Common use of Subsidiary Financing Institutional and Other Arrangements Clause in Contracts

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. Subsidiary Agreement 1. To facilitate the carrying out of UETCL’s respective Parts 1 and 2.5 of the Project by BOTProject, the Recipient shall make part of the proceeds Project Portion of the Financing available to BOT UETCL under a subsidiary agreement between the Recipient and BOTUETCL, under terms and conditions approved by the Association, which shall include the following obligations of BOTUETCL to: (a) carry out Parts 1 and 2.5 of the Project with due diligence and efficiency, in conformity with appropriate administrative, financial financial, technical and technical environmental practices and in accordance with the Operations ManualProject Implementation Plan, and provide, or cause to be provided, promptly as needed, the facilities, services and other resources required for Parts 1 and 2.5 of 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 (3II(B) of this the Schedule with respect to the ProjectProject Agreement, including the annual auditing of its records and accounts in respect of the Parts 1 and 2.5 of the Project (operations, resources and expenditure) 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 Parts 1 and 2.5 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 conditions which interferes or threatens to interfere with the progress of Parts 1 and 2.5 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.