AEDB definition
Examples of AEDB in a sentence
During such Extended Cure Period, the Agent shall keep the AEDB apprised of the Lenders’ or their designee’s efforts to cure such Seller Event of Default.
Copies of any filed claims or the receipt of any insurance proceeds shall be notified to AEDB within seven (7) Business Days of such filing or receipt of proceeds by the Seller.
Each report shall be submitted to the AEDB and shall include copies of all applications and notifications discussed in the report which have not been provided with a previous report.
The Seller shall make arrangements with respect to the installation and operation of an accounting and cost control system and for the appointment, as auditors, of a reputed firm of independent chartered accountants reasonably acceptable to the AEDB.
If the Seller has failed to comply with its obligations under this Agreement and such failure is the principal cause of the Seller’s difficulties in performing such activities, the AEDB may advise the Seller of such determination, and the GOP or the AEDB shall not be obligated to take any action to assist the Seller pursuant to this Article V (Support of the GOP) until such time as the Seller has fully complied with its obligations under this Agreement.
The Seller shall maintain complete and accurate records accounting for all transactions relating to any Restoration of the Complex, which records shall be subject to inspection and audit by the AEDB.
If Financial Closing does not occur in accordance with the requirements of the Letter of Support and the Letter of Support is terminated by AEDB in accordance with the terms of the Letter of Support, then this Agreement (together with any GOP or AEDB obligations under any Project Agreement that has become effective) shall terminate in its entirety without notice and without further action by the GOP or AEDB.
Upon such deemed approval the Seller shall be relieved of any obligation under this Agreement and all other relevant Project Agreements to obtain any further approval of AEDB only to the extent of the EPC Contractor or the country of manufacture of major pieces of equipment.
Thereafter, the Seller shall provide the AEDB with a certificate of a duly authorized officer of the Seller setting out details of (i) a change in the EPC Contractor, or (ii) a change in the country of manufacture of a major piece of equipment, (a “Proposed Material Amendment”), no later than fifteen (15) Business Days prior to execution of an amendment to the EPC Contract, setting forth the proposed changes.
In addition to the rights the GOP may have under this Agreement or under the Laws of Pakistan, in the event that the Seller fails to submit any of the documents, reports or information as and when required under this Agreement, the GOP shall be entitled to assess against and recover from the Seller reasonable costs established from time to time by the AEDB for such non-compliance.