Common use of Reallocation Procedures Clause in Contracts

Reallocation Procedures. 1. 11A Reallocation at the request of the Borrower The Borrower may, by request in writing to the Bank, which shall include reasons thereof, and not be received later than the date falling six (6) months before the Final Availability Date, propose to reallocate until any part of the Loan, which, in accordance with the procedures described in Article 1.10, has been allocated to, but not spent on a Sub-project. The Borrower shall specify reallocations to the Bank as part of its regular reporting. The Bank may, in its discretion, accept the Borrower’s proposal for reallocation and reallocate any portion of the Loan in accordance with the provisions of Article 1.10. 1. 11B Reallocation at the request of the Bank The Borrower shall propose to reallocate any part of the Loan which has been allocated, in accordance with the procedures described in Article 1.10, in relation to a Sub-project, if such Sub-project, in the reasonable opinion of the Bank, becomes ineligible for financing by the Bank under the Bank’s Statute, policies or guidelines or under Article 309 of the Treaty on the Functioning of the European Union.