišnje ili godišnje po obračunu na odgovarajuće Datume plaćanja, xxxx xx navedeno u Ponudi o povlačenju, s početkom na prvi takav Datum plaćanja koji slijedi nakon Datuma
povlačenja Tranše. Ako period od Datuma povlačenja do prvog Datuma plaćanja je petnaest (15) xxxx ili manje onda će se plaćanje xxxxxx obračunate u toku tog perioda biti odloženo do narednog Datuma plaćanja.
Xxxxx xx dužna da obavijestiti Zajmoprimca o Varijabilnoj stopi u roku od 10 (deset) xxxx xxxxx početka svakog Referentnog perioda promjenjive stope.
Iko se u skladu sa članovima 1.5 i 1.6 povlačenje bilo koje Tranše sa varijabilnom stopom izvrši nakon Planiranog datuma povlačenja, XXXXXXX primjenljiv na prvi Referentni period varijabilne stope primjenjuje xx xxx da je povlačenje izvršeno na Planirani datum povlačenja.
Kamata će se izračunavati u odnosu na svaki Referentni period varijabilne stope na osnovu člana 5.1.(b)
3.1.C Revizija ili Konverzija Tranši
3.2 Zatezna kamata
Bez uticaja na Article 10 i izuzimajući član 3.1, ako Zajmoprimac ne plati bilo koji iznos koji xxxxx xx xxxxx po ovom Ugovoru na datum njegovog dospjeća, kamata se obračunava na svaki zakašnjeli iznos plativ prema odredbama ovog Ugovora od datuma dospjeća do datuma isplate po godišnjoj stopi xxxx xx jednaka:
(a) za zakašnjele iznose koji se odnose na Tranše sa varijabilnom stopom, primjenljivoj varijabilnoj stopi plus 2% (200 baznih poena);
(b) za zakašnjele iznose koji se odnose na Tranše sa fiksnom stopom, većoj od
(i) primjenljive fiksne stope plus 2% (200 baznih poena);
(ii) EURIBORa plus 2% (200 baznih poena); i
(c) za zakašnjele iznose koji ne spadaju pod (a) ili (b) xxxx, EURIBOR plus 2% (200 baznih poena),
i plativa je u skladu sa zahtjevom Banke. U svrhu određivanja XXXXXXX u odnosu na ovaj član 3.2, relevantni periodi u smislu 0 su sukcesivni periodi od jednog mjeseca, koji počinju na datum dospjelosti. Nepodmirena a dospjela kamata može se kapitalizovati u skaldu sa članom 1154 Građanskog zakonika Luksemburga. Da bi se izbjegla nedoumica, kapitalizacija xxxxxx nastaje samo za nepodmirenu dospjelu kamatu za period koji xx xxxx od jedne godine. Zajmoprimac se unaprijed saglašava ovim Ugovorom da se nepodmirena dospjela kamata za period duži od jedne godine spoji i xx xxx pri kapitalizaciji, takva nepodmirena kamata potom ostvaruje kamatu po kamatnoj stopi navedenoj u ovom članu 3.2.
Ako je zakašnjeli iznos u valuti koja nije valuta Zajma, primijeniće se sljedeća godišnja xxxxx, odnosno relevantna međubankarska xxxxx xxxx Banka generalno primjenjuje za transakcije u toj valuti, plus 2% (200 baznih poena), izračunata u skladu s tržišnom praksom za takvu stopu.
3.3 Slučaj poremećaja na tržištu
Ako u bilo koje vrijeme (i) od kada xx Xxxxx primila Prihvatanje povlačenja za Tranšu, i (ii) do datuma koji pada 30 (trideset) kalendarskih xxxx prije Planiranog datuma povlačenja, nastane Slučaj poremećaja na tržištu, Banka može obavijestiti
Zajmoprimca da je ova klauzula stupila na snagu. U xxx slučaju, primjenjuju se sljedeća pravila:
(a) Kamatna xxxxx xxxx xx primjenljiva na takvu Prihvaćenu tranšu do Datuma dospjeća ili Datuma revizije/konverzije xxxxxx, ako ga ima, xxxx xxxxx (izražena kao procentna xxxxx xx godišnjem nivou) za koju Banka utvrdi da predstavlja ukupni trošak Banke za finansiranje relevantne Tranše na osnovu tada primjenljive interno određene referentne stope Banke ili alternativnog metoda za određivanje stope xxxx Xxxxx razumno odredi.
Zajmoprimac ima pravo da odbije u pisanoj formi takvu isplatu u okviru roka naznačenog u obavještenju i snosi nastale troškove, ako ih ima, u kojem slučaju Banka ne vrši isplatu i odgovarajući dio Xxxxxxx ostaje raspoloživ za povlačenje po članu 1.02B. Ukoliko Zajmoprimac ne odbije isplatu blagovremeno, strane su saglasne da su isplata i njeni uslovi u potpunosti obavezujući za obje strane.
(b) Marža ili Fiksna xxxxx xxxx xx Zajmoprimac prethodno prihvatio u Ponudi o povlačenju, više se ne primjenjuje.
ČLAN 4
Otplata
4.1 Normalna otplata
4.1.A Otplata u ratama
(b) Svaki plan otplate sastavlja se tako da:
(i) u slučaju Tranše sa fiksnom stopom bez Datuma revizije/konverzije xxxxxx, otplata se vrši godišnje, polugodišnje ili kvartalno u jednakim ratama glavnice ili stalnim ratama glavnice i xxxxxx;
(ii) u slučaju Tranše sa fiksnom stopom sa Datumom revizije/konverzije xxxxxx ili Tranše sa varijabilnom stopome, otplata se vrši u jednakim godišnjim, polugodišnjim ili kvartalnim ratama glavnice;
(iii) prvi Datum otplate svake Tranše je Datum plaćanja koji pada ne ranije od 30 (trideset) xxxx od Planiranog datuma povlačenja i ne kasnije od prvog Datuma otplate koji slijedi odmah nakon 5. (xxxx) godišnjice Planiranog datuma povlačenja Xxxxxx; i
(iv) posljednji Datum otplate svake Tranše će biti Datum plaćanja koji pada ne ranije od 4 (četiri) godine i ne kasnije od 20 (dvadeset) xxxxxx xx Planiranog datuma povlačenja.
4.1.B Jedna rata
Alternativno, Zajmoprimac može da otplati Tranšu jednom ratom na jedan Datum otplate koji je naznačen u Ponudi o povlačenju, s xxx da xxx datum ne pada manje od 3 (tri) godine ili više od 12 (dvanaest) xxxxxx xx Planiranog datuma povlačenja.
4.2 Dobrovoljna prijevremena otplata
4.2.A Opcija prijevremene otplate
U zavisnosti od članova 4.2.B, 4.2.C i 4.4, Zajmoprimac može ranije otplatiti cijelu ili dio Xxxxxx, zajedno s obračunatom kamatom i obeštećenjem ukoliko ga ima,
dostavljanjem Xxxxxxxx za prijevremenu otplatu sa obavještenjem od najmanje 30 (trideset) xxxx unaprijed u kojem se navodi:
(a) Iznos prijevremene otplate;
(b) Datum prijevremene otplate;
(c) ako je primjenljivo, odabir metode primjene Iznosa prijevremene otplate u skladu sa članom 5.5.C(a); i
(d) Broj Ugovora.
Zahtjev za prijevremenu otplatu je neopoziv.
4.2.B Obeštećenje za prijevremenu otplatu
4.2.B(1) TRANŠA SA FIKSNOM STOPOM
U zavisnosti od člana 4.2.B(3) ispod, ako Zajmoprimac prije vremena otplati Tranšu sa fiksnom stopom, Zajmoprimac xx xxxxx xx xxxxx Banci na Datum prijevremene otplate Obeštećenje za prijevremenu otplatu vezano za Tranšu sa fiksnom stopom koja se prije vremena otplaćuje.
4.2.B(2) TRANŠA SA VARIJABILNOM STOPOM
U zavisnosti od člana 4.2.B(3) ispod, Zajmoprimac može prije vremena otplatiti Tranšu sa varijabilnom stopom bez obeštećenja na bilo koji relevantni Datum plaćanja.
4.2.B(3) REVIZIJA/KONVERZIJA
4.2.C Mehanizam prijevremene otplate
Nakon dostavljanja Zajmoprimčevog Zahtjeva za prijevremenu otplatu Banci, Banka izdaje Zajmoprimcu Obavještenje o prijevremenoj otplati najkasnije petnaest (15) xxxx prije Datuma prijevremene otplate. Obavještenje o prijevremenoj otplati će precizirati Iznos prijevremene otplate, dospjeloj obračunatoj kamati, Obeštećenje za prijevremenu otplatu plativo po članu 4.2.B ili, u zavisnosti od slučaja, ako nema dospjelog obeštećenja, metodu za primjenu Iznosa prijevremene otplate i, ako je Obeštećenje za prijevremenu otplatu primjenljivo, rok do koga Zajmoprimac xxxx prihvatiti Obavještenje o prijevremenoj otplati.
Ako Zajmoprimac prihvati Obavještenje o prijevremenoj otplati najkasnije do roka (ako ga ima) preciziranog u Obavještenju o prijevremenoj otplati za, Zajmoprimac xx xxxxx da izvrši prijevremenu otplatu. U bilo kom drugom slučaju, Zajmoprimac ne može izvršiti prijevremenu otplatu.
Zajmoprimac će uz plaćanje Xxxxxx prijevremene otplate platiti i obračunatu kamatu, Obeštećenje za prijevremenu otplatu i naknadu po članu 4.2.D, ako je ima, dospjelu na Iznos prijevremene otplate, xxxx xx navedeno u Obavještenju o prijevremenoj otplati.
4.2.D Administrativna naknada
Ako Zajmoprimac prije vremena otplati Tranšu na datum koji nije relevantni Datum plaćanja, ili ako Banka u izuzetnom slučaju prihvati, isključivo po nahođenju Banke, Xxxxxxx za prijevremenu otplatu uz prethodno obavještenje od manje od 30 (trideset)
kalendarskih xxxx, Zajmoprimac će platiti Banci administrativnu naknadu u iznosu o kojem Banka izvijesti Zajmoprimca.
4.3 Obavezna prijevremena otplata
4.3.A Slučajevi za prijevremenu otplatu
4.3.A(1) SMANJENJE TROŠKOVA PROJEKTA
Ako ukupni trošak Projekta padne ispod cifre navedene u Uvodnoj odredbi (b) tako da iznos Kredita premašuje 50% (pedeset odsto) takvog ukupnog xxxxxx Projekta, Banka može odmah, dostavljanjem obavještenja Zajmoprimcu, otkazati nepovučeni dio Kredita i/ili zahtijevati prijevremenu otplatu Nepodmirenog Zajma do iznosa do kojeg Kredit prelazi 50% (pedeset odsto) ukupnog xxxxxx Projekta, zajedno sa obračunatom kamatom i svim drugim obračunatim i nepodmirenim iznosima po ovom Ugovoru u vezi sa udjelom Nepodmirenog Xxxxx koji se prijevremeno otplaćuje. Zajmoprimac xx xxxxx da izvrši plaćanje traženog iznosa na datum koji odredi Banka, a taj datum treba da bude datum koji pada ne manje od 30 (trideset) xxxx od datuma zahtjeva.
4.3.A(2) PARI PASSU na finansiranje koje nije vezano za EIB
Ukoliko Zajmoprimac dobrovoljno prijevremeno otplati (u cilju izbjegavanja sumnje, prijevremena otplata će uključivati ponovnu kupovinu ili otkazivanje xxxx xx primjenljivo) dio ili cijelo Finansiranje koje nije vezano za EIB i:
(c) ta prijevremena otplata nije izvršena u okviru revolving kreditnog aranžmana (osim otkazivanja revolving kreditnog aranžmana);
(d) ta prijevremena otplata nije izvršena sredstvima zajma ili drugog zaduženja xxxx xx ročnost minimum jednaka preostaloj ročnosti Finansiranja koje nije vezano za EIB a koje se prijevremeno otplaćuje;
Banka može, dostavljanjem obavještenja Zajmoprimcu, otkazati nepovučeni dio Xxxxxxx i zahtijevati prijevremenu otplatu Nepodmirenog Xxxxx, zajedno sa obračunatom kamatom i svim drugim obračunatim i nepodmirenim iznosima po ovom Ugovoru u vezi sa udjelom Nepodmirenog Xxxxx koji se prijevremeno otplaćuje. Udio Nepodmirenog Zajma xxxx Xxxxx može zahtijevati da se prijevremeno otplati isti xx xxx udio koji prijevremeno otplaćeni iznos Finansiranja koje nije vezano za EIB ima u ukupnom nepodmirenom iznosu svih Finansiranja koje nijesu vezane za EIB. Zajmoprimac xx xxxxx da izvrši plaćanje traženog iznosa na datum koji odredi Banka, s xxx što xxx datum pada ne manje od 30 (trideset) xxxx od datuma zahtjeva.
Za svrhe ovog člana, “Finansiranje koje nije vezano za EIB” podrazumijeva bilo koji zajam, (osim Zajma i drugih direktnih zajmova xx Xxxxx Zajmoprimcu, kreditnu obveznicu ili drugi oblik finansijskog zaduženja ili drugu obavezu za plaćanje ili otplatu novca koji je prvobitno odobren Zajmoprimcu na rok duži od 3 (tri) godine.
4.3.A(3) PROMJENA ZAKONA
Zajmoprimac xx xxxxx da odmah obavijesti Banku ako nastane Slučaj promjene zakona ili je vjerovatno da će nastati. U xxx slučaju, ili ako Banka ima razuman razlog da vjeruje da je Slučaj promjene zakona nastao ili ‘da samo što nije nastao, Banka može zahtijevati konsultacije sa Zajmoprimcem. Takve konsultacije će se održati u roku od 30 (trideset) xxxx od datuma zahtjeva Banke. Ako, nakon isteka 30 (trideset) xxxx od datuma tog zahtjeva za konsultovanje Banka smatra da posljedice Slučaja promjene zakona ne mogu biti ublažene na način koji ona smatra prihvatljivim, Banka može dostavljanjem obavještenja Zajmoprimcu, otkazati nepovučeni dio Kredita i/ili zahtijevati prijevremenu otplatu Nepodmirenog Zajma, zajedno sa obračunatom
kamatom i svim drugim iznosima obračunatim i nepodmirenim po osnovu ovog Ugovora.
Zajmoprimac xx xxxxx da izvrši plaćanje zahtijevanog iznosa na datum koji odredi Banka, a da taj datum ne pada manje od 30 (trideset) xxxx od datuma zahtjeva.
Za svrhe ovog člana "Slučaj promjene zakona" znači usvajanje, proglašenje, potpisivanje ili ratifikaciju izmjene u ili amandmana na zakon, pravilo ili xxxxxx (ili u primjeni ili zvaničnom tumačenju zakona, pravila ili propisa) koje nastane nakon datuma ovog Ugovora i koje bi po mišljenju Banke materijalno umanjilo sposobnost Zajmoprimca da izvršava svoje obaveze po osnovu ovog Ugovora.
4.3.A(4) NEZAKONITOST
Ukoliko:
(a) postane nezakonito u bilo kojoj primjenljivoj jurisdikciji da Banka izvršava bilo koje od svojih obaveza iz ovog Ugovora ili da finansira ili održava Zajam;
(b) Okvirni sporazum jeste ili, prema razumnom mišljenju Banke, vjerovatno će biti:
(i) osporen ili ukinut xx xxxxxx Crne Xxxx ili neobavezujući za Crnu Goru u bilo kom smislu;
(ii) nije djelotvoran u skladu sa svojim uslovima ili Xxxx Gora tvrdi da je nedjelotvoran u skladu sa svojim uslovima; ili
(iii) prekršen tako da bilo koja obaveza xxxx xx preuzela Crna Gora Okvirnim sporazumom prestaje da se ispunjava u odnosu na bilo koji zajam dat bilo kom zajmoprimcu na teritoriji Crne Xxxx iz sredstava Banke ili Evropske unije; ili
(c) u vezi sa Garancijom EU:
(i) više nije validna ili u cjelosti valjana i ne proizvodi pravne posljedice;
(ii) uslovi za njeno pokrivanje nijesu ispunjeni;
(iii) ne primjenjuje se na bilo koju Xxxxxx povučenu ili xxxx xxxxx da bude povučena po ovom Ugovoru; ili
(iv) nije djelotvorna u skladu sa svojim uslovima ili se tvrdi da je nedjelotvorna u skladu sa sa svojim uslovoma,
Banka može, obavještenjem Zajmoprimcu, odmah da (i) suspenduje ili otkaže nepovučeni dio Kredita i/ili (ii) zahtijeva prijevremenu otplatu Xxxxx sa obračunatom kamatom i svim drugim obračunatim ili nepodmirenim iznosima po ovom Ugovoru, na datum xxxx Xxxxx naznači u obavještenju dostavljenom Zajmoprimcu.
4.3.B Mehanizam prijevremene otplate
Bilo koja suma koju Banka zatraži u skladu sa članom 4.3.A, zajedno sa kamatom ili drugim iznosima obračunatim ili nepodmirenim po osnovu ovog Ugovora uključujući, bez ograničenja, svako obeštećenje plativo po članu 4.3.C plaća se na na datum xxxx Xxxxx naznači u obavještenju o zahtjevu.
4.3.C Obeštećenje za prijevremenu otplatu
4.4 Opšte
4.4.A Bez uticaja na Article 10
Ovaj Article 4 ne utiče na Article 10.
4.4.B Bez ponovnog zaduživanja
Prijevremeno otplaćeni iznos ne može biti predmet ponovnog zaduženja.
ČLAN 5
Plaćanja
5.1 Dogovor o računanju xxxx
Svaki iznos koji se potražuje na ime xxxxxx ili obeštećenja od Zajmoprimca po osnovu ovog Ugovora, i obračunava na dio godine, utvrđuje se prema sljedećim odgovarajućim dogovorima:
(a) za xxxxxx i obeštećenja koje dospijevaju po osnovu Xxxxxx sa fiksnom stopom, xxxxxx xx 360 (xxxxxx šezdeset) xxxx i mjesec od 30 (trideset) xxxx; i
(b) za xxxxxx i obeštećenja koji dospijevaju po osnovu Tranše sa varijabilnom stopom, xxxxxx xx 360 (xxxxxx šezdeset) xxxx x xxxx proteklih xxxx.
5.2 Vrijeme i mjesto plaćanja
(a) Osim ako je drugačije određeno u ovom Ugovoru ili u Bančinom zahtjevu, svi iznosi osim iznosa xxxxxx, obeštećenja i glavnice plativi su u roku od 15 (petnaest) xxxx xxxxx što Zajmoprimac primi zahtjev xx Xxxxx.
(c) Zajmoprimac xx xxxxx da u svakom plaćanju koje je po ovom ugovoru izvršeno naznači Broj Ugovora.
(d) Iznos koji Zajmoprimac duguje smatra se plaćenim kada ga Banka primi.
(e) Isplate xx Xxxxx i plaćanje Banci po ovom ugovoru vrše se na račun(e) koji su prihvatljivi za Banku. Svaki račun na ime Zajmoprimca koji sadrži propisno ovlašćenu finansijsku instituciju u jurisdikciji gdje je Zajmoprimac osnovan ili gdje se Projekat realizuje se smatra prihvatljivim za Banku.
5.3 Nema prebijanja xx xxxxxx Zajmoprimca
Sva plaćanja xxxx xxxxx da izvrši Zajmoprimac po osnovu ovog Ugovora se obračunavaju i vrše bez (i slobodna i raspoloživa bez bilo kakvih odbitaka na ime) prebijanja ili protiv-potraživanja.
5.4 Poremećaj u sistemu platnog prometa
Ukoliko Banka utvrdi (po sopstvenom nahođenju) da je nastao Slučaj poremećaja ili je Zajmoprimac obavijestio Banku da je Slučaj poremećaja nastao:
Banka može, i dužna je ukoliko to od nje zatraži Zajmoprimac, konsultovati Zajmoprimca u cilju dogovaranja sa Zajmoprimcem o onim promjenama u vezi sa funkcionisanjem ili administriranjem ovog Ugovora za koje Banka može smatrati da su potrebne u datim okolnostima;
Banka nije dužna da se kosultuje sa Zajmoprimcem u vezi sa promjenama navedenim u stavu (a) ukoliko, po njenom mišljenju, nije to izvodljivo u datim okolnostima, a u svakom slučaju nema obavezu da se saglasi sa xxx promjenama; i
5.5 Korišćenje primljenih iznosa
5.5.A Opšte
Iznosi koji su primljeni xx xxxxxx Zajmoprimca izmiruju njegove obaveze plaćanja samo ukoliko su primljeni u skladu sa uslovima ovog Ugovora.
5.5.B Djelimična plaćanja
Ako Banka primi plaćanje koje je nedovoljno da se izmire svi iznosi koji su u xxx momentu dospjeli i plativi xx xxxxxx Zajmoprimca po osnovu ovog Ugovora, Banka primjenjuje to plaćanje:
(a) prvo, na ili u svrhu proporcionalnog namirenja bilo kojih neplaćenih naknada, troškova, obeštećenja i izdataka dospjelih po osnovu ovog Ugovora;
(b) drugo, na ili u svrhu plaćanja bilo koje obračunate xxxxxx xxxx xx dospjela a neplaćena je po ovom Ugovoru;
(c) treće, na ili u svrhu plaćanja bilo koje glavnice xxxx xx dospjela, ali neplaćena po ovom Ugovoru; i
(d) četvrto, na ili u svrhu plaćanja bilo koje druge sume xxxx xx dospjela a neplaćena po ovom Ugovoru.
5.5.C Raspodjela suma koje se odnose na Tranše
(a) U slučaju:
(i) djelimične dobrovoljne prijevremene otplate Tranše xxxx xx predmet otplate u nekoliko rata, Iznos prijevremene otplate se primjenjuje proporcionalno na svaku preostalu ratu, ili, na zahtjev Zajmoprimca, obrnutim redosljedom dospjeća; ili
(ii) djelimične obavezne prijevremene otplate Tranše xxxx xx predmet otplate u nekoliko rata, Iznos prijevremene otplate se primjenjuje na smanjenje preostalih rata obrnutim redosljedom dospjeća.
(b) Sume koje xx Xxxxx xxxxxxx xxxxx zahtjeva po osnovu člana 10.1 i primijenila na Tranšu, umanjuju preostale rate obrnutim redosljedom dospjeća. Banka može da primijeni sume dobijene između Xxxxxx po svom nahođenju.
(c) U slučaju prijema suma za koje se ne mogu identifikovati kao primjenljive na konkretnu Tranšu i o kojima ne postoji saglasnost zmeđu Banke i Zajmoprimca o tome kako se primjenjuju, Banka može primijeniti te sume na Tranše po svom nahođenju.
ČLAN 6
Tvrdnje i garancije Zajmoprimca
Tvrdnje iz ovog člana 6 ostaju na snazi od datuma ovog Ugovora dok postoji bilo koji iznos nepodmiren po ovom Ugovoru ili Kreditu.
A. TVRDNJE VEZANE ZA PROJEKAT
6.1 Korišćenje zajma i raspoloživost drugih sredstava
Zajmoprimac xx xxxxx da koristi sve iznose pozajmljene po osnovu ovog Ugovora isključivo za izvršenje Projekta.
Zajmoprimac xx xxxxx da obezbijedi da ima na raspolaganju druga sredstva navedena u Uvodnoj odredbi (b) i da se takva sredstva troše, u potrebnoj mjeri, na finansiranje Projekta.
6.2 Završetak Projekta
Zajmoprimac xx xxxxx da, a xxxxx xx da osigura da Promoter, realizuje Projekat u skladu sa Tehničkim opisom koji se s vremena na vrijeme može mijenjati uz odobrenje Banke, i završi ga do konačnog datuma utvrđenog u njemu.
6.3 Povećani trošak Projekta
Ako ukupni troškovi Projekta premaše procijenjeni iznos naveden u Uvodnoj odredbi (b), Zajmoprimac xx xxxxx, a xxxxx xx da obezbijedi da to uradi i Promoter, da pribavi sredstva za finansiranje povećanih troškova bez traženja pomoći xx Xxxxx tako da omogući da Projekt bude završen u skladu sa Tehničkim opisom. Planovi za finansiranje viška troškova dostavljaju se Banci bez odlaganja.
Po zahtjevu Banke, Zajmoprimac xx xxxxx da pokaže, na zadovoljstvo Banke, da je ispunio, ili da će ispuniti, finansijski plan naveden u Uvodnoj odredbi (b).
6.4 Postupak nabavke
(a) Zajmoprimac xx xxxxx, a xxxxx xx da obezbijedi da to uradi i Promoter, da kupi opremu, osigura usluge i naruči radove za Projekat u postupcima nabavke, prihvatljivim za Banku i usklađenim sa njenom politikom opisanom u Vodiću za nabavke.
(b) Zajmoprimac xx xxxxx da obezbijedi da tenderi za sve ugovore koje treba da finansira Banka po osnovu ovog Ugovora obuhvate djelotvoran nacionalni mehanizam za rješavanje žalbi.
(c) Zajmoprimac xx xxxxx, a xxxxx xx da obezbijedi da to uradi Promoter, da odmah obavijesti Banku o svakoj promjeni u prvobitnom planu nabavki.
(d) Zajmoprimac xx xxxxx, a xxxxx xx da obezbijedi da to uradi Promoter, da se konsultuje sa Bankom prije nego što se obaveže na bilo kakvu materijalnu izmjenu ugovora koje finansira Banka po osnovu ovog Ugovora.
6.5 Trajne obaveze po osnovu Projekta
Zajmoprimac xx xxxxx, a xxxxx xx da obezbijedi da to uradi Promoter:
(a) Održavanje: održavati, popravljati, rekonstruisati i obnavljati svu imovinu koja čini dio Projekta xxxx xx potrebno da bude u dobrom radnom stanju;
(b) Imovina Projekta: osim ako Banka ne da svoj prethodni xxxxxx pristanak, zadržati vlasništvo i posjed nad čitavom ili znatno čitavom imovinom koja obuhvata Projekt ili, ako je odgovarajuće, zamijeniti i obnoviti tu imovinu i održavati Projekat u značajno kontinuiranom radu u skladu sa prvobitnom namjenom; Banka može uskratiti svoju saglasnost samo kada bi predložena radnja ugrozila interese Xxxxx xxx zajmodavca Zajmoprimcu ili bi učinila Projekat nekvalifikovanim za finansiranje xx xxxxxx Xxxxx xxxxx Statutu ili članu 309 Ugovora o funkcionisanju Evropske unije;
(c) Osiguranje: xxxx xx neophodno i u skladu sa njihovom normalnom radnom prkasom, osigurati sve radove i imovinu koji čine dio Projekta kod prvoklasnih osiguravajućih društava u skladu sa najsveobuhvatnijjom praksom relevantne industrije;
(d) Prava i dozvole: održavati na snazi sva prava prolaza ili upotrebe i sva Ovlašćenja neophodna za izvršenje i rad Projekta;
(e) Životna sredina i društvo:
(i) implementirati i voditi Projekat u skladu sa Ekološkim i Socijalnim standardima; i;
(ii) dobiti, produžavati i poštovati potrebna Ekološke saglasnosti za Projekat;
(f) Pravo EU: realizovati i upravljati Projektom u skladu sa relevantnim zakonima Crne Xxxx i relevantnim standardima prava EU, izuzev opštih izuzeća koja učini Evropska unija.
(g) Računi: obezbijediti da Promoter zatraži povlačenje od Zajmoprimca, i da Zajmoprimac izvrši sva plaćanja u vezi sa Projektom Promoteru na bankovni račun koji se vodi na ime promotera kod propisno ovlašćene finansijske institucije u jurisdikciji u kojoj je Promoter registrovan ili gdje Promoter realizuje Projekat.
6.6 Implementacija Projekta i preseljenje
Zajmoprimac xx xxxxx, a da obezbijedi da to uradi Promoter, implementirati Projekat u skladu sa RPF, RAP i ESMP.
Zajmoprimac neće, i obezbijediće da ni Promoter neće, početi niti inicirati preseljenje prije nego xx Xxxxx saglasi sa RAP-om primjenljivim na takvo preseljenje.
6.7 Xxx za implementaciju projekta
Zajmoprimac xx xxxxx da, i da obezbijedi da Promoter, održava u funkciji Xxx za implementaciju Projekta i xxx za nadzor radova sa opisom posla, osobljem, resursima i tehničkom pomoću, koji su prihvatljivi za Banku.
B. OPŠTE TVRDNJE
6.8 Poštovanja zakona
Zajmoprimac xx xxxxx da, a da obezbijedi da Promoter, poštuje u svakom smislu sve zakone kojima Zajmoprimac ili Promoter (respektivno) ili Projekat podliježu.
6.9 Knjige i registri
Zajmoprimac:
(a) xx xxxxx da obezbijedi da Zajmoprimac i Promoter vode i nastave da vode odgovarajuće knjige i registre računa, u xxxxxx xx biti unošeni potpuni i tačni podaci o svim finansijskim transakcijama i imovini i poslovanju Zajmoprimca, uključujući troškove u vezi sa Projektom, u skladu sa GAAP koji je na snazi s vremena na vrijeme; i,
(b) xxxxx xx, xxx i da obezbijedi da i Promoter, vodi i xxxx evidenciju o ugovorima koji se finansiraju iz sredstava Zajma, uključujući primjerak samog ugovora i materijalnu dokumentaciju koja se odnosi na nabavku najmanje 6 xxxxxx xx suštinskog ispunjenja ugovora.
6.10 Integritet
(a) Zabranjeno djelovanje:
(i) Zajmoprimac ne smije, i xxxxx xx da obezbijedi xx xxxx ni Promoter, stupiti u (i ne smije ovlastiti niti dozvoliti bilo koje drugo lice koje djeluje u njegovo ime xx xxxxx u) bilo kakvo Zabranjeno djelovanje u vezi s Projektom, tenderskim postupkom za Projekat, ili transakcijama predviđenim Ugovorom.
(ii) Zajmoprimac se obavezuje da preduzme, i xxxxx xx da obezbijedi da Promoter preduzme, takvu radnju koju Banka opravdano traži da bi se ispitao ili okončao navodni ili sumnjani nastanak Zabranjenog djelovanja u vezi sa Projektom.
(iii) Zajmoprimac se obavezuje da obezbijedi da ugovori koji se finansiraju iz ovog Zajma sadrže potrebne odredbe da se omogući Zajmoprimcu i/ili Promoteru da ispita ili okonča navodni ili sumnjani nastanak Zabranjenog djelovanja u vezi sa Projektom.
(b) Sankcije: Zajmoprimac neće, a xxxxx xx da obezbijedi da ni Promoter neće, (i) stupiti u poslovne odnose sa nekom Sankcionisanom osobom, ili (ii) staviti na raspolaganje sredstva, direktno ili indirektno, nekoj Sankcionisanoj osobi, ili u njenu korist;
(c) Zvaničnici Zajmoprimca: Zajmoprimac se obavezuje da preduzme, i xxxxx xx da obezbijedi da Promoter preduzme, odgovarajuće mjere u razumnom vremenskom okviru u vezi xx xxxx kojim službenikom ili osobom na javnoj funkciji u Zajmoprimcu ili Promoteru koji:
(i) postane Sankcionisana osoba; ili
(ii) je predmet konačne i neopozive sudske odluke u vezi sa zabranjenim djelovanjem koje je počinjeno u toku obavljanja njihovih profesionalnih dužnosti
kako bi se osiguralo da je takav član suspendovan, otpušten ili u svakom slučaju isključen iz svake Zajmoprimčeve ili Promoterove aktivnosti u vezi sa Zajmom i Projektom.
6.11 Opšte tvrdnje i garancije
Zajmoprimac tvrdi i garantuje Banci da:
(a) je ovlašćen da izvršava, sprovodi i obavlja svoje obaveze po osnovu ovog Ugovora i da su preduzete sve neophodne xxxxxxx x xxxxx radnje da se odobri njihovo izvršavanje, sprovođenje i obavljanje;
(b) ovaj Ugovor predstavlja njegove zakonito validne, obavezujuće i izvršive obaveze;
(c) izvršenje i sprovođenje njegovih obaveza po osnovu i u skladu sa odredbama ovog Ugovora nije i neće biti u suprotnosti ili sukobu sa:
(i) nekim primjenljivim zakonom, statutom, pravilom ili propisom ili bilo kojom presudom, uredbom ili dozvolom kojoj je podložan; ili
(ii) bilo kojim ugovorom ili drugim instrumentom koji je za njega obavezujući za koje se može razumno očekivati da imaju materijalno štetne posljedice po njegovu sposobnost da izvršava svoje obaveze po osnovu ovog Ugovora,
(d) nema Materijalno negativnih promjena od 29. xxxx 2018.;
(e) nije nastao slučaj ili okolnosti koje predstavljaju Slučaj prijevremene otplate ili Slučaj neispunjenja obaveza xxxx xx xxxxx bez korekcije ili odricanja;
(f) nema parničnih, arbitražnih, upravnih postupaka ili istraga koje su u toku ili koje po njegovom znanju prijete ili predstoje pred bilo kojim sudom, arbitražnim tijelom ili agencijom xxxx xx rezultirala ili ukoliko se utvrdi suprotno da je razumno izgledno da će rezultirati Materijalno negativnim promjenama niti će postojati protiv njega ili bilo kojeg od njegovih zavisnih društava nepodmirene presude ili dodjele;
(g) je dobio sva neophodna Ovlašćenja u vezi sa ovim Ugovorom i kako bi zakonito ispunjavao svoje obaveze po Ugovoru i Projektu i da je Promoter dobio sva neophodna Ovlašćenja u vezi sa Projektom i da su sva ta Ovlašćenja u potpunosti na snazi i proizvode pravne posljedice i da su prihvatljiva kao dokazi;
(h) se njegova plaćanja obaveza po osnovu ovog Ugovara rangiraju makar pari passu u vezi sa pravom plaćanja sa svim drugim postojećim i budućim neobezbijeđenim i nesubordinisanim obavezama po osnovu bilo kog njegovog dužničkog instrumenta izuzev obaveza koje obavezno imaju prvenstvo po osnovu zakona;
(i) poštuje član (a)(d) i po njegovom najboljem saznanju i uvjerenju (nakon što je sproveo potrebnu i detaljnu provjeru) nije započeta niti prijeti da započne bilo koja Ekološka ili socijalna tužba protiv njega ili Promotera;
(j) poštuje sve preuzete obaveze po osnovu ovog Article 6;
(k) nije zaključena klauzula o Gubitku rejtinga xx xxxx kojim drugim kreditorom Zajmoprimca;
(f) po njegovom najboljem saznanju, sredstva koja su investirana u Projekat xx xxxxxx Zajmoprimca nijesu nelegalnog porijekla, uključujući proizvode pranja novca niti su povezana sa finansiranjem terorizma;
(g) ni Zajmoprimac, ni Promoter, ni njihovi službenici ili bilo koja osoba na javnoj funkciji, xxxx xxxx koja xxxxx xxxxx koja djeluje u njihovo ime ili pod njihovom kontrolom nije počinila niti će počiniti (i) neko od Zabranjenih djelovanja u vezi sa projektom ili neku transakciju koja se razmatra Ugovorom; ili (ii) neku nelegalnu radnju koje je povezana sa Finansiranjem terorizma ili Pranjem novca;
(l) Projekat (uključujući bez ograničenja, pregovaranje, dodjelu i izvođenje ugovora koji se finansiraju ili će se finansirati iz Zajma) ne obuhvata niti izaziva neko Zabranjeno djelovanje;
ČLAN 7
Obezbjeđenje
7.1 Pari passu rangiranje
Zajmoprimac će obezbijediti da se njegove obaveze plaćanja po osnovu ovog Ugovora rangiraju i da će se rangirati makar xxx xxxx passu u pogledu prava plaćanja u odnosu na sve druge postojeće i buduće neobezbijeđene i nesubordinisane obaveze po osnovu bilo kog njegovog Instrumenta spoljnog duga.
Naročito, ako Banka podnese zahtjev po osnovu člana 10.01 ili ukoliko je nastao i traje slučaj ili mogući slučaj neispunjenja obaveza po osnovu bilo kog neobezbijeđenog i nesubordinisanog Instrumenta spoljnog duga Zajmoprimca ili bilo koje od njegovih agencija ili posebnih jedinica, Zajmoprimac neće izvršiti (ili ovlastiti da se izvrši) bilo koje plaćanje u pogledu bilo kog takvog Instrumenta spoljnog duga (bez obzira da xx xx ili nije redovno planiran za otplatu) a da istovremeno ne plati ili izdvoji na namjenski račun za plaćanja na naredni Datum plaćanja sumu xxxx xx jednaka istoj srazmjeri nepodmirenog duga po osnovu ovog Ugovora sa srazmjerom koje plaćanje po osnovu tog Instrumenta spoljnog duga ima u ukupnom nepodmirenom dugu po xxx instrumentu. Za ove svrhe, zanemaruje se svako plaćanje Instrumenta spoljnog duga xxxx xx izvršeno iz xxxxxxx emitovanja drugog instrumenta za koji su izvršili upis u suštini ista xxxx xxxx imaju potraživanja po osnovu Instrumenta spoljnog duga.
U ovom Ugovoru, „Instrument spoljnog duga“ znači (a) instrument, uključujući bilo koju potvrdu ili izvod sa računa kojim se dokazuje ili koji predstavlja obavezu otplate zajma, depozita, avansa ili sličnog davanja kredita (uključujući bez ograničena bilo koje davanja kredita po osnovu ugovora o refinansiranju ili reprogramiranju), (b) obavezu xxxx xx dokazana obveznicom, zadužnicom ili sličnim dokazom o zaduženosti u pisanoj formi, ili (c) garanciju xxxx xx izdao Zajmoprimac za obavezu trećeg lica; pod uslovom da je u svakom slučaju takva obaveza: (i) podložna sistemu zakona koji nisu zakoni Zajmoprimca; ili (ii) plativa u valuti koja nije valuta u zemlji Zajmoprimca; ili (iii) plativa licu koje je osnovano, sa prebivalištem, rezident ili sa sjedištem ili glavnim mjestom obavaljanja djelatnosti izvan zemlje Zajmoprimca.
7.2 Klauzule koje se uključuju
Ukoliko Zajmoprimac zaključi xx xxxx kojim srednjoročnim ili dugoročnim finansijskim povjeriocem ugovor o finansiranju koji uključuje klauzulu o gubitku rejtinga i/ili klauzulu o unakrsnom neispunjenju obaveza i/ili pari passu klauzula xxxx xx strožija od bilo koje ekvivalentne odredbe u ovom Ugovoru, Zajmoprimac xx xxxxx da o tome obavijesti Banku i na zahtjev Banke potpiše ugovor o izmjenama ovog Ugovora tako da se unese odgovarajuća odredba u korist Banke.
7.3 Dodatno obezbjeđenje
Ukoliko Zajmoprimac izda trećem licu bilo koje obezbjeđenje za izvršenje bilo kog Instrumenta spoljnog duga ili bilo koji povlašćeni tretman ili prioritet u pogledu istih, Zajmoprimac, ukoliko to zatraži Banka, xxxxx xx pružiti Banci ekvivalentno obezbjeđenje za izvršenje njegovih obaveza po osnovu ovog Ugovora ili dodijeliti Banci ekvivalentan povlašćeni tretman ili prioritet.
ČLAN 8
Informacije i posjete
8.1 Informacije u vezi sa Projektom
Zajmoprimac xx xxxxx da, i obezbijediće da Promoter:
(a) dostavi Banci:
(i) informacije po sadržaju i obliku, i u vremenima navedenim u Prilogu 0 ili onako kako xx xxxxxx iz ovog Ugovora povremeno dogovore; i
(ii) bilo koje informacije ili dokumenta u vezi finansiranja, nabavki, primjene, funkcionisanja Projekta i povezanih ekoloških i socijalnih pitanja kakve Banka može razumno zahtijevati u razumnim rokovima;
pod stalnim uslovom da ako te informacije ili dokumenta nijesu na vrijeme dostavljana Banci a Zajmoprimac ili Promoter nijesu ispravili propust u razumnom vremenskom periodu koji je odredila Banka u pisanoj formi, Banka može nadoknaditi nedostatak u izvodljivoj mjeri, upošljavanjem svojih ljudi ili konsultanta ili xxxx xxxxx xxxxx xxxxxx o trošku Zajmoprimca, a Zajmoprimac će xxx licima obezbijediti svu neophodnu pomoć za tu svrhu;
(b) podnositi na odobrenje Banke bez odlaganja svaku značajnu promjenu Projekta, uzimajući u obzir i objave Banci u vezi sa Projektom prije potpisivanja ovog Ugovora u pogledu, između ostalog, cijene, projektovanja, planova, vremenskog rasporeda ili programa izdataka ili plana finansiranja za Projekat;
(c) odmah informisati Banku o:
(i) svakoj radnji ili protestu koji je započet ili svakoj primjedbi neke xxxxx xxxxxx ili svakoj istinskoj pritužbi koje primi Zajmoprimac ili Promoter ili svakoj Ekološkoj ili Socijalnoj parnici xxxx xx po njegovom saznanju započeta, u toku je ili koja prijeti protiv njega ili Promotera;
(ii) svakoj činjenici ili slučaju koji su poznati Zajmoprimcu ili Promoteru, koji mogu bitno dovesti u pitanje ili uticati na uslove izvršenja ili funkcionisanja Projekta;
(iii) svakom nepoštovanju od njegove ili Promoterove srane bilo kog Ekološkog i Socijalnog standarda;
(iv) svakom prekidu, opozivu ili izmjeni bilo koje Ekološke saglasnosti,
(v) tačne navode ili žalbe u vezi sa Zabranjenim djelovanjem koje se odnosi na Projekat;
(vi) ako on ili Promoter postanu svjesni neke činjenice ili informacije koja potvrđuje ili razumno sugeriše (a) da xx xxxxx do Zabranjenog djelovanja u vezi sa Projektom, ili (b) da su neka od sredstava koja su investirana u njegov akcionarski kapital ili u Projekat nelagalnog porijekla;
i definisati radnje koje treba preduzeti u pogledu tih pitanja; i
(d) dostaviti banci, ako se tako traži, vjerne primjerke ugovora koji se finansiraju iz sredstava Zajma i dokaz o troškovima u vezi sa isplatama.
8.2 Informacije u vezi sa Zajmoprimcem
Zajmoprimac xx xxxxx da, i da obezbijedi da Promoter:
(a) dostavi povremeno Banci, dodatne informacije, dokaze ili dokumente koji se odnose na:
(1) njegovu opštu finansijsku situaciju ili potvrde poštovanja preuzetih obaveza iz Article 6; i
(2) pitanja koja se tiču dubinske analize klijenta od ili za Zajmoprimca /ili Promotera kako bi se poštovala procedura "upoznaj svog klijenta " (KYC) ili slične postupke identifikacije,
kako Banka bude smatrala za potrebno ili može razumno zahtijevati da joj se dostavi u razumnom roku, i
(b) odmah informisati Banku o:
(i) svakoj činjenici koja ga obavezuje da prijevremeno otplati bilo koju finansijsku zaduženost ili finansijska sredstva Evropske Unije;
(ii) svakom slučaju ili odluci koja predstavlja ili ima za posljedicu Slučaj prijevremene otplate;
(iii) svakoj njegovoj namjeri davanja bilo kakvog obezbjeđenja na svoju imovinu u korist xxxxx xxxxxx;
(iv) svakoj namjeri s njegove strane da ustupiti vlasništvo neke materijalne komponente Projekta;
(v) svakoj činjenici ili slučaju za koje je razumno vjerovatno da mogu spriječiti bitno ispunjenje bilo koje obaveze Zajmoprimca prema ovom Ugovoru;
(vi) svakom Slučaju neispunjavanja obaveza koji nastane, ili prijeti da nastane ili se očekuje;
(vii) svakoj činjenici ili slučaju xxxx xx posljedica da bilo koji službenik ili osoba na javnoj funkciji u Zajmoprimcu ili Promoteru bude Sankcionisano lice;
(viii) osim ako to nije zabranjeno zakonom, o materijalnoj parnici, arbitraži, upravnom postupku ili istrazi a vodi ga sudski, administrativni ili slični javni organ, koji, po njegovom najboljem saznanju i uvjerenju, xx x xxxx, predstoji ili je neriješen protiv Zajmoprimca ili Promotera ili bilo kog zvaničnika ili osobe na javnoj funkciji u Zajmoprimcu ili Promoteru u vezi sa Zabranjenim djelovanjem koje se odnosi na Zajam ili Projekat;
(ix) svakoj mjeri koju su preduzeli Zajmoprimac ili Promoter shodno članu 6.10 ovog Ugovora; i
(x) svakom parničnom, arbitražnom ili upravnom postupku ili istrazi xxxx xx u toku, koja prijeti ili predstoji, koja ukoliko bude nepovoljno riješena može dovesti do Materijalno negativne promjene.
8.3 Posjete, pravo pristupa i istrage
(a) Zajmoprimac xx xxxxx da, a obezbijediće da Promoter, dozvoli licima koje je odredila Banka, kao i licima koje su odredile nadležne institucije EU uključujući Sud revizora Evropske zajednice, Evropsku komisiju i Evropsku kancelariju za borbu protiv prevara da:
(i) posjete lokacije, instalacije i radove obuhvaćene Projektom i da sprovedu kontrole koje žele u svrhe koje su povezane sa ovim Ugovorom i finansiranjem Projekta,
(ii) razgovaraju sa predstavnicima Zajmoprimca i/ili Promotera, i da ne ometaju kontakte xx xxxx kojom drugom osobom koaj je uključena ili na koju utiče Projekat; i
(iii) pregleda knjige i registre Zajmoprimca i/ili Promotera u vezi sa izvođenjem Projekta i da bude u mogućnosti da uzme primjerke predmetnih dokumenata u mjeri u kojoj je to dozvoljeno zakonom.
(b) Zajmoprimac xx xxxxx da, a obezbijediće da Promoter, olakša istrage xx xxxxxx Xxxxx i drugih nadležnih institucija ili tijela Evropske Unije u vezi sa navodnim ili sumnjanim nastankom Zabranjenog djelovanja i pružiće Banci, ili osigurati da Banci bude pružena, sva neophodna pomoć u svrhe koje su opisane u ovom članu.
(c) Zajmoprimac prihvata, i Zajmoprimac xx xxxxx da obezbijedi da Promoter prihvata, da Banka može biti obavezna da objelodani takve informacije koje se odnose na Zajmoprimca, Promotera i Projekat svim nadležnim institucijama ili tijelima Evropske unije uključujući Sud revizora Evropske zajednice, Evropsku komisiju i Evropsku kancelariju za borbu protiv prevara ako su iste neophodne za obavljanje njihovog zadatka u skladu sa zakonima Evropske zajednice.
ČLAN 9
Naknade i izdaci
9.1 Porezi, dažbine i takse
Zajmoprimac xx xxxxx da platiti sve poreze, dažbine, takse i ostale namete bilo koje prirode, uključujući administrativne takse i registracione takse koje nastaju iz izvršenja ili primjene ovog Ugovora ili nekog povezanog dokumenta i prilikom stvaranja, zaključivanja, registracije ili sprovođenja bilo kog Obezbjeđenja za Zajam u primjenljivoj mjeri.
Zajmoprimac xx xxxxx xx xxxxx sve glavnice, xxxxxx, obeštećenja i ostale iznose koji dospijevaju po osnovu ovog Ugovoru, bruto bez odbitaka bilo kakvih državnih ili lokalnih nameta na koje obavezuje zakon ili sporazum sa organom vlasti ili na drugi način. Ako je Zajmoprimac obavezan izvršiti takve odbitke, tada xx xxxxx da poveća plaćanje Banci tako da nakon odbitka, neto iznos xxxx Xxxxx primi bude jednak dospjelom iznosu.
9.2 Ostale naknade
Zajmoprimac će snositi sve naknade i izdatke, uključujući profesionalne, bankarske ili naknade za promjene valute nastale u vezi sa pripremom, potpisivanjem, sprovođenjem, izvršavanjem i raskidom ovog Ugovora ili pratećih dokumenata,
izmjena, dopuna ili odricanje od prava u vezi sa ovim Ugovorom ili bilo kojim pratećim dokumentom i izmjenom, stvaranjem, upravljanjem, izvršavanjem i realizacijom bilo kog obezbjeđenja za Zajam.
9.3 Povećani troškovi, obeštećenje i poravnanje
(a) Zajmoprimac xx xxxxx xx xxxxx Banci sve troškove ili izdatke nastale ili koje xx xxxxx Xxxxx xxx posljedicu uvođenja ili bilo koje promjene (ili u tumačenju, administraciji ili primjeni) zakona ili propisa ili poštovanja bilo kog zakona ili propisa koji su xxxxxxx xxxxx datuma potpisivanja ovog Ugovora, u skladu sa kojim ili kao rezultat kojeg:
(i) xx Xxxxx dužna da ima dodatne troškove kako bi finansirala ili izvršavala svoje obaveze po osnovu ovog Ugovora, ili
(ii) se umanjuje ili ukida bilo koji iznos koji se duguje Banci po osnovu ovog Ugovora ili finansijski prihod koji je rezultat davanja Kredita ili Zajma Zajmoprimcu od strana Banke.
(b) Ne dovodeći u pitanje bilo koje drugo pravo Banke po osnovu ovog Ugovora ili po osnovu bilo kog primjenljivog zakona, Zajmoprimac će obeštetiti i osloboditi odgovornosti Banku od i po osnovu bilo kog gubitka koji je nastao kao rezultat bilo kog ispunjavanja obaveze u cjelosti ili djelimično do kojeg dođe na način koji je drugačiji od onog koji je izričito naveden u ovom Ugovoru.
(c) Banka može prebiti bilo koju dospjelu obavezu Zajmoprimca po ovom Ugovoru (ukoliko je u korisničkom vlasnišvu Banke) xx xxxx kojom obavezom (bilo da je dospjela ili ne) koju Banka duguje Zajmoprimcu bez obzira na mjesto plaćanja, filijalu obračuna ili valutu obaveza. Ako su obaveze u različitim valutama, Banka može izvršiti konverziju bilo koje od obaveza po tržišnom kursu u njenom uobičajenom toku poslovanja za svrhe prebijanja. Ukoliko xx xxxx koja od obaveza nelikvidirana ili neizvjesna, Banka može izvršiti prebijanje u iznosu procijenjenom u dobroj vjeri da predstavlja iznos te obaveze.
ČLAN 10
Slučajevi neispunjavanja obaveza
10.1 Pravo traženja otplate
Zajmoprimac xx xxxxx da odmah otplati cjelokupan ili dio Xxxxxxxxxxxx Xxxxx (kako Banka traži), zajedno sa prispjelim kamatama i drugim obračunatim ili nepodmirenim iznosima po osnovu ovog Ugovora, kada Banka podnese xxxxxx zahtjev o tome u skladu sa sljedećim odredbama.
10.1.A Promptni zahtjev
Banka može postaviti takav zahtjev odmah, bez prethodnog obavještenja (mise en demeure préalable) ili bilo kog sudskog ili vansudskog poteza:
(a) ukoliko Zajmoprimac na xxx dospjeća ne plati iznose koji dospijevaju za plaćanje po osnovu ovog Ugovora u mjestu i u valuti u kojoj su naznačeni za plaćanje, osim:
(i) ako propust xx xxxxx nije uzrokovan administrativnom ili tehničkom greškom ili Slučajem poremećaja; i
(ii) ako se plaćanje izvrši u roku od 3 Xxxxx xxxx od datuma dospjeća;
(b) ukoliko se bilo koja informacija ili dokument, uručeni Banci xx xxxxxx ili u ime Zajmoprimca u vezi s tvrdnjama, garancijama ili izjavama koje xx xxx Zajmoprimac ili za koje se smatra da ih xx xxx Zajmoprimac u ovom Ugovoru, na osnovu njega ili u vezi sa pregovaranjem ili sa izvršenjem ovog Ugovora, pokažu netačnim, nepotpunim ili dovode u zabludu u bilo kom materijalnom pogledu;
(c) ukoliko, nakon neizvršenja obaveze xx xxxxxx Zajmoprimca u vezi xx xxxx kojim zajmom ili bilo kojom obavezom koja nastaje po osnovu bilo koje finansijske transakcije koja nije Zajam:
(i) od Zajmoprimca se zahtijeva ili je moguće da će se zahtijevati, ili xx xxxx, nakon isteka bilo kog relevantnog ugovornog grejs perioda, zahtijevati ili se može zahtijevati prijevremeno plaćanje, isplata, zatvarajnje ili raskid prije dospjeća bilo kog drugog zajma ili obaveze, ili
(ii) se otkaže ili suspenduje bilo koja finansijska obaveza za bilo koji drugi zajam ili obavezu,
(d) ukoliko Xxxxxxxxxxx nije u stanju xx xxxxx svoje dugove kako ovi dospijevaju, ili suspenduje svoje dugove ili učini ili traži da učini nagodbu sa svojim povjeriocima;
(e) ako držalac tereta preuzme državinu, ili ako je imenovan stečajni upravnik, likvidator, administrator, prinudni upravnik ili drugo slično lice bilo xx xxxxxx xxxx nadležne jurisdikcije ili bilo kog nadležnog upravnog organa ili bilo kog drugog lica nad bilo kojim dijelom poslovanja ili imovine Zajmoprimca ili bilo kojom imovinom koja čini dio Projekta;
(f) ako Zajmoprimac ne ispuni bilo koje obaveze, u pogledu bilo kojeg zajma koji xx Xxxxx opredijelila iz resursa Banke ili finansijskih instrumenata sklopljenih sa Bankom;
(g) ako Zajmoprimac ne ispuni bilo koje obaveze, u pogledu bilo kojeg zajma koji mu je dat iz resursa Banke ili Evropske unije;
(h) ako bilo koja eksproprijacija, oduzimanje, zapljena, izvršenje, konfiskacija ili drugi proces nametnut ili sproveden nad imovinom Zajmoprimca ili bilo kojim dijelom imovine xxxx xxxx dio Projekta, i ako nije ukinut ili obustavljen u roku od 14 (četrnaest) xxxx;
(i) ukoliko dođe do Materijalno negativne promjene, u odnosu na stanje Zajmoprimca na datum ovog Ugovora; ili
(j) ukoliko jeste ili postane nezakonito da Zajmoprimac izvršava bilo koju od svojih obaveza po osnovu ovog Ugovora ili ovaj Ugovor nije stupio na snagu u skladu sa svojim uslovima ili Zajmoprimac navodi da on nema dejstvo u skladu sa svojim uslovima.
10.1.B Zahtjev nakon obavještenja o otklanjanju
Banka može takođe postaviti takav zahtjev bez prethodnog obavještenja (mise en demeure préalable) ili bilo kog sudskog ili vansudskog poteza (ne dovodeći u pitanje bilo koje obavještenje pomenuto ispod):
(a) ako Zajmoprimac ne ispuni bilo koju obavezu po osnovu ovog Ugovora (osim onih navedenih u članu 10.1.A); ili
(b) ako se činjenica koja se odnosi na Zajmoprimca ili Projekat navedena u Uvodnim odredbama značajno promijeni i nije materijalno ispravljena, i ako se promjenom ili dovode u pitanje interesi Xxxxx xxx zajmodavca Zajmoprimcu ili negativno utiče na implementaciju ili funkcionisanje Projekta,
izuzev ako nije moguće ispraviti neispunjenje obaveze ili okolnosti koje su dovele do neispunjenja obaveze i ako je isto otklonjeno u razumnom vremenskom roku koji je naveden u obavještenju koje Banka dostavi Zajmoprimcu.
10.2 Ostala prava po osnovu zakona
Član 10.1 ne ograničava ni jedno drugo pravo Banke da prema zakonu zatraži prijevremenu otplatu Nepodmirenog Zajma.
10.3 Obeštećenje
10.3.A Tranše sa fiksnom stopom
U slučaju zahtjeva prema članu 10.1 u vezi sa Xxxxxxx sa fiksnom stopom, Zajmoprimac xx xxxxx xx xxxxx Banci traženu svotu zajedno sa obeštećenjem za prijevremenu otplatu na bilo koji iznos glavnice koji dospijeva za prijevremeno plaćanje. Takvo obeštećenje za prijevremenu otplatu (i) se obračunava od datuma dospjeća za plaćanje navedenog u obavještenju Banke o zahtjevu i izračunava na osnovu toga da se prijevremeno plaćanje izvrši na tako naveden datum i (ii) jeste iznos o kojem Banka obavijesti Zajmoprimca kao o trenutnoj vrijednosti (izračunatoj prema datumu prijevremene otplate) viška, ako ga ima, od:
(c) kamate koja bi se obračunala nakon toga na iznos prijevremeno otplaćen za period od datuma prijevremene otplate do Datuma revizije/konverzije xxxxxx, ako ga ima, ili Datuma dospjeća, ukoliko nije izvršena prijevremena otplata; preko
(d) kamate koja bi se tako obračunala tokom tog perioda, da je izračunata po Stopi prenamjene, manje 0,15% (petnaest baznih poena).
Pomenuta sadašnja vrijednost se izračunava po diskontnoj stopi xxxx xx jednaka Stopi prenamjene, koja se primjenjuje na svaki relevantni Datum plaćanja primjenjlive Tranše.
10.3.B Tranše sa varijabilnom stopom
U slučaju zahtjeva prema članu 10.1 u vezi sa Tranšom sa varijabilnom stopom, Zajmoprimac xx xxxxx xx xxxxx Banci traženi iznos zajedno sa iznosom koji xx xxxxxx sadašnjoj vrijednosti od 0,15% (15 baznih poena) godišnje, izračunat i koji dospijeva na iznos glavnice koji je dospio za prijevremenu otplatu na isti xxxxx xxx što bi kamata trebalo biti izračunata i obračunata, da je taj iznos ostao nepodmiren prema primjenljivom planu otplate Tranše do Datuma revizije/konverzije xxxxxx, ako ga ima, ili Datuma dospjeća.
Vrijednost će se izračunati po diskontovanoj stopi xxxx xx jednaka Stopi prenamjene koja se primjenjuje na svaki odgovorajući Xxxx plaćanja.
10.3.C Opšte
Iznosi koje duguje Zajmoprimac prema ovom članu 10.3 plativi su na datum naveden u Bančinom zahtjevu.
10.4 Neodricanje od prava
Nikakav propust ili kašnjenje ili pojedinačno ili parcijalno postupanje Banke u vršenju bilo kojeg od njenih prava ili pravnih sredstava po osnovu ovog Ugovora ne tumači xx xxx odricanje od takvog prava ili pravnog sredstva. Prava i pravna sredstva predviđena ovim Ugovorom su kumulativna i ne isključuju bilo koje pravo ili pravno sredstvo koje je predviđeno zakonom.
ČLAN 11
Pravo i rješavanje sporova, razno
11.1 Mjerodavno pravo
Na ovaj Ugovor i bilo koje neugovorne obaveze koja nastanu po osnovu ili vezi sa njim primjenjuju se zakoni Luksemburga.
11.2 Jurisdikcija
(a) Sud pravde Evropske unije ima isključivu nadležnost da rješava bilo xxxx xxxx koji nastane iz ili je u vezi sa ovim Ugovorom (uključujući spor vezano za postojanje, validnost ili okončanje ovog Ugovora ili posljedice njegove ništavosti) ili neugovornu obavezu koja nastane iz ili je u vezi sa ovim Ugovorom.
(b) Strane su saglasne da je Sud pravde Evropske unije najadekvatniji i najprikladniji sud za rešavanje sporova između njih i, shodno tome, da xx xxxx izjašnjavati suprotno.
(c) Strane iz ovog Ugovora ovim se odriču bilo kojeg imuniteta od ili prava na prigovor nadležnosti Suda pravde Evropske unije. Odluka Xxxx donesena shodno ovom članu je konačna i obavezujuća za strane bez ograničenja ili rezervi.
11.3 Mjesto izvršenja
Osim ako xx Xxxxx nije drugačije konkretno saglasila u pisanoj forimi, mjesto izvršenja po osnovu ovog Ugovora je sjedište Banke.
11.4 Dokazi o dospjelim iznosima
U svakom pravnom sporu proisteklom iz ovog Ugovora, potvrda Banke u pogledu bilo kojeg iznosa ili stope koji se duguje Banci po osnovu ovog Ugovora, u odsustvu bilo koje očigledne greške, jeste prima facie dokaz o takvom iznosu ili stopi.
11.5 Cijeli sporazum
Ovaj Xxxxxx predstavlja cijeli sporazum između Banke i Zajmoprimca u vezi sa obezbjeđenjem Kredita po ovom Ugovoru i zamjenjuje bilo koji prethodni sporazum, bilo izričit ili prećutan, o istoj stvari.
11.6 Nevaženje
Ako bilo kada bilo koji od uslova iz ovog Ugovora jeste ili postane nezakonit, nevažeći ili neizvršiv u bilo kom pogledu, ili ovaj Ugovor jeste ili postane nedjelotvoran u bilo kom pogledu, po zakonima bilo koje jurisdikcije, ta nezakonitost, neizvršivost ili nedjelotvornost ne utiče na:
(a) zakonitost, validnost ili izvršivost u toj jurisdikciji nekog drugog uslova ovog Ugovora ili djelotvornost u svakom drugom aspektu ovog Ugovora u toj jurisdikciji; ili
(b) legalnost, validnost ili izvršivost u drugoj jurisdikciji tog ili nekog drugog uslova ovog Ugovora ili djelotvornost ovog Ugovora po zakonima takve druge jurisdikcije.
11.7 Izmjene i dopune
Bilo koje izmjene i dopune ovog Ugovora vrše se u pisanoj formi i potpisuju xx xxxxxx ovog Ugovora.
11.8 Primjerci
Ovaj ugovor može biti potpisan u bilo kom broju primjeraka, od kojih svi kada se uzmu zajedno čine jedan i isti instrument. Svaki primjerak je original, ali svi primjerci zajedno čine jedan i isti instrument.
Završne odredbe
12.1 Obavještenja
12.1.A Oblik obavještenja
(a) Sva obavještenja ili druge komunikacije koje se obavljaju po osnovu ovog Ugovora moraju biti u pisanoj formi i, ako nije drugačije navedeno, mogu se obavljati putem pisma, elektronske pošte ili telefaksa.
(b) Obavještenja i druge komunikacije, za koja su utvrđeni fiksni periodi u ovom Ugovoru ili koji sami po sebi utvrđuju rokove koji su obavezujući za adresata, mogu se dostaviti ličnom dostavom, preporučenim pismom, telefaksom ili elektronskom poštom. Smatraće se da su ta obavještenja i komunikacije primljene od bilo koje strane::
(i) na datum dostave u pogledu ručne dostave ili preporučenog pisma;
(ii) po prijemu prenosa u pogledu telefaks poruke;
(iii) u slučaju elektronske pošte koju Zajmoprimac pošalje Xxxxx, samo kad je stvarno primljena u čitljivoj formi i samo ako je adresirana na način xxxx Xxxxx naznači za ovu svrhu, ili
(iv) u slučaju elektronske pošte koju šalje Banka Zajmoprimcu, kad se ta elektronska pošte pošalje.
(c) U svakom obavještenju Zajmoprimca Banci elektronskom poštom xxxx:
(i) Biti naveden Broj Ugovora na mjestu navođenja predmeta; i
(ii) Biti u formi nepromjenljive elektronske slike (pdf, tif ili drugi uobičajeni nepromjenljivi format fajla xxxx xxxxxx dogovore) obavještenja koje je potpisao Ovlašćeni potpisnik sa individualnim pravom predstavljanja ili dva ili više Ovlašćenih potpisnika sa zajedničkim pravom predstavljanja Zajmoprimca, xxxx xx odgovarajuće, u prilogu elektronske pošte.
(d) Obavještenja koja daje Zajmoprimac u skladu sa nekom odredbom ovog Ugovora, kada to zahtijeva Banka, dostavljaju se Banci zajedno sa prihvatljivim dokazima ovlašćenja osobe ili osoba ovlašćenih da potpišu takvo obavještenje u ime Zajmoprimca i ovjereni primjerak potpisa takve osobe ili osoba.
(e) Ne dovodeći u pitanje validnost bilo kog obavještenja ili komunikacije obavljene elektronskom poštom ili telefaksom ili u skladu se ovim članom 12.1, sljedeća obavještenja, komunikacija i dokumetni šalju se i preporučenim pismom relevantnoj strani najkasnije narednog Radnog xxxx:
(i) Prihvatanje povlačenja
(ii) svako obavještenje i komunikacija u vezi sa odlaganjem. otkazivanjem i suspenzijom povlačenja Tranše, revizije ili konverzije xxxxxx xxxx Tranše, Slučajem poremećaja na tržištu, Zahtjevom za prijevremenu otplatu, Obavještenjem o prijevremenoj otplati, Slučaju neispunjavanja obaveza, svakom zahtjevu za prijevremenu otplatu, i
(iii) svako drugo obavještenje, komunikacija ili dokument koje zatraži Banka.
(f) Strane su saglasne da su sve navedene komunikacije (uključujući putem elektronske pošte) prihvaćeni vidovi komunikacije, i predstavljaju prihvatljiv dokaz na sudu i imaju istu dokaznu vrijednost kao i potpisani ugovor.
12.1.B Adrese
Adresa, broj telefaksa i adresa elektronske pošte (i sektora ili službenika, ako ga ima, na čije ime treba poslati komunikaciju) svake strane za obavljanje komunikacije ili isporuku dokumenta po osnovu ili u vezi sa ovim Ugovorom su:
Za Banku | N/R: OPSA/MA-0 000 xxxxxxxxx Xxxxxx Xxxxxxxx X-0000 Xxxxxxxxxx E-mail adresa: contactline- 00000@xxx.xxx Broj telefaksa: x000 0000 00000 |
Za Zajmoprimca | N/R: Sektor/Odjeljenje Crna Gora [ ] E-mail adresa: [GRUPNA/GENERIČNA E-MAIL ADRESA SAMO, NE POJEDINAČNA] |
12.1.C Obavještavanje o podacima za komunikaciju
Banka i Zajmoprimac će odmah obavijestiti drugu stranu o svakoj promjeni u njihovim odgovarajućim detaljima komunikacije.
12.2 Engleski jezik
(a) Svako obavještenje ili komunikacija poslata po osnovu ili u vezi sa ovim Ugovorom xxxx biti na engleskom.
(b) Svi drugi dokumenti koji se daju po osnovu ili u vezi sa ovim Ugovorom moraju biti:
(i) na engleskom; ili
(ii) ako ne na engleskom, i ako to zatraži Banka, zajedno sa ovjerenim prevodom na engleski i, u xxx slučaju, važniji je engleski prevod.
12.3 Uvodne odredbe i prilozi
Uvodne odredbe i sljedeći Prilozi čine dio ovog Ugovora:
Definicja EURIBOR-a | |
ne stope | |