Use of Proceeds of the Loan and the Grant. Section 3.01. The Beneficiary shall cause the proceeds of the Loan and the Grant to be applied to the financing of expenditures on the Project in accordance with the provisions of this Financing Agreement.
Use of Proceeds of the Loan and the Grant. Section 3.01. Tajikistan shall cause the proceeds of the Loan and the Grant to be applied to the financing of expenditures on the Project in accordance with the provisions of this Financing Agreement.
Use of Proceeds of the Loan and the Grant. Section 3.01. Lao PDR shall cause the proceeds of the Loan and the Grant to be applied to the financing of expenditures on the Project in accordance with the provisions of this Financing Agreement.
Use of Proceeds of the Loan and the Grant. Section 3.01. Except, as ADB may otherwise agree, the Beneficiary shall make the proceeds of the Loan and the Grant available to Balochistan, on the same terms and conditions, as are applicable to the Beneficiary. The foreign exchange risk of the Loan shall be borne by the Beneficiary. The Beneficiary shall cause the proceeds of the Loan and the Grant to be applied to the financing of expenditures on the Program in accordance with the provisions of this Financing Agreement.
Use of Proceeds of the Loan and the Grant. Section 3.01. (a) The Beneficiary shall relend to TDF the Subsidiary Loan Amount upon terms and conditions satisfactory to ADB, and shall cause TDF to apply such proceeds to the financing of expenditures for the Subprojects in accordance with the financing allocations for each Subproject as set out in detail in the XXX. Except as the Beneficiary and ADB shall otherwise agree, the terms of relending to TDF under the Subsidiary Loan Agreement shall include interest at a rate of 2% per annum and a repayment period of 23 years, inclusive of a grace period of 8 years. The Beneficiary shall assume the foreign exchange risk on all sums due and owing under the Subsidiary Loan Agreement. TDF shall onlend the funds to the Municipalities through Subloans on terms and conditions satisfactory to ADB at an interest rate of 5% per annum with a repayment period of 20 years, inclusive of a grace period of 5 years.
Use of Proceeds of the Loan and the Grant. Section 3.01. Sri Lanka shall cause the proceeds of the Loan and the Grant to be applied to the financing of expenditures on the Project in accordance with the provisions of this Financing Agreement.
Use of Proceeds of the Loan and the Grant. Section 3.01. (a) The Beneficiary shall make the proceeds of the Loan and the Grant available to DGPC under a Subsidiary Loan Agreement upon terms and conditions satisfactory to ADB. Except as ADB shall otherwise agree, the terms for the Subsidiary Loan Agreement shall include an interest rate, a repayment period and a grace period identical to the terms of this Financing Agreement; provided that DGPC shall bear foreign exchange risk. DGPC shall thereafter contribute the proceeds of the Loan and the Grant to THyE’s equity in accordance with the relevant provisions of the XXX.
Use of Proceeds of the Loan and the Grant. Section 3.01. The Beneficiary shall (a) make the proceeds of the Loan and a portion of the proceeds of the Grant in respect of Parts 1(A), 2 and 3 of the Project as described in Schedule 1 to this Financing Agreement available to DOR, and shall cause DOR to apply such proceeds to the financing of expenditures on the Project in accordance with the provisions of this Financing Agreement; and (b) make a portion of the proceeds of the Grant in respect of Parts 1(B) and 1(C) of the Project as described in Schedule 1 to this Financing Agreement available to PT, and shall cause PT to apply such proceeds to the financing of expenditures on the Project in accordance with the provisions of this Financing Agreement and the Project Agreement.
Use of Proceeds of the Loan and the Grant. Section 3.01. (a) Sri Lanka shall make the proceeds of the Loan and Grant available to NWSDB, under a Subsidiary Financing Agreement, in a blend of grant and loan on the following terms and conditions: (i) the financing for water supply schemes in areas under the Pradeshiya Sabhas shall be provided in a blend of 85% grant and 15% loan, whereby the loan portion shall be determined in local currency, have an interest charge of 10% per annum, and a repayment period of 25 years, including a 5-year grace period, and whereby Sri Lanka shall bear the foreign exchange risk; (ii) the financing for water supply in areas under the urban or municipal councils shall be provided in a blend of 50% grant and 50% loan, with the loan portion provided on the same terms and conditions as in (i) of this section; and (iii) the financing for septage treatment schemes shall be on a 100% grant financing.
Use of Proceeds of the Loan and the Grant. Section 3.01. (a) The Beneficiary shall make a portion of the Loan and the Grant proceeds available to ERRA, AJK and NWFP, and through NWFP to district governments, SHYDO and FHA on terms and conditions, in accordance with the existing policies and practices of the Beneficiary’s government or as approved by ECC. The Beneficiary shall make a portion of the Loan and the Grant proceeds available to PESCO and IESCO on the same terms and conditions as defined herein. The foreign exchange risk shall be borne by the Beneficiary.
