BWBV0004006
Geldig vanaf 13-03-1975
Artikel X
Tweede Overeenkomst inzake het Nam Ngoem Ontwikkelingsfonds, 1974. Overeenkomst van 26 juni 1974 tussen de Regering van Australië, Canada, de Bondsrepubliek Duitsland, India, Japan, Laos, het Koninkrijk der Nederlanden, Nieuw-Zeeland, Thailand, het Verenigd Koninkrijk van Groot-Brittannië en Noord-Ierland en de Verenigde Staten van Amerika, enerzijds, en de Aziatische Ontwikkelingsbank anderzijds
Section 10.01. If any of the events specified below shall have occurred and, in the opinion of the Administrator, shall be likely to continue, the Administrator shall promptly notify all other Parties of such event and may by notice to such Parties suspend disbursements from the Fund in whole or in part: (a) the Administrator shall have determined that the finance available may be insufficient to meet the estimated cost of the Project;
(b) an event shall have occurred which will or may adversely affect the ability of EDL to carry out the Project or to operate and maintain the Project facilities;
(c) a default shall have occurred in the performance by Laos of any of its obligations under this Agreement or the Financing Agreement;
(d) a default shall have occurred in the performance by EDL of any of its obligations under the Project Agreement or the Financing Agreement;
(e) any other situation shall have arisen which will make it impossible or improbable that the Project can be successfully completed or that the purposes of this Agreement can be substantially accomplished.
(a) the Administrator shall have determined that the finance available may be insufficient to meet the estimated cost of the Project;
(b) an event shall have occurred which will or may adversely affect the ability of EDL to carry out the Project or to operate and maintain the Project facilities;
(c) a default shall have occurred in the performance by Laos of any of its obligations under this Agreement or the Financing Agreement;
(d) a default shall have occurred in the performance by EDL of any of its obligations under the Project Agreement or the Financing Agreement;
(e) any other situation shall have arisen which will make it impossible or improbable that the Project can be successfully completed or that the purposes of this Agreement can be substantially accomplished.
Section 10.02. (a) If, pursuant to Section 10.01, the Administrator shall suspend disbursements from the Fund in whole or in part, the Contributing Parties, Laos and the Administrator shall forthwith consult concerning the measures to be taken to correct the event or events giving rise to such suspension.
(b) If, after such consultation, a special majority of the Contributing Parties shall decide (i) that any such suspension shall be removed, the Administrator shall act in accordance with such decision; or (ii) that such event is not likely to be corrected and that the purposes of this Agreement are not likely to be substantially accomplished, this Agreement shall terminate.
(c) Pending any decision under Section 10.02 (b), the suspension shall continue.
(a) If, pursuant to Section 10.01, the Administrator shall suspend disbursements from the Fund in whole or in part, the Contributing Parties, Laos and the Administrator shall forthwith consult concerning the measures to be taken to correct the event or events giving rise to such suspension.
(b) If, after such consultation, a special majority of the Contributing Parties shall decide (i) that any such suspension shall be removed, the Administrator shall act in accordance with such decision; or (ii) that such event is not likely to be corrected and that the purposes of this Agreement are not likely to be substantially accomplished, this Agreement shall terminate.
(c) Pending any decision under Section 10.02 (b), the suspension shall continue.
Section 10.03. (a) Notwithstanding the provisions of Section 10.02 (b) (i), if the Administrator, after consultation with the Contributing Parties and Laos, shall decide that the event or events giving rise to any suspension is or are not likely to be corrected or that the Administrator is not likely to be able to carry out its duties under this Agreement in an effective manner and shall so notify the Parties, the obligations of the Administrator under this Agreement shall cease, subject to Section 10.03 (b).
(b) Promptly after the termination of its obligations pursuant to Section 10.03 (a), the Administrator shall transfer all assets then remaining in the Fund to such person or entity as Laos and a special majority of the Contributing Parties shall designate to the Administrator for the purpose of this Section 10.03. Failing such designation within six months after date of the Administrator's notice under Section 10.03 (a), the Administrator shall dispose of such assets in the manner specified in Section 10.06.
(a) Notwithstanding the provisions of Section 10.02 (b) (i), if the Administrator, after consultation with the Contributing Parties and Laos, shall decide that the event or events giving rise to any suspension is or are not likely to be corrected or that the Administrator is not likely to be able to carry out its duties under this Agreement in an effective manner and shall so notify the Parties, the obligations of the Administrator under this Agreement shall cease, subject to Section 10.03 (b).
(b) Promptly after the termination of its obligations pursuant to Section 10.03 (a), the Administrator shall transfer all assets then remaining in the Fund to such person or entity as Laos and a special majority of the Contributing Parties shall designate to the Administrator for the purpose of this Section 10.03. Failing such designation within six months after date of the Administrator's notice under Section 10.03 (a), the Administrator shall dispose of such assets in the manner specified in Section 10.06.
Section 10.04. In Sections 10.02 and 10.03, “a special majority of the Contributing Parties” means a majority of the Contributing Parties whose contributions constitute more than two-thirds of the aggregate contributions to the Fund.
Section 10.05. Subject to Section 10.06, this Agreement, unless sooner terminated pursuant to Section 10.02 or 10.03, shall terminate upon completion of the Project or upon disbursement from the Fund of all amounts required to meet the cost of the goods, whichever is later.
Section 10.06. If at the termination of this Agreement any amounts shall remain in the Fund, the Administrator, in consultation with the Contributing Parties and other Governments and entities (if any) referred to in Section 12.02, shall determine the manner of disposition of such amounts, including the recipients, amounts, times, methods and currencies of payment thereof.
(b) an event shall have occurred which will or may adversely affect the ability of EDL to carry out the Project or to operate and maintain the Project facilities;
(c) a default shall have occurred in the performance by Laos of any of its obligations under this Agreement or the Financing Agreement;
(d) a default shall have occurred in the performance by EDL of any of its obligations under the Project Agreement or the Financing Agreement;
(e) any other situation shall have arisen which will make it impossible or improbable that the Project can be successfully completed or that the purposes of this Agreement can be substantially accomplished.
(a) the Administrator shall have determined that the finance available may be insufficient to meet the estimated cost of the Project;
(b) an event shall have occurred which will or may adversely affect the ability of EDL to carry out the Project or to operate and maintain the Project facilities;
(c) a default shall have occurred in the performance by Laos of any of its obligations under this Agreement or the Financing Agreement;
(d) a default shall have occurred in the performance by EDL of any of its obligations under the Project Agreement or the Financing Agreement;
(e) any other situation shall have arisen which will make it impossible or improbable that the Project can be successfully completed or that the purposes of this Agreement can be substantially accomplished.
Section 10.02. (a) If, pursuant to Section 10.01, the Administrator shall suspend disbursements from the Fund in whole or in part, the Contributing Parties, Laos and the Administrator shall forthwith consult concerning the measures to be taken to correct the event or events giving rise to such suspension.
(b) If, after such consultation, a special majority of the Contributing Parties shall decide (i) that any such suspension shall be removed, the Administrator shall act in accordance with such decision; or (ii) that such event is not likely to be corrected and that the purposes of this Agreement are not likely to be substantially accomplished, this Agreement shall terminate.
(c) Pending any decision under Section 10.02 (b), the suspension shall continue.
(a) If, pursuant to Section 10.01, the Administrator shall suspend disbursements from the Fund in whole or in part, the Contributing Parties, Laos and the Administrator shall forthwith consult concerning the measures to be taken to correct the event or events giving rise to such suspension.
(b) If, after such consultation, a special majority of the Contributing Parties shall decide (i) that any such suspension shall be removed, the Administrator shall act in accordance with such decision; or (ii) that such event is not likely to be corrected and that the purposes of this Agreement are not likely to be substantially accomplished, this Agreement shall terminate.
(c) Pending any decision under Section 10.02 (b), the suspension shall continue.
Section 10.03. (a) Notwithstanding the provisions of Section 10.02 (b) (i), if the Administrator, after consultation with the Contributing Parties and Laos, shall decide that the event or events giving rise to any suspension is or are not likely to be corrected or that the Administrator is not likely to be able to carry out its duties under this Agreement in an effective manner and shall so notify the Parties, the obligations of the Administrator under this Agreement shall cease, subject to Section 10.03 (b).
(b) Promptly after the termination of its obligations pursuant to Section 10.03 (a), the Administrator shall transfer all assets then remaining in the Fund to such person or entity as Laos and a special majority of the Contributing Parties shall designate to the Administrator for the purpose of this Section 10.03. Failing such designation within six months after date of the Administrator's notice under Section 10.03 (a), the Administrator shall dispose of such assets in the manner specified in Section 10.06.
(a) Notwithstanding the provisions of Section 10.02 (b) (i), if the Administrator, after consultation with the Contributing Parties and Laos, shall decide that the event or events giving rise to any suspension is or are not likely to be corrected or that the Administrator is not likely to be able to carry out its duties under this Agreement in an effective manner and shall so notify the Parties, the obligations of the Administrator under this Agreement shall cease, subject to Section 10.03 (b).
(b) Promptly after the termination of its obligations pursuant to Section 10.03 (a), the Administrator shall transfer all assets then remaining in the Fund to such person or entity as Laos and a special majority of the Contributing Parties shall designate to the Administrator for the purpose of this Section 10.03. Failing such designation within six months after date of the Administrator's notice under Section 10.03 (a), the Administrator shall dispose of such assets in the manner specified in Section 10.06.
Section 10.04. In Sections 10.02 and 10.03, “a special majority of the Contributing Parties” means a majority of the Contributing Parties whose contributions constitute more than two-thirds of the aggregate contributions to the Fund.
Section 10.05. Subject to Section 10.06, this Agreement, unless sooner terminated pursuant to Section 10.02 or 10.03, shall terminate upon completion of the Project or upon disbursement from the Fund of all amounts required to meet the cost of the goods, whichever is later.
Section 10.06. If at the termination of this Agreement any amounts shall remain in the Fund, the Administrator, in consultation with the Contributing Parties and other Governments and entities (if any) referred to in Section 12.02, shall determine the manner of disposition of such amounts, including the recipients, amounts, times, methods and currencies of payment thereof.
- Citeren als
- Art. X
- Geldig vanaf
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- Geldend recht
- Identificatie
- BWBV0004006
- Officiële bron
- wetten.overheid.nl