GRDF definition
Examples of GRDF in a sentence
These deviations involve all public and private suppliers relating mainly to dry networks, as follows: • Electrical supply networks: RTE, ENEDIS, local electricity boards (SOREA); • Fibre networks: Fibrea/Covage and Orange; • Phone networks: Orange; • Gas networks: GRT Gas and GRDF.
Concurrently with the First Compact’s expiration, GRDF began a five year wind-down period that will conclude on April 7, 2016, and as part of the conclusion of the First Compact the ownership interest in GRDF was transferred to the Service Agency of the Ministry of Finance of Georgia.
Such exemption applies to any use of MCC Funding or GRDF Funding, and for the avoidance of doubt, to any activities and work performed, and supplies used or purchased, in the implementation of the Compact, by any person or organization (including contractors and grantees) funded by MCC Funding and GRDF Funding as set forth in accordance with Section 2.8 of the Compact.
Prior to its complete wind-down, GRDF may make distributions to the holder of the ownership interest, and at the conclusion of the wind- down will liquidate all of its assets and make a final distribution of the liquidation proceeds to the holder of the ownership interest.
The GRDF will be encouraged to work with other donors’ financial institutions to attract capital and expertise to the SME sector in the Regions, especially to businesses in which such institutions may have been reluctant to invest in the absence of the GRDF in Georgia.
All of the ownership interests in the GRDF are expected to be held initially by a trust (or similar structure acceptable to MCC and MCA-Georgia), the trustee (or similar) of which will be procured through a process acceptable to MCC and will be subject to MCC approval.
The ownership interest transfer, along with modifications to existing GRDF operational documents will be made pursuant to one or more agreements that must be in form and substance satisfactory to the Parties.
The managers of the GRDF and the ADA will meet on a regular basis to discuss potential synergies.
The primary objective of the GRDF will be to maximize developmental impact, as well as to earn a reasonable and positive financial return, from investments in SMEs in agribusiness, tourism and other sectors, primarily outside of Tbilisi.
In the event that MCA-Georgia receives a distribution from GRDF before the New GRDF Operational Documents have been finalized, MCA-Georgia will hold such proceeds in a segregated bank account at a financial institution acceptable to MCC.