Common use of Closing Period Clause in Contracts

Closing Period. The Borrower or the Executing Agency, as the case may be, shall: (a) present to the Bank’s satisfaction, within a period of ninety (90) days from the date stipulated for the final disbursement of the Financing, the supporting documentation relating to expenditures made for the execution of the Project, and any other information that the Bank may have requested; and (b) return to the Bank, at the latest on the day of expiration of the Closing Period, the balance of disbursed resources of the Financing that has not been duly justified. If audit services are to be financed with resources of the Financing, and such services will not be concluded or billed prior to the expiration of the Closing Period referred to in section (a) above, the Borrower or the Executing Agency, as the case may be, shall inform and reach agreement with the Bank as to the way in which payment for such services will take place, and shall return to the Bank the resources of the Financing allotted for such purpose, should the Bank not receive the audited financial statements and/or audited financial reports within the periods stipulated in this Contract.

Closing Period. 2 The Borrower Beneficiary or the Executing Agency, as the case may be, shall: (a) present to the Bank’s satisfaction, within a period of ninety (90) days from the date stipulated for the final disbursement of the FinancingContribution, the supporting documentation relating to expenditures made for the execution of the Project, and any other information that the Bank may have requested; and (b) return to the Bank, at the latest on the day date of expiration of the Closing Period, the balance of the disbursed resources of the Financing Contribution that has have not been utilized or not been duly justified. If audit services are to be financed with resources of the FinancingContribution, and such services will not be concluded or billed and paid for prior to the expiration of the Closing Period referred to in section (a) above, the Borrower Beneficiary or the Executing Agency, as the case may be, shall inform and reach agreement with the Bank as to the way in which payment for such services will take place, and shall return to the Bank the resources of the Financing Contribution allotted for such purpose, should the Bank not receive the audited financial statements and/or and other audited financial reports within the periods stipulated in this ContractAgreement.

Closing Period. The Borrower Beneficiary or the Executing Agency, as the case may be, shall: (a) present to the Bank’s satisfaction, within a period of ninety (90) days from the date stipulated for the final disbursement of the FinancingContribution, the supporting documentation relating to expenditures made for the execution of the Project, and any other information that the Bank may have requested; and (b) return to the Bank, at the latest on the day of expiration of the Closing Period, the balance of disbursed resources of the Financing Contribution that has not been duly justifiedjustified or used. If audit services are to be financed with resources of the FinancingContribution, and such services will not be concluded or billed prior to the expiration of the Closing Period referred to in section (a) above, the Borrower Beneficiary or the Executing Agency, as the case may be, shall inform and reach agreement with the Bank as to the way in which payment for such services will take place, and shall return to the Bank the resources of the Financing Contribution allotted for such purpose, should the Bank not receive the audited financial statements and/or audited financial reports within the periods stipulated in this Contract.Agreement. CHAPTER IV