OFID definition
Examples of OFID in a sentence
The loan agreements were signed with OFID - OPEC Fund for International Development in September 2014 in the amount of 48.000.000 $ (package A) and 24.000.000 € (package B).
The Project Implementation Unit is obliged to fully follow and respect of all provisions of the Loan Agreements No.1588P and No.1589PB between Bosnia and Herzegovina and OFID - OPEC Fund for International Development as well as all other procedures applied by the OFID, during the construction of Klopče - Donja Gračanica motorway subsection.
The section Donja Gračanica - Drivuša, subsection Klopče - Donja Gračanica has been financed by the loan funds of the OFID - OPEC Fund for International Development.
If at any time OFID receives less than the full amount then due and payable to it under this Agreement, OFID may allocate and apply the amount received in any way or manner and for such purpose or purposes under this Agreement as OFID in its sole discretion determines, notwithstanding any instruction that the Borrower may give to the contrary.
In respect of any reinsurance relating to any Mortgaged Vessel for which there is a legal obligation to place the primary insurance in the local market where the such Mortgaged Vessel operates or in which such Mortgaged Vessel is registered or in which a bareboat charter agreement in respect thereof is registered, such primary insurance shall contain a "cut-through" clause acceptable to OFID if permitted by applicable laws of such place if obtainable from reinsurers on normal commercial terms.
For the avoidance of doubt, (a) OFID shall not be deemed to have waived compliance with any provision of, or covenants under, the OFID Loan Agreement or any other Transaction Document, including with respect to the Current Events of Default and (b) the foregoing reservation of rights does not negate the Forbearance during the term of the Forbearance Period as specifically provided in this Agreement.
This Agreement shall become effective upon execution and delivery of counterpart signature pages to this Agreement by (a) Noteholders holding in the aggregate at least 66 2/3% of the outstanding aggregate principal amount of the Notes, (b) the IFC Lender, (c) the OFID Lender, (d) the Company, (e) Southern Cross and (f) Sparrow.
The votes of the Noteholders, the IFC Lender, the OFID Lender, Sparrow and Southern Cross will not be solicited until the Noteholders, the IFC Lender, the OFID Lender, Sparrow and Southern Cross, as applicable, have received the Solicitation Documents.
The failure to list any existing Event of Default in this Agreement of which OFID had or could have had actual knowledge as of the date hereof, is not intended and shall not be construed to be a waiver thereof or an acquiescence therein.
Promptly provide to OFID such other information as OFID from time to time requests about each Borrower, its assets and the Project.