Common use of Last Tranche Clause in Contracts

Last Tranche. The disbursement of the last Tranche, is subject to the following additional conditions that the Bank has received, in form and substance satisfactory to it, on or before the date falling 5 (five) Business Days before the Scheduled Disbursement Date for the last Tranche, of the following documents or evidence: (a) that an amount equal to at least 90% (ninety per cent.) of the aggregate amount of all previous Tranches disbursed to the Borrower under this Contract, has been allocated to eligible schemes. For the remaining 10% (ten per cent), the Promoter has to provide a letter with the list of schemes expected to be allocated under this amount. The Promoter shall supply details of all remaining schemes that are intended to be part of the EIB operation such that the total investment cost of all schemes is at least twice the amount of the EIB loan; and (b) a detailed Operation & Maintenance Plan for inland waterway infrastructure located along the Serbian TEN-T Rhine-Danube Inland Waterway Corridor as described in the Technical Description (Schedule A).