Zakon o potvrđivanju Finansijskog ugovora Održivo unapređenje putne mreže između Republike Srbije i Evropske investicione banke
Status propisa
Na snazi
Prikazana Verzija
Nema dostupnih verzija
Opšte Informacije
Donosilac
Narodna skupština Republike Srbije
Član 4.3.A Zakon o potvrđivanju Finansijskog ugovora Održivo unapređenje putne mreže između Republike Srbije i Evropske investicione banke – Prepayment Events
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 limit(s) 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 together with any other credits provided by the Bank for this Project) 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, 70% (seventy 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;
(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 5 (five) 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 such 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 could impair the Borrower's ability to perform its obligations under this Contract.
4.3.A(4) ILLEGALITY EVENT
a)
Upon becoming aware of an Illegality Event:
(i)
the Bank shall promptly notify the Borrower, and
(ii)
the Bank may immediately (A) suspend or cancel the undisbursed portion of the Credit, and/or (B) demand prepayment of the Loan Outstanding, together with accrued interest and all other amounts accrued and outstanding under this Contract on the date indicated by the Bank in its notice to the Borrower.
b)
For the purposes of this Article, "Illegality Event" means that:
(i)
it becomes unlawful in any applicable jurisdiction, or it becomes or the Bank has reasonable cause to expect that it may become contrary to any Sanctions, for the Bank to:
(A) perform any of its obligations as contemplated in this Contract; or
(B) fund or maintain the Loan;
ii)
the Framework Agreement is or is likely to be:
(A) repudiated by the Republic of Serbia or not binding on the Republic of Serbia in any respect;
(B) not effective in accordance with its terms or is alleged by the Borrower to be ineffective in accordance with its terms.
(C) breached by the Republic of Serbia, in that any obligation assumed by the Republic of Serbia under the Framework Agreement ceases to be fulfilled as regards any financing made to any borrower in the territory of the Republic of Serbia from the resources of the Bank, or the EU; or
(D) not applicable to the Project or the rights of the Bank under the Framework Agreement cannot be enforced in respect of the Project;
iii)
in respect of the EFSD+ DIW1 Guarantee:
(A) it is no longer valid or in full force and effect;
(B) the conditions for cover thereunder are not fulfilled;
(C) it is not effective in accordance with its terms or is alleged to be ineffective in accordance with its terms; or
(D) Republic of Serbia ceases to be an eligible country pursuant to the NDICI-GE Regulation, the IPA III Regulation, or any other applicable law or instrument governing EFSD+.
4.3.A(5) FAILURE TO REALLOCATE
The Borrower shall immediately prepay any part of the Loan Outstanding, which has not been reallocated in accordance with
, together with accrued interest and all other amounts accrued or outstanding under this Contract 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.