Payments. All payments received by the Lender under this Agreement shall be applied towards the payment of expenses, fees, interest, principal amounts or any other sum due under this Agreement in the following order:
1) incidental costs and expenses;
2) fees;
3) late-payment interest and default interest;
4) accrued interest;
5) principal repayments. Any payments received from the Borrower shall be applied first in or towards payment of any sums due and payable under the Facility or under other loans extended by the Lender to the Borrower, should it be in the Lender’s interest to apply these sums to such other loans, in the order set out above.
Payments. All the amounts due by the Borrower under this Agreement are payable in the Currency of each Tranche to the CEB’s account indicated in the applicable Disbursement Notice. Any payment under this Agreement shall be made on a Business Day subject to the Modified Following Business Day Convention. Any payment shall be deemed paid when the CEB has received the amount on its account. The Borrower or the bank instructed by the Borrower, as the case may be, shall send a written payment notice to the CEB at least five (5) Business Days before payment of any amounts due under this Agreement. All payments to be made by the Borrower under this Agreement shall be calculated and be made without (and free and clear of any deduction for) set-off or counterclaim. If the CEB receives a payment that is insufficient to discharge all the amounts then due and payable by the Borrower under this Agreement, the CEB shall apply that payment in or towards payment of: first, any fees, costs, charges or expenses due but unpaid under this Agreement; secondly, any accrued interest due but unpaid under this Agreement, thirdly, any principal due but unpaid under this Agreement; and fourthly, any other sum due but unpaid under this Agreement. PROJECT IMPLEMENTATION The Borrower shall implement the Project in accordance with the Agreement. The Borrower is the Republic of Serbia, acting through the Ministry of Finance (MoF). The Borrower designates the Ministry of Justice (MoJ) as the Project Implementing Entity (PIE). The entity in charge of the project’s implementation is the Project Implementation Unit (PIU), operating under the Administration for the Execution of Criminal Sanctions of the Ministry of Justice. The PIE shall ensure that the PIU is appropriately staffed and equipped throughout the Project implementation period, to the satisfaction of CEB. The Ministry of Justice has delegated the following competencies and tasks to the PIU: Coordination of activities with local governments and public utility companies, related to urban planning, construction of utility infrastructure, land acquisition, connection of facilities to infrastructure; Preparation of tender documentation and hiring of a designer and other services, goods and works; verification and evaluation of bids, reports and communication with the CEB and contracting; Preparation of project documentation for the new prison facility: project workshops, monitoring and approval; support for obtaining all necessary permits; Coord...
Payments. All the amounts due by the Borrower under this Agreement are payable in the Currency of each Tranche to the CEB’s account indicated in the applicable Disbursement Notice. Any payment under this Agreement shall be made on a Business Day subject to the Modified Following Business Day Convention. Any payment shall be deemed paid when the CEB has received the amount on its account. The Borrower or the bank instructed by the Borrower, as the case may be, shall send a written payment notice to the CEB at least five (5) Business Days before payment of any amounts due under this Agreement. All payments to be made by the Borrower under this Agreement shall be calculated and be made without (and free and clear of any deduction for) set-off or counterclaim. If the CEB receives a payment that is insufficient to discharge all the amounts then due and payable by the Borrower under this Agreement, the CEB shall apply that payment in or towards payment of:
(i) first, any fees, costs, charges or expenses due but unpaid under this Agreement;
(ii) secondly, any accrued interest due but unpaid under this Agreement, (iii)thirdly, any principal due but unpaid under this Agreement; and
Payments. Day count convention Time and place of payment No set-off by the Borrower Disruption to Payment Systems Application of sums received
Payments. 14.2 Set-off
Payments. 7.1 Payments by Guarantor
Payments. All payments to be made by the Borrower under this Loan Agreement shall be made in full without set-off or counterclaim whatsoever, free and clear of any deduction or withholding, in USD on the due date to the following account of the Lender: correspondent bank: Deutsche Bankers Trust Company Americas. SWIFT: XXXXXX00 account number: 00-000-000 beneficiary bank: National Bank of Abu Dhabi, Abu Dhabi SWIFT: XXXXXXXX account number: 0000000000 IBAN: XX00 0000 0000 0000 0000 000 account name: EMIRATE OF ABU DHABI-FINANCE DEPARTMENT.
Payments. 8.1 All payments to be made by the Borrower under this Loan Agreement shall be made in full without set-off or counterclaim whatsoever, free and clear of any deduction or withholding, in USD on the due date to the following account of the Lender: correspondent bank: Deutsche Bankers Trust Company Americas. New York. SWIFT: XXXXXX00 account number: 00-000-000 beneficiary bank: National Bank of Abu Dhabi, Abu Dhabi SWIFT: XXXXXXXX account number: 0000000000 IBAN: XX00 0000 0000 0000 0000 000 account name: EMIRATE OF ABU DHABI-FINANCE DEPARTMENT.
8.2 All payments by the Borrower under this Loan Agreement shall be made in such a manner that the funds shall be available before 3:00 pm (local time) in Abu Dhabi on their due date.
8.3 All Taxes and other Tax amounts (including, where applicable, any stamp duties and registration fees), payable upon the execution and/or the performance of, and/or with respect to, this Loan Agreement and the documents related thereto, shall be paid by the Borrower. If at any time any applicable law, regulation or regulatory requirement or any governmental authority, monetary agency or central banking authority in the country from which any payment due under this Loan Agreement for account of the Lender are to be made or any country to whose taxation laws the Borrower or the Lender may be subject, requires the Borrower to make any deduction or withholding in respect of Taxes from any payment due under this Loan Agreement for the account of the Lender, the sum due from the Borrower in respect of such payment shall be increased to the extent necessary to ensure that, after the making of such deduction or withholding, the Lender receives on the due date for such payment (free from any liability in respect of any such deduction or withholding) a net sum equal to the sum which it would have received had no such deduction or withholding been required to be made.
8.4 When any payment under the Loan Agreement would otherwise be due on a day which is not a Business Day, the due date for payment shall be extended to the next following Business Day, unless such Business Day falls in the next calendar month in which case payment shall be made on the immediately preceding Business Day.
8.5 If the Lender receives a payment that is insufficient to discharge all the amounts then due and payable by the Borrower under this Loan Agreement, the Lender shall apply that payment towards the obligations of the Borrower under the Loan Agreement in the follo...
Payments. 8.1. All payments to be made by the Borrower under a Finance Document shall be made in full without set-off or counterclaim whatsoever, free and clear of any deduction or withholding, in EUR on the due date to the account of the Lender notified by the Lender to the Borrower.
8.2. All payments by the Borrower under this Loan Agreement shall be made in such a manner that the funds shall be available before 18:00 pm (local time) in Baku on their due date.
8.3. All Taxes and other Tax amounts (including, where applicable, any stamp duties and registration fees), payable in the Republic of Serbia upon the execution and/or the performance of, and/or with respect to, this Loan and the documents related thereto shall be paid by the Borrower. If at any time any applicable law, regulation or regulatory requirement or any governmental authority, monetary agency or central banking authority in the country from which any payment due under the Finance Documents for account of the Lender are to be made or any country to whose taxation laws the Borrower may be subject, requires the Borrower to make any deduction or withholding in respect of Taxes from any payment due under the Finance Documents for the account of the Lender, the sum due from the Borrower in respect of such payment shall be increased to the extent necessary to ensure that, after the making of such deduction or withholding, the Lender receives on the due date for such payment (free from any liability in respect of any such deduction or withholding) a net sum equal to the sum which it would have received had no such deduction or withholding been required to be made.
8.4. When any payment under the Finance Documents would otherwise be due on a day which is not a Business Day, the due date for payment shall be extended to the next following Business Day unless such Business Day falls in the next calendar month in which case payment shall be made on the immediately preceding Business Day.
8.5. If the Lender receives a payment that is insufficient to discharge all the amounts then due and payable by the Borrower under the Finance Documents, the Lender shall apply that payment towards the obligations of the Borrower under the Finance Documents in the following order:
8.5.1. in or towards payment to the Lender of all reasonable costs, charges or expenses, inter alia, incurred by the Lender in enforcing its rights hereunder;
8.5.2. in or towards payment of the Commitment Fee as per Clause 13
8.5.3. in or towards pa...