After all the above conditions stipulated in Article Примери клазула

After all the above conditions stipulated in Article. 4 have been fulfilled to the satisfaction of the Lender or, as the case may be, waived by the Lender, the Lender shall issue in a reasonable time a Notice of Commencement of Disbursement Period to the Borrower. In the event that the Borrower fails to fulfill the conditions stipulated in Article 4 within one (1) year after the effectiveness of this Agreement, the Lender shall have the right to reevaluate the implementation conditions of the Project and utilization conditions of the Facility to determine whether to continue the performance of this Agreement or not. 5.1 Further Conditions Any Disbursement to the Borrower is subject to the following conditions: (a) all the conditions precedent specified in Article 4 shall have been satisfied or, as the case may be, waived by the Lender before the issuance of the Notice of Drawdown by the Borrower; (b) the Borrower has provided copies of all relevant authorizations, approvals and consents relating to this Agreement including, without limitation, evidence of the inclusion of the loan under this Agreement in the relevant annual budget pursuant to law approving the budget of the Republic of Serbia. (c) the Lender shall have received not later than 12:00 noon (Beijing time) on the fifth (5th) Business Day before the date on which the Disbursement is to be made the Notice of Drawdown duly completed and submitted by the Borrower; (d) no Event of Default has occurred and is continuing nor would an Event of Default result from the making of such Disbursement; (e) all the representations and warranties made or given by the Borrower herein remain true and accurate in all material respects on and as of the date the Disbursement is to be made with reference to the facts and circumstances then subsisting; (f) the Lender shall have received from the Borrower, on the date of its receipt of the Notice of Drawdown, the invoice or other certificates evidencing that a payment has become due and payable under the Commercial Contract; and (g) the Lender shall have received certified true copies of documents evidencing that the Owner has made sufficient payment to the EPC Contractor, without utilizing the proceeds of the Loan, prior to each proposed Disbursement, so that after such Disbursement, the ratio of the aggregate Self-raised Fund to the proceeds of the Loan shall not be lower than 15:85.