Законы России
 
Навигация
Популярное в сети
Курсы валют
06.06.2015
USD
56.25
EUR
63.32
CNY
9.07
JPY
0.45
GBP
86.21
TRY
21.05
PLN
15.21
 

ПРОЕКТНОЕ СОГЛАШЕНИЕ МЕЖДУ ЕВРОПЕЙСКИМ БАНКОМ РЕКОНСТРУКЦИИ И РАЗВИТИЯ, РОССИЙСКОЙ ФЕДЕРАЦИЕЙ И КАЛИНИНГРАДСКИМ МУНИЦИПАЛЬНЫМ ПРЕДПРИЯТИЕМ КОММУНАЛЬНОГО ХОЗЯЙСТВА "ВОДОКАНАЛ" (ЗАКЛЮЧЕНО В Г. КАЛИНИНГРАДЕ 04.07.1999)

Текст документа с изменениями и дополнениями по состоянию на ноябрь 2007 года

Обновление

Правовой навигатор на www.LawRussia.ru

<<<< >>>>


                                                  Operation Number 758
   
                           PROJECT AGREEMENT
                (RUSSIAN FEDERATION: KALININGRAD WATER
          AND ENVIRONMENTAL SERVICES REHABILITATION PROJECT)
       BETWEEN EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT
       AND KALININGRAD MUNICIPAL WATER AND WASTE WATER SERVICES
          ENTERPRISE "VODOKANAL" WITH THE RUSSIAN FEDERATION
                   AS A PARTY FOR SPECIFIED PURPOSES
                                   
                       (Kaliningrad, 4.VII.1999)
   
       Agreement dated 4 July 1999 among:
       (1)  the European Bank for Reconstruction and Development  (the
   "Bank");
       (2) the Russian Federation <*> (the "Borrower"); and
   --------------------------------
       <*>  A party for the purposes of Section 5.01(b) of the Project
   Agreement only.
   
       (3)  Kaliningrad  Municipal  Water  and  Waste  Water  Services
   Enterprise "Vodokanal" (the "Project Entity").
   
                               Preamble
   
       (A)  Whereas by a loan agreement dated 4 July 1999 between  the
   Borrower  and the Bank (the "Loan Agreement"), the Bank has  agreed
   to  make available to the Borrower a loan (the "Loan") on the terms
   and  conditions  set  forth  in the Loan  Agreement,  but  only  on
   condition  that  the  Project  Entity  agrees  to  undertake   such
   obligations  toward the Bank and the Borrower as are set  forth  in
   this Project Agreement;
       (B)  Whereas  by  the  Subsidiary Loan  Agreement  between  the
   Borrower,  the  Project  Entity,  the  City  and  the  Region,  the
   proceeds  of the Loan will be made available to the Project  Entity
   for the purposes of carrying out the Project; and
       (C)  Whereas the Project Entity, in consideration of the above,
   has  agreed to undertake the obligations set forth in this  Project
   Agreement.
       Now, therefore, the parties hereby agree as follows:
   
               Article I. STANDARD TERMS AND CONDITIONS;
                         DEFINITIONS; HEADINGS
                                   
                             Section 1.01
                                   
            Incorporation of Standard Terms and Conditions
   
       All  the provisions of the Standard Terms and Conditions  dated
   February  1999 are hereby incorporated into and made applicable  to
   the  Project Agreement with the same force and effect  as  if  they
   were  fully  set  forth herein (said provisions  being  hereinafter
   called the Standard Terms and Conditions).
   
                             Section 1.02
                                   
                              Definitions
   
       Wherever  used  in  the Project Agreement  or  the  Schedule(s)
   hereto,  except  where stated otherwise, the terms defined  in  the
   Preamble  to  the  Project Agreement have the  respective  meanings
   ascribed  therein, and the terms defined in Loan Agreement  and  in
   the  Standard  Terms  and Conditions have the  respective  meanings
   ascribed therein.
   
                             Section 1.03
                                   
                               Headings
   
       The headings of Articles and Sections, as well as the Table  of
   Contents, are inserted for convenience of reference only and  shall
   not be used to interpret the Project Agreement.
   
                 Article II. EXECUTION OF THE PROJECT
                                   
                             Section 2.01
                                   
                          Project Obligations
   
       The  Project  Entity  shall carry out  the  Project.  For  this
   purpose, except as the Bank shall otherwise agree:
       (a)  all  references in Section 4.02 of the Standard Terms  and
   Conditions  to  "the Borrower" shall be read as the Project  Entity
   and  the  responsibilities  set forth  therein  shall  be  applied,
   mutatis mutandis, to the Project Entity;
       (b)  the  Project Entity shall take or cause to  be  taken  all
   additional  action  necessary to provide  adequate  funds  for  the
   completion of the Project.
   
                             Section 2.02
                                   
                       Subsidiary Loan Agreement
   
       The Project Entity shall duly perform all its obligations under
   the  Subsidiary Loan Agreement and any Co-Financing  Agreements  to
   which  the  Project  Entity is a party. Except as  the  Bank  shall
   otherwise  agree, the Project Entity shall not take  or  concur  in
   any  action  that  would  have the effect of amending,  abrogating,
   assigning  or  waiving  the  Subsidiary  Loan  Agreement   or   any
   provisions  thereof,  save  for any amendments  of  a  non-material
   nature of which the Bank has been given prior written notice  (and,
   without  prejudice  to the generality of the foregoing,  amendments
   relating  to  Article III(a)(i) to (iii) of the Loan Agreement  are
   agreed to be material for this purpose).
   
                             Section 2.03
                                   
                              Procurement
   
       For  the  purposes  of Section 4.03 of the Standard  Terms  and
   Conditions,  the  following provisions shall, except  as  the  Bank
   shall  otherwise  agree, govern procurement  of  goods,  works  and
   services  required for the Project and to be financed  out  of  the
   proceeds of the Loan:
       (a) Goods, works and services (excluding consultants' services,
   which  are included within subsection (c) below) shall be  procured
   through open tendering.
       (b)  For purposes of subsection (a), above, the procedures  for
   open  tendering,  are set out in Chapter 3 of the EBRD  Procurement
   Policies and Rules.
       (c)  Consultants to be employed by the Project Entity to assist
   in  the  carrying out the Project shall be selected  in  accordance
   with  the  procedures set out in Chapter 5 of the EBRD  Procurement
   Rules.
       (d) All contracts shall be subject to the review procedures set
   out in Annex 1 to the EBRD Procurement Policies and Rules.
   
                             Section 2.04
                                   
                         Management Contractor
   
       (a)  In  order to assist in the implementation of the  Project,
   the  Project Entity shall, unless otherwise agreed with  the  Bank,
   employ  and  use the Management Contractor to carry out  conceptual
   design  of  the  Project,  the  procurement  of  goods,  works  and
   services  for  the  Project,  and  to  assume  responsibility   for
   contract administration, progress monitoring and cost control.  The
   qualifications,   experience  and  terms  of   reference   of   the
   Management Contractor shall be satisfactory to the Bank and in  the
   Project  Entity's  procurement of the  Management  Contractor,  the
   Project  Entity shall follow the procurement rules of the  relevant
   funding agencies.
       (b)  The Project Entity shall provide, without charge,  to  any
   consultants  engaged to assist in matters relating to  the  Project
   or  the  operations of the Project Entity, including the Management
   Contractor  and  the  Lenders  Agent, all  facilities  and  support
   necessary  for  the  carrying  out of  their  functions,  including
   office  space, telecommunication facilities and transportation,  as
   well  as all documents, materials, and other information as may  be
   relevant to their work.
   
                             Section 2.05
                                   
              Contract Administration and Monitoring Unit
   
       In  order  to monitor performance of the Management  Contractor
   and  administer procurement, the Project Entity shall establish and
   at  all  times during execution of the Project operate  a  Contract
   Administration   and   Monitoring  Unit  ("CAMU")   with   adequate
   resources  and  suitably  qualified  personnel,  under   terms   of
   reference acceptable to the Bank.
   
                             Section 2.06
                                   
           Corporate Development Plan and Corporate Partner
   
       Unless  the  Bank  shall otherwise agree,  the  Project  Entity
   shall:
       (a)  not  later  than 12 months after the date of  the  Project
   Agreement   enter   into  an  agreement  in  form   and   substance
   satisfactory  to  the Bank with a corporate partner  acceptable  to
   the  Bank  and the Borrower, appointing such corporate  partner  to
   assist  the  Project  Entity  in  reviewing  the  Project  Entity's
   activities   and   developing   and  implementing   the   Corporate
   Development Plan;
       (b) not later than 6 months after the date of the effectiveness
   of  the agreement with the Corporate Partner referred to in Section
   2.06(a)  of  the Project Agreement and with the assistance  of  the
   Corporate  Partner,  adopt  and thereafter  implement  a  corporate
   development   plan  which  will  integrate  the   key   development
   activities  necessary for transforming the Project  Entity  into  a
   cost  effective and competitive utility company, which shall be  in
   form  and  substance  satisfactory to  the  Bank  and  which  shall
   include   targets  in  respect  of,  amongst  other   things,   the
   following:
       (i) autonomous: the strengthening of the ability of the Project
   Entity  to  function  as an autonomous and financially  accountable
   legal entity;
       (ii)  budget  control:  the  Project  Entity  to  establish  an
   accounting  and  management  information  system  enabling  it   to
   exercise appropriate budget control;
       (iii)  tariff collection rate: the Project Entity  to  increase
   the  tariff  collection rate in accordance with Section 3.03(e)  of
   the Project Agreement;
       (iv)  cash  collection rate: the Project Entity to ensure  that
   the  cash collection rate is in accordance with Section 3.03(f)  of
   the Project Agreement;
       (v)  account receivables: the Project Entity to reduce  account
   receivables;
       (vi) efficiency: the Project Entity to improve operational  and
   financial efficiency; and
       (vii)  tariffs - general: the Project Entity to work  with  the
   City  and  the  Region as necessary to ensure a tariff  system  for
   water and waste water services based on the principle of full  cost
   recovery  for all consumer categories is in place by the  start  of
   the  year  2003 as provided in the Presidential Decree  on  Russian
   Housing Reform (No. 425 of 28 April 1997).
   
                             Section 2.07
                                   
                        Environmental Covenants
   
       Without   limiting   the   generality  of   Sections   4.02(a),
   4.04(a)(iii),   and   5.02(c)(iii)  of  the  Standard   Terms   and
   Conditions, the Project Entity shall:
       (a)  Environment - general: carry out the Project in accordance
   with  the  environmental regulations and standards in  effect  from
   time to time in the jurisdiction in which the Project is located;
       (b)  Environment - first year: develop within the period of one
   year  from  the  signing of the Project Agreement, a  programme  to
   achieve   compliance  with  Russian,  HELCOM  and  European   Union
   environmental standards, with details and timeframe  to  be  agreed
   with  the  Bank,  and implement such programme in  accordance  with
   such timeframe; and
       (c)  Sludge  Disposal:  develop  and  agree  with  the  Bank  a
   programme to address the issue of sludge disposal.
   
                             Section 2.08
                                   
            Reporting Frequency and Submission Requirements
   
       (a)  Annual environmental report: As soon as available but,  in
   any  event,  within 60 days after the end of each FY,  the  Project
   Entity  shall  furnish  to the Bank a report,  in  form  and  scope
   satisfactory  to  the  Bank, on environmental,  health  and  safety
   issues  arising  in  relation  to  the  Project  during  such   FY,
   including:
       (i)  the status of compliance with the Environmental Standards,
   including  an  update on permit status and any  incidents  of  non-
   compliance,  fines,  results of inspection  reports,  and  remedial
   action relating thereto;
       (ii) copies of significant information on environmental matters
   submitted  by  the  Project Entity to the environmental  regulatory
   authorities; and
       (iii)  a  summary  of the health and safety records,  including
   accident  rate and any related initiatives implemented  or  planned
   during the reporting period.
       (b)  Incident reporting: Immediately upon the occurrence of any
   incident  or  accident,  relating to  the  Project  Entity  or  the
   Project,  likely  to  have  a  material  adverse  effect   on   the
   environment,  health or safety, the Project Entity shall  give  the
   Bank  notice thereof by facsimile transmission or telex  specifying
   the  nature of such incident or accident and any steps the  Project
   Entity  is  taking  to  remedy  the  same.  Without  limiting   the
   generality of the foregoing, an incident or accident is  likely  to
   have  a  material  adverse  effect on the  environment,  health  or
   safety if:
       (i)  any  applicable law requires notification of such incident
   or accident to any governmental authority;
       (ii)  such  incident or accident involves fatality or  multiple
   serious injuries requiring hospitalisation; or
       (iii)   has  become  public  knowledge  whether  through  media
   coverage or otherwise.
       (c) Quarterly reports: The periodic Project reports referred to
   in  Section 4.04(a)(iv) of the Standard Terms and Conditions  shall
   be  submitted by the Project Entity quarterly, within  thirty  (30)
   days  after  the  end of the period being reported  on,  until  the
   Project  has  been  completed.  Such  reports  shall  include   the
   following specific features:
       (i) the following general information:
           (1)  the   physical    progress    accomplished   in   the
       implementation of the Project to the date of report and during
       the reporting period;
           (2) actual  or  expected  difficulties  or  delays  in the
       implementation  of  the  Project  and  their  effect  on   the
       implementation schedule, and the actual steps taken or planned
       to overcome the difficulties and avoid delays;
           (3) expected  changes  in  the  completion  date  of   the
       Project;
           (4) key  personnel  changes  in  the staff  of the Project
       Entity, the CAMU and the Manager Contractor;
           (5) matters that may affect the Project cost; and
           (6) any  development  or  activity  likely  to  affect the
       economic viability of any part of the Project;
       (ii)  financial statements showing details of the  expenditures
   incurred under each part of the Project and the drawdowns from  the
   Loan, together with a statement showing:
           (1) original cost estimates;
           (2) revised  cost  estimates,  if  any,  with  reasons for
       changes;
           (3) original estimated expenditures to date;
           (4) reasons  for  variations  of  (3)  above  from  actual
       expenditures; and
           (5) estimated  expenditure  for  remaining quarters of the
       year;
       (iii)  a brief statement of the status of compliance with  each
   of the covenants of the Project Agreement.
       (d)  Semi-annual reports: the Project Entity shall submit semi-
   annual  reports  on  implementation of  the  Corporate  Development
   Plan. Such reports shall be submitted within 30 days after the  end
   of  the  6  month  period  being  reported  on  and  shall  include
   information  on  the  targets listed at (i)  to  (vii)  of  Section
   2.06(b) of the Project Agreement.
   
           Article III. FINANCIAL AND OPERATIONAL COVENANTS
                                   
                             Section 3.01
                                   
                     Financial Records and Reports
   
       (a)  The Project Entity shall maintain procedures, records  and
   accounts  adequate  to  reflect in accordance with  internationally
   accepted   accounting  standards  the  operations   and   financial
   condition of the Project Entity and its subsidiaries, if  any,  and
   adequate  to  monitor  and  record  the  progress  of  the  Project
   (including its costs and the benefits to be derived from it).
       (b) The Project Entity shall:
       (i)   have  its  records,  accounts  and  financial  statements
   (balance  sheets,  statements of income and  expenses  and  related
   statements),  and  the  records, and financial  statements  of  its
   subsidiaries:
           (A) for each FY until and including the FY  in  which  the
       Effective  Date  falls,  the Project Entity  shall ensure that
       independent  auditors  acceptable  to  the  Bank  review   all
       relevant  records,  accounts and financial statements in order
       to  give  documentary  evidence,   in   form   and   substance
       satisfactory to the Bank, as to whether there are, or are not,
       arrears  in  excess  of  60  days  on the balance sheet of the
       Project Entity; and
           (В) for  each  FY  thereafter,  audited in accordance with
       internationally  accepted  auditing  principles  and standards
       consistently  applied,  by  independent auditors acceptable to
       the Bank;
       (ii)  furnish to the Bank as soon as available, but in any case
   not  later  than six months after the end of each fiscal year,  (A)
   certified  copies of its financial statements for such fiscal  year
   as  so  audited, and (B) the report of such audit by said  auditors
   of  such scope and in such detail as the Bank shall have reasonably
   requested,  and  (C)  a  statement of  all  financial  transactions
   between  the  Project  Entity  and each  of  its  subsidiaries  and
   affiliates; and
       (iii)  furnish  to  the Bank such other information  concerning
   such  records,  accounts and financial statements as  well  as  the
   audit  thereof,  as  the Bank shall from time  to  time  reasonably
   request.
   
                             Section 3.02
                                   
                     Negative Financial Covenants
   
       (a)  The  Project Entity shall not, except as the Bank and  the
   Borrower  shall  otherwise agree, take any  one  of  the  following
   actions,  other than in the ordinary course of business, and  shall
   provide to the Bank all such information thereon as the Bank  shall
   reasonably request:
       (i) enter into any agreement or arrangement to guarantee or  in
   any  way or under any condition to become obligated for all or  any
   part  of  any  financial  or other obligation  of  another  person,
   including any subsidiary or affiliate;
       (ii)  enter into any transaction with any person except in  the
   ordinary course of business, on ordinary commercial terms,  and  on
   the  basis of arm's length arrangements, or establish any sole  and
   exclusive   purchasing  or  sales  agency,  or   enter   into   any
   transaction  whereby the Project Entity might  pay  more  than  the
   ordinary  commercial price for any purchase or might  receive  less
   than  the  full ex-works commercial price (subject to normal  trade
   discounts) for its products;
       (iii)  enter  into any partnership, profit-sharing  or  royalty
   agreement,  or  similar arrangement whereby  the  Project  Entity's
   income or profits are, or might be, shared with any other person;
       (iv)  sell, transfer, lease, or otherwise dispose of all  or  a
   substantial part of its assets (whether in a single transaction  or
   in  a  series of transactions, related or otherwise) save  for  any
   disposal  of  assets which are not essential or desirable  for  the
   smooth operation of the primary business of the Project Entity  and
   which in aggregate do not exceed US dollar 500,000; or
       (v)   undertake   or  permit  any  merger,  consolidation,   or
   reorganisation (save for any internal reorganisation that  improves
   efficiency and/or financial condition).
       (b) The Project Entity shall not, unless it shall have informed
   the  Bank at least thirty (30) days in advance, take any one of the
   following  actions other than in the ordinary course  of  business,
   and  shall provide to the Bank all such information thereon as they
   shall reasonably request:
       (i)  enter  into any management contract or similar arrangement
   whereby  its  business  or  operations are  managed  by  any  other
   person, including any-subsidiary or affiliate; or
       (ii)  form any subsidiary, or make or permit to exist loans  or
   advances to, or deposits (except deposits with commercial banks  in
   the  ordinary course of business) with other persons or investments
   in  any  person,  including any subsidiary or affiliate;  provided,
   however,  that  the Project Entity may invest in  investment  grade
   short-term  marketable securities acquired solely to  make  use  of
   its unutilised resources.
   
                             Section 3.03
                                   
                       Other Financial Covenants
   
       Without  limiting the generality of Section 3.02 of the Project
   Agreement, the Project Entity shall:
       (a) generate funds: generate sufficient funds to cover:
       (i) the Project Entity operating and maintenance costs;
       (ii) the Project Entity's debt requirements; and
       (iii)   after   the   Last  Availability  Date,   the   capital
   expenditures necessary to maintain and improve the level  of  water
   and  waste water services in Kaliningrad, taking into account funds
   provided by the City and the Region.
       (b)  Debt  Service Coverage Ratio: from the beginning  of  year
   2002  onwards  maintain a Debt Service Coverage Ratio  of  no  less
   than  1.2,  Debt  Service Coverage Ratio being Free Cash  Flow/Debt
   Service <*>.
   --------------------------------
       <*>  Free  cash flow is defined as annual EBDIT [Earnings  plus
   depreciation,  +/-  non-cash expense/amortisation]  plus/minus  the
   change  in  working  capital minus agreed on  capital  expenditure:
   divided  bv  (ii)  annual  debt  service  [interest  paid  plus  on
   amortisation of principal on all debt].
   
       (c)  Debt Service Reserve Account: establish and maintain until
   the  Loan is fully repaid a debt service reserve account at a  bank
   acceptable to the Bank and the Borrower and:
       (i)  from the date 6 months before the first repayment date  in
   respect  of  the  Loan  pursuant to Section  2.02(d)  of  the  Loan
   Agreement,  each month on or before the 15th day of the  month  pay
   into  the  Debt Service Reserve Account an amount which corresponds
   to  on  sixth (1/6) of the debt service to the Borrower  under  the
   Subsidiary  Loan Agreement due on the next Interest  Payment  Date,
   unless otherwise authorised by the Bank and the Borrower; and
       (ii)  use  the sums on the account only for debt service  under
   the  Subsidiary Loan Agreement, unless otherwise authorised by  the
   Bank and the Borrower; and
       (d)  current liabilities: discharge its current liabilities  as
   and when due or within 60 days of them falling due.
       (e) tariff collection rate: Unless the Bank has given its prior
   written  consent otherwise, the Project Entity shall  increase  the
   average  monthly tariff collection rate over a FY to not less  than
   70  percent by the end of the 2000 FY, not less than 73 percent  by
   the  end of the 2001 FY, not less than 75 percent by the end of the
   2002  FY, and not less than 80 percent by the end of any subsequent
   FY;
       (f)  cash collection rate: Unless the Bank has given its  prior
   written  consent  otherwise, the Project Entity shall  ensure  that
   the  average  monthly cash collection rate over a FY  is  not  less
   than  45  percent  by  the end of the 2000 FY,  not  less  than  50
   percent by the end of the 2001 FY, not less than 55 percent by  the
   end of the 2002 FY and not less than 60 percent thereafter;
       (g)  tariffs  -  general: Unless the Bank has given  its  prior
   written  consent otherwise, the Project Entity shall work with  the
   City  and  the  Region as necessary to ensure a tariff  system  for
   water and waste water services based on the principle of full  cost
   recovery  for all consumer categories is in place by the year  2003
   as  provided  in the Presidential Decree on Russian Housing  Reform
   (No 425 of 28 April 1997).
   
                             Section 3.04
                                   
                            Negative Pledge
   
       The  Project Entity undertakes that, except as the  Bank  shall
   otherwise agree:
       (a) if the Project Entity creates any lien on any of its assets
   as  security  for  any  debt, such lien will equally  and  rateably
   secure  the  payment of the principal amount of, and  interest  and
   other  charges on, the Subsidiary Loan, and in the creation of  any
   such  lien  express provision will be made to that  effect,  at  no
   cost to the Bank; and
       (b)  if  any  statutory lien is created on any  assets  of  the
   Project  Entity as security for any debt, the Project Entity  shall
   grant  at  no  cost to the Bank an equivalent lien satisfactory  to
   the  Bank  to  secure the payment of the principal amount  of,  and
   interest and other charges on, the Subsidiary Loan;
       (c) the foregoing undertakings shall not apply to:
       (i)  any  lien  created on property, at the  time  of  purchase
   thereof,  solely as security for the payment of the purchase  price
   of  that  property or as security for the payment of debt  incurred
   for the purpose of financing the purchase of such property; and
       (ii)  any  lien  arising  in  the ordinary  course  of  banking
   transactions  and securing a debt maturing not more than  one  year
   after its date.
   
                             Section 3.05
                                   
                  Conduct of Business and Operations
   
       The  Project  Entity shall, except as the Bank shall  otherwise
   agree,
       (a)  conduct its business and operations (i) in accordance with
   sound  administrative, financial, engineering, and  other  relevant
   standards  and  practices, (ii) with due regard to  ecological  and
   environmental  factors,  and  (iii) with  due  regard  to  all  its
   principal operating policies;
       (b)  promptly take all action within its powers to maintain its
   legal  existence,  to  carry  on its operations,  and  to  acquire,
   maintain,  and  renew  all rights, properties, powers,  privileges,
   and  franchises that are necessary for the conduct of its business,
   including the carrying out of the Project;
       (c) promptly notify the Bank of any proposal to amend, suspend,
   or  repeal any provision of its Statutes and shall afford the  Bank
   an  adequate  opportunity  to comment on  such  proposal  prior  to
   taking any action thereon;
       (d)  take out and maintain with responsible insurers,  or  make
   other  provisions satisfactory to the Bank in respect of, insurance
   of  its property against such risks and in such amounts as shall be
   consistent with appropriate practice in the Russian Federation;
       (e)  at  all  times operate and maintain its plant, facilities,
   equipment,  and other property in good working order  and  promptly
   as  needed, make all necessary repairs and renewals thereof, all in
   accordance with sound business and financial practice;
       (f)  enter into a service agreement with the City on or  before
   the  date  6  months after the effectiveness of the agreement  with
   the  Corporate  Partner  referred to  in  Section  2.06(a)  of  the
   Project Agreement and take full operational responsibility for  the
   water  supply  and waste water services in the Kaliningrad  service
   area under such agreement;
       (g)  implement the Project essentially as described in Schedule
   1 to the Loan Agreement; and
       (h)  ensure  that the key management positions in  the  Project
   Entity  are  at  all times staffed by appropriately  qualified  and
   experienced individuals.
   
               Article IV. EFFECTIVE DATE; TERMINATION;
                      CANCELLATION AND SUSPENSION
                                   
                             Section 4.01
                                   
                            Effective Date
   
       The  Project Agreement shall come into force and effect on  the
   date upon which the Loan Agreement becomes effective.
   
                             Section 4.02
                                   
                              Termination
   
       The  Project  Agreement and all obligations of  the  Bank,  the
   Borrower  and the Project Entity hereunder shall terminate  on  the
   date  on  which  the Loan Agreement shall terminate  in  accordance
   with  its  terms,  and the Bank shall promptly notify  the  Project
   Entity and the Borrower thereof.
   
                             Section 4.03
                                   
                       Cancellation; Suspension
   
       All  the  provisions of this Agreement shall continue  in  full
   force  and  effect notwithstanding any cancellation  or  suspension
   under Article IV of the Loan Agreement.
   
                       Article V. MISCELLANEOUS
                                   
                             Section 5.01
                                   
                                Notices
   
       (a)  The following addresses are specified for the purposes  of
   Section 10.01 of the Standard Terms and Conditions:
   
       For the Project Entity:
       Kaliningrad Municipal Water and Waste Water Services Enterprise
   "Vodokanal"
       Attention: The Director General of the Project Entity
       Komsomolskaya Street 12
       Kaliningrad, 136000
       Russian Federation
       Telephone: 007 0112 21 47 94
       Telefax:   007 0112 21 92 18
   
       For the Bank:
       European Bank for Reconstruction and Development
       Attention: Operation Administration Unit
       One Exchange Square
       London EC2A 2JN
       England
       Telephone: (44-71) 338 6000
       Telefax:   (44-71) 338 6100
       Telex:     881 2161
   
       (b)  The Bank and the Project Entity agree that each notice  or
   request  that  they send to each other in accordance  with  Section
   10.01  of the Standard Terms and Conditions shall be copied to  the
   Borrower   at  the  Borrower's  address  specified  in   the   Loan
   Agreement,  or  at  any other address as the  Borrower  shall  have
   specified  in writing to the party giving the notice or making  the
   request.  Except  as  otherwise provided in the  EBRD  Disbursement
   Handbook  (for  Drawdown  applications and related  matters),  such
   delivery   may   be  made  by  hand,  mail,  telex   or   facsimile
   transmission.  Deliveries made by telex or  facsimile  transmission
   shall also be confirmed by mail.
   
       In  witness  whereof the parties hereto, acting  through  their
   duly authorised representatives, have caused the Loan Agreement  to
   be  signed in six copies and delivered at London, England as of the
   day and year first above written.
   
                                               (Follow the signatures)
   
   

Списки

Право 2010


Новости партнеров
Счетчики
 
Популярное в сети
Реклама
Курсы валют
06.06.2015
USD
56.25
EUR
63.32
CNY
9.07
JPY
0.45
GBP
86.21
TRY
21.05
PLN
15.21
Разное