Banobras definition

Banobras means Banco Nacional de Obras y Servicios Públicos S.N.C., the Mexican development bank responsible for promoting and financing infrastructure projects and public services.

Banobras means Banco Nacional de Obras y Servicios Públicos S.N.C., a Mexican development bank serving as the Borrower’s financial agent for purposes of the Loan;

Banobras shall be entitled to declare acceleration of any of the time periods specified herein and shall demand for immediate payment of any outstanding amounts on the account of principal, accrued interest and late interest and of any other financial expenses, upon the occurrence of any default or breach to the obligations herein of “CEMEX” and of “CEMEX MEXICO”, SOCIEDAD ANONIMA DE CAPITAL VARIABLE, as MORTGAGOR, under the terms of the chapters II) and III) hereunder, including but not limited to occurrence of the following events:

Examples of Banobras in a sentence

• As the Tribunal has already found, the refusal of Banobras to go further, whether or not it was a breach of contract, was not in itself a breach of Article 1105(1), nor was it converted into such a breach by the federal court decisions.

• It is also true that the City’s breaches (not remedied by Guerrero and remedied only to a limited extent by Banobras) had the effect of depriving Acaverde of “the reasonably-to-be-expected economic benefit” of the project so far as the monthly fees due from the City were concerned.

• In short the Claimant argues that these actions and refusals to acts by the City, Guerrero and Banobras taken together resulted in a “creeping” expropriation of the Claimant’s investment, in breach of Article 1110.124 159.

• Subsequently (but before operations commenced), Banobras made it clear that the terms of the Agreement could not be changed: State Delegate, Banobras to Acaverde, 19 June 1995.

• Over the 27 months of Acaverde’s operations, its invoices to the City totalled more that NP49 million, of which the City itself paid NP2,225,000 and Banobras paid NP4.9 million.

More Definitions of Banobras

Banobras means Xxxxx Xxxxxxxx xx Xxxxx x Xxxxxxxxx Xxxxxxxx, X.X.X., one of the Guarantor’s development banks, established and operating pursuant to the provisions of its Organic Law (as hereinafter defined), and any of its successor or successors thereto;

Banobras means Banco Nacional de Obras y Servicios Publicos,S.N.C., a national development bank wholly-owned by the Guarantor, established by Presidential Decree of February 20, 1933;

Banobras hereby declares that:

Banobras shall provide monthly account statements to the BORROWER, which statements shall contain a description of the withdrawals made, repayment installments, interest accrued and outstanding balance, and the BORROWER shall have a term of twenty days upon receipt thereof to make any observations it may have in connection thereto. In the absence of any such observations, the account statements shall be deemed as accepted by the BORROWER in all of its terms according with the applicable law. SECOND CHAPTER

Banobras means Banco Nacional de Obras y Servicios Públicos, S.N.C., one of the Guarantor’s development banks, established and operating pursuant to the provisions of its Organic Law (as hereinafter defined), and any of its successor or successors thereto;

Banobras shall be released of any and all liability due to the failure of the trustee to exercise its withdrawal rights on the account of the LOAN. For the purposes of the foregoing clause, the parties hereto agree to adhere to the following provisions: Provisions applicable to the TRANCHE “A” [LOAN]:

Banobras shall then open a new withdrawal period, each one of no more than sixty calendar days, provided that the TRANCHE “A” AVAILABLE AMOUNT has not been exhausted in the immediately prior withdrawal period. Withdrawals for new periods may be made for up to the balance between the TRANCHE “A” AVAILABLE AMOUNT and the amount disposed as of the new withdrawal date, which implies, to the extent necessary, that “CEMEX” shall be required to increase the payment source pursuant to the standards set forth in this agreement, by means of contribution of collection rights of FUTURE CONTRACTS into the TRUST, and thus maintaining the ratio of two to one of the payment source, considered individually per AGREEMENT or FUTURE CONTRACTS. The foregoing is not and shall not be deemed as a revolving loan and thus, it is not subject to the revolving criteria provided for in the fifth clause below.