Zakon o potvrđivanju Finansijskog ugovora Železnička pruga Niš - Dimitrovgrad B između Republike Srbije i Evropske investicione banke

Status propisa

Na snazi

Prikazana Verzija

Nema dostupnih verzija

Opšte Informacije

Donosilac	Narodna skupština Republike Srbije

CtrlK

Section4.3.A

Prepayment Events

4.3.A(1) PROJECT COST REDUCTION EVENT

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.

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.

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 (c) so that the amount of the Credit exceeds (together with any other credits provided by the Bank for this Project):

(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

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.

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.

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.

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.

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:

such Change-of-Law Event would materially impair the Borrower’s ability to perform its obligations under this Contract, and

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

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.

For the purposes of this Article, "Illegality Event" means that:

(i)

it becomes unlawful in any applicable jurisdiction, or 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;

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;

(D) the 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) PROJECT IMPLEMENTATION AGREEMENT

If:

any breach by the Promoter or the Final Beneficiary of any of its obligations under the Project Implementation Agreement occurs or any Material Adverse Change (as such term is defined in the Project Implementation Agreement) occurs, as compared with the Final Beneficiary’s condition at the date of the Project Implementation Agreement;

any information or document given to the Bank by or on behalf of the Promoter or the Final Beneficiary or any representation or statement made or deemed to be made by the Promoter or the Final Beneficiary in application of the Project implementation Agreement is or proves to have been incorrect, incomplete or misleading in any material respect; or

it is or becomes unlawful for the Promoter or the Final Beneficiary to perform any of its obligations under the Project Implementation Agreement or if the Project Implementation Agreement is not effective in accordance with its terms or is alleged by the Promoter or the Final Beneficiary to be ineffective in accordance with its terms,

the Bank may, by notice to the Borrower, immediately (i) cancel the undisbursed portion of the Credit and/or (ii) demand prepayment of the Loan, together with accrued interest and all other amounts accrued or 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.

Nastavi čitanje

←Prethodni član

4.3

Compulsory prepayment and cancellation

Član 4.3.A Zakon o potvrđivanju Finansijskog ugovora Železnička pruga Niš - Dimitrovgrad B između Republike Srbije i Evropske investicione banke – Prepayment Events

Prepayment Events