Subsidiary Financing Institutional and Other Arrangements Clause Samples
The "Subsidiary Financing; Institutional and Other Arrangements" clause defines how financing provided under the main agreement may be channeled to subsidiary entities or through specific institutional frameworks. Typically, this clause outlines the mechanisms for disbursing funds to sub-projects, affiliated organizations, or implementing agencies, and may set requirements for establishing subsidiary agreements or compliance with certain institutional standards. Its core practical function is to ensure that the flow of funds and responsibilities are clearly structured and legally supported, thereby facilitating effective project implementation and minimizing risks related to misallocation or mismanagement of resources.
Subsidiary Financing Institutional and Other Arrangements. 1. To facilitate the carrying out of the Project, the Recipient shall make the proceeds of the Financing available to the Project Implementing Entity on a grant basis, under a Subsidiary Agreement to be entered into between the Recipient, the Project Implementing Entity and the Municipality of Dushanbe, under terms and conditions approved by the Association, which shall include the following, namely, that the Subsidiary Grant shall be denominated in US Dollars.
2. The Recipient shall exercise its rights under the Subsidiary Agreement in such manner as to protect the interests of the Recipient and the Association and to accomplish the purposes of the Financing. The Recipient shall not assign, amend, arrogate, or waive the Subsidiary Agreement or any of its provisions without prior approval by the Association.
3. The Recipient shall review, in accordance with established procedures, the periodic proposals for tariff adjustments submitted by the Project Implementing Entity at least annually, and thereafter, the Recipient, jointly with the Municipality of Dushanbe, shall promptly take action, in accordance with the applicable laws of the Republic of Tajikistan, to adjust said tariffs so that the Project Implementing Entity can meet its obligations by collecting sufficient revenues to cover operation and maintenance costs and other expenses.
4. The Recipient, jointly with the Municipality of Dushanbe, shall cause the Project Implementing Entity to implement the Operational Performance Improvement Action Plan in a timely and satisfactory manner.
5. The Recipient shall take all measures necessary to ensure that the Municipality of Dushanbe and the national government agencies shall, after review of the forecast amount of water consumption prepared by the Project Implementing Entity every six (6) months: (a) allocate in the relevant operating budgets of municipal entities adequate funds for payment of water fees; and (b) ensure that said funds are paid.
6. The Recipient shall, and shall cause, the Municipality of Dushanbe to take all measures necessary to ensure that the Project Implementing Entity is able to collect water fees from its customers.
7. The Recipient shall cause the Municipality of Dushanbe to take all measures necessary to ensure appropriate yearly local budgetary allocations required for Project implementation.
8. The Recipient shall ensure that all measures necessary for carrying out the EMMP, the Resettlement Policy Framework and the Resettlement...
Subsidiary Financing Institutional and Other Arrangements. A. Subsidiary Agreement
1. To facilitate the implementation of the Project by the Project Implementing Entity, the Recipient shall make the proceeds of the Financing available to the Project Implementing Entity on a grant basis under a subsidiary agreement between the Recipient and the Project Implementing Entity, under terms and conditions approved by the Association (“Subsidiary Agreement”).
2. The Recipient shall exercise its rights under the Subsidiary Agreement in such manner as to protect the interests of the Recipient and the Association and to accomplish the purposes of the Financing. Except as the Association shall otherwise agree, the Recipient shall not assign, amend, abrogate or waive the Subsidiary Agreement or any of its provisions.
Subsidiary Financing Institutional and Other Arrangements. A. Implementation Agreements
1. To facilitate the carrying out of Part 1.A (c) of the Project, the Borrower shall enter into a separate agreement with each WUA responsible for the Selected Irrigation Subproject, under terms and conditions acceptable to the Bank (the “Subproject Implementation Agreement”), which shall provide, inter alia, the terms and conditions for the carrying out of the Selected Irrigation Subproject, in accordance with the terms of this Agreement and the Operational Manual, including the WUA’s obligations to carry out the operation, management and maintenance of the Selected Irrigation Subproject in accordance with the terms and requirements of the Operational Manual and the Borrower’s obligation to procure the goods, works and services for the execution of the Selected Irrigation Subproject in accordance with the provisions of this Agreement.
2. The Borrower shall exercise its rights under each of the Subproject Implementation Agreements, in such manner as to protect the interests of the Borrower and the Bank and to accomplish the purposes of the Loan. Except as the Bank shall otherwise agree, the Borrower shall not assign, amend, abrogate, waive or fail to enforce any of the Subproject Implementation Agreements or any provision thereof.
Subsidiary Financing Institutional and Other Arrangements. A. Subsidiary Agreement
1. To facilitate the carrying out of the Project by BOT, the Recipient shall make the proceeds of the Financing available to BOT under a subsidiary agreement between the Recipient and BOT, under terms and conditions approved by the Association, which shall include the following obligations of BOT:
(a) carry out the Project with due diligence and efficiency, in conformity with appropriate administrative, financial and technical practices and in accordance with the Operations Manual, and provide, or cause to be provided, promptly as needed, the facilities, services and other resources required for the Project;
(b) comply with the procedures for procurement of goods, and consultant services set forth in the Procurement Plan;
(c) comply with record keeping, auditing and reporting requirements set forth in Section II.B (3) of this Schedule with respect to the Project, including the annual auditing of its records and accounts (operations, resources and expenditure) in respect of the Project;
(d) at the request of the Recipient or the Association, exchange views with the Recipient and the Association with regard to the progress of the Project and the performance of its obligations under the Subsidiary Agreement; and
(e) promptly inform the Recipient and the Association of any condition which interferes or threatens to interfere with the progress of the Project, or the performance of its obligations under the Subsidiary Agreement.
2. The Recipient shall exercise its rights under the Subsidiary Agreement in such manner as to protect the interests of the Recipient and the Association and to accomplish the purposes of the Financing. Except as the Association shall otherwise agree, the Recipient shall not assign, amend, abrogate or waive the Subsidiary Agreement or any of its provisions.
Subsidiary Financing Institutional and Other Arrangements. A. Institutional Arrangements
1. The Recipient shall delegate the responsibility for overall Project implementation, management and oversight to the Project Implementing Entity and shall throughout the duration of the Project implementation, maintain the Project Implementing Entity with functions, staffing and resources satisfactory to the Association.
2. In implementing the Project, the Recipient shall ensure that the Project Implementing Entity maintains the following committees with resources and appropriate staff to promote the effective carrying out of the Project, namely: a Programs Committee responsible for assessing, monitoring, evaluating and coordinating the Project; a Finance and Administration Committee; and an Audit Committee.
3. The Recipient shall, at all times during Project implementation, maintain; (i) an Inter- Agency Coordinating Committee (ICC) to be chaired by the Director of the Project Implementing Entity and comprising stakeholders from the government, civil society, the private sector and development partners working on HIV and AIDS, and which shall be responsible for high level coordination of the KNASP and coordination of the annual JAPR process; and, (ii) a Steering Committee of the ICC to be chaired by the Director of the Project Implementing Entity and comprising of a maximum of eighteen members from the ICC for the purposes of; (a) effecting communication flow with the members of the ICC, (b) advocating for effective collaboration and networking among the members of the ICC; and, (c) resolving disputes among the members of the ICC upon the request of the Project Implementing Entity.
4. The Recipient shall:
(a) carry out the Project in accordance with the Project Operations Manual in form and substance satisfactory to the Association, and the said Operations Manual to provide details of all the operational guidelines and procedures as shall have been agreed with the Association for the implementation, monitoring and supervision of the Project, including but not limited to the composition, terms of reference and mandates of the implementing agencies at the national, regional, and local levels; and
(b) not amend or waive any provision of the Operations Manual without prior approval of the Association.
Subsidiary Financing Institutional and Other Arrangements. A. Subsidiary Agreement
1. to facilitate the carrying out of the Project by FONAFIFO, the Borrower pursuant to a subsidiary agreement between the Borrower and FONAFIFO made under terms and conditions approved by the Bank (“Subsidiary Agreement”) shall: (a) make the proceeds of the Loan available to FONAFIFO; and (b) take all legal and policy measures needed to fully enable FONAFIFO to discharge its duties under this Agreement; and
2. the Borrower shall exercise its rights under the Subsidiary Agreement in such manner as to protect the interests of the Borrower and the Bank and to accomplish the purposes of the Loan. Except as the Bank shall otherwise agree, the Borrower shall not assign, amend, abrogate or waive the Subsidiary Agreement or any of its provisions.
Subsidiary Financing Institutional and Other Arrangements. A. Incorporation of Schedule 4 of the Original Financing Agreement
Subsidiary Financing Institutional and Other Arrangements. A. Subsidiary Agreement
1. to facilitate the carrying out of the Project by FONAFIFO, the Borrower pursuant to a subsidiary agreement between the Borrower and FONAFIFO made under terms and conditions approved by the Bank (“Subsidiary Agreement”) shall: (a) make the proceeds of the Loan available to FONAFIFO; and (b) take all legal and policy measures needed to fully enable FONAFIFO to discharge its duties under this Agreement; and
Subsidiary Financing Institutional and Other Arrangements. A. Subsidiary Agreements
1. To facilitate the carrying out of Part I of the Project by RNCMNR, the Borrower shall make part of the proceeds of the Loan available to RNCMNR under a subsidiary agreement between the Borrower’s Ministry of Public Finance, MTCT and RNCMNR (“RNCMNR Subsidiary Agreement”), under terms and conditions approved by the Bank.
2. To facilitate the carrying out of Part II of the Project by CFR, the Borrower shall make part of the proceeds of the Loan available to CFR under a subsidiary agreement between the Borrower’s Ministry of Public Finance, MTCT and CFR (“CFR Subsidiary Agreement”), under terms and conditions approved by the Bank.
3. The Borrower shall exercise its rights under the Subsidiary Agreements in such manner as to protect the interests of the Borrower and the Bank and to accomplish the purposes of the Loan. Except as the Bank shall otherwise agree, the Borrower shall not assign, amend, abrogate or waive the Subsidiary Agreements or any of their respective provisions.
Subsidiary Financing Institutional and Other Arrangements. A. Subsidiary Agreement
1. To facilitate the carrying out of the Project by TRA, the Recipient shall make the proceeds of the Financing available to TRA under a subsidiary agreement between the Recipient and TRA, under terms and conditions approved by the Association, which shall include the following obligations of TRA:
(a) carry out the Project with due diligence and efficiency, in conformity with appropriate administrative, financial and technical practices and in accordance with the Operations Manual, and provide, or cause to be provided, promptly as needed, the facilities, services and other resources required for the Project;
(b) comply with the procedures for procurement of goods, and consultant services set forth in the Procurement Plan;
(c) comply with record keeping, auditing and reporting requirements set forth in Section II.B(3) of this Schedule with respect to the Project, including the annual auditing of its records and accounts (operations, resources and expenditure) in respect of the Project;
(d) at the request of the Recipient or the Association, exchange views with the Recipient and the Association with regard to the progress of the Project and the performance of its obligations under the Subsidiary Agreement; and
(e) promptly inform the Recipient and the Association of any condition which interferes or threatens to interfere with the progress of the Project, or the performance of its obligations under the Subsidiary Agreement.
2. The Recipient shall exercise its rights under the Subsidiary Agreement in such manner as to protect the interests of the Recipient and the Association and to accomplish the purposes of the Financing. Except as the Association shall otherwise agree, the Recipient shall not assign, amend, arrogate or waive the Subsidiary Agreement of any of its provisions.