Zakon o potvrđivanju Ugovora o kreditnom aranžmanu br. CRS1028 01 G između Francuske agencije za razvoj, kao Zajmodavca i Republike Srbije, kao Zajmoprimca za Projekat modernizacije železničkog sektora u Srbiji - druga faza
Status propisa
Na snazi
Prikazana Verzija
Nema dostupnih verzija
Opšte Informacije
Donosilac
Narodna skupština Republike Srbije
Član 13.1 Zakon o potvrđivanju Ugovora o kreditnom aranžmanu br. CRS1028 01 G između Francuske agencije za razvoj, kao Zajmodavca i Republike Srbije, kao Zajmoprimca za Projekat modernizacije železničkog sektora u Srbiji - druga faza – Events of Default
The Borrower does not pay on the due date any amount payable by it under this Agreement in the manner required under this Agreement. However, without prejudice to
(Late payment and default interest), no Event of Default will occur under this paragraph (a) if such payment is made in full by the Borrower within five (5) Business Days of the due date.
b)
Project Documents
Any Project Document, or any of the rights and obligations set out therein, ceases to be in full force and effect, is subject to a notice of termination or its validity, legality or enforceability is challenged.
No Event of Default will occur pursuant to this paragraph (b) if (i) the challenge or notice of termination is withdrawn within thirty (30) calendar days after the date on which the Lender informed the Borrower of such challenge or notice or the Borrower became aware of such challenge or notice; and (ii), according to the opinion of the Lender and the Co- financier, such dispute or request has not had a Material Adverse Effect during such thirty (30) day period.
c)
Undertakings and Obligations The Borrower does not comply with any term of the Agreement, including, without limitation, any of the undertakings it has given pursuant to Clause 11 (Undertakings) and Clause 12 (Information Undertakings).
Save for the undertakings given pursuant to Clauses 11.6 (Environmental and Social Liability), 11.12 (Financial Sanctions Lists and Embargo) and 11.13 (Licit Origin, absence of Prohibited Practices) in respect of which no grace period is permitted, no Event of Default will occur under this paragraph (c) if the non-compliance is capable of remedy and is remedied within five (5) Business Days of the earlier of (A) the date of the Lender’ notice of failure to the Borrower; and (B) the Borrower becoming aware of the breach, or within the time limit determined by the Lender in the case referred to in subparagraph 11.13(e) of
A representation or warranty made by the Borrower in the Agreement, including under Clause 10 (Representations and warranties), or in any document delivered by or on behalf of the Borrower under or in relation to the Agreement, is incorrect or misleading when made or deemed to be made.
e)
Cross Default
(i)
Subject to paragraph (iii), any Financial Indebtedness of the Borrower is not paid on its due date or, if applicable, within any grace period granted pursuant to the relevant documentation.
(ii)
Subject to paragraph (iii), a creditor has cancelled or suspended its commitment towards the Borrower pursuant to any Financial Indebtedness, or has declared the Financial Indebtedness due and payable prior to its specified maturity, or requested prepayment in full of the Financial Indebtedness, in each case, as a result of an event of default or any provision having a similar effect (howsoever described) pursuant to the relevant documentation.
if the relevant amount of Financial Indebtedness or the commitment for Financial Indebtedness falling within paragraphs (i) and (ii) above is less than thirty millions Euros (EUR 30,000,000) (or its equivalent in any other currency(ies)).
f)
Unlawfulness
It is or becomes unlawful for the Borrower to perform any of its obligations under this Agreement.
g)
Material adverse change
Any event (including a change in the political situation of the country of the Borrower) or any measure which is likely, according to the Lender’s opinion, to have a Material Adverse Effect occurs or is likely to occur.
h)
Withdrawal or suspension of the Project
Any of the following occurs:
i)
the implementation of the Project is suspended or postponed for a period exceeding six (6) months; or
ii)
the Project has not been completed in full by the Deadline for Use of Funds; or
iii)
the Borrower withdraws from, or ceases to participate in, the Project.
i)
Authorisations
Any Authorisation required for the Borrower in order to perform or comply with its obligations under this Agreement or its other material obligations under any Project Documents or required in the ordinary course of the Project is not obtained within the required timeframe or is cancelled or becomes invalid or otherwise ceases to be in full force and effect.
j)
Judgments, rulings or decisions having a Material Adverse Effect
Any judgment or arbitral award or any judicial or administrative decision affecting the Borrower has or is reasonably likely, according to the opinion of the Lender, to have a Material Adverse Effect, occurs or is likely to occur.
k)
Suspension of free convertibility and free transfer
Free convertibility and free transfer of any of the amounts due by the Borrower under this Agreement, or any other facility provided by the Lender to the Borrower or any other borrower of the jurisdiction of the Borrower, is challenged and the actions taken in accordance with