Upon request by the Borrower (which, among others, shall specify the Component(s) to be financed with the proposed disbursement), provided that no event mentioned in

Article 1.6.B

has occurred and is continuing, the Bank shall 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 latest time for receipt by the Bank of such Borrower’s request is 15 (fifteen) Business Days before the Final Availability Date. The Disbursement Offer shall include information as set out in Schedule C.

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.

The above email will include (in copy) relevant Bank’s officers for the Borrower’s information.