Market Disruption Event. If at any time from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and 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 shall no longer be applicable for that Tranche. 4.1 Normal repayment (a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3. (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 30 (thirty) years from the Scheduled Disbursement Date. 4.2 Voluntary prepayment (a) the Prepayment Amount; (b) the Prepayment Date; (c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
Appears in 3 contracts
Samples: Financial Agreement, Финансијски Уговор – Оквир За Јачање Отпорности Локалне Инфраструктуре, Financial Agreement
Market Disruption Event. If at any time (i) from the receipt issuance by the Bank of a the Disbursement Acceptance Notice in respect of a Tranche, and (ii) until the date falling either:
(1) 30 (thirty) calendar days for Tranches to be disbursed in EUR, GBP or USD, or (2) 2 (two) Business Days for Tranches to be disbursed in any other currency, 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 In the case of a Tranche to be disbursed in EUR, USD or GBP, 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 notification and shall bear charges incurred as a result, if any, in which case the Bank shall not effect the disbursement and the corresponding 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) In the case of a Tranche to be disbursed in a currency other than EUR, USD or GBP, the Bank shall notify to the Borrower the EUR equivalent to be disbursed on the Scheduled Disbursement Date and the relevant percentage rate as described above under paragraph (a) applicable to the Tranche until the Maturity Date or the Interest Revision/Conversion Date if any. The Borrower shall have the right to refuse in writing such disbursement within the deadline specified in the notification 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 in EUR and the conditions thereof shall be fully binding for both parties.
(b) The Spread or the Fixed Rate previously accepted by the Borrower shall no longer be applicable for that Tranche.
4.1 Normal repayment
(a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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 30 (thirty) years from the Scheduled Disbursement Date.
4.2 Voluntary prepayment
(a) the Prepayment Amount;
(b) the Prepayment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
Appears in 2 contracts
Samples: Financial Agreement, Financial Agreement
Market Disruption Event. If at any time from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and 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 shall no longer be applicable for that Tranche.
4.1 Normal repayment
(a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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 3th (fifththird) 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 30 10 (thirtyten) years from the Scheduled Disbursement Date.
4.2 Voluntary prepayment
(a) the Prepayment Amount;
(b) the Prepayment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
(d) the Contract Number. The Prepayment Request shall be irrevocable.
Appears in 2 contracts
Samples: Financial Agreement, Financial Agreement
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 shall no longer be applicable for that Trancheapplicable.
4.1 Normal repayment
(a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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 30 25 (thirtytwenty-five) years from the Scheduled Disbursement Date.
4.2 Voluntary prepayment
(a) the Prepayment Amount;
(b) the Prepayment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
Appears in 2 contracts
Samples: Financial Agreement, Financial Agreement
Market Disruption Event. If at any time time:
(a) from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and ; and
(b) 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 Article 3.3 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. 1.2. If the Borrower does not refuse the disbursement in time, the parties Parties agree that the disbursement in EUR and the conditions thereof shall be fully binding for both parties.
(b) Parties. The Spread or the Fixed Rate previously accepted by the Borrower shall no longer be applicable for that Trancheapplicable.
4.1 Normal repaymentrepayment - Repayment by instalments
(a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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 fall not earlier than 30 (thirty) days from the Scheduled Disbursement Date and not later than the first Repayment Date immediately following the 5th 4th (fifthfourth) anniversary of the Scheduled Disbursement Date of the Tranche; and
(iv) the last Repayment Date of each Tranche shall be a Payment Date falling fall not earlier than 4 (four) years and not later than 30 15 (thirtyfifteen) years from the Scheduled Disbursement Date.
4.2 Voluntary prepayment
(a) the Prepayment Amount;
(b) the Prepayment Date, which shall be a Payment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
(d) the Contract Number. The Prepayment Request shall be irrevocable.
Appears in 1 contract
Samples: Financial Agreement
Market Disruption Event. If at any time time:
(a) from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and ; and
(b) 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 Article 3.3 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. 1.2. If the Borrower does not refuse the disbursement in time, the parties Parties agree that the disbursement in EUR and the conditions thereof shall be fully binding for both parties.
(b) Parties. The Spread or the Fixed Rate previously accepted by the Borrower shall no longer be applicable for that Trancheapplicable.
4.1 Normal repaymentrepayment - Repayment by instalments
(a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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 30 (thirty) years from the Scheduled Disbursement Date.
4.2 Voluntary prepayment
(a) the Prepayment Amount;
(b) the Prepayment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
Appears in 1 contract
Samples: Financial Agreement
Market Disruption Event. If at any time time:
(a) from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and ; and
(b) 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 Article 3.3 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. 1.2. If the Borrower does not refuse the disbursement in time, the parties Parties agree that the disbursement in EUR and the conditions thereof shall be fully binding for both parties.
(b) Parties. The Spread or the Fixed Rate previously accepted by the Borrower shall no longer be applicable for that Trancheapplicable.
4.1 Normal repaymentrepayment - Repayment by instalments
(a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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 fall not earlier than 30 (thirty) days from the Scheduled Disbursement Date and not later than the first Repayment Date immediately following the 5th 3th (fifththird) anniversary of the Scheduled Disbursement Date of the Tranche; and
(iv) the last Repayment Date of each Tranche shall be a Payment Date falling fall not earlier than 4 (four) years and not later than 30 10 (thirtyten) years from the Scheduled Disbursement Date.
4.2 Voluntary prepayment
(a) the Prepayment Amount;
(b) the Prepayment Date, which shall be a Payment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
(d) the Contract Number. The Prepayment Request shall be irrevocable.
Appears in 1 contract
Samples: Финансијски Уговор
Market Disruption Event. If at any time time:
(a) from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and ; and
(b) 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 Article 3.3 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. 1.2. If the Borrower does not refuse the disbursement in time, the parties Parties agree that the disbursement in EUR and the conditions thereof shall be fully binding for both parties.
(b) Parties. The Spread or the Fixed Rate previously accepted by the Borrower shall no longer be applicable for that Trancheapplicable.
4.1 Normal repaymentrepayment - Repayment by instalments
(a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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 fall 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 fall not earlier than 4 (four) years and not later than 30 (thirty) years from the Scheduled Disbursement Date.
4.2 Voluntary prepayment
(a) the Prepayment Amount;
(b) the Prepayment Date which shall be a Payment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
(d) the Contract Number. The Prepayment Request shall be irrevocable.
Appears in 1 contract
Samples: Financial Agreement
Market Disruption Event. If at any time from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and 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 shall no longer be applicable for that Tranche.
4.1 Normal repayment
(a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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 30 (thirty) years from the Scheduled Disbursement Date.
4.2 Voluntary prepayment
(a) the Prepayment Amount;
(b) the Prepayment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
Appears in 1 contract
Samples: Financial Agreement
Market Disruption Event. If at any time time:
(a) from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and ; and
(b) 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 Article 3.3 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. 1.2. If the Borrower does not refuse the disbursement in time, the parties Parties agree that the disbursement in EUR and the conditions thereof shall be fully binding for both parties.
(b) Parties. The Spread or the Fixed Rate previously accepted by the Borrower shall no longer be applicable for that Trancheapplicable.
4.1 Normal repaymentrepayment - Repayment by instalments
(a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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 fall 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 fall not earlier than 4 (four) years and not later than 30 25 (thirtytwenty-five) years from the Scheduled Disbursement Date.
4.2 Voluntary prepayment
(a) the Prepayment Amount;
(b) the Prepayment Date which shall be a Payment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
(d) the Contract Number. The Prepayment Request shall be irrevocable.
Appears in 1 contract
Samples: Финансијски Уговор
Market Disruption Event. If at any time time:
(a) from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and ; and
(b) 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 Article 3.3 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. 1.2. If the Borrower does not refuse the disbursement in time, the parties Parties agree that the disbursement in EUR and the conditions thereof shall be fully binding for both parties.
(b) Parties. The Spread or the Fixed Rate previously accepted by the Borrower shall no longer be applicable for that Trancheapplicable.
4.1 Normal repaymentrepayment - Repayment by instalments
(a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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 fall 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 fall not earlier than 4 (four) years and not later than 30 (thirty) years from the Scheduled Disbursement Date.
4.2 Voluntary prepaymentprepayment 4.2.A Prepayment option
(a) the Prepayment Amount;
(b) the Prepayment Date which shall be a Payment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a)5.5.C; and
(d) the Contract Number. The Prepayment Request shall be irrevocable.
Appears in 1 contract
Samples: Financial Agreement
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 (thirty30) 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 percentage rate per annum which is 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 notification 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 . In such case, the Spread or the Fixed Rate previously accepted notified by the Borrower Bank in the Disbursement Offer shall no longer be applicable for that Trancheapplicable.
4.1 Normal repayment
(a) The Borrower shall repay each Tranche by instalments on the Repayment Payment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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 quarterlyannually, semi-annually or annually quarterly 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 quarterlyannual, semi-annual or annual quarterly instalments of principal;
(iii) the first Repayment Date repayment date of each Tranche shall be a Payment Date falling not earlier than 30 60 (thirtysixty) days from the Scheduled Disbursement Date and not later than the first Repayment Payment Date immediately following the 5th (fifth) anniversary of the Scheduled Disbursement Date of the Tranche; and
(iv) the last Repayment Date repayment date of each Tranche shall be a Payment Date falling not earlier than 4 (four) years and not later than 30 25 (thirtytwenty- five) years from the Scheduled Disbursement Date.
4.2 Voluntary prepayment
(a) the Prepayment Amount;
(b) the Prepayment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
Appears in 1 contract
Samples: Financial Agreement
Market Disruption Event. If at any time time:
(a) from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and ; and
(b) 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 Article 3.3 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. 1.2. If the Borrower does not refuse the disbursement in time, the parties Parties agree that the disbursement in EUR and the conditions thereof shall be fully binding for both parties.
(b) Parties. The Spread or the Fixed Rate previously accepted by the Borrower shall no longer be applicable for that Trancheapplicable.
4.1 Normal repaymentrepayment - Repayment by instalments
(a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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-semi- annual or annual instalments of principal;
(iii) the first Repayment Date of each Tranche shall be a Payment Date falling fall 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 fall not earlier than 4 (four) years and not later than 30 25 (thirtytwenty-five) years from the Scheduled Disbursement Date.
4.2 Voluntary prepayment
(a) the Prepayment Amount;
(b) the Prepayment Date which shall be a Payment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
(d) the Contract Number. The Prepayment Request shall be irrevocable.
Appears in 1 contract
Samples: Финансијски Уговор
Market Disruption Event. If at any time time:
(a) from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and ; and
(b) 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 Article 3.3 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. 1.2. If the Borrower does not refuse the disbursement in time, the parties Parties agree that the disbursement in EUR and the conditions thereof shall be fully binding for both parties.
(b) Parties. The Spread or the Fixed Rate previously accepted by the Borrower shall no longer be applicable for that Tranche.applicable. ARTICLE 4
4.1 Normal repaymentrepayment - Repayment by instalments
(a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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-semi- annual or annual instalments of principal;
(iii) the first Repayment Date of each Tranche shall be a Payment Date falling fall 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 fall not earlier than 4 (four) years and not later than 30 (thirty) years from the Scheduled Disbursement Date.
4.2 Voluntary prepayment
(a) the Prepayment Amount;
(b) the Prepayment Date which shall be a Payment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
(d) the Contract Number. The Prepayment Request shall be irrevocable.
Appears in 1 contract
Samples: Financial Agreement
Market Disruption Event. If at any time (i) from the receipt issuance by the Bank of a the Disbursement Acceptance Notice 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 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 notification 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 notified by the Borrower Bank in the Disbursement Notice shall no longer be applicable for that Trancheapplicable.
4.1 Normal repayment
(a) The Borrower shall repay each Tranche by instalments on the Repayment Payment Dates specified in the relevant Disbursement Offer Notice in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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 repayment date of each Tranche shall be a Payment Date falling not earlier than 30 60 (thirtysixty) days from the Scheduled Disbursement Date and not later than the first Repayment Payment Date immediately following the 5th 6th (fifthsixth) anniversary of the Scheduled Disbursement Date of the Tranche; and
(iv) the last Repayment Date repayment date of each Tranche shall be a Payment Date falling not earlier than 4 (four) years and not later than 30 25 (thirtytwentyfive) years from the Scheduled Disbursement Date.
4.2 Voluntary prepayment
(a) the Prepayment Amount;
(b) the Prepayment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
(d) the contract number ("FI nr 31.464") mentioned on the cover page of this Contract. Subject to Article 4.2.C the Prepayment Request shall be binding and irrevocable.
Appears in 1 contract
Samples: Financial Agreement
Market Disruption Event. If at any time time:
(a) from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and ; and
(b) 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 Article 3.3 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. 1.2. If the Borrower does not refuse the disbursement in time, the parties Parties agree that the disbursement in EUR and the conditions thereof shall be fully binding for both parties.
(b) Parties. The Spread or the Fixed Rate previously accepted by the Borrower shall no longer be applicable for that Trancheapplicable.
4.1 Normal repaymentrepayment - Repayment by instalments
(a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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 fall not earlier than 30 (thirty) days from the Scheduled Disbursement Date and not later than the first Repayment Date immediately following the 5th 4th (fifthfourth) anniversary of the Scheduled Disbursement Date of the Tranche; and
(iv) the last Repayment Date of each Tranche shall be a Payment Date falling fall not earlier than 4 (four) years and not later than 30 15 (thirtyfifteen) years from the Scheduled Disbursement Date.
4.2 Voluntary prepaymentprepayment 4.2.A Prepayment option
(a) the Prepayment Amount;
(b) the Prepayment Date, which shall be a Payment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
(d) the Contract Number. The Prepayment Request shall be irrevocable.
Appears in 1 contract
Samples: Financial Agreement
Market Disruption Event. If at any time time:
(a) from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and ; and
(b) 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 Article 3.3 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. 1.2. If the Borrower does not refuse the disbursement in time, the parties Parties agree that the disbursement in EUR and the conditions thereof shall be fully binding for both parties.
(b) Parties. The Spread or the Fixed Rate previously accepted by the Borrower shall no longer be applicable for that Trancheapplicable.
4.1 Normal repaymentrepayment - Repayment by instalments
(a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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-semi- annual or annual instalments of principal;
(iii) the first Repayment Date of each Tranche shall be a Payment Date falling fall 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 fall not earlier than 4 (four) years and not later than 30 25 (thirtytwenty-five) years from the Scheduled Disbursement Date.
4.2 Voluntary prepayment
(a) the Prepayment Amount;
(b) the Prepayment Date which shall be a Payment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
(d) the Contract Number. The Prepayment Request shall be irrevocable. 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. 4.2.B(3)REVISION/CONVERSION Prepayment of a Tranche on its Interest Revision/Conversion Date may be effected without indemnity except if the Borrower has accepted pursuant to Schedule D a Fixed Rate under an Interest Revision/Conversion Proposal. 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 due on the Prepayment Amount, as specified in the Prepayment Notice, and the fee under Article 4.2.D, if any. 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 and cancellation
(a) The Borrower shall promptly inform the Bank if a Project Cost Reduction Event has occurred or is likely to occur. At any time after the occurrence of a Project Cost Reduction Event the Bank may, 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 the limits referred to in paragraph (c) below 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.
(b) The Borrower shall effect payment of the amount demanded on the date specified by the Bank, such date falling not less than 30 (thirty) days from the date of the demand.
(c) For the purpose of this Article, "Project Cost Reduction Event" means that the total cost of the Project falls below the figure stated in Recital (b) so that the amount of the Credit exceeds:
(i) 50% (fifty per cent) and/or
(ii) when aggregated with the amount of any other funds from the European Union made available for the Project, 90% (ninety per cent), of such total cost of the Project. 4.3.A(2)NON-EIB FINANCING PREPAYMENT EVENT
(a) The Borrower shall promptly inform the Bank if a Non-EIB Financing Prepayment Event has occurred or is likely to occur. At any time after the occurrence of a Non-EIB Financing Prepayment Event 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.
(b) The proportion of the Credit that the Bank may cancel and 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.
(c) 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.
(d) Paragraph
(a) does not apply to any voluntary prepayment (or repurchase or cancellation, as the case may be) of a Non-EIB Financing:
(i) made with a prior written consent of the Bank;
(ii) made within a revolving credit facility; or
(iii) made out of the proceeds of any financial indebtedness having a term at least equal to the unexpired term of such Non-EIB Financing prepaid;
(e) For the purposes of this Article:
(i) Non-EIB Financing Prepayment Event" means any case where the Borrower, voluntarily prepays (for the avoidance of doubt, such prepayment shall include a voluntary repurchase or cancellation of any creditor's commitment, as the case may be) a part or the whole of any Non-EIB Financing; and
(ii) Non-EIB Financing" means any financial indebtedness (save for the Loan and any other direct financial indebtedness from the Bank to the Borrower), or any other obligation for the payment or repayment of money originally made available to the Borrower for a term of more than 3 (three) years. 4.3.A(3)CHANGE OF LAW EVENT 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:
(a) such Change-of-Law Event would materially impair the Borrower’s ability to perform its obligations under this Contract; and
(b) 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), or the imposition of any Sanctions, that occurs after the date of this Contract and which could materially impair the Borrower's ability to perform its obligations under this Contract. 4.3.A(4)ILLEGALITY EVENT
Appears in 1 contract
Samples: Финансијски Уговор
Market Disruption Event. If at any time from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and 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 shall no longer be applicable for that Tranche.
4.1 Normal repayment
(a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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 3th (fifththird) 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 30 10 (thirtyten) years from the Scheduled Disbursement Date.
4.2 Voluntary prepayment
(a) the Prepayment Amount;
(b) the Prepayment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
Appears in 1 contract
Samples: Financial Agreement
Market Disruption Event. If at any time time:
(a) from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and ; and
(b) 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 Article 3.3 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. 1.2. If the Borrower does not refuse the disbursement in time, the parties Parties agree that the disbursement in EUR and the conditions thereof shall be fully binding for both parties.
(b) Parties. The Spread or the Fixed Rate previously accepted by the Borrower shall no longer be applicable for that Trancheapplicable.
4.1 Normal repaymentrepayment – Repayment by instalments
(a) The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.
(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 fall 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 fall not earlier than 4 (four) years and not later than 30 25 (thirtytwenty-five) years from the Scheduled Disbursement Date.
4.2 Voluntary prepaymentprepayment 4.2.A Prepayment option
(a) the Prepayment Amount;
(b) the Prepayment Date which shall be a Payment Date;
(c) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and
(d) the Contract Number. The Prepayment Request shall be irrevocable.
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Samples: Financial Agreement