Use of Proceeds of the Grant. Section 3.01. The Recipient shall cause the proceeds of the Grant to be applied to the financing of expenditures on the Project in accordance with the provisions of this Grant Agreement.
Use of Proceeds of the Grant. Section 3.01. (a) The Recipient shall lend a portion of the Grant proceeds in the amount of $15,000,000 to DABS under a Subsidiary Loan Agreement upon terms and conditions satisfactory to ADB. Except as ADB shall otherwise agree, the terms for lending the proceeds of the Grant shall include a term of 32 years, with 8 year grace period, and interest at the rate of 1% per annum during grace period and 1.5% per annum thereafter, with the foreign exchange risk being borne by DABS.
Use of Proceeds of the Grant. Section 3.01. (a) The Recipient shall make the proceeds of the Grant available to TPL under a Subsidiary Grant Agreement upon terms and conditions satisfactory to ADB.
Use of Proceeds of the Grant. Section 3.01. The Recipient shall make the proceeds of the Grant available to the Project Executing Agency upon terms and conditions satisfactory to ADB and shall cause the Project Executing Agency such proceeds to the financing of expenditures on the Project in accordance with the provisions of this Grant Agreement and the Project Agreement.
Use of Proceeds of the Grant. Section 3.01. The Recipient shall make the proceeds of the Grant available to SPG and shall cause SPG to apply the proceeds of the Grant to the financing of expenditures on the Project in accordance with the provisions of this Grant Agreement.
Use of Proceeds of the Grant. Section 3.01. (a) The Recipient shall make available the proceeds of the Grant together with other funds required for the Project to NEA under a Subsidiary Grant Agreement upon terms and conditions satisfactory to ADB.
Use of Proceeds of the Grant. Section 3.01. The Recipient shall:
Use of Proceeds of the Grant. Section 3.01. (a) The Recipient shall make the proceeds of the Grant available to BWDB upon terms and conditions satisfactory to ADB and shall cause BWDB to apply such proceeds to the financing of expenditures on the Project in accordance with the provisions of this Grant Agreement and the Project Agreement.
Use of Proceeds of the Grant. Section 3.01. Bhutan shall cause the proceeds of the Grant to be applied to the financing of expenditures on the Project in accordance with the provisions of this Grant Agreement.
Use of Proceeds of the Grant. Section The Recipient shall cause the proceeds of the Grant to be applied to the financing of expenditures on the Project in accordance with the provisions of this Grant Agreement. The Recipient shall ensure that the portion of the Grant financed from ADF resources is used for the benefit of AMCs which are also borrower DMCs listed in Attachment 1 to Schedule 5 to this Grant Agreement. Activities in AMCs which are also non-ADF eligible borrower DMCs will be financed from TASF and JSF resources.
