Payment Failure. The Recipient has failed to make payment of principal or interest or any other amount due to IBRD or ▇▇▇: (i) under any agreement between IBRD and the Recipient; or (ii) under any agreement between the Recipient and ▇▇▇; or (iii) in consequence of any guarantee extended or financial obligation of any kind assumed by IBRD or ▇▇▇ to any third party with the agreement of the Recipient.
Appears in 4 contracts
Sources: Grant Agreement, Grant Agreement, Grant Agreement
Payment Failure. The Recipient has failed to make payment (notwithstanding the fact that such payment may have been made by a third party) of principal or interest principal, interest, service charges, or any other amount due to IBRD or ▇▇▇▇ or IBRD: (i) under any agreement between IBRD and the Recipient; or (ii) under any agreement between the Recipient and ▇▇▇; or (ii) under any agreement between the Recipient and IBRD; and (iii) in consequence of any guarantee extended or other financial obligation of any kind assumed by IBRD or ▇▇▇ or IBRD to any third party with the agreement of the Recipient.
Appears in 2 contracts
Sources: Global Environment Facility Grant Agreement, Global Environment Facility Grant Agreement
Payment Failure. The Recipient has failed to make payment (notwithstanding the fact that such payment may have been made by a third party) of principal or interest principal, interest, service charges, or any other amount due to IBRD or ▇▇▇▇ or IBRD: (i) under any agreement between IBRD and the Recipient; or (ii) under any agreement between the Recipient and ▇▇▇; or (ii) under any agreement between the Recipient and IBRD; and (iii) in consequence of any guarantee extended or other financial obligation of any kind assumed by IDA or IBRD or ▇▇▇ to any third party with the agreement of the Recipient.
Appears in 1 contract