The Borrower acknowledges that no Finance Party is in any way involved in the calculation of any part of the ECA Insurance Premium.

The Borrower shall not raise against any Lender any claim or defence in relation to the calculation, payment or refund of (or the failure to pay or refund) any part of the ECA Insurance Premium.

The Borrower shall bear the cost of reimbursing to the ECA Agent (for the account of each Lender) the credit insurance premium due to the ECA under the ECA Insurance Policy (including any increase in the amount of the ECA Insurance Premium).

The ECA Insurance Premium percentage is set by the French Authorities at their sole discretion and will be indicated in the ECA Insurance Policy. As at the date of this Agreement, the ECA Insurance Premium has been estimated to be equal to an amount of EUR 95,153,098 with respect to Tranche 1 and an amount of EUR 1,126,664 with respect to Tranche 2 which is calculated on the basis of the percentage of 5.02% with respect to Tranche 1 and 4.33% with respect to Tranche 2 and a projected Consolidated Utilisation Period Amount for Tranche 1 and for Tranche 2 estimated on the basis of the terms of payment of the Commercial Contract.

The Borrower acknowledges that the ECA Insurance Premium relating to a Tranche shall be paid in full prior to the first Utilisation being made during the relevant Utilisation Period relating to such Tranche. Therefore, the Borrower irrevocably and unconditionally agrees to transfer in full from its own funds to the ECA Agent (for further payment to the ECA) an amount equal to the ECA Insurance Premium relating to a Tranche prior to the first Utilisation being made during the relevant Utilisation Period relating to such Tranche.

The Borrower acknowledges and accepts that:

With respect to the ECA Insurance Premium relating to Tranche 2: the ECA Insurance Premium relating to Tranche 2 will be calculated after the end of the Utilisation Period 1 on the basis of the ECA Insurance Premium percentage relating to Tranche 2 set out in the ECA Insurance Policy applied to the Available Commitment as of the end of the Utilisation Period 1. The ECA Insurance Premium relating to Tranche 2 will be notified by the ECA Agent to the Borrower as soon as available after the end of the Utilisation Period 1. Therefore, upon receipt of the ECA Agent's notification referred to in this paragraph (ii), the Borrower irrevocably and unconditionally agrees to transfer in full from its own funds to the ECA Agent (for further payment to the ECA) an amount equal to the ECA Insurance Premium relating to Tranche 2 prior to the first Utilisation being made during the Utilisation Period 2.

The Borrower acknowledges that the ECA Insurance Premium is not refundable for any reason whatsoever, including in case of recalculation of the ECA Insurance Premium relating to Tranche 1 by the ECA as set out in paragraph (f) above.

Notwithstanding the above, a minimum premium, as of the date of this Agreement, in an amount equal to two thousand Euros (EUR 2,000) shall be paid to the ECA by the Borrower in respect of the ECA Insurance Policy upon the execution of such ECA Insurance Policy. Such amounts shall remain the property of the ECA and is accordingly payable by the Borrower to the ECA in any event.