Zakon o potvrđivanju Finansijskog ugovora EPS Zeleno finansiranje A između Republike Srbije i Evropske investicione banke

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Član 6.5 Zakon o potvrđivanju Finansijskog ugovora EPS Zeleno finansiranje A između Republike Srbije i Evropske investicione banke – Continuing Project undertakings

Section6.5

Continuing Project undertakings

The Borrower (acting through the MoME) shall and shall ensure that the Promoter shall:
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 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: 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 the Environmental and Social Standards and the Bank’s Environmental, Climate and Social Guidelines on Hydropower Development3;
(ii)
obtain and maintain requisite Environmental or Social Approvals for the Project;
(iii)
comply with any such Environmental or Social Approvals; and
(iv)
provide any subsequent updates of the report on environmental compliance, where relevant, in accordance with Environmental Approvals, in relation to all Project components financed by the Bank.
f)
Accounts: ensure that the Promoter requests any disbursements from the Borrower under the Loan Fund Transfer Agreement, and the Borrower makes any such 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 located or where the Project is undertaken by the Promoter.