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RE-BID ITB # 23-10-01 JOINT PROCUREMENT CENTRAL ISLAND
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(23-10-01) Re-Bid Joint Procurement with NMB Central Island Drainage Improvements
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RE-BID ITB # 23-10-01 JOINT PROCUREMENT CENTRAL ISLAND
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10/13/2023 1:29:03 PM
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10/13/2023 1:26:10 PM
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TABLE OF CONTENTS <br />Page <br />ARTICLE I DEFINITIONS AND INTERPRETATION ....................................................................................... 2 <br />Section 1.Definitions......................................................................................................................................... 2 <br />Section 2.Interpretation ................................................................................................................................... 16 <br />ARTICLE II THE WIFIA LOAN ........................................................................................................................... 17 <br />Section 3.WIFIA Loan Amount ...................................................................................................................... 17 <br />Section 4.Disbursement Conditions ................................................................................................................ 18 <br />Section 5.Term ................................................................................................................................................ 19 <br />Section 6.Interest Rate .................................................................................................................................... 19 <br />Section 7.Security and Priority; Flow of Funds. ............................................................................................. 19 <br />Section 8.Payment of Principal and Interest ................................................................................................... 20 <br />Section 9.Prepayment ..................................................................................................................................... 21 <br />Section 10.Fees and Expenses .......................................................................................................................... 22 <br />ARTICLE III CONDITIONS PRECEDENT ........................................................................................................ 24 <br />Section 11.Conditions Precedent ...................................................................................................................... 24 <br />ARTICLE IV REPRESENTATIONS AND WARRANTIES............................................................................... 29 <br />Section 12.Representations and Warranties of Borrower ................................................................................. 29 <br />Section 13.Representations and Warranties of WIFIA Lender ......................................................................... 35 <br />ARTICLE V COVENANTS .................................................................................................................................... 35 <br />Section 14.Affirmative Covenants .................................................................................................................... 35 <br />Section 15.Negative Covenants ........................................................................................................................ 42 <br />Section 16.Reporting Requirements ................................................................................................................. 45 <br />ARTICLE VI EVENTS OF DEFAULT ................................................................................................................. 50 <br />Section 17.Events of Default and Remedies ..................................................................................................... 50 <br />ARTICLE VII MISCELLANEOUS ....................................................................................................................... 53 <br />Section 18.Disclaimer of Warranty ................................................................................................................... 53 <br />Section 19.No Personal Recourse ..................................................................................................................... 53 <br />Section 20.No Third Party Rights ..................................................................................................................... 54 <br />Section 21.Borrower’s Authorized Representative ........................................................................................... 54 <br />Section 22.WIFIA Lender’s Authorized Representative .................................................................................. 54 <br />Section 23.Servicer ........................................................................................................................................... 54 <br />Section 24.Amendments and Waivers .............................................................................................................. 54 <br />Section 25.Governing Law ............................................................................................................................... 54 <br />Section 26.Severability ..................................................................................................................................... 54 <br />Section 27.Successors and Assigns ................................................................................................................... 55 <br />Section 28.Remedies Not Exclusive ................................................................................................................. 55 <br />Section 29.Delay or Omission Not Waiver ....................................................................................................... 55 <br />Section 30.Counterparts .................................................................................................................................... 55 <br />Section 31.Notices ............................................................................................................................................ 55 <br />Section 32.Indemnification ............................................................................................................................... 56 <br />Section 33.Sale of WIFIA Loan ........................................................................................................................ 57 <br />Section 34.Effectiveness ................................................................................................................................... 57 <br />Section 35.Termination ..................................................................................................................................... 57 <br />Section 36.Integration ....................................................................................................................................... 57 <br />Section 37.Truth-In-Bonding and Disclosure Statement .................................................................................. 57 <br />i <br /> <br />
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