Conformed Copy - C2449 - Renewable Resources Development Project - Global Environment Trust Fund Grant Agreement

Page 1 CONFORMED COPY GET GRANT NUMBER 28633 IN Global Environment Trust Fund Grant Agreement (Renewable Resources Development Project) between INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LIMITED and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT acting as Trustee of the Global Environment Trust Fund Dated March 5, 1993 GET GRANT NUMBER 28633 IN GLOBAL ENVIRONMENT TRUST FUND GRANT AGREEMENT AGREEMENT, dated March 5, 1993, between INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LIMITED, a company registered under the Companies Act, 1956 of India (the Recipient) and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT acting as Trustee of grant funds provided by Participants of the Global Environment Facility into the Global Environment Trust Fund (GET) (the Trustee). WHEREAS: (A) the International Bank for Reconstruction and Development (the Bank) pursuant to Resolution No. 91-5 of March 14, 1991, of the Executive Directors of the Bank (the Resolution), established the Global Environment Facility consisting of the GET, Cofinancing Arrangements with the GET and the Ozone Projects Trust Fund, to assist in the protection of the global environment and promote thereby environmentally sound and sustainable economic development; (B) certain members of the Bank (the Participants) have provided resources by way of grants into the GET and the Participants have requested and the Bank has agreed, to administer such grant funds as Trustee, for the purposes of, and in accordance with, provisions of the Resolution; Page 2 (C) India, acting by its President (India) and the Recipient, having been satisfied as to the feasibility and priority of the Project described in Schedule 2 to the Development Credit Agreement, have requested assistance from the resources of the GET in the financing of the Project, and the Trustee has determined that such assistance would be in accordance with the provisions of the Resolution; (D) by a loan agreement of even date herewith between the Bank and Tamil Nadu Newsprint and Papers Limited (TNPL), the Bank has agreed to make a loan to TNPL in an aggregate principal amount of $75,000,000 (the TNPL Loan) to assist TNPL in financing of Part A of the Project on the terms and conditions therein set forth; (E) India has also requested the International Development Association (the Association) to provide additional financing towards the financing of the Project and by an agreement of even date herewith between India and the Association, the Association is agreeing to provide such assistance in an aggregate principal amount equivalent to eighty one million six hundred thousand Special Drawing Rights (SDR 81,600,000) (the Credit); (F) India intends to contract from DANIDA a loan (the DANIDA Loan) to assist in financing the Project on the terms and conditions set forth in an agreement (the DANIDA Loan Agreement) to be entered into between India and DANIDA; (G) India has requested from Switzerland a grant (the Swiss Grant) to assist in financing the Project on the terms and conditions set forth in an agreement (the Swiss Grant Agreement) to be entered into between India and Switzerland; and (H) the Trustee has agreed, on the basis, inter alia, of the foregoing, to extend the GET Grant to the Recipient upon the terms and conditions set forth in this Agreement; NOW THEREFORE the parties hereto hereby agree as follows: ARTICLE I General Conditions; Definitions Section 1.01. (a) The following provisions of the General Conditions Applicable to Loan and Guarantee Agreements of the Bank, dated January 1, 1985, with the modifications set forth in paragraph (b) of this Section (the General Conditions) constitute an integral part of this Agreement: (i) Article I; (ii) Sections 2.01 (1), (2), (3), (4), (6), (8), (9), (10), (11), (15), (18) and (20), 2.02 and 2.03; (iii) Section 3.01; (iv) Section 4.01 and the first sentence of Section