FNRR definition

FNRR means the Borrower’s Fund for National and Regional Roads, established pursuant to the FNRR’s Legislation (hereinafter defined) on May 16, 1997, and includes any successor thereto.
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FNRR each means the Fund for National and Regional Roads established as a public entity on June 6, 1996 pursuant to the Borrower’s Law for Public Roads;
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Examples of FNRR in a sentence

  • The Borrower, through the FNRR, shall monitor and evaluate the progress of the Project and prepare Project Reports in accordance with the provisions of Section 5.08 of the General Conditions and on the basis of indicators agreed with the Bank.

  • The Borrower shall, not later than January 1, 2010, convert the positions of five consultants charged with Project implementation within the FNRR into regular staff positions, and shall, thereafter, maintain and adequately fund these regular staff positions.

  • FNRR shall duly perform all its obligations under the FNRR Subsidiary Loan Agreement.

  • FNRR shall carry on its operations and conduct its affairs in accordance with sound administrative, financial, engineering, technical and environmental practices under the supervision of qualified and experienced management assisted by competent staff in adequate numbers.

  • This Agreement and all obligations of the Bank and of FNRR thereunder shall terminate on the date on which the Loan Agreement shall terminate in accordance with its terms, and the Bank shall promptly notify FNRR thereof.

  • FNRR shall carry out the obligations set forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of this Agreement and Parts A, B, C and D of the Project.

  • By June 30, 1999, FNRR shall appoint auditors, satisfactory to the Bank, for the purpose of carrying out the audits required under the Project.

  • The Additional Event of Suspension consists of the following: namely that the FNRR’s Legislation has been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely the ability of the FNRR to perform any of its obligations under this Agreement.

  • Except as the Bank shall otherwise agree, FNRR shall not take or concur in any action which would have the effect of amending, abrogating, assigning or waiving the FNRR Subsidiary Loan Agreement or any provision thereof.

  • The Borrower, through the FNRR, shall maintain a financial management system in accordance with the provisions of Section 5.09 of the General Conditions.

Related to FNRR

  • DPWH means the Department of Public Works and Highways of the Government of the Philippines.

  • QFII means a qualified foreign institutional investor approved pursuant to the relevant PRC regulations (as amended from time to time).

  • Holding Company Transaction means the occurrence of (a) any transaction (including, without limitation, any acquisition, merger or consolidation) the result of which is that a “person” or “group” within the meaning of Section 13(d) of the Securities Exchange Act of 1934, as amended, (i) becomes the direct or indirect ultimate “beneficial owner,” as defined in Rule 13d-3 under that Act, of common equity of the Issuer representing more than 50% of the voting power of the outstanding Common Stock or (ii) is otherwise required to consolidate the Issuer for purposes of generally accepted accounting principles in the United States, or (b) any consolidation or merger of the Issuer or similar transaction or any sale, lease or other transfer in one transaction or a series of related transactions of all or substantially all of the consolidated assets of the Issuer and its subsidiaries, taken as a whole, to any Person other than one of the Issuer’s subsidiaries; provided that, in the case of either clause (a) or (b), the Issuer or the Acquiror is or becomes a Bank Holding Company or Savings and Loan Holding Company.

  • Constellation has the meaning assigned to that term in the Recitals.

  • Native Hawaiian means any individual who is a descendant of the aboriginal people who, prior to 1778, occupied and exercised sovereignty in the area that now constitutes the State of Hawaii.