Common use of PROJECT IMPLEMENTATION Clause in Contracts

PROJECT IMPLEMENTATION. The Borrower shall implement the Project in accordance with the Agreement. The Borrower has designated the MSTDI as the Project Implementing Entity (PIE), the MPI as the Project Implementing Unit (PIU), and BIO4 as the Project’s beneficiary. MPI is entrusted with specific implementation tasks, including but not limited to procurement, management of consultants, financial management (accounting and payments), reporting, evaluation, monitoring and control. The Project coordination interlocutor from MPI shall organize Project activities among all stakeholders, and report to CEB. The PIE and PIU shall ensure appropriate staff and equipment throughout the Project implementation period, to the satisfaction of CEB. In any event, the Borrower remains solely liable to comply with its obligations under the Agreement. Failure to comply with the undertakings set forth hereby under Clause 5 would constitute, irrespective of any other applicable provision of the Loan Regulations, an event in the terms of Article 3.3 (h) of the Loan Regulations and may give rise to (i) the relevant contract expenditure declared ineligible for Allocation under the Project; and/or (ii) the early reimbursement, suspension or cancellation of the Loan, in whole or in part, under the terms of Articles 3.3 (Early reimbursement of disbursed loans), 3.5 (Suspension by the Bank of undisbursed loans) and 3.6 (Cancellation by the Bank of undisbursed loans) of the Loan Regulations. Duty of Care The Borrower through the PIE and PIU shall apply all care and diligence, and shall exercise all typically used means (including, but not limited to, legal, financial, managerial and technical) required for the proper implementation of the Project.

Appears in 1 contract

Sources: Loan Agreement

PROJECT IMPLEMENTATION. The Borrower shall implement the Project in accordance with the Agreement. The Borrower has designated the MSTDI as the Project Implementing Entity (PIE), the MPI as the Project Implementing Unit (PIU), and BIO4 as the Project’s beneficiary. MPI is entrusted with specific implementation tasks, including but not limited to procurement, management of consultants, financial management (accounting and payments), reporting, evaluation, monitoring and control. The Project coordination interlocutor from MPI shall organize Project activities among all stakeholders, and report to CEB. The PIE and PIU shall ensure appropriate staff and equipment throughout the Project implementation period, to the satisfaction of CEB. In any event, the Borrower remains solely liable to comply with its obligations under the Agreement. Failure to comply with the undertakings set forth hereby under Clause 5 would constitute, irrespective of any other applicable provision of the Loan Regulations, an event in the terms of Article 3.3 (h) of the Loan Regulations and may give rise to (i) the relevant contract expenditure declared ineligible for Allocation under the Project; and/or (ii) the early reimbursement, suspension or cancellation of the Loan, in whole or in part, under the terms of Articles 3.3 (Early reimbursement of disbursed loans), 3.5 (Suspension by the Bank of undisbursed loans) and 3.6 (Cancellation by the Bank of undisbursed loans) of the Loan Regulations. Duty of Care The Borrower through the PIE and PIU shall apply all care and diligence, and shall exercise all typically used means (including, but not limited to, legal, financial, managerial and technical) required for the proper implementation of the Project.,

Appears in 1 contract

Sources: Okvirni Sporazum O Zajmu