The Borrower shall. (a) establish and maintain a Project monitoring and information system, satisfactory to the Bank (the MIS), to enable it to monitor and evaluate on an on-going basis, in accordance with the performance indicators set forth in the Operational Manual, the carrying out of the Project and the achievement of the objective thereof;
The Borrower shall. A. Conduct its operations and keep and maintain all of its properties in compliance with all Environmental Laws.
The Borrower shall. (a) establish and maintain under the supervision of MIEE a unit central project (the UCP) with responsibilities for supervising and coordinating the execution of the Project and with qualified and experienced staff in numbers and having functions satisfactory to the Association;
The Borrower shall a. Deposit its funds in government Banks or any established bank duly approved by NEA.
The Borrower shall. (i) open and maintain a Project Account at BNR on terms and conditions satisfactory to the Association; (ii) promptly thereafter make an initial deposit into the Project Account in an amount equivalent to $50,000 to finance the Borrower’s initial contributions to the costs of the Project; (iii) make the following deposits into the Project Account: (A) an amount equivalent to $200,000 no later than six months after the beginning of the first Project Year, and (B) an amount equivalent to $250,000 no later than one month after the beginning of the second, third and fourth Project Years; and (iv) use the funds deposited in the Project Account exclusively for purposes of the Project.
The Borrower shall. (a) make full and timely payments of the principal and interest due and owing under the Note and the Indebtedness of the Borrower to the Lender, whether now existing or hereafter arising; (b) duly comply with all of the terms and covenants contained in each of the Loan Documents; and (c) at all times maintain the liens and security interests provided for under or pursuant to this Agreement and all other applicable Loan Documents as valid and perfected liens and security interests on the property intended to be covered thereby.
The Borrower shall. 16.1.1 as soon as the same become available, but in any event within 90 (ninety) days after the end of each of its financial years during the Term, deliver a copy of its audited annual financial statements to the Lender for such financial year; and
The Borrower shall a) Give a declaration to the effect that the Borrower has a clear and marketable title to the property offered as security which is free from all reasonable doubts and encumbrances and that the Borrower indemnifies and keeps BANK saved and harmless against any risk whatsoever.
The Borrower shall. (a) For the purposes of providing the Borrower with general guidance in respect of the Project, establish and thereafter maintain within SRH, until the completion of the Project, an advisory body with terms of reference as set forth in the Operational Manual, and the following composition: (i) two representatives from SRH, one of such representatives to be the President of such advisory body; (ii) one representative from each of the Participating Entities; (iii) the Coordinator-General of the SPMU; and (iv) two independent experts with experience and qualifications acceptable to the Bank and appointed by the Borrower’s Governor.
The Borrower shall. 1. Within 5 days after the date hereof deliver to the Trustee a written confirmation addressed to the Trustee by Gilat that the Trustee is registered in the Notes' Registry of Gilat as the Holder and Owner of the Notes and that it has received the Notice of the Assignment of Rights under the Agreements.
