„საქართველოსა და აზიის განვითარების ბანკს შორის სესხის ხელშეკრულების (ჩვეულებრივი ოპერაციები) მდგრადი ურბანული ტრანსპორტის განვითარების საინვესტიციო პროგრამა-პროექტიII)
📦 საკანონმდებლო პაკეტი
„საქართველოსა და აზიის განვითარების ბანკს შორის სესხის ხელშეკრულების (ჩვეულებრივი ოპერაციები) მდგრადი ურბანული ტრანსპორტის განვითარების საინვესტიციო პროგრამა-პროექტიII)
- „საქართველოსა და აზიის განვითარების ბანკს შორის სესხის ხელშეკრულების (ჩვეულებრივი ოპერაციები) მდგრადი ურბანული ტრანსპორტის განვითარების საინვესტიციო პროგრამა-პროექტიII) (ეს პროექტი) ხელშეკრულება
- „საქართველოსა და აზიის განვითარების ბანკს შორის სესხის ხელშეკრულების (განსაკუთრებული ოპერაციები) (მდგრადი ურბანული ტრანსპორტის განვითარების საინვესტიციო პროგრამა-პროექტიII) ხელშეკრულება
📋 განხილვის ეტაპები
ინიციირებული ვარიანტი
სხდომაზე განსახილველი პროექტი
✓ 82 ✗ 0
საქართველოს პარლამენტის დადგენილება
📅 დამატებითი ინფორმაცია
ბიუროზე განხილვის თარიღი 2012-07-25
📜 ტექსტი
ხელშეკრულება
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ხელშეკრულება
/llA53
ν け /F―
LOAN NUMBER 287,GE0
LOAN ACREEMENT
(0同 inary Operal ons)
(SuStainable urban TranspOn nveslment P嘲 ram̲Prolect 2)
V
GEORGIA
and
AS,AN DEVELOPMENT BANK
DATED 24」 ULY 2012
GE0 42414
LOAN AGREEi[ENT
(Ordlnary Oper.!ons)
LOAN AGREEMENT det6d 24 July 2012 berwo€n GEORGTA (.Borro,a/€/) and
ASIAN OEVELOPMENT BANK ("AD8').
WHEREAS
(A)
by a framework financing agrsemenl datod 21 June 2OlO between tho
Borrowsr and AOB ('FFA"). ADB has agreed to provde a mulifanche financinq facititv lo h6
Borrow€r for purposes of finanong projects und€r the Suslatnabte Urb;n T;nspon
lnvsstm6nt Program ('lnv€stm6nt Prcg16m');
(B)
by a periodic financing request datod 16 March 2012 (.,pFR") and as
am€ndod by tho Borow6r th.ough th€ minutes ot th6 toan nogotiations lor th6 projBcl dated
23 July 2012, the Borower has apptied to AOB for: (i) a toan from ADB,S ordinary capital
rosourcas; and (il) a loan from ADB'S Spocial Fund6 resourc€s, for the purposea of th6
Project describod in Schedule 1 to the Sp€cial Op€rations Loan Agreement (refsr6d to in
R€cital (C) below);
(C) by a loan a9r6€ment betw€sn the Bonow€r and ADB (,Speclal
Operatlons Loan Aorsement"), A0B ha6 agr€od to meko to the Borrow€r a toan from ADB,S
Special Funds resourcos in various currenclos equivalent lo ten milljon six hundred lhirtynine thousand Spocial Orawing Rights lSDR10,639,000) for lh6 purposes of tho poect;
(D)
thg Project will be carrlod out by the t unicipel Dsvetopment Fund of
Goorgla eslablishod und6r Presidential Decree datod 7 Juno 1997 ('MDF'). and for thts
purpogo the Eorower will mek6 available lo MOF the procogds oI th€ loan provided for
h€rein upon t€rms and conditions satisfactory to ADBj and
(E) ADB has agreod to make a loan to th6 Borrower from A08,6 ordlnary
capital resources upon th€ torms and conditions s€t forth hgroln and ln the Projoct
AgrEem6nl betwo6n ADB and MoF;
NOW THEREFORE tho parties horeto agree as follows:
ARTICLE I
Loan R.gulatlona; lHnltion!
Sectlon 1 01
AJI lhe paovisions of the Ordinary Operatlons Lo6n
Regulations Applicable to LIBOR-8ased Loans Made from AO8's Ordinary Capitat
Ro8ources, dated 1 July 2001 ("Loan Regulations'), are h€r6by mado applicabls lo this Lo6n
Agreemont wilh th€ sama lorc€ and offsct as il they w€re fully sot forth h€rein, subjoct,
ho*€ver, to the following modifications:
(a)
S€ction 2.0 1 (50) ls deloted 6nd the following is su bstituted thereforl
2
"Projecl Agreem6nf means thg Project Agroement botween A0B and
MDF.
(b)
The t6rm'Proj€ct Executing Agency" app€sring in S6ction 7.04(b),
9.01(d), 9.010), 9.01(k), 10.01(c) end 10.02(c) or the Losn R6gulatlon3
shall b€ substitutod by th6 t6m'MDF".
(C)
Soction 3.03 ls dolet€d and th€ following is substituled lhersfor:
Commllment Cha.ge; Credlt; aturlly Pr.mium.
Tho Borrower shall pay a commltmont charg6 on tho
lrnwithd.awn amounl of lhe Loan al th€ rat€ and on lh9 tems
(a)
specifiod in tho Loen Agr€emeni.
(b) AOB shall provldo lo the Bonowgr a credit at
the ratg sp€dfled in the Loan Agresm€nt, whicn crsdit shall
rsmaln fixed for ths term of tho Loan. ADB shall apply th€
crodit against lha int6r6st payable by the Borrower.
(c)
Th€ Eorrowsr shall pay a matunty premium at
the rata sp€ciflod in th€ Loan Agre€msnt, which matuity
premium shall remain fixed for the term of ths Loan. ADB
shall add th€ matudty premium to the intorost payable by the
Borower.
V
(d)
Soction 3.06 is deletod and ths followjng is substituted lh6r€for:
Rcbata. (a)
Following any announcomenl by
ADB thal th6 Fixsd Spread applicable to new Loans 6hall be
r6duc€d, ADB shall provlde a Rebato lo any Borrower wlth an
outstandlng Loan on whiah a h(lher Fixed Spread is
appllc€ble. The amount of th€ Rebate ghall be dotormined by
multiplying (i) lhe dlfference botween the Fix6d Spread
agplicablo to th€ outstanding Loan and lhe Fix6d Sprsad lhat
will be apptied to nerv Loans (gxpressod as a p€rcontags per
annum), by (ii)the princlpal amount of tho outstandlng Loan on
whicft th€ Borow€r shall pay lnterest for all intersst p€rlods
commencing on snd afrer tho efiecliv6 dat6 of the lowor Fixod
Spread that wlll b6 appli6d to new Loans.
(b)
Following ,ny announcemenl by A0B that ils
Funding Cost Margin calcuiatlons with respeqt to any Loan
Curoncy (or Approved Cunency) in any Sem6ster resulted in
ADB achl€ving savings, ADB shall provide a Rebate to ths
Borow6r. The amounl of th€ Rsbate 6hall be del€rmlnod by
multiplying (i) th€ Funding Cosl Msrgin (expressed as a
p6rcsntrge p€r annum) by (ii) th6 pnncipal amount of th€ Loan
on which the Borrow€r shall pay interest for th€ lnter€st P€dod
comm6ncing immediately after tho Semest€r for whach tho
Funding Cost Margin was calculated. ADB 6hall apply th€
amount of the Rebato against the int€r€st payablo by tho
3
Bofiowor for the lnt€rost pedod commBncing immediately afr€r
the Semester for whlch the Fundlng Cost Margln was
calculatod.
(e)
Seclion 3.07 ls deloted and the lolowing is substituted therefor:
(a)
Surcherg..
Following any announcem6nt by
ADB ihat tho Fix6d Spread app cable to new Loans shafl be
incrsasod, any Bonower with an outstandtng Loan on which a
lower Fixed Spread is app cable shall pay A0B a Surchargo.
Th6 amount ol th6 SurthaBg shall bo d€termined by
multiplying (t) th8 diff6r.n6 b6tw6en tho Flxed Sprosd thsl wil
be applied io new Loans and the Fixed Sproad appticabte to
the oulstandlng Loan (qxprgssed aa a p€rc€ntags psr annum),
by (li) the prlnctpal amount of th€ outslanding Loan on which
lh6 Eonower shall pay interest for
intsrsst poriods
commoncing on and aft6r ihe sffeciive dat6 of th€ higher Fixed
Spraed that will bo appliod to new Loans.
a
(b)
Following any announ@m€nt by AOB that its
Fundlng Cost Ma€in calculatlons with respoct to any Loan
Curency (or Approved Cur6ncy) in any Semgster resulied in
ADB incuning addition€t cosls, the Bofiower sha p8y A0B a
Surcharg6. Th6 amount of th6 Surcharge shall be detemined
by multlplylno (i) th€ Funding Cost Margin (expross€d as a
v
percentage p€r annum) by (ii) the principal amount of the Loan
on which the Bonow€r shell pay inl€rest for tho Interost Poriod
commoncing immodiatoly afler the S6mester tor which tho
Fundlng Cost Margin was calculated. ADB shall add the
amount of tho Surcharge to the intoGst payable by th6
Bonowsr for the lntel€sl P6rlod commencing immediately afler
tho Sorn68l6r for whlch th6 Funding Cost Margin was
calc!lat6d.
Seclon 1 02
Wl€revsr us€d in this Loan Agreement, the Beveral
toms dofinsd in tho Loen Rogulatl s and in the Spocial Opsrations Loan Agre€ment havs
th6 rosp€c-tlvo meanings th€rain s6t forth unlgss modm€d hereln or th€ context olhe be
rcquh€s.
V
4
ARTICLE ll
Th● LOan
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鰤辮濡出 滉
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hЮ ugh a Curoncy Conversion in accordance
wth thO prclVIslons or Sec1 0n 2 06 ofthis LOan Agreomont
p● nOd as donn!ぜ
hsttζ
(C)
Rlld repaymenl perod of23yearヽ
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:figl♀ 憎
and a grace
:腎
「OInabove moans
ThO tem・ grace polod・ as used in subseclon(b)い 。
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Seclon 2 02
The BOrrc wOr shal pay to ADB intoreSt On the plncipal
amount Oflhe LOan Withdrawn and oulStanding frOm tim● tO time at a rate for eaCh lnlorest
Polod oqu81tO the Sum Ofi
(a)
LIBoR:
0 :』 :静 品:溜
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"a
ided by Seclion 3 03 of the Loan RogulationsI
(C) a matulty premium of 0 20%aS prcvided by SeCton 3 03 oflhe Loan
RoOulalons
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鵠濾 Ff胤 1:]鷺 itth驚胤 o days after the date or thls Loan Agreoment
lnterest and oth€r charges on the Loan shall bo payable
SectOn 2 04
in 6ach y€ar'
15
July
and
semiannually on 15 January
2.o5
Tho Bonow€r shall ropay the principal amount of lh€
prov'sions of Schodulo 't to
Loan whOrawn irom tfre Loan Accouni in 6@ordanc€ with the
Soction
thjs Loan Agreemeni.
(a)
The Bofower may at any ttme request any of
Section 2.06.
prudenl d€bt
ths followlng Conv€Gions of lhs lerms of lh6 Loan ,n order lo facilltate
manag€ment:
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5
outstandlng from a Floatlng Rat€ to a Fixed Rat6 or vice v6n€;
and
(iiD the se$ng of limits on lh6 Floating Rate applicablo to all or any
portion of the pdndpal amount of the Loan wilhdEMl and
outstandlng by th€ establishm€nt of an lnterest RatE Cep or
lnteresl Rato Collar on said Floating Rate
(b)
Any conv6rslon roqt/ested purcuanl to subsBction (a) h€relnabove that
is aca€ptod by ADB shall be considerod a 'Conv6tslon', as dolln€d in Sgciion 2.01(6) of lhe
Loan Regulations, and shall b€ ofieclsd in accordance with the prcvisions of Ailcl€ v of the
Loan Rogulatlons and lhe Conversion Guldelines.
ARTICLE III
Usa ot Proc€adt ot iho Loan
S6c'tlon
3.01.
The BoroYEr shall make the Proceeds of th€ Loan
avallablo to MDF upon tetms and cohdluons satlstactory to AOB and shall causo MDF to
6pply such procssds to tha fnancing ol exp€nditurss on thg Project in accordanc€ with tho
provblons of lhlg Loan A0r6€m€nt and the Proioc't Agr6oment.
Section 3 02
Ths proc€€ds of lho Loan shall be allocated and
withdrawn in sccordance wlth th€ provialons of Sch6dule 2 to this Loan Agraement, as such
Sch€dulo may be am€nded from time to time by agloement betw€€n the Borrow€r and A0B'
3.03.
Ercept as AOB may otherwiso agro€, th€ Bonow€r
S6ction
6hall procuae, or csuse to bo procured, th€ ltems of expsnditure to b€ financod out of th6
omceeds ol lho Loan in accordance wlth lhe provisions of Scheduls 4 to tho Spscial
bpeotions Losn Agreem€nt. ADB rnay refus€ to financ€ a contracl whsro any such itom
h;9 not been proc-ured undsr proc6durgs substantially ln accordance with those agre6d
betwe€n the go[ower and ADB or whore the tgrms and conditions of tha cont6ct ar€ not
Batl8laclory to AOB.
3.04.
Excopt as ADB lnay otherwis€ agr€g, lhe Borowor
shall cause 9ll items of oxpenditurE linanced out of the procoeds of lhe Loan to bo usod
oxclusivoly in the carrying out of lh€ Proiect.
Seclion
Th€ Loan Clo8ing Dat6lor the purposes ol Section 9.02
Secton 3 05
of the Loan Regulations shall bq 31 Declmber 2018 or such olher date as may from lime lo
tim€ be agreed between the Eonower and AD8.
6
ARTICLE IV
Pa lcula. Covansnt!
(a) The Bonower shall caus€ the Projsct to bo
Sgcljon 4.0'1.
canied oul whh du€ dlligenc€ and olIici€ncy and in conlormlty wilh 6ound applic€ble
t€chnical, financial, business, and dovolopmgnt practic€s.
(b)
ln the carrying out of lhe Projsc,i and op€ration of lh6 Proiod facillties,
tho Sorowsr shall perform, or causo lo be perfomed, all obllgations set torth ln Schedul€ 5
to the Special Oporauons Loan A0re€m6nt and the Project Agr€€ment.
Seclion 4 02
The Borrowqr sh6ll mak€ available, or caus6 to be
mad6 availablo, promptly as nsoded, lhe funds, facilities, sorvices, land and othe. rcsources,
as requirod, in addilion to the proceeds of the Loan, for th€ carrying out of th€ Proioct.
4.03.
(a)
Section
ln the carrying out of the Project, th€ Borrow€r
sholl cause competent and qualified consultants and contractors, acc6ptabl6 to ADB, to be
employed to an etnent and upon terms and conditions satisfactory to lhe Borrowor and ADB.
(b) The Borrower shall cause the Project to b€ carried out in accordanc€
with plans, design standardg, speciflcations, wolk schedul€s and construclion methods
acceptable to th€ Eorrower and ADB, as applicablo. Th€ Bonowor shall furnish, or cause to
b€ fumish€d, to AD8, promply aiter th€ir preparation, such plans, d€sign standards,
speciffc€tions and work schedules, and any matoial moditicataons subs6quonlly made
thor€in, in such d€tail as ADB shall reasonably rgquest.
Section 4 04
The Borowor shall onsurg that th6 actMlies of its
dopartmgnts and agencles with r€spec't lo the carrylng oul of the Project and operation oflhe
Prcj6d facilltios ar6 conducted and coordinated in ac@.dan@ with sound administrstive
policios and proc6dures.
Socton 4 05
Th6 Eonouer shall enable ADB'S r€presentatlves to
inspecl the Projgct and Wol*s, and any rslevanl re@rds ancl documonts.
(a)
The Bonower shall cause MDF to (i) mainl,ain
Section 4 06
s6parat6 accounts and r€cords for tho Projeat; (ii) pEparo annual financial statemsnlg for tho
Projocl in accordanco with accounting principles acceplable to ADB; (iii) havo such linancial
slatements audltod annually by ind6p€ndent 6uditors whose qualifications, experienc€ and
tems of referenc€ ar6 aco€ptablo to ADB, in acaordance with intemational standards lor
audltlng or th6 naUonal oquivalgnt acc€ptabl6 to AoBi (iv) as pan of each such audit, have
the auditors propsre a r6pod (which Indudes th6 suditors opinion on the usB of ths Loan
proco€ds and complj€nco with the linancial covenants of lhis Loan Agre6m6nl as w€ll as on
th6 us6 of tho procoduros for the imprest eccount(s) and statemant oI expsndiluros) and a
manag€ment l€tt6r (which sets oul the defici€ncies in lh€ internal control of tho Projgcl that
wer6 identifl€d in the cou6e of lh€ audat, if any); and (v) furnish to AD8, no later than 6
months alt6r ths 6nd of each relatgd liscal yoar. coPi€6 oI such audited financial stiat€ments,
audlt r6po and manag€ment l6tter, all in th6 English languago, and such othor Informatlon
con@ming th€se documsnts and lhs sudit theroof as AOB 6hall from time to limo roasonably
roquest.
7
(b) ADB shall disclose th6 annual auditsd financial statBments for th€
Poect and th6 oplnlon of th6 audiiors on tho flnancial stat€mor(s wlthln 30 days of th€ date
of their rocolpt by posting them on A08's w6bsite.
(c)
The Borro\ /€r shall enablo ADB. upon ADB'S r6quest, to discuss the
financial ltatemBnls for th6 Projecl and the Bonow€/s llnanclal affairg where they relale to
the Projoc,t with th€ audltors appoinl€d pulsuant io subsecl,on (axiii) heroinabov6, and shall
authorlzo and requlre any ropr$entativo of such Budltors to participate in any ruch
dlscusslons requssted by AOB. Thls is providod thet such discussions shatt b6 conducted
only in tho pr6enc€ of an aulhorizod ofllcer of the Bonow6r, unless the Borow€r shall
olheruisg agroe.
Seclion 4 07
The Bonower shall snsurs that any facilities rel6vanl to
the ProJ€c1 ar€ opgratod, malnlalnod and repairod in sc@rdance with sound applicabte
technical,llnanoial, buslnsss, dgvelopmenl, oporaiionaland maintonance practices.
Seclion 4 08
Tho Oorrcwor shal lake al actions which shal be
nocessary on its pert lo oneble MoF to p€rform its obligataons under the Projecl Agrsement,
and shall nol take or permit any action which would int€rf€r€ with the performan@ of su6h
obllgatjons.
V
A.RTICLE V
Elloc'dv.nes3
Sooion 5 01
Th€ followlng is spocmod as an additional condltion to
lhe effecllveness of this Loan Agro€ment tor lh€ purpos€s ol Section 10.01(0 of th€ Loan
Regulalions: the Special Op€rations Loan Agro€ment shall hav6 be6n duly ex€cuted and
d6lavered on behafi oI th€ Bonower and all conditions precodent to its effectiv€nogg (oth6r
than a condition roquklng the offectiveness ofthls Loan Agregm6nt) shall have b€6n fulfilled.
Seclion 5 02
The following is spocified as an additional matier, for
the purposos of Soction 10.02(d) of tho Loan Regulations, to be included in th6 opinion or
oplnions lo bs fumish€d to ADB: that tho Spocial Oporalions Loan Agreement has be€n duly
authorizod or latiUod by, and executed and dolivered on b€hall of, tha Borrower and is legally
blnding upon lhe Bonow€r ln accordance wilh its terms.
Sedion 5 03
A date 60 days afur th6 dat€ of this Loan Aorooment is
Gpocnod for the 6fiectiv6ng6s of this Loan Agro€menl for the purposos of Section 10.04 of
th6 Loan Regulationg.
I
ARTICLE VI
O.l.gltlon ot Auihorlty
Sedion 6 01
Th6 Borow6. hgr€by d68lgnates MOF as lts agent for
th€ purposes of taking any action or ont€rlng lnto any agreom€nt required or p€rmitted under
S€cllons 3.02. 3.03 and 3.05 of this Loan Agreement and und6r Sections 6.01, 6.02, 6.03
and 6.04 oftho Loan R€gulatlons.
Seclion 6 02
Any action taken or any agreoment €ntered into by MDF
puBuant to th€ euthority conf€fied und€r Section 6.01 of thB Loan Agrsem€nt shall be fully
bindlng on lhe Eorowor and shall have the 6ame force and 6ff6ct as if taken by the
Eorower,
Section 6 03
The aulhori9 conforr€d on MDF under Section 6-01 of
thls Loan Agrcomeni may be r€voked or modifled by agrsement betweon tho Boffow€r and
AOB.
ARTICLE VI!
iScolllnaouB
Tho Mlnistor ot Financ€ of the Bonow€r is designated
Seclion 7 01
as r€pres€ntaiiv6 of the Borrower for th€ purposes of Section 12.02 of the Loan Regulations.
Th€ followiog addresses ar6 spec i€d for the puQoses
Soolion 7 02
of S6djon 1 2.0'l of th€ Loan Rogulatlon6:
For lhs Bodolver
Publlc Dobt and External Flnanca Depa(m€nt
Minisfy of Flnanca
16 Gorlarali StEet, 01'14
Tbilisi, Goo.gla
Facslmll€ Numbei
(99532) 2261 461.
I
For ADB
Asa6n Osvelopmsnt Bank
6 AOB Av€nue
Mandaluyong City
1 550 Metro Manila
Philippines
Facslmil€ Numbers:
\6321 63d2444
(632)63&2301.
lN WITNESS WHEREOF the partlos h€reto, acting through lhejr
repres€ntativeg therounto duly aulhoriz€d, have caused this Loan Agr€ement lo b6 signed in
thok respoctiv6 names as ol the day and ysar tirsl abov6 wratten and lo be deliver6d at lhe
pdncipalolUce of ADB.
V
Mlnister of Financo
R6sident Repr€sentalv€
Georgia Residont Mission
10
SCHEDULE 1
Amod4tlon schedulc
(Suatalnlbla Urban Tranaporl lnvaalmonl Program - Pro.lact 2)
'1.
The lollowing tablo s€ts forth the Principal Paym€ni Datos of the Loen and the
perc€ntagg oflhs total principalamount ol lh€ Loan payablo on €ach Principal Paym6nt Oato
(lnstallrnent Share). ll th6 proceeds of lho Loan shall havo b66n fully withdrawn as of tho
Iirst Principal Paym€nt Oate, the pdncipal amount of the Loan r€payable by the Eorowor on
€ach Principal Paym€nt Dato shall be doterminad by ADB by multiplying; (a) the total
pdncipal amount ol thg Loan withdrawn and outstanding as of lh€ first Princlpel Paymonl
oale; by (b) the lnstallment Sharo for oach Principal Paymonl Date, such repaymont amount
to b€ adJugt€d, as necesaary, to dedud any amounls refered to in paragraph 4 of thi8
Schedul6. to which a Curency Conversion appli6s.
Pavlnent Due
ns● lment Share
(Expressed as a%)
V
15」 anuary 2020
15」 uly 2020
15 January 2021
15」 uly 2021
15」 anuary 2022
15」 uly 2022
15」 anuary 2023
15」 uly 2023
15」 anualγ 2024
15」 ulソ 2024
15」 anuary 2025
15」 uly 2025
15」 anualγ 2026
15」 uly 2026
15」 anuary 2027
15」 uty 2027
15 0anuary 2028
1 5 0uly 2028
15 0anuary 2029
15」 uly 2029
15」 anuary 2030
15」 uly 2030
15 January 203'
15」 uly 2031
15」 anualγ 2032
15」 uly 2032
15」 anuary 2033
15」 uly 2033
15」 anualγ 2034
15 July 2034
2'73913
2173913
2173913
2173913
2173913
2173913
2173913
2173913
2173913
2173913
2173913
2173913
2173913
2173913
2173913
2173913
2173913
2173913
2173913
2173913
2173913
21739,3
2173913
2173913
2,73913
2173913
2173913
2173913
2173913
2173913
11
Schedule l
Pavmont Oue
15 July 2042
2173913
2173913
2173913
2173913
2173913
2173913
2,73913
2173913
2173913
2173913
2173913
2,73913
2,73913
2,73913
2173913
2173915
Total
100.000000
15J● nuary 2035
15」 uly 2035
15」 anuary 2036
15」 uly 2036
15」 anuary 2037
15」 uly 2007
15 Janu● ry 2038
16 July 2038
15」 anuary 2039
15」 uly 2039
15 080uary 2040
15」 uly 2040
15」 anualγ 2041
15 July 2041
V
lnsla‖ ment Sharo
(Expressod as a%)
15」 anualγ 2042
2.
lf tho proFods of the Loan shall not hav€ b€gn fully withdrawn as of the llrst
Prinoipal Psyment Dat6, tha prlnclpalamount ol the Loan ropayable by the Boro\rer on €ach
Prlncipal Paymant Dat€ shall be detormlngd ar follows:
(a)
To tho extont lhatany proc€ods of th€ Loan shall have been withdrawn
es of th6 ,lrst Principal Payment oate, th€ Bono\Ner shall repay th6 amount t{ithdrawn and
oubtanding as of srrch date in accordance with paragraph 1 oflh,s Schedul€.
(b)
Any withdrawal made after the first Pranclpal Payment Dale shall be
rcpaid on €ach Pdncipal Payrnent Dats falling afror th6 dat6 of such withdrawal in amountg
doterminod by ADB by muttiplylng th6 amouni of €ach such wllhdraral by a fradion, the
numelator ot whlch shall be th€ odginal lnstallment ShArB sp€cm6d in the table in paragraph
1 ot this Schodul€ lor sald Principal Paymont Date (th€ Original lnstallm€nt Shar6) and tho
denominator of which shall be th€ sum of all remaining Origlnal lnsi,allm€nt Shares for
Prlncipal Paymont Dat69 falllng on or aflor such dat€, such repaym€nt amounts lo be
V
adjusted, as n€ces8ary, lo deduct any amountrs rofened to in paragraph 4 ot lhis Scheduls,
to which a Cunency Conversion applies.
3.
Withdrawals mad€ withlh two calendar months pdor to any Princlpal Paym6nt
0at9 ghall, lor th6 purpogos sololy ot calculatlng the prlncipal amounls payabls on any
Principal Paymgnt Date, b€ tr€aiod a6 withdrawn and outstanding on the second P nclpal
Paym6nt 0at6 following th€ dat6 of withdrawel and shall b€ repayable on 6ac+r Princlpal
Paymont Dats comm€ncing with the second Principal Payment Date following lhe date ol
4.
Notwith8tanding lhs provisions of paragraphs 1 and 2 of this Schedul€, upon a
Curency Convgrsion ot all or any portion of th6 withdrawn prlnclpal amount of lhe Loan to an
12
Sch€dul€ I
Approvod Currency, tho amounl so convsrt6d in sold Approvod Currency thst shal be
repayable on any Princlpal Payrnent Oato occrrring during the Conversion p6dod, shall bs
delerminod by ADB by multiplying such amount in its currdncy ol donomination immodiatoty
priorlo sald Convolsion by either: (i) the exchange rate that reflects the amounls of pdncipal
in said Ap-prowd Cura6ncy payabl€ by ADB under the Cunency H6dgs Transac on r€latjng
to sald Convorslon; or (ii) ADB so determines in accordanc€ with the Conv€rson
Guldollnos, thg gxdtangg rate componont oftho Scresn Rat€.
f
5.
lf the p.incipal amount of th€ Loan withdrawn and outstanding fiom time to
limo shall b6 cl€nominated in more than one Loan Curoncy, the provisions of thi6 Schodute
shall 6pply s€paratoly to th6 amount denominated in eech Loan Curroncy, so as to produce a
s€parato amortlzation schedule for gach such amounl
V
▼
13
SCHEOuLE 2
Allocati● n and Wlthanwa10f Loan Pro● 00d8
Gen€ral
1.
Th6 tabl€ attached
to ihis Schodulo s6ts forth th6 Cat€godes of items of
expenditurg to b€ flnanc€d out of lhe procaocts of ttre roan and the
ati&0o; ;i
pro.ceeos to sach such Catogory ("Tabt6"). (Relersnco
to.Categoq/ tn thls ScheOuie b to a
uar€gory or 5uDc3t6gory of lhe Tabte).
il; i"""
Baals for Wilhdrawal from the Loan Account
?:
,
..Er9"p! as_ ADB may otheMiEo egree, tho proco6ds of the Loan shalt bo
olsDuGoO on the basis ol th€ withdEwat D€.contago for sach item of
the Table-
expendltur€ s€l forth in
lnlercst and Commltment Charoes
V
3-
Tho amourd altocatod to Catagory 3 is for financing intsrest and commitmont
charges on the Loandudng tho tmptementatbn pe.tod of the proiect. rcg 6hifi
bo ;;iiUeO
to fifidraw Lom the Loan Account 6nd pay to its€tf. on b€haf ofihe Bonower, th6 amounls
r6qulle0 lo rn6el payments, wh€n due. of such int€rosl and comm,thenl charges.
Reallocation
4.
Notwithstandino the allocslion ot Loan proce6ds and th€ wtthdrawat
p€rcontaget set forth in the Tabl6,
(a)
iI th6 amounl of th6 Loan alocated to any Catego.y appoaE to b€
lnsufficient lo financo a[ agrood expond[ures in that Catogory, ADB m;y,'by ;olice
6 th€
tsorrow€r, (D roattocale to gudt Category, to lhe oxtent roquired to me6t lhe esllmated
Bhodfall, amounts ot the Loan whlch havB b€sn allocatod to anolher Cateqory but, in lhe
oplnion of AOB, are not ne€dod to ft€ot oth6r oxpendttures, and
s;ch'r€aloca on
csnnot tully m.ot th6 estjmat6d ghortfall, reduca the wlthdrawat percl€ntag€ appllcabto to
such oxpondituros in ord6r thot fudhor withdraxrats und6r such CaiogoFiy c6,itnue ,tntit
allexpsndltures ther€und€r shall havg bqen mad6; and
(ii)
(b)
V
if the amount of th€ Loan allocatod to any Category appears to exc€ed
all agr€€d €xponditures in th6t Caiogory, AOB may, by notiie to flie ito;;r./€r, roa ocate
such €xcsss amounl to any other Category.
Dlsbulsgmonl Prccsdures
5.
Excspt as ADB may olhelwise agrs6, the Loan proc€ods sha be disbursed in
accordanc€ with the Loan Disbursemant Handbook.
Sciedut€ 2
Refoacliv6 Finaoclno
6.
Withdrawats trcm lh€ Loan Accounl may bo mad€ foa roimbursehont of
eligible exp6ndltures incun6d und€r the prqoct b6roG the Effoctivo Oate, bul not oarlior than
12 months boJoro tho dato of thls Loan ,€.oemenl in conneclion with Wor*s and Consuttang
SeMcas, subJect to maxlmum amount equlvalent to 2oyo ofthe Loan amounl.
I
V
15
Atlachment to Schedute 2
TABLE
ALLOCATIONANOWM
(SuBtalnable Urban T.anlpo.l lnve3tmont program
- proJect 2)
Total Amount Alocat.d
tor ADB Flnanclng
l{umbor
Item
($)
Catooorv
50,000,000
1
80% of total €xpenditur6
claimod'
4549,000
8070 oI total oxpenditure
3
Consulting Servicss
lnlereet and Commitm-nCharqes
1,616,400
100% of amounts du€
4
Unallocaled
7.834600
Tolal
64,000,000
2
'ExclGiv. of laxgs and doti€s impossd within lhe territory of ths Bo.row€r.
V
Basls lo, Wthdrawal
from the Loan Account
claim€d'