The following are specified for purposes of Section 9.02(c) of the Standard Terms and Conditions as additional conditions to the effectiveness of this Agreement and the Project Agreement:
a)
ratification of the Loan Agreement by the Parliament of the Republic of Serbia;
b)
the Project Agreement, in form and substance satisfactory to the Bank, has been executed and delivered and all conditions precedents to its effectiveness, except only the effectiveness of the Loan Agreement, have been fulfilled;
c)
legal opinion in form and substance acceptable to the Bank from the Ministry of Justice confirming that the Loan Agreement has been duly authorised by the Borrower and constitutes a valid and legally binding obligation of the Borrower enforceable in accordance with its terms;
d)
legal opinion in form and substance acceptable to the Bank from the head of the legal department of the Project Entity confirming that the Project Agreement has been duly authorised by the Project Entity and constitute valid and legally binding obligations of the Project Entity enforceable in accordance with its term; and
e)
(if applicable), the execution and delivery of the WBIF Investment Grant Agreement signed by the Borrower, acting through MoME which has been duly authorised or ratified by all necessary governmental and corporate action.
The following are specified for purposes of Section 9.02(c) of the Standard Terms and Conditions as additional conditions to the drawdown under this Agreement:
a)
the Project Support Agreement, in form and substance satisfactory to the Bank, has been executed and delivered to the Bank;
b)
a Project Implementation Unit has been established by the MoME and the Project Entity with adequate resources and suitably qualified personnel, in form and substance satisfactory to the Bank, and is operational; and
c)
appointment of qualified consultants to support the Project Implementation Unit (in implementing the Project, including procurement, supervision of work, project management and reporting, financed out of WBIF grant funds, with engagement terms that are approved of by the Bank) have been appointed and mobilised to start their assignment, and are acceptable to Bank.
For purposes of Section 9.03(a) of the Standard Terms and Conditions the opinion or opinions of counsel shall be given on behalf of the Borrower by the Minister of Justice.
b)
For purposes of Section 9.03(c) of the Standard Terms and Conditions the opinion or opinions of counsel shall be given on behalf of the Project Entity by the head of the legal department of the Project Entity.