Section 3.03. Suspension and Cancellation

(a) From time to time, IFC may, by notice to the Borrower, suspend or cancel the right of the Borrower to further Disbursements:

(1) if the first Disbursement has not been made within 6 months following the date of this Agreement; or (2) i f an Event of Default or a Potential Event of Default has occurred and is continuing or if the Event of Default specified hereinafter is in the reasonable opinion of IFC, imminent; or (3) if any event or condition has occurred which has or can reasonably be expected to have a material adverse effect on the Borrower, the Sponsor, the Group or the Project.

(b) Upon the giving of such notice, the right of the Borrower to further Disbursements shall be suspended or cancelled as indicated in the notice. The exercise by IFC of the right of suspension shall not preclude IFC from exercising its right of cancellation as provided in this Section
3.03 either for the same or another reason, and shall not limit any other rights of IFC under the Financing Agreements. Upon any cancellation, the Borrower shall, subject to paragraph (d) of this Section 3.03, pay to IFC all fees and other amounts accrued (whether or not then due and payable) under this Agreement up to the date of that cancellation.

(c) Upon written request by the Borrower, IFC shall cancel the undisbursed portion of the Loan with effect as of the date specified in that request (not to be earlier than thirty (30) days after the date of the request) provided that, subject to paragraph (d) of this Section 3.03, IFC has received all fees and other amounts accrued (whether or not then due and payable) under this Agreement up to such specified date; and provided further that, if any amount of the Loan is then outstanding, IFC is reasonably satisfied that the Borrower has sufficient long-term funding available, on terms satisfactory to IFC, for timely completion of the Project.

(d) In the case of partial cancellation of the Loan pursuant to paragraph (b) or (c) of this Section 3.03, interest on the amount then outstanding of the Loan remains payable as provided for in Section 3.05.

Читайте також:

<== попередня сторінка	\|	наступна сторінка ==>
Section 3.02. Disbursements	\|	Section 3.05. Interest

Не знайшли потрібну інформацію? Скористайтесь пошуком google:

Генерація сторінки за: 0.005 сек.