Zakon o potvrđivanju Finansijskog ugovora Održivo unapređenje putne mreže između Republike Srbije i Evropske investicione banke

Contract Number (FI N°) 91756

Operation Number (Serapis N°) 2019-0805

SUSTAINABLE IMPROVEMENT OF ROAD NETWORK

EFSD+ Dedicated Investment Window 1

Finance Contract

between the

Republic of Serbia

and the

European Investment Bank

Belgrade, 23 December 2025

Luxembourg, 23 December 2025

WHEREAS: ........................................................................................................................................... 7

INTERPRETATION AND DEFINITIONS .............................................................................................. 9

ARTICLE 1 .......................................................................................................................................... 19

1.1 AMOUNT OF CREDIT ............................................................................................................ 19

1.2 DISBURSEMENT PROCEDURE ........................................................................................... 19

1.2.A TRANCHES ............................................................................................................................... 19 1.2.B DISBURSEMENT OFFER ............................................................................................................. 19 1.2.C DISBURSEMENT ACCEPTANCE ................................................................................................... 19 1.2.D DISBURSEMENT ACCOUNT ......................................................................................................... 20

1.3 CURRENCY OF DISBURSEMENT ....................................................................................... 20

1.4 CONDITIONS OF DISBURSEMENT ..................................................................................... 20

1.4.A CONDITION PRECEDENT TO THE FIRST REQUEST FOR DISBURSEMENT OFFER .............................. 20 1.4.B FIRST TRANCHE ........................................................................................................................ 20 1.4.C ALL TRANCHES ......................................................................................................................... 21

1.5 DEFERMENT OF DISBURSEMENT ..................................................................................... 22

1.5.A GROUNDS FOR DEFERMENT ....................................................................................................... 22 1.5.B CANCELLATION OF A DISBURSEMENT DEFERRED BY 6 (SIX) MONTHS ............................................ 23

1.6 CANCELLATION AND SUSPENSION ................................................................................... 23

1.6.A BORROWER’S RIGHT TO CANCEL ................................................................................................ 23 1.6.B BANK’S RIGHT TO SUSPEND AND CANCEL .................................................................................... 23 1.6.C INDEMNITY FOR SUSPENSION AND CANCELLATION OF A TRANCHE ................................................ 23

1.7 CANCELLATION AFTER EXPIRY OF THE CREDIT ............................................................ 24

1.8 SUMS DUE UNDER ARTICLES 1.5 AND 1.6 ....................................................................... 24

1.9 ALLOCATION PROCEDURE ................................................................................................. 25

1.9.A ALLOCATION REQUEST .............................................................................................................. 25 1.9.B ALLOCATION LETTER ................................................................................................................. 25

1.10 REALLOCATION PROCEDURE ............................................................................................ 25

ARTICLE 2 .......................................................................................................................................... 26

2.1 AMOUNT OF LOAN ............................................................................................................... 26

2.2 CURRENCY OF PAYMENTS ................................................................................................ 26

2.3 CONFIRMATION BY THE BANK ........................................................................................... 26

ARTICLE 3 .......................................................................................................................................... 27

3.1 RATE OF INTEREST ............................................................................................................. 27

3.1.A FIXED RATE TRANCHES ............................................................................................................. 27 3.1.B FLOATING RATE TRANCHES ....................................................................................................... 27 3.1.C REVISION OR CONVERSION OF TRANCHES ................................................................................. 27

3.2 INTEREST ON OVERDUE SUMS ......................................................................................... 27

3.3 MARKET DISRUPTION EVENT ............................................................................................ 28

ARTICLE 4 .......................................................................................................................................... 28

4.1 NORMAL REPAYMENT ......................................................................................................... 28

4.1.A REPAYMENT BY INSTALMENTS ................................................................................................... 28 4.1.B SINGLE INSTALMENT.................................................................................................................. 29

4.2 VOLUNTARY PREPAYMENT ................................................................................................ 29

4.2.A PREPAYMENT OPTION ............................................................................................................... 29 4.2.B PREPAYMENT INDEMNITY ........................................................................................................... 29 4.2.C PREPAYMENT MECHANICS ......................................................................................................... 29 4.2.D ADMINISTRATIVE FEE ................................................................................................................ 30

4.3 COMPULSORY PREPAYMENT AND CANCELLATION ....................................................... 30

4.3.A PREPAYMENT EVENTS .............................................................................................................. 30 4.3.B PREPAYMENT MECHANICS ......................................................................................................... 32 4.3.C PREPAYMENT INDEMNITY ........................................................................................................... 32

4.4 GENERAL .............................................................................................................................. 33

4.4.A NO PREJUDICE TO ARTICLE 10 .................................................................................................. 33 4.4.B NO REBORROWING .................................................................................................................... 33

ARTICLE 5 .......................................................................................................................................... 33

5.1 DAY COUNT CONVENTION ................................................................................................. 33

5.2 TIME AND PLACE OF PAYMENT ......................................................................................... 33

5.3 NO SET-OFF BY THE BORROWER ..................................................................................... 33

5.4 DISRUPTION TO PAYMENT SYSTEMS............................................................................... 33

5.5 APPLICATION OF SUMS RECEIVED ................................................................................... 34

5.5.A GENERAL ................................................................................................................................. 34 5.5.B PARTIAL PAYMENTS .................................................................................................................. 34 5.5.C ALLOCATION OF SUMS RELATED TO TRANCHES ........................................................................... 34

ARTICLE 6 .......................................................................................................................................... 34

A. PROJECT UNDERTAKINGS ......................................................................................................... 35

6.1 USE OF LOAN AND AVAILABILITY OF OTHER FUNDS ..................................................... 35

6.2 COMPLETION OF PROJECT ................................................................................................ 35

6.3 INCREASED COST OF PROJECT ........................................................................................ 35

6.4 PROCUREMENT PROCEDURE ........................................................................................... 35

6.5 CONTINUING PROJECT UNDERTAKINGS ......................................................................... 35

6.6 ADDITIONAL UNDERTAKINGS ............................................................................................ 36

B. GENERAL UNDERTAKINGS ........................................................................................................ 37

6.7 COMPLIANCE WITH LAWS .................................................................................................. 37

6.8 CHANGE IN BUSINESS ........................................................................................................ 37

6.9 BOOKS AND RECORDS ....................................................................................................... 37

6.10 INTEGRITY ............................................................................................................................ 37

6.11 DATA PROTECTION ............................................................................................................. 38

6.12 GENERAL REPRESENTATIONS AND WARRANTIES ........................................................ 39

6.13 CONFLICT OF INTEREST ..................................................................................................... 40

ARTICLE 7 .......................................................................................................................................... 40

7.1 PARI PASSU RANKING......................................................................................................... 40

7.2 ADDITIONAL SECURITY ....................................................................................................... 41

7.3 CLAUSES BY INCLUSION .................................................................................................... 41

ARTICLE 8 .......................................................................................................................................... 41

8.1 INFORMATION CONCERNING THE PROJECT .................................................................. 41

8.2 INFORMATION CONCERNING THE BORROWER .............................................................. 42

8.3 VISITS, RIGHT OF ACCESS AND INVESTIGATION ........................................................... 43 8.4 DISCLOSURE AND PUBLICATION ...................................................................................... 44

ARTICLE 9 .......................................................................................................................................... 44

9.1 TAXES, DUTIES AND FEES ................................................................................................. 44

9.2 OTHER CHARGES ................................................................................................................ 45

9.3 INCREASED COSTS, INDEMNITY AND SET-OFF .............................................................. 45

ARTICLE 10 ........................................................................................................................................ 45

10.1 RIGHT TO DEMAND REPAYMENT ...................................................................................... 45

10.1.A IMMEDIATE DEMAND .................................................................................................................. 45 10.1.B DEMAND AFTER NOTICE TO REMEDY ........................................................................................... 46

10.2 OTHER RIGHTS AT LAW ...................................................................................................... 46

10.3 INDEMNITY ............................................................................................................................ 47

10.3.A FIXED RATE TRANCHES ............................................................................................................. 47 10.3.B GENERAL ................................................................................................................................ 47

10.4 NON-WAIVER ........................................................................................................................ 47

ARTICLE 11 ........................................................................................................................................ 47

11.1 GOVERNING LAW ................................................................................................................. 47

11.2 JURISDICTION ...................................................................................................................... 47

11.3 PLACE OF PERFORMANCE ................................................................................................. 48

11.4 EVIDENCE OF SUMS DUE ................................................................................................... 48

11.5 ENTIRE AGREEMENT........................................................................................................... 48

11.6 INVALIDITY ............................................................................................................................ 48

11.7 AMENDMENTS ...................................................................................................................... 48

11.8 COUNTERPARTS .................................................................................................................. 48

ARTICLE 12 ........................................................................................................................................ 48

12.1 NOTICES ................................................................................................................................ 48

12.1.A FORM OF NOTICE ...................................................................................................................... 48 12.1.B ADDRESSES ............................................................................................................................. 49 12.1.C NOTIFICATION OF COMMUNICATION DETAILS ............................................................................... 50

12.2 ENGLISH LANGUAGE ........................................................................................................... 50

12.3 EFFECTIVENESS OF THIS CONTRACT.............................................................................. 50

12.4 RECITALS, SCHEDULES AND ANNEXES ........................................................................... 50

SCHEDULE A ..................................................................................................................................... 53

TECHNICAL DESCRIPTION............................................................................................................... 53

SCHEDULE B ..................................................................................................................................... 66

DEFINITION OF EURIBOR ................................................................................................................. 66

SCHEDULE C ..................................................................................................................................... 68

FORM OF DISBURSEMENT OFFER/ACCEPTANCE (ARTICLES 1.2.B AND 1.2.C) ...................... 68

SCHEDULE D ..................................................................................................................................... 71

INTEREST RATE REVISION AND CONVERSION ............................................................................ 71

SCHEDULE E ..................................................................................................................................... 72

CERTIFICATES TO BE PROVIDED BY THE BORROWER .............................................................. 72

THIS CONTRACT IS MADE BETWEEN:

Republic of Serbia, represented (the "Borrower") by Mr. Siniša Mali, First Deputy Prime Minister and Minister of Finance, on behalf of the Government as representative of the Republic of Serbia,

of the first part, and

European Investment Bank having (the " Bank") its seat at 100 Blvd. Konrad Adenauer, Luxembourg, L-2950 Luxembourg,

of the second part,

The Bank and the Borrower together are referred to as the "Parties" and any of them is a

"Party".

WHEREAS:

(a)

The Borrower, represented by the Ministry of Finance of the Republic of Serbia (MoF), has stated that it, acting through and in cooperation with (i) Ministry of Construction, Transport and Infrastructure (MoCTI) (the "Promoter") and (ii) the public company established and operating in the Republic of Serbia (Decision Establishing Public Enterprise for State Roads Management, No.023/8228/2005, dated December 22, 2005 and published in the Official Gazette of the Republic of Serbia No. 115/05) under the corporate title Public Enterprise "Roads of Serbia" (the "Implementing Entity", as further defined below), is undertaking a project to support the sustainable regional development of different areas in Serbia, specifically covering the road sections which will be identified through multi criteria screening interventions (each operation a "Scheme" or a "Sub-Project" and collectively the "Project"), as more particularly described in the technical description set out in Schedule A to this Contract (the "Technical Description"). The Project Implementation Unit (the "PIU") will be created at the level of the Implementing Entity and may include the representatives of the Promoter to help to manage the Project. The Borrower has stated that the Implementing Entity shall be in charge of the implementation of the Project under oversight of the Promoter, in particular in relation to its technical part and related procurement procedures.

(b)

The total cost of the Project, as estimated by the Bank, is EUR 300,000,000.00 (three hundred million euros) and the Borrower has stated that it intends to finance the Project as follows:

Source Amount (EUR m)

Credit from the Bank under this 150.00 Contract

Other sources 150.00

TOTAL 300.00

(c)

The financing under this Contract is provided pursuant to the European Fund for Sustainable Development Plus ("EFSD+"), an integrated financial package supplying financing capacity in the form of grants, budgetary guarantees and financial instruments worldwide; and in particular under the exclusive investment window for operations with sovereign counterparts and non-commercial sub-sovereign counterparts under article 36.1 of the NDICI-GE Regulation ("EFSD+ DIW1"). Pursuant to article 36.8 of the NDICI-GE Regulation, on 29 April 2022, the Bank and the European Union, represented by the European Commission, entered into an EFSD+ guarantee agreement (the "EFSD+ DIW1 Guarantee Agreement") whereby the European Union granted to the Bank a comprehensive guarantee for eligible financing operations of the Bank in respect of projects carried out in countries within the geographic areas referred to in article 4(2) of the NDICI-GE Regulation and in Annex I of the IPA Ill Regulation (the "EFSD+ DIW1' Guarantee"). The Republic of Serbia is an eligible country pursuant to the NDICI-GE Regulation and the IPA III Regulation.

(d)

The Republic of Serbia and the Bank concluded on 11 May 2009 a framework agreement governing the Bank's activities in the territory of the Republic of Serbia (the "Framework Agreement"). By signing this Contract, the Borrower gives its formal consent in accordance with Article 2 of the Framework Agreement to the loan financing to be provided hereunder falling within the scope of the Framework Agreement.

(e)

In order to fulfil the financing plan set out in Recital (b), the Borrower has requested from the Bank a credit in total amount of EUR 150,000,000.00 (one hundred fifty million euros).

(f)

The Bank, considering that the financing of the Project falls within the scope of its functions and having regard to the statements and facts cited in these Recitals, has decided to give effect to the Borrower’s request providing to it a credit in an amount of EUR 150,000,000.00 (one hundred fifty million euros) under this finance contract (the "Contract"); provided that the amount of the Bank loan, when aggregated with the amount of any other loan which may be extended by the Bank for the purposes of the Project, shall not, in any case, exceed 50% (fifty per cent) of the total cost of the Project set out in Recital (b).

(g)

The Borrower has authorised the borrowing of the sum of EUR 150,000,000.00 (one hundred fifty million euros) represented by this credit on the terms and conditions set out in this Contract.

(h)

The Statute of the Bank provides that the Bank shall ensure that its funds are used as rationally as possible in the interests of the European Union; and, accordingly, the terms and conditions of the Bank's loan operations must be consistent with relevant policies of the European Union.

(i)

The Bank considers that access to information plays an essential role in the reduction of environmental and social risks, including human rights violations, linked to the projects it finances and has therefore established its transparency policy, the purpose of which is to enhance the accountability of the Bank’s group towards its stakeholders.

(j)

The Bank supports the implementation of international and European Union standards in the field of anti-money laundering and countering the financing of terrorism and promotes tax good governance standards. It has established policies and procedures to avoid the risk of misuse of its funds for purposes which are illegal or abusive in relation to applicable laws. The Bank’s group statement on tax fraud, tax evasion, tax avoidance, aggressive tax planning, money laundering and financing of terrorism is available on the Bank’s website and offers further guidance to the Bank’s contracting counterparties.1

(k)

The Bank has established an overarching policy framework that allows the Bank’s Group to focus on sustainable and inclusive development, committing to a just and fair transition and supporting the transition to economies and communities that are climate and disaster resilient, low carbon, environmentally sound and more resource efficient. The policy framework includes the EIB Group Environmental and Social Policy and the EIB Environmental and Social Standards. The EIB Group Environmental and Social Policy and the EIB Environmental and Social Standards are available on the Bank’s website and offers further guidance to the Bank’s contracting counterparties.

1 http://www.eib.org/about/compliance/tax-good-governance/index.htm?f=search&media=search NOW THEREFORE it is hereby agreed as follows:

INTERPRETATION AND DEFINITIONS

Interpretation

In this Contract:

(a)

references to "Articles", "Recitals", "Schedules" and "Annexes" are, save if explicitly stipulated otherwise, references respectively to articles of, and recitals, schedules and annexes to this Contract;

(b)

references to "law" or "laws" mean:

(i)

any applicable law and any applicable treaty, constitution, statute, legislation, decree, normative act, rule, regulation, judgement, order, writ, injunction, determination, award or other legislative or administrative measure or judicial or arbitral decision in any jurisdiction which is binding or applicable case law; and

(ii) EU Law;

(c)

references to "applicable law", "applicable laws" or "applicable jurisdiction" mean:

(i)

a law or jurisdiction applicable to the Borrower, its rights and/or obligations (in each case arising out of or in connection with this Contract), its capacity and/or assets and/or the Project; and/or, as applicable

(ii) a law or jurisdiction (including in each case the Bank’s Statute) applicable to the Bank, its rights, obligations, capacity and/or assets;

(d)

references to a provision of law or a treaty are references to that provision as amended or re-enacted;

(e)

references to any other agreement or instrument are references to that other agreement or instrument as amended, novated, supplemented, extended or restated;

(f)

words and expressions in plural shall include singular and vice versa; and

(g)

references to "month" mean a period starting on one day in a calendar month and ending on the numerically corresponding day in the next calendar month, except that and subject to the definition of Payment Date, Article 5.1 and Schedule B and unless provided otherwise in this Contract:

(i)

if the numerically corresponding day is not a Business Day, that period shall end on the next Business Day in that calendar month in which that period is to end if there is one, or if there is not, on the immediately preceding Business Day; and

(ii) if there is no numerically corresponding day in the calendar month in which that period is to end, that period shall end on the last Business Day in that calendar month; and

(h)

a reference in this Contract to a page or screen of an information service displaying a rate shall include:

(i)

any replacement page of that information service which displays that rate; and

(ii) the appropriate page of such other information service which displays that rate from time to time in place of that information service,

and, if such page or service ceases to be available, shall include any other page or service displaying that rate specified by the Bank.

Definitions

In this Contract:

"Accepted Tranche" means a Tranche in respect of which a Disbursement Offer has been duly accepted by the Borrower in accordance with its terms on or before the Disbursement Acceptance Deadline.

"Agreed Deferred Disbursement Date" has the meaning given to it in Article 1.5.A(2)(b).

"Allocation Procedure" has the meaning given to it in Article 1.9.

"Allocation Letter" has the meaning given to it in Article 1.9.

"Allocation Request" has the meaning given to it in Article 1.9.

"AML Directives" means (i) Directive (EU) lo. 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing amending Regulation (EU) lo 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC, as amended, supplemented and replaced from time to time and (ii) Directive 2018/843 of the European Parliament and of the Council of 19 June 2018 on anti-money laundering and terrorist financing as amended, supplemented or restated from time to time.

"Authorisation(s)" means an authorisation, permit, consent, approval, resolution, licence, exemption, filing, notarisation or registration.

"Authorised Signatory" means a person authorised to sign individually or jointly (as the case may be) Disbursement Acceptances on behalf of the Borrower and named in the most recent List of Authorised Signatories and Accounts received by the Bank prior to the receipt of the relevant Disbursement Acceptance.

"Business Day" means a day (other than a Saturday or Sunday) on which the Bank and commercial banks are open for general business in Luxembourg and in Belgrade.

"Cancelled Tranche" has the meaning given to it in Article 1.6.C(2).

"Change in the Beneficial Ownership" means a change in the ultimate ownership or control of an entity according to the definition of "beneficial owner" set out in article 3(6) of Directive 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing as modified and /or supplemented from time to time.

"Change-of-Law Event" has the meaning given to it in Article 4.3.A(3).

"Close Associate(s)" means "persons known to be close associates" as defined in the AML Directives.

"Contract" has the meaning given to it in Recital (f).

"Contract Number" means the Bank generated number identifying this Contract and indicated on the cover page of this Contract after the letters "FI N°".

"Credit" has the meaning given to it in Article 1.1.

"Date of Effectiveness" has the meaning given to it in Article 12.3.

"Declaration on Honour" means the "Declaration on Honour" under EFSD+ signed by the Borrower on 19 December 2025.

"Deferment Fee" means a fee calculated on the amount of an Accepted Tranche deferred or suspended at the rate of the higher of:

(a)

0.125% (12.5 basis points), per annum; and

(b)

the percentage rate by which:

(i)

the interest rate that would have been applicable to such Tranche had it been disbursed to the Borrower on the Scheduled Disbursement Date, exceeds

(ii) EURIBOR (one month rate) less 0.125% (12.5 basis points), unless such rate is less than zero in which case it shall be set at zero.

Such fee shall accrue from the Scheduled Disbursement Date to the Disbursement Date or, as the case may be, until the date of cancellation of the Accepted Tranche in accordance with this Contract.

"Disbursement Acceptance" means a copy of the Disbursement Offer duly countersigned by the Borrower in accordance with the List of Authorised Signatories and Accounts.

"Disbursement Acceptance Deadline" means the date and time of expiry of a Disbursement Offer, as specified therein.

"Disbursement Account" means, in respect of each Tranche, the bank account to which disbursements may be made under this Contract, as set out in the most recent List of Authorised Signatories and Accounts.

"Disbursement Date" means the date on which disbursement of a Tranche is made by the Bank.

"Disbursement Offer" means a letter substantially in the form set out in Schedule C.

"Dispute" has the meaning given to it in Article 11.2.

"Disruption Event" means either or both of:

(a)

a material disruption to those payment or communications systems or to those financial markets which are, in each case, required to operate in order for payments to be made in connection with this Contract; or

(b)

the occurrence of any other event which results in a disruption (of a technical or systems-related nature) to the treasury or payments operations of either the Bank or the Borrower, preventing that Party from:

(i)

performing its payment obligations under this Contract; or

(ii) communicating with the other Party,

and which disruption (in either such case as per (a) or (b) above) is not caused by, and is beyond the control of, the Party whose operations are disrupted.

"EFSD+" has the meaning given in Recital (c).

"EFSD+ DIW1" has the meaning given in Recital (c).

"EFSD+ DIW1 Guarantee" has the meaning given in Recital (c).

"EFSD+ DIW1 Guarantee Agreement" has the meaning given in Recital (c).

"EIB Environmental and Social Standards" means the EIB Environmental and Social Standards of 2022 which are published on the Bank’s website and which describe the environmental and social requirements that all EIB-financed projects must meet and the responsibilities of the various parties, including the Borrower.

"Environment" means the following:

(a)

fauna and flora, living organisms including the ecological systems;

(b)

land, soil, water (including marine and coastal waters), air, climate and the landscape (natural or man-made structures, whether above or below ground);

(c)

cultural heritage (natural, tangible and intangible);

(d)

the built environment; and

(e)

human health and wellbeing.

"Environmental and Social Impact Assessment Study" means a study or report as an outcome of the environmental and social impact assessment identifying and assessing the likely significant environmental and social impacts and/or risks associated with the proposed project and recommending measures to avoid, minimise and/or remedy any impacts and/or risks. This study is subject to public consultation with direct and indirect project stakeholders.

"Environmental and Social Documents" means the Environmental and Social Impact Assessment Study and environmental permits or screen-out decision from the competent Serbian authority, or any other document with equivalent effect that may be required according to Environmental Law.

"Environmental and Social Standards" means:

(a)

Environmental Laws and Social Laws applicable to the Project or the Borrower;

(b)

the EIB Environmental and Social Standards; and

(c)

the Environmental and Social Documents.

"Environmental or Social Approval" means any Authorisation required by an Environmental Law or a Social Law in connection with the construction or operation of the Project.

"Environmental or Social Claim" means any claim, proceeding, formal notice or investigation by any person in respect of any breach or alleged breach of any Environmental and Social Standards.

"Environmental Law" means:

(a)

EU law, including principles and standards save for any derogation accepted by the Bank for the purpose of this Contract based on any agreement between Republic of Serbia and the EU;

(b)

Serbian laws and regulations; and

(c)

international treaties and conventions signed and ratified by or otherwise applicable and binding on, the Republic of Serbia,

in each case of which a principal objective is the preservation, protection or improvement of the Environment.

"EU Law" means the acquis communautaire of the European Union as expressed through the Treaties of the European Union, the regulations, directives, delegated acts, implementing acts, and the case law of the Court of Justice of the European Union.

"EUR" or "euro" means the lawful currency of the Member States of the European Union, which adopt or have adopted it as their currency in accordance with the relevant provisions of the Treaty on European Union and the Treaty on the Functioning of the European Union.

"EURIBOR" has the meaning given to it in Schedule B.

"Event of Default" means any of the circumstances, events or occurrences specified in Article 10.1.

"Family Member(s)" has the meaning given to such term in the AML Directives.

"Final Availability Date" means the day falling 60 (sixty) months after the Date of Effectiveness and if such day is not a Relevant Business Day, then the preceding Relevant Business Day.

"Financing of Terrorism" means the provision or collection of funds, by any means, directly or indirectly, with the intention that they should be used or in the knowledge that they are to be used, in full or in part, in order to carry out any of the offences listed in the Directive (EU) 2017/541 of the European Parliament and of the Council of 15 March 2017 on combating terrorism and replacing Council Framework Decision 2002/475/JHA and amending Council Decision 2005/671/JHA (as amended, replaced or re-enacted from time to time).

"Financial Regulation" means Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union (recast) (OJ L 239, 26.9.2024, p. 1).

"Fixed Rate" means an annual interest rate determined by the Bank in accordance with the applicable principles from time to time laid down by the governing bodies of the Bank for loans made at a fixed rate of interest, denominated in the currency of the Tranche and bearing equivalent terms for the repayment of capital and the payment of interest. Such rate shall not be of negative value.

"Fixed Rate Tranche" means a Tranche on which the Fixed Rate is applied.

"Floating Rate" means a fixed-spread floating annual interest rate, determined by the Bank for each successive Floating Rate Reference Period equal to the EURIBOR plus the Spread.

If the Floating Rate for any Floating Rate Reference Period is calculated to be below zero, it will be set at zero.

"Floating Rate Reference Period" means each period from one Payment Date to the next relevant Payment Date; the first Floating Rate Reference Period shall commence on the Disbursement Date of the Tranche and end on the first Payment Date, except if such period is 15 (fifteen) days or less, in which case the first Floating Rate Reference Period shall end on the next (second) Payment Date following the Disbursement Date of the Tranche and the applicable EURIBOR for that period shall be determined pursuant to Schedule B – Definition of EURIBOR.

"Floating Rate Tranche" means a Tranche on which the Floating Rate is applied.

"Framework Agreement" has the meaning given in Recital (d).

"GAAP" means generally accepted accounting principles in the Republic of Serbia, including IFRS.

"Guide to Procurement" means the Guide to Procurement published on EIB’s website2 that informs the promoters of projects financed in whole or in part by the EIB of the arrangements to be made for procuring works, goods and services required for the Project.

"IFRS" means international accounting standards within the meaning of IAS Regulation 1606/2002 to the extent applicable to the relevant financial statements.

"Illegality Event" has the meaning given to it in Article 4.3.A(4).

"ILO" means the International Labour Organisation.

"ILO Standards" means any treaty, convention or covenant of the ILO signed and ratified by or otherwise applicable and binding on the Republic of Serbia, and the Core Labour Standards (as defined in the ILO Declaration on Fundamental Principles and Rights at Work).

"Implementing Entity" has the meaning given to it in Recital (a).

"Indemnifiable Prepayment Event" means a Prepayment Event other than the Non-EIB Financing Prepayment Event or Illegality Event.

"Interest Revision/Conversion" means the determination of new financial conditions relative to the interest rate, specifically the same interest rate basis ("revision") or a different interest rate basis ("conversion") which can be offered for the remaining term of a Tranche or until the next Interest Revision/Conversion Date, if any.

"Interest Revision/Conversion Date" means the date, which shall be a Payment Date, specified by the Bank in the Disbursement Offer.

"Interest Revision/Conversion Proposal" means a proposal made by the Bank under Schedule D.

"Interest Revision/Conversion Request" means a written notice from the Borrower, delivered at least 75 (seventy-five) days before an Interest Revision/Conversion Date, requesting the Bank to submit to it an Interest Revision/Conversion Proposal. The Interest Revision/Conversion Request shall also specify:

(a)

the Payment Dates chosen in accordance with the provisions of Article 3.1;

(b)

the amount of the Tranche for which the Interest Revision/Conversion shall apply; and

(c)

any further Interest Revision/Conversion Date chosen in accordance with Article 3.1.

"IPA III Regulation" means Regulation (EU) 2021/1529 of the European Parliament and of the Council of 15 September 2021 establishing the Instrument for Pre-Accession assistance (IPA III).

2 https://www.eib.org/en/publications/20240132-guide-to-procurement-for-projects-financed-by-the-eib; Please note that the reference is to the version of the Guide to Procurement in force at the time when the relevant procurement process of a contract that is eligible for financing under this Contract begins.

"List of Authorised Signatories and Accounts" means a list, in form and substance satisfactory to the Bank, setting out:

(a)

the Authorised Signatories, accompanied by evidence of signing authority of the persons named on the list and specifying if they have individual or joint signing authority;

(b)

the specimen signatures of such persons;

(c)

the bank account(s) to which disbursements may be made under this Contract (specified by IBAN code if the country is included in the IBAN Registry published by SWIFT, or in the appropriate account format in line with the local banking practice), BIC/SWIFT code of the bank and the name of the bank account(s) beneficiary, together with evidence that such account(s) have been opened in the name of the beneficiary; and

(d)

the bank account(s) from which payments under this Contract will be made by the Borrower (specified by IBAN code if the country is included in the IBAN Registry published by SWIFT, or in the appropriate account format in line with the local banking practice), BIC/SWIFT code of the bank and the name of the bank account(s) beneficiary, together with evidence that such account(s) have been opened in the name of the beneficiary.

"Live Pricing Tranche" has the meaning given to it in Article 1.2.B (b).

"Loan" means the aggregate of the amounts disbursed from time to time by the Bank under this Contract.

"Loan Outstanding" means the aggregate of the amounts disbursed from time to time by the Bank under this Contract that remains outstanding.

"Market Disruption Event" means any of the following circumstances:

(a)

there are, in the reasonable opinion of the Bank, events or circumstances adversely affecting the Bank’s access to its sources of funding;

(b)

in the opinion of the Bank, funds are not available from the Bank's ordinary sources of funding in order to adequately fund a Tranche in the relevant currency and/or for the relevant maturity and/or in relation to the reimbursement profile of such Tranche; or

(c)

in relation to a Floating Rate Tranche:

(i)

the cost to the Bank of obtaining funds from its sources of funding, as determined by the Bank, for a period equal to the Floating Rate Reference Period of such Tranche (i.e. in the money market) would be in excess of the applicable EURIBOR; or

(ii) the Bank determines that adequate and fair means do not exist for ascertaining the applicable EURIBOR for the relevant currency of such Tranche.

"Material Adverse Change" means, any event or change of condition, which, in the opinion of the Bank has a material adverse effect on:

(a)

the ability of the Borrower to perform its obligations under this Contract; or

(b)

the financial condition or prospects of the Borrower.

"Maturity Date" means the last Repayment Date of a Tranche specified pursuant to Article 4.1.A(b)(iv) or the sole Repayment Date of a Tranche specified pursuant to Article 4.1.B.

"MoCTI" means the Ministry of Construction, Transport and Infrastructure of the Republic of Serbia or its legal successor.

"Money Laundering" means:

(a)

the conversion or transfer of property, knowing that such property is derived from criminal activity or from an act of participation in such activity, for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in the commission of such activity to evade the legal consequences of his action;

(b)

the concealment or disguise of the true nature, source, location, disposition, movement, rights with respect to, or ownership of property, knowing that such property is derived from criminal activity or from an act of participation in such activity;

(c)

the acquisition, possession or use of property, knowing, at the time of receipt, that such property was derived from criminal activity or from an act of participation in such activity; or

(d)

participation in, association to commit, attempts to commit and aiding, abetting, facilitating and counselling the commission of any of the actions mentioned in the foregoing points.

"NDICI-GE Regulation" means Regulation (EU) 2021/947 of the European Parliament and of the Council of 9 June 2021 establishing the Neighbourhood, Development and International Cooperation Instrument – Global Europe.

"Non-EIB Financing" has the meaning given to it in Article 4.3.A(2).

"Non-EIB Financing Prepayment Event" has the meaning given to it in Article 4.3.A(2).

"Payment Account" means the bank account from which payments under this Contract will be made by the Borrower, as set out in the most recent List of Authorised Signatories and Accounts.

"Payment Date" means the annual, semi-annual or quarterly dates specified in the Disbursement Offer until and including the Interest Revision/Conversion Date, if any, or the Maturity Date, save that, in case any such date is not a Relevant Business Day, it means:

(a)

for a Fixed Rate Tranche either:

(i)

the following Relevant Business Day, without adjustment to the interest due under Article 3.1; or

(ii) the preceding Relevant Business Day with adjustment (but only to the amount of interest due under Article 3.1 that accrued over the last interest period), in case repayment of principal is made in a single instalment in accordance with Schedule D point C or Article 4.1.B; and

(b)

for a Floating Rate Tranche, the following Relevant Business Day in that month, or, failing that, the nearest preceding Relevant Business Day, in all cases with corresponding adjustment to the interest due under Article 3.1.

"PIU" has the meaning given to it in Recital (a).

"Prepayment Amount" means the amount of a Tranche to be prepaid by the Borrower in accordance with Article 4.2.A or Article 4.3.A, as applicable.

"Prepayment Date" means the date, as requested by the Borrower and agreed by the Bank or indicated by the Bank (as applicable) on which the Borrower shall effect prepayment of a Prepayment Amount.

"Prepayment Event" means any of the events described in Article 4.3.A.

"Prepayment Indemnity" means in respect of any principal amount to be prepaid, the amount communicated by the Bank to the Borrower as the present value (calculated as of the Prepayment Date) of the excess, if any, of:

(a)

the interest that would accrue thereafter on the Prepayment Amount over the period from the Prepayment Date to the Interest Revision/Conversion Date, if any, or the Maturity Date, if it were not prepaid; over

(b)

the interest that would so accrue over that period, if it were calculated at the Redeployment Rate, less 0.19% (nineteen basis points).

The said present value shall be calculated at a discount rate equal to the Redeployment Rate, applied as of each relevant Payment Date.

"Prepayment Notice" means a written notice from the Bank to the Borrower in respect of prepayment of a Fixed Rate Tranche and/or a Floating Rate Tranche in accordance with Article 4.2.C, specifying the Prepayment Amount, the Prepayment Date, the accrued interest due, the fee under Article 4.2.D, if any, and in respect of Fixed Rate Tranches only, the Prepayment Indemnity, if any, due on the Prepayment Amount.

"Prepayment Offer" means a written notice from the Bank to the Borrower in accordance with Article 4.2.C.

"Prepayment Request" means a written request from the Borrower to the Bank to prepay all or part of the Loan Outstanding, in accordance with Article 4.2.A.

"Prohibited Conduct" means any Financing of Terrorism, Money Laundering or Prohibited Practice.

"Prohibited Practice" means any:

(a)

Coercive Practice, meaning the impairing or harming, or threatening to impair or harm, directly or indirectly, any party or the property of a party to influence improperly the actions of a party;

(b)

Collusive Practice, meaning an arrangement between two or more parties designed to achieve an improper purpose, including to influence improperly the actions of another party;

(c)

Corrupt Practice, meaning the offering, giving, receiving or soliciting, directly or indirectly, of anything of value by a party to influence improperly the actions of another party;

(d)

Fraudulent Practice, meaning any act or omission, including a misrepresentation, that knowingly or recklessly misleads, or attempts to mislead, a party in order to obtain a financial (including, for the avoidance of taxation related) or other benefit or to avoid an obligation;

(e)

Obstructive Practice, meaning in relation to an investigation into a Coercive, Collusive, Corrupt or Fraudulent Practice in connection with this Loan or the Project, (a) destroying, falsifying, altering or concealing of evidence material to the investigation or making false statements to investigators, with the intent to impede the investigation;

(b)

threatening, harassing or intimidating any party to prevent it from disclosing its knowledge of matters relevant to the investigation or from pursuing the investigation, or (c) acts intending to impede the exercise of the EIB Group’s contractual rights of audit or inspection or access to information;

(f)

Tax Crime, meaning all offences, including tax crimes relating to direct taxes and indirect taxes and as defined in the national law of the Republic of Serbia, which are punishable by deprivation of liberty or a detention order for a maximum of more than one year;

(g)

Misuse of EIB Group Resources and Assets, meaning any illegal activity committed in the use of the EIB Group’s resources or assets (including the funds lent under this Contract) knowingly or recklessly; or

(h)

any other illegal activity that may affect the financial interests of the European Union, according to the applicable laws.

"Project" has the meaning given to it in Recital (a).

"Project Cost Reduction Event" has the meaning given to it in Article 4.3.A(1).

"Promoter" has the meaning given to it in Recital (a).

"Qualifying Expenditure" means expenditure (net of taxes and duties payable by the Borrower and/or the Promoter) incurred by the Borrower or the Implementing Entity for the Project, in respect of works, goods and services relating to items specified in the Technical Description and in Allocation Letter as eligible for financing under the Credit (for the avoidance of doubt excluding rights of way which shall be financed by the Borrower), which have been the object of contract or contracts executed on terms satisfactory to the Bank, having regard to the most recent edition of the Bank's Guide to Procurement. For the avoidance of doubt, the payment of value added tax on sales of goods and services and import of goods and services, costs of customs duties and other import duties, taxes and other impositions occurring in the execution of implementation of the Project do not constitute Qualifying Expenditure for the purposes of this Contract.

"Redeployment Rate" means the fixed annual rate determined by the Bank, being a rate which the Bank would apply on the day of the indemnity calculation to a loan that has the same currency, the same terms for the payment of interest and the same repayment profile to the Interest Revision/Conversion Date, if any, or the Maturity Date as the Tranche in respect of which a prepayment or cancellation is proposed or requested to be made. Such rate shall not be of negative value.

"Relevant Business Day" means a day on which real time gross settlement system operated by the Eurosystem (T2), or any successor system, is open for settlement of payments in EUR.

"Relevant Party" has the meaning given to it in Article 8.3.

"Relevant Person" means:

(a)

with respect to the Borrower, any ministries, other central executive government bodies or other governmental sub-divisions or any of their officials or representatives, or any other person acting for any of them, on its behalf, or under its control, having the authority to manage and/or supervise the Credit, the Loan, the Project; and

(b)

with respect to the Implementing Entity, any member of its management bodies, or any person acting for it, on its behalf, or under its control, having the power to give material directions and/or exercise control with respect to the Credit, the Loan or the Project.

"Repayment Date" shall mean each of the Payment Dates specified for the repayment of the principal of a Tranche in the Disbursement Offer, in accordance with Article 4.1.

"Requested Deferred Disbursement Date" has the meaning given to it in Article 1.5.A(1)(a)(ii).

"Sanctioned Person" means any individual or entity (for the avoidance of doubt, the term entity includes, but is not limited to, any government, group or terrorist organisation) who is a designated target of, or who is otherwise a subject of, Sanctions (including, without limitation, as a result of being owned or otherwise controlled, directly or indirectly, by any individual or entity, who is a designated target of, or who is otherwise a subject of, Sanctions).

"Sanctions" means the economic or financial sanctions laws, regulations, trade embargoes or other restrictive measures (including, in particular, but not limited to, measures in relation to the financing of terrorism) enacted, administered, implemented or enforced from time to time by any of the following:

(a)

the United Nations including, inter alia, the United Nations Security Council;

(b)

the European Union including, inter alia, the Council of the European Union and the European Commission, and any other competent bodies/institutions or agencies of the European Union;

(c)

the government of the United States of America, and any department, division, agency, or office thereof, including, inter alia, the Office of Foreign Asset Control (OFAC) of the United States Department of the Treasury, the United States Department of State and/or the United States Department of Commerce; and

(d)

the government of the United Kingdom, and any department, division, agency, office or authority including, inter alia, the Office of Financial Sanctions Implementation of His Majesty’s Treasury and the Department for International Trade of the United Kingdom.

"Scheduled Disbursement Date" means the date on which a Tranche is scheduled to be disbursed in accordance with Article 1.2.B, which shall be a Relevant Business Day falling at least 10 (ten) days after the date of the Disbursement Offer or the successful live pricing call, and on or before the Final Availability Date.

"Social Law" means:

(a)

EU law, including principles and standards save for any derogation accepted by the Bank for the purpose of this Contract based on any agreement between the Republic of Serbia and the EU;

(b)

laws and regulations of the Republic of Serbia;

(c)

international treaties and conventions signed and ratified by or otherwise applicable and binding on the Republic of Serbia;

(d)

any ILO Standards;

in each case of which a principal objective is the protection or improvement of Social Matters; and

(e)

any United Nations treaty, convention or covenant on human rights signed and ratified by or otherwise applicable and binding on the Republic of Serbia.

"Social Matters" means all, or any of, the following:

(a)

labour and working conditions;

(b)

occupational health and safety;

(c)

rights and interests of vulnerable groups;

(d)

rights and interests of indigenous peoples;

(e)

gender equality;

(f)

public health, safety and security;

(g)

avoidance of forced evictions and alleviation of hardship arising from involuntary resettlement; and

(h)

stakeholder engagement.

"Spread" means the fixed spread (being of either positive or negative value) to the EURIBOR, as determined by the Bank and notified to the Borrower in the relevant Disbursement Offer, or in the Interest Revision/Conversion Proposal.

"Sub-Project" has meaning given to it in Recital (a)

"Tax" means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same).

"Technical Description" has the meaning given to it in Recital (a).

"Tranche" means each disbursement made or to be made under this Contract. In case no Disbursement Acceptance has been received, Tranche shall mean a Live Pricing Tranche or a Tranche as offered under Article 1.2.B.

ARTICLE 1Čl. 1.1–1.10

Credit and Disbursements

Član1.1

Amount of Credit

By this Contract the Bank establishes in favour of the Borrower, and the Borrower accepts, a credit in an amount of EUR 150,000,000.00 (one hundred fifty million euros) for the financing of the Project (the "Credit").

Član1.2

Disbursement procedure

Član1.2.A

Tranches

The Bank shall disburse the Credit in up to 15 (fifteen) Tranches. The amount (i) of a first Tranche shall be in a minimum amount of EUR 2,000,000.00 (two million euros) and (ii) of each following Tranche shall be in a minimum amount of EUR 10,000,000.00 (ten million euros) or (if less) the entire undrawn balance of the Credit.

Član1.2.B

Disbursement Offer

Upon request by the Borrower and subject to

Article 1.4.A

, provided that no event mentioned in

Article 1.6.B

has occurred and is continuing, the Bank shall after the receipt of such request, in its own discretion either:

send to the Borrower within 5 (five) Business Days after the receipt of such request a Disbursement Offer for the disbursement of a Tranche. The Disbursement Offer shall include information as set out in Schedule C; or

notify the Borrower that the terms of the disbursement of the requested Tranche shall be agreed during a recorded live pricing call to be held between the Bank and the Borrower (the "Live Pricing Tranche"). In such case, subject to Articles 1.4.B and 1.4.C, and following a successful live pricing call between the Bank and the Borrower during which the Parties agree on the terms of the disbursement of the requested Tranche, the Bank shall send to the Borrower, on the same Business Day and after such successful pricing call, a Disbursement Offer reflecting the terms agreed during the call, which shall include information as set out in Schedule C. The Borrower shall confirm the Live Pricing Tranche as an Accepted Tranche and accept a Disbursement Offer by delivering a Disbursement Acceptance to the Bank by no later than the Disbursement Acceptance Deadline pursuant to paragraph (a) of Article1.2.C. The latest time for conclusion of a successful live pricing process is 5 (five) Business Days before the Final Availability Date. The Parties understand that: (i) in case the Borrower does not agree to the live pricing call being arranged, the Borrower will not receive any Disbursement Offer and (ii) the Borrower is at liberty to reject the terms offered during the live pricing call.

The latest time for receipt by the Bank of such Borrower’s request under this

Article 1.2.B

is 15 (fifteen) Business Days before the Final Availability Date.

The Parties agree that a Disbursement Offer may be issued by the Bank as an unsigned document and in such case shall be considered validly executed and delivered on behalf of the Bank provided that such Disbursement Offer is sent by email from the following e-mail address EIB-FirmDisbursementOffer@eib.org to the e-mail address of the Borrower indicated in

Article 12.1.B

Član1.2.C

Disbursement Acceptance

The Borrower may accept a Disbursement Offer by delivering a Disbursement Acceptance to the Bank no later than the Disbursement Acceptance Deadline, to be followed by registered letter in accordance with

Article 12.1.A

. The Disbursement Acceptance shall be signed by an Authorised Signatory with individual representation right or two or more Authorised Signatories with joint representation right and shall specify the Disbursement Account to which the disbursement of the Tranche should be made in accordance with

Article 1.2.D

If a Disbursement Offer is duly accepted by the Borrower in accordance with its terms on or before the Disbursement Acceptance Deadline, the Bank shall make the Accepted Tranche available to the Borrower in accordance with the relevant Disbursement Offer and subject to the terms and conditions of this Contract.

For Tranches other than the Live Pricing Tranches, the Borrower shall be deemed to have refused any Disbursement Offer which has not been duly accepted in accordance with its terms on or before the Disbursement Acceptance Deadline.

The Bank may rely on the information set out in the most recent List of Authorised Signatories and Accounts provided to the Bank by the Borrower. If a Disbursement Acceptance is signed by a person defined as Authorised Signatory under the most recent List of Authorised Signatories and Accounts provided to the Bank by the Borrower, the Bank may assume that such person has the power to sign and deliver in the name and on behalf of the Borrower such Disbursement Acceptance.

Član1.2.D

Disbursement Account

Disbursement shall be made to the Disbursement Account specified in the relevant Disbursement Acceptance, provided that such Disbursement Account is acceptable to the Bank.

Notwithstanding

Article 5.2(e)

, the Borrower acknowledges that payments to a Disbursement Account notified by the Borrower shall constitute disbursements under this Contract as if they had been made to the Borrower's own bank account.

Only one Disbursement Account may be specified for each Tranche.

Član1.3

Currency of disbursement

The Bank shall disburse each Tranche in EUR.

Član1.4

Conditions of disbursement

Član1.4.A

Condition precedent to the first request for Disbursement Offer

The Bank shall have received from the Borrower in form and substance satisfactory to the Bank:

evidence that the execution of this Contract by the Borrower has been duly authorised and that the person or persons signing this Contract on behalf of the Borrower is/are duly authorised to do so together with the specimen signature of each such person or persons;

at least 2 (two) originals of this Contract duly executed by all Parties; and

the List of Authorised Signatories and Accounts,

prior to requesting a Disbursement Offer under

Article 1.2.B

by the Borrower. Any request for a Disbursement Offer made by the Borrower without the above documents having been received by the Bank and to its satisfaction shall be deemed not made.

Član1.4.B

First Tranche

The disbursement of the first Tranche under

Article 1.2

is conditional upon receipt by the Bank, in form and substance satisfactory to it, on or before the date falling 6 (six) Business Days before the Scheduled Disbursement Date (and, in the case of deferment under

, the Requested Deferred Disbursement Date or the Agreed Deferred Disbursement Date, respectively) for the proposed Tranche, of the following documents or evidence:

evidence that the Borrower has obtained all necessary Authorisations, required in connection with this Contract and the Project;

a legal opinion issued in the English language by the Ministry of Justice of the Borrower confirming, inter alia (i) the authority of persons signing this Contract on behalf of the Borrower; and (ii) that this contract has been duly executed by the Borrower and creates valid, binding and enforceable obligations on the Borrower according to its terms; (iii) the valid choice of laws of the Grand Duchy of Luxembourg law under this Contract, and (iv) the recognition and enforcement of judgments of Court of Justice of the European Union in any proceedings taken in the Republic of Serbia in relation to this Contract;

the Borrower shall have taken all action necessary to exempt from taxation for all payments of principal, interest and other sums due hereunder and to permit the payment of all such sums gross without deduction of tax at source shall have been taken;

any necessary exchange control consents shall have been obtained to permit receipt of disbursements hereunder, repayment of the same and payment of interest and all other amounts due hereunder; such consents must extend to the opening and maintenance of the accounts to which disbursement of the Credit is directed; and

evidence that the cooperation agreement for consultancy services to support the Project preparation has been signed, to the satisfaction of the Bank.

Član1.4.C

All Tranches

The disbursement of each Tranche under

Article 1.2

, including the first, is subject to the following conditions:

that the Bank has received, in form and substance satisfactory to it, on or before the date falling 6 (six) Business Days before the Scheduled Disbursement Date (and, in the case of deferment under

, the Requested Deferred Disbursement Date or the Agreed Deferred Disbursement Date, respectively) for the proposed Tranche, of the following documents or evidence:

(i)

a certificate from the Borrower in the form of Schedule E signed by an authorised representative of the Borrower and dated no earlier than the date falling 15 (fifteen) Business Days before the Scheduled Disbursement Date (and, in the case of deferment under

, the Requested Deferred Disbursement Date or the Agreed Deferred Disbursement Date, respectively);

(ii)

that the Bank is satisfied that on the date of the relevant Disbursement Offer and the Disbursement Date for the proposed Tranche the Framework Agreement is legal, valid, binding and enforceable and that no event or circumstance has occurred which could, in the opinion of the Bank, adversely affect the legal, valid, binding and enforceable nature of the Framework Agreement;

(iii)

evidence that, in aggregate the amounts of the previously disbursed Tranches and the amount to be disbursed under the expected disbursement does not exceed the allocated amount approved by the Bank under the Allocation Letters;

(iv)

except for the first Tranche, evidence that an amount equal to at least 50% (fifty per cent) of all previously disbursed amounts under the Contract have effectively been paid out towards any expenditure incurred with respect to the allocated Sub-Project(s);

(v)

a copy of any other authorisation or other document, opinion or assurance which the Bank has notified the Borrower is necessary or desirable in connection with the entry into and performance of, and the transactions contemplated by, this Contract or the legality, validity, binding effect or enforceability of the same;

that on the Scheduled Disbursement Date (and, in the case of deferment under

, on the Requested Deferred Disbursement Date or the Agreed Deferred Disbursement Date, respectively) for the proposed Tranche:

(i)

the representations and warranties which are repeated pursuant to

Article 6.12

are correct in all respects; and

(ii)

no event or circumstance which constitutes or would with the passage of time or the giving of notice or the making of any determination under this Contract (or any combination of the foregoing) constitute:

(1)

an Event of Default; or

(2)

a Prepayment Event

has occurred and is continuing unremedied or unwaived or would result from the disbursement of the proposed Tranche.

in respect of a Live Pricing Tranche, that a Disbursement Acceptance duly countersigned by the Borrower has been delivered to the Bank within the deadline specified therein, pursuant to

Article 1.2.B(b)

Član1.5

Deferment of disbursement

Član1.5.A

Grounds for deferment

1.5.A(1) BORROWER'S REQUEST

The Borrower may send a written request to the Bank requesting the deferral of the disbursement of an Accepted Tranche. The written request must be received by the Bank at least 5 (five) Business Days before the Scheduled Disbursement Date of the Accepted Tranche and specify:

(i)

whether the Borrower would like to defer the disbursement in whole or in part, and if in part, the amount to be deferred; and

(ii)

the date until which the Borrower would like to defer a disbursement of the

above amount (the "Requested Deferred Disbursement Date"), which must be a date falling not later than:

6 (six) months from its Scheduled Disbursement Date;

(2)

30 (thirty) days prior to the first Repayment Date; and

(3)

the Final Availability Date.

Upon receipt of such a written request, the Bank shall defer the disbursement of the relevant amount until the Requested Deferred Disbursement Date.

1.5.A(2) FAILURE TO SATISFY CONDITIONS TO DISBURSEMENT

The disbursement of an Accepted Tranche shall be deferred if any condition for disbursement of such Accepted Tranche referred to in

Article 1.4

is not fulfilled both:

(i)

at the date specified for fulfilment of such condition in

Article 1.4

; and

(ii)

at its Scheduled Disbursement Date (or, where the Scheduled Disbursement Date has been deferred previously, the date expected for disbursement).

The Bank and the Borrower shall agree the date until which the disbursement of such Accepted Tranche shall be deferred (the "Agreed Deferred Disbursement Date"), which must be a date falling:

(i)

not earlier than 6 (six) Business Days following the fulfilment of all conditions of disbursement; and

(ii)

not later than the Final Availability Date.

Without prejudice to the Bank’s right to suspend and/or cancel the undisbursed portion of the Credit in whole or in part pursuant to

Article 1.6.B

, the Bank shall defer disbursement of such Accepted Tranche until the Agreed Deferred Disbursement Date. 1.5.A(3) DEFERMENT FEE

If disbursement of an Accepted Tranche is deferred pursuant to paragraphs 1.5.A(1) or 1.5.A(2) above, the Borrower shall pay the Deferment Fee.

Član1.5.B

Cancellation of a disbursement deferred by 6 (six) months

If a disbursement has been deferred by more than 6 (six) months in aggregate pursuant to

Article 1.5.A

, the Bank may notify the Borrower in writing that such disbursement shall be cancelled and such cancellation shall take effect on the date of such written notification. The amount of the disbursement which is cancelled by the Bank pursuant to this

Article 1.5.B

shall remain available for disbursement under

Article 1.2

Član1.6

Cancellation and suspension

Član1.6.A

Borrower’s right to cancel

The Borrower may send a written notice to the Bank requesting a cancellation of the undisbursed Credit or a portion thereof.

In its written notice, the Borrower:

(i)

must specify whether the Credit shall be cancelled in whole or in part and, if in part, the amount of the Credit to be cancelled; and

(ii)

must not request any cancellation of an Accepted Tranche, which has a Scheduled Disbursement Date falling within 5 (five) Business Days of the date of such written notice.

Upon receipt of such written notice, the Bank shall cancel the requested portion of the Credit with immediate effect. If requested by the Borrower in writing, the Bank shall issue a confirmation of such cancellation.

Član1.6.B

Bank’s right to suspend and cancel

At any time upon the occurrence of the following events, the Bank may notify the Borrower in writing that the undisbursed portion of the Credit shall be suspended and/or (except upon the occurrence of a Market Disruption Event) cancelled in whole or in part:

(i)

a Prepayment Event;

(ii)

an Event of Default;

(iii)

an event or circumstance which would with the passage of time or the giving of notice or the making of any determination under this Contract (or any combination of the foregoing) constitute a Prepayment Event or an Event of Default;

(iv)

a Material Adverse Change; or

(v)

a Market Disruption Event provided the Bank has not received a Disbursement Acceptance.

On the date of such written notification from the Bank the relevant portion of the Credit shall be suspended and/or cancelled with immediate effect. Any suspension shall continue until the Bank ends the suspension or cancels the suspended amount.

Član1.6.C

Indemnity for suspension and cancellation of a Tranche

1.6.C(1) SUSPENSION

If the Bank suspends an Accepted Tranche upon the occurrence of an Indemnifiable Prepayment Event or an Event of Default or of an event or circumstance which would, with the passage of time or the giving of notice or the making of any determination under this Contract (or any combination of the foregoing) constitute an Indemnifiable Prepayment Event or an Event of Default or upon the occurrence of a Material Adverse Change, the Borrower shall pay to the Bank the Deferment Fee calculated on the amount of such Accepted Tranche. 1.6.C(2) CANCELLATION

If an Accepted Tranche which is a Fixed Rate Tranche (the "Cancelled Tranche") is cancelled:

(i)

by the Borrower pursuant to

Article 1.6.A

; or

(ii)

by the Bank upon an Indemnifiable Prepayment Event or an event or circumstance which would, with the passage of time or the giving of notice or the making of any determination under this Contract (or any combination of the foregoing) constitute an Indemnifiable Prepayment Event or upon the occurrence of a Material Adverse Change or pursuant to

Article 1.5.B

the Borrower shall pay to the Bank an indemnity on such Cancelled Tranche.

Such indemnity shall be:

(i)

calculated assuming that the Cancelled Tranche had been disbursed and repaid on the same Scheduled Disbursement Date or, to the extent the disbursement of the Tranche is currently deferred or suspended, on the date of the cancellation notice; and

(ii)

in the amount communicated by the Bank to the Borrower as the present value (calculated as of the date of cancellation) of the excess, if any, of:

(1)

the interest that would accrue thereafter on the Cancelled Tranche over the period from the date of cancellation pursuant to this Article 1.6.C(2), to the Interest Revision/Conversion Date, if any, or the Maturity Date, if it were not cancelled; over

(2)

the interest that would so accrue over that period, if it were calculated at the Redeployment Rate, less 0.19% (nineteen basis points).

The said present value shall be calculated at a discount rate equal to the Redeployment Rate applied as of each relevant Payment Date of the applicable Tranche.

If the Bank cancels any Accepted Tranche upon the occurrence of an Event of Default, the Borrower shall indemnify the Bank in accordance with

Article 10.3

Član1.7

Cancellation after expiry of the Credit

On the day following the Final Availability Date, unless otherwise specifically notified in writing by the Bank to the Borrower, any part of the Credit in respect of which no Disbursement Acceptance has been received in accordance with

Article 1.2.C

shall be automatically cancelled, without any further notice from the Bank to the Borrower and without any liability arising on the part of either Party. If requested by the Borrower in writing, the Bank shall issue a confirmation of such cancellation.

Član1.8

Sums due under Articles 1.5 and 1.6

Sums due under Articles 1.5 and 1.6 shall be payable:

in EUR; and

within 15 (fifteen) days of the Borrower’s receipt of the Bank’s demand or within any longer period specified in the Bank’s demand.

Član1.9

Allocation Procedure

Član1.9.A

Allocation Request

Between the period of the Date of Effectiveness and 2 (two) months before the Final Availability Date (the "Allocation Period"), the Borrower (through the Promoter and/or Implementing Entity) shall submit to the Bank one or more request(s) for allocation prepared by it (through the Promoter and/or Implementing Entity) in respect of which the Borrower (through the Implementing Entity) seeks financing under this Contract

(the "Allocation Request").

Each Allocation Request shall be supported by a project fiche in the form of the tables set out in the Schedule A of this Contract, containing the information specified therein, as well as any additional relevant information required by the Bank.

The Loan may solely be allocated to Sub-Projects identified as eligible for financing in the Technical Description under this Contract. In order for a Sub-Project to qualify for financing hereunder, the Borrower must (and must ensure that the Implementing Entity must) comply with the allocation procedure under this

Article 1.9

and in the Technical Description.

The Loan shall be allocated to Sub-Projects, which are agreed with the Bank in accordance with the principles of the Bank framework loan allocation review procedure set out in the Technical Description, provided that the Bank is satisfied that there is sufficient information available on such Sub-Projects.

The Bank's funds shall be allocated to the eligible Sub-Projects with procedures modulated according to the Sub-Projects size and in line with the Bank's applicable procedures for framework loans, as set out in the Technical Description.

The Borrower (through the Promoter and/or Implementing Entity) shall ensure that, together with each Allocation Request, a procurement plan for a Sub-Project is included in that Allocation Request in form and substance satisfactory to the Bank.

Član1.9.B

Allocation Letter

The Bank shall have full discretion whether or not to approve the Allocation Request so submitted following such examination of the Sub-Projects as it deems necessary and shall, in the event of confirmation/approval, issue an Allocation Letter (the "Allocation Letter"), informing the Borrower (through the Promoter and the Implementing Entity), of its confirmation/approval of the Sub-Projects submitted and of the amount in EUR allocated to such Sub-Project. In the event the Bank does not approve a submitted Allocation Request, the Bank shall inform the Borrower (through the Implementing Entity and the Promoter).

The Bank may by notice to the Borrower (through the Promoter and the Implementing Entity), amend the allocation procedure to bring it into line with the Bank’s policies or reflect the results of the review of the implementation capacity and performance of the Project. In such case, the Bank shall inform the Borrower (through the Promoter and the Implementing Entity), thereof and the Borrower (through the Promoter and the Implementing Entity) shall promptly adapt its internal allocation procedures accordingly.

Član1.10

Reallocation Procedure

Prior to the date following 6 (six) months after the Allocation Period, the Borrower (through the Promoter or the Implementing Entity) may, by written request (prepared by it or by the Implementing Entity) to the Bank, including the reasons for the request, propose to reallocate in accordance with the provisions of this

Article 1.10

any part of the Loan Outstanding which has been allocated but not spent on a Sub-Project, or not made available in full, directly or indirectly, by the Borrower and/or the Implementing Entity.

The Bank may, in its discretion, accept the Borrower's (through the Promoter or Implementing Entity) proposal for reallocation and reallocate any portion of the Loan Outstanding in accordance with the provisions of

Article 1.10

and shall inform the Borrower and the Implementing Entity, as the case may be, thereof by e-mail within 30 (thirty) days after the receipt of the Borrower's (through the Promoter or the Implementing Entity) Sub-Project fiche along with the proposal for reallocation. Reallocated amounts will be included in the Allocation Letter indicated in

Article 1.9.B

If the reallocation is not possible or possible only in part, the Borrower, after receiving the notice from the Bank, shall in accordance with

Article 4.3

, prepay immediately to the Bank the part of the Loan Outstanding which has been disbursed by the Bank subject to the original allocation.

Upon the Bank’s written request, the Borrower (through the Promoter or the Implementing Entity), shall propose to reallocate any part of the Loan Outstanding which has been allocated, in accordance with the procedures described in

Article 1.9

, in relation to a Sub-Project if such Sub-Project, in the opinion of the Bank, is ineligible for financing by the Bank under the Bank’s Statute, policies or guidelines or under Article 309 of the Treaty on the Functioning of the European Union or if the Sub- Project no longer complies with the requirements of this Contract. If within the timeframe provided for in the Bank’s written request the Borrower (through the Promoter or the Implementing Entity) fails to replace such Sub-Project, the Borrower shall repay all or part of the Loan Outstanding in accordance with

Article 4.3

of this Contract.

ARTICLE 2Čl. 2.1–2.3

The Loan

Član2.1

Amount of Loan

The Loan shall comprise the aggregate amount of Tranches disbursed by the Bank under the Credit, as confirmed by the Bank pursuant to

Article 2.3

Član2.2

Currency of payments

The Borrower shall pay interest, principal and other charges payable in respect of each Tranche in the currency in which such Tranche was disbursed.

Other payments, if any, shall be made in the currency specified by the Bank having regard to the currency of the expenditure to be reimbursed by means of that payment.

Član2.3

Confirmation by the Bank

The Bank shall deliver to the Borrower the amortisation table referred to in

Article 4.1

, if any, showing the Disbursement Date, the currency, the amount disbursed, the repayment terms and the interest rate for each Tranche, not later than 10 (ten) calendar days after the Scheduled Disbursement Date for such Tranche.

ARTICLE 3Čl. 3.1–3.3

Interest

Član3.1

Rate of interest

Član3.1A

Fixed Rate Tranches

The Borrower shall pay interest on the outstanding balance of each Fixed Rate Tranche at the Fixed Rate quarterly or semi-annually in arrear on the relevant Payment Dates as specified in the Disbursement Offer, commencing on the first such Payment Date following the Disbursement Date of the Tranche. If the period from the Disbursement Date to the first Payment Date is 15 (fifteen) days or less then the payment of interest accrued during such period shall be postponed to the following (second) Payment Date.

Interest shall be calculated on the basis of

Article 5.1(a)

Član3.1B

Floating Rate Tranches

The Borrower shall pay interest on the outstanding balance of each Floating Rate Tranche at the Floating Rate quarterly or semi-annually in arrear on the relevant Payment Dates, as specified in the Disbursement Offer commencing on the first such Payment Date following the Disbursement Date of the Tranche.

The Bank shall notify the Borrower of the Floating Rate within 10 (ten) days following the commencement of each Floating Rate Reference Period.

If pursuant to Articles 1.5 and 1.6 disbursement of any Floating Rate Tranche takes place after the Scheduled Disbursement Date, EURIBOR applicable to the first Floating Rate Reference Period shall be determined, in accordance with Schedule B, for the Floating Rate Reference Period commencing on the Disbursement Date and not the Scheduled Disbursement Date.

Interest shall be calculated in respect of each Floating Rate Reference Period on the basis of

Article 5.1(b)

Član3.1C

Revision or Conversion of Tranches

Where the Borrower exercises an option to revise or convert the interest rate basis of a Tranche, it shall, from the effective Interest Revision/Conversion Date (in accordance with the procedure set out in Schedule D) pay interest at a rate determined in accordance with the provisions of Schedule D.

Član3.2

Interest on overdue sums

Without prejudice to

Article 10

and by way of exception to

Article 3.1

, if the Borrower fails to pay any amount payable by it under this Contract on its due date, interest shall accrue on any overdue amount payable under the terms of this Contract from the due date to the date of actual payment at an annual rate equal to:

for overdue sums related to Floating Rate Tranches, the applicable Floating Rate plus 2% (200 basis points);

for overdue sums related to Fixed Rate Tranches, the higher of:

(i)

the applicable Fixed Rate plus 2% (200 basis points); or

(ii)

the EURIBOR (one month) plus 2% (200 basis points); and

for overdue sums other than under (a) or (b) above, EURIBOR (one month) plus 2% (200 basis points),

and shall be payable in accordance with the demand of the Bank. For the purpose of determining the EURIBOR in relation to this

Article 3.2 (b)

and (c), the relevant periods within the meaning of Schedule B shall be successive periods of one (1) month commencing on the due date. Any unpaid but due interest may be capitalised in conformity with article 1154 of the Luxembourg Civil Code. For the avoidance of doubt, capitalisation of interest shall occur only for interest due but unpaid for a period of more than one year. The Borrower hereby agrees in advance to have the unpaid interest due for a period of more than one year compounded and that as of the capitalisation, such unpaid interest will in turn produce interest at the interest rate set out in this Article 3.2.

Notwithstanding

Article 3.2(c)

above, if the overdue sum is in a currency for which no EURIBOR is specified in this Contract, the relevant interbank rate, or as determined by the Bank, the relevant risk-free rate that is generally retained by the Bank for transactions in that currency shall apply plus 2% (200 basis points), calculated in accordance with the market practice for such rate.

Član3.3

Market Disruption Event

If at any time:

from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche; and

until the date falling 20 (twenty) Business Days prior to the Scheduled Disbursement Date for Tranches to be disbursed in EUR,

a Market Disruption Event occurs, the Bank may notify the Borrower that this

Article 3.3

has come into effect.

The rate of interest applicable to such Accepted Tranche until the Maturity Date or the Interest Revision/Conversion Date if any, shall be the percentage rate per annum which is the rate (expressed as a percentage rate per annum) which is determined by the Bank to be the all-inclusive cost to the Bank for the funding of the relevant Tranche based upon the then applicable internally generated Bank reference rate or an alternative rate determination method reasonably determined by the Bank.

The Borrower shall have the right to refuse in writing such disbursement within the deadline specified in the notice and shall bear charges incurred as a result, if any, in which case the Bank shall not effect the disbursement and the corresponding portion of the Credit shall remain available for disbursement under Article 1.2. If the Borrower does not refuse the disbursement in time, the Parties agree that the disbursement in EUR and the conditions thereof shall be fully binding for all Parties. The Spread or Fixed Rate previously accepted by the Borrower shall no longer be applicable.

ARTICLE 4Čl. 4.1–4.4.B

Repayment

Član4.1

Normal repayment

Član4.1.A

Repayment by instalments

The Borrower shall repay each Tranche by instalments on the Repayment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to

Article 2.3

Each amortisation table shall be drawn up on the basis that:

(i)

in the case of a Fixed Rate Tranche without an Interest Revision/Conversion Date, repayment shall be made quarterly, semi-annually or annually by equal instalments of principal or constant instalments of principal and interest;

(ii)

in the case of a Fixed Rate Tranche with an Interest Revision/Conversion Date or a Floating Rate Tranche, repayment shall be made by equal quarterly, semi-annual or annual instalments of principal;

(iii)

the first Repayment Date of each Tranche shall fall not earlier than 30 (thirty) days from the Scheduled Disbursement Date and not later than the Repayment Date immediately following the 5th anniversary of the Scheduled Disbursement Date of the Tranche; and

(iv)

the last Repayment Date of each Tranche shall fall not earlier than 4 (four) years and not later than 15 (fifteen) years from the Scheduled Disbursement Date.

Član4.1.B

Single instalment

Alternatively, the Borrower shall repay the Tranche in a single instalment on the sole Repayment Date specified in the Disbursement Offer that shall fall not earlier than 3 (three) years and not later than 10 (ten) years from the Scheduled Disbursement Date.

Član4.2

Voluntary prepayment

Član4.2.A

Prepayment option

Subject to Articles 4.2.B, 4.2.C and 4.4, the Borrower may prepay all or part of any Tranche, together with accrued interest and indemnities if any, upon giving a Prepayment Request not earlier than 60 (sixty) and not later than 30 (thirty) calendar days' prior notice specifying:

the Prepayment Amount;

the Prepayment Date;

if applicable, the choice of application method of the Prepayment Amount in line with

Article 5.5.C(a)

; and

the Contract Number.

The Prepayment Request shall be irrevocable.

Član4.2.B

Prepayment indemnity

4.2.B(1) FIXED RATE TRANCHE

Subject to

Article 4.2.B(3)

below, if the Borrower prepays a Fixed Rate Tranche, the Borrower shall pay to the Bank on the Prepayment Date the Prepayment Indemnity in respect of the Fixed Rate Tranche which is being prepaid.

4.2.B(2) FLOATING RATE TRANCHE

Subject to

Article 4.2.B(3)

below, the Borrower may prepay a Floating Rate Tranche without indemnity.

4.2.B(3) REVISION/CONVERSION

Prepayment of a Tranche on its Interest Revision/Conversion Date may be effected without indemnity except if the Borrower has accepted pursuant to Schedule D a Fixed Rate under an Interest Revision/Conversion Proposal.

Član4.2.C

Prepayment mechanics

Upon presentation by the Borrower to the Bank of a Prepayment Request in respect of a Fixed Rate Tranche, the Bank shall issue a Prepayment Offer to the Borrower, not later than 15 (fifteen) days prior to the Prepayment Date. The Prepayment Offer shall specify the Prepayment Amount, the Prepayment Date, the accrued interest due thereon, the Prepayment Indemnity payable under

Article 4.2.B(1)

, the fee under

Article 4.2.D

, if any, the method of application of the Prepayment Amount and the deadline by which the Borrower may accept the Prepayment Offer.

If the Borrower accepts the Prepayment Offer no later than by the deadline specified therein, the Bank shall send to the Borrower, no later than 10 (ten) days prior to the relevant Prepayment Date, a Prepayment Notice. If the Borrower does not duly accept the Prepayment Offer, the Borrower may not effect the prepayment in respect of such Fixed Rate Tranche.

Upon presentation by the Borrower to the Bank of a Prepayment Request in respect of a Floating Rate Tranche, the Bank shall issue a Prepayment Notice to the Borrower, not later than 10 (ten) days prior to the Prepayment Date.

The Borrower shall pay the amount specified in the Prepayment Notice on the relevant Prepayment Date.

Član4.2.D

Administrative Fee

If the Bank exceptionally accepts, solely upon the Bank’s discretion, a Prepayment Request with prior notice of less than 30 (thirty) calendar days, the Borrower shall pay to the Bank a fee of EUR 10,000.00 (ten thousand euros) per each Tranche requested to be prepaid, partly or in full, in consideration of the administrative costs incurred by the Bank in connection with such voluntary prepayment. In such case, the Bank shall not be under an obligation to observe the deadlines to send a Prepayment Offer and/or the Prepayment Notice, as applicable, pursuant to this Contract.

Član4.3

Compulsory prepayment and cancellation

Član4.3.A

Prepayment Events

4.3.A(1) PROJECT COST REDUCTION EVENT

The Borrower shall promptly inform the Bank if a Project Cost Reduction Event has occurred or is likely to occur. At any time after the occurrence of a Project Cost Reduction Event the Bank may, by notice to the Borrower, cancel the undisbursed portion of the Credit and/or demand prepayment of the Loan Outstanding up to the amount by which the Credit exceeds the limit(s) referred to in paragraph (c) below together with accrued interest and all other amounts accrued and outstanding under this Contract in relation to the proportion of the Loan Outstanding to be prepaid.

The Borrower shall effect payment of the amount demanded on the date specified by the Bank, such date falling not less than 30 (thirty) days from the date of the demand.

For the purpose of this Article, "Project Cost Reduction Event" means that the total cost of the Project falls below the figure stated in Recital (b) so that the amount of the Credit (exceeds together with any other credits provided by the Bank for this Project) exceeds:

(i)

50% (fifty per cent); and/or

(ii)

when aggregated with the amount of any other funds from the European Union made available for the Project, 70% (seventy per cent),

of such total cost of the Project.

4.3.A(2) NON-EIB FINANCING PREPAYMENT EVENT

The Borrower shall promptly inform the Bank if a Non-EIB Financing Prepayment Event has occurred or is likely to occur. At any time after the occurrence of a Non-EIB Financing Prepayment Event the Bank may, by notice to the Borrower, cancel the undisbursed portion of the Credit and demand prepayment of the Loan Outstanding, together with accrued interest and all other amounts accrued and outstanding under this Contract in relation to the proportion of the Loan Outstanding to be prepaid.

The proportion of the Credit that the Bank may cancel and the proportion of the Loan Outstanding that the Bank may require to be prepaid shall be the same as the proportion that the prepaid amount of the Non-EIB Financing bears to the aggregate outstanding amount of all Non-EIB Financing.

The Borrower shall effect payment of the amount demanded on the date specified by the Bank, such date being a date falling not less than 30 (thirty) days from the date of the demand.

Paragraph (a) does not apply to any voluntary prepayment (or repurchase or cancellation, as the case may be) of a Non-EIB Financing:

(i)

made with a prior written consent of the Bank;

(ii)

made within a revolving credit facility;

(iii)

made out of the proceeds of any financial indebtedness having a term at least equal to the unexpired term of such Non-EIB Financing prepaid.

For the purposes of this Article:

(i)

"Non-EIB Financing Prepayment Event" means any case where the Borrower, voluntarily prepays (for the avoidance of doubt, such prepayment shall include a voluntary repurchase or cancellation of any creditor's commitment, as the case may be) a part or the whole of any Non-EIB Financing; and

(ii)

"Non-EIB Financing" means any financial indebtedness (save for the Loan and any other direct financial indebtedness from the Bank to the Borrower), or any other obligation for the payment or repayment of money originally made available to the Borrower) for a term of more than 5 (five) years.

4.3.A(3) CHANGE OF LAW EVENT

The Borrower shall promptly inform the Bank if a Change-of-Law Event has occurred or is likely to occur. In such case, or if the Bank has reasonable cause to believe that a Change- of-Law Event has occurred or is about to occur, the Bank may request that the Borrower consult with it. Such consultation shall take place within 30 (thirty) days from the date of the Bank’s request. If, after the lapse of 30 (thirty) days from the date of such request for consultation the Bank is of the opinion that:

such Change-of-Law Event would materially impair the Borrower’s ability to perform its obligations under this Contract, and

the effects of such Change-of-Law Event cannot be mitigated to its satisfaction,

the Bank may, by notice to the Borrower, cancel the undisbursed portion of the Credit and/or demand prepayment of the Loan Outstanding, together with accrued interest and all other amounts accrued and outstanding under this Contract.

The Borrower shall effect payment of the amount demanded on the date specified by the Bank, such date being a date falling not less than 30 (thirty) days from the date of the demand.

For the purposes of this Article "Change-of-Law Event" means the enactment, promulgation, execution or ratification of or any change in or amendment to any law, rule or regulation (or in the application or official interpretation of any law, rule or regulation) that occurs after the date of this Contract and which could impair the Borrower's ability to perform its obligations under this Contract.

4.3.A(4) ILLEGALITY EVENT

Upon becoming aware of an Illegality Event:

(i)

the Bank shall promptly notify the Borrower, and

(ii)

the Bank may immediately (A) suspend or cancel the undisbursed portion of the Credit, and/or (B) demand prepayment of the Loan Outstanding, together with accrued interest and all other amounts accrued and outstanding under this Contract on the date indicated by the Bank in its notice to the Borrower.

For the purposes of this Article, "Illegality Event" means that:

(i)

it becomes unlawful in any applicable jurisdiction, or it becomes or the Bank has reasonable cause to expect that it may become contrary to any Sanctions, for the Bank to:

(A) perform any of its obligations as contemplated in this Contract; or

(B) fund or maintain the Loan;

ii)

the Framework Agreement is or is likely to be:

(A) repudiated by the Republic of Serbia or not binding on the Republic of Serbia in any respect;

(B) not effective in accordance with its terms or is alleged by the Borrower to be ineffective in accordance with its terms.

(C) breached by the Republic of Serbia, in that any obligation assumed by the Republic of Serbia under the Framework Agreement ceases to be fulfilled as regards any financing made to any borrower in the territory of the Republic of Serbia from the resources of the Bank, or the EU; or

(D) not applicable to the Project or the rights of the Bank under the Framework Agreement cannot be enforced in respect of the Project;

iii)

in respect of the EFSD+ DIW1 Guarantee:

(A) it is no longer valid or in full force and effect;

(B) the conditions for cover thereunder are not fulfilled;

(D) Republic of Serbia ceases to be an eligible country pursuant to the NDICI-GE Regulation, the IPA III Regulation, or any other applicable law or instrument governing EFSD+.

4.3.A(5) FAILURE TO REALLOCATE

The Borrower shall immediately prepay any part of the Loan Outstanding, which has not been reallocated in accordance with

Article 1.10

, together with accrued interest and all other amounts accrued or outstanding under this Contract on the date specified by the Bank, such date being a date falling not less than 30(thirty) days from the date of the demand.

Član4.3.B

Prepayment mechanics

Any sum demanded by the Bank pursuant to

Article 4.3.A

, together with any interest or other amounts accrued or outstanding under this Contract including, without limitation, any indemnity due under

Article 4.3.C

, shall be paid on the Prepayment Date indicated by the Bank in its notice of demand.

Član4.3.C

Prepayment indemnity

4.3.C(1) FIXED RATE TRANCHE

If the Borrower prepays a Fixed Rate Tranche in case of an Indemnifiable Prepayment Event, the Borrower shall pay to the Bank on the Prepayment Date the Prepayment Indemnity in respect of the Fixed Rate Tranche that is being prepaid.

4.3.C(2) FLOATING RATE TRANCHE

The Borrower may prepay the Floating Rate Tranches without the Prepayment Indemnity.

Član4.4

General

Član4.4.A

No prejudice to Article 10

This

Article 4

shall not prejudice

Article 10.

Član4.4.B

No reborrowing

A repaid or prepaid amount may not be reborrowed.

ARTICLE 5Čl. 5.1–5.5.C

Payments

Član5.1

Day count convention

Any amount due by way of interest, indemnity or the Deferment Fee from the Borrower under this Contract, and calculated in respect of a fraction of a year, shall be determined on the following respective conventions:

under a Fixed Rate Tranche, a year of 360 (three hundred and sixty) days and a month of 30 (thirty) days; and

under a Floating Rate Tranche, a year of 360 (three hundred and sixty) days and the number of days elapsed.

Član5.2

Time and place of payment

Unless otherwise specified in this Contract or in the Bank’s demand, all sums other than sums of interest, indemnity and principal are payable within 15 (fifteen) days of the Borrower’s receipt of the Bank’s demand.

Each sum payable by the Borrower under this Contract shall be paid to the relevant account notified by the Bank to the Borrower. The Bank shall notify the account not less than 15 (fifteen) days before the due date for the first payment by the Borrower and shall notify any change of account not less than 15 (fifteen) days before the date of the first payment to which the change applies. This period of notice does not apply in the case of payment under

Article 10.

The Borrower shall indicate the Contract Number in the payment details for each payment made hereunder.

A sum due from the Borrower shall be deemed paid when the Bank receives it.

Any disbursements by and payments to the Bank under this Contract shall be made using the Disbursement Account (for disbursements by the Bank) and the Payment Account (for payments to the Bank).

Član5.3

No set-off by the Borrower

All payments to be made by the Borrower under this Contract shall be calculated and be made without (and free and clear of any deduction for) set-off or counterclaim.

Član5.4

Disruption to Payment Systems

If either the Bank determines (in its discretion) that a Disruption Event has occurred or the Bank is notified by the Borrower that a Disruption Event has occurred:

the Bank may, and shall if requested to do so by the Borrower, consult with the Borrower with a view to agreeing with the Borrower such changes to the operation or administration of this Contract as the Bank may deem necessary in the circumstances;

the Bank shall not be obliged to consult with the Borrower in relation to any changes mentioned in paragraph (a) if, in its opinion, it is not practicable to do so in the circumstances and, in any event, shall have no obligation to agree to such changes; and

the Bank shall not be liable for any damages, costs or losses whatsoever arising as a result of a Disruption Event or for taking or not taking any action pursuant to or in connection with this

Article 5.4

Član5.5

Application of sums received

Član5.5.A

General

Sums received from the Borrower shall only discharge its payment obligations if received in accordance with the terms of this Contract.

Član5.5.B

Partial payments

If the Bank receives a payment that is insufficient to discharge all the amounts then due and payable by the Borrower under this Contract, the Bank shall apply that payment, in the order set out below, in or towards:

pro rata to each of any unpaid fees, costs, indemnities and expenses due under this Contract;

any accrued interest due but unpaid under this Contract;

any principal due but unpaid under this Contract; and

any other sum due but unpaid under this Contract.

Član5.5.C

Allocation of sums related to Tranches

In case of:

(i)

a partial voluntary prepayment of a Tranche that is subject to a repayment in several instalments, the Prepayment Amount shall be applied pro rata to each outstanding instalment, or, at the request of the Borrower, in inverse order of maturity; or

(ii)

a partial compulsory prepayment of a Tranche that is subject to a repayment in several instalments, the Prepayment Amount shall be applied in reduction of the outstanding instalments in inverse order of maturity.

Sums received by the Bank following a demand under

and applied to a Tranche, shall reduce the outstanding instalments in inverse order of maturity. The Bank may apply sums received between Tranches at its discretion.

In case of receipt of sums which cannot be identified as applicable to a specific Tranche, and on which there is no agreement between the Bank and the Borrower on their application, the Bank may apply these between Tranches at its discretion.

ARTICLE 6Čl. 6.1–6.13

Borrower undertakings and representations

The undertakings in this Article 6 remain in force from the Date of Effectiveness for so long as any amount is outstanding under this Contract or the Credit is in force.

A. PROJECT UNDERTAKINGS

Član6.1

Use of Loan and availability of other funds

The Borrower shall, and shall ensure that the Promoter shall, use all amounts borrowed by it under this Contract for the execution of the Project.

The Borrower shall ensure that it has available to it the other funds listed in Recital (b) and that such funds are expended, to the extent required, on the financing of the Project.

The Borrower shall make the proceeds of the disbursed Tranches available to the Promoter in such a manner as to protect the interests of the Borrower and the Bank, to comply with the provisions of this Contract and to accomplish the purposes for which the Credit was made.

Član6.2

Completion of Project

The Borrower shall, and shall ensure that the Promoter and the Implementing Entity shall, carry out the Project in accordance with the Technical Description and the Allocation Letters as may be modified from time to time with the approval of the Bank, and complete it by the final date specified therein.

Član6.3

Increased cost of Project

If the total cost of the Project exceeds the estimated figure set out in Recital (b), the Borrower shall obtain the finance to fund the excess cost without recourse to the Bank, so as to enable the Project to be completed in accordance with the Technical Description. The plans for funding the excess cost shall be communicated to the Bank without delay.

Član6.4

Procurement procedure

The Borrower shall, and shall ensure that the Promoter and the Implementing Entity shall, undertakes to purchase equipment, secure services and order works for the Project by acceptable procurement procedures complying, to the Bank’s satisfaction, with its policy as described in its Guide to Procurement.

Član6.5

Continuing Project undertakings

The Borrower, acting through the Promoter, shall and shall ensure that the Implementing Entity shall:

Maintenance: maintain, repair, overhaul and renew all property forming part of the Project as required to keep it in good working order;

Project assets: unless the Bank shall have given its prior consent in writing retain title to and possession of substantially all the assets comprising the Project or, as appropriate, replace and renew such assets and maintain the Project in substantially continuous operation in accordance with its original purpose; the Bank may withhold its consent only where the proposed action would prejudice the Bank's interests as lender to the Borrower or would render the Project ineligible for financing by the Bank under its Statute or under article 309 of the Treaty on the Functioning of the European Union;

Insurance: insure all works and property forming part of the Project with first class insurance companies in accordance with the most comprehensive relevant industry practice;

Rights and Permits: maintain in force all rights of way or use and all Authorisations necessary for the execution and operation of the Project; and

Environment and Social:

(i)

implement and operate the Project in compliance with the Environmental and Social Standards;

(ii)

obtain and maintain requisite Environmental or Social Approvals for the Project;

(iii)

comply with any such Environmental or Social Approvals; and

(iv)

provide any subsequent updates of the report on environmental compliance, where relevant, in accordance with Environmental Approvals, in relation to all Project components financed by the Bank.

Accounts: if the account is not registered within the List of Authorised Signatories and Accounts, ensure that the Promoter requests any disbursements from the Borrower and the Borrower makes any such payments to the Promoter in relation with the Project to a bank account in the name of the Promoter held with a duly authorised financial institution in the jurisdiction where the Promoter is located or where the Project is undertaken by the Promoter.

Član6.6

Additional Undertakings

The Borrower, acting through the Promoter, shall, and shall ensure that the Implementing Entity shall:

ensure that individual allocations comply with the eligibility criteria and the reporting requirements as defined in this Contract;

ensure that the PIU is created and continues to stay operational with staff and resources for, inter alia, managing environmental, social and climate change issues, to the satisfaction of the Bank;

ensure, that before the Credit is allocated for Sub-Projects that are subject to an Environmental and Social Impact Assessment Study, that the Bank has received and is satisfied with the environmental studies and documents related to the Environmental and Social Impact Assessment Study (including Environmental and Social Impact Assessment Study report, environmental consent);

undertake (when applicable) to fulfil the requirements of the environmental impact studies (Environmental and Social Impact Assessment Study report or others) and of the associated environmental permits;

when applicable, including in case of land acquisition or displacement, ensure that the Implementing Entity prepares a resettlement action plan (RAP) or livelihood restoration plan (LRP) in alignment with the approved general approach in case of displacement or land acquisition;

ensure that the Implementing Entity performs a Network Wide Climate Risk Vulnerability Assessment3 in the early phase of the Project implementation, and the results of this study are added as a part of multicriteria analysis for road selection;

ensure that there is no double-financing of the Sub-Project(s) with other loans provided by the Bank with the same Implementing Entity;

promptly inform the Bank when the implementation of any allocated Sub-Project is suspended or the Sub-Project is cancelled;

ensure that the tender dossiers for all contracts to be financed by the Bank shall include an effective national mechanism, as provided by the laws of the Borrower, for the remedy of complaints. Such national remedy mechanism shall be available to any party having had an interest in obtaining a particular contract and who has been, or risks being harmed by an alleged infringement;

promptly inform the Bank of any changes to the last procurement plan(s) reviewed by the Bank;

consult with the Bank prior to entering into any material amendments to contracts financed by the Loan in order to verify the alignment with the provisions under the Schedule A of this Contract and shall seek the Bank's non-objection prior to entering into any material amendments to contracts financed by the Bank, as applicable as per the latest version of the EIB Guide to Procurement4;

ensure that the Implementing Entity is in compliance, to the satisfaction of the Bank, with all the conditions (if any) that included in the Allocation Letter provided to the Borrower and/or the Implementing Entity for each allocation.

The Bank may identify additional undertakings in the allocation process and associated appraisal of the individual Sub-Project.

B. GENERAL UNDERTAKINGS

Član6.7

Compliance with laws

The Borrower shall, and shall ensure that the Implementing Entity shall, comply in all respects with all laws to which it or the Project is subject, if failure so to comply would materially impair the ability of the Borrower to perform its obligations under this Contract.

Član6.8

Change in business

The Borrower shall procure that no substantial change is made to the core business of the Implementing Entity carried on at the date of this Contract.

Član6.9

Books and records

The Borrower, acting through the Promoter, shall, and shall ensure that the Implementing Entity shall:

ensure that it has, and that the Implementing Entity has, kept and will continue to keep proper books and records of account, in which full and correct entries shall be made of all financial transactions and the assets and business of the Borrower and the Implementing Entity, including expenditures in connection with the Project, in accordance with GAAP as in effect from time to time;

3 To be defined at a later stage.

4 https://www.eib.org/en/publications/20240132-guide-to-procurement-for-projects-financed-by-the-eib

keep records of contracts financed with the proceeds of the Loan including a copy of the contract itself and material documents relating to the procurement for at least 6 (six) years from substantial performance of the contract; and

ensure that the books and records referred to under paragraphs (a) and (b) above are kept at least until the later of (i) the date falling 6 (six) years after the last repayment of the Credit under this Contract; and (ii) the date when, if notified by the Bank to the Borrower to be ongoing in relation to the Contract, any audit, verification, appeal, litigation or pursuit of claim or investigation by the European Anti-Fraud Office (OLAF) has been closed.

Član6.10

Integrity (a) Prohibited Conduct

The Borrower shall not and shall procure that the Implementing Entity shall not engage in (and shall not authorise or permit any other person acting on its behalf to engage in) any Prohibited Conduct in connection with the Project, any tendering procedure for the Project, or any transaction contemplated by the Contract.

ii)

The Borrower undertakes and shall ensure that the Implementing Entity undertakes to take such action as the Bank shall reasonably request to investigate or terminate any alleged or suspected occurrence of any Prohibited Conduct in connection with the Project.

iii)

The Borrower undertakes and shall ensure that the Implementing Entity undertakes to ensure that contracts financed by this Loan include the necessary provisions to enable the Borrower to investigate or terminate any alleged or suspected occurrence of any Prohibited Conduct in connection with the Project.

Sanctions

The Borrower shall not, and shall procure that the Implementing Entity shall not, directly or indirectly:

enter into a business relationship with, and/or make any funds and/or economic resources available to, or for the benefit of, any Sanctioned Person in connection with the Project,

ii)

use all or part of the proceeds of the Loan or lend, contribute or otherwise make available such proceeds to any person in any manner that would result in a breach by itself and/or by the Bank of any Sanctions; or

iii)

fund all or part of any payment under this Contract out of proceeds derived from activities or businesses with a Sanctioned Person or in any manner that would result in a breach by itself and/or by the Bank of any Sanctions.

It is acknowledged and agreed that the undertakings set out in this

Article 6.10(b)

are only sought by and given to the Bank to the extent that to do so would be permissible pursuant to any applicable anti-boycott rule of the EU such as Regulation (EC) 2271/96.

Relevant Persons

The Borrower shall, and shall procure that the Implementing Entity shall, undertake to take within a reasonable timeframe appropriate measures in respect of any Relevant Person who is the subject of a final and irrevocable court ruling in connection with Prohibited Conduct perpetrated in the course of the exercise of their professional duties, in order to ensure that such Relevant Person is excluded from any of the activities in relation to the Loan and to the Project.

Član6.11

Data Protection

When disclosing information (other than mere contact information relating to the Borrower’s personnel involved in the management of this Contract ("Contact Details")) to the Bank in connection with this Contract, the Borrower shall redact or otherwise amend that information (as necessary) so that it does not contain any information relating to identified or identifiable individuals ("Personal Information"), except where this Contract specifically requires, or the Bank specifically requests in writing, to disclose such information in the form of Personal Information.

Before disclosing any Personal Information (other than Contact Details) to the Bank in connection with this Contract, the Borrower shall ensure that each individual to whom such Personal Information relates:

(i)

has been informed of the disclosure to the Bank (including the categories of Personal Information to be disclosed); and

(ii)

has been advised on the information contained in (or has been provided with an appropriate link to) the Bank’s privacy statement in relation to its lending and investment activities as set out from time to time at https://www.eib.org/en/privacy/lending (or such other address as the Bank may notify to the Borrower in writing from time to time).

Član6.12

General Representations and Warranties

The Borrower represents and warrants to the Bank that:

it has the power to execute, deliver and perform its obligations under this Contract and all necessary actions have been taken to authorise the execution, delivery and performance of the same by it;

this Contract constitutes its legally valid, binding and enforceable obligations;

the execution and delivery of, the performance of its obligations under and compliance with the provisions of this Contract do not and will not contravene or conflict with:

(i)

any applicable law, statute, rule or regulation, or any judgement, decree or permit to which it is subject;

(ii)

any agreement or other instrument binding upon it which might reasonably be expected to have a material adverse effect on its ability to perform its obligations under this Contract;

there has been no Material Adverse Change since 14 April 2025;

no event or circumstance which constitutes an Event of Default has occurred and is continuing unremedied or unwaived;

no litigation, arbitration, administrative proceedings or investigation is current or to its knowledge is threatened or pending before any court, arbitral body or agency which has resulted or if adversely determined is reasonably likely to result in a Material Adverse Change, nor is there subsisting against it any unsatisfied judgement or award;

it has obtained all necessary Authorisations in connection with this Contract and in order to lawfully comply with its obligations hereunder, and the Project and all such Authorisations are in full force and effect and admissible in evidence;

its payment obligations under this Contract rank not less than pari passu in right of payment with all other present and future unsecured and unsubordinated obligations under any of its debt instruments except for obligations mandatorily preferred by law;

it is in compliance with

Article 6.5(e)

and to the best of its knowledge and belief (having made due and careful enquiry) no Environmental or Social Claim has been commenced or is threatened against it in relation to the Project;

it is in compliance with all undertakings under this

Article 6

;

to the best of its knowledge, no funds invested in the Project by the Borrower are of illicit origin, including products of Money Laundering or linked to the Financing of Terrorism; and

neither the Borrower, nor, to the best of its knowledge, any Relevant Person has committed (i) any Prohibited Conduct in connection with the Project or any transaction contemplated by the Contract; or (ii) any illegal activity related to the Financing of Terrorism or Money Laundering;

the Project (including without limitation, the negotiation, award and performance of contracts financed or to be financed by the Loan) has not involved or given rise to any Prohibited Conduct;

none of the Borrower and/or, to the best of its knowledge, any Relevant Person:

(i)

is a Sanctioned Person; or

(ii)

is in breach of any Sanctions that apply to it or any Relevant Person (respectively).

It is acknowledged and agreed that the representations set out in this paragraph (n) are only sought by and given to the Bank to the extent that to do so would be permissible pursuant to any applicable anti-boycott rule of the EU such as Regulation (EC) 2271/96.

the Declaration on Honour dated 19 December 2025 is true in all respects.

The representations and warranties set out above are made on the date of this Contract and are, with the exception of the representation set out in paragraph (d) above, deemed repeated with reference to the facts and circumstances then existing on the date of each Disbursement Acceptance, each Disbursement Date and each Payment Date.

Član6.13

Conflict of interest

Pursuant to the general duty under the Guide to Procurement for the Implementing Entity to effectively prevent, identify and remedy conflicts of interest, the Borrower, acting through the Promoter, shall, and shall procure that the Implementing Entity shall ensure that prior to the award of any contract financed under the Project:

the Beneficial Owners of the successful bidder (including joint venture partners and subcontractors) who are Close Associates or Family Members of the representative(s), member(s) of the management bodies or senior officer(s) of the Borrower or the Implementing Entity are identified and promptly communicated to the Bank; and

adequate measures are adopted to address any potential conflicts of interest such as a financial, economic or other personal interest between the identified Beneficial Owner(s) and any member(s) of the Borrower's or the Implementing Entity’s management bodies, representative(s) or senior officer(s).

For the purposes of this Article:

"AML Directives" means the 4th AML Directive and the 5th AML Directive.

"4th AML Directive" means Directive 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing as amended, supplemented or restated.

"5th AML Directive" means Directive 2018/843 of the European Parliament and of the Council of 19 June 2018 on anti-money laundering and terrorist financing as amended, supplemented or restated. "Beneficial Owner(s)" has the meaning given to such term in the AML Directives.

"Close Associate(s)" means "persons known to be close associates" as defined in the AML Directives.

"Family Member(s)" has the meaning given to such term in the AML Directives.

ARTICLE 7Čl. 7.1–7.3

Security

The undertakings in this Article 7 remain in force from the Date of Effectiveness for so long as any amount is outstanding under this Contract or the Credit is in force.

Član7.1

Pari passu ranking

The Borrower shall ensure that its payment obligations under this Contract rank, and will rank, not less than pari passu in right of payment with all other present and future unsecured and unsubordinated obligations under any of its debt instruments except for obligations mandatorily preferred by law.

In particular, if the Bank makes a demand under

or if an event or potential event of default under any unsecured and unsubordinated External Debt Instrument of the Borrower or of any of its agencies or instrumentalities has occurred and is continuing, the Borrower shall not make (or authorise) any payment in respect of any other such External Debt Instrument (whether regularly scheduled or otherwise) without simultaneously paying, or setting aside in a designated account for payment on the next Payment Date a sum equal to, the same proportion of the debt outstanding under this Contract as the proportion that the payment under such External Debt Instrument bears to the total debt outstanding under that External Debt Instrument. For this purpose, any payment of an External Debt Instrument that is made out of the proceeds of the issue of another instrument, to which substantially the same persons as hold claims under the External Debt Instrument have subscribed, shall be disregarded.

In this Contract, "External Debt Instrument" means (a) an instrument, including any receipt or statement of account, evidencing or constituting an obligation to repay a loan, deposit, advance or similar extension of credit (including without limitation any extension of credit under a refinancing or rescheduling agreement), (b) an obligation evidenced by a bond, debenture or similar written evidence of indebtedness or (c) a guarantee granted by the Borrower for an obligation of a third party; provided in each case that such obligation is: (i) governed by a system of Ιaw other than the Ιaw of the Borrower; or (ii) payable in a currency other than the currency of the Borrower's country; or (iii) payable to a person incorporated, domiciled, resident or with its head office or principal place of business outside the Borrower's country.

Član7.2

Additional Security

If the Borrower grants to a third party any security for the performance of any External Debt Instrument or any preference or priority in respect thereof, the Borrower shall, if so required by the Bank, provide to the Bank equivalent security for the performance of its obligations under this Contract or grant to the Bank equivalent preference or priority.

Član7.3

Clauses by inclusion

If the Borrower concludes with any other financial creditor a financing agreement that includes a loss-of-rating clause or a covenant or other provision regarding its financial ratios, if applicable, that is not provided for in this Contract or is more favourable to the relevant financial creditor than any equivalent provision of this Contract is to the Bank, the Borrower shall promptly inform the Bank and shall provide a copy of the more favourable provision to the Bank. The Bank may request that the Borrower promptly executes an agreement to amend this Contract so as to provide for an equivalent provision in favour of the Bank.

ARTICLE 8Čl. 8.1–8.4

Information and Visits

Član8.1

Information concerning the Project

The Borrower (through the Implementing Entity or the Promoter) shall:

deliver to the Bank:

(i)

the information in content and in form, and at the times, specified in Schedule A or otherwise as agreed from time to time by the Parties; and

(ii)

any such information or further document concerning the financing, procurement, implementation, operation and matters relating to Environment or Social Matters of or for the Project, or any information or further document required by the Bank to comply with its obligations under the NDICI-GE Regulation or the Financial Regulation, as the Bank may reasonably require within a reasonable time,

provided always that if such information or document is not delivered to the Bank on time, and the Borrower (through the Promoter or the Implementing Entity) does not rectify the omission within a reasonable time set by the Bank in writing, the Bank may remedy the deficiency, to the extent feasible, by employing its own staff or a consultant or any other third party, at the Borrower’s expense and the Borrower (through the Promoter or the Implementing Entity) shall provide such persons with all assistance necessary for the purpose;

submit for the approval of the Bank without delay any material change to the Project, also taking into account the disclosures made to the Bank in connection with the Project prior to the signing of this Contract, in respect of, inter alia, the price, design, plans, timetable or to the expenditure programme or financing plan for the Project;

promptly inform the Bank of:

(i)

any action or protest initiated or any objection raised by any third party or any genuine complaint received by the Borrower and/or the Implementing Entity which is material with regard to environmental, social or other matters affecting the Project;

(ii)

any Environmental or Social Claim that is to its knowledge commenced, pending or threatened against it;

(iii)

any fact or event known to the Borrower, which may substantially prejudice or affect the conditions of execution or operation of the Project;

(iv)

any incident or accident relating to the Project which has or is likely to have a significant adverse effect on the Environment or on Social Matters;

(v)

any non-compliance by it with any Environmental and Social Standards;

(vi)

any suspension, revocation or material modification of any Environmental or Social Approval,

(vii)

a genuine allegation, complaint or information with regard to any Prohibited Conduct or any Sanction related to the Project;

(viii)

should it become aware of any fact or information confirming or reasonably suggesting that (a) any Prohibited Conduct has occurred in connection with the Project, or (b) any of the funds invested in its share capital or in the Project was derived from an illicit origin; and

and set out the action to be taken with respect to such matters; and

provide to the Bank, if so requested:

(i)

a certificate of its insurers showing fulfilment of the requirements of

Article 6.5(c)

; and

(ii)

annually, a list of policies in force covering the insured property forming part of the Project, together with confirmation of payment of the current premiums; and

(iii)

true copies of contracts financed with the proceeds of the Loan and evidence of expenditures relating to disbursements.

Član8.2

Information concerning the Borrower

The Borrower shall, and shall ensure that the Implementing Entity shall (as applicable):

deliver to the Bank such further information, evidence or document concerning:

(i)

the Implementing Entity’s general financial situation, latest available audited financial statements or such certificates of compliance with the undertakings of

Article 6

; and

(ii)

the compliance with the due diligence requirements of the Bank for the Borrower and/or the Implementing Entity, including, but not limited to "know your customer" (KYC) or similar identification and verification procedures,

when requested and within a reasonable time; and

inform the Bank immediately of:

(i)

any material alteration to the Implementing Entity’s statutes or shareholding structure and of any change of ownership of 5% (five per cent) or more of its shares after the date of this Contract;

(ii)

any fact which obliges it to prepay any financial indebtedness or any European Union funding;

(iii)

any event or decision that constitutes or may result in a Prepayment Event;

(iv)

any intention on its part to relinquish ownership of any material component of the Project;

(v)

any fact or event that is reasonably likely to prevent the substantial fulfilment of any obligation of the Borrower under this Contract;

(vi)

any Event of Default having occurred or being threatened or anticipated;

(vii)

unless prohibited by law, any material litigation, arbitration, administrative proceedings or investigation carried out by a court, administration or similar public authority, which, to the best of its knowledge and belief, is current, imminent or pending against the Borrower in connection with Prohibited Conduct related to the Credit, the Loan or the Project; any measure taken by the Borrower pursuant to

Article 6.12

of this Contract;

(viii)

any litigation, arbitration or administrative proceedings or investigation which is current, threatened or pending and which might if adversely determined result in a Material Adverse Change; and

(ix)

any claim, action, proceeding, formal notice or investigation relating to any Sanctions concerning the Borrower, Implementing Entity, or any Relevant Person.

Član8.3

Visits, Right of Access and Investigation

The Borrower shall, and shall ensure that the Implementing Entity shall, allow the Bank, and when either required by the relevant mandatory provisions of EU law or pursuant to the NDICI-GE Regulation or the Financial Regulation, as applicable, the European Court of Auditors, the European Commission, the European Anti-Fraud Office and the European Public Prosecutor’s Office, as well as persons designated by the foregoing (each a "Relevant Party"), to:

(i)

visit the sites, installations and works comprising the Project;

(ii)

interview representatives of the Borrower and/or the Implementing Entity, and not obstruct contacts with any other person involved in or affected by the Project;

(iii)

conduct such investigations, inspections, on-the-spot audits and checks as they may wish and review the Borrower’s and/or Implementing Entity’s books and records in relation to the Loan, the Contract and the execution of the Project, and to be able to take copies of related documents to the extent permitted by the law; and

The Borrower (through the Promoter or the Implementing Entity) shall provide the Bank and any Relevant Party, or ensure that the Bank and the Relevant Parties are provided, with access to information, facilities and documentation, as well as with all necessary assistance, for the purposes described in this Article.

Additionally, the Borrower shall allow the European Commission and the EU Delegation of the Republic of Serbia to participate in any monitoring missions organised by the Bank related to this Contract, the Loan or the Project.

In the case of a genuine allegation, complaint or information with regard to a Prohibited Conduct related to the Loan and/or the Project, the Borrower shall (and shall ensure that the Implementing Entity shall) consult with the Bank in good faith regarding appropriate actions. In particular, if it is proven that a third party committed a Prohibited Conduct in connection with the Loan and/or the Project with the result that the Loan was misapplied, the Bank may, without prejudice to the other provisions of this Contract, inform the Borrower if, in its view, the Borrower should take appropriate recovery measures against such third party. In any such case, the Borrower shall in good faith consider the Bank’s views and keep the Bank informed.

Član8.4

Disclosure and Publication

The Borrower acknowledges and agrees that:

(i)

the Bank may be obliged to communicate information and materials relating to the Borrower, the Loan, the Contract and/or the Project to any institution or body of the European Union, including the European Court of Auditors, the European Commission, any relevant EU Delegation, the European Anti-Fraud Office and the European Public Prosecutor’s Office, as may be necessary for the performance of their tasks in accordance with EU Law (including the NDICI Regulation and the Financial Regulation); and

(ii)

the Bank may publish on its website and/or on social media, and/or produce press releases, containing information related to the financing provided pursuant to this Contract with the support of the EFSD+ DIW1 Guarantee, including the name, address and country of establishment of the Borrower, the purpose of the financing, and the type and amount of financial support received under this Contract.

The Borrower:

(i)

acknowledges the origin of the EU financial support under the EFSD+ DIW1 Guarantee Agreement;

(ii)

shall ensure the visibility of the EU financial support under the EFSD+, in particular when promoting or reporting on the Borrower, this Contract, the Loan or the Project, and their results, in a visible manner on communication material related to the Borrower, this Contract, the Loan or the Project, and by providing coherent, effective and proportionate targeted information to multiple audiences, including the media and the public, provided that the content of the communication material has been previously agreed with the Bank; and

(iii)

shall consult with the Bank, the Commission and the EU Delegation of the Republic of Serbia on communication about the signature of this Finance Contract.

ARTICLE 9Čl. 9.1–9.3

Charges and expenses

Član9.1

Taxes, duties and fees

The Borrower shall pay all Taxes, duties, fees and other impositions of whatsoever nature, including stamp duty and registration fees, arising out of the execution or implementation of this Contract or any related document and in the creation, perfection, registration or enforcement of any Security for the Loan to the extent applicable. The Borrower shall pay all principal, interest, indemnities and other amounts due under this Contract gross without any withholding or deduction of any national or local impositions whatsoever required by law or under an agreement with a governmental authority or otherwise. If the Borrower is obliged to make any such withholding or deduction, it shall gross up the payment to the Bank so that after withholding or deduction, the net amount received by the Bank is equivalent to the sum due.

Član9.2

Other charges

The Borrower shall bear all charges and expenses, including professional, banking or exchange charges incurred in connection with the preparation, execution, implementation, enforcement and termination of this Contract or any related document, any amendment, supplement or waiver in respect of this Contract or any related document, and in the amendment, creation, management, enforcement and realisation of any security for the Loan.

Član9.3

Increased costs, indemnity and set-off

The Borrower shall pay to the Bank any costs or expenses incurred or suffered by the Bank as a consequence of the introduction of or any change in (or in the interpretation, administration or application of) any law or regulation or compliance with any law or regulation which occurs after the date of signature of this Contract, in accordance with or as a result of which (i) the Bank is obliged to incur additional costs in order to fund or perform its obligations under this Contract, or (ii) any amount owed to the Bank under this Contract or the financial income resulting from the granting of the Credit or the Loan by the Bank to the Borrower is reduced or eliminated.

Without prejudice to any other rights of the Bank under this Contract or under any applicable law, the Borrower shall indemnify and hold the Bank harmless from and against any loss incurred as a result of any full or partial discharge that takes place in a manner other than as expressly set out in this Contract.

The Bank may set off any matured obligation due from the Borrower under this Contract (to the extent beneficially owned by the Bank) against any obligation (whether or not matured) owed by the Bank to the Borrower regardless of the place of payment, booking branch or currency of either obligation. If the obligations are in different currencies, the Bank may convert either obligation at a market rate of exchange in its usual course of business for the purpose of the set-off. If either obligation is unliquidated or unascertained, the Bank may set off in an amount estimated by it in good faith to be the amount of that obligation.

ARTICLE 10Čl. 10.1–10.4

Events of Default

Član10.1

Right to demand repayment

The Borrower shall repay all or part of the Loan Outstanding (as requested by the Bank) forthwith, together with accrued interest and all other accrued or outstanding amounts under this Contract, upon written demand being made by the Bank in accordance with the following provisions.

Član10.1.A

Immediate demand

The Bank may make such demand immediately without prior notice (mise en demeure préalable) or any judicial or extra judicial step:

if the Borrower does not pay on the due date any amount payable pursuant to this Contract at the place and in the currency in which it is expressed to be payable, unless:

(i)

its failure to pay is caused by an administrative or technical error or a Disruption Event; and

(ii)

payment is made within 3 (three) Business Days of its due date;

if any information or document given to the Bank by or on behalf of the Borrower and/or the Implementing Entity (as applicable) or any representation, warranty or statement made or deemed to be made by the Borrower and/or the Implementing Entity (as applicable) in, pursuant to or for the purposes of entering into this Contract or in connection with the negotiation or performance of this Contract is or proves to have been incorrect, incomplete or misleading in any material respect;

if, following any default of the Borrower in relation to any loan, or any obligation arising out of any financial transaction, other than the Loan:

(i)

the Borrower is required or is capable of being required or will, following expiry of any applicable contractual grace period, be required or be capable of being required to prepay, discharge, close out or terminate ahead of maturity such other loan or obligation; or

(ii)

any financial commitment for such other loan or obligation is cancelled or suspended;

if the Borrower is unable to pay its debts as they fall due, or suspends its debts, or makes or seeks to make a composition with its creditors;

if an encumbrancer takes possession of, or a receiver, liquidator, administrator, administrative receiver or similar officer is appointed, whether by a court of competent jurisdiction or by any competent administrative authority, of over or any property forming part of the Project;

if the Borrower defaults in the performance of any obligation in respect of any other loan granted by the Bank or financial instrument entered into with the Bank, or of any other loan or financial instrument made to it from the resources of the Bank or the European Union;

if any expropriation, attachment, arrestment, distress, execution, sequestration or other process is levied or enforced upon any property forming part of the Project and is not discharged or stayed within 14 (fourteen) days;

if a Material Adverse Change occurs, as compared with the Borrower’s condition at the date of this Contract; or

if it is or becomes unlawful for the Borrower to perform any of its obligations under this Contract, or this Contract is not effective in accordance with its terms or is alleged by the Borrower to be ineffective in accordance with its terms.

Član10.1.B

Demand after notice to remedy

The Bank may also make such demand without prior notice (mise en demeure préalable) or any judicial or extra judicial step (without prejudice to any notice referred to below):

if the Borrower fails to comply with any provision of this Contract (other than those referred to in

Article 10.1.A

); or

if any fact related to the Borrower or the Project stated in the Recitals materially alters and is not materially restored and if the alteration either prejudices the interests of the Bank as lender to the Borrower or adversely affects the implementation or operation of the Project,

unless the non-compliance or circumstance giving rise to the non-compliance is capable of remedy and is remedied within a reasonable period of time specified in a notice served by the Bank on the Borrower.

Član10.2

Other rights at law

shall not restrict any other right of the Bank at law to require prepayment of the Loan Outstanding.

Član10.3

Indemnity

Član10.3.A

Fixed Rate Tranches

In case of demand under

in respect of any Fixed Rate Tranche, the Borrower shall pay to the Bank the amount demanded together with the indemnity on any amount of principal due to be prepaid. Such indemnity shall (i) accrue from the due date for payment specified in the Bank’s notice of demand and be calculated on the basis that prepayment is effected on the date so specified, and (ii) be for the amount communicated by the Bank to the Borrower as the present value (calculated as of the date of the prepayment) of the excess, if any, of:

the interest that would accrue thereafter on the amount prepaid over the period from the date of prepayment to the Interest Revision/Conversion Date, if any, or the Maturity Date, if it were not prepaid; over

the interest that would so accrue over that period, if it were calculated at the Redeployment Rate, less 0.19% (nineteen basis points).

The said present value shall be calculated at a discount rate equal to the Redeployment Rate, applied as of each relevant Payment Date of the applicable Tranche.

Član10.3.B

General

Amounts due by the Borrower pursuant to this

Article 10.3

shall be payable on the date specified in the Bank’s demand.

Član10.4

Non-Waiver

No failure or delay or single or partial exercise by the Bank in exercising any of its rights or remedies under this Contract shall be construed as a waiver of such right or remedy. The rights and remedies provided in this Contract are cumulative and not exclusive of any rights or remedies provided by law.

ARTICLE 11Čl. 11.1–11.8

Law and jurisdiction, miscellaneous.

Član11.1

Governing Law

This Contract and any non-contractual obligations arising out of or in connection with it shall be governed by the laws of Luxembourg.

Član11.2

Jurisdiction

Court of Justice of the European Union has exclusive jurisdiction to settle any dispute (a "Dispute") arising out of or in connection with this Contract (including a dispute regarding the existence, validity or termination of this Contract or the consequences of its nullity) or any non-contractual obligation arising out of or in connection with this Contract.

The Parties agree that the Court of Justice of the European Union is the most appropriate and convenient courts to settle Disputes between them and, accordingly, that they will not argue to the contrary.

The parties to this Contract hereby waive any immunity from or right to object to the jurisdiction of the Court of Justice of the European Union. A decision of the Court of Justice of the European Union given pursuant to this Article shall be conclusive and binding on each party without restriction or reservation.

Član11.3

Place of performance

Unless otherwise specifically agreed by the Bank in writing, the place of performance under this Contract, shall be the seat of the Bank.

Član11.4

Evidence of sums due

In any legal action arising out of this Contract the certificate of the Bank as to any amount or rate due to the Bank under this Contract shall, in the absence of manifest error, be prima facie evidence of such amount or rate.

Član11.5

Entire Agreement

This Contract constitutes the entire agreement between the Bank and the Borrower in relation to the provision of the Credit hereunder, and supersedes any previous agreement, whether express or implied, on the same matter.

Član11.6

Invalidity

If at any time any term of this Contract is or becomes illegal, invalid or unenforceable in any respect, or this Contract is or becomes ineffective in any respect, under the laws of any jurisdiction, such illegality, invalidity, unenforceability or ineffectiveness shall not affect:

the legality, validity or enforceability in that jurisdiction of any other term of this Contract or the effectiveness in any other respect of this Contract in that jurisdiction; or

the legality, validity or enforceability in other jurisdictions of that or any other term of this Contract or the effectiveness of this Contract under the laws of such other jurisdictions.

Član11.7

Amendments

Any amendment to this Contract shall be made in writing and shall be signed by the Parties.

Član11.8

Counterparts

This Contract may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument. Each counterpart is an original, but all counterparts shall together constitute one and the same instrument.

ARTICLE 12Čl. 12.1–12.4

Final clauses

Član12.1

Notices

Član12.1.A

Form of Notice

Any notice or other communication given under this Contract (other than a live pricing call in respect of a Live Pricing Tranche) must be in writing and, unless otherwise stated, may be made by letter or electronic mail.

Notices and other communications for which fixed periods are laid down in this Contract or which themselves fix periods binding on the addressee, may be made by hand delivery, registered letter or by electronic mail. Such notices and communications shall be deemed to have been received by the other Party:

(i)

on the date of delivery in relation to a hand-delivered or registered letter;

(ii)

in the case of any electronic mail only when such electronic mail is actually received in readable form and only if it is addressed in such a manner as the other Party shall specify for this purpose;

Any notice provided by the Borrower to the Bank by electronic mail shall:

(i)

mention the Contract Number in the subject line; and

(ii)

be in the form of a non-editable electronic image (pdf, tif or other common non editable file format agreed between the Parties) of the notice signed by an authorised signatory with individual representation right or by two or more authorised signatories with joint representation right of the Borrower as appropriate, attached to the electronic mail.

Notices issued by the Borrower pursuant to any provision of this Contract shall, where required by the Bank, be delivered to the Bank together with satisfactory evidence of the authority of the person or persons authorised to sign such notice on behalf of the Borrower and the authenticated specimen signature of such person or persons.

Without affecting the validity of electronic mail notices or communication made in accordance with this

Article 12.1

, the following notices, communications and documents shall also be sent by registered letter to the relevant Party at the latest on the second Business Day following:

(i)

Disbursement Acceptance;

(ii)

any notices and communication in respect of the deferment, cancellation and suspension of a disbursement of any Tranche, interest revision or conversion of any Tranche, Market Disruption Event, Prepayment Request, Prepayment Notice, Event of Default, any demand for prepayment; and

(iii)

any other notice, communication or document required by the Bank.

The Parties agree that any above communication (including via electronic mail) is an accepted form of communication, shall constitute admissible evidence in court and shall have the same evidential value as an agreement under hand (sous seing privé).

Član12.1.B

Addresses

The address and electronic mail address (and the department for whose attention the communication is to be made) of each Party for any communication to be made or document to be delivered under or in connection with this Contract is:

For the Bank Attention: EIB Global Directorate, Enlargement & Neighbourhood Department, Western Balkans & Türkiye Division

100 Boulevard Konrad Adenauer

L-2950 Luxembourg

E-Mail address: contactline-91756@eib.org

For the Borrower Attention: Ministry of Finance

20 Kneza Milosa Street

11000 Belgrade

Republic of Serbia

E-mail address: kabinet@mfin.gov.rs

Copy: uprava@javnidug.gov.rs

Član12.1.C

Notification of communication details

The Bank and the Borrower shall promptly notify the other Party in writing of any change in their respective communication details.

Član12.2

English language

Any notice or communication given under or in connection with this Contract must be in English.

All other documents provided under or in connection with this Contract must be:

(i)

in English; or

(ii)

if not in English, and if so required by the Bank, accompanied by a certified English translation and, in this case, the English translation will prevail.

Član12.3

Effectiveness of this Contract

Other than this

Article 12.3

and Articles 11.1, 11.2, 12.1 and 12.2, which will become legally effective and enter into full force and effect upon the date of signature of this Contract, this Contract shall become effective on the date (the "Date of Effectiveness") specified in a letter from the Bank to the Borrower confirming that the Bank has received evidence that all necessary official and governmental approvals, including the ratification by the national parliament of the Republic of Serbia, have been obtained, and such letter shall be conclusive evidence that this Contract has become effective.

If the Date of Effectiveness does not occur on or prior to the date falling 12 (twelve) months after the date of this Contract (or any later date notified by the Bank to the Borrower in writing), this Contract shall not enter into force and no further action shall be necessary or required.

Član12.4

Recitals, Schedules and Annexes

The Recitals and following Schedules form part of this Contract:

Schedule A Technical Description

Schedule B Definition of EURIBOR

Schedule C Form of Disbursement Offer/Acceptance (

Article 1.2.B

and 1.2.C)

Schedule D Interest Rate Revision and Conversion

Schedule E Certificates to be Provided by the Borrower The Parties have caused this Contract to be executed in 4 (four) originals in the English language.

At Belgrade, this 23 December 2025

Signed for and on behalf of

THE REPUBLIC OF SERBIA

____________________________

Mr. Siniša Mali

First Deputy Prime Minister and Minister of Finance At Luxembourg, this 23 December 2025

Signed for and on behalf of

EUROPEAN INVESTMENT BANK

________________ _______________

K. KANAPINSKAITE Victor Dominiak

HEAD OF DIVISION Legal Counsel

Schedule A

Technical Description

A.1.1 Purpose, Location

The project is designed to support Public Enterprise Roads of Serbia investment programme spanning from 2025 to 2030 which aims at rehabilitating and increasing the resilience of national and local road sections in Serbia.

Description

The investments will focus on rehabilitation, reconstruction and upgrade of the infrastructure, especially regarding climate resilience and safety aspects.

The project schemes included in the operation will meet at least one of the following objectives:

 Renewal or rehabilitation of existing asset (pavement, drainage system, structures, retaining walls, etc.) reaching the end of their useful life;

 Reduction of operating and maintenance costs;

 Bringing existing infrastructure and facilities into compliance with current regulations;

 Improving the resilience of existing infrastructure and facilities to climate change; and

 Improving road safety.

The investments are not aimed at any capacity increase.

The project will address local and national roads for a total estimated length of 540km.

All project schemes should assess the vulnerability of the related section to climate change and other natural hazards and incorporate, to the extent feasible, the additional appropriate mitigation measures in line with the nature of the operation and the scope of intervention.

In particular, the schemes included in the Project will cover (but is not limited) the following works:

 Reconstruction or rehabilitation of pavement structure and civil structures.

 Reconstruction or rehabilitation of drainage system.

 Consolidation of slopes. Improvement of road safety measures.

The scope of the investments includes the works, services and all associated activities required for their implementation and functioning.

Calendar

The programme will be implemented over a five-year period expected to be completed by 31st December 2030.

A.2 ALLOCATION PROCEDURES

Schemes will be submitted to the Bank under the cover of the summary table contained in annex A.4 below and modulated according to the size of the project scheme (see table below).

Total cost of the project scheme	Information to be provided to the Bank
> EUR 50 million	Schemes with a total cost of more than EUR 50 million will be subject to a specific due diligence by the Bank’s services. The Implementing Entity will provide the documents requested by the Bank allowing this instruction.

← Pomerite tabelu levo/desno za više detalja →

> EUR 5 million

Schemes will be selected by the Borrower (through the Implementing Entity and
the Promoter) on the basis of their compliance with the eligibility criteria defined in
the technical description (see A.1.1).
The allocation of the Bank’s funds shall be subject to the ex -ante approval of the
Bank’s services on the basis of the summary information to be provided by the
Borrower (through the Implementing Entity or the Promoter), namely a copy of the
completed application form for the allocation under a framework loan annex A.5
below, including the relevant supporting documents for each scheme.
The information will include the following elements:
 a description of the scheme, location, the beneficiary and the
operator;
 a technical description of the investment concerned (objectives, main
technical characteristics, costs, capacity, situation, expected benefits,
timetable for implementation of the main components);
 Evidence that the environmental and social assessment procedures
have been undertaken in line with the applicable legislation and the
EIB's Environmental and Social Standards, and that relevant
environmental documents are provided.
 an analysis of the vulnerability to climate change of the scheme
concerned based on findings of the CRVA and presentation of
adaptation measures;

< EUR 5 million

Schemes will be selected by the Borrower (through the Implementing Entity or the
Promoter) on the basis of their compliance with the eligibility criteria set out in the
Technical Description (see A.1.1). The list of schemes allocated is subject to ex-
ante verification by the Bank’s services in the form of annex A.6 below.

← Pomerite tabelu levo/desno za više detalja →

As per the technical description, all schemes will be required, and the Borrower (through the Implementing Entity or the Promoter) shall confirm at the time of allocation, that:

- Vulnerability assessment of the related section to climate change and other natural hazards has been performed in line with technical screening criteria as outlined for Substantial Contribution to CC-A as outlined in the EU Taxonomy Delegated Regulation 2021/2139 - Annex 25, and the appropriate mitigation measures will be incorporated.

- Road Safety interventions will be aligned with the applicable provisions of Directive 2008/96/EC on Road Infrastructure Safety Management as amended in by Directive (EU) 2019/1936

The Bank may request the support from external advisors to review and certify the eligibility of the schemes for allocation.

A.3 PROJECT INFORMATION TO BE SENT TO THE BANK AND METHOD OF

TRANSMISSION

1. Dispatch of information: designation of the person responsible

The information below must be sent to the Bank under the responsibility of:

5 https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32021R2139&from=EN

	Financial Contact	Technical Contact	MoCTI
Company	Public Enterprise Roads of Serbia	Public Enterprise Roads of Serbia
Contact person	to be provided at the Bank’s request (including by email)	to be provided at the Bank’s request (including by email)
Title	Executive director	Executive director
Function / Department financial and technical	Financial departments	Department for investments
Address	Bulevar kralja Aleksandra 282	Vlajkovićeva 19 a
Phone
Email

← Pomerite tabelu levo/desno za više detalja →

The above-mentioned contact person(s) is (are) the responsible contact(s) for the time being.

The Borrower (through the Promoter or Implementing Entity) shall inform the Bank immediately in case of any change.

2. Information on specific subjects

The Borrower (through the Implementing Entity and the Promoter) shall deliver to the Bank the following information at the latest by the deadline indicated below.

Document / information	Deadline
Project Fiche (templates below in A.4, A.5 or A.6) duly filled to the Bank’s satisfaction.	As part of to each allocation request.
Updated procurement plan	Yearly (as part of the Progress report) or with each allocation request, or within 1 month following any material modification.
Updated indicative list of project schemes	Yearly or within 1 month following the suspension or cancellation of an allocated scheme.
All documents (including bidding documents, evaluation reports, copy of all exchanges with candidates) related to the procurement procedure of three contracts randomly selected by the EIB, for a sample review purpose	In case of delegated procurement monitoring, yearly (within 15 days following EIB’s request with the list of selected contracts)

← Pomerite tabelu levo/desno za više detalja →

3. Information on the project’s implementation

The Borrower (through the Promoter or the Implementing Entity) shall deliver to the Bank the following information on project progress during implementation at the latest by the deadline indicated below.

Document / information	Deadline	Frequency of reporting
Project Progress Report - A brief update on the Technical Description, explaining the reasons for significant changes vs. initial scope; - Update on the date of completion of each of the project’s components, explaining reasons for any possible delay; - Update on the cost of the project, explaining reasons for any possible cost variations vs. initial budgeted cost; - Updated list of allocated schemes including for each scheme the following information: o Related works contracts (if more than one); o Updated cost (including any variation) and corresponding eligible cost; o Expenditures to date. - Consolidation of actual project’s expenditures to date; - A description of any major issue with impact on the environment and/or social impact; - Update of the procurement plan; - Update on the project’s demand or usage and comments; - Update on progress related to gender equality (including the percentage of female employees and turnover rates of women and men across all job categories). - Any significant issue that has occurred and any significant risk that may affect the project’s operation; - Statistics on the number of work-related accidents (including traffic accidents and health and safety issues) on project sites. - Any legal action concerning the project that may be on-going; - Non-confidential project-related pictures, if available. - Any update in the development and implementation of the Borrower’s/Implementing Entity’s climate resilience plan since contract signature.	1 year after signature of Finance Contract	Yearly

← Pomerite tabelu levo/desno za više detalja →

4. Information on the end of works and first year of operation

The Borrower (through the Implementing Entity or the Promoter) shall deliver to the Bank the following information on project completion and initial operation at the latest by the deadline indicated below.

Document / information

Date of delivery
to the Bank

Project Partial Completion Report and Project Completion Report, including:
- A final Technical Description of the project as completed, explaining the
reasons for any significant change compared to the Technical Description in
A.1;
- The date of completion of each of the main project’s components, explaining
reasons for any possible delay;
- The final cost of the project, explaining reasons for any possible cost
variations vs. initial budgeted cost;
- Employment effects of the project: person-days required during
implementation as well as permanent new jobs created disaggregated by
sex;
- A description of any major issue with impact on the environment or social
impacts;
- A summary of progress related to gender equality (including the percentage
of female employees and turnover rates of women and men across all job
categories) over the project period;
- A summary of the number of work-related accidents (including traffic
accidents and health and safety issues) on all project sites over the project
period.
- Update on procurement procedures and explanation of deviations from the
procurement plan;
- Update on the project’s demand or usage and comments;
- Any significant issue that has occurred and any significant risk that may
affect the project’s operation;
- Any legal action concerning the project that may be on going.
- Any update in the Borrower or Head of Group’s decarbonisation plan
(including targets) or climate resilience plan since contract signature.
- Non-confidential project-related pictures, if available.
- An update on the following monitoring indicators:
o Measured quality of pavement roughness of sections covered by
the programme within the three-measurement wavelength bands
o Total length of motorways rehabilitated under the programme, in
length of carriageway (one direction) and km lane
o Number of roads fatalities on sections rehabilitated under the
programme
o Trafic volumes on the respective road sections (AADT)
- An update on the additional monitoring indicators agreed in the Steering
Committee report

Project Completion
Report: 15 months
after project
completion

← Pomerite tabelu levo/desno za više detalja →

5. Information required 3 years after the Project Completion Report

The Borrower (through the Promoter or the Implementing Entity) shall deliver to the Bank the following information 3 years after the project completion report at the latest by the deadline indicated below.

Document / information	Date of delivery to the Bank
Update on the Monitoring Indicators listed in the table above.	3 years after the project completion report

← Pomerite tabelu levo/desno za više detalja →

Language of reports

English

← Pomerite tabelu levo/desno za više detalja →

A.4 Summary of allocations

The template for Summary Allocations:

Name of EIB Operation:		SUSTAINABLE IMPROVEMENT OF ROAD NETWORK
Number of EIB Operation:		20190805

Summary of Allocations


Previous allocations:
Allocation number	Name of sub-project	Road ID	Total Investment cost (EUR)	EIB Eligible cost (EUR)





Total requested amounts

Curent allocation request
Allocation number	Name of sub-project	Road ID	Total Investment cost (EUR)	EIB Eligible cost (EUR)





Total requested amounts

Total amount to be allocated:

← Pomerite tabelu levo/desno za više detalja →

A.5 ALLOCATION FICHE (for Schemes with a cost between EUR 5 and 50 million)

The example of the template for Allocation Fiche for Schemes with a cost between EUR 5 and 50 million (the full version of the template to be provided by the Bank to the Borrower (through the Promoter or the Implementing Entity), including via email, upon the request:

SUB-PROJECT FORM (for schemes with a cost between EUR 5 and 50 million) grey fields to be

filled in by the Implementing Entity

1 General Information

Name of the concerned section
Managing institution
Road ID		Date of last investment
Start PK – Fin PK (intervention zone)	-	Length of the sub-project in (km)

← Pomerite tabelu levo/desno za više detalja →

2 Key Objectives of the Sub-Project Please indicate the main reasons (check the appropriate box(es)):

Renewal or rehabilitation of existing asset (pavement, drainage system, retention walls, etc.) reaching the end of their useful life.
Reduction of operating and maintenance costs.
Bringing existing infrastructure and facilities into compliance with current regulations.
Improvement of the resilience of existing infrastructure and facilities to climate change.
Improving road safety.

← Pomerite tabelu levo/desno za više detalja →

3 Technical Description and Justification of the Sub-Project

Please provide main indicators:

- Length of road rehabilitated in lane.km

- Estimated ERR

- Estimated maintenance cost savings

- Estimated vehicle operating cost and time savings

- Estimated reduction in road fatalities

4 Description of the Project’s Vulnerability to Climate Change:

Has a Climate Risk and Vulnerability Assessment (CRVA) of the sub-project been completed performed in line with Technical screening criteria as outlined for Substantial Contribution to CC-A as outlined in the EU Taxonomy Delegated Regulation 2021/2139 - Annex 26? (yes/no)
If yes, which key climate hazards/ risks have been considered in the risk assessment?
Risks (e.g.)	Risk rating*	Adaptation measures proposed (infrastructural or operational)
Extreme temperatures (incl. heat waves)
Cold spells
Freeze-thaw damage
Extreme precipitation
Flooding
Ground instability/ landslides/ erosion
Extreme winds

← Pomerite tabelu levo/desno za više detalja →

6 https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32021R2139&from=EN

Wildfires
Fog
Other (please specify)

← Pomerite tabelu levo/desno za više detalja →

* Low/Medium/High

Do the proposed adaptation measures reduce the relevant risk levels to an acceptable level?

5 Demand Estimate for the Last 5 Years and Forecasts for the 5 Years After Investment

	Current Year – 5 years	Current Year	Year of Opening to Traffic	Year of Opening to Traffic + 5 years
	2019	2024	2026	2031
Trafic in AADT
% HGV

← Pomerite tabelu levo/desno za više detalja →

6 Investment Cost and Sources of Financing

	Investment Cost, excluding VAT (RSD)	Investment Cost, excluding VAT (EUR)
Earthworks
Major bridge structures (>100m)
Major tunnels (>100m)
Structures general, including walls
Drainage, incl. culverts
Retaining structures
Road works and Pavement - reconstruction
Road works and Pavement - resurfacing
Safety measures (signage, guard railing)
Installations (mechanical and electrical)
Environment (e.g. noise, animal protection)
Other
Land aquisition
Technical contingencies
Financial Contingencies
Total cost
EIB eligible cost

← Pomerite tabelu levo/desno za više detalja →

7 Implementation Period (dates: month, year)

Start

End

8 Procurement

Please indicate, by reference to the Procurement Plan, the works, supplies, and services contracts corresponding to the sub-project (add lines if necessary)

Contract	Procurement procedure	Total value of contract	Amount allocated to the sub-project	Estimated publication date
Description of works/services	International, open, restricted…	EUR	EUR

← Pomerite tabelu levo/desno za više detalja →

9 Environmental and Social Issues

Regulatory Requirements and Studies Conducted

Is an Environmental Impact Assessment (EIA) required?	Yes / No

If the sub-project has been screened out by the competent authority, has the decision not to require an EIA been issued by the authority?	Yes / No / N/A

	If Yes, please provide the decision (along with
	the information submitted to the relevant
	authority as a basis of their determination).

Has the environmental authorization/consent been granted by the competent authority?	Yes / No / N/A

	If Yes, please provide the authorization/consent
	granted by the competent authority.

Are other studies concerning the environmental aspects of the sub-project required and/or conducted?	Yes (please specify) / No / N/A

	If Yes, please specify the studies required or
	conducted
Is the sub-project located near protected sites (or having protected sites within its influence zone),	Yes / No


Is the project likely to have significant impacts on nearby nature conservation areas?	Yes / No

	If Yes, please include where relevant a reference
	to the studies where these risks and impacts are
	assessed. Please provide the statement of the
	competent environmental authority.

	If No, please provide the statement of the
	competent environmental authority regarding the
	absence of significant impacts on the sites
Has a public consultation been conducted / will be conducted on a document related to the project? (Planning documents, ESMF, EIA, or any other such as E&S Screening exercise, full	Yes / No / N/A

	If Yes, please describe the public consultation

← Pomerite tabelu levo/desno za više detalja →

ESMP or ESMP checklist, RAP/LRP)	process to be conducted / conducted and the
	participation of local communities and the most
	vulnerable groups including indigenous
	groups/minority ethics groups where applicable.
	And provide any relevant stakeholder
	engagement and consultation related
	documents* (including FPIC** related
	documents)
Is the project compliant with all environmental requirements? (local and national)	Yes / No

	Please provide a list of the environmental
	requirements the sub-project is subject to.
Does the project have any particular social issues (involuntary economic and/or physical displacement, impacts on vulnerable groups, labor standards, health, safety, and security at work)?	Yes / No

	If Yes, please include where relevant a reference
	to the studies where these risks and impacts are
	assessed.

How does the the Implementing Entity intend to monitor E&S and Health and Safety performance on-site of the sub-project?	Please include where relevant a reference to the
	documents where the the Implementing Entity
	indicates the main E&S and Health and Safety
	indicators that will be / are monitored and
	reported on as well as explains the roles and
	responsibilities for monitoring and reporting.
Does the project address a known road safety black spot	Yes/No.
	If Yes, please provide a brief description

← Pomerite tabelu levo/desno za više detalja →

Documents to be attached to the form:

For sub-projects subject to EIA, the environmental impact assessment report, including the cumulative impact assessment, its non-technical summary, and the sub-project authorization issued by the competent environmental authority (“environmental acceptability”).

For sub-projects where an EIA Report is not required, the Decision of the relevant authority (along with the information submitted to the relevant authority as a basis of their determination)

For sub-projects located near protected sites (or having protected sites within its influence zone), a statement from the competent environmental authority regarding the absence of significant impacts on the sites.

For sub-projects that require land acquisition and/or displacement (physical or economic), RAP (sub-projects leading to significant physical displacement) and/or LRP (sub-projects leading to economic displacement)

For all sub-projects, Environmental and Social Screening exercise

As per E&S risk level and the type of rehabilitation activity planned per sub-project, Environmental and Social Management Plan (full ESMP for High or Medium risk or ESMP Checklist for Medium risk as relevant)

Any other study, authorization, or opinion concerning the environmental aspects of the sub- project.

Depending on the specific characteristics of the sub-project, the Bank reserves the right to request additional information and documents, as well as to request the completion of an EIA or another specific study.

A.6 ALLOCATION FICHE (for Schemes with a cost below EUR 5 million)

To be provided by the Bank to the Borrower (through the Promoter or the Implementing Entity), if requested (including via email).

ALLOCATION NO. X

DATE: DD/MM/YYYY

Name of EIB Operation: SUSTAINABLE IMPROVEMENT OF ROAD NETW ORK

Number of EIB Operation: 20190805

Currency: EUR

ALLOCATION AND MONITORING TABLE (FOR SUB-PROJECTS LESS THAN EUR 5 MILLION INCLUDED IN THE EIB OPERATION) - individual schemes

Demand forecast (operation + 5 Area of intervention Current year data years) Climate change adaptation indicators (to be finalised within network CRVA when available) Description of the sub- project Dates of implementation Total cost of the sub-project Public procurement Road safety indicators Environmental and social compliance Cost eligible for EIB financing Estimated (EUR) Type of procedure publication date No. Length Road ID Name of sub-project Managing institution (order) (lane.km) Current Traffic Estimated traffic PK Start PK End HGV% HGV% (AADT) (AADT) Indigenous Nature Resettlemen Acquisition of and/or conservatio t land vulnerable n groups Description of CRVA Main adaptation completed? vulnerabilities solutions Description % of total road Road safety safety cost measures beginning end Exchange Cost in RSD Cost in EUR mm/yy mm/yy rate HSE performance description of the work Blackspots EIA

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)

(12) (13) (14) (15) (16)

(17) (18)

(19) (20) (21) (22)

(23) (24) (25)

(26) (27) (28) (29) (30)

Total

Explanatory

notes

(1)	Order
(2)	Road ID
(3)	Sub-project name (section name)
(4),(5)	Intervention area where the work will take place (start km and end km, in ascending order of km)
(6)	Length of the lane intervention area.km (length multiplied by the number of lanes concerned)
(7), (8)	Average annual daily traffic (AADT) of the section corresponding to the area of intervention, as well as the % of heavy goods vehicles (HGVs). Make the weighted average if the work is spread over two different homogeneous sections
(9),(10)	Estimation of the annual average daily traffic (AADT) of the section corresponding to the area of intervention, as well as the % of heavy goods vehicles (HGVs) five years after the end of the works. Make the weighted average if the work is spread over two different homogeneous sections
(11)	Briefly describe the work carried to be out on the roadway, structures, drainage network, embankments, equipment, etc.
(12)	Estimated start and end date of the works
(13)-(14)	Estimate of the total cost of the investment in RSD and EUR
(15)-(17)	Estimate of the total cost of the investment EUR, less the ineligible cost
(18)	Please indicate the tender procedure — ‘I’ International tender, ‘N’ National procedure, ‘Ne’ Negotiating procedure, ‘D’ Direct award, ‘Em’ Urgency procedure and, ‘C’ Consultation (where only a few companies are invited to tender).
(19)	Indicate whether the sub-project intervention area has been subject to a Climate Risk Vulnerability Analysis (CRVA) performed in line with Technical screening criteria as outlined for Substantial Contribution to CC-A as outlined in the EU Taxonomy Delegated Regulation 2021/2139 - Annex 2 , and confirm the explicit reference of the project documentation to the CRVA (indicate the reference)
(20)	List the main vulnerabilities of the sub-project section with the infrastructure vulnerability level (low/medium/strong)
(21)	Describe the technical solutions chosen and how they reduce key infrastructure vulnerabilities
(22)	Indicate whether the work includes addressing road safety black spots (yes/no)
(23)	Describe interventions to improve road safety, and interventions on road safety equipment
(24)	Estimate the % of the cost of the work on the interventions described in (23)
(25)	Please indicate the environmental screening procedure and/or the environmental impact assessment procedure to be followed ("N/A" if not applicable). Please indicate if there are other studies concerning the environmental and social aspects of the sub-project required and/or conducted? If Yes, please specify the studies required or conducted. If available, please provide the environmental authorization/consent to be granted by the competent authority or, if screened out, the decision not to require an EIA issued by the competent authority where applicable (along with the information submitted to the relevant authoritiy as a basis of their determination). Has a public consultation been conducted / will be conducted on a document related to the project? (Master Plan, ESMF, EIA, or any other such as E&S screening checklist, ESMP checklist, RAP/LRP). If Yes, please describe the public consultation process to be conducted / conducted.

← Pomerite tabelu levo/desno za više detalja →

	Concerning the impact of the project on protected habitat areas of international or national importance. Please indicate: (A) No significant impact, potential or probable, on a conservation site. In this case, please provide the statement issued from the competent environmental authority regarding the absence or no significant impacts on the sites. (B) A significant impact, potential or probable, on a conservation site. In this case, please provide the appropriate studies planned to be carried out / carried out and authorisations required. (C) Not applicable
(27)	Please indicate: A) Resettlement* of more than 200 people affected by the project (PAP). B) Reinstallation of less than 200 PAP. C) No resettlement. In both case A or B, provide the Livelihood Restoration Plan or Resettlement Action Plan prepared based on the approved general approach in case of resettlement. *Resettlement refers to displacement that occurs as a direct result of project-related land acquisition or restriction on land use. It includes: (a) physical displacement (i.e. physical relocation, loss of residence or loss of shelter); and/or (b) economic displacement (i.e. loss of assets, or access to assets, that leads to the loss of income sources or means of livelihood). Resettlement is involuntary when affected individuals or communities do not have the right to refuse such displacement.
(28)	Please indicate: A) Acquisition of land. In this case, provide the Livelihood Restoration Plan or Resettlement Action Plan based on the approved general approach in case of land acquisition. B) No land acquisition. Land acquisition refers to all methods of obtaining land for project purposes, which may include outright purchase, expropriation of land and assets and acquisition of temporary or permanent access rights, such as easements, rights of way, and establishment of restrictions of access to protected and other areas.
(29)	Please indicate: (A) Vulnerable groups potentially affected. In this case, please provide a description of the vulnerable groups as well as the planned stakeholder engagement and consultation procedure including related documents. (A) Indigenous groups/minority ethics groups that are potentially affected. In this case, please provide a description of the indigenous groups/minority ethics groups as well as the planned stakeholder engagement and consultation procedure including related FPIC* related documents (C) No vulnerable groups nor indigenous groups/minority ethics groups are affected. * Documents to demonstrate that stakeholder engagement and consultations will be / have been undertaken as per Standard 7 of EIB standards. ** FPIC: Free, Prior and Informed Consent. Refers to the documents that demonstrate the iterative process whereby the affected community of Indigenous Peoples arrives at an agreement reached within sufficient time and in accordance with their cultural traditions and practices.
(30)	Please indicate how does the promoter intend to monitor E&S and Health and Safety performance ? Please provide as relevant a reference to the studies where E&S and Health and Safety risks and impacts are assessed as well as the main E&S and Health and Safety indicators that are / will be monitored and reported on and the roles and responsibilities for monitoring and reporting.

← Pomerite tabelu levo/desno za više detalja →

(26)

Schedule B

Definition of EURIBOR

"EURIBOR" means:

(a)

in respect of a relevant period of less than one month, the Screen Rate (as defined below) for a term of one month;

(b)

in respect of a relevant period of one or more months for which a Screen Rate is available, the applicable Screen Rate for a term for the corresponding number of months; and

(c)

in respect of a relevant period of more than one month for which a Screen Rate is not available, the rate resulting from a linear interpolation by reference to two Screen Rates, one of which is applicable for a period next shorter and the other for a period next longer than the length of the relevant period,

(the period for which the rate is taken or from which the rates are interpolated being

the "Representative Period").

For the purposes of paragraphs (a) to (c) above:

(i)

"available" means the rates, for given maturities, that are calculated and published by Global Rate Set Systems Ltd (GRSS), or such other service provider selected by the European Money Markets Institute (EMMI), or any successor to that function of EMMI, as determined by the Bank; and

(ii) "Screen Rate" means the rate of interest for deposits in EUR for the relevant period as published at 11:00 a.m., Brussels time, or at a later time acceptable to the Bank on the day (the "Reset Date") which falls 2 (two) Relevant Business Days prior to the first day of the relevant period, on Reuters page EURIBOR 01 or its successor page or, failing which, by any other means of publication chosen for this purpose by the Bank.

If such Screen Rate is not so published, the Bank shall request the principal offices of four major banks in the euro-zone, selected by the Bank, to quote the rate at which EUR deposits in a comparable amount are offered by each of them, as at approximately 11:00 a.m., Brussels time on the Reset Date to prime banks in the euro-zone interbank market for a period equal to the Representative Period. If at least 2 (two) quotations are provided, the rate for that Reset Date will be the arithmetic mean of the quotations. If no sufficient quotations are provided as requested, the rate for that Reset Date will be the arithmetic mean of the rates quoted by major banks in the euro-zone, selected by the Bank, at approximately 11:00 a.m., Brussels time, on the day which falls 2 (two) Relevant Business Days after the Reset Date, for loans in EUR in a comparable amount to leading European banks for a period equal to the Representative Period. The Bank shall inform the Borrower without delay of the quotations received by the Bank.

All percentages resulting from any calculations referred to in this Schedule will be rounded, if necessary, to the nearest one thousandth of a percentage point, with halves being rounded up.

If any of the foregoing provisions becomes inconsistent with provisions adopted under the aegis of EMMI (or any successor to that function of EMMI as determined by the Bank) in respect of EURIBOR, the Bank may by notice to the Borrower amend the provision to bring it into line with such other provisions.

If the Screen Rate becomes permanently unavailable, the EURIBOR replacement rate will be the rate (inclusive of any spreads or adjustments) formally recommended by (i) the working group on euro risk-free rates established by the European Central Bank (ECB), the Financial Services and Markets Authority (FSMA), the European Securities and Markets Authority (ESMA) and the European Commission, or (ii) the European Money Market Institute, as the administrator of EURIBOR, or (iii) the competent authority responsible under Regulation (EU) 2016/1011 for supervising the European Money Market Institute, as the administrator of the EURIBOR, or (iv) the national competent authorities designated under Regulation (EU) 2016/1011, or (v) the European Central Bank.

If the Screen Rate becomes permanently unavailable and no EURIBOR replacement rate is formally recommended as provided above, EURIBOR shall be the rate (expressed as a percentage rate per annum) which is determined by the Bank to be the all-inclusive cost to the Bank for the funding of the relevant Tranche based upon the then applicable internally generated Bank reference rate or an alternative rate determination method reasonably determined by the Bank.

Schedule C

Form of Disbursement Offer/Acceptance (Articles 1.2.B and 1.2.C)

Disbursement Offer/Acceptance

Valid until: [time] CET on [date]

From: European Investment Bank

To: [Borrower]

Date:

Subject: Disbursement Offer/Acceptance for the Finance Contract between European Investment Bank and Borrower dated [], 2025 (the "Finance

Contract")

Contract Number FI 91756 Operation Number 2019-0805

Dear Sirs,

We refer to the Finance Contract. Terms defined in the Finance Contract have the same meaning when used in this letter.

Following your request for a Disbursement Offer from the Bank [and the live call held on [date]] in accordance with the relevant provisions of the Finance Contract, and otherwise subject to its terms, we hereby offer to make available to you the following Tranche:

GENERAL

Scheduled Disbursement Date:

Currency of Tranche:

Amount of Tranche:

PRINCIPAL

Repayment periodicity:

Terms for repayment of principal:

First Repayment Date:

Last Repayment Date:

Repayment Dates:

Single Repayment Date:

INTEREST

Interest payment periodicity:

First interest Payment Date:

Payment Dates:

Interest Revision / Conversion Date:

COMMENTS7:

APPLICABLE RATE

Interest Rate basis:

Rate applicable until:

Fixed Rate:

Spread:

EURIBOR:

We hereby accept the above Disbursement Offer for and on behalf of the Borrower:

Name(s) of the Borrower's Authorised Signatory(ies) (as defined in the Finance Contract):

………………………………………………………..………………………………………..

Signature(s) of the Borrower’s Authorised Signatory(ies) (as defined in the Finance Contract):

Date:

Please return the signed Disbursement Acceptance to the following email [ ].

IMPORTANT NOTICE TO THE BORROWER:

BY SIGNING ABOVE YOU CONFIRM THAT THE LIST OF AUTHORISED SIGNATORIES AND

ACCOUNTS PROVIDED TO THE BANK WAS DULY UPDATED PRIOR TO THE PRESENTATION OF

THE ABOVE DISBURSEMENT OFFER BY THE BANK.

IN THE EVENT THAT ANY SIGNATORIES OR ACCOUNTS APPEARING IN THIS DISBURSEMENT

ACCEPTANCE ARE NOT INCLUDED IN THE LATEST LIST OF AUTHORISED SIGNATORIES AND

ACCOUNTS (AS DISBURSEMENT ACCOUNT) RECEIVED BY THE BANK, THE ABOVE

DISBURSEMENT OFFER SHALL BE DEEMED AS NOT HAVING BEEN MADE.

Disbursement Account to be credited:

7 Disbursement Account N°: ………………………………………………………………………………………….

Disbursement Account holder/beneficiary: ………………………………………………………………………

(please, provide IBAN format if the country is included in IBAN Registry published by SWIFT, otherwise an appropriate format in line with the local banking practice should be provided)

Bank name and address: …………………………………………..…………………………….........................

Bank identification code (BIC): ……………………………………………………………………......................

Payment details to be provided: ………………………………………………………………….......................

Schedule D

Interest Rate Revision and Conversion

If an Interest Revision/Conversion Date has been included in the Disbursement Offer for a Tranche, the following provisions shall apply.

A. Mechanics of Interest Revision/Conversion

Upon receiving an Interest Revision/Conversion Request the Bank shall, during the period commencing 60 (sixty) days and ending 30 (thirty) days before the Interest Revision/Conversion Date, deliver to the Borrower an Interest Revision/Conversion Proposal stating:

(a)

the Fixed Rate and/or Spread that would apply to the Tranche, or of its part indicated in the Interest Revision/Conversion Request pursuant to Article 3.1; and

(b)

that such rate shall apply until the Maturity Date or until a new Interest Revision/Conversion Date, if any, and that interest is payable quarterly, semi-annually or annually, in accordance with Article 3.1, in arrear on designated Payment Dates.

The Borrower may accept in writing an Interest Revision/Conversion Proposal by the deadline specified therein. At the Bank’s discretion, an Interest Revision/Conversion Proposal may be subject to live pricing in line with Articles 1.2.B and Article 1.2C.

Any amendment to this Contract requested by the Bank in this connection shall be effected by an agreement to be concluded and effective not later than 1 (one) Business Day prior to (i) sending by the Bank of an Interest Revision/Conversion Proposal or, (ii) having a live pricing call pursuant to the above paragraph.

Fixed Rates and Spreads are available for periods of not less than 4 (four) years or, in the absence of a repayment of principal during that period, not less than 3 (three) years.

B. Effects of Interest Revision/Conversion

If the Borrower duly accepts in writing a Fixed Rate or a Spread in respect of an Interest Revision/Conversion Proposal, the Borrower shall pay accrued interest on the Interest Revision/Conversion Date and thereafter on the designated Payment Dates.

Prior to the Interest Revision/Conversion Date, the relevant provisions of this Contract and Disbursement Offer and Disbursement Acceptance shall apply to the Tranche in its entirety. From and including the Interest Revision/Conversion Date onwards, the provisions contained in the Interest Revision/Conversion Proposal relating to the new Fixed Rate or Spread shall apply to the Tranche (or any part thereof, as indicated in the Interest Revision/Conversion Request) until the new Interest Revision/Conversion Date, if any, or until the Maturity Date.

C. Partial or no Interest Revision/Conversion

In case of a partial Interest Revision/Conversion, the Borrower will repay, without indemnity, on the Interest Revision/Conversion Date the part of the Tranche that is not covered by the Interest Revision/Conversion Request and which is therefore not subject to the Interest Revision/Conversion.

If the Borrower does not submit an Interest Revision/Conversion Request or does not accept in writing the Interest Revision/Conversion Proposal for the Tranche or if the Parties fail to effect an amendment requested by the Bank pursuant to paragraph A above, the Borrower shall repay the Tranche in full on the Interest Revision/Conversion Date, without indemnity.

Schedule E

Certificates to be Provided by the Borrower

Form of Certificate from Borrower (Article 1.4.C)

From: The Republic of Serbia

To: European Investment Bank

Date:

Subject: Finance Contract between European Investment Bank and the Republic of Serbia dated [], 2025 (the "Finance Contract")

Contract Number 91756 Operation Number 2019-0805

Dear Sirs,

Terms defined in the Finance Contract have the same meaning when used in this letter.

For the purposes of Article 1.4 of the Finance Contract we hereby certify to you as follows:

(a)

there has been no material change to any aspect of the Project or in respect of which we are obliged to report under Article 8.1, save as previously communicated by us;

(b)

we have sufficient funds available to ensure the timely completion and implementation of the Project in accordance with Schedule A.1;

(c)

no event or circumstance which constitutes or would with the passage of time or the giving of notice or the making of any determination under the Finance Contract (or any combination of the foregoing) constitute a Prepayment Event or an Event of Default has occurred and is continuing unremedied or unwaived;

(d)

no litigation, arbitration administrative proceedings or investigation is current or to our knowledge is threatened or pending before any court, arbitral body or agency which has resulted or if adversely determined is reasonably likely to result in a Material Adverse Change, nor is there subsisting against us or any of our subsidiaries any unsatisfied judgement or award;

(e)

the representations and warranties to be made or repeated by us under Article 6.12 are true in all respects;

(f)

no Material Adverse Change has occurred, as compared with the situation at the date of the Finance Contract, and

(g)

the most recent List of Authorised Signatories and Accounts provided to the Bank by the Borrower is up-to-date and the Bank may rely on the information set out therein.

We undertake to immediately notify the Bank if any the above fails to be true or correct as of the Disbursement Date for the proposed Tranche.

Yours faithfully,

For and on behalf of the Republic of Serbia

Ugovor — srpski tekstČl. 1.1–12.4

Broj Ugovora (FI N°) 91756 Operativni broj (Serapis N°) 2019-0805

ODRŽIVO UNAPREĐENjE PUTNE MREŽE

EFSD+ Namenski investicioni prozor 1

Finansijski ugovor

između

Republike Srbije

Evropske investicione banke

Beograd, 23. decembar 2025. godine Luksemburg, 23. decembar 2025. godine

UVODNE ODREDBE: .............................................................................................................................

TUMAČENJE I DEFINICIJE ...................................................................................................................

ČLAN 1

1.1 IZNOS KREDITA ........................................................................................................................

1.2 POSTUPAK ISPLATE ................................................................................................................

1.2.A TRANŠE ........................................................................................................................................ 1.2.B PONUDA ZA ISPLATU ...................................................................................................................... 1.2.C PRIHVATANJE ISPLATE ................................................................................................................... 1.2.D RAČUN ZA ISPLATU ........................................................................................................................

1.3 VALUTA ISPLATE ......................................................................................................................

1.4 USLOVI ISPLATE .......................................................................................................................

1.4.A PREDUSLOVI KOD PRVOG ZAHTEVA ZA PONUDU ZA ISPLATU ............................................................. 1.4.B PRVA TRANŠA ............................................................................................................................... 1.4.C SVE TRANŠE .................................................................................................................................

1.5 ODLAGANJE ISPLATE ..............................................................................................................

1.5.A OSNOV ZA ODLAGANJE .................................................................................................................. 1.5.B OTKAZIVANJE ISPLATE ODLOŽENE ZA 6 (ŠEST) MESECI ....................................................................

1.6 OTKAZIVANJE I OBUSTAVA ....................................................................................................

1.6.A PRAVO ZAJMOPRIMCA NA OTKAZIVANJE ......................................................................................... 1.6.B PRAVO BANKE NA OBUSTAVU I OTKAZIVANJE .................................................................................. 1.6.C NAKNADA ZA OBUSTAVU I OTKAZIVANJE TRANŠE .............................................................................

1.7 OTKAZIVANJE NAKON ISTEKA KREDITA ...............................................................................

1.8 IZNOSI KOJI DOSPEVAJU U SKLADU SA ČL. 1.5 I 1.6 ..........................................................

1.9 PROCEDURA ALOKACIJE ........................................................................................................

1.9.A ZAHTEV ZA ALOKACIJU ................................................................................................................... 1.9.B PISMO O ALOKACIJI .......................................................................................................................

1.10 PROCEDURA REALOKACIJE ...................................................................................................

ČLAN 2

2.1 IZNOS ZAJMA ............................................................................................................................

2.2 VALUTA PLAĆANJA ..................................................................................................................

2.3 POTVRDA BANKE .....................................................................................................................

ČLAN 3

3.1 KAMATNA STOPA .....................................................................................................................

3.1.A TRANŠE SA FIKSNOM STOPOM ........................................................................................................ 3.1.B TRANŠE SA VARIJABILNOM STOPOM ................................................................................................ 3.1.C REVIZIJA ILI KONVERZIJA TRANŠI ....................................................................................................

3.2 ZATEZNA KAMATA ...................................................................................................................

3.3 SLUČAJ POREMEĆAJA NA TRŽIŠTU ......................................................................................

ČLAN 4

4.1 REDOVNA OTPLATA ................................................................................................................

4.1.A OTPLATA U RATAMA ...................................................................................................................... 4.1.B JEDNA RATA .................................................................................................................................

4.2 DOBROVOLJNA PREVREMENA OTPLATA .............................................................................

4.2.A IZBOR PREVREMENE OTPLATE ........................................................................................................ 4.2.B NAKNADA ZA PREVREMENU OTPLATU ............................................................................................. 4.2.C MEHANIKA PREVREMENE OTPLATE ................................................................................................. 4.2.D ADMINISTRATIVNA NAKNADA ..........................................................................................................

4.3 OBAVEZNA PREVREMENA OTPLATA I OTKAZIVANJE ........................................................

4.3.A SLUČAJEVI PREVREMENE OTPLATE ................................................................................................ 4.3.B MEHANIKA PREVREMENE OTPLATE ................................................................................................. 4.3.C NAKNADA ZA PREVREMENU OTPLATU .............................................................................................

4.4 OPŠTE ODREDBE .....................................................................................................................

4.4.A BEZ UTICAJA NA ČLAN 10. .............................................................................................................. 4.4.B ZABRANA PONOVNOG POZAJMLJIVANJA ..........................................................................................

ČLAN 5

5.1 KONVENCIJA O BROJANJU DANA ..........................................................................................

5.2 VREME I MESTO PLAĆANJA ...................................................................................................

5.3 BEZ PRAVA NA KOMPENZACIJU ZAJMOPRIMCA .................................................................

5.4 POREMEĆAJ U SISTEMIMA ZA PLAĆANJE ...........................................................................

5.5 PRIMENA PRIMLJENIH IZNOSA ..............................................................................................

5.5.A OPŠTE ......................................................................................................................................... 5.5.B DELIMIČNA PLAĆANJA .................................................................................................................... 5.5.C RASPODELA IZNOSA KOJI SE ODNOSE NA TRANŠE ...........................................................................

ČLAN 6

A. OBAVEZE IZ PROJEKTA ..................................................................................................................

6.1 KORIŠĆENJE ZAJMA I RASPOLOŽIVOST DRUGIH SREDSTAVA ........................................

6.2 ZAVRŠETAK PROJEKTA ..........................................................................................................

6.3 UVEĆANI TROŠKOVI PROJEKTA ............................................................................................

6.4 PROCEDURA NABAVKE ...........................................................................................................

6.5 TRAJNE OBAVEZE U VEZI SA PROJEKTOM ..........................................................................

6.6 DODATNE OBAVEZE ................................................................................................................

B. OPŠTE OBAVEZE .............................................................................................................................

6.7 POŠTOVANJE ZAKONA ............................................................................................................

6.8 PROMENA U POSLOVANJU .....................................................................................................

6.9 POSLOVNE KNJIGE I EVIDENCIJE .........................................................................................

6.10 INTEGRITET ..............................................................................................................................

6.11 ZAŠTITA PODATAKA ................................................................................................................

6.12 OPŠTE IZJAVE I GARANCIJE ...................................................................................................

6.13 SUKOB INTERESA ....................................................................................................................

ČLAN 7

7.1 PARI PASSU RANGIRANJE ......................................................................................................

7.2 DODATNO OBEZBEĐENJE ......................................................................................................

7.3 KLAUZULE PO UNOSU .............................................................................................................

ČLAN 8

8.1 INFORMACIJE O PROJEKTU ...................................................................................................

8.2 INFORMACIJE O ZAJMOPRIMCU ............................................................................................

8.3 POSETE, PRAVO NA PRISTUP I ISTRAGU ............................................................................. 8.4 OBJAVLJIVANJE I PUBLIKOVANJE .........................................................................................

ČLAN 9

9.1 POREZI, DAŽBINE I NAKNADE ................................................................................................

9.2 OSTALI TROŠKOVI ...................................................................................................................

9.3 UVEĆANI TROŠKOVI, NAKNADA I KOMPENZACIJA .............................................................

ČLAN 10

10.1 PRAVO NA ZAHTEVANJE OTPLATE .......................................................................................

10.1.A HITAN ZAHTEV .............................................................................................................................. 10.1.B ZAHTEV NAKON OBAVEŠTENJA O PRAVNOM LEKU ............................................................................

10.2 OSTALA PRAVA PO ZAKONU ..................................................................................................

10.3 NAKNADA ..................................................................................................................................

10.3.A TRANŠE SA FIKSNOM STOPOM ........................................................................................................ 10.3.B OPŠTE .........................................................................................................................................

10.4 NEODRICANJE ..........................................................................................................................

ČLAN 11

11.1 MERODAVNO PRAVO ..............................................................................................................

11.2 NADLEŽNOST............................................................................................................................

11.3 MESTO ISPUNJENJA ................................................................................................................

11.4 DOKAZ O DOSPELIM IZNOSIMA .............................................................................................

11.5 CELOVITOST UGOVORA .........................................................................................................

11.6 NIŠTAVOST ...............................................................................................................................

11.7 IZMENE I DOPUNE ....................................................................................................................

11.8 PRIMERCI ..................................................................................................................................

ČLAN 12

12.1 OBAVEŠTENJA .........................................................................................................................

12.1.A FORMA OBAVEŠTENJA ................................................................................................................... 12.1.B ADRESE ....................................................................................................................................... 12.1.C OBAVEŠTENJE O DETALJIMA KOMUNIKACIJE ....................................................................................

12.2 ENGLESKI JEZIK .......................................................................................................................

12.3 STUPANJE NA SNAGU OVOG UGOVORA ..............................................................................

12.4 UVODNE ODREDBE, PRILOZI I ANEKSI .................................................................................

PRILOG A

TEHNIČKI OPIS ......................................................................................................................................

PRILOG B

DEFINICIJA EURIBOR-A ........................................................................................................................

PRILOG C

OBRAZAC PONUDE/PRIHVATANJA ZA ISPLATU (ČL. 1.2.B I 1.2.C) .................................................

PRILOG D

REVIZIJA I KONVERZIJA KAMATNE STOPE .......................................................................................

PRILOG E

OBRASCI KOJE OBEZBEĐUJE ZAJMOPRIMAC ...............................................................

OVAJ UGOVOR JE ZAKLjUČEN IZMEĐU:

Republike Srbije, koju predstavlja („Zajmoprimac”) G. Siniša Mali, prvi potpredsednik Vlade i ministar finansija, u ime Vlade, kao zastupnika Republike Srbije,

sa jedne strane, i

Evropske investicione banke, sa („Banka”) sedištem u Luksemburgu, Bulevar Konrada Adenauera 100, L-2950 Luksemburg,

sa druge strane,

Banka i Zajmoprimac zajedno su označeni kao „Strane” i svako od njih je „Strana”.

IMAJUĆI U VIDU DA JE:

(a)

Zajmoprimac, koga zastupa Ministarstvo finansija Republike Srbije (MF), izjavio da, postupajući preko i u saradnji sa (i) Ministarstvom građevinarstva, saobraćaja i infrastrukture (MGSI) (u daljem tekstu: „Promoter”) i (ii) javnim privrednim društvom koje je osnovano i posluje u Republici Srbiji (Odluka o osnivanju Javnog preduzeća za upravljanje državnim putevima broj 023/8228/2005, od 22. decembra 2005. godine i objavljena u „Službenom glasniku RS”, broj 115/05) pod korporativnim nazivom Javno preduzeće „Putevi Srbije” (u daljem tekstu: „Izvršilac projekta”, kako je bliže objašnjeno ispod), sprovodi projekat za podršku održivom regionalnom razvoju različitih područja u Srbiji, posebno obuhvatajući deonice puteva koje će biti identifikovane putem intervencija višekriterijumskih provera (svaka operacija je „Šema” ili „Pod-projekat” a zajedno „Projekat”), kao što je detaljnije opisano u tehničkom opisu izloženom u Prilogu A ovog ugovora (u daljem tekstu: „Tehnički opis”). Jedinica za implementaciju projekta (u daljem tekstu: „JIP”) biće formirana na nivou Izvršioca projekta i može uključivati predstavnike Promotera koji će pomoći u upravljanju Projektom. Zajmoprimac je izjavio da će Izvršilac projekta biti zadužen za sprovođenje Projekta pod nadzorom Promotera, posebno u vezi sa njegovim tehničkim delom i povezanim postupcima nabavke.

(b)

Ukupan trošak Projekta, kako Banka procenjuje, iznosi 300.000.000,00 evra (trista miliona evra) i Zajmoprimac je izjavio da namerava da finansira Projekat na sledeći način:

Izvor Iznos (EUR miliona)

Kredit Banke po osnovu ovog ugovora 150,00

Drugi izvori finansiranja 150,00

UKUPNO 300,00

(c)

Finansiranje prema ovom ugovoru, obezbeđeno u skladu sa Evropskim fondom za održivi razvoj plus (eng. European Fund for Sustainable Development Plus, u daljem tekstu: „EFSD+”), integrisanim finansijskim paketom koji obezbeđuje finansijske doprinose u obliku donacija, budžetskih garancija i finansijskih instrumenata širom sveta; a posebno u okviru ekskluzivnog investicionog prozora za operacije sa suverenim partnerima i nekomercijalnim podsuverenim partnerima prema članu 36.1 Uredbe NDICI-GE („EFSD+ DIW1”). U skladu sa članom 36.8 Uredbe NDICI-GE, 29. aprila 2022. godine, Banka i Evropska unija, koju zastupa Evropska komisija, zaključile su ugovor o garanciji EFSD+ (u daljem tekstu: „EFSD+ DIW1 Ugovor o garanciji”) kojim je Evropska unija odobrila Banci sveobuhvatnu garanciju za kvalifikovane finansijske operacije Banke u vezi sa projektima koji se sprovode u zemljama unutar geografskih oblasti navedenih u članu 4(2) Uredbe NDICI-GE i Aneksu I Uredbe IPA III (u daljem tekstu: „EFSD+ DIW1 garancija”). Republika Srbija je zemlja koja ispunjava uslove u skladu sa Uredbom NDICI-GE i Uredbom IPA III.

(d)

Republika Srbija 11. maja 2009. godine zaključila sa Bankom okvirni sporazum koji reguliše aktivnosti Banke na teritoriji Republike Srbije (u daljem tekstu: „Okvirni sporazum”). Potpisivanjem ovog ugovora, Zajmoprimac daje svoj formalni pristanak, u skladu sa članom 2. Okvirnog sporazuma, da finansiranje po osnovu ovog ugovora spada u delokrug Okvirnog sporazuma.

(e)

Zajmoprimac, u cilju realizacije finansijskog plana navedenog u stavu (b) Preambule, zatražio od Banke kredit u ukupnom iznosu do 150.000.000,00 evra (sto pedeset miliona evra).

(f)

Banka, s obzirom da finansiranje Projekta spada u delokrug njenih delatnosti i imajući u vidu izjave i činjenice navedene u ovoj preambuli, odlučila da odobri zahtev Zajmoprimca i dodeli mu kredit u iznosu do 150.000.000,00 evra (sto pedeset miliona evra) prema ovom finansijskom ugovoru (u daljem tekstu: „Ugovor”); pod uslovom da kumulativni iznos kredita Banke u okviru ovog projekta ni u kom slučaju ne prelazi 50% (pedeset procenata) ukupnog troška Projekta navedenog u tački (b) Preambule.

(g)

Zajmoprimac odobrio zaduživanje u iznosu do 150.000.000,00 evra (sto pedeset miliona evra), koje predstavlja ovaj kredit prema uslovima datim u ovom ugovoru.

(h)

Statut Banke omogućio Banci da osigura da se njena sredstva koriste što racionalnije i u interesu Evropske unije; i, u skladu s tim, termini i uslovi zajmovnih operacija Banke moraju biti usklađeni sa odgovarajućim politikama Evropske unije.

(i)

Prema shvatanju Banke, pristup informacijama od suštinskog značaja za smanjenje ekoloških i socijalnih rizika, uključujući i kršenja ljudskih prava, koji su vezani za projekte koje ona finansira i stoga je utvrdila svoju politiku transparentnosti, čija je svrha da unapredi odgovornost grupacije Banke prema svojim zainteresovanim stranama.

(j)

Banka podržala primenu međunarodnih standarda i standarda Evropske unije u oblasti borbe protiv pranja novca i finansiranja terorizma i da promoviše standarde dobrog poreskog upravljanja. Banka je uvela politike i procedure u cilju izbegavanja rizika od zloupotrebe svojih sredstava u nezakonite svrhe ili protivno važećim propisima. Izjava grupacije Banke o poreskim prevarama, utaji poreza, izbegavanju poreza, agresivnom poreskom planiranju, pranju novca i finansiranju terorizma dostupna je na veb stranici Banke i nudi dalje smernice ugovornim stranama Banke1

(k)

Banka uspostavila sveobuhvatni politički okvir koji omogućava grupaciji Banke da se fokusira na održivi i inkluzivni razvoj, obavezujući se na pravednu i pravičnu tranziciju i podržavanjem tranzicije ka ekonomijama i zajednicama koje su otporne na klimu i katastrofe, niske emisije ugljenika, ekološki prihvatljive i resursno efikasnije. Okvir politika uključuje Ekološku i socijalnu politiku EIB Grupe i EIB ekološke i socijalne standarde. Ekološka i socijalna politika EIB Grupe i EIB ekološki i socijalni standardi dostupni su na veb stranici Banke i nude dalje smernice ugovornim stranama Banke.

I S TIM U VEZI je dogovoreno sledeće:

TUMAČENjE I DEFINICIJE

Tumačenje

U ovom ugovoru:

(a)

pozivanja na „Članove”, „Stavove Preambule”, „Priloge” i „Anekse” predstavljaju, ukoliko nije izričito drugačije ugovoreno, pozivanja na članove i stavove Preambule, priloge i anekse ovog ugovora;

(b)

pozivanja na „zakon” ili „zakone” znači:

(i)

bilo koje merodavno pravo i bilo koji važeći međunarodni ugovor, ustav, statut, zakon, ukaz, normativni akt, pravilo, propis, presuda, naredba, sudska zabrana, odluka, nagrada ili druga zakonodavna ili administrativna mera ili sudska ili arbitražna odluka u bilo kojoj jurisdikciji koja je obavezujuća ili se primenjuje na sudsku praksu; i

(ii) Pravo EU;

(c)

pozivanja na „važeći zakon”, „važeće zakone” ili „važeću nadležnost” znači:

(i)

zakon ili nadležnost koja je važeća za Zajmoprimca, njegova prava i/ili obaveze (koji u svakom slučaju proističu iz ili u vezi sa ovim ugovorom), njegov kapacitet i/ili imovinu i/ili Projekat; i/ili, kada je primenjivo

(ii) zakon ili nadležnost (uključujući u svakom slučaju statut Banke) koji su važeći za Banku, njena prava, obaveze, kapacitet i/ili imovinu;

(d)

pozivanja na odredbu zakona ili međunarodnog ugovora su pozivanja na tu odredbu onako kako je izmenjena i dopunjena ili ponovno doneta;

1 http://www.eib.org/about/compliance/tax-good-governance/index.htm?f=search&media=search

(e)

pozivanja na bilo koji drugi sporazum ili instrument su pozivanja na taj drugi sporazum ili instrument onako kako je izmenjen, noviran, dopunjen, proširen ili ponovo zaključen;

(f)

reči i izrazi u množini uključuju jedninu i obrnuto; i

(g)

pozivanja na „mesec” označavaju period koji počinje jednog dana u kalendarskom mesecu i završava se na numerički odgovarajući dan u sledećem kalendarskom mesecu, osim u slučaju i kada podleže definiciji Datuma plaćanja, člana 5.1 i Priloga B i ako nije drugačije predviđeno ovim ugovorom:

(i)

ako numerički odgovarajući dan nije Radni dan, taj period će se završiti narednog Radnog dana u tom kalendarskom mesecu u kojem taj period treba da se završi ako postoji, ili ako ga nema, na prvi prethodni Radni dan; i

(ii) ako ne postoji numerički odgovarajući dan u kalendarskom mesecu u kojem taj period treba da se završi, taj period će se završiti poslednjeg Radnog dana u tom kalendarskom mesecu; i

(h)

pozivanje u ovom ugovoru na stranicu ili prikaz informativne usluge koja prikazuje stopu će uključivati:

(i)

svaku zamensku stranicu te informativne usluge koja prikazuje tu stopu; i

(ii) odgovarajuću stranicu te druge informativne usluge koja povremeno prikazuje tu stopu umesto te informativne usluge,

i, ukoliko takva stranica ili usluga prestanu da budu dostupne, uključiće bilo koju drugu stranicu ili uslugu koja prikazuje tu stopu koju je odredila Banka.

Definicije

U ovom ugovoru:

„Prihvaćena tranša” označava tranšu za koju je Zajmoprimac blagovremeno prihvatio Ponudu za isplatu u skladu sa njenim uslovima na ili pre Roka za prihvatanje isplate.

„Dogovoreni odloženi datum isplate” ima značenje koje mu je dato u članu 1.5.A(2)(b).

„Procedura alokacije” ima značenje koje mu je dato u članu 1.9.

„Pismo o alokaciji” ima značenje koje mu je dato u članu 1.9.

„Zahtev za alokaciju” ima značenje koje mu je dato u članu 1.9.

„AML Direktive” označava (i) Direktivu (EU) br. 2015/849 Evropskog parlamenta i Saveta od

20. maja 2015. godine o sprečavanju korišćenja finansijskog sistema u svrhe pranja novca ili finansiranja terorizma kojom se menja Uredba (EU) br. 648/2012 Evropskog parlamenta i Saveta i stavlja van snage Direktiva br. 2005/60/EC Evropskog parlamenta i Saveta, kao i Direktivu Komisije br. 2006/70/EC, sa povremenim izmenama, dopunama i zamenama i (ii) Direktivu br. 2018/843 Evropskog parlamenta i Saveta od 19. juna 2018. godine o sprečavanju pranja novca i finansiranja terorizma sa povremenim izmenama, dopunama i zamenama.

„Odobrenje(a)” označava ovlašćenje, dozvolu, saglasnost, pristanak, odluku, licencu, izuzeće, podnesak, notarizaciju ili registraciju.

„Ovlašćeni potpisnik” označava lice koje je ovlašćeno da potpisuje individualno ili zajednički (zavisno od slučaja) Prihvatanja isplate u ime Zajmoprimca, a koje je navedeno u najskorijoj Listi ovlašćenih potpisnika i računa koju je Banka primila pre prijema konkretnog Prihvatanja isplate.

„Radni dan” označava dan (koji nije subota ili nedelja) na koji su Banka i poslovne banke otvorene za redovno poslovanje u Luksemburgu i Beogradu.

„Otkazana Tranša” ima značenje navedeno u članu 1.6.C(2).

„Promena stvarnog vlasništva” označava promenu krajnjeg vlasništva ili kontrole entiteta u skladu sa definicijom „stvarnog vlasnika” navedenom u članu 3(6) Direktive 2015/849 Evropskog parlamenta i Saveta od 20. maja 2015. godine o sprečavanju korišćenja finansijskog sistema u svrhe pranja novca ili finansiranja terorizma sa izmenama, dopunama i povremenim zamenama.

„Slučaj izmene zakona” ima značenje navedeno u članu 4.3.A(3).

„Bliski saradnik(ci)” označava „lica za koje se zna da su bliski saradnici” kao što je definisano u AML Direktivama.

„Ugovor” ima značenje navedeno u stavu (f) Preambule.

„Broj Ugovora” označava generisani broj kojim je Banka identifikovala ovaj ugovor i koji je naznačen na naslovnoj strani ovog ugovora posle slova „FI N°”.

„Kredit” ima značenje navedeno u članu 1.1.

„Datum stupanja na snagu” ima značenje navedeno u članu 12.3.

„Izjava časti” označava „Izjavu časti” prema EFSD+ koju je potpisao Zajmoprimac na dan 19. decembar 2025. godine.

„Naknada za odlaganje” označava naknadu obračunatu na iznos Prihvaćene Tranše koja je odložena ili obustavljena po stopi koja je viša od:

(a)

0,125% (12,5 baznih poena), godišnje; i

(b)

procentualne stope kojom:

(i)

kamatna stopa, koja bi bila primenjiva na takvu Tranšu da je ista isplaćena Zajmoprimcu na Zakazani datum isplate, prevazilazi

(ii) EURIBOR (jednomesečna stopa) umanjen za 0,125% (12,5 baznih poena), osim ako je takva stopa manja od nule, u kom slučaju ona iznosi nula.

Takva naknada će se obračunavati od Zakazanog datuma isplate do Datuma isplate ili, kao što može biti slučaj, do datuma otkazivanja Prihvaćene tranše u skladu sa ovim ugovorom.

„Prihvatanje isplate” označava primerak Ponude za isplatu uredno potpisane od strane Zajmoprimca u skladu sa Listom ovlašćenih potpisnika i računa.

„Rok za prihvatanje isplate” označava datum i vreme kada ističe Ponuda za isplatu, kako je ponudom definisano.

„Račun za isplatu” označava, u pogledu svake Tranše, račun na koji se isplate mogu doznačiti prema ovom ugovoru, kako je naznačeno u najskorijoj Listi ovlašćenih potpisnika i računa.

„Datum isplate” označava datum kada je Banka izvršila isplatu Tranše.

„Ponuda za isplatu” označava pismo, suštinski, u formi propisanoj Prilogom C.

„Spor” ima značenje koje mu je dato u članu 11.2.

„Slučaj poremećaja” ima jedno ili oba od sledećih značenja:

(a)

materijalni poremećaj onih sistema plaćanja ili komunikacionih sistema ili finansijskih tržišta, čije je funkcionisanje, u bilo kom slučaju, neophodno za izvršavanje plaćanja vezanih za ovaj ugovor; ili

(b)

pojava bilo kojeg drugog događaja koji ima za rezultat poremećaj (tehničke ili sistemske prirode) funkcionisanja trezora ili plaćanja bilo Banke, bilo Zajmoprimca, koji sprečava tu Stranu da:

(i)

izvrši svoje obaveze isplate prema ovom ugovoru; ili

(ii) komunicira sa drugom Stranom,

i kada poremećaj (bilo u slučaju (a) ili (b) gore) nije uzrokovala nijedna Strana i van je kontrole Strane čiji je rad poremećen.

„EFSD+” ima značenje koje mu je dato u stavu (c) Preambule.

„EFSD+ DIW1” ima značenje koje mu je dato u stavu (c) Preambule.

„EFSD+ DIW1 garancija” ima značenje koje mu je dato u stavu (c) Preambule. „EFSD+ DIW1 Ugovor o garanciji” ima značenje koje mu je dato u stavu (c) Preambule.

„EIB ekološki i socijalni standardi” označavaju EIB ekološke i socijalne standarde iz 2022. godine koji su objavljeni na veb stranici Banke i koji opisuju ekološke i socijalne zahteve koje moraju da ispune svi projekti koje finansira EIB, kao i odgovornosti različitih strana, uključujući Zajmoprimca.

„Životna sredina” označava sledeće:

(a)

faunu i floru, žive organizme uključujući i ekološke sisteme;

(b)

zemljište, tlo, vodu (uključujući morske i obalne vode), vazduh, klimu i predeo (prirodne ili veštačke strukture, bilo iznad ili ispod zemlje);

(c)

kulturnu baštinu (prirodnu, materijalnu i nematerijalnu);

(d)

izgrađenu okolinu; i

(e)

ljudsko zdravlje i blagostanje.

„Ekološka i socijalna studija procene uticaja” označava studiju ili izveštaj kao rezultat procene uticaja na životnu sredinu i društvo, koja identifikuje i procenjuje verovatne značajne uticaje na životnu sredinu i društvo i/ili rizike povezane sa predloženim projektom i preporučuje mere za izbegavanje, umanjenje i/ili otklanjanje bilo kakvih uticaja i/ili rizika. Ova studija je predmet javnih konsultacija sa direktnim i indirektnim zainteresovanim stranama projekta.

„Ekološki i socijalni dokumenti” označavaju Ekološku i socijalnu studiju procene uticaja i ekološke dozvole ili odluku o pregledu od nadležnog organa Srbije, ili bilo koji drugi dokument sa ekvivalentnim dejstvom koji može biti potreban u skladu sa Zakonom o zaštiti životne sredine.

„Ekološki i socijalni standardi” označavaju:

(a)

Ekološke zakone i Socijalne zakone koji su primenjivi na Projekat ili Zajmoprimca;

(b)

Ekološke i socijalne standarde EIB-a; i

(c)

Ekološka i socijalna dokumenta.

„Ekološka ili socijalna dozvola” označava svako Odobrenje koje je potrebno u skladu sa Ekološkim ili Socijalnim zakonom, a u vezi sa izgradnjom ili funkcionisanjem Projekta.

„Ekološka ili socijalna tužba” označava bilo koju tužbu, postupak, zvanično obaveštenje ili istragu od strane bilo kog lica u pogledu bilo kojih kršenja ili navodnih kršenja bilo kojih Ekoloških ili socijalnih standarda.

„Ekološki zakon” označava:

(a)

pravo EU, uključujući principe i standarde, osim bilo kog odstupanja koje Banka prihvati za potrebe ovog ugovora, koje se zasniva na bilo kom sporazumu između Republike Srbije i EU;

(b)

zakone i propise Republike Srbije; i

(c)

međunarodne ugovore i konvencije, potpisane i ratfikovane, ili na drugi način primenljive i obavezujuće za Republiku Srbiju,

u svakom slučaju, čiji je glavni cilj očuvanje, zaštita ili unapređenje Životne sredine.

„Pravo EU” označava pravnu tekovinu (fra. acquis communautaire) Evropske unije izraženu kroz Ugovore Evropske unije, propise, direktive, delegirane akta, akte za implementaciju i sudsku praksu Suda pravde Evropske unije.

„EUR” ili „evro” označava zakonitu valutu Država članica Evropske unije koju usvajaju ili su usvojile kao njihovu valutu, u skladu sa odgovarajućim odredbama Ugovora o Evropskoj uniji i Ugovora o funkcionisanju Evropske unije.

„EURIBOR” ima značenje koje mu je dato u Prilogu B.

„Slučaj neispunjenja obaveza” označava bilo koju od okolnosti, događaja ili dešavanja navedenih u članu 10.1. „Član(ovi) porodice” ima značenje koje je tom pojmu dato u AML Direktivama.

„Krajnji datum raspoloživosti” označava datum koji pada 60 (šezdeset) meseci nakon Datuma stupanja na snagu, a ukoliko takav datum nije Odgovarajući radni dan, onda prethodni Odgovarajući radni dan.

„Finansiranje terorizma” označava obezbeđivanje ili prikupljanje finansijskih sredstava, na bilo koji način, direktno ili indirektno, sa namerom da se koriste ili sa saznanjem da će se koristiti, u potpunosti ili delimično, u cilju vršenja prekršaja navedenih u Direktivi (EU) br. 2017/541 Evropskog parlamenta i Saveta od 15. marta 2017. godine o borbi protiv terorizma koja zamenjuje Okvirnu odluku Saveta br. 2002/475/JHA i menja Odluku Saveta 2005/671/JHA (koja je povremeno izmenjena, zamenjena ili ponovo doneta).

„Finansijska uredba” označava Uredbu (EU, Euratom) br. 2024/2509 Evropskog parlamenta i Saveta od 23. septembra 2024. godine o finansijskim pravilima koja se primenjuju na opšti budžet Unije (preinačena) (OJ L 239, 26.9.2024, str. 1).

„Fiksna stopa” označava godišnju kamatnu stopu koju utvrdi Banka u skladu sa važećim principima koju povremeno propisuju upravni organi Banke za zajmove date po fiksnoj kamatnoj stopi, koja je izražena u valuti Tranše i koja nosi jednake uslove za otplatu glavnice i plaćanje kamate. Takva stopa neće imati negativnu vrednost.

„Tranša sa fiksnom stopom” označava Tranšu na koju se primenjuje Fiksna stopa.

„Varijabilna stopa” označava varijabilnu godišnju kamatnu stopu sa fiksnom Maržom koju određuje Banka za svaki sledeći Referentni period za varijabilnu stopu, jednaku EURIBOR-u uvećanom za Maržu. Ako je Varijabilna stopa za bilo koji Referentni period za varijabilnu stopu ispod nule, biće određena kao nula.

„Referentni period za varijabilnu stopu” označava svaki period od jednog Datuma plaćanja do sledećeg odgovarajućeg Datuma plaćanja; prvi Referentni period za varijabilnu stopu će započeti na Datum isplate Tranše i završiti se na prvi Datum plaćanja, osim ako je taj period 15 (petnaest) dana ili manje, u kom slučaju prvi Referentni period za varijabilnu stopu završava se na sledeći (drugi) Datum plaćanja nakon Datuma isplate tranše, a primenljivi EURIBOR za taj period određuje se u skladu sa Prilogom B - Definicija EURIBOR-a.

„Tranša sa varijabilnom stopom” označava Tranšu na koju se primenjuje Varijabilna stopa.

„Okvirni sporazum” ima značenje definisano u stavu (d) Preambule.

„GAAP” označava Opšte prihvaćene računovodstvene principe u Republici Srbiji, uključujući IFRS.

„Vodič za javne nabavke” označava Vodič za javne nabavke objavljen na sajtu2 Evropske investicione banke, koji informiše promotere projekata finansiranih u potpunosti ili delimično od strane Evropske investicione banke o aranžmanima koji treba da se sačine u cilju nabavke radova, dobara i usluga potrebnih za Projekat.

„IFRS” označava međunarodne računovodstvene standarde u smislu MRS Uredbe br. 1606/2002 u meri u kojoj je to primenljivo na konkretne finansijske izveštaje.

„Slučaj nezakonitostiˮ ima značenje definisano u članu 4.3.A(4).

„MOR” označava Međunarodnu organizaciju rada.

„MOR standardi” označavaju svaki međunarodni ugovor, konvenciju ili sporazum MOR-a koji je potpisan i ratifikovan ili je na drugi način primenljiv i obavezuje Republiku Srbiju, kao i Osnovne radne standarde (kako je definisano Deklaracijom MOR-a o osnovnim principima i pravima na radu).

„Izvršilac projekta” ima značenje koje mu je dato u stavu (a) Preambule.

2 https://www.eib.org/en/publications/20240132-guide-to-procurement-for-projects-financed-by-the-eib; Molimo vas da imate u vidu da se pozivanje odnosi na verziju Vodiča za javne nabavke koja je na snazi u vreme kada počinje relevantni postupak javne nabavke za ugovor koji ispunjava uslove za finansiranje u skladu sa ovim ugovorom. „Slučaj prevremenog plaćanja sa naknadom” označava Slučaj prevremene otplate koji je drugačiji od Slučaja prevremene otplate kod finansiranja koje nije od strane EIB-a ili Slučaj nezakonitosti.

„Revizija/konverzija kamate” označava utvrđivanje novih finansijskih uslova u vezi sa kamatnom stopom, posebno reviziju osnovice iste kamatne stope („revizija”) ili promenu osnovice kamatne stope („konverzija”) koja se može ponuditi za preostali period Tranše ili do narednog Datuma revizije/konverzije kamate, ukoliko postoji.

„Datum revizije/konverzije kamate” označava datum koji će biti Datum plaćanja naveden od strane Banke u Ponudi za isplatu.

„Predlog za reviziju/konverziju kamate” označava predlog Banke u skladu sa Prilogom D.

„Zahtev za reviziju/konverziju kamate” označava pisano obaveštenje od strane Zajmoprimca koje je dostavljeno najmanje 75 (sedamdeset pet) dana pre Datuma revizije/konverzije kamate, kojim se od Banke zahteva da dostavi Predlog za reviziju/konverziju kamate. U Zahtevu za reviziju/konverziju kamate takođe će biti navedeni:

(a)

Datumi plaćanja izabrani u skladu sa odredbama člana 3.1;

(b)

iznos Tranše na koju će se primenjivati Revizija/konverzija kamate; i

(c)

svi dodatni Datumi revizije/konverzije kamate izabrani u skladu sa članom 3.1.

„Uredba IPA III” označava Uredbu (EU) br. 2021/1529 Evropskog parlamenta i Saveta od 15. septembra 2021. godine o uspostavljanju Instrumenta za pretpristupnu pomoć (IPA III).

„Lista ovlašćenih potpisnika i računa” označava listu, u formi i sadržini koja je zadovoljavajuća za Banku, kojom su određeni:

(a)

Ovlašćeni potpisnici, praćeni dokazom potpisa organa lica navedenih u listi, uz navođenje da li imaju individualno ili kolektivno ovlašćenje;

(b)

primeri potpisa tih lica;

(c)

bankarski račun(i) preko kojeg(ih) se vrše isplate po ovom ugovoru (naveden IBAN kod ukoliko je država uključena u IBAN registar koji je objavljen od strane SWIFT, ili odgovarajući format računa u skladu sa lokalnom bankarskom praksom), BIC/SWIFT kod banke i naziv korisnika bankarskog(ih) računa, zajedno sa dokazima da su takvi računi otvoreni u ime korisnika; i

(d)

bankarski račun(i) sa kojeg(ih) će Zajmoprimac vršiti plaćanja po ovom ugovoru (naveden IBAN kod ako je zemlja uključena u IBAN registar koji je objavljen od strane SWIFT, ili odgovarajući format računa u u skladu sa lokalnom bankarskom praksom), BIC/SWIFT kod banke i naziv korisnika bankovnog računa, zajedno sa dokazima da su takvi računi otvoreni na ime korisnika.

„Tranša sa aktuelnim cenama” ima značenje dato u članu 1.2.B (b).

„Zajam” označava zbir iznosa koje Banka povremeno isplaćuje prema ovom ugovoru.

„Neizmireni zajam” označava zbir iznosa koje Banka povremeno isplaćuje po ovom ugovoru, a koji su ostali neizmireni.

„Slučaj poremećaja na tržištu” označava bilo koju od sledećih okolnosti:

(a)

prema razumnom mišljenju Banke, nastupili su događaji ili okolnosti koji negativno utiču na pristup Banke njenim izvorima finansiranja;

(b)

prema mišljenju Banke, sredstva nisu dostupna iz Bančinih redovnih izvora finansiranja za odgovarajuće finansiranje Tranše u odgovarajućoj valuti i/ili za odgovarajuće dospeće i/ili u odnosu na profil otplate takve Tranše; ili

(c)

u vezi sa Tranšom po Varijabilnoj stopi:

(i)

trošak za Banku za pribavljanje sredstava iz svojih izvora finansiranja, koji je određen od strane Banke, za period jednak Referentnom periodu za varijabilnu stopu takve Tranše (odnosno, na tržištu novca) će prevazići primenjivi EURIBOR; ili

(ii) Banka utvrdi da ne postoje adekvatna i pravedna sredstva za utvrđivanje primenjivog EURIBOR-a za konkretnu valutu takve Tranše.

„Materijalno štetna promena” označava bilo koji događaj ili promenu uslova koji, prema mišljenju Banke, imaju materijalno štetan efekat na:

(a)

sposobnost Zajmoprimca da izvršava svoje obaveze prema ovom ugovoru; ili

(b)

finansijske uslove ili izglede Zajmoprimca.

„Datum dospeća” označava poslednji Datum otplate Tranše određen u skladu sa članom 4.1.A(b)(iv) ili jedini Datum otplate Tranše određen u skladu sa članom 4.1.B.

„MGSI” označava Ministarstvo građevinarstva, saobraćaja i infrastrukture Republike Srbije ili njegovog pravnog sledbenika.

„Pranje novca” označava:

(a)

konverziju ili prenos imovine, uz znanje da je takva imovina proistekla iz kriminalnih radnji ili učestvovanjem u takvim aktivnostima, u cilju sakrivanja ili prikrivanja nezakonitog porekla imovine ili pružanja pomoći licu koje učestvuje u vršenju takve aktivnosti radi izbegavanja zakonskih posledica svog postupanja;

(b)

sakrivanje ili prikrivanje prave prirode, izvora, lokacije, pozicije, kretanja, prava u pogledu, ili vlasništva nad imovinom, uz znanje da data imovina proističe iz kriminalne radnje ili iz učestvovanja u takvim aktivnostima;

(c)

pribavljanje, posedovanje ili korišćenje imovine, znajući, u trenutku primanja, da je takva imovina proizašla iz kriminalne radnje ili iz čina učešća u istoj; ili

(d)

učešća u, udruživanje radi vršenja, pokušaja vršenja i pomaganje, podsticanje, olakšavanje i savetovanje da se izvrši bilo koja od radnji pomenutih u prethodnim tačkama.

„Uredba NDICI-GEˮ označava Uredbu (EU) br. 2021/947 Evropskog parlamenta i Saveta od

9. juna 2021. godine o uspostavljanju Instrumenta za susedstvo, razvoj i međunarodnu saradnju - Globalna Evropa (eng. Neighbourhood, Development and International Cooperation Instrument - Global Europe).

„Finansiranje koje nije od strane EIB” ima značenje dodeljeno u članu 4.3.A(2).

„Slučaj prevremene otplate finansiranja koje nije od strane EIB” ima značenje dodeljeno u članu 4.3.A(2).

„Račun za plaćanje” označava bankarski račun sa kojeg će Zajmoprimac vršiti plaćanja po ovom ugovoru, kao što je navedeno u najnovijoj Listi ovlašćenih potpisnika i računa.

„Datum plaćanja” označava godišnje, polugodišnje ili kvartalne datume koji su navedeni u Ponudi za isplatu do i uključujući Datum revizije/konverzije kamate, ukoliko postoji, ili Datuma dospeća, osim u slučaju da bilo koji takav datum nije Odgovarajući radni dan, to znači:

(a)

za Tranšu sa fiksnom stopom bilo:

(i)

sledeći Odgovarajući radni dan, bez korekcije kamate dospele prema članu 3.1; ili

(ii) prethodni Odgovarajući radni dan sa korekcijom (ali samo na iznos dospele kamate po članu 3.1 koja je nastala tokom poslednjeg kamatnog perioda), u slučaju da se otplata glavnice vrši u jednoj rati u skladu sa Prilogom D tačka C ili članom 4.1.B; i

(b)

za Tranšu sa varijabilnom stopom, sledeći Odgovarajući radni dan u tom mesecu ili, u nedostatku toga, najbliži prethodni dan koji je Odgovarajući radni dan, u svim slučajevima sa odgovarajućom korekcijom kamate dospele prema članu 3.1.

„JIP” ima značenje koje mu je dato u stavu (a) Preambule.

„Iznos prevremene otplate” označava iznos Tranše koji Zajmoprimac prevremeno otplaćuje u skladu sa članom 4.2.A ili članom 4.3.A, kako je primenjivo. „Datum prevremene otplate” označava datum, kako ga je zahtevao Zajmoprimac i sa kojim se Banka složila ili koji je Banka naznačila (kako je primenljivo), na koji Zajmoprimac treba da izvrši prevremenu otplatu Iznosa prevremene otplate.

„Slučaj prevremene otplate” označava bilo koji od događaja opisanih u članu 4.3.A.

„Naknada za prevremenu otplatu” označava u odnosu na bilo koji iznos glavnice koji se prevremeno otplaćuje, iznos koji je Banka saopštila Zajmoprimcu kao sadašnju vrednost (obračunatu na Datum prevremene otplate) viška, ako postoji, od:

(a)

kamate koja bi se nakon toga obračunala na Iznos prevremene otplate tokom perioda od Datuma prevremene otplate do Datuma revizije/konverzije kamate, ako ga ima, ili Datuma dospeća, ako nije prevremeno otplaćena; preko

(b)

kamate koja bi se tako obračunala tokom tog perioda, ako bi se obračunala po Stopi preraspodele, umanjene za 0,19% (devetnaest baznih poena).

Navedena sadašnja vrednost će biti obračunata po diskontnoj stopi koja je jednaka Stopi preraspodele i koja se primenjuje na svaki odgovarajući Datum plaćanja.

„Obaveštenje o prevremenoj otplati” označava pisano obaveštenje Banke upućeno Zajmoprimcu u pogledu prevremene otplate Tranše sa fiksnom kamatnom stopom i/ili Tranše sa varijabilnom kamatnom stopom u skladu sa članom 4.2.C, kojim se navodi Iznos prevremene otplate, Datum prevremene otplate, obračunata dospela kamata, naknada u skladu sa članom 4.2.D, ukoliko postoji i, samo u pogledu Tranši sa fiksnom kamatnom stopom, Obeštećenje za prevremenu otplatu, ukoliko postoji, koje dospeva na dan Iznosa prevremene otplate.

„Ponuda za prevremenu otplatu” označava pisano obaveštenje Banke upućeno Zajmoprimcu u skladu sa članom 4.2.C.

„Zahtev za prevremenu otplatu” označava pisani zahtev od Zajmoprimca upućen Banci za prevremenu otplatu celog ili dela Neizmirenog zajma, u skladu sa članom 4.2.A.

„Nedozvoljene radnje” označavaju svako Finansiranje terorizma, Pranje novca ili Nedozvoljenu praksu.

„Nedozvoljena praksa” označava svaku od sledećih radnji:

(a)

Prinuda, što znači narušavanje ili nanošenje štete, ili pretnju da će narušiti ili naneti štetu, direktno ili indirektno, bilo kojoj strani ili imovini strane kako bi se nepropisno uticalo na radnje strane;

(b)

Prikriveno udruživanje, koje predstavlja dogovor dve ili više strana, osmišljen tako da postigne neispravan cilj, uključujući nepropisno uticanje na radnje druge strane;

(c)

Korupcija, u smislu nuđenja, davanja, primanja ili traženja, direktno ili indirektno, bilo koje vrednosti od jedne strane, u cilju nepropisnog uticanja na radnje druge strane;

(d)

Prevara, označava svaki postupak ili propust, uključujući lažno predstavljanje, koje, svesno ili nepažnjom, dovodi u zabludu ili pokušava da dovede u zabludu stranu u cilju sticanja finansijske ili druge koristi (uključujući izbegavanje oporezivanja) ili izbegavanja obaveze;

(e)

Radnje ometanja, u vezi sa istraživanjem Prinude, Prikrivenog udruživanja, Korupcije ili Prevare u vezi sa ovim Zajmom ili Projektom, označavaju (a) uništavanje, falsifikovanje, menjanje ili prikrivanje dokaznog istražnog materijala ili davanje lažnih izjava istražiteljima, sa namerom da se ometa istraga; (b) pretnje, uznemiravanje ili zastrašivanje bilo koje strane, koja bi ih sprečila u otkrivanju svojih saznanja o pitanjima bitnim za istragu ili za nastavak istrage, ili (c) radnje koje imaju za cilj ometanje vršenja ugovornih prava EIB Grupe na reviziju ili inspekciju ili pristup informacijama;

(f)

Poreski kriminal, znači sva krivična dela, uključujući poreska krivična dela koja se odnose na direktne i indirektne poreze, a kako je definisano nacionalnim zakonodavstvom Republike Srbije, za koja je propisana kazna lišavanja slobode ili određivanje pritvora u trajanju od više od godinu dana;

(g)

Zloupotreba Resursa i imovine EIB Grupe, znači bilo koju nezakonitu radnju koja je učinjena svesno ili nepažljivo prilikom korišćenja resursa ili imovine EIB Grupe (uključujući sredstva pozajmljena po ovom ugovoru); ili

(h)

bilo koje druge nezakonite radnje koje mogu uticati na finansijske interese Evropske unije, u skladu sa važećim zakonima.

„Projekat” ima značenje koje mu je dato u stavu (a) Preambule.

„Događaj smanjenja troškova projektaˮ ima značenje koje mu je dato u članu 4.3.A(1).

„Promoter” ima značenje koje mu je dato u stavu (a) Preambule.

„Kvalifikovani rashodi” označavaju rashode (umanjene za poreze i carine koje plaća Zajmoprimac i/ili Promoter), koje je Zajmoprimac ili Izvršilac projekta snosio za Projekat, u vezi sa radovima, robom i uslugama koje se odnose na stavke navedene u Tehničkom opisu i u Pismu o alokaciji i koji su podobni za finansiranje u okviru Kredita (radi izbegavanja sumnje, isključujući prava službenosti prolaza koja će finansirati Zajmoprimac), koji su bili predmet jednog ili više ugovora zaključenih pod uslovima koji su zadovoljavajući za Banku, imajući u vidu najnovije izdanje Vodiča za javne nabavke Banke. Radi izbegavanja sumnje, plaćanje poreza na dodatu vrednost na prodaju robe i usluga i na uvoz robe i usluga, troškovi carina i drugih uvoznih dažbina, poreza i drugih nameta koji nastaju u izvršenju implementacije Projekta ne predstavljaju kvalifikovane rashode u svrhu ovog ugovora.

„Stopa preraspodele” označava fiksnu godišnju stopu koju određuje Banka, odnosno stopu koju bi Banka primenila na dan obračuna naknade za zajam izražen u istoj valuti, koji ima jednake uslove plaćanja kamate i isti profil otplate na Datum revizije/konverzije kamate, ako postoji, ili Datuma dospeća kao i Tranša za koju je predložena ili zahtevana prevremena otplata ili otkazivanje. Ovakva stopa neće imati negativnu vrednost.

„Odgovarajući radni dan” označava dan na koji je obračun u realnom vremenu po bruto principu (eng. real time gross settlement system), kojim upravlja Evrosistem (T2), ili bilo koji njegov sledbenik, otvoren za poravnanje plaćanja u evrima.

„Relevantna strana” ima značenje koje joj je dato u članu 8.3.

„Relevantno lice” označava:

(a)

u odnosu na Zajmoprimca, bilo koje ministarstvo, drugi centralni organi izvršne vlasti ili druge vladine jedinice ili bilo koji njihov zvaničnik ili predstavnik, ili bilo koje drugo lice koje deluje za njih, u njihovo ime ili pod njihovom kontrolom, a koji imaju pravo da upravljaju i/ili nadgledaju Kredit, Zajam ili Projekat; i

(b)

u odnosu na Izvršioca projekta, bilo koji član njegovih upravnih organa, ili bilo koje drugo lice koje deluje za njega, u njegovo ime, ili pod njegovom kontrolom, a koje ima ovlašćenje da daje materijalna uputstva i/ili vrši kontrolu u vezi sa Kreditom, Zajmom ili Projektom.

„Datum otplate” označavaće svaki Datum plaćanja određen za otplatu glavnice Tranše u Ponudi za isplatu, u skladu sa članom 4.1.

„Traženi odloženi datum isplate” ima značenje koje mu je dato u članu 1.5.A(1)(a)(ii).

„Sankcionisano lice” označava pojedinca ili entitet (radi izbegavanja sumnje, termin entitet uključuje, ali nije ograničen na, bilo koju vladu, grupu ili terorističku organizaciju) koji je određena meta Sankcija ili je na drugi način predmet Sankcija (uključujući, bez ograničenja, kao rezultat toga što je u vlasništvu ili na drugi način pod kontrolom, direktno ili indirektno, bilo kog pojedinca ili entiteta koji je određena meta Sankcija ili koji je na drugi način predmet Sankcija).

„Sankcije” označavaju zakone, propise, trgovinske embargoe ili druge restriktivne mere o ekonomskim ili finansijskim sankcijama (uključujući, posebno, ali ne ograničavajući se na, mere u vezi sa finansiranjem terorizma), koje povremeno donosi, primenjuje, sprovodi ili izvršava bilo ko od sledećih:

(a)

Ujedinjene nacije, uključujući, između ostalog, Savet bezbednosti Ujedinjenih nacija;

(b)

Evropska unija, uključujući, između ostalog, Savet Evropske unije i Evropsku komisiju, kao i sva druga nadležna tela/institucija ili agencije Evropske unije;

(c)

Vlada Sjedinjenih Američkih Država i svako odeljenje, sektor, agencija ili kancelarija, uključujući, između ostalog, Kancelariju za kontrolu strane imovine (OFAC) Ministarstva finansija Sjedinjenih Američkih Država, Državni sekretarijat Sjedinjenih Američkih Država i/ili Ministarstvo trgovine Sjedinjenih Američkih Država; i

(d)

Vlada Ujedinjenog Kraljevstva i svako odeljenje, sektor, agencija, kancelarija ili organ vlasti Ujedinjenog Kraljevstva, uključujući, između ostalog, Kancelariju za sprovođenje finansijskih sankcija Trezora Njegovog Veličanstva i Odeljenje za međunarodnu trgovinu Ujedinjenog Kraljevstva.

„Zakazani datum isplate” znači datum na koji je zakazana isplata Tranše u skladu sa članom 1.2.B, koji će biti Odgovarajući radni dan koji pada najmanje 10 (deset) dana nakon datuma Ponude za isplatu ili uspešnog poziva za određivanje cena, a na dan ili pre Krajnjeg datuma raspoloživosti.

„Socijalni zakon” označava:

(a)

Pravo EU, uključujući principe i standarde osim za svako odstupanje koje Banka prihvati u svrhu ovog ugovora, na osnovu bilo kog sporazuma između Republike Srbije i EU;

(b)

zakone i propise u Republici Srbiji;

(c)

međunarodne ugovore i konvencije koje je potpisala i ratifikovala Republika Srbija ili su na drugi način primenjivi i obavezujući za nju;

(d)

bilo koji od MOR standarda;

u svakom slučaju čiji je glavni cilj zaštita ili unapređenje Društvenih pitanja; i

(e)

bilo koji međunarodni ugovor, konvenciju ili sporazum o ljudskim pravima pod okriljem Ujedinjenih nacija, koji je potpisan i ratifikovan ili na drugi način primenjiv i obavezujući za Republiku Srbiju.

„Socijalna pitanja” označavaju sve, ili bilo koje od sledećeg:

(a)

rad i uslovi rada;

(b)

zdravlje i bezbednost na radu;

(c)

prava i interesi ranjivih grupa;

(d)

prava i interesi etničkih manjina;

(e)

rodna ravnopravnost;

(f)

javno zdravlje, sigurnost i bezbednost;

(g)

izbegavanje nevoljnog fizičkog preseljenja i ublažavanje poteškoća koje proističu iz prinudnog preseljenja; i

(h)

angažovanje zainteresovanih strana.

„Marža” označava fiksni iznos (bilo da je pozitivne ili negativne vrednosti) za EURIBOR, koji određuje Banka i obaveštava Zajmoprimca u odgovarajućoj Ponudi za isplatu ili u Predlogu za reviziju/konverziju kamate.

„Pod-projekat” ima značenje koje mu je dato u stavu (a) Preambule.

„Porez” označava bilo koji porez, taksu, namet, carinu ili drugu naknadu ili zadržavanje slične prirode (uključujući bilo koju kaznu ili kamatu koja se plaća u vezi sa bilo kakvim neplaćanjem ili kašnjenjem u plaćanju istih).

„Tehnički opis” ima značenje koje mu je dato u stavu (a) Prembule.

„Tranša” označava svaku isplatu koja je izvršena ili će biti izvršena prema ovom Ugovoru. U slučaju da nije primljeno Prihvatanje isplate, Tranša će značiti Tranšu sa aktuelnim cenama ili Tranšu prema ponudi u skladu sa članom 1.2.B.

ČLAN 1.Čl. 1.1–1.10

Kredit i isplata

Član1.1

Iznos kredita

Ovim ugovorom Banka odobrava Zajmoprimcu, a Zajmoprimac prihvata, kredit u iznosu do 150.000.000,00 evra (sto pedeset miliona evra) za finansiranje Projekta (u daljem tekstu: „Kredit”).

Član1.2

Postupak isplate

Član1.2.A

Tranše

Banka će isplatiti Kredit u najviše 15 (petnaest) Tranši. Iznos (i) prve Tranše biće u minimalnom iznosu od 2.000.000,00 evra (dva miliona evra) i (ii) svake naredne Tranše biće u minimalnom iznosu od 10.000.000,00 evra (deset miliona evra) ili (ako je manji iznos) celokupnom nepovučenom ostatku Kredita.

Član1.2.B

Ponuda za isplatu

Na zahtev Zajmoprimca i prema

članu 1.4.A

, pod uslovom da nijedan događaj naveden u

članu 1.6.B

nije nastupio i ne traje, Banka će nakon prijema takvog zahteva, po sopstvenom nahođenju:

poslati Zajmoprimcu u roku od 5 (pet) Radnih dana od prijema takvog zahteva Ponudu za isplatu Tranše. Ponuda za isplatu će sadržati informacije koje su navedene u Prilogu C; ili

obavestiti Zajmoprimca da će uslovi isplate tražene Tranše biti dogovoreni tokom snimljenog poziva o određivanju cena koji će se održati između Banke i Zajmoprimca (u daljem tekstu: „Tranša sa aktuelnim cenama”). U tom slučaju, u skladu sa

čl. 1.4.B

i 1.4.C i nakon uspešnog poziva o određivanju cena između Banke i Zajmoprimca, tokom kojeg su Strane dogovorile uslove isplate tražene Tranše, Banka će poslati Zajmoprimcu, istog Radnog dana i nakon takvog uspešnog poziva o određivanju cena, Ponudu za isplatu koja odražava uslove dogovorene tokom poziva, a koja će sadržati informacije navedene u Prilogu C. Zajmoprimac će potvrditi Tranšu sa sa aktuelnim cenama kao Prihvaćenu Tranšu i prihvatiti Ponudu za isplatu dostavljanjem Prihvatanja isplate Banci najkasnije do Roka za prihvatanje isplate u skladu sa stavom (a)

člana 1.2.C

. Krajnji rok za zaključenje uspešnog procesa određivanja cena je 5 (pet) Radnih dana pre Krajnjeg datuma raspoloživosti. Strane razumeju da: (i) u slučaju da Zajmoprimac ne pristane na organizovanje poziva o određivanju cena, Zajmoprimac neće primiti nikakvu Ponudu za isplatu i (ii) Zajmoprimac ima slobodu da odbije uslove ponuđene tokom poziva o određivanju cena.

Krajnji rok za prijem Banke takvog zahteva Zajmoprimca, u skladu sa ovim

članom 1.2.B

, je 15 (petnaest) Radnih dana pre Krajnjeg datuma raspoloživosti.

Strane su saglasne da Ponudu za isplatu Banka može izdati kao nepotpisan dokument i, u tom slučaju, smatraće se propisno potpisanom i dostavljenom u ime Banke, pod uslovom da je ta Ponuda za isplatu poslata putem elektronske pošte sa sledeće e-mail adrese EIB-FirmDisbursementOffer@eib.org na e-mail adresu Zajmoprimca navedenu u

članu 12.1.B

Član1.2.C

Prihvatanje isplate

Zajmoprimac može da prihvati Ponudu za isplatu dostavljanjem Banci Prihvatanja isplate ne kasnije od Roka za prihvatanje isplate, nakon čega sledi preporučeno pismo u skladu sa

članom 12.1.A

. Prihvatanje isplate će potpisati Ovlašćeni potpisnik sa pravom pojedinačnog predstavljanja ili dva ili više Ovlašćenih potpisnika sa pravom zajedničkog predstavljanja i odrediće Račun za isplatu na koji će se izvršiti isplata Tranše u skladu sa

članom 1.2.D

Ukoliko Zajmoprimac propisno prihvati Ponudu za isplatu u skladu sa njenim uslovima, na dan ili pre Roka za prihvatanje isplate, Banka će Prihvaćenu tranšu učiniti raspoloživom Zajmoprimcu u skladu sa konkretnom Ponudom za isplatu i prema odredbama i uslovima ovog ugovora.

Za tranše koje nisu Tranše sa aktuelnim cenama, smatraće se da je Zajmoprimac odbio svaku Ponudu za isplatu koja nije propisno prihvaćena u skladu sa njenim uslovima na dan ili pre Roka za prihvatanje isplate.

Banka se može osloniti na informacije navedene u najnovijoj Listi ovlašćenih potpisnika i računa koju je Banci dostavio Zajmoprimac. Ako Prihvatanje isplate potpiše lice označeno kao Ovlašćeni potpisnik u skladu sa najnovijom Listom ovlašćenih potpisnika i računa koju je Banci dostavio Zajmoprimac, Banka može pretpostaviti da to lice ima ovlašćenje da potpiše i dostavi u ime i za račun Zajmoprimca takvo Prihvatanje isplate.

Član1.2.D

Račun za isplatu

Isplata se vrši na Račun za isplatu koji je naveden u relevantnom Obaveštenju o prihvatanju isplate, pod uslovom da je takav Račun za isplatu prihvatljiv za Banku.

Ne dovodeći u pitanje

član 5.2(e)

, Zajmoprimac potvrđuje da plaćanja na Račun za isplatu predstavljaju isplate na osnovu ovog ugovora jednako kao da su izvršene na sopstveni bankarski račun Zajmoprimca.

Samo jedan Račun za isplatu može biti naveden za svaku Tranšu.

Član1.3

Valuta isplate

Banka isplaćuje svaku Tranšu u evrima.

Član1.4

Uslovi isplate

Član1.4.A

Preduslovi kod prvog zahteva za Ponudu za isplatu

Banka je primila od Zajmoprimca u formi i sadržaju koji Banka smatra prihvatljivim:

dokaz da je potpisivanje ovog ugovora od strane Zajmoprimca propisno odobreno i da je lice ili lica koja potpisuju ovaj ugovor u ime Zajmoprimca propisno ovlašćeno(a) za to, zajedno sa primerom potpisa svakog takvog lica;

najmanje 2 (dva) originalna primerka ovog ugovora propisno potpisana od svih Strana; i

Listu ovlašćenih potpisnika i računa,

pre zahteva Zajmoprimca za Ponudu za isplatu prema

članu 1.2.B

. Svaki zahtev za Ponudu za isplatu koji Zajmoprimac podnese, a da Banka nije primila gore navedena dokumenta na način kako to Banka zahteva, smatraće se da nije podnet.

Član1.4.B

Prva tranša

Isplata prve Tranše prema

članu 1.2

uslovljena je prijemom Banke, u formi i prema sadržini odgovarajućim za nju, na dan ili pre datuma koji pada 6 (šest) Radnih dana pre Zakazanog datuma isplate (i, u slučaju odlaganja isplate prema

, Traženog odloženog datuma isplate ili Dogovorenog odloženog datuma isplate, tim redosledom) za predloženu Tranšu, sledeće dokumentacije ili dokaza:

dokaz da je Zajmoprimac dobio sva neophodna Odobrenja, koja se traže u vezi sa ovim ugovorom i Projektom;

pravno mišljenje, izdato na engleskom jeziku od strane Ministarstva pravde Zajmoprimca kojim se, između ostalog, potvrđuje (i) ovlašćenje lica koja potpisuju ovaj ugovor u ime Zajmoprimca; i (ii) da je ovaj ugovor propisno potpisan od strane Zajmoprimca i da predstavlja zakonitu, važeću i pravnu obavezu Zajmoprimca u skladu sa njegovim uslovima; (iii) važeći izbor prava Velikog Vojvodstva Luksemburg prema ovom ugovoru, i (iv) priznanje i izvršenje presuda Suda pravde Evropske unije u bilo kom postupku pokrenutom u Republici Srbiji u vezi sa ovim ugovorom;

Zajmoprimac je preduzeo sve neophodne mere za oslobađanje od oporezivanja svih plaćanja glavnice, kamate i ostalih iznosa koji dospevaju po ovom ugovoru i za omogućavanje isplate svih takvih bruto iznosa bez odbitka poreza na izvoru;

dokaz da su dobijene sve neophodne saglasnosti u pogledu devizne kontrole kako bi se omogućio prijem isplata po ovom ugovoru, njihova otplata i isplata kamate i svih ostalih dospelih iznosa po po ovom ugovoru; takve saglasnosti moraju se odnositi i na otvaranje i vođenje računa na koje se usmerava isplata Kredita; i

dokaz da je potpisan sporazum o saradnji za konsultantske usluge za podršku pripremi Projekta, na način zadovoljavajući za Banku.

Član1.4.C

Sve tranše

Isplata svake Tranše prema

članu 1.2

, uključujući i prvu, podleže sledećim uslovima:

Banka je primila, u formi i sadržini koji su odgovarajući za nju, na ili pre datuma koji pada 6 (šest) Radnih dana pre Zakazanog datuma isplate (i, u slučaju odlaganja isplate prema

, Traženog odloženog datuma isplate ili Dogovorenog odloženog datuma isplate, tim redosledom), za predloženu Tranšu, sledećih dokumenata ili dokaza:

(i)

potvrdu Zajmoprimca u formi iz Priloga E, potpisanu od strane ovlašćenog predstavnika Zajmoprimca i datiranu na dan koji nije raniji od datuma koji pada 15 (petnaest) Radnih dana pre Zakazanog datuma isplate (i, u slučaju odlaganja prema

, Traženog odloženog datuma isplate ili Dogovorenog odloženog datuma isplate, tim redosledom);

(ii)

da je Banka zadovoljna da je na datum relevantne Ponude za isplatu i Datum isplate za predloženu Tranšu Okvirni Sporazum zakonit, važeći, obavezujući i primenjiv i da se nije desio nijedan događaj ili okolnost koji bi mogao da, po mišljenju Banke, negativno utiče na zakonitu, važeću, obavezujuću i primenjivu prirodu Okvirnog Sporazuma;

(iii)

dokaz da, u zbiru, iznosi prethodno isplaćenih Tranši i iznos koji će biti isplaćen u okviru očekivane isplate ne prelaze dodeljeni iznos koji je Banka odobrila u skladu sa Pismima o alokaciji;

(iv)

osim za prvu tranšu, dokaz da je iznos jednak najmanje 50% (pedeset procenata) svih prethodno isplaćenih iznosa po osnovu Ugovora efektivno isplaćen za sve rashode nastale u vezi sa dodeljenim Pod- projektom(ima);

(v)

kopiju bilo kog drugog ovlašćenja ili dokumenta, mišljenja ili uverenja o kome je Banka obavestila Zajmoprimca da je neophodno ili poželjno u vezi sa zaključenjem i ispunjenjem ovog ugovora, kao i transakcijama predviđenim njime, ili u vezi njegove zakonitosti, važenja, obavezujućeg dejstva ili izvršnosti;

na Zakazani datum isplate (i, u slučaju odlaganja prema

, na Traženi odloženi datum isplate ili Dogovoreni odloženi datum isplate, tim redosledom) za predloženu Tranšu:

(i)

izjave i garancije koje se ponavljaju u skladu sa

članom 6.12

su tačne u svakom pogledu; i

(ii)

nijedan događaj ili okolnost koja predstavlja ili koja bi protekom vremena ili davanjem obaveštenja ili donošenjem bilo kakve odluke po ovom ugovoru (ili bilo kojom kombinacijom gore navedenog) predstavljala:

(1)

Slučaj neispunjenja obaveze; ili

(2)

Slučaj prevremene otplate,

nije nastupio i koji se ne nastavlja bez otklanjanja ili od koga se nije odustalo ili proističe iz isplate predložene Tranše.

u vezi sa Tranšom sa aktuelnim cenama, da je Prihvatanje isplate, uredno potpisano od strane Zajmoprimca, dostavljeno Banci u roku navedenom u njoj, u skladu sa

članom 1.2.B(b)

Član1.5

Odlaganje isplate

Član1.5.A

Osnov za odlaganje

1.5.A(1) ZAHTEV ZAJMOPRIMCA

Zajmoprimac može da pošalje pisani zahtev Banci kojim traži odlaganje isplate Prihvaćene tranše. Banke mora primiti Pisani zahtev najmanje 5 (pet) Radnih dana pre Zakazanog datuma za isplatu Prihvaćene tranše i u njemu će biti navedeno:

(i)

da li Zajmoprimac želi da odloži isplatu u celosti ili delimično i, ukoliko se odluči za delimično odlaganje, iznos koji je potrebno odložiti; i

(ii)

datum do kojeg Zajmoprimac želi da odloži isplatu gorenavedenog iznosa (u daljem tekstu: „Traženi odloženi datum isplateˮ), koji mora biti datum koji pada ne kasnije od:

(1)

6 (šest) meseci od Zakazanog datuma isplate;

(2)

30 (trideset) dana pre prvog Datuma otplate; i

(3)

Krajnjeg datuma raspoloživosti.

Nakon prijema takvog pisanog zahteva, Banka će odložiti isplatu određenog iznosa do Traženog odloženog datuma isplate.

1.5.A(2) NEISPUNjAVANjE USLOVA ZA ISPLATU

Isplata Prihvaćene tranše biće odložena ako bilo koji uslov za isplatu takve Prihvaćene tranše naveden u

članu 1.4

nije ispunjen:

(i)

na datum određen za ispunjenje takvog uslova u

članu 1.4

; i

(ii)

na Zakazani datum isplate (ili, tamo gde je Zakazani datum isplate prethodno bio odložen, na očekivani datum isplate).

Banka i Zajmoprimac će dogovoriti datum do kojeg će isplata takve Prihvaćene tranše biti odložena (u daljem tekstu: „Dogovoreni odloženi datum isplateˮ), koji mora biti datum koji pada:

(i)

ne ranije od 6 (šest) Radnih dana nakon ispunjenja svih uslova za isplatu; i

(ii)

ne kasnije od Krajnjeg datuma raspoloživosti.

Ne dovodeći u pitanje pravo Banke da suspenduje i/ili otkaže nepovučeni deo Kredita u celini ili delimično prema

članu 1.6.B

, Banka će odložiti isplatu takve Prihvaćene tranše do Dogovorenog odloženog datuma isplate.

1.5.A(3) NAKNADA ZA ODLAGANjE

Ukoliko se isplata Prihvaćene tranše odloži u skladu sa

stavovima 1.5.A(1)

ili 1.5.A(2) iznad, Zajmoprimac će platiti Naknadu za odlaganje.

Član1.5.B

Otkazivanje isplate odložene za 6 (šest) meseci

Ukoliko je isplata odložena za više od 6 (šest) meseci ukupno u skladu sa

članom 1.5.A

, Banka može dostaviti pisano obaveštenjnj Zajmoprimcu kojim otkazuje isplatu i da će to otkazivanje stupiti na snagu na datum naznačen u tom obaveštenju. Iznos isplate koju je Banka otkazala prema ovom

članu 1.5.B

ostaje na raspolaganju za isplatu prema

članu 1.2

Član1.6

Otkazivanje i obustava

Član1.6.A

Pravo Zajmoprimca na otkazivanje

Zajmoprimac može da uputi pisano obaveštenje Banci i da zahteva otkazivanje neisplaćenog Kredita ili njegovog dela.

U svom pisanom obaveštenju Zajmoprimac:

(i)

mora da precizira da li će Kredit biti otkazan u celosti ili delimično i, ukoliko se odluči za delimično otkazivanje, iznos Kredita koji se otkazuje; i

(ii)

ne sme da zahteva otkazivanje Prihvaćene tranše sa Zakazanim datumom isplate koji pada u roku od 5 (pet) Radnih dana nakon datuma takvog pisanog obaveštenja.

Nakon prijema takvog pisanog obaveštenja, Banka će otkazati traženi deo Kredita sa trenutnim dejstvom. Ako Zajmoprimac to zatraži u pisanoj formi, Banka će izdati potvrdu takvog otkazivanja.

Član1.6.B

Pravo Banke na obustavu i otkazivanje

U bilo kom trenutku, po nastupanju sledećih događaja, Banka može pismeno obavestiti Zajmoprimca da će neisplaćeni deo Kredita biti obustavljen i/ili (osim u Slučaju poremećaja na tržištu) otkazan u celosti ili delimično:

(i)

Slučaj prevremene otplate;

(ii)

Slučaj neispunjenja obaveza;

(iii)

događaj ili okolnost koji bi protekom vremena ili davanjem obaveštenja ili donošenjem bilo kakve odluke po ovom ugovoru (ili bilo kojoj kombinaciji prethodnog) predstavljali Slučaj prevremene otplate ili Slučaj neispunjenja obaveza;

(iv)

Materijalno štetna promena; ili

(v)

Slučaj poremećaja na tržištu, pod uslovom da Banka nije primila Prihvatanje isplate;

Na dan takvog pisanog obaveštenja Banke, određeni deo Kredita biće obustavljen i/ili otkazan sa trenutnim dejstvom. Svaka suspenzija će trajati dok Banka ne okonča suspenziju ili ne otkaže suspendovani iznos.

Član1.6.C

Naknada za obustavu i otkazivanje Tranše

1.6.C(1) OBUSTAVA Ako Banka obustavi Prihvaćenu tranšu nakon nastupanja Slučaja prevremenog plaćanja sa naknadom ili Slučaja neispunjenja obaveza ili događaja ili okolnosti koji bi, protekom vremena ili davanjem obaveštenja ili donošenjem bilo kakve odluke u skladu sa ovim ugovorom (ili bilo kojom kombinacijom prethodnog), predstavljali Slučaja prevremenog plaćanja sa naknadom ili Slučaja neispunjenja obaveza ili nakon što se desi Materijalno štetna promena, Zajmoprimac će platit Banci Naknadu za odlaganje obračunatu na iznos te Prihvaćene tranše.

1.6.C(2) OTKAZIVANjE

Ukoliko se Prihvaćena tranša koja je Tranša sa fiksnom stopom (u daljem tekstu: „Otkazana tranšaˮ) otkaže:

(i)

od strane Zajmoprimca u skladu sa

članom 1.6.A

; ili

(ii)

od strane Banke nakon nastupanja Slučaja prevremenog plaćanja sa naknadom ili događaja ili okolnosti koji bi, protekom vremena ili davanjem obaveštenja ili donošenjem bilo kakve odluke prema ovom ugovoru (ili bilo kojoj kombinaciji prethodnog), predstavljali Slučaj prevremenog plaćanja sa naknadom ili nakon što se desi Materijalno štetna promena ili u skladu sa

članom 1.5.B

Zajmprimac će platiti Banci naknadu na takvu Otkazanu tranšu.

Takva naknada će biti:

(i)

izračunata pod pretpostavkom da je Otkazana tranša isplaćena i otplaćena na isti Zakazani datum isplate ili, u meri u kojoj je isplata Tranše trenutno odložena ili suspendovana, na datum obaveštenja o otkazivanju; i

(ii)

u iznosu koji Banka saopštava Zajmoprimcu kao sadašnju vrednost viška (izračunatu na datum otkazivanja), ukoliko postoji, od:

(1)

kamate koja bi se nakon toga akumulirala na Otkazanoj tranši tokom perioda od datuma otkazivanja, u skladu sa ovim

članom 1.6.C(2)

, do Datuma revizije/konverzije kamate, ako postoji, ili Datuma dospeća, ako nije otkazana; preko

(2)

kamate koja bi se tako obračunala tokom tog perioda, ako bi se obračunala po Stopi preraspodele, umanjenoj za 0,19% (devetnaest baznih poena).

Navedena sadašnja vrednost izračunaće se po diskontnoj stopi koja je jednaka Stopi preraspodele koja se primenjuje na svaki konkretni Datum plaćanja odgovarajuće Tranše.

Ako Banka otkaže bilo koju Prihvaćenu tranšu nakon što nastupi Slučaj neispunjenja obaveza, Zajmoprimac će isplatiti naknadu Banci u skladu sa

članom 10.3

Član1.7

Otkazivanje nakon isteka Kredita

Na dan nakon Krajnjeg datuma raspoloživosti, osim ako Banka drugačije pismeno ne obavesti Zajmoprimca, svaki deo Kredita za koji nije primljeno Prihvatanje isplate u skladu sa

članom 1.2.C

biće automatski otkazan, bez daljeg obaveštenja Banke Zajmoprimcu i bez ikakve obaveze koja nastaje za bilo koju Stranu. Ako Zajmoprimac to zatraži u pisanoj formi, Banka će izdati potvrdu takvog otkazivanja.

Član1.8

Iznosi koji dospevaju u skladu sa čl. 1.5 i 1.6

Iznosi koji dospevaju u skladu sa

čl. 1.5

i 1.6 plaćaju se:

u EUR; i

u roku od 15 (petnaest) dana od kada Zajmoprimac primi zahtev Banke ili u bilo kom dužem roku navedenom u zahtevu Banke.

Član1.9

Procedura alokacije

Član1.9.A

Zahtev za alokaciju

Između perioda od Datuma stupanja na snagu i 2 (dva) meseca pre Krajnjeg datuma raspoloživosti (u daljem tekstu: „Period alokacijeˮ), Zajmoprimac (preko Promotera i/ili Izvršioca projekta), može da podnese Banci jedan ili više zahtev(a) za alokaciju koji je on pripremio (preko Promotera i/ili Izvršioca projekta) i u vezi sa kojim Zajmoprimac (preko Izvršioca projekta) traži finansiranje po osnovu ovog ugovora (u daljem tekstu: „Zahtev za alokacijuˮ).

Svaki Zahtev za alokaciju će biti podržan projektnim dokumentom u obliku tabela navedenih u Prilogu A ovog ugovora, koji sadrži tamo navedene informacije, kao i sve dodatne relevantne informacije koje Banka zahteva.

Zajam se može dodeliti isključivo Pod-projektima koji su identifikovani kao podobni za finansiranje u Tehničkom opisu prema ovom ugovoru. Da bi se Pod-projekat kvalifikovao za finansiranje po ovom osnovu, Zajmoprimac mora (i mora osigurati da i Izvršilac projekta mora) da poštuje Proceduru alokacije prema ovom

članu 1.9

i Tehničkom opisu.

Zajam će se dodeljivati Pod-projektima, koji su dogovoreni sa Bankom u skladu sa principima procedure revizije alokacije kredita u okviru Banke koja je navedena u Tehničkom opisu, pod uslovom da se Banka uveri da postoji dovoljno informacija dostupnih o takvim Pod-projektima.

Sredstva Banke će se dodeljivati prihvatljivim Pod-projektima sa procedurama moduliranim u skladu sa veličinom Pod-projekata i u skladu sa primenljivim procedurama Banke za okvirne kredite, kao što je navedeno u Tehničkom opisu.

Zajmoprimac će (preko Promotera i/ili Izvršioca projekta) obezbediti da je, zajedno sa svakim Zahtevom za alokaciju, plan nabavke za Pod-projekat uključen u taj Zahtev za alokaciju u formi i sadržaju koji je prihvatljiv za Banku.

Član1.9.B

Pismo o alokaciji

Banka će imati puno diskreciono pravo da odobri ili odbije podneti Zahtev za alokaciju nakon pregleda Pod-projekata koje smatra neophodnim i, u slučaju potvrde/odobrenja, izdaće Pismo o alokaciji (u daljem tekstu: „Pismo o alokacijiˮ), obaveštavajući Zajmoprimca (preko Promotera i Izvršioca projekta) o svojoj potvrdi/odobrenju dostavljenih Pod-projekata i o iznosu u evrima koji je dodeljen tom Pod-projektu. U slučaju da Banka ne odobri podneti Zahtev za alokaciju, Banka će o tome obavestiti Zajmoprimca (preko Izvršioca projekta i Promotera).

Banka može putem obaveštenja Zajmoprimcu (preko Promotera i Izvršioca projekta) da izmeni proceduru alokacije kako bi je uskladila sa politikom Banke ili odražavala rezultate revizije implementacionog kapaciteta i performansi Projekta. U tom slučaju, Banka će o tome obavestiti Zajmoprimca (preko Promotera i Izvršioca projekta) i Zajmoprimac (preko Promotera i Izvršioca projekta) će u skladu sa tim odmah prilagoditi svoje interne procedure alokacije.

Član1.10

Procedura realokacije

Pre datuma koji sledi 6 (šest) meseci nakon Perioda alokacije, Zajmoprimac (preko Promotera ili Izvršioca projekta) može, pisanim zahtevom (koji je pripremio on ili Izvršilac projekta) Banci, koji će sadržati razloge za zahtev, da predloži realokaciju u skladu sa odredbama ovog

člana 1.10

bilo kog dela neizmirenog kredita koji je dodeljen, ali nije potrošen na Pod-projekat, ili nije u potpunosti, direktno ili indirektno, stavljen na raspolaganje od strane Zajmoprimca i/ili Izvršioca projekta.

Banka može, po svom nahođenju, prihvatiti predlog za realokaciju Zajmoprimca (preko Promotera ili Izvršioca projekta) i izvršiti preraspodelu bilo kog dela neotplaćenog kredita u skladu sa odredbama

člana 1.10

i obavestiti Zajmoprimca i Izvršioca projekta, u zavisnosti od slučaja, e-poštom u roku od 30 (trideset) dana nakon prijema dokumenta za Pod-projekta Zajmoprimca (preko Promotera ili Izvršioca projekta) uz predlog za realokaciju. Preraspodeljeni iznosi biće uključeni u Pismo o alokaciji navedeno u

članu 1.9.B

Ako realokacija nije moguća ili je moguća samo delimično, Zajmoprimac će, nakon prijema obaveštenja od Banke, u skladu sa

članom 4.3

, odmah otplatiti Banci deo neotplaćenog kredita koji je Banka isplatila u vezi sa prvobitnom alokacijom.

Na pismeni zahtev Banke, Zajmoprimac (preko Promotera ili Izvršioca projekta) će predložiti realokaciju bilo kog dela neizmirenog kredita koji je alociran, u skladu sa procedurama opisanim u članu 1.9, u vezi sa Pod- projektom ako takav Pod-projekat, po mišljenju Banke, nije podoban za finansiranje od strane Banke prema Statutu, politikama ili smernicama Banke ili prema članu 309. Ugovora o funkcionisanju Evropske unije ili ako Pod- projekat više nije u skladu sa zahtevima ovog ugovora. Ako u roku predviđenom u pismenom zahtevu Banke Zajmoprimac (preko Promotera ili Izvršioca projekta) ne zameni takav Pod-projekat, Zajmoprimac će otplatiti ceo ili deo neotplaćenog Zajma u skladu sa

članom 4.3

ovog ugovora.

Član 2.Čl. 2.1–2.3

Zajam

Član2.1

Iznos Zajma

Zajam se sastoji od ukupnih iznosa Tranši koje je Banka isplatila po Kreditu, kako je potvrđeno od strane Banke, saglasno

članu 2.3

Član2.2

Valuta plaćanja

Zajmoprimac plaća kamatu, glavnicu i druge naknade koji se plaćaju u vezi sa svakom Tranšom, u valuti u kojoj je takva Tranša isplaćena.

Druga plaćanja, ukoliko ih ima, vrše se u valuti koju određuje Banka, uzimajući u obzir valutu rashoda koji će biti plaćen tom isplatom.

Član2.3

Potvrda Banke

Banka dostavlja Zajmoprimcu plan otplate koji se navodi u

članu 4.1

, ukoliko postoji, koja prikazuje Datum isplate, valutu, isplaćeni iznos, uslove otplate i kamatnu stopu za svaku Tranšu, ne kasnije od 10 (deset) kalendarskih dana nakon Zakazanog datuma isplate za tu Tranšu.

Član 3.Čl. 3.1–3.3

Kamata

Član3.1

Kamatna stopa

Član3.1.A

Tranše sa fiksnom stopom

Zajmoprimac plaća kamatu na neizmireni iznos svake Tranše sa fiksnom stopom po Fiksnoj stopi kvartalno ili polugodišnje na kraju takvog perioda, na odgovarajuće Datume plaćanja, kako je navedeno u Ponudi za isplatu, počev od prvog takvog Datuma plaćanja nakon Datuma isplate Tranše. Ako je period od Datuma isplate do prvog Datuma plaćanja 15 (petnaest) dana ili kraći, onda se plaćanje kamate obračunate u tom periodu odlaže do sledećeg (drugog) Datuma plaćanja.

Kamata se obračunava na osnovu

člana 5.1.(a)

Član3.1.B

Tranše sa varijabilnom stopom

Zajmoprimac plaća kamatu na neizmireni iznos svake Tranše sa varijabilnom stopom po Varijabilnoj stopi kvartalno ili polugodišnje na kraju takvog perioda, na odgovarajuće Datume plaćanja, kako je navedeno u Ponudi za isplatu, počev od prvog takvog Datuma plaćanja nakon Datuma isplate Tranše.

Banka će obavestiti Zajmoprimca o Varijabilnoj stopi u roku od 10 (deset) dana nakon početka svakog Referentnog perioda za varijabilnu stopu.

Ukoliko se, u skladu sa

čl. 1.5

i 1.6, isplata bilo koje Tranše sa varijabilnom stopom dogodi posle Zakazanog datuma isplate, EURIBOR koji se primenjuje za prvi Referentni period za varijabilnu stopu biće određen, u skladu sa Prilogom B, za Referentni period za varijabilnu stopu koji počinje od Datuma plaćanja, a ne od Zakazanog datuma isplate.

Kamata se obračunava za svaki Referentni period za varijabilnu stopu na osnovu

člana 5.1.(b)

Član3.1.C

Revizija ili konverzija Tranši

Kada Zajmoprimac izabere opciju da izvrši reviziju ili konverziju osnovice kamatne stope Tranše, on će, od stupanja na snagu Datuma revizije/konverzije kamate (u skladu sa postupkom opisanim u Prilogu D), platiti kamatu po stopi utvrđenoj u skladu sa odredbama Priloga D.

Član3.2

Zatezna kamata

Bez uticaja na

član 10.

i kao izuzetak od

člana 3.1

, ako Zajmoprimac ne plati bilo koji dospeli iznos po ovom Ugovoru na datum dospeća obaveze, obračunavaće se kamata na bilo koji neizmireni iznos prema ovom Ugovoru, od datuma dospeća do datuma stvarnog plaćanja, po godišnjoj stopi koja je jednaka:

za zaostale iznose koji se odnose na Tranše sa varijabilnom kamatnom stopom, Varijabilnoj kamatnoj stopi uvećanoj za 2% (200 baznih poena);

za zaostale iznose koji se odnose na Tranše sa fiksnom kamatnom stopom, iznosu većem od:

(i)

primenljive Fiksne kamatne stope uvećane za 2% (200 baznih poena); ili

(ii)

jednomesečnom EURIBOR-u uvećanom za 2% (200 baznih poena); i

za zaostale iznose izuzev onih navedenih pod (a) i (b), jednomesečni EURIBOR uvećan za 2% (200 baznih poena),

i biće plaćena u skladu sa zahtevom Banke. U svrhu određivanja visine EURIBOR-a u vezi sa ovim članom 3.2 (b) i (c), odgovarajući periodi u smislu Priloga B su uzastopni periodi u trajanju od jednog (1) meseca koji počinju na datum dospeća. Bilo koja dospela neplaćena kamata može biti kapitalizovana u skladu sa članom 1154 Građanskog zakonika Luksemburga. Kako bi se izbegla sumnja, kapitalizacija kamate će se vršiti samo za dospelu kamatu, ali neizmirenu duže od godinu dana. Zajmoprimac unapred prihvata da se zatezna kamata za period duži od godinu dana obračuna kao složena kamata i da će, posle kapitalizacije, takva neizmirena kamata biti obračunata po kamatnoj stopi koja je data u

članu 3.2

Bez uticaja na

član 3.2 (c)

iznad, ukoliko je zaostali iznos u valuti za koju u Ugovoru nije određena EURIBOR stopa, primeniće se relevantna međubankarska stopa ili, kako odredi Banka, relevantna bezrizična stopa koju Banka redovno koristi za transakcije u toj valuti, uvećana za 2% (200 baznih poena) i obračunata u skladu sa tržišnom praksom za takvu stopu.

Član3.3

Slučaj poremećaja na tržištu

Ako u bilo kom trenutku:

od prijema Banke Prihvatanja isplate u vezi sa Tranšom, i

do datuma koji pada 20 (dvadeset) Radnih dana pre Zakazanog datuma isplate za Tranše koje će biti isplaćene u evrima,

nastupi Slučaj poremećaja na tržištu, Banka može obavestiti Zajmoprimca da je ovaj

član 3.3

stupio na snagu.

Kamatna stopa koja se primenjuje na takvu Prihvaćenu tranšu do Datuma dospeća ili Datuma revizije/konverzije kamate, ukoliko postoji, biće stopa (izražena kao godišnja procentualna stopa) za koju Banka utvrdi da je njen ukupni trošak za finansiranje odgovarajuće Tranše, na osnovu tada važeće interno kreirane referentne stope Banke ili alternativne metode određivanja stope, koju Banka razumno odredi.

Zajmoprimac ima pravo da pisanim putem odbije takvu isplatu u roku navedenom u obaveštenju i snosiće eventualne troškove koji nastanu kao rezultat toga, u kom slučaju Banka neće izvršiti isplatu i odgovarajući deo Kredita ostaje na raspolaganju za isplatu u skladu sa

članom 1.2. A

ko Zajmoprimac ne odbije isplatu na vreme, Strane su saglasne da su isplata u EUR i njeni uslovi u potpunosti obavezujući za Strane. Marža ili Fiksna stopa koje je Zajmoprimac prethodno prihvatio, više se neće primenjivati.

Član 4.Čl. 4.1–4.4.B

Otplata

Član4.1

Redovna otplata

Član4.1.A

Otplata u ratama

Zajmoprimac otplaćuje svaku Tranšu u ratama na Datume plaćanja koji su navedeni u odgovarajućoj Ponudi za isplatu u skladu sa uslovima plana otplate koji se dostavlja u skladu sa

članom 2.3

Svaki plan otplate izradiće se na osnovu sledećeg:

(i)

u slučaju Tranše sa fiksnom stopom bez Datuma revizije/konverzije kamate, otplata se vrši kvartalno, polugodišnje ili godišnje, u jednakim ratama glavnice ili stalnim ratama glavnice i kamate;

(ii)

u slučaju Tranše sa fiksnom stopom sa Datumom revizije/konverzije kamate ili Tranše sa varijabilnom stopom, otplata se vrši u jednakim kvartalnim, polugodišnjim ili godišnjim ratama glavnice;

(iii)

prvi Datum otplate svake Tranše pada najranije 30 (trideset) dana od Zakazanog datuma isplate i najkasnije od Datuma otplate, koji neposredno sledi 5. godišnjicu Zakazanog datuma isplate Tranše; i

(iv)

poslednji Datum otplate svake Tranše pada najranije 4 (četiri) godine i najkasnije 15 (petnaest) godina od Zakazanog datuma isplate.

Član4.1.B

Jedna rata

Alternativno, Zajmoprimac će otplatiti Tranšu u jednoj rati na jedini Datum otplate koji je naveden u Ponudi za isplatu koji pada najranije 3 (tri) godine i najkasnije 10 (deset) godina od Zakazanog datuma isplate.

Član4.2

Dobrovoljna prevremena otplata

Član4.2.A

Izbor prevremene otplate

U skladu sa

čl. 4.2.B

, 4.2.C i 4.4, Zajmoprimac može da izvrši prevremeno plaćanje svih ili dela bilo koje Tranše, zajedno sa obračunatom kamatom i naknadama ako postoje, podnošenjem Zahteva za prevremenu otplatu najranije 60 (šezdeset) i najkasnije 30 (trideset) kalendarskih dana od prethodnog obaveštenja, precizirajući:

Iznos prevremene otplate;

Datum prevremene otplate;

ako je primenljivo, izbor načina primene Iznosa prevremene otplate u skladu sa

članom 5.5.C(a)

; i

Broj Ugovora.

Zahtev za prevremenu otplatu je neopoziv.

Član4.2.B

Naknada za prevremenu otplatu

4.2.B(1) TRANŠA SA FIKSNOM STOPOM

U skladu sa

članom 4.2.B(3)

ispod, ako Zajmoprimac prevremeno otplati Tranšu sa fiksnom stopom, Zajmoprimac plaća Banci na Datum prevremene otplate Naknadu za prevremenu otplatu u odnosu na Tranšu sa fiksnom stopom koja se prevremeno otplaćuje.

4.2.B(2) TRANŠA SA VARIJABILNOM STOPOM

U skladu sa

članom 4.2.B(3)

ispod, Zajmoprimac može prevremeno otplatiti Tranšu sa varijabilnom stopom bez naknade.

4.2.B(3) REVIZIJA/KONVERZIJA

Prevremena otplata Tranše na njen Datum Revizije/Konverzije kamate može se izvršiti bez naknade, osim ako je Zajmoprimac prihvatio Fiksnu kamatnu stopu u skladu sa Prilogom D, prema Predlogu Revizije/Konverzije kamate.

Član4.2.C

Mehanika prevremene otplate

Nakon što Zajmoprimac Banci podnese Zahtev za prevremenu otplatu, u vezi sa Tranšom sa fiksnom kamatnom stopom, Banka će izdati Ponudu za prevremenu otplatu Zajmoprimcu, najkasnije 15 (petnaest) dana pre Datuma prevremene otplate. Ponuda za prevremenu otplatu će precizirati Iznos prevremene otplate, Datum prevremene otplate, obračunatu kamatu dospelu do tada, Naknadu za prevremenu otplatu plativu prema

članu 4.2.B(1)

, naknadu prema

članu 4.2.D

, ako postoji, način primene Iznosa prevremene otplate kredita i rok do kojeg Zajmoprimac može da prihvati Ponudu za prevremenu otplatu.

Ako Zajmoprimac prihvati Ponudu za prevremenu otplatu najkasnije do roka navedenog u njoj, Banka će Zajmoprimcu, najkasnije 10 (deset) dana pre relevantnog Datuma prevremene otplate, poslati Obaveštenje o prevremenoj otplati. Ako Zajmoprimac propisno ne prihvati Ponudu za prevremenu otplatu, Zajmoprimac ne može izvršiti prevremenu otplatu u vezi sa takvom Tranšom sa fiksnom kamatnom stopom.

Nakon što Zajmoprimac Banci podnese Zahtev za prevremenu otplatu u vezi sa Tranšom sa varijabilnom kamatnom stopom, Banka će Zajmoprimcu izdati Obaveštenje o prevremenoj otplati, najkasnije 10 (deset) dana pre Datuma prevremene otplate. Zajmoprimac će platiti iznos naveden u Obaveštenju o prevremenoj otplati na konkretan Datum prevremene otplate.

Član4.2.D

Administrativna naknada

Ukoliko Banka izuzetno, isključivo po svojoj proceni, prihvati Zahtev za prevremenu otplatu uz prethodno obaveštenje kraće od 30 (trideset) kalendarskih dana, Zajmoprimac će Banci platiti naknadu od 10.000,00 evra (deset hiljada evra) po svakoj Tranši za koju se zahteva da bude prevremeno otplaćena, delimično ili u potpunosti, uzimajući u obzir administrativne troškove koje je Banka imala u vezi sa takvom dobrovoljnom prevremenom otplatom. U tom slučaju, Banka neće biti u obavezi da poštuje rokove za slanje Ponude za prevremenu otplatu i/ili Obaveštenja o prevremenoj otplati, shodno slučaju, u skladu sa ovim ugovorom.

Član4.3

Obavezna prevremena otplata i otkazivanje

Član4.3.A

Slučajevi prevremene otplate

4.3.A(1) DOGAĐAJ SMANjENjA TROŠKOVA PROJEKTA

Zajmoprimac će odmah obavestiti Banku ukoliko se dogodio ili je verovatno da će doći do Slučaja smanjenja troškova projekta. U bilo kom trenutku nakon pojave Slučaja smanjenja troškova projekta, Banka može, uz obaveštenje Zajmoprimcu, da otkaže neisplaćeni deo Kredita i/ili da zahteva prevremenu otplatu Neizmirenog zajma do iznosa za koji Kredit premašuje ograničenja navedena u stavu (c) ispod, zajedno sa obračunatom kamatom i svim ostalim iznosima nastalim i neizmirenim po ovom ugovoru u odnosu na deo Neizmirenog zajma koji treba prevremeno da se otplati.

Zajmoprimac će isplatiti traženi iznos na datum koji je odredila Banka, pri čemu taj datum ne pada manje od 30 (trideset) dana od datuma takvog zahteva.

Za potrebe ovog člana, „Slučaj smanjenja troškova projekta” znači da ukupna vrednost Projekta pada ispod iznosa navedenog u tački (b) Preambule, tako da iznos Kredita (prelazi zajedno sa bilo kojim drugim kreditom dobijenim od Banke u svrhu finansiranja ovog projekta) prelazi:

(i)

50% (pedeset procenata); i/ili

(ii)

kada se sabere sa iznosom bilo kojih drugih sredstava Evropske Unije raspoloživim za Projekat, 70% (sedamdeset procenata),

takvih ukupnih troškova Projekta.

4.3.A(2) SLUČAJ PREVREMENE OTPLATE FINANSIRANjA KOJE NIJE OD STRANE EIB

Zajmoprimac će odmah obavestiti Banku ako je došlo do Slučaja prevremene otplate finansiranja koje nije od strane EIB ili će verovatno do njega doći. U bilo kom trenutku nakon nastanka Slučaja prevremene otplate finansiranja koje nije od strane EIB, Banka može, uz obaveštenje Zajmoprimcu, da otkaže neisplaćeni deo Kredita i da zahteva prevremenu otplatu Neizmirenog zajma, zajedno sa obračunatom kamatom i svim drugim nastalim i neizmirenim iznosima po ovom ugovoru u odnosu na deo Neizmirenog zajma koji se prevremeno otplaćuje.

Deo Kredita koji Banka može da otkaže i deo Neizmirenog zajma koji Banka može zahtevati da se prevremeno otplati biće jednak delu prevremeno otplaćenog iznosa Finansiranja koje nije od strane EIB u odnosu na ukupan neizmireni iznos svog Finansiranja koje nije od strane EIB.

Zajmoprimac će platiti traženi iznos na datum naveden od strane Banke, pri čemu taj datum ne pada manje od 30 (trideset) dana od datuma takvog zahteva.

Stav (a) se ne primenjuje ni na jednu dobrovoljnu prevremenu otplatu Finansiranja koje nije od strane EIB (ili ponovni otkup ili otkazivanje, u zavisnosti od slučaja) koje:

(i)

je učinjeno uz prethodnu pismenu saglasnost Banke;

(ii)

je učinjeno u okviru revolving kreditne linije;

(iii)

se sastoji od prihoda bilo kog finansijskog zaduženja sa rokom trajanja najmanje jednakom preostalom roku prevremene otplata Finansiranja koje nije od strane EIB.

Za potrebe ovog člana:

(i)

„Slučaj prevremene otplate finansiranja koje nije od strane EIB” označava svaki slučaj kada Zajmoprimac dobrovoljno prevremeno otplati (radi izbegavanja sumnje, takva prevremena otplata treba da uključi dobrovoljan otkup ili otkazivanje bilo koje obaveze poverioca, u zavisnosti od slučaja) deo ili celokupni iznos bilo kog Finansiranja koje nije od strane EIB; i

(ii)

„Finansiranje koje nije od strane EIB” označava svako finansijsko zaduženje (osim Zajma i bilo kog drugog direktnog finansijskog zaduženja Banke Zajmoprimcu ili bilo koju drugu obavezu plaćanja ili otplatu novca koji je prvobitno stavljen na raspolaganje Zajmoprimcu) na period duži od 5 (pet) godina.

4.3.A(3) SLUČAJ PROMENE ZAKONA

Zajmoprimac će bez odlaganja obavestiti Banku da je nastupio Slučaj promene zakona ili da će verovatno nastupiti. U takvom slučaju, ili ako Banka ima opravdan razlog da smatra da je nastupio ili da će nastupiti Slučaj promene zakona, Banka može zahtevati konsultovanje sa Zajmoprimcem. Takve konsultacije moraju se održati u roku od 30 (trideset) dana od datuma zahteva Banke. Ako je, po isteku 30 (trideset) dana od datuma takvog zahteva za konsultacije, Banka smatra da:

bi takav Slučaj promene zakona značajno umanjio sposobnost Zajmoprimca da ispuni svoje obaveze po ovom ugovoru, i

posledice Slučaja promene zakona ne mogu biti ublažene na način zadovoljavajući po nju,

Banka može, uz obaveštenje Zajmoprimca, da otkaže neisplaćeni deo Kredita i/ili da zahteva prevremenu otplatu Neizmirenog zajma, zajedno sa obračunatom kamatom i svim drugim obračunatim i neizmirenim iznosima prema ovom ugovoru.

Zajmoprimac će platiti traženi iznos na datum koji odredi Banka, pri čemu taj datum ne pada manje od 30 (trideset) dana od datuma takvog zahteva.

Za potrebe ovog člana, „Slučaj promene zakona” znači donošenje zakona, proglašavanje, potpisivanje ili ratifikaciju ili bilo koju promenu ili izmenu i dopunu bilo kog zakona, pravila ili propisa (ili u primeni ili u zvaničnom tumačenju bilo kog zakona, pravila ili propisa) koje se dogodi nakon datuma ovog ugovora i koje može da umanji sposobnost Zajmoprimca da ispuni svoje obaveze iz ovog ugovora.

4.3.A(4) SLUČAJ NEZAKONITOSTI

Po saznanju o Slučaju nezakonitosti:

(i)

Banka će odmah obavestiti Zajmoprimca, i

(ii)

Banka može odmah da (A) obustavi ili otkaže neisplaćeni deo Kredita, i/ili (B) zahteva prevremenu otplatu Neizmirenog zajma, zajedno sa obračunatom kamatom i svim drugim iznosima koji su obračunati i neizmireni po ovom ugovoru, na datum koji je Banka naznačila u svom obaveštenju Zajmoprimcu.

Za potrebe ovog člana, „Slučaj nezakonitosti” znači da:

(i)

postane nezakonito u bilo kojoj važećoj jurisdikciji, ili postane ili Banka razumno očekuje da može postati suprotnosti bilo kojim Sankcijama, da Banka:

(A) ispuni bilo koju od svojih obaveza kako je predviđeno ovim ugovorom; ili

(B) finansira ili održava Zajam;

ii)

Okvirni sporazum jeste ili će verovatno biti:

(A) odbačen od strane Republike Srbije ili neće obavezivati Republiku Srbiju u bilo kom pogledu;

(B) nevažeći u skladu sa svojim uslovima ili Zajmoprimac tvrdi da je nevažeći u skladu sa njegovim uslovima.

(C) prekršen od strane Republike Srbije, tako što bilo koja obaveza koju je preuzela Republika Srbija po Okvirnom sporazumu prestane da se ispunjava u pogledu bilo kog finansiranja bilo kom zajmoprimcu na teritoriji Republike Srbije iz sredstava Banke ili EU; ili

(D) nije primenljiv na Projekat ili se prava Banke po Okvirnom sporazumu ne mogu izvršiti u vezi sa Projektom;

iii)

u pogledu EFSD+ DIW1 garancije:

(A) nije više važeća ili nije na pravnoj snazi;

(B) uslovi za pokriće po tom osnovu nisu ispunjeni;

(D) Republika Srbija prestane da bude zemlja koja ispunjava uslove u skladu sa Uredbom NDICI-GE, Uredbom IPA III ili bilo kojim drugim važećim propisom ili instrumentom koji reguliše EFSD+.

4.3.A(5) NEUSPEH REALOKACIJE

Zajmoprimac će odmah prevremeno otplatiti bilo koji deo neizmirenog zajma, koji nije preraspoređen u skladu sa

članom 1.10

, zajedno sa obračunatom kamatom i svim ostalim iznosima akumuliranim ili neizmirenim po ovom ugovoru na datum koji odredi Banka, a da taj datum ne pada 30 (trideset) dana pre dana od dana podnošenja zahteva.

Član4.3.B

Mehanika prevremene otplate

Bilo koji iznos koji zahteva Banka u skladu sa

članom 4.3.A

, zajedno sa bilo kojom kamatom ili drugim obračunatim ili neizmirenim iznosima po ovom ugovoru uz, bez ograničenja, bilo koje naknade koja dospeva u skladu sa

članom 4.3.C

, plaća se na Datum prevremene otplate koji Banka naznači u njenom obaveštenju o zahtevu.

Član4.3.C

Naknada za prevremenu otplatu

4.3.C(1) TRANŠA SA FIKSNOM STOPOM

Ako Zajmoprimac prevremeno otplati Tranšu sa fiksnom kamatnom stopom u Slučaju prevremenog plaćanja sa naknadom, Zajmoprimac će platiti Banci na Datum prevremene otplate Naknadu za prevremenu otplatu u odnosu na Tranšu sa fiksnom kamatnom stopom koja je prevremeno otplaćena.

4.3.C(2) TRANŠA SA VARIJABILNOM STOPOM

Zajmoprimac može prevremeno da otplati Tranše sa varijabilnom stopom bez Naknade za prevremenu otplatu.

Član4.4

Opšte odredbe

Član4.4.A

Bez uticaja na član 10.

Ovaj

član 4.

ne utiče na

član 10.

Član4.4.B

Zabrana ponovnog pozajmljivanja

Otplaćeni ili prevremeno otplaćeni iznos se ne može ponovo pozajmiti.

Član 5.Čl. 5.1–5.5.C

Plaćanja

Član5.1

Konvencija o brojanju dana

Bilo koji iznos koji Zajmoprimac duguje na ime kamate, naknade ili Naknade za odlaganje po ovom ugovoru i koji je obračunat u odnosu na deo godine, biće određen na sledeći način:

za Tranšu sa fiksnom kamatom, uzima se godina od 360 (tri stotine i šezdeset) dana i mesec od 30 (trideset) dana; i

za Tranšu sa varijabilnom stopom, uzima se godina od 360 (tri stotine i šezdeset) dana i broj proteklih dana.

Član5.2

Vreme i mesto plaćanja

Ako drugačije nije navedeno u ovom ugovoru ili u zahtevu Banke, svaki iznos koji je različit od kamate, naknade i glavnice plativ je u roku od 15 (petnaest) dana po prijemu Zajmoprimca zahteva Banke.

Svaki iznos koji plaća Zajmoprimac po ovom ugovoru se plaća na odgovarajući račun koji je Banka naznačila Zajmoprimcu. Banka obaveštava o računu najmanje 15 (petnaest) dana pre datuma dospeća prvog plaćanja Zajmoprimca i obaveštava o bilo kojoj promeni računa najmanje 15 (petnaest) dana pre datuma prvog plaćanja na koje se ta promena primenjuje. Ovaj period obaveštavanja se ne primenjuje u slučaju plaćanja prema

članu 10.

Zajmoprimac će navesti Broj ugovora u detaljima plaćanja za svaku uplatu izvršenu po ovom ugovoru.

Iznos koji duguje Zajmoprimac smatraće se uplaćenim kada isti Banka primi.

Bilo koje isplate Banke i plaćanja Banci po ovom ugovoru vršiće se korišćenjem Računa za isplatu (za isplate Banke) i Računa za plaćanje (za plaćanja Banci).

Član5.3

Bez prava na kompenzaciju Zajmoprimca

Sva plaćanja koja Zajmoprimac treba da izvrši po ovom ugovoru biće obračunata i izvršena bez (i bez ikakvog odbitka za) kompenzacije ili protivpotraživanja.

Član5.4

Poremećaj u sistemima za plaćanje

Ako Banka utvrdi (po sopstvenom nahođenju) da je došlo do Slučaja poremećaja ili je Zajmoprimac obavesti da je došlo do Slučaja poremećaja:

Banka može, i obavezna je, ako Zajmoprimac to zatraži, da se konsultuje sa Zajmoprimcem u cilju dogovora o takvim promenama u obavljanju operacija ili administriranju ovog ugovora, koje Banka smatra neophodnim u datim okolnostima;

Banka nije u obavezi da se konsultuje sa Zajmoprimcem u vezi sa bilo kojim promenama pomenutim u stavu (a) ako, po njenom mišljenju, to nije izvodljivo u datim okolnostima i, u svakom slučaju, nema obavezu da se složi sa takvim promenama; i

Banka nije odgovorna za bilo kakvu štetu, troškove ili gubitke, koji nastanu kao rezultat Slučaja poremećaja ili za preduzimanje ili nepreduzimanje bilo koje radnje, u skladu sa ili u vezi sa ovim

članom 5.4

Član5.5

Primena primljenih iznosa

Član5.5.A

Opšte

Iznosi primljeni od Zajmoprimca ispunjavaju njegove obaveze plaćanja samo ako su primljeni u skladu sa uslovima ovog ugovora.

Član5.5.B

Delimična plaćanja

Ako Banka primi uplatu koja nije dovoljna za isplatu svih iznosa koji su dospeli i plativi za Zajmoprimca po ovom ugovoru, Banka će tu uplatu, redosledom navedenim u nastavku, primeniti:

srazmerno svakoj od neplaćenih provizija, troškova, naknada i rashoda koji dospevaju po ovom ugovoru;

na svaku obračunatu kamatu koja je dospela, ali je neplaćena po ovom ugovoru;

na svaku glavnicu koja je dospela, ali je neplaćena po ovom ugovoru; i

na svaki drugi iznos koji je dospeo, ali je neplaćen po ovom ugovoru.

Član5.5.C

Raspodela iznosa koji se odnose na Tranše

U slučaju:

(i)

delimične dobrovoljne prevremene otplate Tranše koja se otplaćuje u više rata, Iznos prevremene otplate primenjivaće se srazmerno svakoj neizmirenoj rati ili, na zahtev Zajmoprimca, obrnutim redosledom dospeća; ili

(ii)

delimične obavezne prevremene otplate Tranše koja se otplaćuje u više rata, Iznos prevremene otplate će se primeniti za smanjenje neizmirenih rata obrnutim redosledom dospeća.

Iznosi koje Banka primi nakon zahteva iz

člana 10.1

i primenjeni na Tranšu, smanjuju neizmirene rate obrnutim redosledom dospeća. Banka može primeniti iznose primljene između Tranši po sopstvenom nahođenju.

U slučaju prijema iznosa koji se ne mogu identifikovati kao primenljivi na određenu Tranšu, i o kojima ne postoji sporazum između Banke i Zajmoprimca o njihovoj primeni, Banka može da ih primeni između Tranši po sopstvenom nahođenju.

Član 6.Čl. 6.1–6.13

Obaveze i izjave Zajmoprimca

Obaveze iz člana 6. ostaju na snazi od Datuma stupanja na snagu onoliko dugo koliko bilo koji iznos bude neizmiren prema ovom ugovoru ili dok je Kredit na snazi.

A. OBAVEZE IZ PROJEKTA

Član6.1

Korišćenje Zajma i raspoloživost drugih sredstava

Zajmoprimac će, i osiguraće da isto učini i Promoter, iskoristiti sve iznose pozajmljene prema ovom ugovoru za izvršenje Projekta. Zajmoprimac će obezbediti da ima na raspolaganju i druga sredstva navedena u stavu (b) Preambule i da su ta sredstva potrošena, do potrebnog opsega, za finansiranje Projekta.

Zajmoprimac će sredstva od isplaćenih Tranši staviti na raspolaganje Promoteru na način da zaštiti interese Zajmoprimca i Banke i da se pridržava odredbi ovog ugovora i da ostvari svrhe za koje je Kredit obezbeđen.

6.2. Završetak Projekta

Zajmoprimac će i osiguraće da će i Promoter i Izvršilac projekta, sprovesti Projekat u skladu sa Tehničkim opisom i Pismima o alokaciji koji se mogu modifikovati s vremena na vreme uz odobrenje Banke, kao i da Projekat završi do krajnjeg datuma preciziranog u opisu.

Član6.3

Uvećani troškovi Projekta

Ako ukupni trošak Projekta premaši procenjenu cifru navedenu u stavu (b) Preambule, Zajmoprimac će obezbediti finansiranje uvećanog troška bez obraćanja Banci, tako da se omogući završetak Projekta u skladu sa Tehničkim opisom. Planovi za finansiranje uvećanog troška se saopštavaju Banci bez odlaganja.

Član6.4

Procedura nabavke

Zajmoprimac se i osiguraće da se i Promoter i Izvršilac projekta, obavezuje da kupi opremu, obezbedi usluge i naruči radove za Projekat po prihvatljivim procedurama nabavke u skladu, prihvatljivim za Banku, sa njenom politikom opisanom u njenom Vodiču za nabavke.

Član6.5

Trajne obaveze u vezi sa Projektom

Zajmoprimac, postupajući preko Promotera, će i osiguraće da i Izvršilac projekta:

Održavanje: održavati, popravljati, remontovati i obnavljati celokupnu imovinu koja čini deo Projekta u cilju održavanja u dobrom radnom stanju;

Projektna sredstva: osim ako Banka prethodno ne da svoj pristanak u pisanoj formi, zadržati pravo svojine i posed nad svim sredstvima, ili njihovog značajnog dela, koja čine Projekat ili, kada je to prikladno, zameniti i obnoviti takva sredstva i održavati Projekat u stalnoj funkciji u skladu sa njegovom prvobitnom namenom; Banka može da uskrati svoj pristanak Zajmoprimcu samo ukoliko bi predložene aktivnosti išle na štetu interesa Banke kao zajmodavca ili bi učinilo Projekat nekvalifikovanim za finansiranje od strane Banke prema njenom Statutu ili članu 309. Sporazuma o funkcionisanju Evropske unije;

Osiguranje: osigurati sve radove i imovinu koja čini deo Projekta kod prvoklasne osiguravajuće kompanije, u skladu sa standardnom praksom u industriji;

Prava i dozvole: održavati na snazi sva prava prolaza i upotrebe i sva Ovlašćenja neophodna za izvršenje i funkcionisanje Projekta; i

Ekološka i socijalna:

(i)

sprovođenje i funkcionisanje Projekta u skladu sa Ekološkim i socijalnim standardima;

(ii)

pribaviti i održavati potrebne Ekološke ili socijalne dozvole za Projekat;

(iii)

uskladiti se sa svim takvim Ekološkim ili socijalnim dozvolama; i

(iv)

obezbedi naknadna ažuriranja izveštaja o ekološkoj usklađenosti, gde je to relevantno, u skladu sa ekološkim odobrenjima, u vezi sa svim komponentama Projekta koje finansira Banka.

Računi: ako račun nije registrovan na Listi ovlašćenih potpisnika i računa, obezbediti da Promoter traži bilo koju isplatu od Zajmoprimca i da Zajmoprimac isplaćuje Promoteru u vezi sa Projektom preko bankarskog računa koji je u ime Promotera otvoren u ovlašćenoj finansijskoj instituciji u nadležnosti gde se Promoter nalazi ili gde se Projekat sprovodi od strane Promotera.

Član6.6

Dodatne obaveze

Zajmoprimac, postupajući preko Promotera, će i osiguraće da će i Izvršilac projekta:

obezbediti da pojedinačne alokacije budu u skladu sa kriterijumima podobnosti i zahtevima za izveštavanje kako je definisano u ovom ugovoru;

obezbediti da je JIP formirana i nastavlja da funkcioniše sa osobljem i resursima, između ostalog, za upravljanje pitanjima životne sredine, socijalnim pitanjima i pitanjima klimatskih promena, na zadovoljavajući način za Banku;

obezbediti da pre nego što se kredit dodeli za Pod-projekte koji su predmet Studije o proceni uticaja na životnu sredinu i društvo, da je Banka primila i da je zadovoljna studijama životne sredine i dokumentima koji se odnose na Studiju o proceni uticaja na životnu sredinu i društvo (uključujući izveštaj Studije o proceni uticaja na životnu sredinu i društvo, ekološku saglasnost);

preduzeti (kada je primenljivo) da ispuni zahteve studija uticaja na životnu sredinu (Izveštaj o proceni uticaja na životnu sredinu i društvo ili druge) i povezanih ekoloških dozvola;

kada je to primenljivo, uključujući i slučaj sticanja zemljišta ili raseljavanja, osigurati da Izvršilac projekta pripremi plan akcije za preseljenje (RAP) ili plan obnove sredstava za život (LRP) u skladu sa odobrenim opštim pristupom u slučaju raseljavanja ili sticanja zemljišta.

obezbediti da Izvršilac projekta izvrši Procenu ranjivosti na klimatske rizike na nivou cele mreže3 u ranoj fazi realizacije Projekta, a rezultati ove studije se dodaju kao deo višekriterijumske analize za izbor puta.

obezbediti da ne dođe do dvostrukog finansiranja Pod-projekta sa drugim zajmovima koje je obezbedila Banka istom Izvršiocu projekta.

odmah obavestiti Banku kada je implementacija bilo kog dodeljenog Pod- projekta obustavljena ili je Pod-projekat otkazan.

obezbediti da tenderski dosijei za sve ugovore koji će biti finansirani od strane Banke uključuju efikasan nacionalni mehanizam, kao što je predviđeno zakonima Zajmoprimca, za rešavanje pritužbi. Takav nacionalni mehanizam pravnog leka mora biti dostupan svakoj stranci koja je bila zainteresovana za dobijanje određenog ugovora i koja je bila ili rizikuje da bude oštećena navodnim kršenjem.

odmah obavestiti Banku o bilo kojim izmenama u početnim planovima nabavke.

konsultovati se sa Bankom pre ulaska u bilo koje materijalne izmene u ugovorima finansiranim iz Zajma kako bi se proverila usaglašenost sa odredbama iz Aneksa A ovog ugovora i zatražiti saglasnost Banke pre ulaska u bilo koje materijalne izmene u ugovorima finansiranim od strane

3 Biće definisano u kasnijoj fazi. Banke, kako je primenljivo prema najnovijoj verziji Vodiča za javne nabavke EIB-a4.

obezbediti da je Izvršilac projekta u skladu, na zadovoljstvo Banke, sa svim uslovima (ako postoje) uključenim u Pismu o alokaciji dostavljenom Zajmoprimcu i/ili Izvršiocu projekta za svaku alokaciju.

Banka može da identifikuje dodatne obaveze u procesu alokacije i povezanoj proceni pojedinačnog Pod-projekta.

B. OPŠTE OBAVEZE

Član6.7

Poštovanje zakona

Zajmoprimac će, i osiguraće da isto učini i Izvršilac projekta, poštovati u potpunosti sve zakone koji se odnose na njega ili na Projekat, nepoštovanje istih predstavljaće nesposobnost Zajmoprimca da ispuni svoje obaveze prema ovom ugovoru.

Član6.8

Promena u poslovanju

Zajmoprimac će obezbediti da se ne izvrši nikakva suštinska promena u osnovnoj delatnosti Izvršioca projekta koja se obavlja na datum ovog ugovora.

Član6.9

Poslovne knjige i evidencije

Zajmoprimac, postupajući preko Promotera, će i osiguraće da će i Izvršilac projekta:

osigurati da je vodio, ili da je Izvršilac projekta vodio, i da će nastaviti da vodi uredne knjige ispravne knjige i evidenciju računa, u kojima će se vršiti potpuni i tačni upisi svih finansijskih transakcija i imovina i poslovanje Zajmoprimca i Izvršioca projekta, uključujući troškove u vezi sa Projektom, u skladu sa GAAP koji su na snazi s vremena na vreme;

da vodi evidenciju o ugovorima finansiranim sredstvima Zajma, uključujući kopiju samog ugovora i materijalne dokumente u vezi sa nabavkom, najmanje 6 (šest) godina od suštinskog izvršenja ugovora; i,

osigurati da se knjige i evidencije na koje se odnose stavovi (a) i (b) iznad čuvaju najmanje do kasnijeg od (i) datuma koji pada 6 (šest) godina nakon poslednje otplate Kredita po ovom ugovoru; i (ii) datuma kada je, ako je Banka obavestila Zajmoprimca da je u toku u vezi sa Ugovorom, završena bilo kakva revizija, verifikacija, žalba, parnica ili pokrenut zahtev ili istraga od strane Evropske kancelarije za borbu protiv prevara (OLAF).

Član6.10

Integritet

Nedozvoljena radnja:

(i)

Zajmoprimac neće i osiguraće da ni Izvršilac projekta neće učestvovati u (niti će ovlastiti ili dozvoliti bilo kom drugom licu, koje postupa u njegovo ime, da učestvuje u) bilo kakvoj Nedozvoljenoj radnji u vezi sa Projektom, bilo kojoj tenderskoj proceduri za Projekat ili bilo kojoj transakciji koja je predviđena Ugovorom.

(ii)

Zajmoprimac se obavezuje i osiguraće da se i Izvršilac projekta obaveže da preduzme takve aktivnosti koje Banka može opravdano da zahteva kako bi se istražilo ili završilo neko navodno dešavanje ili se sumnjiči na dešavanja bilo koje Nedozvoljene radnje u vezi sa Projektom.

(iii)

Zajmoprimac se obavezuje i osiguraće da se i Izvršilac projekta obaveže da preduzme i obezbeđuje aktivnosti kako bi se obezbedilo da ugovori finansirani iz sredstava ovog zajma uključuju neophodne odredbe kako bi

4 https://www.eib.org/en/publications/20240132-guide-to-procurement-for-projects-financed-by-the-eib se omogućilo da Zajmoprimac ili Promoter istraže ili okončaju bilo koje navodno dešavanje ili nastupanje Nedozvoljene radnje u vezi sa Projektom na koje se sumnja.

Sankcije

Zajmoprimac neće i osiguraće da ni Izvršilac projekta neće, direktno ili indirektno:

održavati ili ulaziti u poslovni odnos sa, i/ili staviti na raspolaganje bilo kakva finansijska sredstva i/ili ekonomske resurse bilo kom Sankcionisanom licu ili u korist bilo kog Sankcionisanog lica u vezi sa Projektom,

ii)

koristiti ceo Zajam ili deo sredstava Zajma ili pozajmiti, dati ili na drugi način staviti na raspolaganje takva sredstva bilo kom licu na bilo koji način koji bi doveo do kršenja bilo kojih Sankcija od strane tog lica ili Banke; ili

iii)

finansirati celokupnu isplatu ili bilo koji njen deo prema ovom ugovoru iz sredstava koja su stečena aktivnostima ili poslovanjem sa Sankcionisanim licem, licem koje je prekršilo Sankcije ili na bilo koji drugi način koji bi doveo do kršenja bilo kojih Sankcija od strane tog lica i/ili Banke.

Potvrđuje se i prihvata da obaveze koje su navedene u ovom

članu 6.10 (b)

Banka traži i dostavlja samo u onoj meri u kojoj bi to bilo dozvoljeno u skladu sa bilo kojim važećim pravilom protiv bojkota EU, kao što je Uredba (EC) 2271/96.

Relevantna lica

Zajmoprimac će, i osiguraće da će i Izvršilac projekta, u razumnom vremenskom okviru, preduzeti odgovarajuće mere u odnosu na bilo koje Relevantno lice koje je predmet pravosnažne i neopozive sudske presude u vezi sa Nedozvoljenom radnjom počinjenom tokom obavljanja njenih profesionalnih dužnosti, kako bi se obezbedilo da takvo Relevantno lice bude isključeno iz bilo kakvih aktivnosti u vezi sa Zajmom i Projektom.

Član6.11

Zaštita podataka

Prilikom obelodanjivanja informacija (osim običnih kontakt informacija koje se odnose na osoblje Zajmoprimca koje je uključeno u upravljanje ovim ugovorom (u daljem tekstu: „Kontakt podaci”)) Banci u vezi sa ovim ugovorom, Zajmoprimac će urediti ili na drugi način izmeniti takve informacije (prema potrebi) tako da ne sadrže bilo kakve podatke koji se odnose na identifikovane ili one koji se mogu identifikovati (u daljem tekstu „Lični podaci”), osim kada se ovim ugovorom izričito zahteva, ili Banka izričito zahteva u pisanom obliku, da se takve informacije obelodane u obliku Ličnih podataka.

Pre obelodanjivanja bilo kakvog Ličnog podatka (osim Kontakt podataka) Banci u vezi sa ovim ugovorom, Zajmoprimac će obezbediti da svako lice na koje se ti lični podaci odnose:

(i)

bude obavešteno o obelodanjivanju Banci (uključujući kategorije Ličnih podataka koje treba obelodaniti); i

(ii)

bude obavešteno o podacima sadržanim u (ili mu je obezbeđen odgovarajući link) izjavi o privatnosti Banke u vezi sa njenim kreditnim i investicionim poslovanjem koje se s vremena na vreme navodi na https://www.eib.org/en/privacy/lending (ili na nekoj drugoj adresi o čemu Banka s vremena na vreme može pismenim putem obavestiti Zajmoprimca).

Član6.12

Opšte izjave i garancije

Zajmoprimac izjavljuje i garantuje Banci da:

on poseduje ovlašćenje da zaključi, preda i izvršava svoje obaveze prema ovom ugovoru i da su sve neophodne aktivnosti preduzete s njegove strane da se odobri zaključenje, predaja i izvršenje istog;

ovaj ugovor predstavlja njegove zakonski važeće, obavezujuće i izvršne obaveze;

zaključenje i predaja ovog ugovora, izvršavanje njegovih obaveza prema i u skladu sa odredbama ovog ugovora ne predstavljaju niti se očekuje da će predstavljati kršenje ili sukob sa:

(i)

bilo kojim važećim zakonom, statutom, pravilom ili propisom, ili bilo kojom sudskom odlukom, rešenjem ili dozvolom kojima je on predmet; i

(ii)

bilo kojim sporazumom ili drugim instrumentom obavezujućim za Zajmoprimca, za koji se može razumno očekivati da ima materijalno štetno dejstvo po sposobnost Zajmoprimca da izvrši svoje obaveze prema ovom ugovoru;

nije bilo Materijalno štetne promene od 14. aprila 2025. godine;

nije došlo ni do kakvog događaja ili okolnosti koji čine Slučaj neispunjenja obaveza, niti isti traju bez pravnog leka ili odricanja;

nikakva parnica, arbitraža, upravni postupak ili istraga nisu u toku, ili su prema njegovom saznanju zaprećeni ili nerešeni pred bilo kojim sudom, arbitražnim telom ili agencijom, koji bi doveli, ili ako bi se nepovoljno rešili postoji verovatnoća da bi doveli do Materijalno štetne promene, niti da protiv njega postoji bilo kakvo neizvršenje presude ili sudske kazne.

je pribavio sva neophodna Odobrenja u vezi sa ovim ugovorom, da bi ispunio na zakonski način sve odredbe definisane istim, i Projektom, kao i da su sva Odobrenja na snazi i izvršiva i prihvatljiva kao dokaz;

se njegove obaveze plaćanja prema ovom ugovoru rangiraju najmanje pari- passu u pogledu plaćanja sa svim drugim sadašnjim i budućim neobezbeđenim i nezavisnim obavezama po osnovu bilo kog instrumenta zaduživanja Zajmoprimca, osim obaveza kojima se po zakonu daje prioritet;

saglasan je sa svim obavezama prema

članu 6.5(e)

i da prema njegovom saznanju i uverenju (nakon detaljne istrage) nijedna Ekološka ili socijalna tužba nije podignuta ili postoji pretnja da će se podići protiv njega, a u vezi sa Projektom;

u skladu je sa svim obavezama prema ovom

članu 6

;

prema njegovom najboljem saznanju, nikakva sredstva uložena u Projekat od strane Zajmoprimca nisu nezakonitog porekla, uključujući proizvode Pranja novca ili povezane sa Finansiranjem terorizma; i

ni Zajmoprimac ni, prema njegovom najboljem saznanju, Relevantna lica, nisu počinili (i) bilo kakvu Nedozvoljenu radnju u vezi sa Projektom ili bilo kakvom transakcijom predviđenom Ugovorom; ili (ii) bilo kakvu nelegalnu aktivnost povezanu sa Finansiranjem terorizma ili Pranjem novca;

Projekat (uključujući bez limita, pregovaranje, dodelu ili izvršavanje ugovora finansiranih ili koji će se finansirati iz Zajma) nije bio uključen niti je dao podsticaj Nedozvoljenoj radnji;

ni Zajmoprimac niti, prema njegovom najboljem saznanju, bilo koje Relevantno lice nisu:

(i)

Sankcionisano lice; ili

(ii)

krše bilo koju Sankciju koje važe za njih ili bilo koju Relevantnu osobu (respektivno).

Potvrđuje se i prihvata da izjave navedene u ovom stavu (n) Banka traži i dostavlja samo u onoj meri u kojoj bi to bilo dozvoljeno u skladu sa bilo kojim važećim pravilom protiv bojkota EU, kao što je Uredba (EC) 2271/96.

Izjava časti od 19. decembra 2025. godine, je istinita u svakom pogledu.

Izjave i garancije napred obrazložene su sačinjene na datum ovog ugovora i smatraju se, sa izuzetkom izjava navedenih u stavu (d), ponovljenim s obzirom na činjenice i okolnosti koje su postojale na datum svakog Prihvatanja isplate, svakog Datuma isplate i na svaki Datum plaćanja.

Član6.13

Sukob interesa

U skladu sa opštom obavezom prema Vodiču za nabavke za Zajmoprimca, koji postupa preko Izvršioca projekta, da uspešno spreči, prepozna ili otkloni sukobe interesa, Zajmoprimac, postupajući preko Promotera će, i osiguraće da isto učini i Izvršilac projekta, obezbediti da pre dodele bilo kog ugovora koji je finansiran u okviru Projekta:

identifikuje i blagovremeno obavesti Banku o Stvarnim vlasnicima uspešnog ponuđača (uključujući partnere u zajedničkom ulaganju i podizvođače) koji su Bliski saradnici ili članovi porodice predstavnika, člana(ova) upravljačkih tela ili višeg(ih) službenika Zajmoprimca ili Izvršioca projekta; i

da usvoji adekvatne mere za rešavanje bilo kakvog potencijalnog sukoba interesa kao što je finansijski, ekonomski ili drugi lični interes između identifikovanog(ih) Stvarnog(ih) vlasnika i bilo kog(jih) člana(ova) upravljačkih tela Zajmoprimca ili Izvršioca projekta, predstavnika ili višeg(ih) službenika.

Za svrhe ovog člana:

„Direktive o sprečavanju pranja novca” označava Četvrtu i Petu AML Direktivu.

„Četvrta Direktiva o sprečavanju pranja novca” označava Direktivu 2015/849 Evropskog parlamenta i Saveta od 20. maja 2015. godine o sprečavanju korišćenja finansijskog sistema u svrhe pranja novca ili finansiranja terorizma sa izmenama, dopunama i preinačenjima.

„Peta Direktiva o sprečavanju pranja novca” označava Direktivu 2018/843 Evropskog parlamenta i Saveta od 19. juna 2018. godine o sprečavanju pranja novca i finansiranja terorizma sa izmenama, dopunama i preinačenjima. „Stvarni vlasnik(ci)” ima značenje dodeljeno tom pojmu u AML Direktivama.

„Bliski saradnik(ci)” označava „osobe za koje se zna da su bliski saradnici” kako je definisano u AML Direktivama.

„Član(ovi) porodice” ima značenje dato tom terminu u AML Direktivama.

ČLAN 7.Čl. 7.1–7.3

Obezbeđenje

Obaveze u ovom članu 7. ostaju na snazi od datuma efektivnosti, sve dok postoji neki neizmiren iznos po ovom ugovoru ili Kreditu koji je na snazi.

Član7.1

Pari passu rangiranje

Zajmoprimac obezbeđuje da se njegove obaveze plaćanja po ovom ugovoru rangiraju, i budu rangirane, najmanje pari-passu u pogledu prava na plaćanje sa svim drugim sadašnjim i budućim neobezbeđenim i nezavisnim obavezama po osnovu bilo kog instrumenta zaduživanja Zajmoprimca, osim obaveza kojima se po zakonu daje prioritet. Naročito, ako Banka uputi zahtev iz

člana 10.1

ili ako je slučaj neispunjenja ili potencijalni slučaj neispunjenja nastupio i traje po bilo kom neobezbeđenom i nezavisnom instrumentu spoljnog duga Zajmoprimca ili u bilo kojoj od njegovih agencija ili sredstava, Zajmoprimac neće vršiti (niti odobriti) bilo kakvo plaćanje u vezi s drugim takvim instrumentom spoljnog duga (bilo da je redovno planirano ili ne) ukoliko istovremeno ne plati ili ne izdvoji na namenski račun za plaćanje na naredni Datum plaćanja iznos jednak onom delu neizmirenog duga na osnovu ovog ugovora koji odgovara učešću konkretnog plaćanja po osnovu tog instrumenta spoljnog duga u ukupnom neizmirenom dugu po osnovu tog instrumenta. Za potrebe ove odredbe ne uzimaju se u obzir plaćanja po instrumentu spoljnog duga koja se vrše iz sredstava dobijenih emitovanjem drugog instrumenta koji su upisala suštinski ista lica koja imaju potraživanja i po dotičnom instrumentu spoljnog duga.

U ovom ugovoru, „Instrument spoljnog duga” znači (a) instrument, uključujući svaku priznanicu ili izvod računa kojim se dokazuje ili koji predstavlja obavezu otplate zajma, depozita, avansa ili sličan vid produženja kredita (uključujući bez ograničenja svako produženje kredita pod sporazumom o refinansiranju ili reprogramu), (b) obavezu koja se dokumentuje obveznicom, dužničkom hartijom od vrednosti ili sličnim pisanim dokazom zaduženja; ili (c) garanciju koju daje Zajmoprimac za obavezu treće strane; u svakom slučaju pod uslovom da je takva obaveza: (i) regulisana pravnim sistemom koji nije pravo Zajmoprimca; (ii) plativa u valuti koja nije valuta države Zajmoprimca; ili (iii) plativa povezanom licu sa mestom prebivališta ili stanovanja ili licu koje ima sedište ili glavno mesto poslovanja van države Zajmoprimca.

Član7.2

Dodatno obezbeđenje

Ukoliko Zajmoprimac dodeli trećoj strani bilo koje sredstvo obezbeđenja za izvršenje bilo kog Instrumenta spoljnog duga ili bilo koju povoljnost ili prioritet s njim u vezi, Zajmoprimac će, ukoliko Banka to zatraži, obezbediti Banci ekvivalentno sredstvo obezbeđenja za izvršenje svojih obaveza po ovom ugovoru ili će dodeliti Banci istu povoljnost ili prioritet.

Član7.3

Klauzule po unosu

Ako Zajmoprimac zaključi sa bilo kojim drugim finansijskim poveriocem finansijski ugovor koji sadrži klauzulu o gubitku kreditnog rejtinga ili ugovornu odredbu ili drugu odredbu u pogledu njegovih finansijskih odnosa, ako je primenljivo, što nije predviđeno u ovom ugovoru ili je povoljnije za odgovarajućeg finansijskog poverioca nego što je bilo koja ekvivalentna odredba ovog ugovora za Banku, Zajmoprimac će odmah obavestiti Banku i obezbediti primerak povoljnije odredbe Banci. Banka može zahtevati da Zajmoprimac odmah zaključi sporazum o izmeni i dopuni ovog ugovora, tako da dodeli Banci ekvivalentnu povoljnost.

ČLAN 8.Čl. 8.1–8.4

Informacije i posete

Član8.1

Informacije o Projektu

Zajmoprimac (preko Izvršioca projekta ili Promotera) će:

dostaviti Banci:

(i)

informacije u sadržaju i formi, kao i ponekad, određene u Prilogu A ili drugačije u zavisnosti kako se Strane dogovore s vremena na vreme; i

(ii)

bilo koje informacije ili dodatni dokument koji se odnosi na finansiranje, nabavku, sprovođenje, funkcionisanje Projekta i sa njim povezana Ekološka i sociološka pitanja, ili bilo koju informaciju ili dodatni dokument koji Banka zahteva radi ispunjavanja svojih obaveza prema Uredbi NDICI- GE ili Finansijskoj uredbi, što Banka može opravdano da zahteva u razumnom roku,

pod uslovom da uvek kada se takva informacija ili dokument ne dostavi Banci na vreme, a Zajmoprimac (preko Promotera ili Izvršioca projekta) ne ispravi propust u razumnom roku koji Banka utvrdi pisanim putem, Banka može ispraviti nastali propust, u meri koliko je to moguće, tako što će angažovati sopstvene zaposlene ili konsultanta ili bilo koju treću stranu, a o trošku Zajmoprimca, kada je primenljivo (u okviru razumnog limita i dokumentovanih troškova), pri čemu će Zajmoprimac (preko Promotera ili Izvršioca projekta) pomenutim licima obezbediti svu pomoć neophodnu za napred navedenu namenu;

na odobrenje Banci bez odlaganja bilo kakvu materijalnu promenu Projekta, takođe uzimajući u obzir sve činjenice u vezi sa Projektom dostupne Banci pre potpisivanja ovog ugovora, vezano za, između ostalog, cenu, dizajn, planove, rokove ili programe izdataka ili finansijskog plana Projekta;

da odmah informiše Banku o:

(i)

bilo kakvom pokrenutom postupku ili protestu, odnosno primedbi bilo koje treće strane, bilo kojoj žalbi koju primi Zajmoprimac i/ili Izvršilac projekta, a koja je materijalna u pogledu ekoloških, socijalnih ili drugih pitanja koja se tiču Projekta;

(ii)

bilo kakvoj Ekološkoj ili socijalnoj tužbi koja je po njegovom saznanju pokrenuta, u toku ili zaprećena protiv njega;

(iii)

svakoj činjenici ili događaju poznatom Zajmoprimcu, koji može značajno ugroziti ili uticati na uslove za sprovođenje ili funkcionisanje Projekta;

(iv)

bilo koji incident ili nesreća u vezi sa Projektom koji ima ili će verovatno imati značajan negativan uticaj na Životnu sredinu ili na Socijalna pitanja;

(v)

bilo kom nepoštovanju bilo kog Ekološkog i socijalnog standarda;

(vi)

bilo kojoj obustavi, stavljanju van snage ili promeni Ekološke ili socijalne dozvole,

(vii)

istinitoj tvrdnji, žalbi ili informaciji koja se tiče Nedozvoljene radnje ili bilo kojih Sankcija u vezi sa Projektom;

(viii)

ukoliko sazna neku činjenicu ili informaciju koja potvrđuje ili opravdano nagoveštava da (a) se dogodila bilo koja Nedozvoljena radnja ili bilo koje kršenje Sankcija u vezi sa Projektom, ili (b) su bilo koja sredstva investirana u njegov udeo u kapitalu ili u Projekat nezakonitog porekla; i

predloži mere koje treba preduzeti u vezi sa takvim pitanjima; i

da dostavi Banci, ukoliko je to zatraženo od njega:

(i)

sertifikat od njegovih osiguravača koji pokazuje ispunjenje zahteva iz

člana 6.5(c)

;

(ii)

godišnje, spisak važećih polisa koje pokrivaju osiguranje imovine koja čini deo Projekta, zajedno sa potvrdom o plaćanju aktuelnih premija; i

(iii)

tačne kopije ugovora finansiranih sredstvima zajma i dokaz o troškovima u vezi sa povlačenjima.

Član8.2

Informacije o Zajmoprimcu

Zajmoprimac će i osiguraće da će i Izvršilac projekta (kada je primenjivo):

dostaviti Banci dodatne informacije, dokaze ili dokumentaciju o:

(i)

opštem finansijskom stanju Izvršioca projekta, njegove poslednje dostupne revidirane finansijske izveštaje ili takve sertifikate o usklađenosti sa

članom 6

; i

(ii)

usaglašenosti sa zahtevima Banke o dužnoj pažnji Zajmoprimca i/ili Izvršioca projekta, uključujući, ali ne ograničavajući se na „upoznaj svog klijentaˮ (KYC) ili slične utvrđene i verifikovane procedure,

na zahtev i u razumnom roku; i

odmah obavestiti Banku o:

(i)

bilo kakvoj materijalnoj promeni u statutu Izvršioca projekta ili u strukturi udela akcionara i o bilo kojoj promeni vlasništva od 5% ili više njegovih akcija nakon datuma ovog ugovora;

(ii)

bilo kojoj činjenici koja ga obavezuje da prevremeno otplati bilo koje finansijsko dugovanje ili bilo koje finansiranje Evropske Unije;

(iii)

bilo kom događaju ili odluci koji predstavljaju ili imaju za rezultat Slučaj prevremene otplate;

(iv)

bilo kojoj nameri sa njegove strane da se odrekne vlasništva nad bilo kojom materijalnom komponentom Projekta;

(v)

o bilo kojoj činjenici ili događaju koji bi razumno verovatno mogli da spreče suštinsko ispunjenje bilo koje obaveze Zajmoprimca, u okviru ovog ugovora;

(vi)

bilo kom Slučaju neispunjenja obaveza koji je nastupio ili se očekuje, odnosno preti da se dogodi;

(vii)

osim ako je zakonom zabranjeno, bilo kom predmetnom sporu, arbitraži, upravnom postupku ili istrazi koju vodi neki sud, administracija ili sličan državni organ, koji je, po njegovom najboljem znanju i uverenju, u toku, neminovan ili nerešen u odnosu na Zajmoprimca, a u vezi sa Nedozvoljenom radnjom vezanom za Kredit, Zajam ili Projekat; bilo kojoj meri koju je Zajmoprimac preduzeo prema

članu 6.12

ovog ugovora;

(viii)

bilo kojoj parnici, arbitraži ili upravnom postupku ili istrazi koja je u toku, zaprećena ili nerešena, i koja može ako se nepovoljno reši, rezultirati nekom Materijalno štetnom promenom; i

(ix)

bilo kojoj tvrdnji, radnji, postupku, zvaničnom obaveštenju ili istrazi u vezi sa bilo kojim Sankcijama koje se tiču Zajmoprimca, Izvršioca projekta, ili bilo kojeg Relevantnog lica.

Član8.3

Posete, pravo na pristup i istragu

Zajmoprimac će, i osiguraće da isto učini i Izvršilac projekta, dozvoliti Banci, i kada to zahtevaju relevantne obavezujuće odredbe Prava EU ili prema Uredbi NDICI-GE ili Finansijskoj uredbi, po potrebi, Evropskom sudu revizora, Evropskoj komisiji, Evropskoj kancelariji za borbu protiv prevara i Evropskom javnom tužilaštvu, kao i licima koje odrede gore navedeni (svaki „Relevantna stranaˮ):

(i)

da posete lokacije, instalacije i radove koji čine Projekat;

(ii)

da razgovaraju sa predstavnicima Zajmoprimca i/ili Izvršioca projekta, da ne sprečavaju kontakte sa bilo kojim drugim licem uključenim u ili na koje Projekat utiče;

(iii)

sprovedu istrage, inspekcije, revizije i provere na licu mesta po želji i pregledaju knjige i evidencije Zajmoprimca i/ili Izvršioca projekta u vezi sa Zajmom, Ugovorom i sprovođenjem Projekta i da budu u mogućnosti da uzmu kopije dokumenata u vezi sa Projektom u meri u kojoj je to dozvoljeno zakonom; i

Zajmoprimac (preko Promotera ili Izvršioca projekta) će obezbediti Banci i bilo kojoj Relevantnoj strani, ili omogućiti da Banci i Relevantnim stranama bude obezbeđen pristup informacijama, objektima i dokumentaciji, kao i da dobiju svu neophodnu pomoć za svrhe objašnjene u ovom članu.

Pored navedenog, Zajmoprimac će dozvoliti Evropskoj komisiji i Delegaciji Evropske unije u Republici Srbiji da učestvuju u svim misijama za praćenje koje Banka organizuje u vezi sa ovim ugovorom, Zajmom ili Projektom.

U slučaju istinite tvrdnje, žalbe ili informacije koje se tiču Nedozvoljene radnje u vezi sa Zajmom i/ili Projektom, Zajmoprimac će (i osiguraće da će i Izvršilac projekta) se u dobroj veri konsultovati sa Bankom u vezi sa odgovarajućim radnjama. Naročito, ako se dokaže da je treća strana počinila Nedozvoljenu radnju u vezi sa Zajmom i/ili Projektom koje je rezultiralo da je Zajam zloupotrebljen, Banka može, ne dovodeći u pitanje druge odredbe ovog ugovora, da obavesti Zajmoprimca ako, po njenom mišljenju, Zajmoprimac treba da preduzme odgovarajuće mere naplate od te treće strane. U svakom takvom slučaju, Zajmoprimac će u dobroj veri razmotriti stavove Banke i obaveštavati je.

Član8.4

Objavljivanje i publikovanje

Zajmoprimac potvrđuje i saglasan je da:

(i)

Banka može biti u obavezi da objavi informacije i materijal u vezi sa Zajmoprimcem, Zajmom, Ugovorom i/ili Projektom bilo kojoj instituciji ili telu Evropske unije, uključujući Evropski revizorski sud, Evropsku komisiju, bilo koju relevantnu Delegaciju Evropske unije, Evropsku kancelariju za borbu protiv prevara i Evropsko javno tužilaštvo, koji mogu biti neophodni u sprovođenju njihovih zadataka u skladu sa Pravom EU (uključujući Uredbu NDICI i Finansijsku uredbu); i

(ii)

Banka može da objavi na svom sajtu i/ili društvenim mrežama, i/ili da izda saopštenje za javnost koje sadrži informacije u vezi sa obezbeđenim finansiranjem u skladu sa ovim ugovorom uz podršku EFSD+ DIW1 garancije, uključujući naziv, adresu i zemlju u kojoj se Zajmoprimac nalazi, svrhu finansiranja, vrstu i iznos dobijene finansijske podrške prema ovom ugovoru.

Zajmoprimac:

(i)

potvrđuje poreklo finansijske podrške Evropske unije u okviru EFSD+ DIW1 Ugovora o garanciji;

(ii)

će obezbediti vidljivost finansijske podrške Evropske unije u okviru Evropskog fonda za održivi razvoj plus, posebno kada se promoviše ili izveštava o Zajmoprimcu, ovom ugovoru, Zajmu ili Projektu, i njihovim rezultatima, na vidljiv način na komunikacionom materijalu koji se odnosi na Zajmoprimca, ovaj ugovor, Zajam ili Projekat, i da se pruže koherentne, efektivne i proporcionalne ciljane informacije različitoj publici, uključujući medije i javnost, pod uslovom da je sadržaj komunikacionog materijala prethodno usaglašen sa Bankom; i

(iii)

će se konsultovati sa Bankom, Komisijom i Delegacijom EU u Republici Srbiji u vezi sa obaveštenjem o potpisivanju ovog finansijskog ugovora.

ČLAN 9.Čl. 9.1–9.3

Rashodi i troškovi

Član9.1

Porezi, dažbine i naknade

Zajmoprimac plaća sve poreze, dažbine, naknade i druge namete bilo koje vrste, uključujući i taksene marke i naknade za registraciju, koje proizilaze iz zaključenja ili realizacije ovog ugovora ili bilo kog dokumenta vezanog za ovaj ugovor, kao i pri izradi, usavršavanju, registraciji ili primeni bilo kakvog Obezbeđenja za Zajam, u meri u kojoj je to primenljivo.

Zajmoprimac plaća sve iznose na ime glavnice, kamate, obeštećenja i druge iznose koji dospevaju po ovom ugovoru bruto bez zadržavanja ili odbitka bilo kakvih državnih ili lokalnih nameta koje iziskuje zakon ili ugovor sa državnim ili nekim drugim organom. U slučaju da je obavezan da napravi takve odbitke, Zajmoprimac uvećava iznos koji plaća Banci za iznos pomenutih odbitaka tako da, po odbitku, neto iznos koji Banka primi bude ekvivalentan dospelom iznosu.

Član9.2

Ostali troškovi

Zajmoprimac plaća sve troškove i izdatke, uključujući stručne, bankarske ili menjačke troškove, nastale u vezi sa pripremom, zaključenjem, sprovođenjem, primenom i raskidom ovog ugovora ili bilo kog dokumenta, uključujući sve njihove izmene, dopune ili odricanja u vezi sa ovim ugovorom ili bilo kog s njim povezanog dokumenta, kao i izmenu, izradu, upravljanje, izvršenje i realizaciju bilo kog sredstva obezbeđenja Zajma.

Član9.3

Uvećani troškovi, naknada i kompenzacija

Zajmoprimac plaća Banci bilo koje iznose ili izdatke kojima je Banka bila izložena, ili ih je pretrpela, kao posledicu uvođenja ili bilo koje promene u (ili u tumačenju, administraciji ili primeni) bilo kog zakona ili propisa ili usaglašavanja sa bilo kojim zakonom ili propisom načinjenim nakon datuma potpisivanja ovog ugovora, u skladu sa ili kao rezultat čega: (i) Banka u obavezi da pretrpi dopunske troškove da bi finansirala ili izvršila svoje obaveze prema ovom ugovoru, ili (ii) bilo koji iznos, koji se duguje Banci prema ovom ugovoru ili finansijski prihod koji je rezultat dodele Kredita ili Zajma od strane Banke Zajmoprimcu, smanjen ili ukinut.

Ne odričući se bilo kojih drugih prava Banke prema ovom ugovoru ili prema bilo kojem merodavnom zakonu, Zajmoprimac obeštećuje i obezbeđuje da Banka nema štete od i protiv bilo kog gubitka pretrpljenog kao rezultat bilo kog plaćanja ili delimične isplate, koja se dešava na način drugačiji od onoga kako je izričito navedeno u ovom ugovoru.

Banka može da kompenzuje bilo koju dospelu obavezu Zajmoprimca prema ovom ugovoru (u meri u kojoj je Banka njihov stvarni vlasnik) u odnosu na bilo koju obavezu (bilo da je dospela ili ne) koju Banka duguje Zajmoprimcu, nezavisno od mesta plaćanja, filijale knjiženja ili valute bilo koje obaveze. Ako su obaveze u različitim valutama, Banka može konvertovati bilo koju obavezu po tržišnom deviznom kursu koji primenjuje u svom redovnom poslovanju, radi poravnanja. Ako je bilo koja obaveza nelikvidna ili neutvrđena, Banka može izvršiti poravnanje u iznosu, za koji proceni u dobroj veri da je to iznos te obaveze.

ČLAN 10.Čl. 10.1–10.4

Slučajevi neispunjenja obaveza

Član10.1

Pravo na zahtevanje otplate

Zajmoprimac otplaćuje u celosti ili deo Neizmirenog zajma (po zahtevu Banke) odmah, zajedno sa dospelom kamatom i svim drugim dospelim ili neizmirenim iznosima prema ovom ugovoru, po pisanom zahtevu Banke, u skladu sa sledećim odredbama.

Član10.1.A

Hitan zahtev

Banka može odmah da podnese takav zahtev bez prethodnog obaveštenja (mise en demeure préalable) ili nekog sudskog ili van sudskog koraka:

ako Zajmoprimac ne plati na datum dospeća bilo koji iznos plativ prema ovom ugovoru u mestu i u valuti u kojoj je on izražen kao plativ, osim ako je:

(i)

neuspešno plaćanje uzrokovano nekom administrativnom ili tehničkom greškom ili nekim Slučajem poremećaja; i

(ii)

plaćanje izvršeno u roku od 3 (tri) Radna dana od njegovog datuma dospeća;

ako bilo koja informacija ili dokument dostavljeni Banci od strane ili u ime Zajmoprimca i/ili Izvršioca projekta (ako je primenjivo) ili bilo koja izjava, garancija ili izveštaj koje Zajmoprimac i/ili Izvršilac projekta (ako je primenjivo) daje ili se smatra da daje u vezi sa ili za svrhe zaključivanja ovog ugovora ili u vezi sa pregovorima ili izvršenjem ovog ugovora jeste ili se dokaže da je ne- tačna, nepotpuna ili obmanjujuća u bilo kom materijalnom pogledu;

ako se, prateći bilo koje neispunjenje ugovornih obaveza od strane Zajmoprimca u odnosu na bilo koji zajam, ili bilo koju obavezu koja proističe iz bilo koje finansijske transakcije, a koja nije Zajam:

(i)

od Zajmoprimca zahteva ili može da se zahteva, ili će se po isteku bilo kog važećeg ugovornog perioda počeka od njega zahtevati ili moći da se zahteva prevremena otplata, izmirenje, zatvaranje ili raskid pre dospeća takvog drugačijeg zajma ili obaveze; ili

(ii)

bilo koja finansijska obaveza za takav drugačiji zajam ili obavezu bude otkazana ili obustavljena;

ako Zajmoprimac nije u mogućnosti da plati svoje dugove o dospeću, ili ako obustavi plaćanje svojih dugova, ili načini ili pokuša da postigne dogovor o reprogramu obaveza sa svojim poveriocima;

ako hipotekarni poverilac preuzme vlasništvo ili ukoliko je postavljen stečajni upravnik, likvidacioni upravnik, staratelj, administrativni stečajni upravnik ili sličan činovnik, bilo po odluci nadležnog suda ili nekog nadležnog organa uprave, nad bilo kojom imovinom koja je deo Projekta;

ako Zajmoprimac ne ispuni bilo koju obavezu po osnovu bilo kog drugog zajma koji je dodelila Banka ili finansijskog instrumenta u koji je ušao sa Bankom, ili bilo kog drugog zajma ili finansijskog instrumenta iz sredstava Banke ili Evropske unije;

ako se bilo koja eksproprijacija, hapšenje, zaustavljanje, zabrana, plenidba, konfiskovanje ili drugi proces nametne ili izvrši na bilo kojoj imovini koja je deo Projekta i nije oslobođena ili prekinuta u roku od 14 (četrnaest) dana;

ako se dogodi neka Materijalno štetna promena, u poređenju sa stanjem Zajmoprimca na datum zaključenja ovog ugovora; ili

ako jeste ili postane nezakonito za Zajmoprimca da izvršava bilo koju od njegovih navedenih obaveza prema ovom ugovoru, ili ovaj ugovor nije punovažan u skladu sa svojim uslovima ili se tvrdi od strane Zajmoprimca da je nevažeći, u skladu sa svojim uslovima.

Član10.1.B

Zahtev nakon obaveštenja o pravnom leku

Banka takođe može da postavi takav zahtev bez prethodnog obaveštenja (mise en demeure préalable) ili nekog sudskog ili vansudskog koraka (ne dovodeći u pitanje bilo koje obaveštenje navedeno u nastavku):

ako Zajmoprimac ne ispuni bilo koju obavezu prema ovom ugovoru (osim onih navedenih u

članu 10.1.A

); ili

ako se bilo koja činjenica u vezi sa Zajmoprimcem ili Projektom, navedena u Preambuli materijalno promeni i ne vrati se u prethodno materijalno stanje i ako promena šteti bilo interesima Banke kao zajmodavca Zajmoprimcu, ili nepovoljno utiče na sprovođenje ili funkcionisanje Projekta,

osim ako neispunjenje ili okolnost zbog koje je došlo do neispunjenja moguće ispraviti i ukoliko se ispravi u razumnom roku navedenom u obaveštenju Banke Zajmoprimcu.

Član10.2

Ostala prava po zakonu

Član 10.1

ne ograničava nijedno drugo pravo Banke po zakonu koje joj omogućava da zatraži prevremenu otplatu Neizmirenog zajma.

10.3.Čl. 10.3.A–10.3.B

Naknada

Član10.3.A

Tranše sa fiksnom stopom

U slučaju zahteva po

članu 10.1

, u pogledu bilo koje Tranše sa fiksnom stopom, Zajmoprimac plaća Banci traženi iznos, zajedno sa obeštećenjem za prevremenu otplatu na bilo koji iznos glavnice dospele za prevremenu otplatu. Takvo obeštećenje za prevremenu otplatu: (i) se obračunava od datuma dospeća za plaćanje, koji je naveden u zahtevu Banke i biće izračunato na osnovu prevremene otplate izvršene na navedeni datum i (ii) biće za iznos koji Banka saopšti Zajmoprimcu kao trenutnu vrednost (obračunatu od datuma prevremene otplate) viška, ako postoji, za:

kamatu koja bi se pripisala posle toga na iznos prevremene otplate tokom perioda od datuma prevremene otplate do Datuma revizije/konverzije kamate, ako postoji, ili Datuma dospeća, ako nije ranije otplaćen; preko

kamatu koja bi se tako pripisala tokom tog perioda, da je obračunata po Stopi preraspodele, umanjenoj za 0,19% (devetnaest baznih poena).

Navedena sadašnja vrednost će biti obračunata po diskontnoj stopi jednakoj Stopi preraspodele, primenjenoj na svaki relevantni Datum plaćanja odgovarajuće Tranše.

Član10.3.B

Opšte

Iznosi koje Zajmoprimac duguje u skladu s

članom 10.3

dospevaju na naplatu na datum naveden u zahtevu Banke.

Član10.4

Neodricanje

Nijedan slučaj neostvarivanja ili odlaganja ili pojedinačnog ili delimičnog izvršenja od strane Banke u ostvarivanju bilo kog od njenih prava ili pravnih lekova prema ovom ugovoru se ne tumače kao neko odricanje od takvog prava ili pravnog leka. Prava i pravni lekovi predviđeni ovim ugovorom su kumulativni i ne isključuju bilo koja prava ili pravne lekove predviđene zakonom.

ČLAN 11.Čl. 11.1–11.8

Pravo i nadležnost, razno

Član11.1

Merodavno pravo

Na ovaj ugovor i bilo koje van-ugovorne obaveze koje proizilaze iz njega ili u vezi sa njim, primenjuju se zakoni Luksemburga.

Član11.2

Nadležnost

Sud pravde Evropske unije ima isključivu nadležnost u rešavanju bilo kog spora (u daljem tekstu: „Spor”) koji proistekne iz ili je u vezi sa ovim ugovorom (uključujući spor o postojanju, valjanosti ili raskidu ovog ugovora, ili posledicama njegove ništavnosti) ili bilo kojom van-ugovornom obavezom koja proizilazi iz ili u vezi sa ovim ugovorom.

Strane su saglasne da je Sud pravde Evropske unije najpogodniji i najprikladniji sud za rešavanje Sporova između njih i, u skladu sa tim, neće tvrditi suprotno.

Strane u ovom ugovoru se ovim putem odriču svakog imuniteta ili prava na prigovor nadležnosti Suda pravde Evropske unije. Odluka Suda pravde Evropske unije doneta u skladu sa ovim članom biće konačna i obavezujuća za obe strane bez ograničenja ili uslovljavanja.

Član11.3

Mesto ispunjenja

Osim ako nije posebno data drugačija saglasnost Banke u pisanoj formi, lokacija izvršenja prema ovom ugovoru će biti sedište Banke.

Član11.4

Dokaz o dospelim iznosima

U bilo kom pravnom postupku koji proistekne iz ovog ugovora, potvrda Banke o nekom iznosu ili stopi dospelim na plaćanje Banci po osnovu ovog ugovora, smatra se, ako nema očigledne greške, nesumnjivim (prima facie) dokazom o takvom iznosu ili stopi.

Član11.5

Celovitost Ugovora

Ovaj ugovor predstavlja celokupan ugovor između Banke i Zajmoprimca u odnosu na odredbu Kredita u ovom ugovoru i zamenjuje bilo koji prethodni sporazum, bilo da je izričit ili prećutan, o istom pitanju.

Član11.6

Ništavost

Ako u bilo kom trenutku bilo koja odredba ovog ugovora jeste ili postane nezakonita, ništavna ili neizvršiva u bilo kom pogledu, ili ovaj ugovor jeste ili postane nevažeći u bilo kom pogledu na osnovu zakona bilo koje nadležnosti, takva nezakonitost, ništavnost, neizvršivost ili nevaženje ne utiču na:

zakonitost, valjanost ili izvršivost u toj nadležnosti drugih odredbi ovog ugovora ili validnosti u bilo kom smislu ovog ugovora u toj nadležnosti; ili

zakonitost, valjanost ili izvršivosti u drugim nadležnostima te ili bilo koje druge odredbe ovog ugovora ili validnosti ovog ugovora prema zakonima takvih drugih nadležnosti.

Član11.7

Izmene i dopune

Bilo koja izmena i dopuna ovog ugovora biće sačinjena u pisanoj formi i potpisana od strane ugovornih strana.

Član11.8

Primerci

Ovaj ugovor može da bude potpisan u bilo kom broju primeraka, od kojih će svi zajedno činiti jedan isti dokument. Svaki primerak predstavlja original, ali svi primerci će zajedno činiti jedan isti dokument.

ČLAN 12.Čl. 12.1–12.4

Završne odredbe

Član12.1

Obaveštenja

Član12.1. A

Forma obaveštenja

Sva obaveštenja ili druga saopštenja upućena u skladu sa ovim ugovorom (osim poziva za određivanje cena uživo u vezi sa Tranšom sa aktuelnim cenama) moraju da budu sačinjena u pisanom obliku i, osim ukoliko nije drugačije navedeno, poslata poštom ili putem elektronske pošte.

Obaveštenja i druga saopštenja za koja su ovim ugovorom predviđeni fiksni rokovi ili koja u sebi sadrže fiksne rokove obavezujuće za primaoca, mogu da budu uručena lično, preporučenom poštom ili putem elektronske pošte. Takva obaveštenja i saopštenja se smatraju primljenim od druge Strane:

(i)

na datum isporuke u slučaju lične dostave ili preporučene pošte;

(ii)

u slučaju svake elektronske pošte, samo kada je ista primljena u čitljivom obliku i samo ako je adresovana na način na koji je druga Strana odredila u tu svrhu;

Svako obaveštenje koje Zajmoprimac pošalje Banci putem elektronske pošte treba:

(i)

da sadrži Broj ugovora u polju predviđenom za predmet; i

(ii)

da bude u formatu elektronske slike koja se ne može menjati (pdf, tif ili neki drugi uobičajeni format koji se ne može menjati, a o kojem su se Strane dogovorile) potpisano od strane Ovlašćenog potpisnika sa pravom pojedinačnog zastupanja ili od strane dva ili više ovlašćenih potpisnika sa pravom zajedničkog zastupanja Zajmoprimca, prema potrebi, priložen uz elektronsku poštu.

Obaveštenja koje Zajmoprimac izda u skladu sa bilo kojom odredbom ovog ugovora se, ako to Banka zahteva, dostavljaju Banci zajedno sa zadovoljavajućim dokazima ovlašćenja jednog ili više lica ovlašćenih za potpisivanje takvog obaveštenja u ime Zajmoprimca, kao i sa overenim primerkom potpisa takvog lica ili više takvih lica.

Ne utičući na valjanost obaveštenja koje je dostavljeno putem elektronske pošte ili komunikacije u skladu sa

članom 12.1

, sledeća obaveštenja, saopštenja i dokumenta se takođe šalju preporučenom poštom drugoj ugovornoj strani najkasnije drugog narednog Radnog dana:

(i)

Prihvatanje isplate;

(ii)

bilo koje obaveštenje i saopštenje u vezi sa odlaganjem, otkazivanjem ili obustavljanjem isplate bilo koje Tranše, revizijom ili konverzijom kamate bilo koje Tranše, Slučajem poremećaja na tržištu, Zahtevom za prevremenu otplatu, Obaveštenjem o prevremenoj otplati, Slučajem neispunjavanja obaveze, svakim traženjem prevremene otplate, i

(iii)

bilo koje drugo obaveštenje, saopštenje ili dokument koje Banka zatraži.

Strane su saglasne da bilo koja gore navedena komunikacija (uključujući putem elektronske pošte) jeste prihvaćeni oblik komunikacije, i predstavlja prihvatljiv dokaz na sudu i ima istu dokaznu vrednost kao i sporazum koji je potpisan (sous seing privé).

Član12.1.B

Adrese

Adresa i adresa elektronske pošte (i odeljenja kome je saopštenje namenjeno) svake Strane za svako obaveštenje ili dokument koji se dostavljaju na osnovu ili u vezi sa ovim ugovorom su:

Za Banku Za: EIB Global Directorate, Enlargement & Neighbourhood Department, Western Balkans & Türkiye Division

100 Boulevard Konrad Adenauer

L-2950 Luxembourg

E-mail adresa: contactline-91756@eib.org

Za Zajmoprimca Za: Ministarstvo finansija

Kneza Miloša 20

11000 Beograd

Republika Srbija

E-mail adresa: kabinet@mfin.gov.rs

Kopija: uprava@javnidug.gov.rs

Član12.1.C

Obaveštenje o detaljima komunikacije

Banka i Zajmoprimac bez odlaganja obaveštavaju drugu Stranu u pisanom obliku o bilo kakvoj promeni svojih detalja za komunikaciju.

Član12.2

Engleski jezik

Bilo koje obaveštenje ili saopštenje dato na osnovu ili u vezi sa ovim ugovorom mora da bude na engleskom jeziku.

Sva druga dokumenta dostavljena na osnovu ili u vezi sa ovim ugovorom moraju da budu:

(i)

na engleskom jeziku; ili

(ii)

ako nisu na engleskom jeziku, i ukoliko to Banka zahteva, dostavljeni zajedno sa overenim prevodom na engleski jezik, i u tom slučaju, prevod na engleskom jeziku se smatra merodavnim.

Član12.3

Stupanje na snagu ovog ugovora

Osim ovog

člana 12.3

, i

čl. 11.1

, 11.2, 12.1 i 12.2, koji će postati pravno efektivni i stupiti na snagu na dan potpisivanja ovog ugovora, ovaj ugovor stupa na snagu na dan (u daljem tekstu: „Datum stupanja na snagu”) koji je Banka navela u pismu za Zajmoprimca kojim potvrđuje da je Banka primila dokaz da su pribavljena sva neophodna službena i vladina odobrenja, uključujući potvrđivanje od strane Narodne Skupštine Republike Srbije, i takvo pismo će biti dokaz da je ovaj ugovor stupio na snagu. Ako Datum stupanja na snagu ne nastupi na ili pre datuma koji pada 12 (dvanaest) meseci od datuma ovog ugovora (ili bilo koji kasniji datum o kome Banka pismeno obavesti Zajmoprimca), ovaj ugovor neće stupiti na snagu i nikakve dalje radnje neće biti potrebne.

Član12.4

Uvodne odredbe, Prilozi i Aneksi

Uvodne odredbe i sledeći Prilozi čine sastavni deo ovog ugovora:

Prilog A Tehnički opis

Prilog B Definicija EURIBOR-a

Prilog C Obrazac Ponude/Prihvatanja za isplatu (

čl. 1.2.B

i 1.2.C)

Prilog D Revizija i konverzija kamatne stope

Prilog E Obrasci koje obezbeđuje Zajmoprimac Strane su saglasne da sačine ovaj ugovor u 4 (četiri) originalna primerka na engleskom jeziku.

U Beogradu, dana 23. decembra 2025. godine

Potpisano za i u ime

REPUBLIKE SRBIJE

____________________________

G. Siniša Mali

Prvi potpredsednik Vlade i ministar finansija U Luksemburgu, dana 23. decembra 2025. godine

Potpisano za i u ime

EVROPSKE INVESTICIONE BANKE

___________________ ____________________

K. KANAPINSKAITE Victor Dominiak

ŠEF ODSEKA Pravni savetnik