Fiscal Agent and Procurement Agent Clause Samples

The 'Fiscal Agent and Procurement Agent' clause designates specific parties responsible for managing financial transactions and procurement activities on behalf of an organization or project. Typically, the fiscal agent oversees the receipt, disbursement, and accounting of funds, while the procurement agent handles the acquisition of goods and services according to agreed procedures. This clause ensures clear assignment of these critical administrative roles, thereby promoting accountability, transparency, and efficient management of resources.
Fiscal Agent and Procurement Agent. Unless MCC approves otherwise in writing, Mozambique shall engage a firm with expertise in financial management and reporting to serve as fiscal agent (the “Fiscal Agent”), and an individual or firm with expertise in public procurement and contract management to serve as procurement agent (the “Procurement Agent”). It is expected that the Fiscal Agent and Procurement Agent, respectively, shall assist Mozambique to ensure that all Program-related financial management activities and procurements are conducted in strict compliance with the principles, rules, and procedures set out in this Compact, the Program Guidelines, and related procedures or guidance. The duties of the Fiscal Agent and Procurement Agent, respectively, shall include those set forth in the Program Implementation Agreement, as well as those set forth in the respective agreements, each in form and substance satisfactory to MCC, entered into between Mozambique and each agent. A multi-year financial plan summary (“Multi-Year Financial Plan Summary”) for the Program is attached to this Annex II as Exhibit A. By such time as specified in the Program Implementation Agreement, Mozambique shall adopt, subject to MCC approval, a multi-year financial plan that includes, in addition to the multi-year summary of estimated MCC Funding and the Country Contribution, the annual and quarterly funding requirements for the Program (including administrative costs) and for each Project, projected both on a commitment and cash requirement basis. MULTI-YEAR FINANCIAL PLAN SUMMARY US$ CFF Year 1 Year 2 Year 3 Year 4 Year 5 Total 1.1 Licungo Bridge + Mocuba Bypass $ 17,060,000 $ 32,293,000 $ 34,592,000 $ 58,841,000 $ 24,621,000 $ 33,594,000 $ 201,001,000 1.2 Rural Roads $ 2,440,000 $ 9,793,000 $ 21,192,000 $ 17,036,000 $ 11,269,000 $ 21,769,000 $ 83,499,000
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Fiscal Agent and Procurement Agent. Unless MCC agrees otherwise in writing, the Government shall engage an individual or firm with expertise in financial management and reporting to serve as fiscal agent (the “Fiscal Agent”), and an individual or firm with expertise in public procurement and contract management to serve as procurement agent (the “Procurement Agent”). It is expected that the Fiscal Agent and Procurement Agent, respectively, shall help the Government ensure that all Program-related financial management activities and procurements are conducted in strict compliance with the principles, rules, and procedures set out in this Compact and related MCC policies, procedures, or guidance. The duties of the Fiscal Agent and Procurement Agent, respectively, shall include those set forth in the Program Implementation Agreement as well as those set forth in the respective agreements, each in form and substance satisfactory to MCC, entered into between the Government and each agent.
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Fiscal Agent and Procurement Agent. Unless MCC approves otherwise in writing, the Government shall engage a firm with expertise in financial management and reporting to serve as fiscal agent (the “Fiscal Agent”), and an individual or firm with expertise in public procurement and contract management to serve as procurement agent (the “Procurement Agent”). It is expected that the Fiscal Agent and Procurement Agent, respectively, shall assist the Government to ensure that all Program-related financial management activities and procurements are conducted in strict compliance with the principles, rules, and procedures set out in this Compact and related MCC policies, procedures, or guidance. The duties of the Fiscal Agent and Procurement Agent, respectively, shall include those set forth in the Program Implementation Agreement, as well as those set forth in the respective agreements, each in form and substance satisfactory to MCC, entered into between the Government and each agent. A multi-year financial plan summary (“Multi-Year Financial Plan Summary”) for the Program is attached to this Annex II as Exhibit A. By such time as specified in the Program Implementation Agreement, the Government shall adopt, subject to MCC approval, a multi-year financial plan that includes, in addition to the multi-year summary of estimated MCC Funding and the Government Contribution, the annual and quarterly funding requirements for the Program (including administrative costs) and for each Project, projected both on a commitment and cash requirement basis. The Government Contribution or “co-investment” of Forty-Eight Million Six Hundred Seventy- Five Thousand Dollars (US$48,675,000) is equal to 7.5% of MCC Funding, meeting the minimum requirements of the Guidelines for Country Contributions. As described in Part A of Annex I, the Compact has been developed in alignment with the priorities of the Government.
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Fiscal Agent and Procurement Agent. Unless MCC approves otherwise in writing, MCA-Zambia II shall engage a firm with expertise in financial management and reporting to serve as fiscal agent (the “Fiscal Agent”), and a firm with expertise in public procurement and contract administration and management to serve as procurement agent (the “Procurement Agent”). It is expected that the Fiscal Agent and Procurement Agent, respectively, shall assist MCA-Zambia II to ensure that all Program-related financial management activities and procurements are conducted in strict compliance with the Program Guidelines. The duties of the Fiscal Agent and Procurement Agent, respectively, shall include those set forth in the Program Implementation Agreement, as well as those set forth in the respective agreements, each in form and substance satisfactory to MCC, entered into between MCA-Zambia II and each agent. A multi-year financial plan summary (“Multi-Year Financial Plan Summary”) for the Program is attached to this Annex II as Exhibit A. By such time as specified in the Program Implementation Agreement, Zambia shall adopt, subject to MCC approval, a multi-year financial plan that includes, in addition to the multi-year summary of estimated MCC Funding and the Country Contribution, the annual and quarterly funding requirements for the Program (including administrative costs) and for each Project, projected both on a commitment and cash requirement basis.
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Fiscal Agent and Procurement Agent. Unless MCC approves otherwise in writing, Sierra Leone shall engage a firm with expertise in financial management and reporting to serve as fiscal agent (the “Fiscal Agent”), and an individual or firm with expertise in public procurement and contract management to serve as procurement agent (the “Procurement Agent”). It is expected that the Fiscal Agent and Procurement Agent, respectively, shall assist Sierra Leone to ensure that all Program-related financial management activities and procurements are conducted in strict compliance with the principles, rules, and procedures set out in this Compact and related MCC policies, procedures, or guidance. The duties of the Fiscal Agent and Procurement Agent, respectively, shall include those set forth in the Program Implementation Agreement, as well as those set forth in the respective agreements, each in form and substance satisfactory to MCC, entered into between Sierra Leone and each agent. A multi-year financial plan summary (“Multi-Year Financial Plan Summary”) for the Program is attached to this Annex II as Exhibit A. By such time as specified in the Program Implementation Agreement, Sierra Leone shall adopt, subject to MCC approval, a multi-year financial plan that includes, in addition to the multi-year summary of estimated MCC Funding and the Country Contribution, the annual and quarterly funding requirements for the Program (including administrative costs) and for each Project, projected both on a commitment and cash requirement basis. Transmission Dispatch Centers Activity $717,000 $3,265,000 $5,017,000 $6,061,000 $5,253,000 $3,134,000 $23,447,000 Southern Transmission Corridor Activity $9,480,000 $25,430,000 $36,080,000 $43,280,000 $35,140,000 $21,490,000 $170,900,000 Bumbuna-Freetown Line Upgrade Activity $490,000 $3,360,000 $5,280,000 $6,520,000 $5,530,000 $3,210,000 $24,390,000 EGTC Capacity Building Activity $415,000 $955,000 $2,387,500 $2,342,500 $910,000 $955,000 $7,965,000 Distribution Dispatch Centers Activity $2,254,000 $5,190,000 $6,930,000 $7,800,000 $5,310,000 $3,070,000 $30,554,000 Distribution Refurbishment Activity $1,735,000 $5,870,000 $8,940,000 $11,500,000 $10,040,000 $6,250,000 $44,335,000 Access Activity $1,050,000 $3,230,000 $4,840,000 $5,500,000 $6,590,000 $5,640,000 $26,850,000 EDSA Capacity Building Activity $1,045,000 $2,085,000 $5,212,500 $7,297,500 $4,170,000 $2,085,000 $21,895,000 Financial Sustainability Activity $1,900,000 $1,597,500 $2,341,250 $1,507,500 $681,250 $272,500...
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Fiscal Agent and Procurement Agent. The procurement process for the acquisition of computer equipment for DGCP and Budget department has been launched following the request from the MFP. After the publication of notices in the newspaper, MCA-CV received 4 proposals that have been submitted to the evaluation committee for consideration.
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Fiscal Agent and Procurement Agent. Unless MCC agrees otherwise in writing, the Government shall engage an individual or firm with expertise in financial management and reporting to serve as fiscal agent (the “Fiscal Agent”), and an individual or firm with expertise in public procurement and contract management to serve as procurement agent (the “Procurement Agent”). It is expected that the Fiscal Agent and Procurement Agent, respectively, shall help the Government ensure that all Program-related financial management activities and procurements are conducted in strict compliance with the principles, rules, and procedures set out in this Compact and related MCC policies, procedures, or guidance. The duties of the Fiscal Agent and Procurement Agent, respectively, shall include those set forth in the Program Implementation Agreement, as well as those set forth in the respective agreements, each in form and substance satisfactory to MCC, entered into between the Government and each agent. A multi-year financial plan summary (“Multi-Year Financial Plan Summary”) for the Program is attached to this Annex as Exhibit A. By such time as specified in the Program Implementation Agreement, the Government shall adopt, subject to MCC approval, a multi-year financial plan that includes, in addition to the multi-year summary of estimated MCC Funding and the Government Contribution of funds and resources, the annual and quarterly funding requirements for the Program (including administrative costs) and for each Project, projected both on a commitment and cash requirement basis. 1.1 PHC Service Provision 879,000 5,011,000 5,892,000 5,892,000 6,185,000 6,479,000 30,338,000 1.2 DHMT Reform 931,000 3,677,000 4,322,000 4,322,000 4,537,000 4,752,000 22,541,000 1.3 Digital Health 289,000 3,784,000 4,447,000 4,447,000 4,669,000 4,890,000 22,526,000 2.1 Institutional Reform 2.2 Irrigated Horticulture Support Services 2.3 Irrigation Infrastructure Development 3,025,000 4,890,000 5,962,000 3,835,000 4,844,000 12,270,000 3,835,000 4,844,000 12,270,000 3,835,000 4,844,000 12,270,000 3,835,000 4,844,000 12,270,000 3,835,000 4,844,000 12,270,000 22,200,000 29,110,000 67,312,000 3.1 Pipeline Development 3.2 Strengthening the Business Ecosystem 3.3 Financial Ecosystem Strengthening 2,000,000 1,500,000 1,000,000 5,400,000 3,700,000 2,400,000 5,400,000 3,700,000 2,400,000 5,400,000 3,700,000 2,400,000 5,400,000 3,700,000 2,400,000 5,400,000 3,700,000 2,400,000 29,000,000 20,000,000 13,000,000 4.1 American Catalyst Facility for...
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Related to Fiscal Agent and Procurement Agent

  • Successor Administrative Agent and Collateral Agent (a) The Administrative Agent may resign as Administrative Agent upon 30 days’ notice to the Lenders and the Company. If the Administrative Agent shall resign as Administrative Agent under this Agreement and the other Loan Documents, then the Required Lenders shall appoint from among the Lenders a successor agent for the Lenders, which successor agent shall (unless an Event of Default under Section 8(a) or Section 8(f) with respect to any Borrower shall have occurred and be continuing) be subject to approval by the Company (which approval shall not be unreasonably withheld or delayed), whereupon such successor agent shall succeed to the rights, powers and duties of the Administrative Agent and the term “Administrative Agent” shall mean such successor agent effective upon such appointment and approval, and the former Administrative Agent’s rights, powers and duties as Administrative Agent shall be terminated, without any other or further act or deed on the part of such former Administrative Agent or any of the parties to this Agreement or any holders of the Loans. If no successor agent has accepted appointment as Administrative Agent by the date that is 30 days following a retiring Administrative Agent’s notice of resignation, the retiring Administrative Agent’s resignation shall nevertheless thereupon become effective, and the Lenders shall assume and perform all of the duties of the Administrative Agent hereunder until such time, if any, as the Required Lenders under this Agreement appoint a successor agent as provided for above. After any retiring Administrative Agent’s resignation as Administrative Agent, the provisions of this Section 9 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under this Agreement and the other Loan Documents.

  • Fiscal Agent procure the delivery to the Fiscal Agent of a CGN Temporary Global Note or a CGN Permanent Global Note with instructions to cancel a specified aggregate principal amount of Notes represented thereby (which instructions shall be accompanied by evidence satisfactory to the Fiscal Agent that the Issuer is entitled to give such instructions) whereupon the Fiscal Agent shall note or procure that there is noted on the Schedule to such CGN Temporary Global Note or (as the case may be) CGN Permanent Global Note the aggregate principal amount of Notes so to be cancelled and the remaining principal amount thereof (which shall be the previous principal amount thereof less the aggregate principal amount of the Notes so cancelled) and shall procure the signature of such notation on its behalf; or

  • Successor Administrative Agents An Administrative Agent may resign at any time by giving written notice thereof to the Lenders and Altria and may be removed at any time with or without cause by the Required Lenders. Upon the resignation or removal of JPMCB, as Administrative Agent, Citibank, as Administrative Agent, shall succeed to and become vested with all the rights, powers, discretion, privileges and duties of JPMCB, as Administrative Agent, and JPMCB, as Administrative Agent shall be discharged from its duties and obligations under this Agreement. Upon any other such resignation or removal which results in there being no Administrative Agent hereunder, the Required Lenders shall have the right to appoint a successor Administrative Agent. If no successor Administrative Agent shall have been so appointed by the Required Lenders, and shall have accepted such appointment, within 30 days after the retiring Administrative Agent’s giving of notice of resignation or the Required Lenders’ removal of the retiring Administrative Agent, then the retiring Administrative Agent may, on behalf of the Lenders, appoint a successor Administrative Agent, which shall be a commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $500,000,000. Upon the acceptance of any appointment as Administrative Agent hereunder by a successor Administrative Agent, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, discretion, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations under this Agreement. After any retiring Administrative Agent’s resignation or removal hereunder as Administrative Agent, the provisions of this Article VII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under this Agreement.

  • The Administrative Agent and the Collateral Agent Each of the Lenders hereby irrevocably appoints the Administrative Agent and the Collateral Agent (for purposes of this Article VIII, the Administrative Agent and the Collateral Agent are referred to collectively as the “Agents”) its agent and authorizes the Agents to take such actions on its behalf and to exercise such powers as are delegated to such Agent by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto. Without limiting the generality of the foregoing, the Agents are hereby expressly authorized to execute any and all documents (including releases) with respect to the Collateral and the rights of the Secured Parties with respect thereto, as contemplated by and in accordance with the provisions of this Agreement and the Security Documents. The Lenders acknowledge and agree that the Administrative Agent shall also act, subject to and in accordance with the terms of the Intercreditor Agreement as the administrative agent and collateral agent for the lenders under the First Lien Credit Agreement. The bank serving as the Administrative Agent and/or the Collateral Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not an Agent, and such bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with Holdings, the Borrower or any Subsidiary or other Affiliate thereof as if it were not an Agent hereunder. Neither Agent shall have any duties or obligations except those expressly set forth in the Loan Documents. Without limiting the generality of the foregoing, (a) neither Agent shall be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) neither Agent shall have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that such Agent is instructed in writing to exercise by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.08), and (c) except as expressly set forth in the Loan Documents, neither Agent shall have any duty to disclose, nor shall it be liable for the failure to disclose, any information relating to Holdings, the Borrower or any of the Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent and/or Collateral Agent or any of its Affiliates in any capacity. Neither Agent shall be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.08) or in the absence of its own gross negligence or willful misconduct. Neither Agent shall be deemed to have knowledge of any Default unless and until written notice thereof is given to such Agent by Holdings, the Borrower or a Lender, and neither Agent shall be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Loan Document, (ii) the contents of any certificate, report or other document delivered thereunder or in connection therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth in any Loan Document, (iv) the validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article IV or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be delivered to such Agent. Each Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing believed by it to be genuine and to have been signed or sent by the proper person. Each Agent may also rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper person, and shall not incur any liability for relying thereon. Each Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. Each Agent may perform any and all its duties and exercise its rights and powers by or through any one or more sub-agents appointed by it. Each Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties of each Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the Credit Facility as well as activities as Agent. Subject to the appointment and acceptance of a successor Agent as provided below, either Agent may resign at any time by notifying the Lenders and the Borrower. Upon any such resignation, the Required Lenders shall have the right, with the consent of the Borrower (not to be unreasonably withheld or delayed), unless a default of payment or bankruptcy is continuing, in which case no such consent shall be required, to appoint a successor, which shall be a bank with an office in the United States or an Affiliate of such bank with an office in the United States. If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Agent gives notice of its resignation (including, for greater certainty, due to the failure of the Borrower to consent to such appointment), then the retiring Agent may, on behalf of the Lenders, appoint a successor Agent which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon the acceptance of its appointment as Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations hereunder. The fees payable by the Borrower to a successor Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After an Agent’s resignation hereunder, the provisions of this Article and Section 9.05 shall continue in effect for the benefit of such retiring Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while acting as Agent. Each Lender acknowledges that it has, independently and without reliance upon the Agents or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Agents or any other Lender and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement or any other Loan Document any related agreement or any document furnished hereunder or thereunder.

  • Issuing Bank Reports to the Administrative Agent Unless otherwise agreed by the Administrative Agent, each Issuing Bank shall, in addition to its notification obligations set forth elsewhere in this Section, report in writing to the Administrative Agent (i) periodic activity (for such period or recurrent periods as shall be requested by the Administrative Agent) in respect of Letters of Credit issued by such Issuing Bank, including all issuances, extensions, amendments and renewals, all expirations and cancelations and all disbursements and reimbursements, (ii) reasonably prior to the time that such Issuing Bank issues, amends, renews or extends any Letter of Credit, the date of such issuance, amendment, renewal or extension, and the stated amount of the Letters of Credit issued, amended, renewed or extended by it and outstanding after giving effect to such issuance, amendment, renewal or extension (and whether the amounts thereof shall have changed), (iii) on each Business Day on which such Issuing Bank makes any LC Disbursement, the date and amount of such LC Disbursement, (iv) on any Business Day on which the Borrower fails to reimburse an LC Disbursement required to be reimbursed to such Issuing Bank on such day, the date of such failure and the amount of such LC Disbursement, and (v) on any other Business Day, such other information as the Administrative Agent shall reasonably request as to the Letters of Credit issued by such Issuing Bank.