Zakon o potvrđivanju Ugovora o kreditnom aranžmanu br. 0020022188 koji se odnosi na neobezbeđeni zajam do iznosa od 260.000.000 evra uz garanciju UKEF u cilju finansiranja određenih građevinskih usluga od strane Bechtel Enka UK Limited, koji posluje u Srbiji preko Bechtel Enka UK Limited Ogranak Beograd za potrebe privrednog društva ,,Koridori Srbije" d.o.o. Beograd u vezi sa izgradnjom infrastrukturnog koridora autoputa E-761 deonice Pojate-Preljina (Moravski koridor) između Republike Srbije, koju zastupa Vlada Republike Srbije, postupajući preko Ministarstva finansija, kao Zajmoprimca i J.P. Morgan SE, kao Agenta i JPMorgan Chase Bank, N.A., London Branch, kao Prvobitnog ovlašćenog vodećeg aranžera i Credit Agricole Corporate and Investment Bank i Ing Bank N.V., kao ovlašćenih vodećih aranžera i Određenih drugih finansijskih institucija, kao Prvobitnih zajmodavaca

Dated 27 October 2025

REPUBLIC OF SERBIA

represented by the Government of the Republic of Serbia

acting by and through the Ministry of Finance

as Borrower

and

J.P. MORGAN SE

as Agent

and

JPMORGAN CHASE BANK, N.A., LONDON BRANCH

as Initial Mandated Lead Arranger

and

CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK and

ING BANK N.V.

as Mandated Lead Arrangers

and

CERTAIN OTHER FINANCIAL INSTITUTIONS

as Original Lenders

FACILITY AGREEMENT NO. 0020022188

Facility relating to a senior unsecured term loan facility of up to EUR

260,000,000 UKEF guaranteed loan advances to finance the provision

of certain construction services by Bechtel Enka UK Limited, operating

in Serbia through Bechtel Enka UK Limited Ogranak Beograd to

Koridori Srbije d.o.o. Beograd in relation to the construction of the

Infrastructure Corridor E-761 highway section Pojate-Preljina

(the Morava Corridor)

CONTENTS

CLAUSE PAGE

SECTION 1

.................................................................................................................... 2 Interpretation .................................................................................................................. 2

1. Definitions and interpretation ......................................................................... 2

2. Effectiveness ................................................................................................ 24

SECTION 2

.................................................................................................................. 25 The Facility ................................................................................................................... 25

3. The Facility ................................................................................................... 25

4. Purpose ........................................................................................................ 26

5. Conditions of utilisation ................................................................................ 26

SECTION 3

.................................................................................................................. 29 Utilisation ..................................................................................................................... 29

6. Utilisation ...................................................................................................... 29

SECTION 4

.................................................................................................................. 31

Repayment, prepayment and cancellation .................................................................. 31

7. Repayment ................................................................................................... 31

8. Prepayment and cancellation....................................................................... 31

SECTION 5

.................................................................................................................. 35 Costs of utilisation ........................................................................................................ 35

9. Interest ......................................................................................................... 35

10. Changes to the calculation of interest ......................................................... 36

11. Fees ............................................................................................................. 37

SECTION 6

.................................................................................................................. 39 Additional payment obligations .................................................................................... 39

12. Tax gross up and indemnities ...................................................................... 39

13. Increased costs ............................................................................................ 43

14. Other indemnities ......................................................................................... 44

15. Mitigation by the Lenders ............................................................................. 45

16. Costs and expenses .................................................................................... 46

SECTION 7

.................................................................................................................. 48 Representations, undertakings and Events of Default ................................................ 48

17. Representations ........................................................................................... 48

18. Information undertakings ............................................................................. 55

19. General undertakings ................................................................................... 57

20. Events of Default .......................................................................................... 67

SECTION 8

.................................................................................................................. 70

Changes to Parties ...................................................................................................... 70

21. Changes to the Lenders ............................................................................... 70

22. Changes to the Borrower ............................................................................. 75

SECTION 9

.................................................................................................................. 76

The Finance Parties ..................................................................................................... 76

23. Role of the Agent and the Arrangers............................................................ 76

24. Conduct of business by the Finance Parties ............................................... 85

25. Sharing among the Finance Parties ............................................................ 85

SECTION 10

................................................................................................................ 87

Administration .............................................................................................................. 87

26. Payment mechanics ..................................................................................... 87

27. Set-off ........................................................................................................... 90

28. Notices ......................................................................................................... 90

29. Calculations and certificates ........................................................................ 92

30. Partial invalidity ............................................................................................ 92

31. Remedies and waivers ................................................................................. 93

32. Amendments and waivers ............................................................................ 93

33. Confidential Information ............................................................................... 94

34. Confidentiality of funding rates .................................................................... 99

35. Counterparts............................................................................................... 101

36. Governing Language ................................................................................. 101

37. Contractual recognition of bail-in ............................................................... 101

SECTION 11

.............................................................................................................. 104

Governing law and enforcement ................................................................................ 104

38. Governing law ............................................................................................ 104

39. Arbitration ................................................................................................... 104

40. Jurisdiction ................................................................................................. 105

41. Service of process ..................................................................................... 106

THE SCHEDULES

SCHEDULE ........................................................................................................... PAGE

Schedule 1 The Original Parties ................................................................................ 108 The Original Lender ........................................................................................... 108

Schedule 2 Conditions Precedent to Initial Utilisation ............................................... 109

Schedule 3 Utilisation Requests ................................................................................ 113 PART A Form of Reimbursement Request ....................................................... 113

PART B Form of Payment Request ................................................................... 118

Schedule 4 Form of Transfer Certificate .................................................................... 125

Schedule 5 Form of Assignment Agreement ............................................................. 127

Schedule 6 Timetables ............................................................................................... 130 Schedule 7 Daily Non-Cumulative Compounded RFR Rate ..................................... 131

EXECUTION

EXECUTION .......................................................................................................... PAGE

Signatories ............................................................................................................. 1 THIS AGREEMENT is dated 27 October 2025 and made between:

(1) REPUBLIC OF SERBIA, represented by the Government of the Republic

of Serbia, acting by and through the Ministry of Finance, as borrower (the

"Borrower");

(2) J.P. MORGAN SE, registered with the Commercial Register B of the local

court of Frankfurt am Main under registration number HRB 16861 whose

registered office is at Taunustor 1 (TaunusTurm), 60310 Frankfurt am Main,

Germany as agent of the other Finance Parties (the "Agent");

(3) JPMORGAN CHASE BANK, N.A., LONDON BRANCH as initial mandated

lead arranger (the "Initial Mandated Lead Arranger");

(4) CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK and ING

BANK N.V. as mandated lead arrangers (together, the "Mandated Lead

Arrangers" and each individually a "Mandated Lead Arranger"); and

(5) THE FINANCIAL INSTITUTIONS as listed in Schedule 1 (The Original

Parties) as lender (the "Original Lender").

Whereas:

(A) On 8 July 2019, the Republic of Serbia enacted the Law on Determining

Public Interest and Special Procedures for Implementation of the Project for

Construction of Infrastructure Corridor E-761 Highway Section Pojate-

Preljina (Zakon o utvrđivanju javnog interesa i posebnim postupcima radi

realizacije projekta izgradnje infrastrukturnog koridora auto-puta E-761,

deonica Pojate-Preljina, Official Gazette of the Republic of Serbia, no.

49/2019) ( the "Morava Corridor Law").

(B) On 29 August 2019, the Government of the Republic of Serbia selected the

Bechtel-Enka consortium as its strategic partner for the Project in

accordance with the Decree on the Criteria and Manner of Selecting a

Strategic Partner and Professional Supervision of the Execution of Works

for the Implementation of the Project for the Construction of the

Infrastructural Corridor of the E-761 Highway, Pojate-Preljina Section

(Uredba o kriterijumima i načinu izbora strateškog partnera i stručnog

nadzora nad izvođenjem radova na realizaciji projekta izgradnje

infrastrukturnog koridora auto-puta E-761, deonica Pojate-Preljina

("Moravski koridor"), Official Gazette of the Republic of Serbia, no.

55/2019).

Enka UK Limited, a private limited company incorporated in England with

registered number 09623025 whose registered office is at 11 Pilgrim Street,

London, United Kingdom, EC4V 6RN, operating in Serbia through Bechtel

Enka UK Limited Ogranak Beograd, registered branch office Resavska 23, Belgrade, Serbia, with corporate identification number 29510300 and tax

identification number 111763679 (the "Exporter"), have entered into a

contract agreement dated 5 December 2019 (the "Export Contract") for

the construction of the E761 motorway Pojate-Preljina Project (the "Morava

Corridor").

(D) The Borrower and JPMorgan Chase Bank, N.A., London Branch as original

lender entered, amongst others, into a UKEF-supported facility agreement

no. 0020008959 dated 11 June 2021 pursuant to which a senior unsecured

term loan facility has been made available to finance the provision of

certain construction services under the Export Contract (the "UKEF-

Supported Facility Agreement 2021"). The Lenders have agreed, on the

terms and conditions of this Agreement, to further advance to the Borrower

the sum of up to EUR 260,000,000 to assist the financing of the Export

Contract.

(E) His Britannic Majesty's Secretary of State acting through the Export Credits

Guarantee Department (operating as UK Export Finance) ("UK Export

Finance") has agreed to give a guarantee to the Lenders relating to certain

obligations of the Borrower under this Agreement.

OPERATIVE PROVISIONS

It is agreed as follows:

SECTION 1

INTERPRETATION

1.Čl. 1.1–1.4

DEFINITIONS AND INTERPRETATION

Clause1.1

Definitions

In this Agreement:

"Accepted Contract Amount" has the meaning given to the term

"Accepted Contract Amount" in the Export Contract as at the date of this

Agreement;

"Affiliate" means, in relation to any person, a Subsidiary of that person or a

Holding Company of that person or any other Subsidiary of that Holding

Company;

"Anti-Corruption Laws" means:

the Bribery Act 2010;

the Foreign Corrupt Practices Act 1977; and

any applicable similar laws or regulations in any jurisdiction relating

to bribery, corruption or any similar practices;

"Applicable Law" means:

any law, statute, decree, constitution, regulation, rule, by-law, order,

authorisation, judgment, injunction or other directive of any

Government Entity or otherwise which is applicable in the Relevant

Jurisdiction;

any treaty, pact or other binding agreement to which any

Government Entity is a signatory or party; or

any judicial or administrative interpretation with binding

characteristics or application of those described in paragraph (a) or

above,

and in each case, which is applicable to the Borrower, the Borrower's

assets or the Transaction Documents;

"Arrangers" means the Initial Mandated Lead Arranger and/or the

Mandated Lead Arrangers;

"Assignment Agreement" means an agreement substantially in the form

set out in Schedule 5 (Form of Assignment Agreement) or any other form

agreed between the relevant assignor and assignee in form and substance

satisfactory to the Agent;

"Authorisation" means an authorisation, consent, permit, approval,

resolution, licence, exemption, filing, notarisation or registration;

"Availability Period" means the period from and including the Effective

Date to and including the earlier of:

the date falling twenty-four (24) months after the Effective Date (or

such later date as may be agreed by the Agent, acting on the

instructions of all of the Lenders and UK Export Finance); and

the date on which the Facility has been fully utilised or cancelled;

"Available Commitment" means a Lender's Commitment minus:

the amount of its participation in any outstanding Loans;

in relation to any proposed Utilisation, the amount of its participation

in any Loans that are due to be made on or before the proposed

Utilisation Date; and

the amount of any repayments received to date, without double

counting;

"Available Facility" means the aggregate for the time being of each

Lender's Available Commitment;

"Blocking Law" has the meaning given this term in

Clause 17.17(c)

;

"Borrower's Signatory" means the person(s) authorised to sign on behalf

of the Borrower regarding whom evidence has been provided to the Agent

in respect of the Borrower in accordance with paragraph 1(b) of Schedule 2

(Conditions Precedent to Initial Utilisation);

"Break Costs" means the amount (if any) by which:

the interest, excluding the Margin, which a Lender should have

received for the period from the date of receipt of all or any part of its

participation in a Loan or Unpaid Sum to the last day of the current

Interest Period in respect of that Loan or Unpaid Sum, had the

principal amount or Unpaid Sum received been paid on the last day

of that Interest Period;

exceeds:

the amount which that Lender would be able to obtain by placing an

amount equal to the principal amount or Unpaid Sum received by it

on deposit with a leading bank for a period starting on the Business

Day following receipt or recovery and ending on the last day of the

current Interest Period;

"Business Day" means:

a day (other than a Saturday or Sunday) on which banks are open

for general interbank business (other than operation only of

payments, purchases and rate fixing in euros) in:

London, Amsterdam, Paris, Frankfurt and Belgrade; and

ii)

in relation to a payment, purchase or rate fixing in or other

matter relating to a currency (other than euros), the principal

financial centre of the country of that currency; and

in relation to a payment or rate fixing in euros, a day on which the

Trans-European Automated Real-time Gross Settlement Express

Transfer payment system (TARGET) is operating.

"Buyer" has the meaning given in Recital (C); "Buyer's Signatory" means the person(s) authorised to sign on behalf of

the Buyer regarding whom evidence has been provided by the Borrower to

the Agent further to paragraph 2(c) (Buyer's Authorisations) of Schedule 2

(Conditions Precedent to Initial Utilisation), or, subject to the prior written

approval of the Agent, such other person whose name and specimens of

whose signature have been supplied to the Agent and certified by a senior

official of the Buyer in a form acceptable to the Agent;

"Code" means the US Internal Revenue Code of 1986;

"Commitment" means:

in relation to an Original Lender, the amount set opposite its name

under the heading "Commitment" in Schedule 1 (The Original

Parties) and the amount of any other Commitment transferred to it

under this Agreement; and

in relation to any other Lender, the amount of any Commitment

transferred to it under this Agreement,

to the extent not cancelled, reduced or transferred by it under this

Agreement;

"Compounded Rate Loan" means any Loan or, if applicable, Unpaid Sum,

which is not a Term Rate Loan.

"Compounded Reference Rate" means, in relation to any RFR Banking

Day during the Interest Period of a Compounded Rate Loan, the

percentage rate per annum which is the aggregate of:

the Daily Non-Cumulative Compounded RFR Rate for that RFR

Banking Day; and

the applicable Fallback CAS;

"Compounding Methodology Supplement" means, in relation to the

Daily Non-Cumulative Compounded RFR Rate, a document which:

is agreed in writing by the Borrower, the Agent (in its own capacity)

and the Agent (acting on the instructions of the Lenders and UK

Export Finance);

specifies a calculation methodology for that rate; and

has been made available to the Borrower and each Finance Party;

"Contract Price" has the meaning given to the term "Contract Price" in the

Export Contract as at the date of this Agreement; "Confidential Information" means all information relating to the Borrower,

the Finance Documents or the Facility of which a Finance Party becomes

aware in its capacity as, or for the purpose of becoming, a Finance Party or

which is received by a Finance Party in relation to, or for the purpose of

becoming a Finance Party under, the Finance Documents or the Facility

from either:

the Borrower or any of its advisers; or

another Finance Party, if the information was obtained by that

Finance Party directly or indirectly from the Borrower or any of its

advisers,

in whatever form, and includes information given orally and any document,

electronic file or any other way of representing or recording information

which contains or is derived or copied from such information but excludes:

(A) information that:

is or becomes public information other than as a direct or

indirect result of any breach by that Finance Party of Clause

33 (Confidential Information); or

ii)

is identified in writing at the time of delivery as non-

confidential by the Borrower, its government agencies or any

of its advisers; or

iii)

is known by that Finance Party before the date the

information is disclosed to it in accordance with paragraph (i)

or (ii) above or is lawfully obtained by that Finance Party after

that date, from a source which is, as far as that Finance Party

is aware, unconnected with the Borrower, its government

agencies and which, in either case, as far as that Finance

Party is aware, has not been obtained in breach of, and is not

otherwise subject to, any obligation of confidentiality; and

(B) any Funding Rate;

"Confidentiality Undertaking" means a confidentiality undertaking

substantially in the form published by the LMA for the secondary trading of

loans or in any other form agreed between the Borrower and the Agent;

"Construction Phase" means the period from the commencement of

design, development, pre-construction, construction and commissioning of

the Project until the commencement of the Operations Phase;

"Construction Phase E&S Management Plan" means the document(s)

comprising the environmental and social management procedures for the

Construction Phase as delivered prior to the date of this Agreement and as

amended from time to time with the consent of UK Export Finance and shall

include any document provided to UK Export Finance pursuant to

paragraphs 7(e) to 7(g) of Schedule 2 (Conditions Precedent to Initial

Utilisation);

"Corrective Action Plan" means a plan produced by the Borrower

pursuant to paragraph (d) (E&S Trigger Events) of

(Environmental undertakings) specifying in detail the corrective action

(including the timings and responsibility for such action(s)) being taken or

proposed to be taken in order to, remedy or mitigate all damage and

adverse consequences caused by an E&S Trigger Event, as may be

amended or updated from time to time with the consent of UK Export

Finance;

"CP Satisfaction Notice" has the meaning given in paragraph (a)(iv) of

Clause 5.1

(Initial conditions precedent);

"Daily Non-Cumulative Compounded RFR Rate" means, in relation to

any RFR Banking Day during an Interest Period for a Compounded Rate

Loan, the percentage rate per annum determined by the Agent (or by any

other Finance Party which agrees to determine that rate in place of the

Agent) in accordance with the methodology set out in Schedule 7 (Daily

Non-Cumulative Compounded RFR Rate) or in any relevant Compounding

Methodology Supplement;

"Daily Rate" means the daily rate for any RFR Banking Day which is the

RFR for that RFR Banking Day rounded to four (4) decimal places and if

the aggregate of that rate and the Fallback CAS is less than zero, the Daily

Rate shall be deemed to be such a rate that the aggregate of the Daily Rate

and that Fallback CAS is zero;

"Default" means an Event of Default or any event or circumstance specified

Clause 20

(Events of Default) which would (with the expiry of a grace

period, the giving of notice, the making of any determination under the

Finance Documents or any combination of any of the foregoing) be an

Event of Default;

"Default Interest Rate" means the rate of interest payable by the Borrower

in accordance with paragraph (a) of

(Default interest); "Disruption Event" means either or both of:

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 the

Facility (or otherwise in order for the transactions contemplated by

the Finance Documents to be carried out) which disruption is not

caused by, and is beyond the control of, any of the Parties; or

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 a Party preventing that, or any other Party:

from performing its payment obligations under the Finance

Documents, or

ii)

from communicating with other Parties in accordance with the

terms of the Finance Documents,

and which (in either such case) is not caused by, and is beyond the

control of, the Party whose operations are disrupted;

"Effective Date" means the date notified by the Agent to the Borrower as

the "Effective Date", being the date upon which all of the conditions

precedent listed in paragraph (a) of

Clause 2.1

(Effective Date) have been

met to the satisfaction of the Agent (acting on the instructions of all Lenders

and UK Export Finance);

"Eligible Goods and Eligible Services" means in relation to the Export

Contract Value:

Foreign Content in an amount not exceeding 85% of the Export

Contract Value; and

Local Goods and Services in an aggregate amount not exceeding

50% of the value of Foreign Content of the Export Contract Value;

"Environment" means the Natural Environment and the Social

Environment;

"Environmental and Social Action Plan" or "ESAP" means the action

plan confirmed by UK Export Finance referred to in the UKEF-Supported

Facility Agreement 2021, as amended from time to time by or with the

consent of UK Export Finance;

"Environmental Contaminant" means any substance (whether a solid,

liquid, gas or vapour and whether or not combined with any one or more other substances), activity or other phenomenon that is capable of causing

significant harm to humans or any other living organisms supported by the

Environment or significantly damaging the Environment or public health or

welfare;

"Environmental Information Regulations" mean the Environmental

Information Regulations 2004 together with any guidance and/or codes of

practice issued by the Information Commissioner or relevant government

department in the UK in relation to such regulations;

"Erroneous Payment" has the meaning given to it in paragraph (d) of

Clause 23.19

(Amounts paid in error);

"EURIBOR" means, in relation to any Loan:

the applicable Screen Rate as of the Specified Time for euro and for

a period equal in length to the Interest Period of that Loan; or

as otherwise determined pursuant to

Clause 10.1

(Unavailability of

Screen Rate),

and if, in either case, that rate is less than zero, EURIBOR shall be deemed

to be zero;

"Event of Default" means any event or circumstance specified as such in

Clause 20

(Events of Default);

"Excluded Assets" has the meaning given to it in

Clause 17.20

(No

immunity);

"Export Contract" has the meaning given in Recitals (C) and (D);

"Export Contract Value" means EUR 337,113,525.56, being a part of the

total value of the Export Contract, that is financed under this Agreement as

described in the Recitals;

"Exporter" has the meaning given in Recital (C);

"Exporter Payment Request" means the document defined as the

"Exporter Payment Request" in a Payment Request;

"Exporter Receipt" means the document defined as the "Exporter Receipt"

in a Reimbursement Request;

"Exporter's Signatory" means the person(s) authorised to sign on behalf

of the Exporter regarding whom evidence has been provided to the Agent in

respect of the Exporter further to paragraph 4(c)(i) (Export Contract and

Exporter Related Authorisations) of Schedule 2 (Conditions Precedent to Initial Utilisation), or, subject to the prior written approval of the Agent, such

other person whose name and specimens of whose signature have been

supplied to the Agent and certified by a director or officer of the Exporter in

a form acceptable to the Agent;

"External Financial Indebtedness" means:

all Financial Indebtedness expressed or denominated or payable or

which, at the option of the relevant creditor may be payable, in any

currency other than the lawful currency of the Relevant Jurisdiction

from time to time; and

all Financial Indebtedness which is or may become payable to a

person which is resident outside the Relevant Jurisdiction or has its

registered office or principal place of business outside the Relevant

Jurisdiction;

"E&S Actions" means the actions identified:

in the ESAP;

in any E&S Self-Monitoring Report; and

by UK Export Finance or its nominated representative or the IESC(s)

following a site visit pursuant to paragraph (e) (Site visits) of Clause

19.6 (Environmental undertakings),

to be undertaken by or on behalf of the Borrower and/or the Buyer in order

to ensure all the E&S Obligations are fulfilled, in each case as updated or

amended with the prior consent of UK Export Finance;

"E&S Claim" means any pending or existing claim, dispute, arbitration,

administrative or legal proceedings relating to the E&S Requirements in

respect of the Project, or the assets, business and operations of the

Borrower and/or Buyer relating to the Project;

"E&S Incident" means:

any incident or accident relating to the Project which directly or

indirectly, has, or could reasonably be expected to have an adverse

impact on the Environment (including the release of any

Environmental Contaminant in sufficient quantity or concentration to

have an adverse impact);

an accident resulting in death or serious or multiple injury; or

a significant community or worker related grievance or protest

directed at the Project; "E&S Investigation" means any investigation by any governmental, state

or other public person arising out of or in relation to the Project or the

assets, business and operations of the Borrower and/or the Buyer relating

to the Project with respect to the E&S Requirements;

"E&S Law" means any legislation, rule, decree, judgment, regulation,

directive, by-law, order or any other executive or legislative measure or act

having the force of law at the relevant time, including any Authorisations

required by any of the above, which directly or indirectly relates to the

protection of or the prevention of harm or damage to the Environment in

respect of (i) the Project or (ii) the assets, business and operations of the

Borrower and/or the Buyer relating to the Project;

"E&S Management Plans" means, together, the Construction Phase E&S

Management Plan and the Operations Phase E&S Management Plan, and

"E&S Management Plan" means either of them;

"E&S Obligations" means the obligations of any person (including the

Borrower and/or the Buyer) to:

comply with any applicable E&S Law;

align with the E&S Standards;

undertake the E&S Actions;

comply with the requirements of the E&S Management Plans; or

comply with the requirements of any Corrective Action Plan,

in each case in relation to the Project.

"E&S Obligations Breach" means a breach of any E&S Obligation

(including by the Borrower and/or the Buyer) other than any such breach

that has been disclosed to the Agent and where such breach has resulted

in corrective action under the ESAP, any Corrective Action Plan, or other

corrective action otherwise agreed with the Agent;

"E&S Requirements" means, together, E&S Law and E&S Standards;

"E&S Self-Monitoring Reports" means the reports required pursuant to

paragraph (a) (E&S Self-Monitoring Reports) of

(Environmental

undertakings): "E&S Standards" means the policies, guidance and standards set out, or

referred to, in:

the following performance standards on social and environmental

sustainability published by the International Financial Corporation

(IFC) on 1 January 2012:

Performance Standard 1: Assessment and Management of

Environmental and Social Risks and Impacts;

ii)

Performance Standard 2: Labour and Working Conditions;

iii)

Performance Standard 3: Resource Efficiency and Pollution

Prevention;

iv)

Performance Standard 4: Community health, Safety and

Security;

Performance Standard 5: Land Acquisition and Involuntary

Resettlement;

vi)

Performance Standard 6: Biodiversity, Conservation and

Sustainable Management of Living Natural Resources;

vii)

Performance Standard 7: Indigenous People;

viii)

Performance Standard 8: Cultural Heritage;

World Bank Group Environmental, Health and Safety (EHS) General

Guidelines (2007);

IFC / World Bank Group EHS Guidelines for Toll Roads (2007);

World Bank Group EHS Guidelines for Construction Materials and

Extraction (2007);

IFC / European Bank for Reconstruction and Development (EBRD)

Guidance note on Workers' Accommodation: Processes and

Standards (2009); and

Equator Principles 4 (2020);

"E&S Trigger Event" means:

an E&S Incident; and/or

an E&S Obligations Breach.

"Facility" means the term loan facility made available under this Agreement

as described in

Clause 3

(The Facility);

"Facility Currency" means EUR; "Facility Office" means the office or offices notified by a Lender to the

Agent in writing on or before the date it becomes a Lender (or, following

that date, by not less than five (5) Business Days' written notice) as the

office or offices through which it will perform its obligations under this

Agreement;

"Fallback CAS" means 0.0%;

"FATCA" means:

sections 1471 to 1474 of the Code or any associated regulations;

any treaty, law or regulation of any other jurisdiction, or relating to an

intergovernmental agreement between the US and any other

jurisdiction, which (in either case) facilitates the implementation of

any law or regulation referred to in paragraph (a) above; or

any agreement pursuant to the implementation of any treaty, law or

regulation referred to in paragraph (a) or (b) above with the US

Internal Revenue Service, the US government or any governmental

or taxation authority in any other jurisdiction;

"FATCA Application Date" means:

in relation to a "withholdable payment" described in section

1473(1)(A)(i) of the Code (which relates to payments of interest and

certain other payments from sources within the US), 1 July 2014; or

in relation to a "passthru payment" described in section 1471(d)(7)

of the Code not falling within paragraph (a) above, the first date from

which such payment may become subject to a deduction or

withholding required by FATCA.

"FATCA Deduction" means a deduction or withholding from a payment

under a Finance Document required by FATCA;

"FATCA Exempt Party" means a Party that is entitled to receive payments

free from any FATCA Deduction;

"Fee Letter" means any letter or letters dated on or about the date of this

Agreement between any Arranger and the Borrower (or the Agent and the

Borrower) setting out any of the fees referred to in

Clause 11

(Fees);

"Finance Document" means:

this Agreement;

any Utilisation Request;

any Fee Letter;

any Compounding Methodology Supplement; and

any other document designated as such by the Agent and the

Borrower;

"Finance Party" means the Agent, any Arranger or a Lender;

"Financial Indebtedness" means any indebtedness for or in respect of:

moneys borrowed;

any acceptance under any acceptance credit facility or

dematerialised equivalent;

any note purchase facility or the issue of bonds, notes, debentures,

loan stock or any similar instrument;

the amount of any liability in respect of any lease or hire purchase

contract which would be treated as a balance sheet liability;

receivables sold or discounted (other than any receivables to the

extent they are sold on a non-recourse basis);

any amount raised under any other transaction (including any

forward sale or purchase agreement) of a type not referred to in any

other paragraph of this definition having the commercial effect of a

borrowing;

any derivative transaction entered into in connection with protection

against or benefit from fluctuation in any rate or price (and, when

calculating the value of any derivative transaction, only the marked

to market value (or, if any actual amount is due as a result of the

termination or close out of that derivative transaction, that amount)

shall be taken into account);

any counter-indemnity obligation in respect of a guarantee,

indemnity, bond, standby or documentary letter of credit or any other

instrument issued by a bank or financial institution; or

the amount of any liability in respect of any guarantee or indemnity

for any of the items referred to in paragraphs (a) to (h) above;

"First Repayment Date" means 31 October 2027;

"FOIA" means the Freedom of Information Act 2000 and any subordinate

legislation made under such Act from time to time together with any guidance and/or codes of practice issued by the Information Commissioner

or relevant government department in the UK in relation to such legislation;

"Foreign Content" means any goods and services originating from the UK

(or any other country, other than the Republic of Serbia) supplied or to be

supplied by the Exporter to the Buyer under the Export Contract, in each

case as may be considered eligible for support by UK Export Finance under

the Facility;

"Funding Rate" means any individual rate notified by a Lender to the Agent

pursuant to paragraph (a)(ii) of

(Cost of funds);

"Government Entity" means:

any national government or political subdivision of a national

government;

any banking or monetary authority of a national government or of a

political subdivision of a national government;

any local jurisdiction of a national government or of a political

subdivision of a national government;

the European Central Bank or the Council of Ministers of the

European Union;

any instrumentality, commission, board commission, authority,

department, division, organ, court or agency of any of the foregoing,

however constituted; or

any association, organisation or institution of which any of the

entities listed in the preceding paragraphs is a member (including,

without limitation, any supranational body) or to whose jurisdiction

any of them is subject or in whose activities any of them is a

participant;

"Holding Company" means, in relation to a person, any other person in

respect of which it is a Subsidiary;

"IBRD" means the International Bank for Reconstruction and Development;

"IESC(s)" means:

a person acceptable to UK Export Finance appointed as the

independent environmental and social consultant pursuant to the

IESC Contract provided in limb (a) of the definition of IESC

Contract(s), and

if the TA Contract is required by UK Export Finance, a person

acceptable to UK Export Finance appointed as the independent

technical adviser pursuant to the TA Contract;

"IESC Contract(s)" means:

the contract or engagement letter for the environmental and social

monitoring, and technical advisory services of the Project, entered

into or, as the context may require, to be entered into between the

Agent and the IESC provided in limb (a) of the definition of IESC(s)

and,

if the scope of the IESC Contract set out in limb (a) above does not

cover the technical advisory services required by UK Export

Finance, the TA Contract;

"IFRS" means international accounting standards within the meaning of the

IAS Regulation 1606/2002 to the extent applicable;

"IMF" means the International Monetary Fund;

"Impaired Agent" means the Agent at any time when:

it has failed to make (or has notified a Party that it will not make) a

payment required to be made by it under the Finance Documents by

the due date for payment;

the Agent otherwise rescinds or repudiates a Finance Document;

an Insolvency Event has occurred and is continuing with respect to

the Agent;

unless, in the case of paragraph (a) above:

its failure to pay is caused by:

(A) administrative or technical error; or

(B) a Disruption Event; and

ii)

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

iii)

the Agent is disputing in good faith whether it is contractually

obliged to make the payment in question;

"Increased Costs" has the meaning given in paragraph (b) of

(Increased costs); "Information" has the meaning given under section 84 of the Freedom of

Information Act 2000;

"Information Legislation" means the FOIA, the Environmental Information

Regulations and any other legislation from time to time governing the

disclosure of information held by public bodies in the UK;

"Insolvency Event" in relation to an entity means that the entity:

is dissolved (other than pursuant to a consolidation, amalgamation

or merger);

becomes insolvent or is unable to pay its debts or fails or admits in

writing its inability generally to pay its debts as they become due;

makes a general assignment, arrangement or composition with or

for the benefit of its creditors;

institutes or has instituted against it, by a regulator, supervisor or

any similar official with primary insolvency, rehabilitative or

regulatory jurisdiction over it in the jurisdiction of its incorporation or

organisation or the jurisdiction of its head or home office, a

proceeding seeking a judgment of insolvency or bankruptcy or any

other relief under any bankruptcy or insolvency law or other similar

law affecting creditors' rights, or a petition is presented for its

winding-up or liquidation by it or such regulator, supervisor or similar

official;

has instituted against it a proceeding seeking a judgment of

insolvency or bankruptcy or any other relief under any bankruptcy or

insolvency law or other similar law affecting creditors' rights, or a

petition is presented for its winding-up or liquidation, and, in the case

of any such proceeding or petition instituted or presented against it,

such proceeding or petition is instituted or presented by a person or

entity not described in paragraph (d) above and:

results in a judgment of insolvency or bankruptcy or the entry

of an order for relief or the making of an order for its winding-

up or liquidation; or

ii)

is not dismissed, discharged, stayed or restrained in each

case within thirty (30) days of the institution or presentation

thereof;

has a resolution passed for its winding-up, official management or

liquidation (other than pursuant to a consolidation, amalgamation or

merger);

seeks or becomes subject to the appointment of an administrator,

provisional liquidator, conservator, receiver, trustee, custodian or

other similar official for it or for all or substantially all its assets;

has a secured party take possession of all or substantially all its

assets or has a distress, execution, attachment, sequestration or

other legal process levied, enforced or sued on or against all or

substantially all its assets and such secured party maintains

possession, or any such process is not dismissed, discharged,

stayed or restrained, in each case within 30 days thereafter;

causes or is subject to any event with respect to it which, under the

applicable law of any jurisdiction, has an analogous effect to any of

the events specified in paragraphs (a) to (h) above; or

takes any action in furtherance of, or indicating its consent to,

approval of, or acquiescence in, any of the foregoing acts.

"Interest Payment Date" means the last day of an Interest Period;

"Interest Period" means, in relation to a Loan, each period determined in

accordance with

Clause 9.6

(Interest Periods) and, in relation to an Unpaid

Sum, each period determined in accordance with

(Default

interest);

"Interpolated Screen Rate" means, in relation to any Loan, the rate

(rounded to the same number of decimal places as the two relevant Screen

Rates) which results from interpolating on a linear basis between:

the applicable Screen Rate for the longest period for which that

Screen Rate is available which is less than the Interest Period of

that Loan; and

the applicable Screen Rate for the shortest period (for which that

Screen Rate is available) which exceeds the Interest Period of that

Loan,

each as of the Specified Time for the Facility Currency;

"Lender" means:

any Original Lender; and

any bank, financial institution, trust, fund or other entity which has

become a Party in accordance with

(Changes to the

Lenders),

which in each case has not ceased to be a Party in accordance with the

terms of this Agreement;

"LMA" means the Loan Market Association;

"Loan" means a loan made or to be made under the Facility or the principal

amount outstanding for the time being of that loan;

"Local Goods and Services" means any goods and services originating

from the Republic of Serbia or persons ordinarily resident in the Republic of

Serbia supplied or to be supplied by the Exporter to the Buyer under the

Export Contract, in each case as may be considered eligible for support by

UK Export Finance under the Facility;

"Lookback Period" means five (5) RFR Banking Days;

"Majority Lenders" means a Lender or Lenders whose Commitments

aggregate more than 66 2/3% of the Total Commitments (or, if the Total

Commitments have been reduced to zero, aggregated more than 66 2/3%

of the Total Commitments immediately prior to the reduction);

"Margin" means zero point six per cent. (0.60%) per annum;

"Material Adverse Effect" means a material adverse effect on:

the economic condition of the Borrower or the Buyer;

the ability of the Borrower or the Buyer to perform any of its

obligations under the Transaction Documents; or

the validity or enforceability of the Transaction Documents or the

rights and remedies of any Finance Party under any of the Finance

Documents;

"Material Export Contract Change" means any:

assignment, novation or other disposal of any rights and/or

obligations under the Export Contract; or

amendment, acquiescence, departure from or waiver of the terms of

the Export Contract which:

on its own, or when aggregated with any previous

amendments, acquiescence, departures from or waivers,

increases or decreases the amount payable by the Borrower and/or the Buyer under the Export Contract (in aggregate) by

more than ten per cent. (10%); or

ii)

involves a material change in nature of the supply made

under the Export Contract;

"Morava Corridor" has the meaning given in Recital (C);

"Morava Corridor Law" has the meaning given in Recital (A);

"Natural Environment" means elements of the natural environment

including all, or any, of the following:

the air (including the air within buildings and the air within other

natural or man-made structures above or below ground);

water (including territorial, coastal and inland waters, ground and

surface water, and water in drains and sewers);

land (including reclaimed land, surface and sub-surface soil);

living organisms including human life, animals and plants; and

natural habitats (including land which has been altered by humans

to form natural habitats);

"NBS" means the National Bank of Serbia (Narodna banka Srbije);

"New Lender" has the meaning given to that term in

Clause 21.1

(Assignments and transfers by the Lenders);

"OFAC" means the Department of the Treasury's Office of Foreign Assets

Control of the United States of America;

"Operations Phase" means the period commencing on the date of

issuance of the final Taking-Over Certificate, as set out in the Export

Contract, until the Facility is repaid in full and all the obligations of the

Borrower under the Finance Documents have been paid or discharged in

full;

"Operations Phase E&S Management Plan" means the environmental

plan in respect of the Operations Phase produced in accordance with the

provisions of the UKEF-Supported Facility Agreement 2021;

"Participating Member State" means any member state of the European

Union that has the euro as its lawful currency in accordance with legislation

of the European Union relating to Economic and Monetary Union;

"Party" means a party to this Agreement; "Payment Request" means the appendix to the Utilisation Request,

substantially in the form set out in Part B (Form of Payment Request) of

Schedule 3 (Utilisation Requests);

"Project" means the construction of the Infrastructure Corridor E-761

highway section Pojate-Krusevac-Adrani-Preljina (the Morava Corridor);

"Protected Party" has the meaning given in paragraph (a) of

(Tax definitions);

"Public Assets" means the whole or any part of present or future

undertaking, assets, revenues and international monetary reserves

(including gold, special drawing rights and foreign currency) held by the

Borrower or its agencies, including the NBS and its successor(s);

"Quasi-Security" has the meaning given in

Clause 19.4

(Negative pledge);

"Quotation Day" means, in relation to any period for which an interest rate

is to be determined, two (2) TARGET Days before the first day of that

period unless market practice differs in the Relevant Market, in which case

the Quotation Day will be determined by the Agent in accordance with

market practice in the Relevant Market (and if quotations would normally be

given on more than one day, the Quotation Day will be the last of those

days);

"Recipient" has the meaning given in paragraph (b) of

(VAT);

"Reimbursement Request" means a notice substantially in the form set

out in Part A (Form of Reimbursement Request) of Schedule 3 (Utilisation

Requests);

"Related Funds" in relation to a fund (the "first fund"), means a fund which

is managed or advised by the same investment manager or investment

adviser as the first fund or, if it is managed by a different investment

manager or investment adviser, a fund whose investment manager or

investment adviser is an Affiliate of the investment manager or investment

adviser of the first fund;

"Relevant Jurisdiction" means the Republic of Serbia;

"Relevant Market" means the European interbank market;

"Relevant Nominating Body" means any applicable central bank,

regulator or other supervisory authority or a group of them, or any working

group or committee sponsored or chaired by, or constituted at the request

of, any of them or the Financial Stability Board. "Relevant Party" has the meaning given in paragraph (b) of

(VAT);

"Repayment Date" means

the First Repayment Date; and

each date falling at six (6) monthly intervals after the First

Repayment Date;

"Repeating Representations" means each of the representations set out

in and

Clauses 17.16

(Anti-corruption law) to 17.26 (No additional export credit financing);

"Replacement Benchmark" means a benchmark rate which is:

formally designated, nominated or recommended as the

replacement for a Screen Rate by:

the administrator of that Screen Rate (provided that the

market or economic reality that such benchmark rate

measures is the same as that measured by that Screen

Rate); or

ii)

any Relevant Nominating Body,

and if replacements have, at the relevant time, been formally

designated, nominated or recommended under both paragraphs, the

"Replacement Benchmark" will be the replacement under

paragraph (ii) above;

in the opinion of the Majority Lenders, the Borrower and UK Export

Finance, generally accepted in the international or any relevant

domestic syndicated loan markets as the appropriate successor to a

Screen Rate; or

in the opinion of the Majority Lenders, the Borrower and UK Export

Finance, an appropriate successor to a Screen Rate.

"Representative" means any delegate, agent, manager, administrator,

nominee, attorney, trustee or custodian;

"Required Documents" means:

in the case of a Reimbursement Request the documents described

in paragraph 11 of Part A (Form of Reimbursement Request) of

Schedule 3 (Utilisation Requests); and

in the case of a Payment Request, the documents to be appended

to the Exporter Payment Request in accordance with paragraph 8 of

the form of Exporter Payment Request set out in the appendix to

Part B (Form of Payment Request) of Schedule 3 (Utilisation

Requests);

"Reserves" of a state means the official external reserves of that state, by

whoever and in whatever form owned, held, administered or controlled

(including any not owned or not held or not administered or not controlled

by that state but customarily regarded and held out as its official external

reserves);

"RFR" means the euro short term rate (€STR) administered by the

European Central Bank (or any other person which takes over the

administration of that rate) published by the European Central Bank (or any

other person which takes over publication of that rate);

"RFR Banking Day" means a day (other than a Saturday or a Sunday)

which is a TARGET Day;

"Sanctions Authority" means:

the United States of America;

the United Nations Security Council;

the European Union;

OFAC and the U.S. Department of State;

any member state of the European Union; and

the UK;

"Sanctions Laws and Regulations" means any economic, financial or

trade sanctions laws, regulations, embargoes or restrictive measures

administered, enacted or enforced by any Sanctions Authority from time to

time;

"Sanctioned Country" means, at any time, a country, region or territory

which is itself the subject or target of any Sanctions Laws and Regulations

(at the time of this Agreement, including but not limited to, Crimea, Cuba,

Iran, North Korea and Syria);

"Sanctioned Person" means, at any time, (a) any person listed in any

Sanctions Laws and Regulations-related list of designated persons

maintained by any of the Sanctions Authorities, (b) any person operating,

organized or resident in a Sanctioned Country, (c) any person owned or controlled by any such person or persons described in the foregoing

clauses (a) and (b), or (d) any Person otherwise the subject of any

Sanctions Laws and Regulations;

"Screen Rate" means the euro interbank offered rate administered by the

European Money Markets Institute (or any other person which takes over

the administration of that rate) for the relevant period displayed (before any

correction, recalculation or republication by the administrator) on page

EURIBOR01 of the Thomson Reuters screen (or any replacement Thomson

Reuters page which displays that rate) or on the appropriate page of such

other information service which publishes that rate from time to time in

place of Thomson Reuters. If such page or service ceases to be available,

the Agent may specify another page or service displaying the relevant rate

after consultation with the Borrower;

"Screen Rate Replacement Event" means, in relation to a Screen Rate:

the methodology, formula or other means of determining that Screen

Rate has, in the opinion of the Majority Lenders, the Borrower and

UK Export Finance materially changed;

(b)

(i)

(A) the administrator of that Screen Rate or its supervisor

publicly announces that such administrator is

insolvent; or

(B) information is published in any order, decree, notice,

petition or filing, however described, of or filed with a

court, tribunal, exchange, regulatory authority or

similar administrative, regulatory or judicial body

which reasonably confirms that the administrator of

that Screen Rate is insolvent,

provided that, in each case, at that time, there is no

successor administrator to continue to provide that Screen

Rate;

ii)

the administrator of that Screen Rate publicly announces that

it has ceased or will cease, to provide that Screen Rate

permanently or indefinitely and, at that time, there is no

successor administrator to continue to provide that Screen

Rate;

iii)

the supervisor of the administrator of that Screen Rate

publicly announces that such Screen Rate has been or will be

permanently or indefinitely discontinued; or

iv)

the administrator of that Screen Rate or its supervisor

announces that that Screen Rate may no longer be used; or

in the opinion of the Majority Lenders, the Borrower and UK Export

Finance, that Screen Rate is otherwise no longer appropriate for the

purposes of calculating interest under this Agreement.

"Security" means any mortgage, charge, pledge, lien or other security

interest securing any obligation of any person or any other agreement or

arrangement having a similar effect;

"Side Letter" means the side letter dated on or about the date of this

Agreement between the Agent and the Borrower;

"Social Environment" means elements of the social environment including

all, or any, of the following:

human rights, including without limitation community, labour and

workers' rights and conditions;

human health, safety and security, including without limitation health,

safety and security relating to the community, public and workforce;

rights and interests and empowerment of indigenous peoples, ethnic

minorities and vulnerable groups;

cultural heritage (whether tangible or intangible) and archaeological

artefacts;

continued physical settlement, economic placement and/or

livelihood of persons (including in relation to involuntary physical

resettlement or economic displacement); and

public participation and stakeholder engagement;

"Specified Time" means a day or time determined in accordance with

Schedule 6 (Timetables);

"Subsidiary" means a company or corporation:

which is controlled, directly or indirectly, by a company or

corporation or a government agency (a "holding corporation");

more than half the issued share capital of which is beneficially

owned, directly or indirectly, by the holding corporation; or

which is a Subsidiary of another Subsidiary of the holding

corporation;

"Supplier" has the meaning given in paragraph (b) of

(VAT);

"TA Contract" means the contract or engagement letter for the technical

advisory services including on the integration of two designs in relation to

the Project, entered into or, as the context may require, to be entered into

with the IESC provided in limb (a) of the definition of IESC(s), if required by

UK Export Finance;

"TARGET2" means the Trans-European Automated Real-time Gross

Settlement Express Transfer payment system which utilises a single shared

platform and which was launched on 19 November 2007;

"TARGET Day" means any day on which TARGET2 is open for the

settlement of payments in euro;

"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);

"Tax Credit" has the meaning given in paragraph (a) of

(Tax

definitions);

"Tax Deduction" has the meaning given in paragraph (a) of

(Tax definitions);

"Tax Payment" has the meaning given in paragraph (a) of

(Tax

definitions);

"Term Rate Loan" means any Loan or, if applicable, Unpaid Sum to the

extent that it is not, or has not become a Compounded Rate Loan for its

then current Interest Period pursuant to

Clause 10.1

(Unavailability of

Screen Rate);

"Third Parties Act" means the Contracts (Rights of Third Parties) Act 1999;

"Total Commitments" means the aggregate of the Commitments being

EUR 260,000,000 at the date of this Agreement;

"Transaction Documents" means the Finance Documents and the Export

Contract;

"Transfer Certificate" means a certificate substantially in the form set out

in Schedule 4 (Form of Transfer Certificate) or any other form agreed

between the Agent and the Borrower; "Transfer Date" means, in relation to an assignment or a transfer, the later

of:

the proposed Transfer Date specified in the relevant Assignment

Agreement or Transfer Certificate, and

the date on which the Agent executes the relevant Assignment

Agreement or Transfer Certificate;

"UK" means the United Kingdom of Great Britain and Northern Ireland;

"UK Export Finance" has the meaning given in Recital (E);

"UKEF Application Form" means the application form relating to the

Export Contract provided by the Exporter to UK Export Finance on 7 May

2025, as amended from time to time;

"UKEF Guarantee" means the guarantee given or to be given by UK

Export Finance to the Lenders relating to this Agreement as referred to in

Recital (E);

"UKEF Support Fee" means the sum of EUR 18,122,000.00, being the fee

payable to UK Export Finance in relation to the issue of its UKEF

Guarantee;

"Unpaid Sum" means any sum due and payable but unpaid by the

Borrower under the Finance Documents;

"US" means the United States of America;

"Utilisation" means a utilisation of the Facility;

"Utilisation Date" means the date of a Utilisation, being the date on which

the relevant Loan is to be made;

"Utilisation Request" means:

a Reimbursement Request; or

a Payment Request.

"VAT" means:

any value added tax imposed by the Value Added Tax Act 1994;

any value added tax as provided for in the Value Added Tax Act

(Zakon o porezu na dodatu vrednost), Official Gazette of the

Republic of Serbia, nos. 84/2004, 86/2004, 61/2005, 61/2007,

93/2012, 108/2013, 6/2014, 68/2014, 142/2014, 5/2015. 83/2015, 5/2016, 108/2016, 7/2017, 113/2017, 13/2018, 30/2018,4/2019,

72/19, 8/2020, 153/2020, 138/2022 and 94/2024;

any tax imposed in compliance with the Council Directive of 28

November 2006 on the common system of value added tax (EC

Directive 2006/112); and

any other tax of a similar nature, whether imposed in the United

Kingdom or in a member state of the European Union in substitution

for, or levied in addition to, such tax referred to in paragraphs (a), (b)

and (c) above, or imposed elsewhere; and

"World Bank" means the World Bank Group, including the International

Bank for Reconstruction and Development, The International Development

Association (IDA), The International Finance Corporation (IFC) and The

Multilateral Investment Guarantee Agency (MIGA).

Clause1.2

Construction

Unless a contrary indication appears, any reference in this Agreement to:

(i)

the "Agent", any "Arranger", "UK Export Finance", the

"Borrower", any "Finance Party", any "Lender", or any "Party"

shall be construed so as to include its successors in title, permitted

assigns and permitted transferees to, or of, its rights and/or

obligations under the Finance Documents;

ii)

an "agency" shall be construed so as to include any governmental,

intergovernmental or supranational agency, authority, body, central

bank, commission, department, ministry, organisation, statutory

corporation or tribunal (including any political sub-division, national,

regional or municipal government and any administrative, fiscal,

judicial, regulatory or self-regulatory body or person);

iii)

a document in "agreed form" is a document which is previously

agreed in writing by or on behalf of the Borrower and the Agent or, if

not so agreed, is in the form specified by the Agent;

iv)

"assets" includes present and future properties, revenues and rights

of every description;

for the purposes of the definition of "Subsidiary", "control" means:

(A) the power (whether by way of ownership of shares, proxy,

contract, agency or otherwise) to:

cast, or control the casting of, more than one-half of the maximum number of votes that might be cast at a general meeting of the company; or

(2)

appoint or remove all, or the majority, of the directors or other equivalent officers of the company; or

(3)

give directions with respect to the operating and financial policies of the company or the Borrower, as applicable, which the directors or other equivalent officers of the company are obliged to comply with; or

(B) the holding of more than one-half of the issued share capital

of the company (excluding any part of that issued share

capital that carries no right to participate beyond a specified

amount in a distribution of either profits or capital);

vi)

a "Finance Document" or any other agreement or instrument is a

reference to that Finance Document or other agreement or

instrument as amended, novated, supplemented, extended or

restated;

vii)

a "group of Lenders" includes all the Lenders;

viii)

"guarantee" means any guarantee, letter of credit, bond, indemnity

or similar assurance against loss, or any obligation, direct or

indirect, actual or contingent, to purchase or assume any

indebtedness of any person or to make an investment in or loan to

any person or to purchase assets of any person where, in each

case, such obligation is assumed in order to maintain or assist the

ability of such person to meet its indebtedness;

ix)

"indebtedness" includes any obligation (whether incurred as

principal or as surety) for the payment or repayment of money,

whether present or future, actual or contingent;

a "person" includes any individual, firm, company, limited liability

company, limited joint venture, joint stock company, unincorporated

organisation, trust or other judicial entity, corporation, government,

ministry, department, state or agency of a state or any association,

trust, joint venture, consortium, partnership or other entity or political

subdivision thereof or any other entity (whether or not having

separate legal personality);

xi)

a "regulation" includes any regulation, rule, official directive,

request or guideline (whether or not having the force of law) of any

agency;

xii)

a provision of law is a reference to that provision as amended or re-

enacted from time to time; and

xiii)

a time of day is a reference to Frankfurt, Germany time.

A Compounding Methodology Supplement relating to the Daily Non-

Cumulative Compounded RFR Rate overrides anything relating to that rate

in:

Schedule 7 (Daily Non-Cumulative Compounded RFR Rate); or

ii)

any earlier Compounding Methodology Supplement.

The determination of the extent to which a rate is "for a period equal in

length" to an Interest Period shall disregard any inconsistency arising from

the last day of that Interest Period being determined pursuant to the terms

of this Agreement.

Section, Clause and Schedule headings are for ease of reference only.

Unless a contrary indication appears, a term used in any other Finance

Document or in any notice given under or in connection with any Finance

Document has the same meaning in that Finance Document or notice as in

this Agreement.

A Default (other than an Event of Default) is "continuing" if it has not been

remedied or waived and an Event of Default is "continuing" if it has not

been waived.

An E&S Trigger Event is "continuing" unless UK Export Finance has

determined that it has been remedied.

Clause1.3

Currency symbols and definitions

"€", "EUR" and "euro" denote the single currency of the Participating

Member States.

Clause1.4

Third party rights

Unless expressly provided to the contrary in a Finance Document, a person

who is not a Party has no right under the Contracts (Rights of Third Parties)

Act 1999 to enforce or to enjoy the benefit of any term of this Agreement,

other than UK Export Finance in respect of the rights expressed to be

conferred on it pursuant to:

(UKEF Guarantee);

ii)

Clause 5.1

(Initial conditions precedent);

iii)

Clause 11.4

(UKEF Support Fee);

iv)

Clause 14.2

(Other Indemnities);

Clause 14.4

(Indemnity to UK Export Finance);

vi)

Clause 16

(Costs and expenses);

vii)

Clause 18.5

("Know your customer" checks);

viii)

Clause 21.1

(Assignments and transfers by the Lenders);

ix)

Clause 21.10

(Register);

Clause 23.13

(Replacement of the Agent);

xi)

Clause 26.3

(Distributions in respect of Utilisations);

xii)

(Confidential Information); and

xiii)

any other provision of any Finance Document which expressly

confers rights on UK Export Finance.

Subject to paragraph (a) above and

Clause 32.2

(All Lender matters), a

person who is not a Party to this Agreement has no right under the

Contracts (Rights of Third Parties) Act 1999 to enforce or to enjoy the

benefit of any term of this Agreement but this does not affect any right or

remedy of any person which exists or is available otherwise than pursuant

to that Act.

2.Čl. 2.1–2.2

EFFECTIVENESS

Clause2.1

Effective Date

This Agreement shall take effect on the date on which the Agent notifies the

Borrower of the satisfaction of the following conditions in form and

substance satisfactory to the Agent (acting on the instructions of all Lenders

and UK Export Finance):

publication of the Official Gazette of the Republic of Serbia in which

the law on ratification of this Agreement by the National Assembly of

the Republic of Serbia has been published; and

ii)

delivery of a legal opinion of the Ministry of Justice of Serbia to the

Finance Parties and UK Export Finance in relation to the Finance

Documents,

For the avoidance of doubt, prior to the Effective Date, the Facility and the

obligations of the Lenders are uncommitted and there is no obligation on any Finance Party to agree to any Utilisation Request or make any

Utilisation available.

The Agent shall promptly notify the Borrower in writing upon being so

satisfied.

Notwithstanding paragraph (a) above, the provisions of

(Confidential Information) and

Clauses 38

(Governing law) – 41 (Service of

process) (inclusive) shall take effect on the date of this Agreement.

Clause2.2

Longstop Date

If the Effective Date has not occurred by a date no later than 60 days from

the date of this Agreement (or any later date which the Agent, acting on the

instructions of all Lenders and UK Export Finance, has notified to the

Borrower), this Agreement shall not take effect and no Party shall have any

rights or obligations hereunder, save to the extent contemplated in

paragraph (d) of

Clause 2.1

(Effective Date).

SECTION 2

THE FACILITY

3.Čl. 3.1–3.4

THE FACILITY

Clause3.1

The Facility

Subject to the terms of this Agreement, the Lenders make available to the

Borrower a term loan facility in the Facility Currency in an aggregate

amount equal to the Total Commitments (the "Facility").

Clause3.2

Finance Parties' rights and obligations

The obligations of each Finance Party under the Finance Documents are

several. Failure by a Finance Party to perform its obligations under the

Finance Documents does not affect the obligations of any other Party under

the Finance Documents. No Finance Party is responsible for the obligations

of any other Finance Party under the Finance Documents.

The rights of each Finance Party under or in connection with the Finance

Documents are separate and independent rights and any debt arising under

the Finance Documents to a Finance Party from the Borrower shall be a

separate and independent debt in respect of which a Finance Party shall be

entitled to enforce its rights in accordance with paragraph (c) below. The

rights of each Finance Party include any debt owing to that Finance Party

under the Finance Documents and, for the avoidance of doubt, any part of

a Loan or any other amount owed by the Borrower which relates to a

Finance Party's participation in the Facility or its role under a Finance

Document (including any such amount payable to the Agent on its behalf) is

a debt owing to that Finance Party by the Borrower.

A Finance Party may, except as otherwise stated in the Finance

Documents, separately enforce its rights under the Finance Documents.

Clause3.3

Obligations of the Borrower

The obligations of the Borrower under this Agreement shall constitute

absolute, unconditional and irrevocable financial obligations to the Finance

Parties. Such obligations are independent and separate obligations

regardless of any matter affecting the Exporter or the Export Contract

including the performance, non-performance, frustration or invalidity of the

Export Contract, or the destruction, non-completion, or non-functioning of

any of the goods and/or services to be supplied under the Export Contract

or the liquidation or bankruptcy of the Exporter or any other person.

Without prejudice to the generality of paragraph (a) above, the Borrower

acknowledges that its liability to pay in full any sum payable by it under this

Agreement on the due date for payment:

is separate from the performance by the Exporter or any other

person of their obligations under the Export Contract and any other

agreement relating thereto; and

ii)

shall not be affected in any way by reason of any claim, dispute or

defence which the Borrower or the Buyer may have or may consider

that it has against any Exporter or any other person.

Clause3.4

UKEF Guarantee

Notwithstanding any other provision of this Agreement, the Borrower

acknowledges and agrees that each Finance Party:

shall exercise or refrain from exercising its rights, powers, authorities

and discretions (including the giving of notices and instructions and

the granting of consents, waivers and permissions) under the

Finance Documents only in accordance with the written direction of

UK Export Finance given to the Agent and/or the Lenders; and

is under no obligation to the Borrower to act otherwise.

4.Čl. 4.1–4.2

PURPOSE

Clause4.1

Purpose

The Borrower shall apply all amounts borrowed by it under the Facility

towards:

making payments to the Exporter in respect of the Buyer's

obligations under the Export Contract; and

ii)

reimbursing the Borrower for payments already made by it to the

Exporter pursuant to the Export Contract,

in each case, for Eligible Goods and Eligible Services.

Clause4.2

Monitoring

No Finance Party is bound to monitor or verify the application of any

amount borrowed pursuant to this Agreement.

5.Čl. 5.1–5.2

CONDITIONS OF UTILISATION

Clause5.1

Initial conditions precedent

The Agent shall not give effect to any Utilisation Request unless:

(i)

the Effective Date has occurred;

(ii)

the Agent has received all of the documents and other evidence

listed in Schedule 2 (Conditions Precedent to Initial Utilisation) in a

form and substance satisfactory to the Agent (acting on the

instructions of all Lenders in respect of the conditions set out in

paragraphs 5 and 6(a) of Schedule 2 (Conditions Precedent to Initial

Utilisation)) within thirty (30) days of the Effective Date or by such

later date as the Agent may notify the Borrower;

iii)

the Borrower has complied with its obligations under

Clause 11.4

(UKEF Support Fee); and

iv)

the Agent has notified the Borrower and the Lenders that the

conditions precedent referred to in paragraphs (i), (ii) and (iii) above

have been satisfied (the "CP Satisfaction Notice").

Other than to the extent that any Lender notifies the Agent in writing to the

contrary before the Agent serves a CP Satisfaction Notice, the Lenders

authorise (but do not require) the Agent to give that notification. The Agent

shall not be liable for any damages, costs or losses whatsoever as a result

of giving any such notification.

The conditions precedent described in Schedule 2 (Conditions Precedent to

Initial Utilisation) are for the benefit of the Agent and the Lenders and the

Agent may waive any or all of those conditions precedent in whole or in part

and decide when and if each of those conditions precedent has been

fulfilled to its satisfaction.

If the conditions precedent referred to in paragraph (a) above are not met

within thirty (30) days of the Effective Date or any later date as the Agent

may agree, the Agent may notify the Borrower that the Commitments of the

Lenders shall be cancellable on notice.

Without prejudice to the generality of

(UKEF Guarantee), the

obligation of the Agent to deliver a CP Satisfaction Notice as set out in this

Clause 5.1

shall be subject to the overriding right of UK Export Finance in

the UKEF Guarantee to determine whether the initial conditions precedent

have been fulfilled or waived to the satisfaction of UK Export Finance.

Clause5.2

Further conditions precedent

Subject to paragraph (b) below, the Lenders shall only be obliged to comply

with

Clause 6.2

(Lenders' participation) if on the date of the Utilisation

Request (if applicable) and on the proposed Utilisation Date:

no Default is continuing or would result from the proposed Loan;

ii)

the Repeating Representations to be made by the Borrower are

true;

iii)

no External Financial Indebtedness is due and unpaid;

iv)

no event described in

Clauses 8.1

(Illegality), 8.2 (Material Export

Contract Change), 8.3 (Loss of UKEF Guarantee) or 8.4 (E&S

Incident) has occurred;

the Export Contract is in full force and effect, and has not been

terminated, suspended or amended (other than as permitted under

this Agreement) and no action is proceeding which might lead to the

termination or suspension thereof;

vi)

the UKEF Guarantee is in full force and effect;

vii)

no Sanctions Laws and Regulations would apply to or otherwise

affect the Buyer, the receipt by the Borrower, the Buyer or any

Exporter (as the case may be) of proceeds from a proposed Loan

and or the incurring of debt in relation to a proposed Loan;

viii)

it would not be unlawful or contrary to any Sanctions Laws and

Regulations applicable to a Lender for the proposed Loan to be

made;

ix)

UK Export Finance has received the full amount of the UKEF

Support Fee;

if the proposed Utilisation pursuant to a Utilisation Request is a

Reimbursement Request or a Payment Request, the

representations made by the Exporter in the Exporter Receipt or the

Exporter Payment Request, as appropriate, are true;

xi)

if the proposed Utilisation Request is a Reimbursement Request,

the amount requested does not include any amount in respect of

payments made by the Borrower under the Export Contract to the

Exporter which form part of the cash down payment referred to in

the condition precedent in paragraph 4(d)(i) of Schedule 2

(Conditions Precedent to Initial Utilisation) of the UKEF-Supported

Facility Agreement 2021;

xii)

the Borrower has provided copies of all relevant Authorisations

relating to the proposed Loan including, without limitation, evidence

of the inclusion of the proposed Loan in the relevant annual budget

law of the Republic of Serbia; and

xiii)

there has been no event or circumstance that in the opinion of the

Majority Lenders constitutes or may constitute a material adverse

change in the Relevant Jurisdiction or in its international financial,

economic or political or social conditions, including any sovereign

risk downgrading of the Relevant Jurisdiction by an international

agency and/or deterioration in financial sector of the Relevant

Jurisdiction, war, civil war, revolution, uprising, acts of terrorism

and/or sabotage, an extension of exchange controls or a debt

moratorium, or a change in law or regulation or in the political,

economic, financial, commercial, legal and fiscal environment of the

Relevant Jurisdiction, and which in the opinion of the Majority

Lenders would make it inadvisable to proceed with the Utilisations.

Each Lender may, acting at its discretion, decide to make its participation in

each Loan available in accordance with

Clause 6.2

(Lenders' participation)

regardless of:

whether the conditions set out in paragraph (a) above have been

met; or

ii)

the delivery of notice to the Borrower under paragraph (c) of Clause

20.14 (Acceleration).

If any Loans are made when one or more of the conditions referred to in

paragraph (a) above have not been met or after delivery of notice to the

Borrower under paragraph (c) of

(Acceleration), such Loans

shall be repayable by the Borrower on demand by the Agent on the

instructions of the Majority Lenders.

SECTION 3

UTILISATION

6.Čl. 6.1–6.3

UTILISATION

Clause6.1

Utilisation of the Facility

The Borrower may utilise the Facility by delivery to the Agent of:

(i)

a Payment Request duly completed to the Agent's satisfaction and

to which a duly completed Exporter Payment Request is attached by

no later than the Specified Time; or

ii)

a Reimbursement Request duly completed to the Agent's

satisfaction and to which a duly completed Exporter Receipt is

attached by no later than the Specified Time.

Each Utilisation Request is irrevocable and shall not be regarded as having

been duly completed unless:

it is delivered to the Agent not less than ten (10) Business Days

before the last day of the Availability Period;

ii)

the proposed Utilisation Date is a Business Day within the

Availability Period;

iii)

the currency of the Loan requested in the Utilisation Request is the

Facility Currency;

iv)

with respect to a Payment Request, the amount of the proposed

Loan is the total amount certified in the Exporter Payment Request

attached thereto, as being due to the Exporter under the Export

Contract or, if less, the Available Facility;

with respect to a Reimbursement Request, the amount of the

proposed Loan is an amount that does not exceed the Available

Facility and which is a minimum of EUR 3,725,000 or, if less, the

Available Facility;

vi)

it has been signed by the Borrower's Signatory and the Exporter

Receipt or the Exporter Payment Request, as applicable, has been

signed by the Exporter's Signatory; and

vii)

it has attached true copies of each of the Required Documents.

Only one Loan may be requested in each Utilisation Request.

The minimum amount for each Utilisation Request shall be EUR 3,725,000.

Clause6.2

Lenders' participation

If the conditions set out in this Agreement have been met, each Lender

shall make its participation in each Loan available by the Utilisation Date

through its Facility Office.

The amount of each Lender's participation in each Loan shall be equal to

the proportion borne by its Available Commitment to the Available Facility

immediately prior to making such Loan.

The Agent shall notify each Lender of the amount of each Loan and the

amount of its participation in that Loan by the Specified Time.

Clause6.3

Utilisation proceeds paid directly to the Exporter

The Borrower acknowledges and agrees that the payment of the proceeds

of any Utilisation directly to the Exporter (in satisfaction of Buyer's

obligations to the Exporter under the Export Contract) shall constitute a

Loan for the purposes of this Agreement as if the proceeds of that Loan had

been paid to the Borrower. The Borrower shall comply with the NBS

reporting requirements for recording any such payment as Utilisation.

SECTION 4

REPAYMENT, PREPAYMENT AND CANCELLATION

7.Čl. 7.1–7.2

REPAYMENT

Clause7.1

Repayment of Loans

Subject to paragraph (b) below, the Borrower shall repay outstanding Loans

in equal six monthly instalments of EUR 13,000,000 (being 1/20th of the

amount that would be outstanding on the last day of the Availability Period if

the entire Total Commitments were utilised during the Availability Period).

The instalments referred to in paragraph (a) above shall be payable as

follows:

the first such instalment shall become due and payable on the First

Repayment Date; and

ii)

the Borrower shall continue to pay further such instalments (or if

less, the remainder of all outstanding Loans) on each succeeding

Repayment Date until it has repaid all outstanding Loans.

Clause7.2

Reborrowing

The Borrower may not reborrow any part of the Facility which is repaid.

8.Čl. 8.1–8.9

PREPAYMENT AND CANCELLATION

Clause8.1

Illegality

If, in any applicable jurisdiction, it is or becomes unlawful for any Lender

(including, without limitation, as a result of Sanctions Laws and Regulations

applicable to that Lender) to perform any of its obligations as contemplated

by this Agreement or to fund or to maintain its participation in any Loan or it

becomes unlawful for any Affiliate of a Lender for that Lender to do so:

that Lender shall promptly notify the Agent upon becoming aware of

that event;

upon the Agent notifying the Borrower of that event, the Available

Commitment of that Lender will be immediately cancelled; and

to the extent that the Lender's participation has not been transferred

pursuant to paragraph (b) of

Clause 8.7

(Right of replacement in

relation to a single Lender), the Borrower shall repay that Lender's

participation in the Loans on the first Interest Payment Date

occurring after the Agent has so notified the Borrower or, if earlier,

the date specified by the Lender in the notice delivered to the Agent

pursuant to paragraph (a) above (being no earlier than the last day of any applicable grace period permitted by law) and that Lender's

corresponding Commitment shall be immediately cancelled in the

amount of the participations repaid.

Clause8.2

Material Export Contract Change

If a Material Export Contract Change is made without the prior written

consent of the Agent:

the Lenders shall not be obliged to fund a Utilisation; and

if the Majority Lenders so require, the Agent shall, by not less than

five (5) Business Days' notice to the Borrower, cancel the Total

Commitments and declare all Loans, together with accrued interest,

and all other amounts accrued or outstanding under the Finance

Documents immediately due and payable, whereupon the Total

Commitments will be immediately cancelled, the Facility shall

immediately cease to be available for further utilisation and all such

Loans, accrued interest and other amounts shall become

immediately due and payable.

Clause8.3

Loss of UKEF Guarantee

If the UKEF Guarantee ceases to provide the full benefit of cover to a

Lender or it becomes unlawful for UK Export Finance to perform any of its

obligations under the UKEF Guarantee in respect of a Lender or any

obligation or obligations of UK Export Finance under the UKEF Guarantee

are not or cease to be legal, valid, binding or enforceable or the UKEF

Guarantee is not or ceases to be in full force and effect other than as a

direct result of the gross negligence or wilful misconduct of the relevant

Lender:

the relevant Lender shall not be obliged to fund a Utilisation; and

if the Lender so requires, the Agent shall, by not less than thirty (30)

days' notice to the Borrower, cancel the Commitment of that Lender

and declare the participation of that Lender in all outstanding Loans,

together with accrued interest, and all other amounts accrued under

the Finance Documents immediately due and payable, whereupon

the Commitment of that Lender will be cancelled and all such

outstanding amounts will become immediately due and payable.

Clause8.4

E&S Incident

If an E&S Incident under paragraph (d)(i)(D) (E&S Trigger Events) of

(Environmental undertakings) occurs or any E&S Incident is deemed to be incapable of remedy pursuant to paragraph (d)(ii) (E&S

Trigger Events) of

(Environmental undertakings):

the Lenders shall not be obliged to fund a Utilisation; and

the Agent shall, by not fewer than five (5) Business Days' notice to

the Borrower, cancel the Total Commitments and declare all Loans,

together with accrued interest, and all other amounts accrued or

outstanding under the Finance Documents immediately due and

payable, whereupon the Total Commitments will be immediately

cancelled, the Facility shall immediately cease to be available for

further utilisation and all such Loans, accrued interest and other

amounts shall become immediately due and payable.

Clause8.5

Voluntary cancellation

The Borrower may not cancel the whole or any part of the Available Facility,

unless otherwise agreed by the Agent.

Clause8.6

Voluntary prepayment of Loans

Subject to paragraph (b) below, the Borrower may, if it gives the Agent not

less than thirty (30) Business Days' (or such shorter period as the Majority

Lenders may agree) prior notice, prepay the whole or any part of any Loan

but, if in part, being an amount that reduces the amount of the Loan by a

minimum amount of EUR 5,000,000.

A Loan may only be prepaid after the last day of the Availability Period (or if

earlier, the day on which the Available Facility is zero).

In the case of a Compounded Rate Loan, the Borrower shall not make

more than four (4) prepayments during each rolling period of twelve (12)

months starting from the date of the first repayment (or prepayment) for that

Compounded Rate Loan.

Any prepayments made under this

Clause 8.6

shall satisfy the Borrower's

obligations under

Clause 7.1

(Repayment of Loans) in inverse

chronological order of the Repayment Dates.

Clause8.7

Right of replacement in relation to a single Lender

If:

(i)

any sum payable to any Lender by the Borrower is required to be

increased under paragraph (c) of

Clause 12.2

(Tax gross up); or

ii)

any Lender claims indemnification from the Borrower under Clause

12.3 (Tax indemnity) or

(Increased costs), the Borrower may, with the prior written consent of the Agent, whilst the

circumstance giving rise to the requirement for that increase or

indemnification continues, give the Agent notice of its intention to replace

that Lender in accordance with paragraph (b) below.

If:

(i)

any of the circumstances set out in paragraph (a) above apply to a

Lender; or

ii)

the Borrower becomes obliged to pay any amount in accordance

with

(Illegality) to any Lender,

the Borrower may, on not less than thirty (30) Business Days' prior notice to

the Agent and that Lender, replace that Lender by requiring that Lender to

(and, to the extent permitted by law, that Lender shall) transfer pursuant to

(Changes to the Lenders) all (and not part only) of its rights and

obligations under this Agreement to a Lender or other bank, financial

institution, trust, fund or other entity selected by the Borrower which

confirms its willingness to assume and does assume all the obligations of

the transferring Lender in accordance with

(Changes to the

Lenders) for a purchase price in cash payable at the time of the transfer in

an amount equal to the outstanding principal amount of such Lender's

participation in the outstanding Loans and all accrued interest (to the extent

that the Agent has not given a notification under

(Pro rata

interest settlement)), Break Costs and other amounts payable in relation to

such participation under the Finance Documents.

The replacement of a Lender pursuant to paragraph (b) above shall be

subject to the following conditions:

the Borrower shall have no right to replace the Agent;

ii)

neither the Agent nor any Lender shall have any obligation to find a

replacement Lender;

iii)

in no event shall the Lender replaced under paragraph (b) above be

required to pay or surrender any of the fees received by such

Lender pursuant to the Finance Documents; and

iv)

the Lender shall only be obliged to transfer its rights and obligations

pursuant to paragraph (b) above once it is satisfied that it has

complied with all necessary "know your customer" or other similar

checks under all applicable laws in relation to that transfer.

A Lender shall perform the checks described in paragraph (c)(iv) above as

soon as reasonably practicable following delivery of a notice referred to in

paragraph (b) above and shall notify the Agent and the Borrower when it is

satisfied that it has complied with those checks.

Clause8.8

Restrictions

Any notice of cancellation or prepayment given by any Party under this

Clause 8

shall be irrevocable and, unless a contrary indication appears in

this Agreement, shall specify the date or dates upon which the relevant

cancellation or prepayment is to be made and the amount of that

cancellation or prepayment.

Any prepayment under this Agreement shall be made together with accrued

interest on the amount prepaid and, subject to any Break Costs, without

premium or penalty.

The Borrower may not reborrow any part of the Facility which is prepaid.

The Borrower shall not repay or prepay all or any part of the Loans except

at the times and in the manner expressly provided for in this Agreement.

No amount of the Total Commitments cancelled under this Agreement may

be subsequently reinstated.

If the Agent receives a notice under this

Clause 8

, it shall promptly forward

a copy of that notice to either the Borrower or the affected Lender, as

appropriate.

If all or part of any Lender's participation in a Loan is repaid or prepaid an

amount of that Lender's Commitment (equal to the amount of the

participation which is repaid or prepaid) shall be deemed to be cancelled on

the date of such repayment or prepayment.

Clause8.9

Application of prepayments

Any prepayment of a Loan pursuant to Clause 8.2 (Material Export Contract

Change),

Clause 8.4

(E&S Incident) or

Clause 8.6

(Voluntary prepayment

of Loans) shall be applied pro rata to each Lender's participation in that

Loan.

SECTION 5

COSTS OF UTILISATION

9.Čl. 9.1–9.8

INTEREST

Clause9.1

Calculation of interest

The rate of interest on each Loan for each Interest Period is the percentage

rate per annum which is the aggregate of the applicable:

Margin; and

EURIBOR.

Clause9.2

Calculation of interest – Compounded Rate Loans

The rate of interest on each Compounded Rate Loan for any day during an

Interest Period is the percentage rate per annum which is the aggregate of

the applicable:

Margin; and

ii)

Compounded Reference Rate for that day.

If any day during an Interest Period for a Compounded Rate Loan is not an

RFR Banking Day, the rate of interest on that Compounded Rate Loan for

that day will be the rate applicable to the immediately preceding RFR

Banking Day.

Clause9.3

Payment of interest

The Borrower shall pay accrued interest on each Loan on each Interest

Payment Date.

Clause9.4

Default interest

If the Borrower fails to pay any amount payable by it under a Finance

Document on its due date, interest shall accrue on the overdue amount

from the due date up to the date of actual payment (both before and after

judgment) at a rate which, subject to paragraph (b) below, is two per cent.

(2.00%) per annum higher than the rate which would have been payable if

the overdue amount had, during the period of non-payment, constituted a

Loan in the currency of the overdue amount for successive Interest Periods,

each of a duration selected by the Agent (acting reasonably). Any interest

accruing under this

shall be immediately payable by the

Borrower on demand by the Agent.

If any overdue amount consists of all or part of a Loan which became due

on a day which was not an Interest Payment Date:

the first Interest Period for that overdue amount shall have a

duration equal to the unexpired portion of the current Interest Period

relating to that Loan; and

ii)

the rate of interest applying to the overdue amount during that first

Interest Period shall be two per cent. (2.00%). per annum higher

than the rate which would have applied if the overdue amount had

not become due.

Default interest (if unpaid) arising on an overdue amount will be

compounded with the overdue amount at the end of each Interest Period

applicable to that overdue amount but will remain immediately due and

payable.

Clause9.5

Notification of rates of interest

The Agent shall promptly notify the Lenders and the Borrower of the

determination of a rate of interest under this Agreement.

The Agent shall promptly notify the Borrower of each Funding Rate relating

to a Loan.

Clause9.6

Interest Periods

The period for which each Loan is outstanding shall be divided into

successive Interest Periods.

The first day of an Interest Period for each Loan shall begin on:

(i)

for the first Interest Period for that Loan, its Utilisation Date; and

(ii)

for each subsequent Interest Period, the Interest Payment Date of

the preceding Interest Period.

The last day of an Interest Period for each Loan shall (subject to paragraph

(d)

below) be the earlier of:

(i)

the date falling six (6) calendar months after the first day of that

Interest Period;

ii)

the Interest Payment Date of any other Loan; and

iii)

the first Repayment Date falling after the first day of that Interest

Period.

If the Utilisation Date of any Loan is less than fifteen (15) days prior to an

Interest Payment Date, the first Interest Period for that Loan shall end on the Interest Payment Date that next follows the Interest Payment Date

immediately succeeding the Utilisation Date.

Clause9.7

Non-Business Days

If an Interest Period would otherwise end on a day which is not a Business

Day, that Interest Period will instead end on the next Business Day in that

calendar month (if there is one) or the preceding Business Day (if there is

not).

Clause9.8

Amalgamation of Loans

If two or more Interest Periods relate to Loans and end on the same date,

those Loans will be consolidated into, and treated as, a single Loan on the

last day of the Interest Period.

10.Čl. 10.1–10.4

CHANGES TO THE CALCULATION OF INTEREST

Clause10.1

Unavailability of Screen Rate

If no Screen Rate is available for EURIBOR for the Interest Period of a

Loan, the applicable EURIBOR shall be the Interpolated Screen Rate for a

period equal in length to the Interest Period of that Loan.

If paragraph (a) above applies but it is not possible to calculate the

Interpolated Screen Rate, then:

there shall be no EURIBOR for that Loan for that Interest Period and

Clause 9.1

(Calculation of interest) will not apply to that Loan for that

Interest Period; and

ii)

that Loan shall be a Compounded Rate Loan for that Interest Period

and

Clause 9.2

(Calculation of interest – Compounded Rate Loans)

shall apply to that Loan for that Interest Period; or

If paragraph (b) above applies but it is not possible to calculate the

Compounded Reference Rate for that Loan, then

(Cost of

funds) shall apply to that Loan for that Interest Period.

Clause10.2

Market disruption

If before close of business in London on the Quotation Day for the relevant

Interest Period the Agent receives notifications from a Lender or Lenders

(whose participations in a Loan exceed forty per cent. (40.00%) of that

Loan) that the cost to it of funding its participation in that Loan from

whatever source it may reasonably select would be in excess of EURIBOR

then

(Cost of funds) shall apply to that Loan for the relevant

Interest Period.

Clause10.3

Cost of funds

If this

applies, the rate of interest on the relevant Loan for the

relevant Interest Period shall be the percentage rate per annum which is

the sum of:

the Margin; and

ii)

the rate notified to the Agent by that Lender as soon as practicable

and in any event before the date on which interest is due to be paid

in respect of that Interest Period, to be that which expresses as a

percentage rate per annum the cost to the relevant Lender of

funding its participation in that Loan from whatever source it may

reasonably select.

If this

applies and the Agent or the Borrower so requires, the

Agent and the Borrower shall enter into negotiations (for a period of not

more than thirty (30) days) with a view to agreeing a substitute basis for

determining the rate of interest.

Any alternative basis agreed pursuant to paragraph (b) above shall, with

the prior written consent of all the Lenders and the Borrower, be binding on

all Parties.

Clause10.4

Break Costs

The Borrower shall, within ten (10) Business Days of demand by a Finance

Party, pay to that Finance Party its Break Costs attributable to all or any part

of a Loan or Unpaid Sum being paid by that Borrower on a day other than

an Interest Payment Date for that Loan or Unpaid Sum.

Each Lender shall, as soon as reasonably practicable after a demand by

the Agent, provide a certificate confirming the amount of its Break Costs for

any Interest Period in which they accrue.

11.Čl. 11.1–11.4

FEES

Clause11.1

Commitment fee

The Borrower shall pay to the Agent (for the account of each Lender) a fee

computed at the rate of forty per cent. (40%) of the applicable Margin per

annum on each of that Lender's Available Commitments for the Availability

Period.

The accrued commitment fee under paragraph (a) above is payable in

arrears on:

during the Availability Period, on each 31 March, 30 June, 30

September and 31 December;

ii)

the last day of the Availability Period; and

iii)

if cancelled in full after the occurrence of the Effective Date, the

cancelled amount of the relevant Lender's Commitment at the time

the cancellation is effective.

Clause11.2

Arrangement fee

The Borrower shall pay to the Initial Mandated Lead Arranger (for the

account of the Arrangers) through the Agent an arrangement fee in the

amount and at the times agreed in a Fee Letter.

Clause11.3

Agency fee

The Borrower shall pay to the Agent (for its own account) an agency fee in

the amount and at the times agreed in a Fee Letter.

Clause11.4

UKEF Support Fee

The Borrower shall pay to UK Export Finance (pursuant to the Lenders'

obligations under the UKEF Guarantee) an amount equal to the UKEF

Support Fee on or before the first Utilisation Date.

SECTION 6

ADDITIONAL PAYMENT OBLIGATIONS

12.Čl. 12.1–12.8

TAX GROSS UP AND INDEMNITIES

Clause12.1

Tax definitions

In this Agreement,

"Protected Party" means a Finance Party which is or will be subject to any

liability, or required to make any payment, for or on account of Tax in

relation to a sum received or receivable (or any sum deemed for the

purposes of Tax to be received or receivable) under a Finance Document;

"Tax Credit" means a credit against, relief or remission for, or repayment of

any Tax;

"Tax Deduction" means a deduction or withholding for or on account of Tax

from a payment under a Finance Document, other than a FATCA

Deduction; and

"Tax Payment" means either the increase in a payment made by the

Borrower to a Finance Party under

Clause 12.2

(Tax gross up) or a

payment under

(Tax indemnity).

Unless a contrary indication appears, in this

Clause 12

a reference to

"determines" or "determined" means a determination made in the

absolute discretion of the person making the determination.

Clause12.2

Tax gross up

The Borrower shall make all payments to be made by it without any Tax

Deduction, unless a Tax Deduction is required by law.

The Borrower shall promptly upon becoming aware that the Borrower must

make a Tax Deduction (or that there is any change in the rate or the basis

of a Tax Deduction) notify the Agent accordingly. Similarly, a Lender shall

notify the Agent on becoming so aware in respect of a payment payable to

that Lender. If the Agent receives such notification from a Lender it shall

notify the Borrower.

If a Tax Deduction is required by law to be made by the Borrower, the

amount of the payment due from the Borrower shall be increased to an

amount which (after making any Tax Deduction) leaves an amount equal to

the payment which would have been due if no Tax Deduction had been

required.

If the Borrower is required to make a Tax Deduction, that Borrower shall

make that Tax Deduction and any payment required in connection with that

Tax Deduction within the time allowed and in the minimum amount required

by law.

Within thirty (30) days of making either a Tax Deduction or any payment

required in connection with that Tax Deduction, the Borrower making that

Tax Deduction shall deliver to the Agent for the Finance Party entitled to the

payment evidence reasonably satisfactory to that Finance Party that the

Tax Deduction has been made or (as applicable) any appropriate payment

paid to the relevant taxing authority.

Clause12.3

Tax indemnity

The Borrower shall (within five (5) Business Days of demand by the Agent)

pay to a Protected Party an amount equal to the loss, liability or cost which

that Protected Party determines will be or has been (directly or indirectly)

suffered for or on account of Tax by that Protected Party in respect of a

Finance Document.

Paragraph (a) above shall not apply:

(i)

with respect to any Tax assessed on a Finance Party:

(A) under the law of the jurisdiction in which that Finance Party is

incorporated or, if different, the jurisdiction (or jurisdictions) in

which that Finance Party is treated as resident for tax

purposes; or

(B) under the law of the jurisdiction in which that Finance Party's

Facility Office is located in respect of amounts received or

receivable in that jurisdiction,

if that Tax is imposed on or calculated by reference to the net

income received or receivable (but not any sum deemed to be

received or receivable) by that Finance Party; or

ii)

to the extent a loss, liability or cost:

(A) is compensated for by an increased payment under Clause

12.2 (Tax gross up); or

(B) relates to a FATCA Deduction required to be made by a Party.

A Protected Party making, or intending to make a claim under paragraph (a)

above shall promptly notify the Agent of the event which will give, or has

given, rise to the claim, following which the Agent shall notify the Borrower.

A Protected Party shall, on receiving a payment from the Borrower under

this

, notify the Agent.

Clause12.4

Tax Credit

If the Borrower makes a Tax Payment and the relevant Finance Party

determines that:

a Tax Credit is attributable to an increased payment of which that

Tax Payment forms part, to that Tax Payment or to a Tax Deduction

in consequence of which that Tax Payment was required; and

that Finance Party has obtained and utilised that Tax Credit,

the Finance Party shall pay an amount to the Borrower which that Finance

Party determines will leave it (after that payment) in the same after-Tax

position as it would have been in had the Tax Payment not been required to

be made by the Borrower.

Clause12.5

Stamp taxes

The Borrower shall pay and, within three (3) Business Days of demand,

indemnify each Finance Party against any cost, loss or liability that Finance

Party incurs in relation to all stamp duty, registration and other similar Taxes

payable in respect of any Finance Document.

Clause12.6

VAT

All amounts expressed to be payable under a Finance Document by any

Party to a Finance Party which (in whole or in part) constitute the

consideration for any supply for VAT purposes are deemed to be exclusive

of any VAT which is chargeable on that supply, and accordingly, subject to

paragraph (b) below, if VAT is or becomes chargeable on any supply made

by any Finance Party to any Party under a Finance Document and such

Finance Party is required to account to the relevant tax authority for the

VAT, that Party must pay to such Finance Party (in addition to and at the

same time as paying any other consideration for such supply) an amount

equal to the amount of the VAT (and such Finance Party must promptly

provide an appropriate VAT invoice to that Party).

If VAT is or becomes chargeable on any supply made by any Finance Party

(the "Supplier") to any other Finance Party (the "Recipient") under a

Finance Document, and any Party other than the Recipient (the "Relevant

Party") is required by the terms of any Finance Document to pay an

amount equal to the consideration for that supply to the Supplier (rather

than being required to reimburse or indemnify the Recipient in respect of

that consideration):

(where the Supplier is the person required to account to the relevant

tax authority for the VAT) the Relevant Party must also pay to the

Supplier (at the same time as paying that amount) an additional

amount equal to the amount of the VAT. The Recipient must (where

this paragraph (i) applies) promptly pay to the Relevant Party an

amount equal to any credit or repayment the Recipient receives from

the relevant tax authority which the Recipient reasonably determines

relates to the VAT chargeable on that supply; and

ii)

(where the Recipient is the person required to account to the

relevant tax authority for the VAT) the Relevant Party must promptly,

following demand from the Recipient, pay to the Recipient an

amount equal to the VAT chargeable on that supply but only to the

extent that the Recipient reasonably determines that it is not entitled

to credit or repayment from the relevant tax authority in respect of

that VAT.

Where a Finance Document requires any Party to reimburse or indemnify a

Finance Party for any cost or expense, that Party shall reimburse or

indemnify (as the case may be) such Finance Party for the full amount of

such cost or expense, including such part thereof as represents VAT, save

to the extent that such Finance Party reasonably determines that it is

entitled to credit or repayment in respect of such VAT from the relevant tax

authority.

Any reference in this

to any Party shall, at any time when such

Party is treated as a member of a group for VAT purposes, include (where

appropriate and unless the context otherwise requires) a reference to the

person who is treated at that time as making the supply, or (as appropriate)

receiving the supply, under the VAT grouping rules (provided for in

Article 11

of Council Directive 2006/112/EC (or as implemented by the relevant

member state of the European Union) or any other similar provision in any

jurisdiction which is not a member state of the European Union) so that a

reference to a Party shall be construed as a reference to that Party or the

relevant group or unity (or fiscal unity) of which that Party is a member for

VAT purposes at the relevant time or the relevant representative member

(or representative or head) of that group or unity (or fiscal unity) at the

relevant time (as the case may be).

In relation to any supply made by a Finance Party to any Party under a

Finance Document, if reasonably requested by such Finance Party, that

Party must promptly provide such Finance Party with details of that Party's VAT registration and such other information as is reasonably requested in

connection with such Finance Party's VAT reporting requirements in relation

to such supply.

Clause12.7

FATCA Information

Subject to paragraph (c) below, each Party shall, within ten (10) Business

Days of a reasonable request by another Party:

confirm to that other Party whether it is:

(A) a FATCA Exempt Party; or

(B) not a FATCA Exempt Party;

ii)

supply to that other Party such forms, documentation and other

information relating to its status under FATCA as that other Party

reasonably requests for the purposes of that other Party's

compliance with FATCA; and

iii)

supply to that other Party such forms, documentation and other

information relating to its status as that other Party reasonably

requests for the purposes of that other Party's compliance with any

other law, regulation, or exchange of information regime.

If a Party confirms to another Party pursuant to paragraph (a)(i) above that

it is a FATCA Exempt Party and it subsequently becomes aware that it is

not or has ceased to be a FATCA Exempt Party, that Party shall notify that

other Party reasonably promptly.

Paragraph (a) above shall not oblige any Finance Party to do anything, and

paragraph (a)(iii) above shall not oblige any other Party to do anything,

which would or might in its reasonable opinion constitute a breach of:

any law or regulation;

ii)

any fiduciary duty; or

iii)

any duty of confidentiality.

If a Party fails to confirm whether or not it is a FATCA Exempt Party or to

supply forms, documentation or other information requested in accordance

with paragraph (a)(i) or (a)(ii) above (including, for the avoidance of doubt,

where paragraph (c) above applies), then such Party shall be treated for the

purposes of the Finance Documents (and payments under them) as if it is

not a FATCA Exempt Party until such time as the Party in question provides

the requested confirmation, forms, documentation or other information.

Clause12.8

FATCA Deduction

Each Party may make any FATCA Deduction it is required to make by

FATCA, and any payment required in connection with that FATCA

Deduction, and no Party shall be required to increase any payment in

respect of which it makes such a FATCA Deduction or otherwise

compensate the recipient of the payment for that FATCA Deduction.

Each Party shall promptly, upon becoming aware that it must make a

FATCA Deduction (or that there is any change in the rate or the basis of

such FATCA Deduction), notify the Party to whom it is making the payment

and, in addition, shall notify the Borrower and the Agent and the Agent shall

notify the other Finance Parties.

13.Čl. 13.1–13.3

INCREASED COSTS

Clause13.1

Increased costs

Subject to

Clause 13.3

(Exceptions) the Borrower shall, within twenty (20)

Business Days of a demand by the Agent, pay for the account of a Finance

Party the amount of any Increased Costs incurred by that Finance Party or

any of its Affiliates as a result of:

the introduction of or any change in (or in the interpretation,

administration or application of) any law or regulation after the date

of this Agreement;

ii)

compliance with any law or regulation made after the date of this

Agreement; or

iii)

the implementation of or application of or compliance with Basel III

or CRD IV or any other law or regulation which implements Basel III

or CRD IV (whether such implementation, application or compliance

is by a government, regulator, Finance Party or any of its Affiliates).

In this Agreement:

"Basel III" means:

the agreements on capital requirements, a leverage ratio and

liquidity standards contained in "Basel III: A global regulatory

framework for more resilient banks and banking systems", "Basel III:

International framework for liquidity risk measurement, standards

and monitoring" and "Guidance for national authorities operating the

countercyclical capital buffer" published by the Basel Committee in

December 2010, each as amended, supplemented or restated;

the rules for global systemically important banks contained in

"Global systemically important banks: assessment methodology and

the additional loss absorbency requirement – Rules text" published

by the Basel Committee on Banking Supervision in November 2011,

as amended or restated; and

any further guidance or standards published by the Basel

Committee relating to "Basel III";

"Basel Committee" means the Basel Committee on Banking

Supervision;

"CRD IV" means:

Regulation (EU) No 575/2013 of the European Parliament and of the

Council of 26 June 2013 on prudential requirements for credit

institutions and investment firms and amending Regulation (EU No

648/2012); and

Directive 2013/36/EU of the European Parliament and of the Council

of 26 June 2013 on access to the activity of credit institutions and

the prudential supervision of credit institutions and investment firms,

amending Directive 2002/87/EC and repealing Directives

2006/48/EC and 2006/49/EC; and

"Increased Costs" means:

a reduction in the rate of return from the Facility or on a Finance

Party's (or its Affiliate's) overall capital;

an additional or increased cost; or

a reduction of any amount due and payable under any Finance

Document,

which is incurred or suffered by a Finance Party or any of its Affiliates to the

extent that it is attributable to that Finance Party having entered into its

Commitment or funding or performing its obligations under any Finance

Document.

Clause13.2

Increased cost claims

A Finance Party intending to make a claim pursuant to

(Increased costs) shall notify the Agent of the event giving rise to the claim,

following which the Agent shall promptly notify the Borrower.

Each Finance Party shall, as soon as practicable after a demand by the

Agent, provide a certificate confirming the amount of its Increased Costs.

Clause13.3

Exceptions

(Increased costs) does not apply to the extent any Increased

Cost is:

attributable to a Tax Deduction required by law to be made by the

Borrower;

attributable to a FATCA Deduction required to be made by a Party;

compensated for by

(Tax indemnity) (or would have

been compensated for under

(Tax indemnity) but was

not so compensated solely because any of the exclusions in

paragraph (b) of

(Tax indemnity) applied); or

attributable to the wilful breach by the relevant Finance Party or its

Affiliates of any law or regulation.

14.Čl. 14.1–14.4

OTHER INDEMNITIES

Clause14.1

Currency indemnity

If any sum due from the Borrower under the Finance Documents (a "Sum"),

or any order, judgment or award given or made in relation to a Sum, has to

be converted from the currency (the "First Currency") in which that Sum is

payable into another currency (the "Second Currency") for the purpose of:

making or filing a claim or proof against that Borrower; or

ii)

obtaining or enforcing an order, judgment or award in relation to any

litigation or arbitration proceedings,

the Borrower shall as an independent obligation, within three (3) Business

Days of demand, indemnify each Finance Party to whom that Sum is due

against any cost, loss or liability arising out of or as a result of the

conversion including any discrepancy between (A) the rate of exchange

used to convert that Sum from the First Currency into the Second Currency

and (B) the rate or rates of exchange available to that person at the time of

its receipt of that Sum.

The Borrower waives any right it may have in any jurisdiction to pay any

amount under the Finance Documents in a currency or currency unit other

than that in which it is expressed to be payable.

Clause14.2

Other indemnities

The Borrower shall, within ten (10) Business Days of demand, indemnify

each Finance Party and UK Export Finance against any cost, loss or liability

incurred by that Finance Party or UK Export Finance as a result of:

the occurrence of any Event of Default;

a failure by the Borrower to pay any amount due under a Finance

Document on its due date, including without limitation, any cost, loss

or liability arising as a result of

Clause 25

(Sharing among the

Finance Parties);

funding, or making arrangements to fund, its participation in a Loan

requested by the Borrower in a Utilisation Request but not made by

reason of the operation of any one or more of the provisions of this

Agreement (other than by reason of default or negligence by that

Finance Party alone); or

a Loan (or part of a Loan) not being prepaid in accordance with a

notice of prepayment given by the Borrower.

Clause14.3

Indemnity to the Agent

The Borrower shall promptly indemnify the Agent against any cost, loss or

liability incurred by the Agent (acting reasonably) as a result of:

investigating any event which it reasonably believes is a Default;

ii)

acting or relying on any notice, request or instruction which it

reasonably believes to be genuine, correct and appropriately

authorised; or

iii)

instructing lawyers, accountants, tax advisers, surveyors or other

professional advisers or experts as permitted under this Agreement.

The Borrower shall promptly indemnify the Agent against any cost, loss or

liability incurred by the Agent (otherwise than by reason of the Agent's

gross negligence or wilful misconduct) in acting as Agent under the Finance

Documents.

Clause14.4

Indemnity to UK Export Finance

The Borrower shall promptly indemnify UK Export Finance against any cost,

loss or liability incurred by UK Export Finance in connection with this

Agreement as a result of:

investigating any event which it reasonably believes is a Default;

acting or relying on any notice, request or instruction which it

reasonably believes to be genuine, correct and appropriately

authorised; or

instructing lawyers, accountants, tax advisers, surveyors or other

professional advisers or experts.

15.Čl. 15.1–15.2

MITIGATION BY THE LENDERS

Clause15.1

Mitigation

Each Finance Party shall, in consultation with the Borrower, take all

reasonable steps to mitigate any circumstances which arise and which

would result in any amount becoming payable under or pursuant to, or

cancelled pursuant to, any of

(Illegality),

Clause 12

(Tax gross

up and indemnities) or

(Increased costs) including (but not

limited to) transferring its rights and obligations under the Finance

Documents to another Affiliate or Facility Office.

Paragraph (a) above does not in any way limit the obligations of the

Borrower under the Finance Documents.

Clause15.2

Limitation of liability

The Borrower shall promptly indemnify each Finance Party for all costs and

expenses reasonably incurred by that Finance Party as a result of steps

taken by it under

Clause 15.1

(Mitigation).

A Finance Party is not obliged to take any steps under

Clause 15.1

(Mitigation) if, in the opinion of that Finance Party (acting reasonably), to do

so might be prejudicial to it or adversely affect the Finance Party's rights

under the UKEF Guarantee.

16.Čl. 16.1–16.4

COSTS AND EXPENSES

Clause16.1

Transaction expenses

The Borrower shall promptly on demand pay the Agent and the Arrangers

the amount of all costs and expenses (including, without limitation, legal

fees, travel and expenses together with any irrecoverable value-added-tax

or similar taxes incurred on such costs and expenses) reasonably incurred

by any of them in connection with the negotiation, preparation, printing,

execution and syndication of:

the Finance Documents and any other documents referred to in the

Finance Documents; and

any other Finance Documents executed after the date of this

Agreement.

Clause16.2

Amendment costs

If:

the Borrower requests an amendment, waiver or consent in respect

of a Finance Document;

an amendment is required pursuant to

Clause 26.11

(Change of

currency); or

any amendment or waiver is contemplated or agreed pursuant to

Clause 32.4

(Replacement of Screen Rate),

the Borrower shall, within three (3) Business Days of demand:

reimburse the Agent for the amount of all costs and expenses

(including legal fees) reasonably incurred by the Agent in

responding to, evaluating, negotiating or complying with or

implementing that request, requirement or actual or

contemplated agreement; and

ii)

pay to the Agent (for the account of UK Export Finance) an

amount equal to all costs and expenses (including legal fees)

reasonably incurred by UK Export Finance in responding to,

evaluating, negotiating or complying with or implementing that

request, requirement or actual or contemplated agreement.

Clause16.3

Enforcement costs

The Borrower shall, within three (3) Business Days of demand, pay to the

Agent the amount of all costs and expenses (including legal fees) incurred

by the Agent, any Lender or UK Export Finance (for the account of the

Agent, the relevant Lender or UK Export Finance, as appropriate), in

connection with the enforcement of, or the preservation of any rights under,

any Finance Document.

Clause16.4

Agent's on-going costs

If:

a Default occurs;

the Agent reasonably considers it necessary or expedient; or

the Agent is requested by the Borrower or the Majority Lenders to

undertake duties which the Agent and the Borrower agree to be of

an exceptional nature or outside the scope of the normal duties of

the Agent,

the Borrower must pay to the Agent any additional remuneration which may

be agreed between them or, where the Borrower fails to agree any such

amount, as otherwise determined by the Agent (acting reasonably and in

good faith).

SECTION 7

REPRESENTATIONS, UNDERTAKINGS AND EVENTS OF DEFAULT

17.Čl. 17.1–17.30

REPRESENTATIONS

The Borrower makes the representations and warranties set out in this

Clause 17

to each Finance Party on the date of this Agreement and on the

Effective Date.

Clause17.1

Status

Each of the Borrower and the Buyer has the power to own its assets and

carry on its operations and activities as they are being conducted and to

bind the Republic of Serbia.

Clause17.2

Binding obligations

The obligations expressed to be assumed by each of the Borrower and the

Buyer in each Transaction Document are legal, valid, binding and

enforceable obligations (subject only, in the case of the Borrower, in relation

to the incurrence of indebtedness and the assumption of payment

obligations by the Borrower under this Agreement, to the publication of the

Official Gazette of the Republic of Serbia in which the law on ratification of

this Agreement by the National Assembly of the Republic of Serbia has

been published).

Clause17.3

Non-conflict with other obligations

The entry into and performance by each of the Borrower and the Buyer of,

and the transactions contemplated by, the Transaction Documents do not

and will not conflict with:

any Applicable Law;

the constitution of the Relevant Jurisdiction or the constitutional

documents of any of it and its government agencies; or

any agreement, mortgage, bond, judgment, arbitral award or other

instrument international agreement or treaty, including with the IMF

or any other international institution, to which it or its government

agencies are party or which is binding upon them or any of their

assets or constitute a default or termination event (howsoever

described) under any such agreement or instrument.

Clause17.4

Power and authority

Each of the Borrower and the Buyer has full power to enter into,

perform and deliver, and has taken all necessary actions to

authorise the entry into and performance and delivery of, the relevant Transaction Documents to which it is or will be a party and

the transactions contemplated by those Transaction Documents

(subject only, in the case of the Borrower, in relation to the

incurrence of indebtedness and the assumption of payment

obligations by the Borrower under this Agreement, to the publication

of the Official Gazette of the Republic of Serbia in which the law on

ratification of this Agreement by the National Assembly of the

Republic of Serbia has been published).

No limit on the powers of the Borrower will be exceeded as a result

of the borrowing or giving of guarantees or indemnities

contemplated by the Finance Documents to which it is a party

(including, for avoidance of doubt, the limit on public debt set in the

relevant annual budget law of the Republic of Serbia).

All Authorisations and acts which are required or advisable in

connection with the entry into, performance, legality, validity and

enforceability of, and the transactions contemplated by, the relevant

Transaction Documents have been obtained or performed (as

appropriate) and are in full force and effect.

It has the capacity to sue and be sued before any court and/or

arbitration tribunal which may be competent pursuant to the Finance

Documents.

Clause17.5

Validity and admissibility in evidence

All Authorisations and other acts, conditions and things required or

desirable:

to enable each of the Borrower and the Buyer lawfully to enter into,

exercise its rights and comply with its obligations in the Transaction

Documents to which it is a party;

to ensure that the obligations expressed to be assumed by each of

the Borrower and the Buyer in the Transaction Documents are legal

valid, binding and enforceable; and

to make the Transaction Documents to which each of the Borrower

and the Buyer is a party admissible in evidence in the Relevant

Jurisdiction (subject to such Transaction Document being translated

into Serbian language),

have been obtained or effected and are in full force and effect (other than,

in the case of the Borrower, in relation to the incurrence of indebtedness and the assumption of payment obligations by the Borrower under this

Agreement, to the publication of the Official Gazette of the Republic of

Serbia in which the law on ratification of this Agreement by the National

Assembly of the Republic of Serbia has been published).

Clause17.6

Governing law and enforcement

The choice of the law stated to be the governing law of each Finance

Document and all non-contractual obligations arising from or connected

with them will be recognised and enforced in its Relevant Jurisdiction.

Any judgment obtained in England in relation to a Finance Document will be

recognised and enforced in the Relevant Jurisdiction.

The agreement not to claim immunity in relation to a Finance Document to

which the Borrower or its assets may be entitled will be recognised and

enforced in the Relevant Jurisdiction.

The submission to arbitration as specified in the Finance Documents will be

recognised and enforced in the Relevant Jurisdiction.

Clause17.7

Deduction of Tax

Except for taxes imposed by way of withholding on interest paid to non-

residents of the jurisdiction of the Borrower, it is not required to make any

Tax Deduction for any payment it may make under the Finance Documents

and it is obliged to pay any additional amounts payable pursuant to Clause

12 (Tax Gross-Up and Indemnities).

Clause17.8

No filing or stamp taxes

Under the law of the Relevant Jurisdiction it is not necessary that the

Finance Documents be filed, recorded or enrolled with any court or other

authority in that jurisdiction or that any stamp, registration, notarial or similar

Taxes or fees be paid on or in relation to the Finance Documents or the

transactions contemplated by the Finance Documents, except that the

Borrower is obliged to:

report to the NBS:

(i)

this Agreement and any changes thereto;

(ii)

any changes to the Lenders; and

(iii)

each Utilisation and each repayment or prepayment under

this Agreement,

public debt records kept by the Public Debt Administration of the

Ministry of Finance of the Republic of Serbia.

Clause17.9

No Default

No Default is continuing or might reasonably be expected to result from the

making of any Utilisation or the entry into, the performance of, or any

transaction contemplated by, any Finance Document.

No other event or circumstance is outstanding which constitutes (or, with

the expiry of a grace period, the giving of notice, the making of any

determination or any combination of any of the foregoing, would constitute)

a default or termination event (however described) under any other

agreement or instrument which is binding on it or to which its assets are

subject which has or might have a Material Adverse Effect.

Clause17.10

No misleading information

All factual information provided by or on behalf of it (including by its

advisers) to a Finance Party in relation to the Facility was true, complete

and accurate in all material respects as at the date it was provided and is

not misleading in any respect.

Nothing has occurred or been omitted and no information has been given or

withheld that results in the information provided by or on behalf of the

Borrower or any of its government agencies (including by their advisers)

being untrue or misleading in any material respect.

Clause17.11

Financial position

There has been no material adverse change in the Borrower's or the

Buyer's economic condition since the date of this Agreement.

Any budgets and forecasts supplied under this Agreement were arrived at

after careful consideration and have been prepared in good faith on the

basis of recent historical information and on the basis of assumptions which

were reasonable as at the date they were prepared and supplied.

Clause17.12

Pari passu ranking

Its payment obligations under the Finance Documents rank at least pari

passu with the claims of all its other unsecured and unsubordinated

creditors in respect of External Financial Indebtedness, save for such

obligations as may be preferred by provisions of law that are of mandatory

application at the date hereof and, in the case of the Borrower, will be

payable out of the public revenues and other assets of the Borrower.

Clause17.13

No proceedings pending or threatened

No litigation, arbitration or administrative proceedings or investigations of,

or before any court, arbitral body or agency which, if adversely determined,

might reasonably be expected to have a Material Adverse Effect has or

have (to the best of its knowledge and belief) been started or threatened

against it and its government agencies.

No judgment or order of a court, arbitral tribunal or other tribunal or any

order or sanctions of any governmental or other regulatory body which is

reasonably likely to have a Material Adverse Effect has (to the best of its

knowledge and belief (having made due and careful enquiry)) been made

against it and its government agencies or the Buyer.

Clause17.14

No breach of laws

It has not breached any law or regulation which breach has or is reasonably

likely to have a Material Adverse Effect.

Clause17.15

Environmental laws and standards

No E&S Trigger Events have occurred and are continuing.

As far as it is aware (having made all reasonable enquiries), it has not

omitted to provide UK Export Finance with any information in its possession

relating to the Environment which, had it been provided, would have

resulted in any environmental and/or social report investigation, audit or

assessment being materially inaccurate or incomplete, and all information

provided to UK Export Finance is, to the best of its knowledge (having

made all reasonable enquiries), correct and up-to-date.

No E&S Claims have been commenced and are continuing, and having

made all reasonable enquiries, it is not aware of the threat of any E&S

Claims with the exception, in either case, of any which are frivolous or

vexatious and which it reasonably believes will be discharged, stayed,

rejected or dismissed within sixty (60) days of commencement.

No E&S Investigations are being conducted or are pending.

Clause17.16

Anti-corruption law

Each of the Borrower and the Buyer is in compliance with applicable Anti-

Corruption Laws and has instituted and maintains as at the date of this

Agreement and as at the Effective Date policies and procedures designed

to promote and achieve compliance with such laws.

None of:

(i)

the Borrower or the Buyer, (nor, to the best of their knowledge and

belief (having made due and careful enquiry), any agent, director,

employee or officer of any of the Borrower or the Buyer), nor

ii)

(in any capacity in connection with the financing of the Project or in

connection with the Export Contract,) any of the Borrower's

government agencies, (nor, to the best of their knowledge and belief

(having made due and careful enquiry), any agent, director,

employee or officer of any of the Borrower's government agencies),

has made or received, or directed or authorised any other person to make

or receive, any offer, payment or promise to pay, of any money, gift or other

thing of value, directly or indirectly, to or for the use or benefit of any

person, where this violates or would violate, or creates or would create

liability for it or any other person under, any Anti-Corruption Laws.

None of:

(i)

the Borrower or the Buyer, (nor to the best of their knowledge and

belief (having made due and careful enquiry), any agent, director,

employee or officer of any of the Borrower or the Buyer), nor

ii)

(in any capacity in connection with the financing of the Project or in

connection with the Export Contract) any of the Borrower's

government agencies (nor to the best of their knowledge and belief

(having made due and careful enquiry) any agent, director,

employee or officer of any of the Borrower's government agencies)

is being investigated by any agency, or party to any proceedings, in each

case in relation to any Anti-Corruption Laws.

Clause17.17

Sanctions Laws and Regulations

Save as disclosed in writing to UK Export Finance and to the Agent prior to

the date of this Agreement (in form and substance satisfactory to UK Export

Finance and the Agent), none of the Borrower or the Buyer, nor to the best

of their knowledge and belief (having made due and careful enquiry), no

minister, director, officer, employee or agent of the Borrower or the Buyer

that will act in any capacity in connection with or benefit from the credit

facility established by this Agreement, is a Sanctioned Person.

No Utilisation, use of proceeds or other transaction contemplated by this

Agreement will violate any applicable Sanctions Laws and Regulations.

The foregoing representations this above

will not apply to any party hereto to which (i) Council Regulation (EC) 2271/96 (or any law or regulation implementing such Regulation in any

member state of the European Union) or (ii) any similar law or regulation in

the United Kingdom (the "Blocking Law") applies, if and to the extent that

such representations are or would be unenforceable by or in respect of that

party pursuant to, or would otherwise result in a breach and/or violation of

any provision of, the Blocking Law.

Clause17.18

External Financial Indebtedness

None of its External Financial Indebtedness is secured by any Security or

Quasi-Security on or with respect to the Public Assets other than as

permitted by this Agreement.

Clause17.19

Good title to assets

Each of the Borrower and the Buyer has a good, valid and marketable title

to, or valid leases or licences of, and all appropriate Authorisations to use,

the assets necessary to carry on the Project.

Clause17.20

No Immunity

In any proceedings taken in the Relevant Jurisdiction in relation to Finance

Documents, it will not be entitled to claim for itself or any of its assets

immunity from suit or other legal process, except for immunity from

enforcement in respect of any present or future:

"premises of the mission" as such term is defined in the Vienna

Convention on Diplomatic Relations of 1961;

"consular premises" as such term is defined in the Vienna

Convention on Consular Relations of 1963;

assets that cannot be in commerce;

military property or military assets and buildings, weapons or

equipment designated for defence, state and public security;

receivables the assignment of which is restricted by law;

natural resources, common use items, grids in public ownership,

river basin land and water facilities in public ownership, protected

natural heritage in public ownership and cultural heritage in public

ownership;

real estate in public ownership which is, partly or entirely, used by

the authorities of the Republic of Serbia, autonomous provinces or

local self-government for the purpose of exercising their rights and

duties;

the state's, autonomous province's or local government's stocks and

shares in companies and public enterprises, unless the relevant

entity consented to the establishment of a pledge over such stocks

or shares; or

movable or immovable assets of health institutions, unless a

mortgage was established based on the Government's decision,

the assets listed in paragraphs (a) – (i) above (inclusive) being "Excluded

Assets".

Clause17.21

Private and commercial acts

Each of the Borrower's and the Buyer's execution of the Transaction

Documents to which it is a party constitutes, and its exercise of its rights

and performance of its obligations under those Transaction Documents will

constitute, private and commercial acts done and performed for private and

commercial purposes.

Clause17.22

IMF

It is a member in good standing and eligible to use the resources of the IMF

and the IBRD and is able to draw or make use of funds available to it under

any IMF or IBRD funding programme and no such programme has been

cancelled or suspended.

Clause17.23

Exchange controls

Under the laws of the Relevant Jurisdiction, all payments to be made under

the Finance Documents may be freely transferred out of the Relevant

Jurisdiction and may be paid in, or freely converted into, the Facility

Currency.

The Borrower has obtained all foreign exchange control approvals or such

other Authorisations as are required to assure the availability of the Facility

Currency to enable the Borrower to perform all of its obligations under the

Finance Document to which it is a party.

There are no restrictions or requirements currently in effect that limit the

availability or transfer of foreign exchange which would restrict the ability of

the Borrower to perform its obligations under any Finance Document.

Clause17.24

Public procurement rules

All public procurement rules in the Relevant Jurisdictions which are

applicable to the entry into and the exercise of its rights and performance of

each of the Borrower's and the Buyer's obligations under the Transaction

Documents to which it is a party have been complied with.

Clause17.25

Budget and limits

The funds necessary for the payment of all of the obligations of the

Borrower under the Finance Documents have been provided for under the

Law Approving the Budget of the Republic of Serbia for that year, (which for

the year 2025 is Zakon o budžetu Republike Srbije za 2025. godinu, Official

Gazette of the Republic of Serbia, no. 94/2024).

Its borrowings and guarantees are within any limits (if any) set by the IMF,

the World Bank and applicable international treaties.

Clause17.26

Reserves

The Republic of Serbia and the NBS have full ownership, power, control

and authority to use the Reserves. The Borrower has fully disposable to it

part of the available Reserves for the satisfaction and discharge of its

obligations under the Finance Documents and does not require any licence

or any other Authorisation of any person or Government Entity or other

agency to use such part of the Reserves. The Republic of Serbia is the

beneficial owner of the Reserves. The NBS is the central bank and

monetary authority of the Republic of Serbia that is empowered to hold and

manage the Reserves, including the part of the Reserves that is fully

disposable by the Borrower, in a manner that contributes to the due

performance of the Republic of Serbia's foreign debt obligations, which will

include the obligations under the Finance Documents.

Clause17.27

No additional export credit financing

Other than for the purposes of replacing or refinancing any Financial

Indebtedness extended and/or outstanding under the Finance Documents

in whole (and not in part), the Borrower has not incurred any other Financial

Indebtedness extended by or on behalf of (or guaranteed or insured by or

on behalf of) any other export credit agency in respect of the Project or any

amount paid or payable by the Buyer under or in relation the Export

Contract other than Financial Indebtedness (a) in relation to the Export

Contract guaranteed by the Multilateral Investment Guarantee Agency or

otherwise consented to in accordance with

Clause 19.14

(Consent to

additional Financial Indebtedness in respect of further export credit

financing).

Clause17.28

Licences

It is not necessary under the laws of the Relevant Jurisdiction:

(i)

in order to enable any Finance Party to enforce its rights under any

Finance Document; or

ii)

by reason of the execution of any Finance Document or the

performance by it of its obligations under any Finance Document,

that any Finance Party or UK Export Finance should be licensed, qualified

or otherwise entitled to carry on business in any of its Relevant

Jurisdictions.

No Finance Party is or will be deemed to be resident, domiciled or carrying

on business in its Relevant Jurisdictions by reason only of the execution,

performance and/or enforcement of any Finance Document.

Clause17.29

Moratorium

No moratorium has been declared or has de facto come into effect on the

payment of any of its External Financial Indebtedness and it has not

commenced negotiations with any one or more of its External Financial

Indebtedness creditors with a view to the general readjustment or

rescheduling of its indebtedness.

Clause17.30

Repetition

The Repeating Representations are deemed to be made by the Borrower

by reference to the facts and circumstances then existing on the date of

each Utilisation Request and each Interest Payment Date.

18.Čl. 18.1–18.6

INFORMATION UNDERTAKINGS

The undertakings in this

Clause 18

remain in force from the date of this

Agreement for so long as any amount is outstanding under the Finance

Documents or any Commitment is in force.

Clause18.1

Financial documents

The Borrower shall deliver to the Agent in a form acceptable to the Agent (in

sufficient copies for all the Lenders) as soon as the same become

available, but in any event within one hundred and eighty (180) days after

the end of each of its financial years the law approving the budget of the

Republic of Serbia (Zakon o budžetu Republike Srbije) for that calendar

year.

Clause18.2

Information: miscellaneous

The Borrower shall supply to the Agent (in sufficient copies for all the

Lenders and UK Export Finance, if the Agent so requests):

all documents dispatched by the Borrower to its External Financial

Indebtedness creditors generally at the same time as they are

dispatched;

promptly upon becoming aware of them, the details of any litigation,

arbitration or administrative proceedings which are current,

threatened or pending against the Borrower, and which might, if

adversely determined, have a Material Adverse Effect;

promptly such other financial, statistical and general information

regarding the financial condition, assets, functions and operations

about the Borrower as the Agent may reasonably request, including

any requested amplification or explanation or projections or any

requested amplification or explanation of other material provided by

the Borrower under this Agreement;

promptly a copy of any changes to:

(i)

the constitutional documents of the Borrower that effect the

status of it; and

ii)

Public Debt Act (Zakon o javnom dugu, Official Gazette of the

Republic of Serbia nos. 61/2005, 107/2009, 78/2011,

68/2015, 95/2018, 91/2019 and 149/2020), the Budget

System Act (Zakon o budžetskom sistemu, Official Gazette of

the Republic of Serbia nos. 54/2009, 73/2010, 101/2010,

101/2011, 93/2012, 62/2013, 63/2013, 108/2013, 142/2014,

68/2015, 103/2015, 99/2016, 113/2017, 5/2018, 31/2019,

72/2019, 149/2020, and 94/2024) and the Morava Corridor

Law.

Clause18.3

Notification of default

The Borrower shall notify the Agent of any Default (and the steps, if any,

being taken to remedy it) promptly upon becoming aware of its occurrence.

Promptly upon a request by the Agent, the Borrower shall supply to the

Agent a certificate signed by the Borrower's signatory on its behalf certifying

that no Default is continuing (or if a Default is continuing, specifying the

Default and the steps, if any, being taken to remedy it).

Clause18.4

Direct electronic delivery by the Borrower

The Borrower may satisfy its obligation under this Agreement to deliver any

information in relation to a Lender by delivering that information directly to

that Lender in accordance with

(Electronic communication) to

the extent that Lender and the Agent agree to this method of delivery.

Clause18.5

"Know your customer" checks

If:

(i)

the introduction of or any change in (or in the interpretation,

administration or application of) any law or regulation made after the

date of this Agreement;

ii)

a change in UK Export Finance's internal financial crimes

compliance policies;

iii)

any change in the status of the Borrower after the date of this

Agreement; or

iv)

a proposed assignment or transfer by a Lender of any of its rights or

obligations under this Agreement to a party that is not a Lender prior

to such assignment or transfer,

obliges the Agent or UK Export Finance or any Lender (or, in the case of

paragraph (iv) above, any prospective new Lender) to comply with "know

your customer" or similar identification procedures in circumstances where

the necessary information is not already available to it, the Borrower shall

promptly upon the request of the Agent, UK Export Finance or any Lender

supply, or procure the supply of, such documentation and other evidence as

is reasonably requested by the Agent (for itself or on behalf of any Lender

or UK Export Finance) or UK Export Finance or any Lender (for itself or, in

the case of the event described in paragraph (iv) above, on behalf of any

prospective new Lender or UK Export Finance) in order for the Agent, or UK

Export Finance, such existing Lender or, in the case of the event described

in paragraph (iv) above, any prospective new Lender to carry out and be

satisfied it has complied with all necessary "know your customer" or other

similar checks under all applicable laws or regulations and/or as required

under UK Export Finance's internal practices and procedures pursuant to

the transactions contemplated in the Finance Documents.

Each Lender shall promptly upon the request of the Agent supply, or

procure the supply of, such documentation and other evidence as is

reasonably requested by the Agent in order for the Agent to carry out and

be satisfied it has complied with all necessary "know your customer" or

other similar checks under all applicable laws or regulations pursuant to the

transactions contemplated in the Finance Documents.

The Borrower will (not more than once in every financial year unless the

Agent reasonably suspects a Default is continuing or may occur) permit the

Agent and/or accountants or other professional advisers and contractors of the Agent free access at all reasonable times and on reasonable notice at

the risk and cost of the Borrower to premises of relevant public offices and

to meet with the necessary public officials so as to discuss and monitor the

implementation and administration of the Finance Documents, the Export

Contract and the parties' performance thereunder, including by procuring

any necessary visas and ensuring security arrangements for the

representatives of the Agent.

Clause18.6

Notifications relating to the Export Contract

The Borrower shall promptly notify the Agent if it becomes aware that:

a Material Export Contract Change has been made without the prior

written consent of the Agent or is proposed to be made;

a termination or suspension lasting ten (10) days or more has

occurred under the Export Contract; or

any disputes or the commencement of arbitration or other legal

proceedings in connection with the Export Contract have occurred.

19.Čl. 19.1–19.14

GENERAL UNDERTAKINGS

The undertakings in this

Clause 19

remain in force from the date of this

Agreement for so long as any amount is outstanding under the Finance

Documents or any Commitment is in force.

Clause19.1

Authorisations

The Borrower must (and shall ensure that, in respect of paragraph (a)

below, the Buyer will):

maintain, comply with and perform all other acts, conditions and

things required or desirable to maintain in full force and effect and

(where applicable, and in such case as soon as practicable) obtain

any Authorisation required under any Applicable Law

in order to enable it to lawfully enter into, exercise its rights,

perform its obligations under, or for the legality, validity,

enforceability or admissibility in evidence of the Transaction

Documents (and supply certified copies to the Agent thereof)

including, in respect of the Borrower only, any necessary

Authorisation, if one is required, to ensure that the Borrower

may fully dispose of any Reserves in order to perform its

obligations under the Finance Documents; and

ii)

to ensure that the obligations expressed to be assumed by

the Borrower in the Finance Documents are legal, valid,

binding and enforceable,

ensure that all amounts which are scheduled to fall due under the

Transaction Documents in each calendar year are included in the

law approving the budget of the Republic of Serbia (Zakon o

budžetu Republike Srbije) for that calendar year.

Clause19.2

Compliance with laws

The Borrower shall (and shall ensure that the Buyer will) comply in

all respects with the Applicable Law, if failure so to comply would

materially impair the Borrower's ability to perform its obligations

under the Finance Documents.

The Borrower will (and shall ensure that the Buyer will) maintain in

effect and enforce policies and procedures designed to ensure

compliance by the Borrower, the Buyer, their Subsidiaries and their

respective directors, officers, employees and agents with Anti-

Corruption Laws.

Clause19.3

IMF

The Borrower shall fulfil its obligations as a member of the IMF and IBRD

(or any successor of the IMF or IBRD) at all times.

Clause19.4

Negative pledge

In this

Clause 19.4

, "Quasi-Security" means an arrangement or

transaction described in paragraph (d) below.

The Borrower shall not, and shall ensure that each of its government

agencies shall not, create or permit to subsist any Security over

Public Assets, owned or subsequently acquired, securing the

payment of the Borrower's External Financial Indebtedness, unless

at the same time or prior thereto, it or its agencies (as applicable)

secure the Loans equally and rateably with such Security or provide

such other arrangement (whether or not comprising Security) as is

satisfactory to the Agent.

The Borrower shall ensure that neither it nor the Buyer nor any of its

government agencies will:

create or permit to subsist any Security or Quasi-Security

over any assets comprised within the Project or any of the

Buyer's rights under the Export Contract; or

ii)

sell, transfer or otherwise dispose of any assets comprised

within the Project or any of the Buyer's rights under the

Export Contract.

The Borrower shall ensure that neither it nor any of its government

agencies will:

sell, transfer or otherwise dispose of any of its assets on

terms whereby they are or may be leased to or re-acquired by

the Borrower or its government agencies;

ii)

sell, transfer or otherwise dispose of any of its receivables on

recourse terms;

iii)

enter into any arrangement under which money or the benefit

of a bank or other account may be applied, set-off or made

subject to a combination of accounts; or

iv)

enter into any other preferential arrangement having a similar

effect,

in circumstances where the arrangement or transaction is entered

into primarily as a method of raising External Financial

Indebtedness.

Paragraphs (a) and (c) above do not apply to any Security or (as the

case may be) Quasi-Security, listed below:

any netting or set-off arrangement entered into by the

Borrower or any of its government agencies in the ordinary

course of its banking arrangements for the purpose of netting

debit and credit balances;

ii)

any payment or close out netting or set-off arrangement

pursuant to any hedging transaction entered into by the

Borrower and its government agencies for the purpose of:

(A) hedging any risk to which any government agencies

are exposed in their ordinary course of trading; or

(B) its interest rate or currency management operations

which are carried out in the ordinary course of

business and for non-speculative purposes only,

excluding, in each case, any Security or Quasi-Security under

a credit support arrangement in relation to a hedging

transaction;

iii)

any lien arising by operation of law;

iv)

any Security or Quasi Security upon property incurred solely

for the purpose of financing the acquisition or construction of

such property;

any Security or Quasi Security existing on property at the time

of its acquisition;

vi)

any renewal or extension of any Security or Quasi Security of

the kind described in paragraphs (i) to (v) above, provided

that the principal amount of the External Financial

Indebtedness secured is not increased and such renewal or

extension is limited to the original property covered thereby;

and

vii)

in addition to the Security or Quasi Security described in

paragraphs (i) to (vi) above, Security over Public Assets in

any calendar year having a market value of EUR 1,000,000

or its equivalent in other currencies.

Clause19.5

Disposals

The Borrower shall not transfer or permit the transfer of any Public Assets

to any separate agency, Government Entity or other legal entity controlled

directly or indirectly by the Borrower or any of its agencies (i) for the

purpose of avoiding the negative pledge in

Clause 19.4

(Negative Pledge)

or (ii) if the transfer would impair its ability, or the Buyer's ability, to perform

their obligations under the Transaction Documents, other than:

disposals in the ordinary course of trading;

disposals of assets (otherwise than in the ordinary course of

business) for full cash consideration, provided that such disposal

does not relate to or affect any assets comprised within the Project

or any of the Buyer's rights under the Export Contract;

disposals of assets in exchange for other assets comparable or

superior as to type, value or quality;

disposals of cash raised or borrowed for the purpose for which it

was raised or borrowed;

disposals with the prior written consent of the Agent; and

any other disposal for full value of an asset unless such disposal

might (in the opinion of the Majority Lenders) have a Material

Adverse Effect.

Clause19.6

Environmental undertakings (a) E&S Self-Monitoring Reports

The Borrower shall, or shall procure that the Buyer or the Exporter

will, provide a report to UK Export Finance in a form and substance

acceptable to UK Export Finance at the times set out in paragraph

ii)

or (iii) below, containing the following:

(A) a statement that (and details of how):

(in respect of the first E&S Self-Monitoring Report) all E&S Obligations (including obligations of the Borrower and/or the Buyer) have been fulfilled since the date of this Agreement; and

(2)

(in respect of each subsequent E&S Self-Monitoring Report) all E&S Obligations (including obligations of the Borrower and/or the Buyer) in the period since the most recent E&S Self-Monitoring Report have been fulfilled,

or, if it is not able to make such a statement, a disclosure of

the E&S Obligations that have not been fulfilled providing full

details of such occurrence and any planned mitigation;

(B) details of any E&S Investigations or E&S Claims subsisting at

that time; and

the Project.

ii)

Unless an E&S Trigger Event has occurred and is continuing, the

Borrower shall, or shall procure that the Buyer will, provide an E&S

Self-Monitoring Report within twenty (20) Business Days of the end

of:

(A) each three (3) month period during the Construction Phase;

and

(B) each twelve (12) month period from the commencement of

the Operations Phase.

iii)

If an E&S Trigger Event has occurred and is continuing, UK Export

Finance may require the Borrower to, or to procure that the Buyer provide E&S Self-Monitoring Reports on the corrective actions being

taken in respect of that E&S Trigger Event upon request or at such

intervals as it may require.

Information regarding E&S Investigations or E&S Claims

The Borrower shall, and shall procure that the Buyer will, as soon as

practicable and in any case no later than ten (10) Business Days after the

receipt by or on behalf of the Borrower or the Buyer of any notice of or (ii)

becoming aware of:

any E&S Investigation; or

ii)

any E&S Claim,

notify UK Export Finance of such notice or of becoming so aware and

provide full written details of such E&S Investigation or E&S Claim to UK

Export Finance.

E&S Incidents

If an E&S Incident occurs, the Borrower shall, or shall procure that the

Buyer will:

take, or procure the taking of, all such actions and measures

required to immediately address the adverse impacts of that E&S

Incident; and

ii)

as soon as possible, but in any event no later than five (5) Business

Days following the date of its occurrence, notify UK Export Finance

of its occurrence and provide full written details of it to UK Export

Finance.

E&S Trigger Events

(i)

Upon UK Export Finance being notified of the occurrence of an E&S

Trigger Event or determining that an E&S Trigger Event has

occurred, in consultation with the Borrower, it may:

(A) determine that the E&S Trigger Event can be remedied by the

Borrower and/or the Buyer pursuant to the relevant E&S

Management Plan and that the Borrower and/or the Buyer

shall provide progress reports to UK Export Finance in the

E&S Self-Monitoring Reports in accordance with paragraph

(E&S Self-Monitoring Reports) of

(Environmental undertakings);

(B) require the Borrower and/or Buyer to produce a Corrective

Action Plan, in which case the Borrower and/or the Buyer (as

applicable) shall, as soon as practicable following such

request but in any event within fifteen (15) Business Days of

such request, provide a draft Corrective Action Plan for that

E&S Trigger Event to UK Export Finance for its acceptance;

the E&S Trigger Event; or

(D) declare that such E&S Trigger Event is incapable of remedy.

ii)

An E&S Trigger Event will be deemed incapable of remedy to the

extent that UK Export Finance notifies the Borrower that: (i) the E&S

Trigger Event is incapable of remedy in accordance with paragraph

(i)(D) above; or (ii) the draft Corrective Action Plan has not been

accepted within six (6) months of the request in accordance with the

provisions of this paragraph (d) (E&S Trigger Events).

iii)

Following a request by UK Export Finance to provide a draft

Corrective Action Plan in accordance with paragraph (i)(B) above

and pending acceptance by UK Export Finance of any draft

Corrective Action Plan, the Borrower shall, or shall procure that the

Buyer will, take or procure the taking of all such actions and

measures to immediately address the adverse impacts of the

relevant E&S Trigger Event, including such actions or measures as

are required by any draft Corrective Action Plan in accordance with

the timescales set out in that draft Corrective Action Plan.

iv)

If UK Export Finance does not accept the draft Corrective Action

Plan pursuant to paragraph (i)(B) above:

(A) UK Export Finance shall indicate to the Borrower in which

areas the draft plan is deficient and the time period within

which a revised draft Corrective Action Plan shall be re-

submitted to UK Export Finance for its acceptance; and

(B) the Borrower or the Buyer (as the case may be) shall submit

a revised draft Corrective Action Plan after consulting with

and taking any views of UK Export Finance fully into account.

If UK Export Finance does not accept the revised draft Corrective

Action Plan submitted pursuant to paragraph (iv)(B) above, UK

Export Finance and the Borrower or the Buyer (as the case may be) shall repeat the process set out in paragraph (iv) above until such

time as a revised draft Corrective Action Plan is accepted by UK

Export Finance.

vi)

A draft Corrective Action Plan shall be deemed to have been

accepted by UK Export Finance thirty (30) Business Days after its

submission unless UK Export Finance advises the Borrower

otherwise.

vii)

After acceptance of the Corrective Action Plan, the Borrower shall,

or shall procure that the Buyer will, take or procure the taking of all

such actions and measures as are required by the Corrective Action

Plan in accordance with the timescales set out therein.

viii)

Every three (3) months from the date on which a Corrective Action

Plan is accepted, the Borrower shall, or shall procure that the Buyer

will, provide UK Export Finance with a supplemental E&S Self-

Monitoring Report on the implementation of that Corrective Action

Plan, and shall provide a final report to UK Export Finance on

completion of the Corrective Action Plan, each such report to be in a

form and substance acceptable to UK Export Finance.

ix)

To the extent that an E&S Trigger Event is not remedied within the

timescales set out in the relevant Corrective Action Plan or in line

with the E&S Management Plan, UK Export Finance may require the

Borrower to produce a new Corrective Action Plan or take any other

corrective measure in accordance with the procedures set out in

paragraph (d)(i) (E&S Trigger Events) above.

Site visits

(i)

The Borrower shall, or shall procure that the Buyer will, at the

request of UK Export Finance, ensure access to the Project and

arrange for a site visit by UK Export Finance or its nominated

representative or the IESC(s):

(A) at any time while a Corrective Action Plan is in place or when

a Default has occurred and is continuing; and (B) for the purpose of monitoring the performance of the E&S

Obligations (other than compliance with a Corrective Action

Plan),

in the case of UK Export Finance or its nominated

representative at least once in each twelve (12) month

period; and

in the case of the IESC(s), at least every 3 months

during the Construction Phase and 6 months during

the Operations Phase for a period until the later of (i)

twenty-four (24) months after the beginning of the

Operations Phase or (ii) twelve (12) months following

completion of the Offset Programme as defined in the

Biodiversity Offset Management Plan (BOMP) to

compensate for residual biodiversity impacts and

achieve a no net loss for Natural Habitat and net gain

for Critical Habitat, whichever is the later. Completion

of the Offset Programme shall be defined as the

Completion Date or Milestone set out in the BOMP

approved by the Lenders/IESC(s) (as referred to in

Action 17 of the ESAP).

ii)

The Borrower shall ensure that UK Export Finance or its nominated

representative and the IESC(s) are promptly and duly informed

regarding, and have the right to attend, any multi-stakeholder

meeting or focus groups or other meetings which form any part of

the Borrower and/or Buyer's public consultation process in relation

to the Project.

iii)

The agenda, scope and (subject to paragraph (i) above) timing of

any site visits shall be determined by UK Export Finance or its

nominated representative or the IESC(s) following consultation with

the Borrower.

iv)

The Borrower shall pay all reasonable costs and expenses of UK

Export Finance and/or its nominated representatives in relation to

each site visit. To the extent that UK Export Finance or its nominated

representative itself was required directly to pay any costs or

expenses then the Borrower shall, within seven (7) Business Days

of written demand, reimburse UK Export Finance and/or its

nominated representative any such amounts incurred.

To the extent reasonably practicable, in advance of any visit to be

made by UK Export Finance, its nominated representative, or the

IESC(s):

(A) UK Export Finance, its nominated representative, or the

IESC(s) shall provide the Borrower with written details of

those matters that UK Export Finance, its nominated

representative, or the IESC(s) wish to address during the

proposed visit in order to assist the Borrower in arranging the

visit; and

(B) the Borrower shall provide UK Export Finance, its nominated

representative, or the IESC(s) with such up to date

information relating to those matters as UK Export Finance or

its nominated representative, or the IESC(s) may request.

vi)

Following any visit made by UK Export Finance or its nominated

representative, or the IESC(s), the Borrower shall provide such

follow up reports or information as UK Export Finance or its

nominated representative, or the IESC(s) shall request.

Operations Phase E&S Management Plan

(i)

The Borrower shall, or shall procure that the Buyer will, at least six

(6)

months before the start of the Operations Phase, provide UK

Export Finance with the draft Operations Phase E&S Management

Plan prepared for the UKEF-Supported Facility Agreement 2021.

ii)

UK Export Finance shall notify the Borrower within one (1) month of

receipt whether the draft Operations Phase E&S Management Plan

is accepted.

iii)

If UK Export Finance does not accept the draft Operations Phase

E&S Management Plan submitted pursuant to paragraph (ii) above:

(A) UK Export Finance shall indicate to the Borrower in which

areas the draft Operations Phase E&S Management Plan is

deficient and the period within which a revised draft

Operations Phase E&S Management Plan shall be

resubmitted to UK Export Finance; and

(B) the Borrower or the Buyer (as the case may be) shall submit

a revised draft Operations Phase E&S Management Plan

after consulting with and taking any views of UK Export

Finance fully into account.

iv)

If UK Export Finance does not accept the revised draft Operations

Phase E&S Management Plan submitted pursuant to paragraph

(iii)(B) above UK Export Finance and the Borrower or the Buyer (as

the case may be) shall repeat the process set out in paragraph (iii)

above until such time as a revised draft Operations Phase E&S

Management Plan is accepted.

A draft Operations Phase E&S Management Plan shall be deemed

to have been accepted by UK Export Finance thirty (30) Business

Days after its submission unless UK Export Finance advises the

Borrower otherwise.

IESC(s)

To the extent that the Borrower or the Buyer has failed to pay any amounts

due and payable by it to the IESC(s) and any such amounts are then paid

on behalf of the Borrower by UK Export Finance, the Borrower shall

reimburse UK Export Finance an amount equal to the amounts paid by UK

Export Finance within ten (10) days of being notified by UK Export Finance

that it has made such payment.

Clause19.7

Anti-corruption law

The Borrower shall, and shall procure that the Buyer shall:

comply with and conduct its functions and operations in compliance

with applicable Anti-Corruption Laws; and

not directly or indirectly use the proceeds of the Facility for any

purpose which would breach the Bribery Act 2010, the United States

Foreign Corrupt Practices Act of 1977 or other similar legislation in

other jurisdictions;

maintain policies and procedures designed to promote and achieve

compliance with Anti-Corruption Laws;

not request any Loan, and shall not use, and shall procure that its

officers, employees and agents shall not use, the proceeds of any

Loan in furtherance of an offer, payment, promise to pay, or

authorisation of the payment or giving of money, or anything else of

value, to any person in violation of any Anti-Corruption Laws; and

not directly or indirectly, authorise, offer, promise, or make payments

of anything of value, including but not limited to cash, cheques, wire

transfers, tangible and intangible gifts, favours, services, and those entertainment and travel expenses that go beyond what is

reasonable and customary and of modest value to:

an executive, official, employee or agent of a governmental

department, agency or instrumentality,

ii)

a director, officer, employee or agent of a wholly or partially

government-owned or controlled company or business,

iii)

a political party or official thereof, or candidate for political

office,

iv)

a Foreign Public Official, or

any other person; while knowing or having a reasonable

belief that all or some portion will be used for any the purpose

of:

(A) influencing any act, decision or failure to act by any

such person in his or her official capacity,

(B) inducing any such person to use his or her influence

with a government or instrumentality to affect any act

or decision of such government or entity, or

securing an unlawful advantage; in order to obtain, retain or direct

business.

Clause19.8

Sanctions Laws and Regulations

The Borrower will not request any Utilisation, and the Borrower shall

not use, and shall procure that the Buyer and its or their respective

ministers, directors, officers, employees and agents shall not use,

the proceeds of any Utilisation (A) for the purpose of funding,

financing or facilitating any activities, business or transaction of or

with any Sanctioned Person, or in any Sanctioned Country, except

to the extent permitted for a Person required to comply with

Sanctions Laws and Regulations, or (B) in any manner that would

result in the violation of any Sanctions Laws and Regulations

applicable to any party.

The foregoing undertaking in

Clause 19.8(a)

will not apply to any

party hereto to which (i) the Blocking Law applies, if and to the

extent that such undertakings are or would be unenforceable by or

in respect of that party pursuant to, or would otherwise result in a

breach and/or violation of any provision of, the Blocking Law.

Clause19.9

Insurance

The Borrower shall:

procure that any goods and/or services to be supplied under the

Export Contract will be insured to the satisfaction of the Agent

against the risk of loss or damage in accordance with normal

commercial practice for similar contracts until final acceptance of

those goods and/or services under the Export Contract; and

produce to the Agent (from time to time at the Agent's request)

evidence that such insurance has been effected and maintained.

Clause19.10

Pari passu ranking

The Borrower shall ensure that at all times all its unsecured and

unsubordinated obligations to the Finance Parties (or any of them) against

it under the Finance Documents rank at least pari passu with its obligations

to all of its other unsecured and unsubordinated creditors save for such

obligations as may be preferred by provisions of law that are of mandatory

application at the date hereof and, in the case of the Borrower, will be

payable out of the public revenues and other assets of the Borrower.

Clause19.11

Filing and reporting requirements

The Borrower shall register, promptly after the Initial Utilisation, the relevant

details of this Agreement in the public debt records kept by the Public Debt

Administration of the Ministry of Finance of the Republic of Serbia

The Borrower shall comply with all of its reporting obligations to the NBS in

connection with this Agreement pursuant to the Foreign Exchange Act

(Zakon o deviznom poslovanju, Official Gazette of the Republic of Serbia

nos. 62/2006, 31/2011, 119/2012, 139/2014 and 30/2018) and its

implementing regulations, or any other legislation or regulation that may

amend, supplement or replace the foregoing.

Clause19.12

Budget and limits

The Borrower shall include all amounts due and payable or that will fall due

and payable to the Finance Parties under the Finance Documents during a

calendar year in its yearly finance law and its budget statements or other

financial plans for that calendar year and shall ensure that there will at no

time be any restriction on the ability of the Borrower to meet its obligations

under the Finance Documents.

The Borrower shall maintain the funds necessary for the repayment of all of

its obligations under the Finance Documents that have been provided for under the law approving the budget of the Repulic of Serbia (Zakon o

budžetu Republike Srbije).

The Borrower shall ensure that, at all times, its borrowings and guarantees

remain within any limit set by the IMF, the World Bank and the applicable

international treaties.

Clause19.13

Compliance with Export Contract

The Borrower shall (and shall ensure that the Buyer will):

comply in all material respects with its obligations under, and in the

manner and at the times provided in the Export Contract; and

not repudiate or evidence an intention to repudiate the Export

Contract nor take nor omit to take any action that might result in any

default on any of its payment or other material obligations under the

Export Contract.

Clause19.14

Consent to additional Financial Indebtedness in respect of further export credit financing for the Project

Subject to paragraph (b) below, prior to incurring any additional

Financial Indebtedness extended by or on behalf of (or guaranteed

or insured by or on behalf of) any other export credit agency (other

than UK Export Finance) in respect of the Project or any amount

paid or payable by the Buyer under or in relation the Export

Contract, the Borrower will provide to the Agent in form and

substance satisfactory to it, evidence that the down payment

requirement under the Organisation for Economic Cooperation and

Development Arrangement on Officially Supported Export Credits

(known as the OECD Arrangement) will be met.

Paragraph (a) above shall not apply:

(i)

where the Borrower is seeking such further financing for the

purposes of replacing or refinancing any Financial

Indebtedness extended and/or outstanding under the Finance

Documents in whole (and not in part), and

ii)

in respect of Financial Indebtedness in relation to the Export

Contract guaranteed by the Multilateral Investment

Guarantee Agency.

20.Čl. 20.1–20.14

EVENTS OF DEFAULT

Each of the events or circumstances set out in this

Clause 20

is an Event of

Default (save for

(Acceleration)).

Clause20.1

Non-payment

The Borrower does not pay on the due date any amount payable pursuant

to a Finance Document at the place and in the currency in which it is

expressed to be payable unless:

its failure to pay is caused by:

(i)

administrative or technical error; or

(ii)

a Disruption Event; and

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

Clause20.2

Other obligations

The Borrower does not comply with any provision of the Finance

Documents (other than those referred to in

Clause 20.1

(Non-payment) and

Clause 20.13

(Environmental)).

No Event of Default under paragraph (a) above will occur if the failure to

comply is capable of remedy and is remedied within ten (10) Business Days

of the earlier of:

the Agent giving notice to the Borrower; and

ii)

the Borrower becoming aware of the failure to comply.

Clause20.3

Misrepresentation

Any representation or statement made or deemed to be made by the

Borrower in the Finance Documents or any other document delivered by or

on behalf of the Borrower under or in connection with any Transaction

Document is or proves to have been incorrect or misleading in any material

respect when made or deemed to be made.

Clause20.4

Cross default

Any External Financial Indebtedness of the Borrower is not paid when due

or within any originally applicable grace period.

As a result of an event of default (however described), any Financial

Indebtedness of the Borrower or any of its government agencies is:

declared to be or otherwise becomes due and payable prior to its

specified maturity; or

ii)

placed on demand.

Any commitment for any External Financial Indebtedness of the Borrower is

cancelled or suspended by a creditor of the Borrower as a result of an

event of default (however described).

No Event of Default will occur under this

Clause 20.4

if the aggregate

amount of the External Financial Indebtedness or commitment for Financial

Indebtedness falling within paragraphs (a) to (c) above is less than (EUR

50,000,000) (or its equivalent in any other currency or currencies as

determined by the Agent).

Clause20.5

Moratorium

A moratorium is declared or de facto comes into effect on the payment of

any External Financial Indebtedness of the Borrower or the Borrower

commences negotiations with any one or more of its External Financial

Indebtedness creditors with a view to the general readjustment or

rescheduling of its indebtedness.

Clause20.6

Creditors' process

Any expropriation, attachment, sequestration, distress or execution (or any

analogous process in any jurisdiction) affects any asset or assets of the

Borrower, the Buyer, or any government agencies having an aggregate

value of EUR 5,000,000 and is not discharged within thirty (30) days.

Clause20.7

Unlawfulness

It is or becomes unlawful for the Borrower or the Buyer to perform any of its

obligations under the Transaction Documents.

Any obligation or obligations of the Borrower under any Finance Document

are not or cease to be legal, valid, binding or enforceable and the cessation

individually or cumulatively materially and adversely affects the interests of

the Lenders under the Finance Documents.

Clause20.8

IMF

The Borrower ceases to be a member in good standing or becomes

ineligible to use the resources of the IMF or is unable for any reason to

draw or make use of funds available to it under any IMF funding

programme or any such programme is cancelled or suspended.

Clause20.9

Repudiation

The Borrower or the Buyer repudiates a Transaction Document or

evidences an intention to repudiate a Transaction Document.

Clause20.10

Exchange controls

Any event or series of events occurs which limits the acquisition or the

transfer of foreign exchange by the Borrower and such event or events has

or is reasonably likely to affect the ability of the Borrower to perform its

obligations under any Finance Document.

Clause20.11

Material adverse change

Any circumstances arise which give reasonable grounds in the opinion of

the Lender for belief that there has been a material adverse change in:

the economic condition of the Borrower; or

the ability of the Borrower to comply with any of its obligations under

the Finance Documents.

Clause20.12

Convertibility/Transferability

Any foreign exchange law is amended, enacted or introduced in the

Republic of Serbia or is reasonably likely to be amended, enacted or

introduced in each case in the Republic of Serbia that (in the opinion of the

Majority Lenders, acting reasonably):

has or is reasonably likely to have the effect of prohibiting, or

restricting or delaying in any material respect any payment that the

Borrower is required to make pursuant to the terms of any of the

Finance Documents; or

is materially prejudicial to the interests of the Finance Parties under

or in connection with any of the Finance Documents.

Clause20.13

Environmental

An E&S Obligations Breach under paragraph (d)(i)(D) (E&S Trigger Events)

(Environmental undertakings) occurs and is either incapable

of remedy or any E&S Obligations Breach is deemed to be incapable of

remedy pursuant to paragraph (d)(ii) (E&S Trigger Events) of

(Environmental undertakings).

Any Operations Phase E&S Management Plan is not accepted by UK

Export Finance within six (6) months of its first submission pursuant to

paragraph (f) (Operations Phase E&S Management Plan) of

(Environmental undertakings).

Clause20.14

Acceleration

On and at any time after the occurrence of an Event of Default which is

continuing the Agent may, and shall if so directed by the Majority Lenders,

by notice to the Borrower:

cancel the Total Commitments whereupon they shall immediately be

cancelled and the Facility shall immediately cease to be available for

further utilisation;

declare that all or part of the Loans, together with accrued interest,

and all other amounts accrued or outstanding under the Finance

Documents be immediately due and payable, whereupon they shall

become immediately due and payable; and/or

declare that all or part of the Loans be payable on demand,

whereupon they shall immediately become payable on demand by

the Agent on the instructions of the Majority Lenders.

SECTION 8

CHANGES TO PARTIES

21.Čl. 21.1–21.10

CHANGES TO THE LENDERS

Clause21.1

Assignments and transfers by the Lenders

Subject to the consent of UK Export Finance and this

, a Lender

(the "Existing Lender") may:

assign any of its rights; and/or

transfer by novation any of its rights and obligations under the

Finance Documents,

to another bank or financial institution or to a trust, fund or other entity

regularly engaged in or established for the purpose of making, purchasing

or investing in loans, securities or other financial assets, an Affiliate,

insurers, reinsurers, any funding vehicle established and managed (or the

assets of which are serviced or managed) by a Lender or any third party, for

the purpose of securitising or otherwise funding loans or to UK Export

Finance (the "New Lender").

Clause21.2

Conditions of assignment or transfer

An assignment will only be effective on:

(i)

receipt by the Agent (whether in the Assignment Agreement or

otherwise) of written confirmation from the New Lender (in form and

substance satisfactory to the Agent) that the New Lender will

assume the same obligations to the other Finance Parties as it

would have been under if it was an Original Lender; and

ii)

performance by the Agent of all necessary "know your customer" or

other similar checks under all applicable laws and regulations in

relation to such assignment to a New Lender, the completion of

which the Agent shall promptly notify to the Existing Lender and the

New Lender.

A transfer will only be effective if the procedure set out in

Clause 21.5

(Procedure for transfer) is complied with.

If:

(i)

a Lender assigns or transfers any of its rights or obligations under

the Finance Documents or changes its Facility Office; and

ii)

as a result of circumstances existing at the date the assignment,

transfer or change occurs, the Borrower would be obliged to make a payment to the New Lender or Lender acting through its new Facility

Office under

Clause 12

(Tax gross up and indemnities) or Clause

13.1 (Increased costs),

then the New Lender or Lender acting through its new Facility Office is only

entitled to receive payment under those Clauses to the same extent as the

Existing Lender or Lender acting through its previous Facility Office would

have been if the assignment, transfer or change had not occurred. This

paragraph (c) shall not apply in respect of an assignment or a transfer

made in the ordinary course of the primary syndication of the Facility.

Each New Lender, by executing the relevant Transfer Certificate or

Assignment Agreement, confirms, for the avoidance of doubt, that the Agent

has authority to execute on its behalf any amendment or waiver that has

been approved by or on behalf of the requisite Lender or Lenders in

accordance with this Agreement on or prior to the date on which the

transfer or assignment becomes effective in accordance with this

Agreement and that it is bound by that decision to the same extent as the

Existing Lender would have been had it remained a Lender.

Clause21.3

Assignment or transfer fee

The New Lender shall, on or before the date upon which an assignment or

a transfer takes effect (other than if the New Lender is UK Export Finance

or an Affiliate of a Lender), pay to the Agent (for its own account) a fee of

EUR 5,000.

Clause21.4

Limitation of responsibility of Existing Lenders

Unless expressly agreed to the contrary, an Existing Lender makes no

representation or warranty and assumes no responsibility to a New Lender

for:

the legality, validity, effectiveness, adequacy or enforceability of the

Finance Documents or any other documents;

ii)

the financial condition of the Borrower;

iii)

the performance and observance by the Borrower of its obligations

under the Finance Documents or any other documents; or

iv)

the accuracy of any statements (whether written or oral) made in or

in connection with any Finance Document or any other document,

and any representations or warranties implied by law are excluded.

Each New Lender confirms to the Existing Lender and the other Finance

Parties that it:

has made (and shall continue to make) its own independent

investigation and assessment of the financial condition and affairs of

the Borrower and its related entities in connection with its

participation in this Agreement and has not relied exclusively on any

information provided to it by the Existing Lender in connection with

any Finance Document; and

ii)

will continue to make its own independent appraisal of the

creditworthiness of the Borrower and its related entities whilst any

amount is or may be outstanding under the Finance Documents or

any Commitment is in force.

Nothing in any Finance Document obliges an Existing Lender to:

(i)

accept a re-transfer or re-assignment from a New Lender of any of

the rights and obligations assigned or transferred under this Clause

21; or

ii)

support any losses directly or indirectly incurred by the New Lender

by reason of the non-performance by the Borrower of its obligations

under the Finance Documents or otherwise.

Clause21.5

Procedure for transfer

Subject to the conditions set out in

Clause 21.2

(Conditions of assignment

or transfer) a transfer is effected in accordance with paragraph (c) below,

when the Agent executes an otherwise duly completed Transfer Certificate

delivered to it by the Existing Lender and the New Lender.

The Agent shall, subject to paragraph (c) below, as soon as reasonably

practicable after receipt by it of a duly completed Transfer Certificate

appearing on its face to comply with the terms of this Agreement and

delivered in accordance with the terms of this Agreement, execute that

Transfer Certificate. The Agent shall only be obliged to execute a Transfer

Certificate delivered to it by the Existing Lender and the New Lender once it

is satisfied it has complied with all necessary "know your customer" or other

similar checks under all applicable law in relation to the transfer to such

New Lender.

Subject to

(Pro rata interest settlement), on the Transfer Date:

(i)

to the extent that in the Transfer Certificate the Existing Lender

seeks to transfer by novation its rights and obligations under the Finance Documents, the Borrower and the Existing Lender shall be

released from further obligations towards one another under the

Finance Documents and their respective rights against one another

under the Finance Documents shall be cancelled (being the

"Discharged Rights and Obligations");

ii)

the Borrower and the New Lender shall assume obligations towards

one another and/or acquire rights against one another which differ

from the Discharged Rights and Obligations only insofar as the

Borrower and the New Lender have assumed and/or acquired the

same in place of the Borrower and the Existing Lender;

iii)

the Agent, the Arrangers, the New Lender and the other Lenders

shall acquire the same rights and assume the same obligations

between themselves as they would have acquired and assumed had

the New Lender been an Original Lender with the rights and/or

obligations acquired or assumed by it as a result of the transfer and

to that extent the Agent, the Arrangers and the Existing Lender shall

each be released from further obligations to each other under the

Finance Documents; and

iv)

unless already a Lender, the New Lender shall become a Party as a

"Lender".

Clause21.6

Procedure for assignment

Subject to the conditions set out in

Clause 21.2

(Conditions of assignment

or transfer) an assignment may be effected in accordance with paragraph

below when the Agent executes an otherwise duly completed

Assignment Agreement delivered to it by the Existing Lender and the New

Lender. The Agent shall, subject to paragraph (b) below, as soon as

reasonably practicable after receipt by it of a duly completed Assignment

Agreement appearing on its face to comply with the terms of this

Agreement and delivered in accordance with the terms of this Agreement,

execute that Assignment Agreement.

The Agent shall only be obliged to execute an Assignment Agreement

delivered to it by the Existing Lender and the New Lender once it is

satisfied it has complied with all necessary "know your customer" or other

similar checks under all applicable laws and regulations in relation to the

assignment to such New Lender.

Subject to

(Pro rata interest settlement), on the Transfer Date:

(i)

the Existing Lender will assign absolutely to the New Lender the

rights under the Finance Documents expressed to be the subject of

the assignment in the Assignment Agreement;

ii)

the Existing Lender will be released by the Borrower and the other

Finance Parties from the obligations owed by it (the "Relevant

Obligations") and expressed to be the subject of the release in the

Assignment Agreement; and

iii)

the New Lender shall become a Party as a "Lender" and will be

bound by obligations equivalent to the Relevant Obligations.

Lenders may utilise procedures other than those set out in this

to assign their rights under the Finance Documents (but not, without the

consent of the Borrower or unless in accordance with

Clause 21.5

(Procedure for transfer), to obtain a release by the Borrower from the

obligations owed to the Borrower by the Lenders nor the assumption of

equivalent obligations by a New Lender) provided that they comply with

the conditions set out in

Clause 21.2

(Conditions of assignment or transfer).

Clause21.7

Copy of Transfer Certificate or Assignment Agreement to the Borrower and to NBS

The Agent shall, as soon as reasonably practicable after it has executed a

Transfer Certificate or an Assignment Agreement, send to the Borrower a

copy of that Transfer Certificate or Assignment Agreement.

The Borrower shall, as soon as reasonably practicable after it has received

a copy of the Transfer Certificate or Assignment Agreement, deliver to the

NBS (copied to the Agent) a written statement:

of acknowledgment of the transfer of the Lenders' rights under the

Finance Documents, and

ii)

(if applicable) consenting to the transfer of the Lenders' obligations

under the Finance Documents for the purposes of reporting the

change to the Lender.

Clause21.8

Security over Lenders' rights

In addition to the other rights provided to Lenders under this

each Lender may without consulting with or obtaining consent from the

Borrower (but subject to obtaining the consent of UK Export Finance), at

any time charge, assign or otherwise create Security in or over (whether by way of collateral or otherwise) all or any of its rights under any Finance

Document to secure obligations of that Lender including, without limitation:

any charge, assignment or other Security to secure obligations to a

federal reserve or central bank; and

ii)

in the case of any Lender which is a fund, any charge, assignment

or other Security granted to any holders (or trustee or

representatives of holders) of obligations owed, or securities issued,

by that Lender as security for those obligations or securities,

except that, without prejudice to the other provisions of this

clause 21.8

, no

such charge, assignment or Security shall:

iii)

release a Lender from any of its obligations under the Finance

Documents or substitute the beneficiary of the relevant charge,

assignment or Security for such Lender as a party to any of the

Finance Documents; or

iv)

require any payments to be made by the Borrower other than or in

excess of, or grant to any person any more extensive rights than,

those required to be made or granted to the relevant Lender under

the Finance Documents.

The limitations on assignments and transfers by a Lender set out in any

Finance Document, in particular in

clause 21.1

(Assignments and transfers

by the Lenders),

clause 21.2

(Conditions of assignment or transfer), clause

21.3 (Assignment or transfer fee),

clause 21.5

(Procedure for transfer),

clauses 21.6

(Procedure for assignment) and 21.7 (Copy of Transfer

Certificate or Assignment Agreement to the Borrower and to NBS) shall not

apply to the creation of Security pursuant to paragraph (a) above.

By virtue of the enforcement of any assignment, charge or Security created

pursuant to paragraph (a) above, subject to any applicable law, as from the

date on which the Agent is notified by the beneficiary of such enforcement

of any such assignment, charge or Security, such beneficiary shall be

deemed to become a Party as a "Lender" in respect of the rights of the

Lender which are subject to any such enforcement.

Clause21.9

Pro rata interest settlement

If the Agent has notified the Lenders that it is able to distribute interest

payments on a "pro rata basis" to Existing Lenders and New Lenders that

have become Lenders then (in respect of any transfer pursuant to Clause

21.5 (Procedure for transfer) or any assignment pursuant to

(Procedure for assignment) the Transfer Date of which, in each case, is

after the date of such notification and is not an Interest Payment Date):

any interest or fees in respect of the relevant participation which are

expressed to accrue by reference to the lapse of time shall continue

to accrue in favour of the Existing Lender up to but excluding the

Transfer Date (the "Accrued Amounts") and shall become due and

payable to the Existing Lender (without further interest accruing on

them) on the next succeeding Interest Payment Date; and

ii)

the rights assigned or transferred by the Existing Lender will not

include the right to the Accrued Amounts, so that, for the avoidance

of doubt:

(A) when the Accrued Amounts become payable, those Accrued

Amounts will be payable to the Existing Lender; and

(B) the amount payable to the New Lender that has become a

Lender on that date will be the amount which would, but for

the application of this

, have been payable to it on

that date, but after deduction of the Accrued Amounts.

In this

references to "Interest Period" shall be construed to

include a reference to any other period for accrual of fees.

Clause21.10

Register

The Agent shall keep an up-to-date register of all the Finance Parties and

shall supply the Borrower, each Finance Party and UK Export Finance with

a copy of the register on request. The register will include each Lender's

Facility Office and contact details for the purposes of this Agreement.

22.

CHANGES TO THE BORROWER

The Borrower may not assign any of its rights or transfer any of its rights or

obligations under the Finance Documents.

SECTION 9

THE FINANCE PARTIES

23.Čl. 23.1–23.19

ROLE OF THE AGENT AND THE ARRANGERS

Clause23.1

Appointment of the Agent

Each of the Arrangers and the Lenders appoints the Agent to act as its

agent under and in connection with the Finance Documents.

Each of the Arrangers and the Lenders authorises the Agent to perform the

duties, obligations and responsibilities and to exercise the rights, powers,

authorities and discretions specifically given to the Agent under or in

connection with the Finance Documents together with any other incidental

rights, powers, authorities and discretions.

Each of the Arrangers and the Lenders hereby exempts the Agent from the

restrictions pursuant to section 181 Civil Code (Bürgerliches Gesetzbuch)

and similar restrictions applicable to it pursuant to any other applicable law,

in each case to the extent legally possible to such Finance Party. A Finance

Party which cannot grant such exemption shall notify the Agent accordingly

and, upon request of the Agent, either act in accordance with the terms of

this Agreement and/or any other Finance Document as required pursuant to

this Agreement and/or such other Finance Document or grant a special

power of attorney to a party acting on its behalf, in a manner that is not

prohibited pursuant to section 181 of the German Civil Code (Bürgerliches

Gesetzbuch) and/or any other applicable laws.

Clause23.2

Instructions

Without prejudice to the generality of

(UKEF Guarantee), the

Agent shall:

exercise or refrain from exercising any right, power, authority or

discretion vested in it as Agent in accordance with any instructions

given to it by:

(A) all Lenders if the relevant Finance Document stipulates the

matter is an all Lender decision; and

(B) in all other cases, the Majority Lenders; and

ii)

not be liable for any act (or omission) if it acts (or refrains from

acting) in accordance with paragraph (i) above.

The Agent shall be entitled to request instructions, or clarification of any

instruction, from the Majority Lenders (or, if the relevant Finance Document stipulates the matter is a decision for any other Lender or group of Lenders,

from that Lender or group of Lenders) as to whether, and in what manner, it

should exercise or refrain from exercising any right, power, authority or

discretion. The Agent may refrain from acting unless and until it receives

any such instructions or clarification that it has requested.

Save in the case of decisions stipulated to be a matter for any other Lender

or group of Lenders under the relevant Finance Document and unless a

contrary indication appears in a Finance Document, any instructions given

to the Agent by the Majority Lenders shall override any conflicting

instructions given by any other Parties and will be binding on all Finance

Parties.

The Agent may refrain from acting in accordance with any instructions of

any Lender or group of Lenders until it has received any indemnification

and/or security that it may in its discretion require (which may be greater in

extent than that contained in the Finance Documents and which may

include payment in advance) for any cost, loss (excluding any management

time and any direct or indirect loss of profit) or liability which it may incur in

complying with those instructions.

In the absence of instructions, the Agent may, acting reasonably, act (or

refrain from acting) as it considers to be in the best interest of the Lenders.

The Agent is not authorised to act on behalf of a Lender (without first

obtaining that Lender's consent) in any legal or arbitration proceedings

relating to any Finance Document.

Clause23.3

Duties of the Agent

Subject to paragraph (e) of

Clause 23.2

(Instructions), the Agent's duties

under the Finance Documents are solely mechanical and administrative in

nature.

Subject to paragraph (c) below, the Agent shall promptly forward to a Party

the original or a copy of any document which is delivered to the Agent for

that Party by any other Party.

Without prejudice to

Clause 21.7

(Copy of Transfer Certificate or

Assignment Agreement to the Borrower and to NBS), paragraph (b) above

shall not apply to any Transfer Certificate or Assignment Agreement.

Except where a Finance Document specifically provides otherwise, the

Agent is not obliged to review or check the adequacy, accuracy or completeness of any document which is delivered to it that it then forwards

to another Party.

If the Agent receives notice from a Party referring to this Agreement,

describing a Default and stating that the circumstance described is a

Default, it shall promptly notify the other Finance Parties.

If the Agent is aware of the non-payment of any principal, interest,

commitment fee or other fee payable to a Finance Party (other than the

Agent or any Arranger) under this Agreement it shall promptly notify the

other Finance Parties.

The Agent shall have only those duties, obligations and responsibilities

expressly specified in: (i) the Finance Documents to which it is expressed to

be a party; and (ii) the UKEF Guarantee; and no others shall be implied.

The Agent shall notify the Lenders and UK Export Finance if it becomes

aware that a prepayment or cancellation event under

Clause 8

(Prepayment and cancellation) has occurred.

The Agent shall promptly notify the Lenders and UK Export Finance if any

conditions set out in paragraphs (a) of

Clause 5.2

(Further conditions

precedent) are not satisfied.

Clause23.4

Role of the Arrangers

Except as specifically provided in the Finance Documents, no Arranger

shall have any obligations of any kind to any other Party under or in

connection with any Finance Document.

Clause23.5

No fiduciary duties

Nothing in any Finance Document constitutes the Agent or any Arranger as

a trustee or fiduciary of any other person.

Neither the Agent nor any Arranger shall be bound to account to any Lender

for any sum or the profit element of any sum received by it for its own

account.

Clause23.6

Business with the Borrower

The Agent and the Arrangers may accept deposits from, lend money to and

generally engage in any kind of banking or other business with the

Borrower.

Clause23.7

Rights and discretions

The Agent may:

(i)

rely on any representation, communication notice or document

believed by it to be genuine, correct and appropriately authorised;

ii)

assume that:

(A) any instructions received by it from the Majority Lenders, any

Lender or any group of Lenders are duly given in accordance

with the terms of the Finance Documents; and

(B) any instructions received by it from UK Export Finance are

duly given in accordance with the terms of the UKEF

Guarantee, and

unless it has received notice of revocation, that those instructions

have not been revoked; and

iii)

rely on a certificate from any person:

(A) as to any matter of fact or circumstance which might

reasonably be expected to be within the knowledge of that

person; or

(B) to the effect that such person approves of any particular

dealing, transaction, step, action or thing,

as sufficient evidence that that is the case and, in the case of

paragraph (A) above, may assume the truth and accuracy of that

certificate.

The Agent may assume (unless it has received notice to the contrary in its

capacity as agent for the Lenders or from UK Export Finance under the

UKEF Guarantee) that:

no Default has occurred (unless it has actual knowledge of a Default

arising under

Clause 20.1

(Non-payment));

ii)

any right, power, authority or discretion vested in any Party or any

group of Lenders has not been exercised; and

iii)

any notice or request made by the Borrower (other than a Utilisation

Request) is made on behalf of and with the consent and knowledge

of the Borrower.

The Agent may, pursuant to the instructions of the Majority Lenders,

engage and pay for the advice or services of any lawyers, accountants, tax advisers, surveyors or other professional advisers or experts for the benefit

of the Lenders and UK Export Finance.

Without prejudice to the generality of paragraph (c) above or paragraph (e)

below, the Agent may at any time engage at its own expense the services

of any lawyers to act as independent counsel to the Agent (and so separate

from any lawyers instructed by the Lenders) if the Agent in its reasonable

opinion deems this to be necessary.

The Agent may rely on the advice or services of any lawyers, accountants,

tax advisers, surveyors or other professional advisers or experts obtained

by the Agent pursuant to the instructions of the Majority Lenders and shall

not be liable for any damages, costs or losses to any person, any

diminution in value or any liability whatsoever arising as a result of its so

relying.

The Agent may act in relation to the Finance Documents through its

officers, employees and agents.

Unless a Finance Document expressly provides otherwise, the Agent may

disclose to any other Party any information it reasonably believes it has

received as agent under this Agreement.

Notwithstanding any other provision of any Finance Document to the

contrary, neither the Agent nor any Arranger is obliged to do or omit to do

anything if it would or might in its reasonable opinion constitute a breach of

any law or regulation or a breach of a fiduciary duty or duty of

confidentiality.

Notwithstanding any provision of any Finance Document to the contrary, the

Agent is not obliged to expend or risk its own funds or otherwise incur any

financial liability in the performance of its duties, obligations or

responsibilities or the exercise of any right, power, authority or discretion if it

has grounds for believing the repayment of such funds or adequate

indemnity against, or security for, such risk or liability is not reasonably

assured to it.

Clause23.8

Responsibility for documentation

Neither the Agent nor any Arranger is responsible or liable for:

the adequacy, accuracy or completeness of any information

(whether oral or written) supplied by the Agent, any Arranger, the

Borrower or any other person in or in connection with any Finance

Document or the transactions contemplated in the Finance Documents or any other agreement, arrangement or document

entered into, made or executed in anticipation of, under or in

connection with any Finance Document other than information

generated by itself; or

the legality, validity, effectiveness, adequacy or enforceability of any

Finance Document or any other agreement, arrangement or

document entered into, made or executed in anticipation of, under or

in connection with any Finance Document; or

any determination as to whether any information provided or to be

provided to any Finance Party is non-public information the use of

which may be regulated or prohibited by applicable law or regulation

relating to insider dealing or otherwise.

Clause23.9

No duty to monitor

The Agent shall not be bound to enquire:

whether or not any Default has occurred;

as to the performance, default or any breach by any Party of its

obligations under any Finance Document; or

whether any other event specified in any Finance Document has

occurred.

Clause23.10

Exclusion of liability

Without limiting paragraph (b) below (and without prejudice to any other

provision of any Finance Document excluding or limiting the liability of the

Agent), the Agent will not be liable for:

any damages, costs or losses to any person, any diminution in

value, or any liability whatsoever arising as a result of taking or not

taking any action under or in connection with any Finance

Document, unless directly caused by its gross negligence or wilful

misconduct;

ii)

exercising, or not exercising, any right, power, authority or discretion

given to it by, or in connection with, any Finance Document or any

other agreement, arrangement or document entered into, made or

executed in anticipation of, under or in connection with, any Finance

Document, other than by reason of its gross negligence or wilful

misconduct; or

iii)

without prejudice to the generality of paragraphs (i) and (ii) above,

any damages, costs or losses to any person, any diminution in value or any liability whatsoever (but not including any claim based on the

fraud of the Agent) arising as a result of:

(A) any act, event or circumstance not reasonably within its

control; or

(B) the general risks of investment in, or the holding of assets in,

any jurisdiction,

including (in each case and without limitation) such damages, costs,

losses, diminution in value or liability arising as a result of:

nationalisation, expropriation or other governmental actions; any

regulation, currency restriction, devaluation or fluctuation; market

conditions affecting the execution or settlement of transactions or

the value of assets (including any Disruption Event); breakdown,

failure or malfunction of any third party transport,

telecommunications, computer services or systems; natural

disasters or acts of God; war, terrorism, insurrection or revolution; or

strikes or industrial action.

No Party (other than the Agent) may take any proceedings against any

officer, employee or agent of the Agent in respect of any claim it might have

against the Agent or in respect of any act or omission of any kind by that

officer, employee or agent in relation to any Finance Document and any

officer, employee or agent of the Agent may rely on this paragraph (b)

subject to

Clause 1.4

(Third party rights) and the provisions of the Third

Parties Act.

The Agent will not be liable for any delay (or any related consequences) in

crediting an account with an amount required under the Finance

Documents to be paid by the Agent if the Agent has taken all necessary

steps as soon as reasonably practicable to comply with the regulations or

operating procedures of any recognised clearing or settlement system used

by the Agent for that purpose.

Nothing in this Agreement shall oblige the Agent or any Arranger to carry

out:

any "know your customer" or other checks in relation to any person;

ii)

any check on the extent to which any transaction contemplated by

this Agreement might be unlawful for any Lender, on behalf of any Lender and each Lender confirms to the Agent and each

Arranger that it is solely responsible for any such checks it is required to

carry out and that it may not rely on any statement in relation to such

checks made by the Agent or any Arranger.

Without prejudice to any provision of any Finance Document excluding or

limiting the Agent's liability, any liability of the Agent arising under or in

connection with any Finance Document shall be limited to the amount of

actual loss which has been suffered (as determined by reference to the

date of default of the Agent or, if later, the date on which the loss arises as a

result of such default). In no event shall the Agent be liable for any loss of

profits, goodwill, reputation, business opportunity or anticipated saving, or

for special, punitive, indirect or consequential damages, whether or not the

Agent has been advised of the possibility of such loss or damages.

Clause23.11

Lenders' indemnity to the Agent

Subject to paragraph (d) of

Clause 23.7

(Rights and discretions), each

Lender shall (in proportion to its share of the Total Commitments or, if the

Total Commitments are then zero, to its share of the Total Commitments

immediately prior to their reduction to zero) indemnify the Agent, within

three (3) Business Days of demand, against any cost, loss or liability

whatsoever incurred by the Agent (otherwise than by reason of the Agent's

gross negligence or wilful misconduct) (or, in the case of any cost, loss or

liability pursuant to

Clause 26.12

(Disruption to payment systems etc.),

notwithstanding any other category of liability whatsoever but not including

any claim based on the fraud of the Agent) in acting as Agent under the

Finance Documents (unless the Agent has been reimbursed by the

Borrower pursuant to a Finance Document).

Paragraph (a) above shall not apply to any cost, loss or liability incurred by

the Agent in respect of:

any failure by the Borrower to make payment pursuant to Clause

11.3 (Agency fee);

ii)

any payment made by the Agent described in paragraph (d) of

Clause 23.7

(Rights and discretions); and

iii)

its management time.

The Borrower shall immediately on demand reimburse any Lender for any

payment that Lender makes to the Agent pursuant to paragraph (a) above.

Clause23.12

Resignation of the Agent

The Agent may, with the prior written consent of UK Export Finance, resign

and appoint one of its Affiliates as successor by giving notice to the Lenders

and the Borrower.

Notwithstanding paragraph (a) above, the Agent may, with the prior written

consent of UK Export Finance, resign by giving thirty (30) days' notice to

the Lenders and the Borrower, in which case the Majority Lenders (after

consultation with the Borrower) may appoint a successor Agent.

The retiring Agent shall, at its own cost, make available to the successor

Agent such documents and records and provide such assistance as the

successor Agent may reasonably request for the purposes of performing its

functions as Agent under the Finance Documents. The Borrower shall,

within three (3) Business Days of demand, reimburse the retiring Agent for

the amount of all costs and expenses (including legal fees) properly

incurred by it in making available such documents and records and

providing such assistance.

The Agent's resignation notice shall only take effect upon the appointment

of a successor.

Upon the appointment of a successor, the retiring Agent shall be discharged

from any further obligation in respect of the Finance Documents (other than

its obligations under paragraph (c) above) but shall remain entitled to the

benefit of

Clause 14.3

(Indemnity to the Agent) and this

Clause 23

(and any

agency fees for the account of the retiring Agent shall cease to accrue from

(and shall be payable on) that date). Any successor and each of the other

Parties shall have the same rights and obligations amongst themselves as

they would have had if such successor had been an original Party.

After consultation with the Borrower, the Majority Lenders may, by notice to

the Agent, require it to resign in accordance with paragraph (b) above. In

this event, the Agent shall resign in accordance with paragraph (b) above.

The Agent shall resign in accordance with paragraph (b) above (and, to the

extent applicable, shall use reasonable endeavours to appoint a successor

Agent pursuant to paragraph (b) above) if on or after the date which is three

months before the earliest FATCA Application Date relating to any

payment to the Agent under the Finance Documents, either:

the Agent fails to respond to a request under

Clause 12.7

(FATCA

Information) and the Borrower or a Lender reasonably believes that the Agent will not be (or will have ceased to be) a FATCA Exempt

Party on or after that FATCA Application Date;

ii)

the information supplied by the Agent pursuant to

Clause 12.7

(FATCA Information) indicates that the Agent will not be (or will have

ceased to be) a FATCA Exempt Party on or after that FATCA

Application Date; or

iii)

the Agent notifies the Borrower and the Lenders that the Agent will

not be (or will have ceased to be) a FATCA Exempt Party on or after

that FATCA Application Date,

and (in each case) a Lender reasonably believes that a Party will be

required to make a FATCA Deduction that would not be required if the

Agent were a FATCA Exempt Party and that Lender, by notice to the Agent,

requires it to resign. The consent of the Borrower is not required for an

assignment or transfer of rights and/or obligations by the Agent.

Clause23.13

Replacement of the Agent

After consultation with the Borrower and with the consent of UK Export

Finance, the Majority Lenders may, by giving thirty (30) days' notice to the

Agent (or, at any time the Agent is an Impaired Agent, by giving any shorter

notice determined by the Majority Lenders) replace the Agent by appointing

a successor Agent.

The retiring Agent shall (at its own cost if it is an Impaired Agent and

otherwise at the expense of the Lenders) make available to the successor

Agent such documents and records and provide such assistance as the

successor Agent may reasonably request for the purposes of performing its

functions as Agent under the Finance Documents.

The appointment of the successor Agent shall take effect on the date

specified in the notice from the Majority Lenders to the retiring Agent,

subject to the execution by that successor of such documentation as may

reasonably be required by UK Export Finance in order to reflect the

substitution of the successor as the beneficiary for all purposes under the

UKEF Guarantee. As from this date, the retiring Agent shall be discharged

from any further obligation in respect of the Finance Documents (other than

its obligations under paragraph (b) above) but shall remain entitled to the

benefit of

Clause 14.3

(Indemnity to the Agent) and this

Clause 23

(and any

agency fees for the account of the retiring Agent shall cease to accrue from

(and shall be payable on) that date).

Any successor Agent and each of the other Parties shall have the same

rights and obligations amongst themselves as they would have had if such

successor had been an original Party.

Clause23.14

Confidentiality

In acting as agent for the Finance Parties, the Agent shall be regarded as

acting through its agency division which shall be treated as a separate

entity from any other of its divisions or departments.

If information is received by another division or department of the Agent, it

may be treated as confidential to that division or department and the Agent

shall not be deemed to have notice of it.

Clause23.15

Relationship with the Lenders

Subject to

(Pro rata interest settlement), the Agent may treat

the person shown in its records as Lender at the opening of business (in

the place of the Agent's principal office as notified to the Finance Parties

from time to time) as the Lender acting through its Facility Office:

entitled to or liable for any payment due under any Finance

Document on that day; and

ii)

entitled to receive and act upon any notice, request, document or

communication or make any decision or determination under any

Finance Document made or delivered on that day,

unless it has received not less than five (5) Business Days' prior notice from

that Lender to the contrary in accordance with the terms of this Agreement.

Any Lender may by notice to the Agent appoint a person to receive on its

behalf all notices, communications, information and documents to be made

or despatched to that Lender under the Finance Documents. Such notice

shall contain the address and (where communication by electronic mail or

other electronic means is permitted under

(Electronic

communication)) electronic mail address and/or any other information

required to enable the transmission of information by that means (and, in

each case, the department or officer, if any, for whose attention

communication is to be made) and be treated as a notification of a

substitute address, electronic mail address (or such other information),

department and officer by that Lender for the purposes of

(Contact details) and paragraph (a)(i) of

(Electronic

communication) and the Agent shall be entitled to treat such person as the

person entitled to receive all such notices, communications, information and

documents as though that person were that Lender.

Clause23.16

Credit appraisal by the Lenders

Without affecting the responsibility of the Borrower for information supplied

by it or on its behalf in connection with any Finance Document, each

Lender confirms to the Agent and each Arranger that it has been, and will

continue to be, solely responsible for making its own independent appraisal

and investigation of all risks arising under or in connection with any Finance

Document including but not limited to:

the financial condition, status and nature of the Borrower, each of its

government agencies and the Buyer;

the legality, validity, effectiveness, adequacy or enforceability of any

Transaction Document and any other agreement, arrangement or

document entered into, made or executed in anticipation of, under or

in connection with any Transaction Document;

whether that Lender has recourse, and the nature and extent of that

recourse, against any Party or any of its respective assets under or

in connection with any Finance Document, the transactions

contemplated by the Finance Documents or any other agreement,

arrangement or document entered into, made or executed in

anticipation of, under or in connection with any Finance Document;

and

the adequacy, accuracy or completeness of any information

provided by the Agent, any Party or by any other person under or in

connection with any Finance Document, the transactions

contemplated by any Finance Document or any other agreement,

arrangement or document entered into, made or executed in

anticipation of, under or in connection with any Finance Document.

Clause23.17

Agent's management time

Any amount payable to the Agent under

Clause 14.3

(Indemnity to the

Agent),

Clause 16

(Costs and expenses) and

Clause 23.9

(No duty to

monitor) shall include the cost of utilising the Agent's management time or

other resources, up to the amount of EUR 5,000, and will be calculated on

the basis of such reasonable daily or hourly rates as the Agent may notify to

the Borrower and the Lenders, and is in addition to any fee paid or payable

to the Agent under

Clause 11

(Fees).

Clause23.18

Deduction from amounts payable by the Agent

If any Party owes an amount to the Agent under the Finance Documents

the Agent may, after giving notice to that Party, deduct an amount not exceeding that amount from any payment to that Party which the Agent

would otherwise be obliged to make under the Finance Documents and

apply the amount deducted in or towards satisfaction of the amount owed.

For the purposes of the Finance Documents that Party shall be regarded as

having received any amount so deducted.

Clause23.19

Amounts paid in error

Except for any payment to UKEF, if the Agent pays an amount to

another Party and within five (5) Business Days of the date of

payment the Agent notifies that Party that such payment was an

Erroneous Payment then the Party to whom that amount was paid

by the Agent shall on demand refund the same to the Agent together

with interest on that amount from the date of payment to the date of

receipt by the Agent, calculated by the Agent to reflect its cost of

funds.

Neither:

(i)

the obligations of any Party to the Agent; nor

(ii)

the remedies of the Agent,

(whether arising under this

Clause 23.19

or otherwise) which relate

to an Erroneous Payment will be affected by any act, omission,

matter or thing which, but for this paragraph (b), would reduce,

release or prejudice any such obligation or remedy (whether or not

known by the Agent or any other Party).

All payments to be made by a Party to the Agent (whether made

pursuant to this

Clause 23.19

or otherwise) which relate to an

Erroneous Payment shall be calculated and be made without (and

free and clear of any deduction for) set-off or counterclaim.

In this Agreement, "Erroneous Payment" means a payment of an

amount by the Agent to another Party (other than UKEF) which the

Agent determines (in its sole discretion) was made in error.

24.

CONDUCT OF BUSINESS BY THE FINANCE PARTIES

No provision of this Agreement will:

(a)

interfere with the right of any Finance Party to arrange its affairs (Tax

or otherwise) in whatever manner it thinks fit;

(b)

oblige any Finance Party to investigate or claim any credit, relief,

remission or repayment available to it or the extent, order and

manner of any claim; or

(c)

oblige any Finance Party to disclose any information relating to its

affairs (Tax or otherwise) or any computations in respect of Tax.

25.Čl. 25.1–25.5

SHARING AMONG THE FINANCE PARTIES

Clause25.1

Payments to Finance Parties

If a Finance Party (a "Recovering Finance Party") receives or recovers

any amount from the Borrower other than in accordance with

Clause 26

(Payment mechanics) (a "Recovered Amount") and applies that amount to

a payment due under the Finance Documents then:

the Recovering Finance Party shall, within three (3) Business Days,

notify details of the receipt or recovery to the Agent;

the Agent shall determine whether the receipt or recovery is in

excess of the amount the Recovering Finance Party would have

been paid had the receipt or recovery been received or made by the

Agent and distributed in accordance with

Clause 26

(Payment

mechanics), without taking account of any Tax which would be

imposed on the Agent in relation to the receipt, recovery or

distribution; and

the Recovering Finance Party shall, within three (3) Business Days

of demand by the Agent, pay to the Agent an amount (the "Sharing

Payment") equal to such receipt or recovery less any amount which

the Agent determines may be retained by the Recovering Finance

Party as its share of any payment to be made, in accordance with

Clause 26.7

(Partial payments).

Clause25.2

Redistribution of payments

The Agent shall treat the Sharing Payment as if it had been paid by the

Borrower and distribute it between the Finance Parties (other than the

Recovering Finance Party) (the "Sharing Finance Parties") in accordance

with

Clause 26.7

(Partial payments) towards the obligations of the Borrower

to the Sharing Finance Parties.

Clause25.3

Recovering Finance Party's rights

On a distribution by the Agent under

Clause 25.2

(Redistribution of

payments) of a payment received by a Recovering Finance Party from the

Borrower, as between the Borrower and the Recovering Finance Party, an amount of the Recovered Amount equal to the Sharing Payment will be

treated as not having been paid by the Borrower.

Clause25.4

Reversal of redistribution

If any part of the Sharing Payment received or recovered by a Recovering

Finance Party becomes repayable and is repaid by that Recovering

Finance Party, then:

each Sharing Finance Party shall, upon request of the Agent, pay to

the Agent for the account of that Recovering Finance Party an

amount equal to the appropriate part of its share of the Sharing

Payment (together with an amount as is necessary to reimburse that

Recovering Finance Party for its proportion of any interest on the

Sharing Payment which that Recovering Finance Party is required to

pay) (the "Redistributed Amount"); and

as between the Borrower and each relevant Sharing Finance Party,

an amount equal to the relevant Redistributed Amount will be

treated as not having been paid by the Borrower.

Clause25.5

Exceptions

This

Clause 25

shall not apply to the extent that the Recovering Finance

Party would not, after making any payment pursuant to this Clause, have a

valid and enforceable claim against the Borrower.

A Recovering Finance Party is not obliged to share with any other Finance

Party any amount which the Recovering Finance Party has received or

recovered as a result of taking legal or arbitration proceedings, if:

it notified that other Finance Party of the legal or arbitration

proceedings; and

ii)

that other Finance Party had an opportunity to participate in those

legal or arbitration proceedings but did not do so as soon as

reasonably practicable having received notice and did not take

separate legal or arbitration proceedings.

SECTION 10

ADMINISTRATION

26.Čl. 26.1–26.12

PAYMENT MECHANICS

Clause26.1

Payments to the Agent

On each date on which the Borrower or a Lender is required to make a

payment under a Finance Document, the Borrower or Lender shall make

the same available to the Agent (unless a contrary indication appears in a

Finance Document) for value on the due date at the time and in such funds

specified by the Agent as being customary at the time for settlement of

transactions in the relevant currency in the place of payment.

Payment shall be made to such account in the principal financial centre of

the country of that currency (or, in relation to euro, in a principal financial

centre in such Participating Member State or London, as specified by the

Agent) and with such bank as the Agent, in each case, specifies.

Clause26.2

Distributions by the Agent

Each payment received by the Agent under the Finance Documents for

another Party shall, subject to

Clause 26.4

(Distributions to the Borrower)

and

Clause 26.5

(Clawback and pre-funding) be made available by the

Agent as soon as practicable after receipt to the Party entitled to receive

payment in accordance with this Agreement (in the case of a Lender, for the

account of its Facility Office), to such account as that Party may notify to the

Agent by not less than five (5) Business Days' notice with a bank specified

by that Party in the principal financial centre of the country of that currency

(or, in relation to euro, in the principal financial centre of a Participating

Member State or London), as specified by that Party.

Clause26.3

Distributions in respect of Utilisations

The Borrower irrevocably and unconditionally authorises and directs the

Agent to pay the proceeds of any Loans to be made to the Borrower

pursuant to a Utilisation Request made by:

a Reimbursement Request, to the Borrower; and

ii)

a Payment Request, to the Exporter.

Each payment under paragraph (a) above shall be to such bank account

with a bank in the principal financial centre of a Participating Member State

or London as notified to the Agent by the Borrower, Exporter or UK Export

Finance (as relevant).

Clause26.4

Distributions to the Borrower

The Agent may, with the consent of the Borrower or in accordance with

Clause 27

(Set-off), apply any amount received by it for the Borrower in or

towards payment (on the date and in the currency and funds of receipt) of

any amount due from the Borrower under the Finance Documents or in or

towards purchase of any amount of any currency to be so applied.

Clause26.5

Clawback and pre-funding

Where a sum is to be paid to the Agent under the Finance Documents for

another Party, the Agent is not obliged to pay that sum to that other Party

(or to enter into or perform any related exchange contract) until it has been

able to establish to its satisfaction that it has actually received that sum.

Unless paragraph (c) below applies, if the Agent pays an amount to another

Party and it proves to be the case that the Agent had not actually received

that amount, then the Party to whom that amount (or the proceeds of any

related exchange contract) was paid by the Agent shall on demand refund

the same to the Agent together with interest on that amount from the date of

payment to the date of receipt by the Agent, calculated by the Agent to

reflect its cost of funds.

If the Agent is willing to make available amounts for the account of the

Borrower before receiving funds from the Lenders then if and to the extent

that the Agent does so but it proves to be the case that it does not then

receive funds from a Lender in respect of a sum which it paid to the

Borrower:

the Borrower shall on demand refund it to the Agent; and

ii)

the Lender by whom those funds should have been made available

or, if that Lender fails to do so, the Borrower, shall on demand pay to

the Agent the amount (as certified by the Agent) which will indemnify

the Agent against any funding cost incurred by it as a result of

paying out that sum before receiving those funds from that Lender.

Clause26.6

Impaired Agent

If, at any time, the Agent becomes an Impaired Agent, the Borrower or a

Lender which is required to make a payment under the Finance Documents

to the Agent in accordance with

Clause 26.1

(Payments to the Agent) may

instead pay that amount direct to the required recipient(s).

A Party which has made a payment in accordance with this

Clause 26.6

shall be discharged of the relevant payment obligation under the Finance

Documents.

Clause26.7

Partial payments

If the Agent receives a payment that is insufficient to discharge all the

amounts then due and payable by the Borrower under the Finance

Documents then the Agent shall apply that payment towards the obligations

of the Borrower under the Finance Documents in the following order:

any sum due but unpaid under

Clause 16.3

(Enforcement costs);

ii)

any sum due but unpaid under

(Default interest) in

respect of the sums described in paragraphs (iii), (iv) and (v) below

in that order, but only up to the amount that would be due if that sum

were calculated by reference to the rate of interest instead of the

Default Interest Rate;

iii)

any sum due but unpaid under

Clause 9.2

(Payment of interest) and

any unpaid sum which would have been due under

Clause 9.2

(Payment of interest) but which instead has become due under

(Illegality), Clause 8.2 (Material Export Contract

Change),

Clause 8.4

(E&S Incident), or

(Acceleration);

iv)

any sum due but unpaid under

(Increased Costs);

any sum due but unpaid under

Clause 7

(Repayment) and any

unpaid sum which would have been due under

Clause 7

(Repayment) but which instead has become due under

(Illegality),

Clause 8.2

(Material Export Contract Change), Clause

8.4 (E&S Incident) or

(Acceleration);

vi)

the remainder of the sums due but unpaid under

(Default

interest) in respect of the sums described in paragraphs (iii), (iv) and

above that were not applied further to paragraph (ii) above;

vii)

any sum due but unpaid under

Clause 10.4

(Break Costs); and

viii)

any other sum due but unpaid under this Agreement.

The Agent shall, if so directed by the Lender, vary the order set out in

paragraph (a) above.

Paragraphs (a) and (b) above will override any appropriation made by the

Borrower.

Clause26.8

No set-off by the Borrower

All payments to be made by the Borrower under the Finance Documents

shall be calculated and be made without (and free and clear of any

deduction for) set-off or counterclaim.

Clause26.9

Business Days

Any payment under the Finance Documents which is due to be made on a

day that is not a Business Day shall be made on the next Business Day in

the same calendar month (if there is one) or the preceding Business Day (if

there is not).

During any extension of the due date for payment of any principal or Unpaid

Sum under this Agreement interest is payable on the principal or Unpaid

Sum at the rate payable on the original due date.

Clause26.10

Currency of account

Subject to paragraphs (b) and (c) below, the Facility Currency is the

currency of account and payment for any sum due from the Borrower under

any Finance Document.

Each payment in respect of costs, expenses or Taxes shall be made in the

currency in which the costs, expenses or Taxes are incurred.

Any amount expressed to be payable in a currency other than the Facility

Currency shall be paid in that other currency.

Clause26.11

Change of currency

Unless otherwise prohibited by law, if more than one currency or currency

unit are at the same time recognised by the central bank of any country as

the lawful currency of that country, then:

any reference in the Finance Documents to, and any obligations

arising under the Finance Documents in, the currency of that country

shall be translated into, or paid in, the currency or currency unit of

that country designated by the Agent (after consultation with the

Borrower); and

ii)

any translation from one currency or currency unit to another shall

be at the official rate of exchange recognised by the central bank for

the conversion of that currency or currency unit into the other,

rounded up or down by the Agent (acting reasonably).

If a change in any currency of a country occurs, this Agreement will, to the

extent the Agent (acting reasonably and after consultation with the

Borrower) specifies to be necessary, be amended to comply with any

generally accepted conventions and market practice in the Relevant Market

and otherwise to reflect the change in currency.

Clause26.12

Disruption to payment systems etc.

If either the Agent determines (in its discretion) that a Disruption Event has

occurred or the Agent is notified by the Borrower that a Disruption Event

has occurred:

the Agent 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 the Facility as the

Agent may deem necessary in the circumstances;

the Agent shall not be obliged to consult with the Borrower in

relation to any changes mentioned in paragraph (a) above 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;

the Agent may consult with the Finance Parties in relation to any

changes mentioned in paragraph (a) above but shall not be obliged

to do so if, in its opinion, it is not practicable to do so in the

circumstances;

any such changes agreed upon by the Agent and the Borrower shall

(whether or not it is finally determined that a Disruption Event has

occurred) be binding upon the Parties as an amendment to (or, as

the case may be, waiver of) the terms of the Finance Documents

notwithstanding the provisions of

Clause 32

(Amendments and

waivers);

the Agent shall not be liable for any damages, costs or losses to any

person, any diminution in value or any liability whatsoever (including,

without limitation for negligence, gross negligence or any other

category of liability whatsoever but not including any claim based on

the fraud of the Agent) arising as a result of its taking, or failing to

take, any actions pursuant to or in connection with this Clause

26.12; and

the Agent shall notify the Finance Parties of all changes agreed

pursuant to paragraph (d) above.

27.

SET-OFF

A Finance Party may set off any matured obligation due from the Borrower

under the Finance Documents (to the extent beneficially owned by that

Finance Party) against any matured obligation owed by that Finance Party

to the Borrower, regardless of the place of payment, booking branch or currency of either obligation. If the obligations are in different currencies,

the Finance Party may convert either obligation at a market rate of

exchange in its usual course of business for the purpose of the set-off.

28.Čl. 28.1–28.6

NOTICES

Clause28.1

Communications in writing

Any communication to be made under or in connection with the Finance

Documents shall be made in writing and, unless otherwise stated, may be

made by letter or, subject to

(Electronic communication), email.

Clause28.2

Contact details

The address (and the department or officer, if any, for whose attention the

communication is to be made) of each Party for any communication or

document to be made or delivered under or in connection with the Finance

Documents is:

in the case of the Borrower and the Agent, those identified with its

name on the signatories pages;

in the case of each Arranger, that notified in writing to the Agent on

or prior to the date on which it becomes a Party; and

in the case of each Lender, that notified in writing to the Agent on or

prior to the date on which it becomes a Party,

or any substitute address or department or officer as the Party may notify to

the Agent (or the Agent may notify to the other Parties, if a change to its

own contact details is made by the Agent) by not less than five (5) Business

Days' notice.

Clause28.3

Delivery

Any communication or document made or delivered by one person to

another under or in connection with the Finance Documents will only be

effective when it has been left at the relevant address or five (5) Business

Days after being deposited in the post postage prepaid in an envelope

addressed to it at that address, and, if a particular department or officer is

specified as part of its address details provided under

(Contact

details), if addressed to that department or officer.

Any communication or document to be made or delivered to the Agent will

be effective only when actually received by the Agent and then only if it is

expressly marked for the attention of the department or officer identified

with the Agent's signature on the Agent's signature page (or any substitute

department or officer as the Agent shall specify for this purpose).

All notices from or to the Borrower shall be sent through the Agent.

Any communication or document which becomes effective, in accordance

with paragraphs (a) to (c) above, after 5.00 p.m. in the place of receipt shall

be deemed only to become effective on the next Business Day.

Clause28.4

Notification of contact details

Promptly upon changing its own address, the Agent shall notify the other

Parties.

Clause28.5

Electronic communication

Any communication or document to be made or delivered by one Party to

another under or in connection with the Finance Documents may be made

or delivered by electronic mail or other electronic means (including without

limitation, by way of posting to a secure website) if those two Parties:

notify each other in writing of their electronic communication

address and/or any other information required to enable the

transmission of information by that means; and

ii)

notify each other of any change to their address or any other such

information supplied by them by not less than five (5) Business

Days' notice.

Any such electronic communication or delivery as specified in paragraph (a)

above to be made between the Borrower and a Finance Party may only be

made in that way to the extent that those two Parties agree that, unless and

until notified to the contrary, this is to be an accepted form of

communication or delivery.

Any such electronic communication or document as specified in paragraph

above made or delivered by one Party to another will be effective only

when actually received (or made available) in readable form and, in the

case of any electronic communication or document, made or delivered by a

Party to the Agent only if it is addressed in such a manner as the Agent

shall specify for this purpose.

Any electronic communication or document which becomes effective, in

accordance with paragraph (c) above, after 5:00 p.m. in the place in which

the Party to whom the relevant communication or document is sent or made

available has its address for the purpose of this Agreement shall be

deemed only to become effective on the following Business Day.

Any reference in a Finance Document to a communication being sent or

received or a document being delivered shall be construed to include that communication or document being made available in accordance with this

Clause 28.5.

Clause28.6

English language

Any notice given under or in connection with any Finance Document must

be in English.

All other documents provided under or in connection with any Finance

Document must be:

in English; or

ii)

if not in English, and if so required by the Agent, accompanied by a

certified English translation and, in this case, the English translation

will prevail unless the document is a constitutional, statutory or other

official document.

29.Čl. 29.1–29.3

CALCULATIONS AND CERTIFICATES

Clause29.1

Accounts

In any litigation or arbitration proceedings arising out of or in connection

with a Finance Document, the entries made in the accounts maintained by

a Finance Party are prima facie evidence of the matters to which they

relate.

Clause29.2

Certificates and determinations

Any certification or determination by a Finance Party of a rate or amount

under any Finance Document is, in the absence of manifest error,

conclusive evidence of the matters to which it relates.

Clause29.3

Day count convention

Any interest, commission or fee accruing under a Finance Document will

accrue from day to day and is calculated on the basis of the actual number

of days elapsed and a year of three hundred and sixty (360) days or, in any

case where the practice in the Relevant Market differs, in accordance with

that market practice.

30.

PARTIAL INVALIDITY

If, at any time, any provision of a Finance Document is or becomes illegal,

invalid or unenforceable in any respect under any law of any jurisdiction,

neither the legality, validity or enforceability of the remaining provisions nor

the legality, validity or enforceability of such provision under the law of any

other jurisdiction will in any way be affected or impaired.

31.

REMEDIES AND WAIVERS

No failure to exercise, nor any delay in exercising, on the part of any

Finance Party, any right or remedy under a Finance Document shall

operate as a waiver of any such right or remedy or constitute an election to

affirm any of the Finance Documents. No election to affirm any of the

Finance Documents on the part of any Finance Party shall be effective

unless it is in writing. No single or partial exercise of any right or remedy

shall prevent any further or other exercise or the exercise of any other right

or remedy. The rights and remedies provided in each Finance Document

are cumulative and not exclusive of any rights or remedies provided by law.

32.Čl. 32.1–32.4

AMENDMENTS AND WAIVERS

Clause32.1

Required consents

Subject to

(UKEF Guarantee),

Clause 32.2

(All Lender matters)

and

Clause 32.3

(Other exceptions) any term of the Finance Documents

may be amended or waived only with the consent of the Majority Lenders

and the Borrower and any such amendment or waiver will be binding on all

Parties.

The Agent may effect, on behalf of any Finance Party, any amendment or

waiver permitted by this

Clause 32.

Without prejudice to the generality of paragraphs (c), (d) and (e) of Clause

23.7 (Rights and discretions), the Agent may engage, pay for and rely on

the services of lawyers in determining the consent level required for and

effecting any amendment, waiver or consent under this Agreement.

Clause32.2

All Lender matters

Subject to

Clause 32.4

(Replacement of Screen Rate) an amendment or

waiver of any term of any Finance Document that has the effect of changing

or which relates to:

the definition of "Majority Lenders" in

Clause 1.1

(Definitions);

an extension to the date of payment of any amount under the

Finance Documents;

a reduction in the Margin or a reduction in the amount of any

payment of principal, interest, fees or commission payable;

a change in currency of payment of any amount under the Finance

Documents;

an increase in any Commitment or the Total Commitments, an

extension of the Availability Period or any requirement that a

cancellation of Commitments reduces the Commitments of the

Lenders rateably under the Facility;

a change to the Borrower;

any provision which expressly requires the consent of all the

Lenders;

any provision relating to Sanctions Laws and Regulations or Anti-

Corruption Laws; or

Clause 3.2

(Finance Parties' rights and obligations),

Clause 6.1

(Utilisation of the Facility),

(Illegality),

Clause 8.9

(Application of prepayments),

(Changes to the Lenders),

Clause 25

(Sharing among the Finance Parties), this

Clause 32

(Amendments and Waivers),

Clause 38

(Governing law), the

governing law of any Finance Document, or

Clause 39

(Jurisdiction),

shall not be made without the prior consent of all the Lenders.

Clause32.3

Other exceptions

An amendment or waiver which relates to the rights or obligations of the

Agent or any Arranger (each in their capacity as such) may not be effected

without the consent of the Agent or the relevant Arranger, as the case may

be.

Clause32.4

Replacement of Screen Rate

Subject to

Clause 32.3

(Other exceptions), if a Screen Rate Replacement

Event has occurred in relation to any Screen Rate for the currency of the

Loan, any amendment or waiver which relates to:

providing for the use of a Replacement Benchmark;

(b)

aligning any provision of any Finance Document to the use of that

Replacement Benchmark;

ii)

enabling that Replacement Benchmark to be used for the calculation

of interest under this Agreement (including, without limitation, any

consequential changes required to enable that Replacement

Benchmark to be used for the purposes of this Agreement);

iii)

implementing market conventions applicable to that Replacement

Benchmark;

iv)

providing for appropriate fallback (and market disruption) provisions

for that Replacement Benchmark; or

adjusting the pricing to reduce or eliminate, to the extent reasonably

practicable, any transfer of economic value from one Party to

another as a result of the application of that Replacement

Benchmark (and if any adjustment or method for calculating any

adjustment has been formally designated, nominated or

recommended by the Relevant Nominating Body, the adjustment

shall be determined on the basis of that designation, nomination or

recommendation),

may be made with the consent of the Agent (acting on the instructions of

the Majority Lenders, UK Export Finance and the Borrower).

33.Čl. 33.1–33.10

CONFIDENTIAL INFORMATION

Clause33.1

Confidential Information

Each Finance Party agrees to keep all Confidential Information confidential

and not to disclose it to anyone, save to the extent permitted by Clause

33.2 (Disclosure of Confidential Information), and to ensure that all

Confidential Information is protected with security measures and a degree

of care that would apply to its own confidential information.

Clause33.2

Disclosure of Confidential Information

Any Finance Party may disclose:

to any of its Affiliates and Related Funds and any of its or their

officers, directors, employees, professional advisers, auditors,

partners and Representatives such Confidential Information as that

Finance Party shall consider appropriate if any person to whom the

Confidential Information is to be given pursuant to this paragraph (a)

is informed in writing of its confidential nature and that some or all of

such Confidential Information may be price-sensitive information

except that there shall be no such requirement to so inform if the

recipient is subject to professional obligations to maintain the

confidentiality of the information or is otherwise bound by

requirements of confidentiality in relation to the Confidential

Information;

to any person:

(i)

to (or through) whom it assigns or transfers (or may

potentially assign or transfer) all or any of its rights and/or obligations under one or more Finance Documents or which

succeeds (or which may potentially succeed) it as Agent and,

in each case, to any of that person's Affiliates, Related Funds,

Representatives and professional advisers;

ii)

with (or through) whom it enters into (or may potentially enter

into), whether directly or indirectly, any sub-participation in

relation to, or any other transaction under which payments

are to be made or may be made by reference to, one or more

Finance Documents and/or the Borrower and to any of that

person's Affiliates, Related Funds, Representatives and

professional advisers;

iii)

appointed by any Finance Party or by a person to whom

paragraph (i) or (ii) above applies to receive communications,

notices, information or documents delivered pursuant to the

Finance Documents on its behalf (including, without limitation,

any person appointed under paragraph (b) of

Clause 23.15

(Relationship with the Lenders));

iv)

who invests in or otherwise finances (or may potentially invest

in or otherwise finance), directly or indirectly, any transaction

referred to in paragraph (i) or (ii) above;

to whom information is required or requested to be disclosed

by any court of competent jurisdiction or any governmental,

banking, taxation or other regulatory authority or similar body,

the rules of any relevant stock exchange or pursuant to any

applicable law or regulation;

vi)

to whom information is required to be disclosed in connection

with, and for the purposes of, any litigation, arbitration,

administrative or other investigations, proceedings or

disputes;

vii)

to whom or for whose benefit that Finance Party charges,

assigns or otherwise creates Security (or may do so)

pursuant to

Clause 21.8

(Security over Lenders' rights);

viii)

who is a Party;

ix)

who is the Exporter; or

with the consent of the Borrower, in each case, such Confidential Information as that Finance Party

shall consider appropriate if:

(A) in relation to paragraphs (i), (ii) and (iii) above, the person to whom the Confidential Information is to be given has entered into a Confidentiality Undertaking except that there shall be no requirement for a Confidentiality Undertaking if the recipient is a professional adviser and is subject to professional obligations to maintain the confidentiality of the Confidential Information;

(B) in relation to paragraph (iv) above, the person to whom the Confidential Information is to be given has entered into a Confidentiality Undertaking or is otherwise bound by requirements of confidentiality in relation to the Confidential Information they receive and is informed that some or all of such Confidential Information may be price- sensitive information; and

(C) in relation to paragraphs (v), (vi) and (vii) above, the person to whom the Confidential Information is to be given is informed of its confidential nature and that some or all of such Confidential Information may be price- sensitive information except that there shall be no requirement to so inform if, in the opinion of that Finance Party, it is not practicable so to do in the circumstances;

to UK Export Finance;

to any person appointed by that Finance Party or by a person to

whom paragraph (b)(i) or (ii) above applies to provide administration

or settlement services in respect of one or more of the Finance

Documents including without limitation, in relation to the trading of

participations in respect of the Finance Documents, such

Confidential Information as may be required to be disclosed to

enable such service provider to provide any of the services referred

to in this paragraph (d) if the service provider to whom the

Confidential Information is to be given has entered into a

Confidentiality Undertaking; or

to any rating agency (including its professional advisers) such

Confidential Information as may be required to be disclosed to

enable such rating agency to carry out its normal rating activities in

relation to the Finance Documents and/or the Borrower if the rating

agency to whom the Confidential Information is to be given is informed of its confidential nature and that some or all of such

Confidential Information may be price-sensitive information.

Clause33.3

Disclosure to numbering service providers

Any Finance Party may disclose to any national or international numbering

service provider appointed by that Finance Party to provide identification

numbering services in respect of this Agreement, the Facility and/or the

Borrower the following information:

name of the Borrower;

ii)

country of domicile of the Borrower;

iii)

place of incorporation of the Borrower;

iv)

date of this Agreement;

Clause 38

(Governing law);

vi)

the names of the Agent and the Arrangers;

vii)

date of each amendment and restatement of this Agreement;

viii)

amount of the Facility;

ix)

amount of Total Commitments;

currency of the Facility;

xi)

type of the Facility;

xii)

ranking of the Facility;

xiii)

scheduled final repayment date of the Facility;

xiv)

changes to any of the information previously supplied pursuant to

paragraphs (i) to (xiii) above; and

xv)

such other information agreed between such Finance Party and the

Borrower,

to enable such numbering service provider to provide its usual syndicated

loan numbering identification services.

The Parties acknowledge and agree that each identification number

assigned to this Agreement, the Facility and/or the Borrower by a

numbering service provider and the information associated with each such

number may be disclosed to users of its services in accordance with the

standard terms and conditions of that numbering service provider.

The Borrower represents that none of the information set out in paragraphs

(a)(i) to (xv) above is, nor will at any time be, unpublished price-sensitive

information.

The Agent shall notify the Borrower and the other Finance Parties of:

(i)

the name of any numbering service provider appointed by the Agent

in respect of this Agreement, the Facility and the Borrower; and

ii)

the number or, as the case may be, numbers assigned to this

Agreement, the Facility and the Borrower by such numbering

service provider.

Clause33.4

Disclosure by UK Export Finance

The Parties acknowledge and agree that nothing in this Agreement shall

prevent UK Export Finance from disclosing Confidential Information:

to UK Export Finance's employees, agents, consultants, advisers

and contractors, any of UK Export Finance's insurers and/or

reinsurers and any other party with whom UK Export Finance may

potentially enter into insurance or reinsurance arrangements

(including their agents, brokers and consultants);

to any successor body or company to which UK Export Finance

transfers or proposes to transfer all or any part of its business;

to any person to whom information is required or requested to be

disclosed:

by any court of competent jurisdiction or any governmental,

banking, taxation or other regulatory authority or similar body,

the rules of any relevant stock exchange or pursuant to any

applicable law or regulation;

ii)

in connection with, and for the purposes of, any litigation,

arbitration, administrative or other investigations, proceedings

or disputes; or

iii)

by an international organisation of which UK Export Finance

or the United Kingdom is a member;

to any other UK government department and otherwise to the extent

that UK Export Finance deems disclosure to be necessary or

appropriate in connection with carrying out its public functions and

duties;

for any examination pursuant to section 6(1) of the National Audit

Act 1983 of the economy, efficiency and effectiveness with which UK

Export Finance has used its resources;

to the Serious Fraud Office, the National Crime Agency or any other

authority in connection with any breach, or potential breach, of

applicable law or regulation;

in publishing in UK Export Finance's annual report, on its website or

elsewhere details of the names of the Buyer and the Exporter and

the country in which the Export Contract is to be performed, a short

description of the items supplied under the Export Contract or the

Project, the type and amount of UK Export Finance support provided

and the potential environmental and/or social impact category that

UK Export Finance has assigned to the Project; or

to any person with the consent of the Borrower (such consent not to

be unreasonably withheld or delayed).

Clause33.5

Freedom of Information

Each Party acknowledges that UK Export Finance is subject to the

requirements of the Information Legislation and will provide all necessary

assistance and cooperation as requested by UK Export Finance to enable

UK Export Finance to comply with its obligations under the Information

Legislation.

Each Party acknowledges that UK Export Finance may be required under

the Information Legislation to disclose Information concerning any Party

(including Confidential Information and commercially sensitive information)

without consulting or obtaining consent from that Party. Notwithstanding

this, if UK Export Finance receives a request under the Information

Legislation to disclose Information concerning any Party, UK Export

Finance will endeavour, in accordance with any relevant guidance issued

under the Information Legislation and to the extent that it is lawful for UK

Export Finance to do so, to:

prior to the making of a disclosure pursuant to the Information

Legislation provide the relevant Party with details of the request

received and give that Party an opportunity to make representations

on the applicability of any exemption in the Information Legislation in

relation to the Information which has been requested;

ii)

consider any such representations received from that Party; and

iii)

if UK Export Finance determines that disclosure pursuant to the

Information Legislation is required, advise that Party of the scope

and content of any disclosure in advance of disclosing that

information.

UK Export Finance will be responsible for determining in its absolute

discretion whether any Information relating to any Party is exempt from

disclosure in accordance with the Information Legislation.

Clause33.6

Disclosure to the Exporter

Subject to

Clause 33.2

(Disclosure of Confidential Information), each Party

agrees that the Agent may disclose the form (whether in draft or final

agreed version) of the Exporter Payment Request, the Exporter Receipt

and any terms of this Agreement for the sole purpose of enabling the

Exporter to request a payment and for such payment to be made to the

Exporter.

Clause33.7

Entire agreement

This

constitutes the entire agreement between the Parties in

relation to the obligations of the Finance Parties under the Finance

Documents regarding Confidential Information and supersedes any

previous agreement, whether express or implied, regarding Confidential

Information.

Clause33.8

Inside information

Each of the Finance Parties acknowledges that some or all of the

Confidential Information is or may be price-sensitive information and that

the use of such information may be regulated or prohibited by applicable

legislation including securities law relating to insider dealing and market

abuse and each of the Finance Parties undertakes not to use any

Confidential Information for any unlawful purpose.

Clause33.9

Notification of disclosure

Each of the Finance Parties agrees (to the extent permitted by law and

regulation) to inform the Borrower:

of the circumstances of any disclosure of Confidential Information

made pursuant to paragraph (b)(v) of

Clause 33.2

(Disclosure of

Confidential Information) except where such disclosure is made to

any of the persons referred to in that paragraph during the ordinary

course of its supervisory or regulatory functions; and

upon becoming aware that Confidential Information has been

disclosed in breach of this

Clause 33.

Clause33.10

Continuing obligations

The obligations in this

are continuing and, in particular, shall

survive and remain binding on each Finance Party for a period of twelve

12)

months from the earlier of:

the date on which all amounts payable by the Borrower under or in

connection with this Agreement have been paid in full and all

Commitments have been cancelled or otherwise cease to be

available; and

the date on which such Finance Party otherwise ceases to be a

Finance Party.

34.Čl. 34.1–34.3

CONFIDENTIALITY OF FUNDING RATES

Clause34.1

Confidentiality and disclosure

The Agent and the Borrower agree to keep each Funding Rate confidential

and not to disclose it to anyone, save to the extent permitted by paragraphs

and (c) below.

The Agent may disclose:

(i)

any Funding Rate to the Borrower pursuant to

Clause 9.5

(Notification of rates of interest); and

ii)

any Funding Rate to any person appointed by it to provide

administration services in respect of one or more of the Finance

Documents to the extent necessary to enable such service provider

to provide those services if the service provider to whom that

information is to be given has entered into a Confidentiality

Undertaking.

The Agent may disclose any Funding Rate, and the Borrower may disclose

any Funding Rate, to:

any of its Affiliates and any of its or their officers, directors,

employees, professional advisers, auditors, partners and

Representatives if any person to whom that Funding Rate is to be

given pursuant to this paragraph (i) is informed in writing of its

confidential nature and that it may be price-sensitive information

except that there shall be no such requirement to so inform if the

recipient is subject to professional obligations to maintain the

confidentiality of that Funding Rate or is otherwise bound by

requirements of confidentiality in relation to it;

ii)

any person to whom information is required or requested to be

disclosed by any court of competent jurisdiction or any

governmental, banking, taxation or other regulatory authority or

similar body, the rules of any relevant stock exchange or pursuant to

any applicable law or regulation if the person to whom that Funding

Rate is to be given is informed in writing of its confidential nature

and that it may be price-sensitive information except that there shall

be no requirement to so inform if, in the opinion of the Agent or the

Borrower, as the case may be, it is not practicable to do so in the

circumstances;

iii)

any person to whom information is required to be disclosed in

connection with, and for the purposes of, any litigation, arbitration,

administrative or other investigations, proceedings or disputes if the

person to whom that Funding Rate is to be given is informed in

writing of its confidential nature and that it may be price-sensitive

information except that there shall be no requirement to so inform if,

in the opinion of the Agent or the Borrower, as the case may be, it is

not practicable to do so in the circumstances; and

iv)

any person with the consent of the relevant Lender.

Clause34.2

Related obligations

The Agent and the Borrower acknowledge that each Funding Rate is or

may be price-sensitive information and that its use may be regulated or

prohibited by applicable legislation including securities law relating to

insider dealing and market abuse and the Agent and the Borrower

undertake not to use any Funding Rate for any unlawful purpose.

The Agent and the Borrower agree (to the extent permitted by law and

regulation) to inform the relevant Lender:

of the circumstances of any disclosure made pursuant to paragraph

(c)(ii) of

Clause 34.1

(Confidentiality and disclosure) except where

such disclosure is made to any of the persons referred to in that

paragraph during the ordinary course of its supervisory or regulatory

function; and

ii)

upon becoming aware that any information has been disclosed in

breach of this

Clause 34.

Clause34.3

No Event of Default

No Event of Default will occur under

Clause 20.2

(Other obligations) by

reason only of the Borrower's failure to comply with this

Clause 34.

35.

COUNTERPARTS

Each Finance Document may be executed in any number of counterparts,

and this has the same effect as if the signatures on the counterparts were

on a single copy of the Finance Document.

36.

GOVERNING LANGUAGE

Although this Agreement may be translated into any other language than

English, such non-English version of this Agreement is for information

purposes only. In the event of any conflict or inconsistency between the

English language version and such non-English version of this Agreement

or any Dispute regarding the interpretation of any provision in the English

language version or non-English version of this Agreement, the English

language version of this Agreement shall prevail and questions of

interpretation shall be addressed solely by reference to the English

language version.

37.

CONTRACTUAL RECOGNITION OF BAIL-IN

It is agreed that notwithstanding any other term of any Finance Document

or any other agreement, arrangement or understanding between the

Parties, each Party acknowledges and accepts that any liability of any

Finance Party to any other Party under or in connection with the Finance

Documents may be subject to Bail-In Action by the relevant Resolution

Authority and acknowledges and accepts to be bound by the effect of:

(a)

any Bail-In Action in relation to any such liability, including (without

limitation):

(i)

a reduction, in full or in part, in the principal amount, or outstanding

amount due (including any accrued but unpaid interest) in respect of

any such liability;

(ii) a conversion of all, or part of, any such liability into shares or other

instruments of ownership that may be issued to, or conferred on, it;

(iii) a cancellation of any such liability; and

(iv) a variation of any term in any Finance Document to the extent

necessary to give effect to any Bail-In Action in relation to any such

liability.

(b)

in this

clause 37

(i)

"Article 55 BRRD" means Article 55 of Directive 2014/59/EU

establishing a framework for the recovery and resolution of credit

institutions and investment firms.

(ii) "Bail-In Action" means the exercise of any Write-down and

Conversion Powers.

(iii) "Bail-In Legislation" means:

(A) in relation to an EEA Member Country which has

implemented, or which at any time implements, Article 55

BRRD, the relevant implementing law or regulation as

described in the EU Bail-In Legislation Schedule from time to

time;

(B) in relation to any state other than such an EEA Member

Country and the United Kingdom, any analogous law or

regulation from time to time which requires contractual

recognition of any Write-down and Conversion Powers

contained in that law or regulation; and

(iv) "EEA Member Country" means any member state of the European

Union, Iceland, Liechtenstein and Norway.

(v)

"EU Bail-In Legislation Schedule" means the document described

as such and published by the Loan Market Association (or any

successor person) from time to time.

(vi) "Resolution Authority" means any body which has authority to

exercise any Write-down and Conversion Powers.

(vii) "UK Bail-In Legislation" means Part I of the United Kingdom

Banking Act 2009 and any other law or regulation applicable in the

United Kingdom relating to the resolution of unsound or failing

banks, investment firms or other financial institutions or their

affiliates (otherwise than through liquidation, administration or other

insolvency proceedings).

(viii) "Write-down and Conversion Powers" means:

(A) in relation to any Bail-In Legislation described in the EU Bail-

In Legislation Schedule from time to time, the powers

described as such in relation to that Bail-In Legislation in the

EU Bail-In Legislation Schedule;

(B) in relation to any other applicable Bail-In Legislation other

than the UK Bail-In Legislation:

(1) any powers under that Bail-In Legislation to cancel, transfer or dilute shares issued by a person that is a bank or investment firm or other financial institution or affiliate of a bank, investment firm or other financial institution, to cancel, reduce, modify or change the form of a liability of such a person or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers; and

(2) any similar or analogous powers under that Bail-In Legislation; and

that UK Bail-In Legislation to cancel, transfer or dilute shares

issued by a person that is a bank or investment firm or other

financial institution or affiliate of a bank, investment firm or

other financial institution, to cancel, reduce, modify or change

the form of a liability of such a person or any contract or

instrument under which that liability arises, to convert all or

part of that liability into shares, securities or obligations of that

person or any other person, to provide that any such contract

or instrument is to have effect as if a right had been exercised

under it or to suspend any obligation in respect of that liability

or any of the powers under that UK Bail-In Legislation that are

related to or ancillary to any of those powers.

SECTION 11

GOVERNING LAW AND ENFORCEMENT

38.

GOVERNING LAW

This Agreement and any non-contractual obligations arising out of or in

connection with it are governed by English law.

39.

ARBITRATION

(a)

Arbitration

Subject to paragraph (e) (Agent's option), any dispute arising out of or in

connection with this Agreement (including a dispute relating to the

existence, validity or termination of this Agreement or any non-contractual

obligation arising out of or in connection with this Agreement) (a "Dispute")

shall be referred to and finally resolved by arbitration under the Arbitration

Rules of the London Court of International Arbitration (LCIA).

(b)

Formation of arbitral tribunal, seat and language of arbitration

(i)

The arbitral tribunal shall consist of three arbitrators. The

claimant(s), irrespective of number, shall nominate jointly one

arbitrator; the respondent(s), irrespective of number, shall nominate

jointly the second arbitrator, and a third arbitrator (who shall act as

presiding arbitrator) shall be nominated by the arbitrators nominated

by or on behalf of the claimant(s) and respondent(s) or, in the

absence of agreement on the third arbitrator within thirty (30) days

of the date of nomination of the later of the two party-nominated

arbitrators to be nominated, he shall be chosen by the LCIA Court

(as defined in the Arbitration Rules of the LCIA).

(ii) The seat of arbitration shall be London, England.

(iii) The language of the arbitration shall be English.

(c)

Recourse to courts

For the purposes of arbitration pursuant to this

Clause 39

(Arbitration), the

Parties waive any right of application to determine a preliminary point of law

or appeal on a point of law under Sections 45 and 69 of the Arbitration Act

1996.

(d)

Consolidation of arbitrations

(i)

The following shall apply to any disputes arising out of or in

connection with this Agreement and out of or in connection with any other Finance Document in respect of which a Request for

Arbitration has been delivered (or, where impossible, effectively

notified) to all other parties to the arbitration. In relation to any such

disputes if, in the absolute discretion of the first arbitral tribunal to be

appointed in any of the disputes, they are so closely connected that

it is expedient for them to be resolved in the same proceedings, that

arbitral tribunal shall have the power to order that the proceedings to

resolve that dispute shall be consolidated with those to resolve any

of the other disputes, provided that no date for the final hearing of

the first arbitration has been fixed. If that arbitral tribunal so orders,

the parties to each dispute which is a subject of its order shall be

treated as having consented to that dispute being finally decided:

(A) by the arbitral tribunal that ordered the consolidation unless

the LCIA decides that that arbitral tribunal would not be

suitable or impartial; and

(B) in accordance with the procedure, at the seat and in the

language specified in the relevant Finance Document under

which the arbitral tribunal that ordered the consolidation was

appointed, save as otherwise agreed by all parties to the

consolidated proceedings or, in the absence of any such

agreement, ordered by the arbitral tribunal in the consolidated

proceedings.

Any dispute which is subject to a contractual option to litigate shall

only be capable of consolidation pursuant to this paragraph (i) if:

longer permitted pursuant to the terms upon which the option

was granted; or

(D) the right of the option-holder to exercise the option has

otherwise been validly waived.

(ii) Paragraph (i) above shall apply even where powers to consolidate

proceedings exist under any applicable arbitration rules (including

those of an arbitral institution) and, in such circumstances, the

provisions of paragraph (i) above shall apply in addition to those

powers.

(e)

Agent's option

Before the Finance Parties have delivered to the Registrar of the LCIA

Court a Request for Arbitration or Response as defined in the Arbitration

Rules of the LCIA (as the case may be), the Agent may (and shall, if so

instructed by the Majority Lenders) by notice in writing to all other Parties

require that all Disputes or a specific Dispute be heard by a court of law. If

the Agent gives such notice, the Dispute to which such notice refers shall

be determined in accordance with

Clause 40

(Jurisdiction).

40.

JURISDICTION

If the Agent issues a notice pursuant to Clause 39(e) (Agent's option), the

provisions of this

Clause 40

(Jurisdiction) shall apply.

(a)

The courts of England have exclusive jurisdiction to settle any

Dispute.

(b)

The Parties agree that the courts of England are the most

appropriate and convenient courts to settle Disputes and accordingly

no Party will argue to the contrary.

(c)

Notwithstanding paragraphs (a) and (b) above, no Finance Party

shall be prevented from taking proceedings relating to a Dispute in

any other courts with jurisdiction. To the extent allowed by law, the

Finance Parties may take concurrent proceedings in any number of

jurisdictions.

41.Čl. 41.2

SERVICE OF PROCESS

(a)

Without prejudice to any other mode of service allowed under any relevant

law, the Borrower:

(i)

irrevocably appoints the Ambassador of the Republic of Serbia to

the Court of St. James's at 28 Belgrave Square, London SW1X 8QB

as its agent for service of process in relation to any proceedings

before the English courts in connection with any Finance Document;

and

(ii) agrees that failure by a process agent to notify the Borrower of the

process will not invalidate the proceedings concerned.

(b)

If any person appointed as an agent for service of process is unable for any

reason to act as agent for service of process, the Borrower must

immediately (and in any event within fifteen (15) days of such event taking

place) appoint another agent on terms acceptable to the Agent. Failing this, the Agent may, at the Borrower's cost, appoint another agent for this

purpose.

(c)

The Borrower expressly agrees and consents to the provisions of this

Clause 41

and

Clause 38

(Governing law).

Clause41.2

Waiver of immunity

The Borrower irrevocably waives generally all immunity it or its assets or

revenues may otherwise have in any jurisdiction, including, without

limitation, immunity in respect of:

jurisdiction of any court or tribunal;

ii)

the giving of any relief by way of injunction or order for specific

performance or for the recovery of assets or revenues;

iii)

any process for execution of any award or judgment against its

property;

iv)

service of process; and

the issue of any process against its assets or revenues for the

enforcement of a judgment or, in an action in rem, for the arrest,

detention or sale of any of its assets and revenues,

and to the extent that in any such jurisdiction there may be attributed to

itself or its assets such immunity (whether or not claimed), the Borrower

irrevocably consents to the enforcement of any judgment or award and

agrees not to claim and irrevocably waives such immunity to the fullest

extent permitted by the laws of the jurisdiction, subject to paragraph (d)

below.

The Borrower agrees that in any proceedings in England this waiver shall

have the fullest scope permitted by the English State Immunity Act 1978

and that this waiver is intended to be irrevocable for the purposes of the

English State Immunity Act 1978.

Without limitation to the obligations of the Borrower under paragraphs (a)

and (b) above, in respect of any proceedings arising out of or in connection

with the enforcement and/or execution of any award or judgment made

against it, the Borrower hereby submits to the jurisdiction of any court in

which any such proceedings are brought.

Notwithstanding the provisions of this

Clause 41.2 (a)

to (c) above, the

Borrower does not waive any immunity from enforcement in respect of any

Excluded Assets. This Agreement has been entered into on the date stated at the beginning of this

Agreement.

PriloziPrilozi

Schedule 1

THE ORIGINAL PARTIES

THE ORIGINAL LENDER

Name of Original Lender	Commitment (EUR)
J.P. MORGAN SE	130,000,000
ING BANK N.V.	65,000,000
CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK	65,000,000

← Pomerite tabelu levo/desno za više detalja →

Schedule 2

CONDITIONS PRECEDENT TO INITIAL UTILISATION

1. Borrower Authorisations

(a)

Copies of all relevant laws, regulations and/or Authorisations relating to the

power and authority of the Borrower, the Ministry of Finance, the Minister of

Finance and/or the Acting Minister of Finance (as applicable) and the

performance of the Borrower's obligations under the Finance Documents,

including but not limited to:

(i)

the constitution of the Republic of Serbia; and

(ii) Public Debt Act (Zakon o javnom dugu, Official Gazette of the

Republic of Serbia nos. 61/2005, 107/2009, 78/2011, 68/2015,

95/2018, 91/2019 and 149/2020), the Budget System Act (Zakon o

budžetskom sistemu, Official Gazette of the Republic of Serbia nos.

54/2009, 73/2010, 101/2010, 101/2011, 93/2012, 62/2013, 63/2013,

108/2013, 142/2014, 68/2015, 103/2015, 99/2016, 113/2017,

5/2018, 31/2019, 72/2019, 149/2020 and 94/2024) and the Morava

Corridor Law.

(b)

A certified copy of a decision of the Government of the Republic of Serbia:

(i)

approving the borrowing by the Borrower under this Agreement and the

Finance Documents; (ii) authorizing the Minister of Finance of the Republic

of Serbia to execute the Finance Documents on behalf of the Republic of

Serbia.

(c)

An evidence of the enactment by the National Assembly of the Republic of

Serbia of the law approving this Agreement (together with evidence of such

law being promulgated by the President of the Republic of Serbia and

published in the Official Gazette of the Republic of Serbia).

(d)

A certified copy of KZ forms (in Serbian: "KZ obrasci") evidencing that this

Agreement has been duly reported to the NBS.

(e)

A certificate of an authorised signatory of the Borrower:

(i)

certifying that each copy document relating to it specified in this

Schedule is correct, complete and in full force and effect as at a date

no earlier than the date of this Agreement; and

(ii) confirming that the borrowing of the full amount of the Facility would

not cause any borrowing, guaranteeing or similar limit binding on the

Borrower or the Republic of Serbia to be breached.

(f)

A specimen signature of each person authorised in the manner described in

paragraph (b) above.

2. Buyer Authorisations

(a)

A certified copy of the constitutional documents of the Buyer.

(b)

A certified copy of a resolution of the shareholders' assembly of the Buyer

(together with the proposal of the Director):

(i)

approving the terms of, and the transactions contemplated by the

Export Contract; and

(ii) authorising a specified person or persons to execute the Export

Contract.

(c)

A specimen of the signature for each person authorized in the manner

described above.

(d)

A certificate of an authorised signatory of the Buyer certifying that each

copy document relating to it specified in this Schedule is correct, complete

and in full force and effect as at a date no earlier than the date of this

Agreement.

3. Finance Documents

(a)

An original of each Finance Document duly entered into by the parties to it.

(b)

Evidence that each such Finance Document has been duly authorised,

executed and delivered by each party thereto and in full force and effect,

with, if applicable, evidence that any stamp duties have been duly paid in

relation to each such Finance Document and that such Finance Document

has been registered with the appropriate authorities in the Republic of

Serbia.

(c)

A certified Serbian translation of this Agreement.

4. Export Contract and Exporter Related Authorisations

(a)

A copy of the Export Contract and any amendment to it, each duly executed

by the parties and certified to be true, accurate and complete by the Buyer

and the Exporter.

(b)

In respect of the Buyer:

(i)

evidence that the signatory who signed the Export Contract on

behalf of the Buyer was duly authorised to sign it; and

(ii) evidence that the Buyer has obtained all Authorisations in the

Republic of Serbia necessary for the purchase and import of the

goods and services to be supplied under the Export Contract and

that such Authorisations remain in full force and effect.

(c)

In respect of the Exporter:

(i)

evidence that each signatory who signed the Export Contract on

behalf of the Exporter and its Affiliates which are signatories thereto

was duly authorised to sign it;

(ii) the name of a specified person or persons who are duly authorised

on its behalf to sign and/or despatch documents related to this

Agreement including any appendix to a Utilisation Request together

with evidence of their authority;

(iii) a specimen signature of each person authorised in the manner

described in paragraph (ii) above; and

(iv) evidence that each signatory who signed the exporter agreement

entered into between the Exporter and UK Export Finance was duly

authorised to sign it.

(d)

The Exporter shall have provided to the Agent:

(i)

evidence that the Performance Security (as defined in the Export

Contract) referred to in clause 4.2 of the Particular Conditions of

Contract of the Export Contract has been duly executed in

accordance with the terms of the Export Contract;

(ii) written confirmation that all Authorisations (if any), including export

licences (if required), in respect of the goods and/or services to be

supplied in accordance with the Export Contract have been obtained

and remain in full force and effect; and

(iii) a copy of any relevant export licences.

5. Legal opinions

(a)

A legal opinion of Ashurst LLP, legal advisers to the Finance Parties in

England, in the form and substance acceptable to UK Export Finance and

the Agent and distributed to, and capable of being relied on by, the Original

Lender and UK Export Finance prior to signing this Agreement.

(b)

A legal opinion of BDK Advokati, legal advisers to the Finance Parties in the

Republic of Serbia, in the form and substance acceptable to UK Export Finance and the Agent and distributed to, and capable of being relied on by,

the Original Lender and UK Export Finance prior to signing this Agreement.

(c)

A legal opinion from the Ministry of Justice of the Republic of Serbia.

(d)

Any other legal opinion requested by any Finance Party.

6. UK Export Finance documents

(a)

A copy of the UKEF Guarantee duly executed by the parties to it.

(b)

Receipt by UK Export Finance, in a form satisfactory to it, of:

(i)

letters of undertaking duly executed by each Finance Party; and

(ii) the exporter agreement entered into between the Exporter and its

Affiliates which are signatories thereto and UK Export Finance.

7. Other documents and evidence

(a)

Evidence that any process agent referred to in

Clause 41

(Service of

process) has accepted its appointment.

(b)

A copy of any other Authorisation or other document, opinion or assurance

which the Agent considers to be necessary or desirable (if it has notified the

Borrower accordingly) in connection with the entry into and performance of

the transactions contemplated by the Finance Documents or for the validity

and enforceability of any Finance Document.

(c)

Evidence that the fees, costs and expenses due from the Borrower

pursuant to

Clause 11

(Fees) and

Clause 16

(Costs and expenses) have

been paid or will be paid on or before the first Utilisation Date.

(d)

Evidence that each Original Lender's "know your customer" and client

adoption requirements have been completed.

(e)

Any actions or documents requested by UK Export Finance to complete the

Construction Phase E&S Management Plan have been undertaken or

delivered (as applicable).

(f)

Evidence that any actions required to be undertaken before the first

Utilisation Date pursuant to the Environmental and Social Action Plan

and/or the Construction Phase E&S Management Plan have been duly

undertaken.

(g)

A certified copy of the duly executed revised IESC Contract(s) in form and

substance acceptable to UK Export Finance together with confirmation from the IESC(s) entitling UK Export Finance to rely on its (or, if applicable, their)

reports and plans.

(h)

A copy of the Side Letter duly executed by the parties to it.

Schedule 3

UTILISATION REQUESTS

PART A

FORM OF REIMBURSEMENT REQUEST

From: [Borrower]

To: [Agent]

Dated: [●]

Reimbursement Request No. [●]

1. We refer to:

(a)

the contract for [short description of export] dated [●] and made between

[Exporter] (the "Exporter") and [Buyer] (the "Buyer"), as amended from

time to time (the "Export Contract"); and

(b)

the facility agreement dated [●] made between, inter alia, [Borrower] (the

"Borrower"), the financial institutions listed therein as original lenders and

[Agent] (the "Agent") as amended from time to time (the "Facility

Agreement").

2. This is a "Reimbursement Request" as defined in the Facility Agreement.

3. Terms defined in the Facility Agreement have the same meaning in this

Reimbursement Request unless given a different meaning in this

Reimbursement Request. 4. We would like to borrow by way of Loan the amount set out below on the

date set out below:

Proposed Utilisation Date: [●] (or, if that is not a Business Day, the next

Business Day)

Amount: [●] [in the Facility Currency]

5. This Reimbursement Request is irrevocable.

6. We confirm that each condition specified in

Clause 5.2

(Further conditions

precedent) of the Facility Agreement is satisfied on the date of this

Reimbursement Request. 7. We enclose an acknowledgement, in the form attached in the appendix to

this Reimbursement Request, from the Exporter ("Exporter's Receipt") in respect of the payment for the goods and/or services described in

paragraph 9 below supplied to the Buyer by the Exporter under the Export

Contract.

8. We represent and warrant that:

(a)

the Borrower or the Buyer has made the payment(s) set out in paragraph 9

below for goods and/or services supplied to the Buyer under the Export

Contract;

(b)

the amount requested under paragraph 4 above does not, when added to

any Loans made under the Facility Agreement, exceed the Available

Facility;

(c)

the amount requested under paragraph 4 above does not include any

amount which has already been requested in any other Reimbursement

Request or which has been the subject of a Payment Request;

(d)

the Export Contract is in full force and effect and has not been suspended,

terminated, cancelled or repudiated (in each case, in whole or in part); and

(e)

the copies of the documents attached to this Reimbursement Request are

true copies of the original documents.

9. Payments:

Date of Invoice	Invoice Number	Goods/Services	Payment Due
[●]	[●]	[●]	[●]
[●]	[●]	[●]	[●]

← Pomerite tabelu levo/desno za više detalja →

10. The payment of the amount requested under paragraph 4 above should be

made into the following bank account: [account].

11. We attach copies of the Exporter's invoice(s) to the Buyer in respect of the

payments set out in paragraph 9 above.

12. We undertake to provide any other documentation reasonably requested by

the Agent from time to time in connection with this Reimbursement

Request.

Yours faithfully

[For and on behalf of [Borrower]

Signature:* …………………………………

Name: …………………………………

Position: …………………………………

Date: …………………………………

*Signature of Borrower's Signatory

Appendix to Reimbursement Request

Form of Exporter Receipt

From: [Exporter]

To: [Agent]

Dated: [●]

Exporter's Receipt No. [●]

Dear Addressee,

1. We refer to:

(a)

the contract for [short description of export] dated [●] and made between

[Exporter] (the "Exporter") and [Buyer] (the "Buyer"), as amended from

time to time (the "Export Contract"); and

(b)

the facility agreement dated [●] and made between, inter alia, [Borrower]

(the "Borrower"), the financial institutions listed therein as original lenders

and [Agent] (the "Agent") as amended from time to time (the "Facility

Agreement").

2. Terms defined in the Facility Agreement have the same meaning in this

receipt unless given a different meaning in this Exporter Receipt.

3. In this Exporter Receipt:

"Authorisation" means an authorisation, consent, permit, approval,

resolution, licence, exemption, filing, notarisation or registration.

"Exported Element Value" means the value of the Export Contract less the

cost to the Exporter of procuring any Local Supplies.

"Integrated Goods" means:

(i)

in the case of Local Supplies, Local Supplies that are or will be

integrated with other goods in the UK to produce goods that are or

will be eligible for a certificate of UK origin from a British Chamber of

Commerce; and

(ii) in the case of Third Country Supplies, Third Country Supplies that

are or will be integrated with other goods in the UK to produce

goods that are or will be eligible for a certificate of UK origin from a

British Chamber of Commerce.

"Local Supplies" means goods and/or services procured by the Exporter

from persons ordinarily resident in and/or carrying on business in the

Buyer's country but excluding Integrated Goods.

"Non-UK Goods" means Local Supplies and Third Country Supplies,

together.

"Third Country Supplies" means goods and/or services that are not Local

Supplies and that are procured by the Exporter from persons ordinarily

resident in and/or carrying on business in a country other than the UK but

excluding Integrated Goods.

4. We confirm that we have received the payment(s) set out in paragraph 5

below from [Buyer] in respect of sums due to us under the Export Contract.

5. Payments:

Date of Invoice	Invoice Number	Goods/Services	Payment Due
[●]	[●]	[●]	[●]
[●]	[●]	[●]	[●]

← Pomerite tabelu levo/desno za više detalja →

6. We represent and warrant that:

(a)

the payments set out paragraph 5 above do not include any payment (i)

which we have previously submitted pursuant to any Exporter Payment

Request or (ii) in respect of which we have already provided an Exporter

Receipt;

(b)

the goods and/or services identified in paragraph 5 above have been

supplied in accordance with the Export Contract and are consistent with the

description given by us in the UKEF Application Form;

(c)

the goods and/or services identified in paragraph 5 above have been

manufactured or produced in or purchased from the place identified in

paragraph 5 above as the place of origin;

(d)

the cost to us of procuring any Local Supplies in respect of which this

Exporter Receipt is being submitted does not, when added to the cost to us

of procuring any Local Supplies in respect of which previous Exporter

Receipts and/or Exporter Payment Requests have been submitted, exceed

30% of the Exported Element Value;

(e)

the cost to us of procuring any Non-UK Goods in respect of which this

Exporter Receipt is being submitted does not, when added to the cost to us

of procuring any Non-UK Goods in respect of which previous Exporter

Receipts and/or Exporter Payment Requests have been submitted, exceed

65% of the value of the Export Contract;

(f)

the obligations expressed to be assumed by us under the Export Contract

are legal, valid, binding and enforceable obligations;

(g)

we are in compliance with all laws and regulations which are applicable to

us, the export of goods and/or services in connection with the Export

Contract;

(h)

the Export Contract has not been terminated;

(i)

neither the Export Contract nor any part of the Export Contract is subject to

any litigation or arbitration currently in progress or any arbitration award;

(j)

all Authorisations (if any), including export licences and end user certificates

(if required), in respect of the goods and/or services identified in paragraph

5 above have been obtained and remain in full force and effect. A copy of

export licences and end user certificates (if any) are attached; and

(k)

to the best of our knowledge and belief, neither the Export Contract nor any

part of the Export Contract will be the subject of litigation or arbitration.

For and on behalf of [Exporter]

Signature:* …………………………………

Name: …………………………………

Position: …………………………………

Date: …………………………………

*Signature of Exporter's Signatory

PART B

FORM OF PAYMENT REQUEST

From: [Borrower]

To: [Agent]

Dated: [●]

Dear [insert name of Agent],

Payment Request No. [●]

1. We refer to:

(a)

the contract for [short description of export] dated [●] and made between

[Exporter] (the "Exporter") and [Buyer] (the "Buyer"), as amended from

time to time (the "Export Contract");

(b)

the facility agreement dated [●] and made between, inter alia, [Borrower]

(the "Borrower"), the financial institutions listed therein as original lenders

and [Agent] (the "Agent") as amended from time to time (the "Facility

Agreement"); and

(c)

the exporter payment request No. [] dated [] and attached hereto (the

"Exporter Payment Request").

2. This is a "Payment Request" as defined in the Facility Agreement.

3. Terms defined in the Facility Agreement have the same meaning in this

Payment Request unless given a different meaning in this Payment

Request. 4. We would like to borrow by way of Loan the amount set out below on the

date set out below:

Proposed Utilisation Date: [●] (or, if that is not a Business Day, the

next Business Day)

Amount: [●] EUR

5. This Payment Request is irrevocable.

6. We hereby represent and warrant that on the date of this Payment Request

and the relevant Utilisation Date:

(a)

each condition specified in

Clause 5.2

(Further conditions precedent) of the

Facility Agreement is satisfied;

(b)

the Export Contract is in full force and effect and has not been suspended,

terminated, cancelled or repudiated (in each case, in whole or in part);

(c)

the amount requested under paragraph 4 above does not, when added to

any Loans made under the Facility Agreement, exceed the Available

Facility;

(d)

the amount requested under paragraph 4 above does not include any

amount which has already been requested in any other Payment Request

or which has been the subject of a Reimbursement Request;

(e)

the copies of the documents attached to this Payment Request are true

copies of the original documents;

(f)

the information contained in the documents mentioned in paragraph (e)

above is true and accurate and has not been amended or superseded at

the date of this Payment Request; and

7. The payment of the amount requested under paragraph 4 above should be

made into the following bank account of the Exporter: [account], as

specified in [paragraph 7 of the Exporter Payment Request No. [__].]

8. We undertake to provide any other documentation reasonably requested by

the Agent from time to time in connection with this Payment Request.

Yours faithfully,

For and on behalf of [Borrower]

Signature:* …………………………………

Name: …………………………………

Position: …………………………………

Date: …………………………………

*Signature of Borrower's Signatory

Appendix to Payment Request

Form of Exporter Payment Request

From: [Exporter]

To: [Borrower]

Dated: [●]

Dear [insert name of Borrower],

Exporter Payment Request No. [●]

1. We refer to:

(a)

the contract for [short description of export] dated [●] and made between

[Exporter] (the "Exporter") and [Buyer] (the "Buyer"), as amended from

time to time (the "Export Contract"); and

(b)

the facility agreement dated [●] and made between, inter alia, [Borrower]

(the "Borrower"), the financial institutions listed therein as original lenders

and [Agent] (the "Agent") as amended from time to time (the "Facility

Agreement").

2. This is an "Exporter Payment Request" as defined in the Facility

Agreement.

3. Terms defined in the Facility Agreement have the same meaning in this

Exporter Payment Request unless given a different meaning in this

Exporter Payment Request. 4. In this Exporter Payment Request:

"Authorisation" means an authorisation, consent, permit, approval,

resolution, licence, exemption, filing, notarisation or registration.

"Exported Element Value" means the value of the Export Contract less the

cost to the Exporter of procuring any Local Supplies.

"Integrated Goods" means:

(i)

in the case of Local Supplies, Local Supplies that are or will be

integrated with other goods in the UK to produce goods that are or

will be eligible for a certificate of UK origin from a British Chamber of

Commerce; and

(ii) in the case of Third Country Supplies, Third Country Supplies that

are or will be integrated with other goods in the UK to produce

goods that are or will be eligible for a certificate of UK origin from a

British Chamber of Commerce.

"Local Supplies" means goods and/or services procured by the Exporter

from persons ordinarily resident in and/or carrying on business in the

Buyer's country but excluding Integrated Goods.

"Non-UK Supplies" means Local Supplies and Third Country Supplies,

together.

"Third Country Supplies" means goods and/or services that are not Local

Supplies and that are procured by the Exporter from persons ordinarily

resident in and/or carrying on business in a country other than the UK but

excluding Integrated Goods.

5. This Exporter Payment Request is irrevocable.

6. We represent and warrant that:

(a)

each of the payments set out in the appendix to this Exporter Payment

Request (the "Appendix"), the total amount of which is [total amount], [is

now due][will be due on []] to us from the Buyer under the Export

Contract;

(b)

the payments set out in the Appendix do not include any payment which we

have previously submitted pursuant to any Exporter Payment Request;

(c)

the goods and/or services identified in the Appendix have been supplied in

accordance with the Export Contract and are consistent with the description

given by us to UK Export Finance in the UKEF Application Form;

(d)

the goods and/or services identified in the Appendix have been

manufactured or produced in or purchased from the relevant suppliers and

from the place(s) identified in the export details spreadsheet1 (in the form

agreed on or about the date of the Facility Agreement or as amended,

subject to confirmation from the Agent acting on the instructions of UK

Export Finance and the Majority Lenders);

(e)

all Authorisations (if any), including export licences and end user certificates

(if required), in respect of the goods and/or services identified in the

Appendix have been obtained and remain in full force and effect. A copy of

the export licences and end user certificates (if any) are attached;

(f)

the cost to us of procuring any Local Supplies in respect of which this

Exporter Payment Request is being submitted does not, when added to the

cost to us of procuring any Local Supplies in respect of which previous

1 Note: spreadsheet is to be filled out and updated regularly (i.e. on each drawdown or as agreed with the Agent acting on behalf of the Lenders and UKEF). Exporter Receipts and/or Exporter Payment Requests have been

submitted, exceed 30% of the Exported Element Value;

(g)

the cost to us of procuring any Non-UK Supplies in respect of which this

Exporter Payment Request is being submitted does not, when added to the

cost to us of procuring any Non-UK Supplies in respect of which previous

Exporter Receipts and/or Exporter Payment Requests have been

submitted, exceed 65% of the value of the Export Contract;

(h)

the obligations expressed to be assumed by us under the Export Contract

are legal, valid, binding and enforceable obligation;

(i)

we are in compliance with all laws and regulations which are applicable to

us, the export of goods and/or services in connection with the Export

Contract;

(j)

the Export Contract has not been terminated;

(k)

neither the Export Contract nor any part of the Export Contract is subject to

any litigation or arbitration currently in progress or any arbitration award;

(l)

to the best of our knowledge and belief, neither the Export Contract nor any

part of the Export Contract will be the subject of litigation or arbitration; and

(m)

the copies of the documents attached to this Exporter Payment Request

are true copies of the original documents.

7. The payment of the total amount due to us, set out in paragraph 6(a) above,

should be made into the following bank account: [account].

8. We attach copies of our invoice(s) to the Buyer in respect of the payments

set out in the Appendix.

9. We undertake to provide any other documentation reasonably requested by

the Agent from time to time in connection with this Exporter Payment

Request.

Yours faithfully

For and on behalf of [Exporter]

Signature:* …………………………………

Name: …………………………………

Position: …………………………………

Date: …………………………………

*Signature of Exporter's Signatory

Appendix to Exporter Payment Request

Payments

Date of Invoice	Invoice Number	Goods/Services	Payment Due
[●]	[●]	[●]	[●]
[●]	[●]	[●]	[●]

← Pomerite tabelu levo/desno za više detalja →

Schedule 4

FORM OF TRANSFER CERTIFICATE

To: [●] as Agent

From: [The Existing Lender] (the "Existing Lender") and [The New Lender] (the

"New Lender")

Dated:

Facility agreement dated [●] and made between, inter alia, [Borrower] as

borrower, the financial institutions listed therein as original lenders and

[Agent] as agent, as amended from time to time (the "Facility Agreement")

1. We refer to the Facility Agreement. This is a Transfer Certificate. Terms

defined in the Facility Agreement have the same meaning in this Transfer

Certificate unless given a different meaning in this Transfer Certificate.

2. We refer to

Clause 21.5

(Procedure for transfer) of the Facility Agreement:

(a)

The Existing Lender and the New Lender agree to the Existing Lender

transferring to the New Lender by novation, and in accordance with Clause

21.5 (Procedure for transfer) of the Facility Agreement, all of the Existing

Lender's rights and obligations under the Facility Agreement and the other

Finance Documents which relate to that portion of the Existing Lender's

Commitment and participations in Loans under the Facility Agreement as

specified in the schedule to this Transfer Certificate (the "Schedule").

(b)

The proposed Transfer Date is [●].

(c)

The Facility Office and address and attention details for notices of the New

Lender for the purposes of

(Contact details) of the Facility

Agreement are set out in the Schedule.

3. The New Lender expressly acknowledges the limitations on the Existing

Lender's obligations set out in paragraph (c) of

Clause 21.4

(Limitation of

responsibility of Existing Lenders) of the Facility Agreement.

4. [The New Lender expressly confirms that it [can/cannot] exempt the Agent

from the restrictions pursuant to section 181 of the German Civil Code

(Bürgerliches Gesetzbuch) and similar restrictions applicable to it pursuant

to any other applicable law as provided for in paragraph (c) of

Clause 23.1

(Appointment of the Agent) of the Facility Agreement.]

5. This Transfer Certificate may be executed in any number of counterparts

and this has the same effect as if the signatures on the counterparts were

on a single copy of this Transfer Certificate.

6. This Transfer Certificate and any non-contractual obligations arising out of

or in connection with it are governed by English law.

7. This Transfer Certificate has been entered into on the date stated at the

beginning of this Transfer Certificate.

THE SCHEDULE

Commitment/rights and obligations to be transferred2

[insert relevant details] [Facility Office address and attention details for

notices and account details for payments,]

[Existing Lender]	[New Lender]
By:	By:

← Pomerite tabelu levo/desno za više detalja →

This Transfer Certificate is accepted by the Agent and the Transfer Date is

confirmed as [●].

[Agent]

By:

2 Note: The Borrower will need the information about the amount of the rights and obligations being transferred in order to prepare and deliver the written statement to the NBS (please note

Clause 21.7

)

Schedule 5

FORM OF ASSIGNMENT AGREEMENT

To: [●] as Agent and [●] as Borrower

From: [the Existing Lender] (the "Existing Lender") and [the New Lender] (the

"New Lender")

Dated:

Facility agreement dated [●] and made between, inter alia, [Borrower] as

borrower, the financial institutions listed therein as original lenders and

[Agent] as agent, as amended from time to time (the "Facility Agreement")

1. We refer to the Facility Agreement. This is an Assignment Agreement.

Terms defined in the Facility Agreement have the same meaning in this

Assignment Agreement unless given a different meaning in this Assignment

Agreement.

2. We refer to

(Procedure for assignment) of the Facility

Agreement:

(a)

The Existing Lender assigns absolutely to the New Lender all the rights of

the Existing Lender under the Facility Agreement and the other Finance

Documents which relate to that portion of the Existing Lender's

Commitment and participations in Loans under the Facility Agreement as

specified in the schedule to this Assignment Agreement (the "Schedule").

(b)

The Existing Lender is released from all the obligations of the Existing

Lender which correspond to that portion of the Existing Lender's

Commitment and participations in Loans under the Facility Agreement

specified in the Schedule.

(c)

The New Lender becomes a Party as a Lender and is bound by obligations

equivalent to those from which the Existing Lender is released under

paragraph (b) above.

3. The proposed Transfer Date is [●].

4. On the Transfer Date the New Lender becomes Party to the Finance

Documents as a Lender.

5. The Facility Office and address and attention details for notices of the New

Lender for the purposes of

(Contact details) of the Facility

Agreement are set out in the Schedule.

6. The New Lender expressly acknowledges the limitations on the Existing

Lender's obligations set out in paragraph (c) of

Clause 21.4

(Limitation of

responsibility of Existing Lenders) of the Facility Agreement.

7. [The New Lender expressly confirms that it [can/cannot] exempt the Agent

from the restrictions pursuant to section 181 of the German Civil Code

(Bürgerliches Gesetzbuch) and similar restrictions applicable to it pursuant

to any other applicable law as provided for in paragraph (c) of

Clause 23.1

(Appointment of the Agent) of the Facility Agreement.]

8. This Assignment Agreement acts as notice to the Agent (on behalf of each

Finance Party) and, upon delivery in accordance with

(Procedure for assignment) of the Facility Agreement, to the Borrower of

the assignment referred to in this Assignment Agreement.

9. This Assignment Agreement may be executed in any number of

counterparts and this has the same effect as if the signatures on the

counterparts were on a single copy of this Assignment Agreement.

10. This Assignment Agreement and any non-contractual obligations arising out

of or in connection with it are governed by English law.

11. This Assignment Agreement has been entered into on the date stated at the

beginning of this Assignment Agreement.

THE SCHEDULE

Rights to be assigned and obligations to be released and undertaken3

[insert relevant details]

[Facility office address and attention details for notices and account details

for payments]

[Existing Lender]	[New Lender]
By:	By:

← Pomerite tabelu levo/desno za više detalja →

This Assignment Agreement is accepted by the Agent and the Transfer Date is

confirmed as [●].

Signature of this Assignment Agreement by the Agent constitutes confirmation by

the Agent of receipt of notice of the assignment referred to herein, which notice

the Agent receives on behalf of each Finance Party.

[Agent]

By:

3 Note: The Borrower will need the information about the amount of the rights being assigned in order to prepare and deliver the written statement to the NBS (please see

Clause 21.7

)

Schedule 6

TIMETABLES

Clause	Description	Specified Time
Clause 6.1(a) (Utilisation of the Facility)	Delivery of a Utilisation Request duly completed to the Agent's satisfaction	11.00 a.m. on the day that is 10 Business Days prior to the proposed Utilisation Date
Clause 6.2 (Lenders' participation)	Agent notifies the Lenders of the Loan	11.00 a.m. on the day that is 3 Business Days prior to the proposed Utilisation Date
Definition of "EURIBOR"	Fixing of EURIBOR or Interpolated Screen Rate	Quotation Day as of 11.00 a.m. Brussels time
Definition of "Interpolated Screen Rate"	Fixing of Interpolated Screen Rate	Quotation Day as of 11.00 a.m.

← Pomerite tabelu levo/desno za više detalja →

Schedule 7

DAILY NON-CUMULATIVE COMPOUNDED RFR RATE

The "Daily Non-Cumulative Compounded RFR Rate" for any RFR Banking Day

"i" during an Interest Period for a Compounded Rate Loan is the percentage rate

per annum (without rounding, to the extent reasonably practicable for the Finance

Party performing the calculation, taking into account the capabilities of any

software used for that purpose) calculated as set out below:

where:

"UCCDRi" means the Unannualised Cumulative Compounded Daily Rate for that

RFR Banking Day "i";

"UCCDRi-1" means, in relation to that RFR Banking Day "i", the Unannualised

Cumulative Compounded Daily Rate for the immediately preceding RFR Banking

Day (if any) during that Interest Period;

"dcc" means 360 or, in any case where market practice in the Relevant Market is

to use a different number for quoting the number of days in a year, that number;

"n" means the number of calendar days from, and including, that RFR Banking

Day "i" up to, but excluding, the following RFR Banking Day; and

the "Unannualised Cumulative Compounded Daily Rate" for any RFR Banking

Day (the "Cumulated RFR Banking Day") during that Interest Period is the result

of the below calculation (without rounding, to the extent reasonably practicable for

the Finance Party performing the calculation, taking into account the capabilities

of any software used for that purpose):

where:

"ACCDR" means the Annualised Cumulative Compounded Daily Rate for that

Cumulated RFR Banking Day;

"tni" means the number of calendar days from, and including, the first day of the

Cumulation Period to, but excluding, the RFR Banking Day which immediately

follows the last day of the Cumulation Period; "Cumulation Period" means the period from, and including, the first RFR

Banking Day of that Interest Period to, and including, that Cumulated RFR

Banking Day;

"dcc" has the meaning given to that term above; and

the "Annualised Cumulative Compounded Daily Rate" for that Cumulated RFR

Banking Day is the percentage rate per annum (rounded to 4 decimal places)

calculated as set out below:

where:

"d0" means the number of RFR Banking Days in the Cumulation Period;

"Cumulation Period" has the meaning given to that term above;

"i" means a series of whole numbers from one to d0, each representing the

relevant RFR Banking Day in chronological order in the Cumulation Period;

"DailyRatei-LP" means, for any RFR Banking Day "i" in the Cumulation Period,

the Daily Rate for the RFR Banking Day which is the Lookback Period prior to

that RFR Banking Day "i";

"ni" means, for any RFR Banking Day "i" in the Cumulation Period, the number of

calendar days from, and including, that RFR Banking Day "i" up to, but excluding,

the following RFR Banking Day;

"dcc" has the meaning given to that term above; and

"tni" has the meaning given to that term above.

SIGNATORIES

For and on behalf of )

REPUBLIC OF SERBIA as Borrower )

Represented by the Government of the )

Republic of Serbia, )

acting by and through the Ministry of )

Finance )

Signature ………………………….

Name Siniša Mali

Position First Deputy Prime Minister and Minister of Finance

Date 27 October 2025

CONTACT DETAILS

Address: Kneza Miloša 20

Email: kabinet@mfin.gov.rs

Phone: +381 11 765 2012

Attention: Minister of Finance

Signature page – UKEF Facility Agreement No. 0020022188 – Morava Corridor For and on behalf of J.P. MORGAN SE as ) Original Lender ) )

Signature ………………………….

Name Harison Moskowitz

Position Executive Director

Signature ………………………….

Name Timothy Inglis

Position Vice President

Signature page – UKEF Facility Agreement No. 0020022188 – Morava Corridor For and on behalf of CRÉDIT AGRICOLE )

CORPORATE AND INVESTMENT BANK ) as Original Lender )

Signature ………………………….

Name Karine LEGERT Jean-Marc MORANT Director Position Managing Director Export Finance ECA & Multilateral Financing Solutions Product Structuring & Asset Management Product and Structuring Credit Agricole CIB

Signature page – UKEF Facility Agreement No. 0020022188 – Morava Corridor For and on behalf of ING BANK N.V. as ) Original Lender ) )

Signature …………………………. Signature ………………………….

Name Anna Rauhala Name Eugène Kock

Position M.D. Position Director

Structured Export Finance

ING Bank N.V.

Signature page – UKEF Facility Agreement No. 0020022188 – Morava Corridor For and on behalf of JPMORGAN CHASE )

BANK, N.A., LONDON BRANCH as Initial ) Mandated Lead Arranger )

Signature ………………………….

Name Timothy Inglis

Position Vice President

Signature page – UKEF Facility Agreement No. 0020022188 – Morava Corridor For and on behalf of CRÉDIT AGRICOLE )

CORPORATE AND INVESTMENT BANK as ) Mandated Lead Arranger )

Signature ………………………….

Signature page – UKEF Facility Agreement No. 0020022188 – Morava Corridor For and on behalf of ING BANK N.V. as ) Mandated Lead Arranger ) )

Signature …………………………. Signature ………………………….

Name Anna Rauhala Name Eugène Kock

Position M.D. Position Director

Structured Export Finance

ING Bank N.V.

Signature page – UKEF Facility Agreement No. 0020022188 – Morava Corridor For and on behalf of J.P. MORGAN SE as ) Agent ) )

Signature ………………………….

Name Sumesh Santhosh

Position Authorised Signatory

CONTACT DETAILS

Address: J.P. Morgan SE

Taunustor 1 (TaunusTurm)

60310 Frankfurt am Main

Germany

Copy to: Global Trade – Trade Solutions Delivery (Export Finance)

JPMorgan Chase Bank, N.A., London Branch

25 Bank Street Canary Wharf

London E14 5JP

United Kingdom

Phone: +44 20 7742 5859 +44 20 71344029

Email: Lindsay.j.cane@jpmchase.com

Raj.subba@jpmorgan.com

tsd.export.finance.emea@jpmchase.com

Attention: Lindsay Cane Raj Subba

Signature page – UKEF Facility Agreement No. 0020022188 – Morava Corridor

Ugovor — srpski tekstČl. 1.1–41.2

Datum 27. oktobar 2025. godine

REPUBLIKA SRBIJA koju zastupa Vlada Republike Srbije, postupajući preko Ministarstva finansija kao Zajmoprimac

J.P. MORGAN SE kao Agent

JPMORGAN CHASE BANK, N.A., LONDON BRANCH kao Prvobitni ovlašćeni vodeći aranžer

CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK I ING BANK N.V. kao Ovlašćeni vodeći aranžeri

ODREĐENE DRUGE FINANSIJSKE INSTITUCIJE kao Prvobitni zajmodavci

UGOVOR O KREDITNOM ARANŽMANU BR. 0020022188 Kreditni aranžman se odnosi na neobezbeđeni zajam do iznosa od 260.000.000 evra uz garanciju UKEF u cilju finansiranja određenih građevinskih usluga od strane Bechtel Enka UK Limited, koji posluje u Srbiji preko Bechtel Enka UK Limited Ogranak Beograd za potrebe privrednog društva „Koridori Srbije” d.o.o. Beograd u vezi sa izgradnjom infrastrukturnog koridora autoputa E-761 deonice Pojate-Preljina (Moravski koridor)

SADRŽAJ

KLAUZULA STRANA

ODELJAK 1 ................................................................................................................................... Tumačenje ..............................................................................................................................................

1. Definicije i tumačenje ..........................................................................................................

2. Stupanje na snagu .....................................................................................................................

ODELJAK 2 .................................................................................................................................... Kreditni aranžman .....................................................................................................................

3. Kreditni aranžman ..........................................................................................................

4. Svrha ..................................................................................................................................

5. Uslovi korišćenja .............................................................................................................

ODELJAK 3 .................................................................................................................................... Korišćenje ....................................................................................................................................

6. Korišćenje ...............................................................................................................................

ODELJAK 4 .................................................................................................................................... Otplata, prevremena otplata i otkazivanje ...............................................................................

7. Otplata ..............................................................................................................................

8. Prevremena otplata i otkazivanje .........................................................................................

ODELJAK 5 .................................................................................................................................... Troškovi korišćenja sredstava .................................................................................................

9. Kamata ................................................................................................................................

10. Izmene u obračunu kamate .......................................................................................................

11. Naknade .....................................................................................................................................

ODELJAK 6..................................................................................................................................... Dodatne obaveze plaćanja .............................................................................................................

12. Bruto porezi i refundiranje ..................................................................................................

13. Povećani troškovi .................................................................................................................

14. Druga obeštećenja ....................................................................................................................

15. Ublažavanja od strane Zajmodavca .........................................................................................

16. Troškovi i izdaci ..................................................................................................................

ODELJAK 7 Izjave, obaveze i neispunjenje obaveza ........................................................................................

17. Izjave ........................................................................................................................................

18. Obaveze informisanja .............................................................................................................

19. Opšte obaveze ..........................................................................................................................

20. Slučajevi neispunjenja obaveza ..........................................................................................

ODELJAK 8 .................................................................................................................................... Promena Strana ............................................................................................................................

21. Promena Zajmodavca .................................................................................................................

22. Promena Zajmoprimca .............................................................................................................

ODELJAK 9 .................................................................................................................................... Strane kreditnog aranžmana ......................................................................................................

23. Uloga Agenta i Aranžera ........................................................................................................

24. Poslovanje Strana kreditnog aranžmana ..............................................................................

25. Preraspodela među Stranama kreditnog aranžmana ............................................................

ODELJAK 10 .................................................................................................................................. Upravljanje ....................................................................................................................................

26. Mehanizam plaćanja ..........................................................................................................

27. Poravnanje ................................................................................................................................

28. Obaveštenja ..............................................................................................................................

29. Obračuni i potvrde .................................................................................................................

30. Delimična ništavost ......................................................................................................

31. Pravni lekovi i odricanja ......................................................................................................

32. Amandmani i odricanja ...........................................................................................................

33. Poverljive informacije ..................................................................................................

34. Poverljivost stopa finansiranja ..........................................................................................

35. Primerci ...........................................................................................................................

36. Jezik ..........................................................................................................................................

37. Ugovorno priznanje instituta interne sanacije ..................................................................

ODELJAK 11 .................................................................................................................................. Merodavno pravo i izvršenje .....................................................................................................

38. Merodavno pravo ......................................................................................................................

39. Arbitraža ................................................................................................................................

40. Nadležnost sudova ...........................................................................................................

41. Uručenja .............................................................................................................................

PRILOZI

PRILOG STRANA

Prilog 1 Prvobitne strane ......................................................................................................... Prvobitni zajmodavci ........................................................................................................ Prilog 2 Preduslovi za inicijalno korišćenje ...................................................................... Prilog 3 Zahtevi za korišćenje sredstava ................................................................................. DEO A Obrazac zahteva za nadoknadu .................................................................................. DEO B Obrazac zahteva za plaćanje ....................................................................................... Prilog 4 Obrazac potvrde o prenosu .......................................................................................... Prilog 5 Obrazac ugovora o ustupanju ........................................................................................ Prilog 6 Rokovi ............................................................................................................................ Prilog 7 Dnevna nekumulativna složena referentna stopa ...................................................

POTPIS

POTPIS STRANA

Potpisnici ........................................................................................................................... OVAJ UGOVOR datiran na 27. oktobar 2025. godine zaključen je između:

(1) REPUBLIKE SRBIJE, koju predstavlja Vlada Republike Srbije, delujući preko i putem Ministarstva finansija, kao zajmoprimca (u daljem tekstu:

„Zajmoprimac”);

(2) J.P. MORGAN SE, kompanije registrovane u Registru kompanija B pri lokalnom sudu u Frankfurtu na Majni pod matičnim brojem HRB 16861 sa sedištem na adresi Taunustor 1 (TaunusTurm), 60310 Frankfurt na Majni, Nemačka kao agenta drugih Strana kreditnog aranžmana (u daljem tekstu:

„Agent”);

(3) JPMORGAN CHASE BANK, N.A., LONDON BRANCH, kao prvobitnog ovlašćenog glavnog aranžera (u daljem tekstu: „Prvobitni ovlašćeni glavi

aranžer”);

(4) CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK I ING BANK N.V., kao ovlašćeni vodeći aranžeri (u daljem tekstu, zajedno:

„Ovlašćeni vodeći aranžeri” i pojedinačno: „Ovlašćeni vodeći aranžer”) i

(5) FINANSIJSKIH INSTITUCIJA, navedenih u Prilogu 1 (Prvobitne Strane) kao zajmodavac (u daljem tekstu: „Prvobitni zajmodavci”).

Pri čemu je:

(A) Republika Srbija 8. jula 2019. godine usvojila Zakon o utvrđivanju javnog interesa i posebnim postupcima radi realizacije projekta izgradnje infrastrukturnog koridora auto-puta E-761, deonica Pojate-Preljina, „Službeni glasnik RS”, broj 49/19) (u daljem tekstu: „Zakon o moravskom

koridoru”).

(B) Vlada Republike Srbije je 29. avgusta 2019. godine izabrala konzorcijum Bechtel-Enka, kao strateškog partnera za Projekat u skladu sa Uredbom o kriterijumima i načinu izbora strateškog partnera i stručnog nadzora nad izvođenjem radova na realizaciji projekta izgradnje infrastrukturnog koridora auto-puta E-761, deonica Pojate-Preljina („Moravski koridor”), „Službeni glasnik RS”, broj 55/19).

(C) Zajmoprimac, privredno društvo „Koridori Srbije” d.o.o. Beograd (u daljem tekstu: „Kupac”) i Bechtel Enka UK Limited, društvo sa ograničenom odgovornošću osnovano u Engleskoj pod registarskim brojem 09623025 sa sedištem na adresi ulica 11 Pilgrim Street, London, United Kingdom, EC4V 6RN, koje u Srbiji posluje preko Bechtel Enka UK Limited Ogranak Beograd, sa sedištem na adresi Resavska 23, Beograd, Srbija, matični broj 29510300 i poreski identifikacioni broj 111763679 (u daljem tekstu: „Izvoznik”) sklopili su ugovor dana 5. decembra 2019. godine (u daljem tekstu: „Ugovor o izvozu”) za potrebe projekta izgradnje autoputa E761 Pojate-Preljina (u daljem tekstu: „Moravski koridor”).

(D) Zajmoprimac i JPMorgan Chase Bank, N.A., London Branch kao prvobitni zajmodavac su, između ostalog, zaključili Ugovor o kreditnom aranžmanu uz podršku UKEF br. 0020008959 od 11. juna 2021. godine, u skladu sa kojim je stavljen na raspolaganje prioritetni neobezbeđeni zajam za finansiranje određenih građevinskih usluga u skladu sa Ugovorom o

izvozu (u daljem tekstu: „UKEF Kreditni aranžman iz 2021. godine”). U skladu sa uslovima ovog ugovora, Zajmodavci su se saglasili da Zajmoprimcu dodatno stave na raspolaganje iznos do 260.000.000,00 evra u cilju pružanja pomoći u finansiranju Ugovora o izvozu.

(E) Državni sekretar Njegovog veličanstva se preko Odeljenja za osiguranje i garanciju izvoznih kredita (Izvozna kreditna agencija UK) (u daljem tekstu: „Izvozna kreditna agencija UK”) saglasio da će obezbediti garanciju Zajmodavcima za određene obaveze Zajmoprimca koje proističu iz ovog ugovora.

OPERATIVNE ODREDBE

Usaglašeno je kao što sledi:

ODELjAK 1

TUMAČENJE

1.Čl. 1.1–1.4

DEFINICIJE I TUMAČENJE

Odredba1.1

Definicije

U ovom Ugovoru:

„Prihvaćeni ugovoreni iznos” ima isto značenje kao termin „Prihvaćeni ugovoreni iznos” u Ugovoru o izvozu, na dan ovog ugovora;

„Filijala” u smislu bilo kog lica označava Zavisno društvo tog lica ili Holding kompaniju tog lica ili bilo koje drugo Zavisno društvo te Holding kompanije;

„Zakoni o sprečavanju korupcije” označavaju:

Zakon o sprečavanju podmićivanja iz 2010. godine;

Zakon o korupciji u inostranstvu iz 1977. godine; i

bilo koji drugi važeći sličan zakon ili propis u bilo kojoj nadležnosti koji se odnosi na podmićivanje, korupciju ili druge slične radnje;

„Važeći zakon” označava:

svaki zakon, statut, uredbu, ustav, propis, pravilnik, podzakonski akt, instrukciju, odluku, nalog ili drugu direktivu bilo koje Državne institucije ili drugo što je važeće u Relevantnoj nadležnosti;

ugovor, pakt ili druge obavezujuće sporazume čiji je potpisnik ili strana bilo koja Državna institucija; ili

svako sudsko ili upravno tumačenje sa obavezujućim svojstvima ili primenom navedenog u stavovima (a) i (b) iznad,

i, u svakom slučaju, koji se primenjuje na Zajmoprimca, imovinu Zajmoprimca ili Dokumenta o transakciji;

„Aranžeri” označavaju Prvobitno ovlašćenog vodećeg aranžera i/ili Ovlašćene vodeće aranžere;

„Ugovor o ustupanju” označava ugovor suštinski u formi koja je utvrđena u Prilogu 5 (Obrazac ugovora o ustupanju) ili u drugom obliku dogovorenom između relevantnog cedenta i cesionara u formi i sadržaja zadovoljavajućih za Agenta;

„Ovlašćenje” označava ovlašćenje, saglasnost, dozvolu, odobrenje, rešenje, licence, izuzeće, podnesak, overu javnog beležnika ili registraciju;

„Period raspoloživosti” označava period od Datuma stupanja na snagu, uključujući i taj datum, do ranijeg od sledeći datuma, uključujući i sledeći:

datum koji pada dvadeset četiri (24) meseca nakon Datuma stupanja na snagu (ili kasniji datum koji može odrediti Agent, po uputstvima svih Zajmodavaca i Izvozne kreditne agencije UK); i

datum kada su sredstva Kreditnog aranžmana u potpunosti iskorišćena ili otkazana;

„Raspoloživa angažovana sredstva” označavaju Angažovana sredstva Zajmodavca umanjena za:

iznos njegovog učešća u preostalom delu neizmirenih Zajmova;

u vezi sa bilo kojim predloženim Korišćenjem, iznos udela u bilo kom Zajmu koji je dospeo na Dan korišćenja ili pre predloženog Dana korišćenja; i

iznos do tada primljenih otplata kredita, bez dvostrukog računanja;

„Raspoloživa kreditna sredstva” označavaju ukupan trenutni iznos Raspoloživih angažovanih sredstava svakog Zajmodavca;

„Zakon o blokiranju” ima značenje dato u

tački 17.17 (c)

;

„Potpisnik Zajmoprimca” označava osobu(e) ovlašćenu da za račun Zajmoprimca potpisuje o čemu je dokaz dostavljen Agentu u skladu sa stavom (1)(b) Priloga 2 (Preduslovi za Inicijalno korišćenje);

„Naknada za odstupanje od ugovorenih rokova” označava iznos (ako postoji) za koji:

kamata, ne računajući Maržu, koju je Zajmodavac trebalo da dobije za period od datuma prijema svih ili bilo kog dela Zajma ili Neplaćenog iznosa do poslednjeg dana tekućeg Kamatnog perioda koji se odnosi na Zajam ili Neplaćeni iznos, da su primljeni iznos glavnice ili Neplaćeni iznos plaćeni poslednjeg dana tog Kamatnog perioda;

premašuje:

iznos koji bi Zajmoprimac mogao da dobije da je deponovao iznos jednak glavnici ili Neplaćenom iznosu kod vodeće banke za period od Radnog dana nakon prijema ili naplate i završetka poslednjeg dana tekućeg Kamatnog perioda;

„Radni dan” označava:

dan (osim subote ili nedelje) kada su banke otvorene za opšte međubankarsko poslovanje (osim poslova plaćanja, kupovine i utvrđivanja stope u evrima):

(i)

u Londonu, Amsterdamu, Parizu, Frankfurtu i Beogradu; i

(ii)

za potrebe plaćanja, kupovine i utvrđivanja stope u valutama ili druga pitanja koja se odnose na stranu valutu (osim evra), u glavnom finansijskom centru zemlje te valute; i

za potrebe plaćanja ili utvrđivanja stope u evrima, dan kada je operativan Transevropski automatizovani sistem za ekspresni transfer plaćanja u realnom vremenu po bruto principu (eng. Trans- European Automated Real-time Gross Settlement Express Transfer payment system - TARGET).

„Kupac” ima značenje dato u Uvodnim napomenama (C);

„Potpisnik Kupca” označava osobu(e) ovlašćenu da potpisuje za račun Kupca o čemu Zajmoprimac dostavlja dokaz Agentu kako je detaljno definisano u stavu 2(c) (Ovlašćenja Kupca) Priloga 2 (Preduslovi za Inicijalno korišćenje), ili uz prethodno pisano odobrenje Agenta, drugo lice čije ime i deponovani potpis su dostavljeni Agentu i autorizovani od strane višeg zvaničnika Kupca u formi prihvatljivoj za Agenta;

„Zakon” označava Zakon o internim prihodima SAD-a iz 1986. godine;

„Angažovana sredstava” označavaju:

za Prvobitnog zajmodavca, iznos naspram njegovog imena u poglavlju „Angažovana sredstva” u Prilogu 1 (Prvobitne strane) i iznos drugih Angažovanih sredstava koja se na njega prenesu po osnovu ovog ugovora; i

za svakog drugog Zajmodavca, iznos Angažovanih sredstava prenetih na njega po ovom Ugovoru,

ukoliko ih nije otkazao, umanjio ili preneo u skladu sa ovim Ugovorom;

„Zajam sa složenom kamatnom stopom” označava bilo koji Zajam ili, ako je primenljivo, Neplaćeni iznos, koji ne predstavlja Zajam sa oročenom kamatnom stopom.

„Složena referentna kamatna stopa” znači, u odnosu na bilo koji Referentni bankarski dan tokom Kamatnog perioda Zajma sa složenom kamatnom stopom, procentualnu godišnju kamatnu stopu koja je zbir:

Dnevne nekumulativne složene referentne stope na Referentni bankarski dan; i

primenljive Rezervne CAS stope;

„Dodatak metodologije složenog obračuna” znači, u vezi sa Dnevnom nekumulativnom složenom referentnom stopom, dokument koji:

je dogovoren pismenim putem između Zajmoprimca, Agenta (u tom svojstvu) i Agenta (koji deluje po uputstvima Zajmodavaca i Izvozne kreditne agencije UK);

određuje metodologiju obračuna za tu stopu; i

je stavljen na raspolaganje Zajmoprimcu i svakoj Strani kreditnog aranžmana;

„Ugovorna cena” ima isto značenje kao i termin „Ugovorna cena” u Ugovoru o uvozu, na datum ovog ugovora;

„Poverljive informacije” označavaju sve pisane informacije u vezi sa Zajmoprimcem, Finansijskim dokumentima ili Kreditnim aranžmanom, o kojima Strane kreditnog aranžmana steknu saznanje u svojstvu ili zbog potrebe da postanu Strane kreditnog aranžmana ili one koje prime Strane kreditnog aranžmana zbog potrebe da postanu Strane kreditnog aranžmana po osnovu Finansijskih dokumenata ili Kreditnog aranžmana bilo od:

Zajmodavca ili njegovih savetnika; ili

druge Strane kreditnog aranžmana, ukoliko je te informacije ta Strana kreditnog aranžmana dobila direktno ili indirektno od Zajmoprimca ili njegovih savetnika,

u bilo kom obliku, i uključuju informacije saopštene usmeno i bilo koji dokument, elektronsku datoteku ili bilo koji drugi način predstavljanja ili beleženja informacija koje sadrže ili su izvedene ili kopirane iz takvih informacija, ali isključuje:

(A) informacije:

koje jesu ili postaju javne informacije izuzev kada to predstavlja direktnu ili indirektnu posledicu kršenja Strane kreditnog aranžmana odredbi

Klauzule 33

(Poverljive informacije); ili

ii)

koje prilikom njihovog dostavljanja Zajmoprimac, njegove državne institucije ili njegovi savetnici pismeno označe kao informacije koje nisu poverljive; ili

iii)

koje su bile poznate toj Strani kreditnog aranžmana pre datuma kada je informacija obelodanjena u skladu sa gore navedenim stavovima (i) ili (ii) ili koje je na zakonit način ta Strana kreditnog aranžmana dobila nakon tog datuma, iz izvora koji, koliko je toj Strani kreditnog aranžmana poznato, nije povezan sa Zajmoprimcem, njegovim državnim institucijama i koje, u svakom slučaju, koliko je Strani kreditnog aranžmana poznato, nisu dobijene kršenjem obaveze čuvanja poverljivosti i inače ne podležu toj obavezi; i

(B) bilo koje Stope finansiranja;

„Ugovor o poverljivosti” označava ugovor o čuvanju poverljivosti koji je u bitnoj meri sačinjen u formi objavljenoj od strane LMA-a za sekundarno trgovanje zajmovima ili u bilo kojoj drugoj formi o kojoj su se Zajmoprimac i Agent saglasili;

„Faza izgradnje” označava period od početka projektovanja, razvoja, pred-gradnje, gradnje i puštanja u pogon Projekta do početka Operativne faze;

„Plan upravljanja životnom sredinom i socijalnim pitanjima u Fazi izgradnje” označava dokument(a) koji sadrže procedure upravljanja životnom sredinom i socijalnim pitanjima u Fazi izgradnje, koja su dostavljena pre datuma ovog ugovora, sa povremenim izmenama i dopunama uz odobrenje Izvozne kreditne agencije UK i obuhvatiće svaki dokument koji se dostavlja Izvoznoj kreditnoj agenciji UK u skladu sa stavovima od 7(e) do 7(g) Priloga 2 (Preduslovi za inicijalno korišćenje);

„Korektivni akcioni plan” označava plan koji priprema Zajmoprimac u skladu sa stavom (d) (Okidači u oblasti životne sredine i socijalnih pitanja)

(Mere zaštite životne sredine) u kome se detaljno navode korektivne mere (uključujući i rokove i odgovornost za takve mere) koje su preduzete ili čije preduzimanje se predlaže kako bi se ispravile ili ublažile sve štete i negativne posledice prouzrokovane događajima koji se smatraju Okidačima u oblasti životne sredine i socijalnih pitanja, koji se povremeno može menjati ili ažurirati uz odobrenje Izvozne kreditne agencije UK;

„Obaveštenje o ispunjenju preduslova” ima značenje dato u stavu (a)(iv)

Klauzule 5.1

(Inicijalni preduslovi);

„Dnevna nekumulativna složena referentna stopa” znači, u odnosu na svaki Referentni bankarski dan tokom Kamatnog perioda za Zajam sa složenom kamatnom stopom, procentualnu godišnju stopu koju određuje Agent (ili bilo koja druga Strana kreditnog aranžmana koja pristaje da odredi tu stopu umesto Agenta) u skladu sa metodologijom navedenom u Prilogu 7 (Dnevna nekumulativna složena referentna stopa) ili u bilo kom relevantnom Dodatku metodologije složenog obračuna;

„Dnevna stopa” označava dnevnu stopu za bilo koji Referentni bankarski dan, koja je Referentna stopa za taj Referentni bankarski dan, zaokružena na četiri (4) decimale, a ako je ta stopa manja od nule, smatraće se da je dnevna stopa jednaka nuli; „Neispunjenje obaveza” označava Slučaj neispunjenja obaveza ili bilo koji slučaj ili okolnost navedenu u

Klauzuli 20

(Slučaj neispunjenja obaveza) koji bi (istekom grejs perioda, dostavljanjem obaveštenja, donošenjem odluke po osnovu Finansijskih dokumenata ili drugom kombinacijom navedenog) činili Slučaj neispunjenja obaveze;

„Zatezna kamatna stopa” označava kamatnu stopu koju plaća Zajmoprimac u skladu sa stavom (a)

Klauzule 9.4

(Zatezna kamata);

„Slučaj poremećaja” označava neki od sledećih događaja ili oba:

materijalni prekid onih sistema plaćanja ili komunikacije ili onih finansijskih tržišta čije funkcionisanje je, u svakom slučaju, neophodno za potrebe plaćanja povezanih sa Kreditnim aranžmanom (ili za potrebe realizacije transakcija definisanih u Finansijskim dokumentima) čiji poremećaj nisu uzrokovale Strane i van njihove je kontrole; ili

nastanak bilo kog događaja koji uzrokuje poremećaj (tehničke ili sistemske prirode) operacija trezora ili platnih operacija jedne Strane, sprečavajući tu ili ili bilo koju drugu Stranu da:

(i)

ispunjava svoje platne obaveze koje proističu iz Finansijskih dokumenata, ili

(ii)

komunicira sa drugim Stranama u skladu sa odredbama Finansijskih dokumenata,

i koji (u svakom slučaju) nije uzrokovala Strana čije operacije su prekinute i to je van njene kontrole;

„Datum stupanja na snagu” označava datum koji je Agent Zajmoprimcu naznačio kao „Datum stupanja na snagu”, kao datum kada su ispunjeni svi preduslovi navedeni u stavu (a)

Klauzule 2.1

(Datum stupanja na snagu) na način koji je zadovoljavajući za Agenta (koji postupa po uputstvima svih Zajmodavaca i Izvozne kreditne agencije UK.

„Podobna roba i podobne usluge” označavaju za potrebe Vrednosti ugovora o izvozu:

Strani sadržaj u iznosu koji ne prelazi 85% Vrednosti Ugovora o izvozu; i

Domaća roba i usluge u ukupnom iznosu koji ne prelazi 50% vrednosti Stranog sadržaja Vrednosti ugovora o izvozu;

„Životna sredina” označava Prirodnu sredinu i Socijalnu sredinu;

„Ekološki i socijalni akcioni plan” ili „ESAP” označava akcioni plan, potvrđen od strane Izvozne kreditne agencije UK i odnosi se na UKEF Kreditni aranžman iz 2021. godine, sa povremenim izmenama i dopunama od strane ili uz saglasnost Izvozne kreditne agencije UK; „Ekološki zagađivači” označavaju supstance (čvrste, tečne ili gasovite i sjedinjene ili nesjedinjene sa jednom ili više drugih supstanci), aktivnosti ili druge fenomene koji mogu naneti značajnu štetu za ljude ili druga živa bića u Životnoj sredini ili značajnu štetu Životnoj sredini, javnom zdravlju ili blagostanju;

„Propisi o informacijama o životnoj sredini” označavaju Propise o informacijama o životnoj sredini iz 2004. godine zajedno sa svim uputstvima i/ili kodeksom poslovanja koje objavljuje Komesar za informacije ili relevantna državna institucija u Ujedinjenom kraljevstvu;

„Pogrešno plaćanje” ima značenje koje mu je dato u stavu (d)

Klauzule 23.19

(Greškom plaćeni iznosi);

„EURIBOR” označava u vezi sa svakim Zajmom:

važeći Prikaz kamatne stope, na relevantan Dan kotacije za evro i za vremenski period po dužini jednak Kamatnom periodu tog Zajma; ili

kako je drugačije utvrđeno u skladu sa

Klauzulom 10.1

(Nedostupnost Prikaza kamatne stope),

i, ako je u bilo kom od ova dva slučaja stopa manja od nule, smatraće se da je EURIBOR nula;

„Slučaj neispunjenja obaveza” označava događaje ili okolnosti definisane kao takve u

Klauzuli 20

(Slučaj neispunjenja obaveza);

„Izuzeta imovina” ima značenje dato u

tački 17.20

(Nema imuniteta);

„Ugovor o izvozu” ima značenje dato u Uvodnim napomenama (C) i (D);

„Vrednost ugovora o izvozu” znači iznos od 337.113.525,56 evra, što čini deo ukupne vrednosti Ugovora o izvozu, koji se finansira u okviru ovog ugovora, kako je opisano u Uvodnim napomenama;

„Izvoznik” ima značenje dato u Uvodnim napomenama (C);

„Zahtev izvoznika za plaćanje” označava dokument definisan kao „Zahtev izvoznika za plaćanje” u Zahtevu za plaćanje;

„Potvrda izvoznika” označava dokument definisan kao „Potvrda izvoznika” u Zahtevu za nadoknadu;

„Potpisnik izvoznika” označava osobu/osobe ovlašćene da potpisuju za račun Izvoznika o čemu je Agent obavešten u skladu sa stavom 4(c) (i) (Ugovor o izvozu i Ovlašćenja Izvoznika) u Prilogu 2 (Preduslovi za Inicijalno korišćenje), ili, pod uslovom da je Agent to prethodno pismeno odobrio, druge osobe čije ime i deponovani potpis su dostavljeni Agentu i odobreni od strane direktora ili službenika Izvoznika na način prihvatljiv Agentu;

„Eksterna finansijska zaduženost” označava:

sva Finansijska zaduženja koja su izražena ili denominovana ili plativa ili ona koja, po izboru relevantnog poverioca, mogu biti plativa u bilo kojoj valuti koja nije zakonska valuta Relevantne nadležnosti; i

sva Finansijska zaduženja koja jesu ili mogu postati plativa licu koje ima boravište van Relevantne nadležnosti ili ima registrovano sedište ili glavno mesto poslovanja van Relevantne nadležnosti;

„Aktivnosti vezane za životnu sredinu i socijalna pitanja” označavaju aktivnosti identifikovane:

u ESAP;

u bilo kom Izveštaju o samo-praćenju životne sredine i socijalnih pitanja; i

od strane Izvozne kreditne agencije UK ili od strane njenog imenovanog predstavnika ili IESC(i) nakon obilaska terena u skladu sa stavom (e) (Obilazak terena)

(Aktivnosti vezane za životnu sredinu),

koje je potrebno preduzeti od strane ili za račun Zajmoprimca i/ili Kupca u cilju obezbeđenja ispunjenja svih obaveza vezanih za životnu sredinu i socijalna pitanja, koje se mogu ažurirati ili menjati i dopunjavati uz prethodno odobrenje Izvozne kreditne agencije UK;

„Zahtevi vezani za životnu sredinu i socijalna pitanja” označavaju sve tekuće ili postojeće zahteve, sporove, arbitraže, administrativne ili pravne postupke vezane za zahteve koji se odnose na životnu sredinu i socijalna pitanja koja se odnose na Projekat, ili imovinu, poslovanje i rad Zajmoprimca i/ili Kupca u vezi sa Projektom;

„Incident u oblasti životne sredine i socijalnih pitanja” označava:

svaki incident ili nezgodu koji se odnosi na Projekat i za koji se razumno može očekivati da, direktno ili indirektno, ima ili može imati negativan uticaj na Životnu sredinu (uključujući i ispuštanje bilo kog Zagađivača životne sredine u dovoljnoj količini koje ima negativan uticaj);

nezgodu koja za posledicu ima smrt ili ozbiljne ili višestruke povrede; ili

značajne žalbe ili proteste zajednice ili radnika usmerene protiv Projekta;

„Istraga u oblasti životne sredine i socijalnih pitanja” označava svaku istragu koju sprovode vladini, državni ili drugi javni organi koja proističe ili je vezana za Projekat ili imovinu, poslovanje i rad Zajmoprimca i/ili Kupca u vezi sa Projektom i u skladu sa zahtevima po pitanju životne sredine i socijalnih pitanja;

„Zakon o životnoj sredini i socijalnim pitanjima” označava zakone, propise, uredbe, presude, regulativu, direktive, podzakonska akta, naloge ili druge izvršne ili zakonske mere ili akta koji imaju snagu zakona u datom trenutku, uključujući i sva Ovlašćenja koja se traže gore navedenim aktima, koja se direktno ili indirektno odnose na zaštitu od povrede ili štete po Životnu sredinu u vezi sa (i) Projektom ili (ii) imovinom, poslovanjem i radom Zajmoprimca i/ili Kupca u vezi sa Projektom;

„Planovi upravljanja životnom sredinom i socijalnim pitanjima” označavaju zajedno Plan upravljanja životnom sredinom i socijalnim pitanjima u Fazi izgradnje i Plan upravljanja životnom sredinom i socijalnim

pitanjima u Operativnoj fazi, a „Plan upravljanja životnom sredinom i socijalnim pitanjima” se pojedinačno može odnositi na bilo koji od gore navedenih;

„Obaveze iz oblasti životne sredine i socijalnih pitanja” označavaju obaveze bilo kog lica (uključujući Zajmoprimca i/ili Kupca) da:

poštuje sve važeće Zakone iz oblasti životne sredine i socijalnih pitanja;

se uskladi sa Standardima iz oblasti životne sredine i socijalnih pitanja;

preduzme Aktivnosti iz oblasti životne sredine i socijalnih pitanja;

ispuni zahteve definisane Planovima upravljanja životnom sredinom i socijalnim pitanjima; ili

ispuni sve zahteve svakog Korektivnog akcionog plana,

vezanim za Projekat.

„Kršenje obaveza vezanih za životnu sredinu i socijalna pitanja” označava kršenje bilo koje Obaveze iz oblasti životne sredine i socijalnih pitanja (uključujući one od strane Zajmoprimca i/ili Kupca), osim kršenja o kojima je Agent obavešten i koja su rezultirala korektivnim merama u skladu sa ESAP, bilo kojim Korektivnim akcionim planom ili drugim korektivnim merama koje su dogovorene sa Agentom;

„Zahtevi u oblasti životne sredine i socijalnih pitanja” označavaju zajedno Zakon o životnoj sredini i socijalnim pitanjima i Standarde vezane za životnu sredinu i socijalna pitanja;

„Izveštaji o samo-praćenju u oblasti životne sredine i socijalnih pitanja” označavaju izveštaje koji se traže u skladu sa stavom (a) (Izveštaji o samo-praćenju u oblasti životne sredine i socijalnih pitanja)

(Aktivnosti vezane za životnu sredinu);

„Standardi vezani za životnu sredinu i socijalna pitanja” označavaju politike, priručnike i standarde koji su definisani ili se navode u:

sledećim standardima rezultata u oblasti socijalne i ekološke održivosti objavljenim od strane Međunarodne finansijske korporacije (IFC) 1. januara 2012. godine:

(i)

Standard rezultata 1: Procena i upravljanje ekološkim i socijalnim rizicima i njihovim uticajima;

(ii)

Standard rezultata 2: Uslovi na radu;

(iii)

Standard rezultata 3: Efikasnost resursa i prevencija zagađenja;

(iv)

Standard rezultata 4: Zdravlje zajednice, bezbednost i sigurnost;

(v)

Standard rezultata 5: Otkup zemljišta i prinudno raseljavanje;

(vi)

Standard rezultata 6: Biodiverzitet, konzervacija i održivo upravljanje prirodnim resursima;

(vii)

Standard rezultata 7: Starosedelačka populacija;

(viii)

Standard rezultata 8: Kulturno nasleđe;

Opštim smernicama o životnoj sredini, zdravlju i sigurnosti (EHS) Grupe Svetska banka (2007);

EHS smernice IFC / Grupe Svetske banke za puteve s naplatom putarine (2007);

EHS Smernice Grupe Svetske banke za građevinske materijale i vađenje (2007);

Smernice IFC / Evropske banke za obnovu i razvoj (EBRD) o smeštaju radnika: procesi i standardi (2009); i

Ekvator principi 4 (2020);

„Okidači u oblasti životne sredine i socijalnih pitanja” označavaju:

Incidente u oblasti životne sredine i socijalnih pitanja; i/ili

Kršenje obaveza u oblasti životne sredine i socijalnih pitanja;

„Kreditni aranžman” označava kreditni koji je dostupan u skladu sa ovim Ugovorom, kako je opisan u

Klauzuli 3

(Kreditni aranžman);

„Valuta kreditnog aranžmana” označava EUR;

„Kancelarija kreditnog aranžmana” označava kancelariju ili kancelarije o kojima je Zajmodavac obavestio Agenta pisanim putem na ili pre datuma kada je postao Zajmodavac (ili, nakon tog datuma, ali uz obaveštenje u pisanoj formi najmanje pet (5) Radnih dana unapred), kao kancelariju ili kancelarije preko kojih će ispunjavati svoje obaveze prema ovom Ugovoru;

„Rezervna CAS stopa” znači 0.0%; „FATCA” označava:

Odeljke 1471-1474 Zakona ili bilo kog povezanog propisa;

svaki međunarodni ugovor, zakon ili propis bilo koje druge nadležnosti ili u vezi sa međudržavnim sporazumom između SAD-a i bilo koje druge nadležnosti, koja (u bilo kom slučaju) olakšava sprovođenje bilo kog zakona ili propisa iz stava (a) iznad; ili

bilo koji sporazum na osnovu implementacije bilo kog međunarodnog ugovora, zakona ili propisa koji se odnosi na stav

ili (b) iznad sa Službom za unutrašnje prihode SAD-a, Vladom SAD-a ili bilo kojim državnim ili poreskim organom bilo koje druge nadležnosti;

„Datum primene FATCA” označava:

u odnosu na „plaćanja koja se mogu obustaviti”, opisana u odeljku 1473(1)(A)(i) Zakona (koji se odnosi na plaćanje kamate i određenih drugih plaćanja iz izvora unutar SAD-a), od 1. jula 2014. godine; ili

u odnosu na „prolazna plaćanja”, opisana u odeljku 1471(d)(7) Zakona koja nisu uključena u prethodni stav (a), prvi datum od kada takvo plaćanje može biti predmet odbitka ili obustavljanja koje se zahteva u skladu sa FATCA.

„FATCA odbitak” označava odbitak ili obustavljanje od plaćanja u skladu sa Finansijskim dokumentom koji zahteva FATCA;

„Strana izuzeta od FATCA” označava Stranu koja ima pravo da primi isplatu bez bilo kakvog FATCA odbitka;

„Pismo o naknadama” označava pismo ili pisma datirana na datum ili približan datum ovog ugovora, između bilo kog Aranžera i Zajmoprimca (ili Agenta i Zajmoprimca), kojima se utvrđuju sve naknade iz

Klauzule 11

(Naknade);

„Finansijski dokument” znači:

ovaj ugovor;

svaki Zahtev za korišćenje sredstava;

svako Pismo o naknadama;

Dodatak metodologije složenog obračuna; i

svaki drugi dokument koji Agent i Zajmoprimac tako definišu;

„Strana kreditnog aranžmana” označava Agenta, svakog Aranžera ili Zajmodavca; „Finansijska zaduženost” označava svaku zaduženost za ili u vezi sa:

pozajmljenim novcem;

svakim iznosom prihvaćenog aranžmana ili dematerijalizovanog ekvivalenta;

svakim aranžmanom o kupovini srednjoročnih obveznica ili emitovanju dugoročnih i srednjoročnih obveznica, vrednosnih papira ili sličnog instrumenta;

iznosom bilo koje obaveze u pogledu bilo kakvog ugovora o zakupu ili najmu, koji bi se smatrao bilansnom obavezom;

prodatim ili diskontovanim potraživanjima (osim potraživanja koja su prodata bez prava prenosa potraživanja);

svakim iznosom prikupljenom drugim transakcijama (uključujući ugovor o terminskoj prodaji ili kupovini) koje nisu navedene u drugim stavovima ove definicije i koje imaju komercijalni efekat pozajmice;

svakom derivativanom transakcijom u koju se stupi u vezi sa zaštitom od ili radi koristi od fluktuacije bilo koje stope ili cene (a, pri izračunavanju vrednosti derivativne transakcije, samo tržišna vrednost (ili, ukoliko se bilo koji stvarni iznos duguje zbog raskida ili zatvaranja te derivativne transakcije, taj iznos) će se uzimati u obzir);

svakom obavezom kontragarancije ili naknade u odnosu na garanciju, refundaciju, obveznicu, standby ili dokumentarni akreditiv ili drugi instrument izdat od strane banke ili finansijske institucije; ili

iznosom bilo koje obaveze po osnovu svake garancije ili obeštećenja za bilo koju od stavki navedenih u prethodnim stavovima od (a) do (h);

„Datum prve otplate” označava 31. oktobar 2027. godine;

„FOIA” označava Zakon o slobodnom pristupu informacijama iz 2000. godine i sve podzakonske akte povremeno donete na osnovu tog Zakona zajedno sa svim uputstvima i/ili kodeksima prakse koje objavljuje Komesar za informacije ili relevantna državna institucija u Ujedinjenom kraljevstvu u vezi sa tim propisima;

„Strani sadržaj” označava svu robu i usluge koje potiču iz Ujedinjenog Kraljevstva (ili bilo koje druge zemlje, osim Republike Srbije), a koje Izvoznik isporučuje ili će isporučiti Kupcu prema Ugovoru o izvozu, koji se u svakom slučaju mogu smatrati podobnim za podršku Izvozne kreditne agencije UK u okviru Kreditnog aranžmana;

„Stopa finansiranja” označava bilo svaku pojedinačnu stopu o kojoj Zajmodavac obavesti Agenta u skladu sa stavom a(ii)

Klauzule 10.3

(Trošak finansiranja);

„Državni subjekt” označava:

centralni ili lokalni nivo vlasti;

bankarski ili monetarni organ centralnog ili lokalnog nivoa vlasti;

lokalne nadležnosti centralnog nivoa vlasti;

Evropsku centralnu banku ili Savet ministara Evropske unije;

sve agencije, komisije, odbore komisija, organe, ministarstva, odeljenja, tela, sudove ili agencije gore navedenih institucija, bez obzira na način njihovog konstituisanja; ili

sva udruženja, organizacije ili institucije čiji je član bilo koji od subjekata navedenih u prethodnim stavovima (uključujući, bez ograničenja, svako nad-nacionalno telo) ili čijoj nadležnosti podleže bilo koji od njih ili u čijim aktivnostima učestvuje;

„Holding kompanija” označava, u odnosu na lice, bilo koje drugo lice u odnosu na koju je ona Zavisno društvo;

„IBRD” označava Međunarodnu banku za obnovu i razvoj;

„IESC(i)” označava:

lice prihvatljivo za Izvoznu kreditnu agenciju UK koje je postavljeno za nezavisnog konsultanta za socijalna pitanja i pitanja životne sredine, u skladu sa IESC Ugovorom predviđenim u stavu (a) definicija IESC Ugovor(a), i

ako Izvozna kreditna agencija UK zahteva Ugovor o tehničkoj pomoći, lice prihvatljivo za Izvoznu kreditnu agenciju UK koje je imenovano kao nezavisni tehnički savetnik u skladu sa Ugovorom o tehničkoj pomoći;

„IESC Ugovor(i)” označava:

ugovor ili pismo o angažovanju o ekološkom i socijalnom monitoringu i tehničke savetodavne usluge za Projekat, koji je sklopljen ili, u zavisnosti od toga kako kontekst nalaže, koji će biti sklopljen između Agenta i IESC kako je predviđeno u stavu (a) definicija IESC Ugovor(a), i

ako delokrug IESC Ugovora, naveden u stavu (a) iznad, ne pokriva tehničke savetodavne usluge koje zahteva Izvozna kreditna agencija UK, Ugovor o tehničkoj pomoći;

„IFRS” označava međunarodne računovodstvene standarde u smislu ISA Uredbe 1606/2002 u meri u kojoj je to primenjivo;

„MMF” označava Međunarodni monetarni fond; „Kompromitovani agent” označava Agenta u bilo kom trenutku kada:

nije izvršio (ili nije obavestio Stranu da neće izvršiti) plaćanje koje treba da izvrši prema Finansijskim dokumentima do datuma dospeća plaćanja;

Agent na drugi način ukida ili ne priznaje Finansijska dokumenta;

je nastupio i nastavlja se Slučaj insolventnosti u odnosu na Agenta;

osim u slučaju iz stava (a) iznad:

kada je njegovo neplaćanje uzrokovano:

(A) administrativnom ili tehničkom greškom; ili

(B) Slučajem poremećaja; i

ii)

plaćanje se izvrši u roku od tri Radna dana od dana dospeća; ili

iii)

Agent u dobroj nameri osporava da je ugovorno obavezan da izvrši predmetno plaćanje;

„Povećani troškovi” imaju značenje koje im je dato u stavu (b)

Klauzule 13.1

(Povećani troškovi);

„Informacije” imaju značenje koje im je dato u odeljku 84 Zakona o slobodnom pristupu informacijama iz 2000. godine;

„Zakon o informacijama” označava FOIA, Regulativu o informacijama o životnoj sredini i bilo koji zakon koji povremeno može regulisati objavljivanje informacija od strane javnih institucija u Ujedinjenom Kraljevstvu;

„Slučaj insolventnosti” u odnosu na bilo koji subjekt označava da je taj subjekt:

prestao da postoji (osim u slučaju konsolidacije, pripajanja ili spajanja);

postao insolventan ili nije u mogućnosti da plati svoje dugove ili ne uspe ili pismeno prizna svoju opštu nesposobnost plaćanja dugova po dospeću;

čini potpuno ustupanje, aranžman ili poravnanje sa ili u korist svojih poverilaca;

pokreće ili je regulator, supervizor ili drugi službenik sa primarnom nadležnošću za insolventnost, reorganizaciju ili regulisanje poslovanja nad njim pokrenuo u nadležnosti njegovog osnivanja ili organizovanja ili u nadležnosti njegovog sedišta glavne ili matične kancelarije, postupak kojim se traži presuda po osnovu insolventnosti ili bankrotstva ili bilo koja druga pravna zaštita prema zakonu o bankrotu ili insolventnosti ili drugom sličnom zakonu koji utiče na prava poverilaca, ili je podnet zahtev za njegovu likvidaciju od strane njega ili takvog regulatora, supervizora ili sličnog službenika.

pokrenuo postupak protiv njega kojim se traži presude po osnovi insolventnosti ili bankrotstva ili bilo koja druga pravna zaštita prema zakonu o bankrotu ili insolventnosti ili drugom sličnom zakonu koji utiče na prava poverilaca ili je podnet predlog za njegovo zatvaranje ili likvidaciju i, u slučaju bilo kog takvog postupka ili zahteva podnetog ili pokrenutog protiv njega, takav postupak ili zahtev pokrene ili podnese lice ili subjekt koji nije opisan u stavu (d) iznad i:

(i)

ima za posledicu presudu po osnovu insolventnosti ili bankrotstva ili upis privremene mere ili donošenje odluke o zatvaranju ili likvidaciji; ili

(ii)

nije odbačen, ukinut, obustavljen ili prekinut u svakom pojedinačnom slučaju u toku od trideset (30) dana od dana pokretanja ili podnošenja;

ima donetu odluku o svom prestanku, prinudnoj upravi ili likvidaciji (osim u slučaju konsolidacije, pripajanja ili spajanja);

traži ili postane predmet imenovanja upravnika, privremenog likvidatora, staratelja, stečajnog upravnika, poverenika, zaštitnika ili drugog sličnog službenika za njega ili za svu ili veći deo njegove imovine;

ima obezbeđenu stranu koja preuzima posed nad celokupnom ili značajnim delom njegove imovine ili je protiv te imovine pokrenut postupak zaplene, izvršenja, obustave, oduzimanja ili drugi pravni postupak, te takva osigurana strana zadržava posed ili takav postupak nije odbačen, ukinut, obustavljen ili prekinut u svakom pojedinačnom slučaju u roku od 30 dana nakon toga;

uzrokuje ili podleže bilo kom drugom slučaju koji, prema merodavnom pravu bilo koje nadležnosti, ima sličan učinak u bilo kom od slučajeva u prethodno navedenim stavovima od (a) do (h) iznad; ili

preduzima bilo koju radnju u cilju unapređenja ili ukazivanja na svoju saglasnost, odobravanje ili prećutno pristajanje na bilo koji od gore navedenih radnji.

„Datum plaćanja kamate” označava poslednji dan Kamatnog perioda;

„Kamatni period” označava, u odnosu na Kredit, svaki period utvrđen u skladu sa

Klauzulom 9.6

(Kamatni periodi) i, u smislu Neplaćenog iznosa, svaki period utvrđen u skladu sa

Klauzulom 9.4

(Zatezna kamata);

„Interpolirana kotirana stopa” označava, u odnosu na bilo koji Kredit, stopu (zaokruženu na isti broj decimalnih mesta kao i dve relevantne Kotirane stope) koja je rezultat linearne interpolacije između:

primenjive Kotirane stope za najduži period za koji je ta kotirana stopa raspoloživa koji je kraći od Kamatnog perioda Kredita; i

primenjive Kotirane stope za najkraći period (za koji je ta kotirana stopa raspoloživa) koji je duži od Kamatnog perioda Kredita,

obe u Naznačenom vremenu za Valutu kreditnog aranžmana;

„Zajmodavac” označava:

svakog Prvobitnog zajmodavca; i

svaku banku, finansijsku instituciju, trast, fond ili drugu instituciju koja je postala Strana u skladu sa

(Promena Zajmodavaca),

koji u svakom slučaju nije prestao da bude Strana u skladu sa uslovima ovog ugovora;

„LMA” označava Udruženje tržišta kredita;

„Zajam” označava zajam obezbeđen ili koji će biti obezbeđen u okviru Kreditnog aranžmana ili neizmireni iznos glavnice zajma do tog trenutka;

„Lokalna roba i usluge” označava robu i usluge poreklom iz Republike Srbije ili lica državljane Republike Srbije koja su angažovana/isporučena ili koja će biti angažovana/isporučena Kupcu od strane Izvoznika u skladu sa Ugovorom o izvozu, koja se u svakom slučaju može smatrati podobnom za podršku od stane Izvozne kreditne agencije UK u okviru Kreditnog aranžmana;

„Posmatrani period” znači pet (5) Referentnih bankarskih dana;

„Većinski zajmodavci” označavaju Zajmodavca ili Zajmodavce čija ukupna Angažovana sredstva premašuju 66 2/3% Ukupnih angažovanih sredstava (ili, ako su Ukupna angažovana sredstva smanjena na nulu, treba da premašuju 66 2/3% Ukupnih angažovanih sredstava neposredno pre smanjenja);

„Marža” iznosi nula zarez šest odsto (0.60%) na godišnjem nivou;

„Materijalni negativni efekat” označava materijalni negativni efekat na:

ekonomske uslove Zajmoprimca ili Kupca;

sposobnost Zajmoprimca ili Kupca da ispuni svoje obaveze definisane Dokumentima o transakciji; ili

validnost ili izvršnost Dokumenata o transakciji ili prava i pravnih lekova bilo koje Strane u kreditnom aranžmanu prema bilo kom Finansijskom dokumentu;

„Materijalna promena Ugovora o izvozu” označava bilo koje:

ustupanje, novaciju ili drugo odricanje od bilo kog prava i/ili obaveze koje proističu iz Ugovora o izvozu; ili

izmene i dopune, saglasnost, napuštanje ili odricanje od uslova iz Ugovora o izvozu koji:

(i)

sami po sebi ili kada su spojeni sa bilo kojom prethodnom izmenom i dopunom, odstupanjem ili odricanjem, povećavaju ili smanjuju plativi iznos Zajmoprimca i/ili Kupca prema Ugovoru o izvozu (ukupan iznos) za više od deset procenata (10%); ili

(ii)

uključuje materijalnu promenu prirode nabavke prema Ugovoru o izvozu;

„Moravski koridor” ima značenje dato u Uvodnim napomenama (C);

„Zakon o moravskom koridoru” ima značenje dato u Uvodnim napomenama (A);

„Prirodno okruženje” označava elemente prirodnog okruženja, uključujući sve ili nešto od sledećeg:

vazduh (uključujući vazduh unutar zgrada i vazduh unutar prirodnih struktura ili sagrađenih struktura ispod ili iznad zemlje);

vodu (uključujući teritorijalne, priobalne i unutrašnje vode, podzemne i površinske vode i vode u kanalima i kanalizaciji);

zemljište (uključujući meliorisano zemljište, površinski i pod- površinski sloj zemljišta);

žive organizme, uključujući ljude, životinje i biljke; i

prirodna staništa (uključujući područja koja je čovek promenio kako bi napravio prirodna staništa);

„NBS” označava Narodnu banku Srbije;

„Novi zajmodavac” ima značenje dato u

Klauzuli 21.1

(Ustupanje i prenos od strane Zajmodavaca);

„OFAC” označava Kancelariju za kontrolu stranih sredstava Ministarstva finansija Sjedinjenih američkih država;

„Operativna faza” označava period koji počinje od datuma izdavanja konačne Potvrde o primopredaji, kao što je definisano u Ugovoru o izvozu, do celokupne isplate kreditnog aranžmana i potpunog ispunjenja svih obaveza Zajmoprimca po osnovu Finansijskih dokumenata;

„Plan upravljanja životnom sredinom i socijalnim pitanjima tokom Operativne faze” znači plan zaštite životne sredine u vezi sa Operativnom fazom koji je izrađen u skladu sa odredbama UKEF Kreditnim aranžmanom iz 2021. godine;

„Država učesnica” označava svaku državu članicu Evropske Unije koja koristi evro kao svoju zakonsku valutu u skladu sa propisima Evropske Unije koji se odnose na Ekonomsku i monetarnu uniju;

„Strana” označava stranu ovog ugovora;

„Zahtev za plaćanje” znači dodatak Zahtevu za korišćenje, u suštini u formi navedenoj u Delu B (Obrazac zahteva za plaćanje) Priloga 3 (Zahtevi za korišćenje sredstava);

„Projekat” označava izgradnju infrastrukturnog koridora auto-puta E-761, deonica Pojate-Kruševac-Adrani-Preljina (Moravski koridor);

„Zaštićena strana” ima značenje dato u stavu a

Klauzule 12.1

(Poreske definicije);

„Javna imovina” označava celokupnu ili bilo koji deo sadašnje ili buduće obaveze, imovine, prihoda i međunarodnih monetarnih rezervi (uključujući zlato, specijalna prava vučenja i strane valute) Zajmoprimca ili njegovih institucija, uključujući i NBS i njegove sledbenike;

„Kvazi-obezbeđenje” ima značenje dato u

Klauzuli 19.4

(Negativna zaloga);

„Datum kotacije” označava, u smislu bilo kog perioda za koji se utvrđuje kamatna stopa, dva (2) TARGET dana pre prvog dana tog perioda osim ako se tržišna praksa na Relevantnom tržištu ne razlikuje, u kom slučaju će Datum kotacije utvrditi Agent u skladu sa tržišnom praksom Relevantnog tržišta (i ako se kotacije obično daju tokom više od jednog dana, Datum kotacije će biti poslednji od tih dana);

„Primalac” ima značenje dato u stavu (b)

Klauzule 12.6

(PDV);

„Zahtev za nadoknadu” označava obaveštenje u suštini u formi navedenoj u Delu A (Obrazac zahteva za nadoknadu) Priloga 3 (Zahtevi za korišćenje);

„Povezana sredstva”, u vezi sa fondom („prvi fond”), označava fond kojim upravlja ili ga savetuje isti investicioni menadžer ili investicioni savetnik kao prvi fond ili, ako njime upravlja drugi investicioni menadžer ili investicioni savetnik, fond čiji je investicioni menadžer ili investicioni savetnik Filijala investicionog menadžera ili savetnika prvog fonda;

„Relevantna nadležnost” označava Republiku Srbiju;

„Relevantno tržište” označava Evropsko međubankarsko tržište;

„Relevantno regulatorno telo” označava relevantnu centralnu banku, regulatora ili druge nadzorne institucije ili grupu njih, ili bilo koju radnu grupu ili odbor čiji je pokrovitelj ili predsedava bilo ko od njih ili Komitet za finansijsku stabilnost ili je na njihov zahtev osnovan;

„Relevantna strana” ima značenje dato u stavu (b)

Klauzule 12.6

(PDV);

„Datum otplate” označava:

Prvi datum otplate; i

Svaki datum koji pada u intervalu od šest (6) meseci nakon Prvog datuma otplate;

„Izjave koje se ponavljaju” označavaju svaku tvrdnju definisanu u Klauzulama 17.1 (Status) – 17.14 (Bez kršenja zakona) i Klauzulama 17.16 (Zakon o sprečavanju korupcije) – 17.27 (Bez dodatnog izvoznog finansiranja);

„Supstitutivna stopa” označava baznu stopu koja je:

zvanično koncipirana, nominovana ili preporučena kao supstitutivna stopa za Kotiranu stopu od strane:

(i)

administratora Kotirane stope (pod uslovom da je tržišna i ekonomska situacija koju ta osnovna stopa meri ista kao i ona koja se meri Kotiranom stopom); ili

(ii)

bilo kog Relevantnog regulatornog tela,

i ukoliko su zamene u relevantno vreme, zvanično koncipirane, nominovane ili preporučene za oba navedena stava, „Supstitutivna stopa” će biti zamena prema gore navedenom stavu (ii);

po mišljenju Većinskih zajmodavaca, Zajmoprimca i Izvozne kreditne agencije UK, opšte prihvaćena na međunarodnim i relevantnim domaćim sindikovanim kreditnim tržištima kao adekvatna zamena Kotirane stope; ili

po mišljenju Većinskih zajmodavaca, Zajmoprimca i Izvozne kreditne agencije UK, adekvatna zamena Kotirane stope.

„Predstavnik” označava svako delegirano lice, zastupnika, menadžera, administratora, opunomoćnika, advokata, poverenika ili depozitara;

„Potrebna dokumenta” označavaju:

u slučaju Zahteva za nadoknadu, dokumenta navedena u stavu 11 Dela A (Obrazac zahteva za nadoknadu) Priloga 3 (Zahtevi za korišćenje); i

u slučaju Zahteva za plaćanje, dokumenta koja treba da budu priložena uz Zahtev za plaćanje izvozniku u skladu sa stavom 8 obrasca Zahteva za plaćanje izvozniku, navedenog u Delu B (Obrazac zahteva za plaćanje) Priloga 3 (Zahtevi za korišćenje);

„Rezerve” države označavaju zvanične spoljne rezerve te države, koje se poseduju, drže, administriraju ili kontrolišu od strane bilo koga i u bilo kojoj formi (uključujući i one koje država ne poseduje niti drži niti njima upravlja niti kontroliše, već koje se uobičajeno smatraju kao njene zvanične spoljne rezerve);

„Referentna stopa” znači kratkoročna kamatna stopa u evrima (eng. euro short term rate - €STR) koju administrira Evropska centralna banka (ili bilo koje drugo lice koje preuzima administriranje te stope) i koju objavljuje Evropska centralna banka (ili bilo koje drugo lice koje preuzima objavljivanje te stope);

„Referentni bankarski dan” znači svaki dan (osim subote ili nedelje) koji je TARGET dan;

„Organi nadležni za Sankcije” označavaju:

Sjedinjene Američke Države;

Savet bezbednosti Ujedinjenih nacija;

Evropsku Uniju;

OFAC i Ministarstvo spoljnih poslova SAD-a;

svaku državu članicu Evropske unije; i

UK;

„Zakoni i propisi o sankcijama” označavaju zakone, propise, embargo ili restriktivne mere o ekonomskim, finansijskim ili trgovinskim sankcijama kojima upravlja, koje donosi ili sprovodi s vremena na vreme bilo koji Organ nadležan za Sankcije;

„Država pod sankcijama” označava u bilo kom trenutku državu, region ili teritoriju koja podleže ili je predmet bilo kog Zakona i Propisa o sankcijama (u vreme ovog ugovora, uključujući, ali ne ograničavajući se na Krim, Kubu, Iran, Severnu Koreju i Siriju);

„Lice pod sankcijama” označava u bilo kom trenutku (a) bilo koje lice navedeno u spisku sankcionisanih lica iz Zakona ili Propisa o sankcijama koje vodi bilo koji organ zadužen za Sankcije, (b) bilo koje lice koje radi, osnovano je ili ima boravak u Zemlji pod sankcijama, (c) bilo koje lice čiji je vlasnik ili koje kontroliše lice ili lica opisana u prethodnim tačkama (a) i (b), ili (d) i bilo koje lice koje je na drugi način predmet Zakona i propisa o sankcijama;

„Kotirana stopa” označava evro međubankarsku ponuđenu stopu kojom upravlja Evropski institut za tržište novca (ili bilo koje drugo lice koje preuzme upravljanje tom stopom) za relevantni period, koja je prikazana (pre bilo kakve korekcije, rekalkulacije ili ponovne publikacije od strane administratora) na stranici EURIBOR01 Thomson Reuters-a (ili bilo kojoj drugoj stranici Thomson Reuters koja je zamena za tu stranicu i prikazuje tu stopu) ili na odgovarajućoj strani takvih drugih informativnih servisa koji povremeno objavljuju tu stopu umesto Thomson Reuters-a. Ukoliko ta stranica ili servis prestane da bude dostupan, Agent može navesti neku drugu stranicu ili servis koji prikazuje relevantnu stopu nakon konsultacije sa Zajmoprimcem; „Događaj zamene kotirane stope” označava, u vezi sa Kotiranom stopom:

prema mišljenju Većinskih zajmodavaca, Zajmoprimca i Izvozne kreditne agencije UK materijalnu promenu metodologije, formule ili drugog sredstva utvrđivanja te Kotirane stope;

(b)

(i)

(A) administrator te Kotirane stope ili njen supervizor je javno objavio da je taj administrator nesolventan; ili

(B) informacija je objavljena u uredbi, obaveštenju, peticiji ili aktu podnesenoj sudu, tribunalu, berzi, regulatornim vlastima ili sličnim administrativnim regulatornim ili pravosudnim organima koji razumno potvrđuju da je administrator Kotirane stope nesolventan,

podrazumevano da, u svakom slučaju u tom trenutku ne postoji sledbenik administratora koji će nastaviti da obezbeđuje Kotiranu stopu;

ii)

administrator Kotirane stope javno izjavljuje da je prestao ili da će prestati da obezbeđuje Kotiranu stopu za stalno ili na neodređeni vremenski period i, u tom trenutku, ne postoji sledbenik administratora koji bi nastavio da obezbeđuje Kotiranu stopu;

iii)

supervizor administratora Kotirane stope javno objavljuje da je ta Kotirana stopa obustavljena ili se obustavlja za stalno ili na neodređeni vremenski period; ili

iv)

administrator Kotirane stope ili njegov supervizor objavljuje da se ta Kotirana stopa više ne može koristiti; ili

prema mišljenju Većinskih zajmodavaca, Zajmoprimca i Izvozne kreditne agencije UK, ta Kotirana stopa više nije adekvatna za potrebe obračuna kamate prema ovom Ugovoru.

„Obezbeđenje” označava hipoteku, teret, zalogu, plenidbu ili drugu vrstu obezbeđenja kojim se obezbeđuju bilo koje obaveze bilo kog lica ili drugi ugovori ili aranžmani koji imaju sličan efekat;

„Dopunsko pismo” znači dopunsko pismo između Agenta i Zajmoprimca koje je datirano na ili oko datuma ovog ugovora;

„Društveno okruženje” označava elemente društvenog okruženja uključujući sve ili nešto od dole navedenog:

ljudska prava, uključujući ali ne ograničavajući se na zajednicu, prava i uslove u oblasti rada i radnih odnosa;

zdravlje ljudi, sigurnost i bezbednost, uključujući ali ne ograničavajući se na zdravlje, bezbednost i sigurnost zajednice, radne snage i građana;

prava, interes i osnaživanje starosedelaca, etničkih manjina i osetljivih grupa;

kulturno nasleđe (materijalno i nematerijalno) i arheološke artefakte;

stalne naseobine, zapošljavanje i/ili egzistenciju ljudi (vezano i za prinudno fizičko ili ekonomsko raseljenje); i

učešće javnosti i angažovanje interesnih grupa;

„Utvrđeno vreme” označava dan ili vreme utvrđeno u skladu sa Prilogom 6 (Rokovi);

„Zavisno društvo” označava kompaniju ili korporaciju:

koju kontroliše, direktno ili indirektno, kompanija ili korporacija ili vladina agencija („holding korporacija”);

više od polovine emitovanog akcijskog kapitala koje poseduje, direktno ili indirektno holding korporacija; ili

koja je Zavisno društvo drugog Zavisnog društva holding korporacije;

„Dobavljač” ima značenje dato u stavu (b) u

Klauzuli 12.6

(PDV);

„Ugovor o tehničkoj pomoći” označava ugovor ili pismo o angažmanu za tehničke savetodavne usluge uključujući integraciju dva dizajna u odnosu na Projekat, koji je zaključen ili ako situacija tako zahteva, će biti zaključen sa IESC kako je navedeno u delu (a) definicije IESC(i), ako to zahteva Izvozna kreditna agencija UK;

„TARGET2” označava Transevropski automatizovani sistem za ekspresni transfer plaćanja u realnom vremenu po bruto principu (TARGET) koji koristi jedinstvenu zajedničku platformu i koji je pokrenut 19. novembra

2007. godine;

„TARGET dan” označava bilo koji dan kada je TARGET2 otvoren za poravnanja plaćanja u evrima;

„Porez” označava bilo koji porez, dažbinu, uvozne carine, carine ili druge namete ili odbitke slične prirode (uključujući kazne ili kamate u vezi sa neplaćanjem ili kašnjenjem u plaćanju bilo kojeg od navedenog);

„Poreski kredit” ima značenje dato u stavu (a) u

Klauzuli 12.1

(Definicije poreza);

„Poreski odbitak” ima značenje dato u stavu (a) u

Klauzuli 12.1

(Definicije poreza); „Plaćanje poreza” ima značenje dato u stavu (a) u

Klauzuli 12.1

(Definicije poreza);

„Zajam sa oročenom kamatnom stopom” označava bilo koji Zajam ili, ako je primenljivo, Neplaćeni iznos koji nije ili nije postao Zajam sa složenom kamatnom stopom za svoj tekući Kamatni period u skladu sa

klauzulom 10.1

(Nedostupnost kotirane stope);

„Zakon o trećim stranama” označava Zakon o obligacionim odnosima (Prava trećih strana) iz 1999. godine;

„Ukupna angažovana sredstva” označava ukupna Angažovana sredstva u iznosu od 260.000.000 evra na datum ovog ugovora;

„Dokumenta o transakciji” označavaju Finansijska dokumenta i Ugovor o izvozu;

„Potvrda o prenosu” označava potvrdu sastavljenu u formi datoj u Prilogu 4 (Obrazac Potvrde o prenosu) ili u bilo kojoj drugoj formi dogovorenoj između Agenta i Zajmoprimca;

„Datum prenosa” označava, u smislu ustupanja ili prenosa, kasniji događaj od navedenih:

predloženi Datum prenosa naveden u relevantnom Ugovoru o prenosu ili Potvrdi o prenosu, i

datum kada Agent potpiše relevantan Ugovor o ustupanju ili Potvrdu o prenosu;

„UK” označava Ujedinjeno Kraljevstvo Velike Britanije i Severne Irske;

„UKEF formular za aplikaciju” označava formular za aplikaciju vezan za Ugovor o izvozu koji je obezbedila Izvozna kreditna agencija UK 7. maja

2025. godine, s povremenim izmenama i dopunama;

„UKEF Garancija” znači garanciju koju je Zajmodavcima izdala ili će izdati Izvozna kreditna agencija UK u vezi sa Ugovorom, kao što je definisano u Uvodnim napomenama (E);

„UKEF Naknada” označava iznos od 18.122.000,00 evra, koji predstavlja naknadu koja se plaća Izvoznoj kreditnoj agenciji UK za izdavanje UKEF Garancije;

„Izvozna kreditna agencija UK” ima značenje dato u Uvodnim napomenama (E);

„Neplaćeni iznos” označava bilo koju sumu koja je dospela i plativa ali nije i plaćena od strane Zajmoprimca po osnovu Finansijskih dokumenata;

„SAD” označava Sjedinjene Američke Države;

„Korišćenje sredstava” označava korišćenje Kreditnog aranžmana; „Datum korišćenja” označava datum Korišćenja sredstava, koji predstavlja datum na koji se Zajam realizuje;

„Zahtev za korišćenje sredstava” označava:

Zahtev za nadoknadu; ili

Zahtev za plaćanje.

„PDV” označava:

svaki porez na dodatu vrednost uveden Zakonom o porezu na dodatu vrednost iz 1994. godine;

svaki porez na dodatu vrednost onako kako je definisano u Zakonu o porezu na dodatu vrednost, „Službeni glasnik Republike Srbije“ br. 84/2004, 86/2004, 61/2005, 61/2007, 93/2012, 108/2013, 6/2014, 68/2014, 142/2014, 5/2015, 83/2015, 5/2016, 108/2016, 7/2017, 113/2017, 13/2018, 30/2018, 4/2019, 72/19, 8/2020, 153/2020, 138/2022 i 94/2024;

sve poreze nametnute u skladu sa Direktivom Saveta od 28. novembra 2006. godine o zajedničkom sistemu poreza na dodatu vrednost (EC Direktiva 2006/112), i

bilo koji drugi porez slične prirode, bez obzira da li je nametnut u Ujedinjenom Kraljevstvu ili u državama članicama Evropske unije kao zamena za ili kao dodatak na poreze gore navedene u stavovima (c), (b) i (c) iznad, ili nametnut drugde.

„Svetska banka” označava Grupu Svetska banka, uključujući Međunarodnu banku za obnovu i razvoj, Međunarodno udruženje za razvoj (IDA), Međunarodnu finansijsku korporaciju (IFC) i Multilateralnu agenciju za garantovanje investicija (MIGA).

Odredba1.2

Tumačenje

Osim ako je suprotno navedeno, svako upućivanje u ovom Ugovoru na:

(i)

„Agenta”, svakog „Aranžera”, „Izvoznu kreditnu agenciju UK”,

„Zajmoprimca”, „Stranu kreditnog aranžmana”, „Zajmodavca”, ili bilo koju „Stranu” tumačiće se tako da uključuje njihove pravne sledbenike, dozvoljena ustupanja i ovlašćena lica kojima se ustupaju prava i/ili obaveza u skladu sa Finansijskim dokumentima;

ii)

„agenciju” tumačiće se tako da uključuje sve državne, međudržavne ili subnacionalne agencije, upravu, organe, centralnu banku, komisije, odeljenja, ministarstva, organizacije, državna preduzeća ili sud (uključujući bilo koju političku, subnacionalnu, nacionalnu, regionalnu ili lokalnu vlast, kao i administrativne, fiskalne, pravosudne, regulatorne ili samo-regulatorne organe ili lica);

iii)

dokument u „dogovorenom formatu” je dokument oko koga su se Zajmoprimac i Agent prethodno saglasili u pisanoj formi, ili, ukoliko se nisu saglasili, dokument je u formi koju je Agent definisao;

iv)

„imovina” uključuje sadašnju i buduću imovinu, prihode i prava svih vrsta;

za potrebe definisanja termina „Zavisno društvo”, „kontrola” označava:

(A) mogućnost (bez obzira da li preko vlasništva nad akcijama, ovlašćenja, ugovora, agencije ili na drugi način):

posedovanja ili kontrolisanja više od polovine maksimalnog broja glasova koji mogu glasati na generalnoj skupštini kompanije; ili

(2)

postavljanja ili smene svih ili većine direktora ili drugih ekvivalentnih zvaničnika kompanije; ili

(3)

davanje instrukcija po pitanju operativnih i finansijskih politika kompanije ili Zajmoprimca, ukoliko je primenjivo, koje direktori ili ekvivalentni zvaničnici kompanije moraju da poštuju; ili

(B) posedovanje više od jedne polovine emitovanog akcijskog kapitala kompanije (isključujući deo tog akcijskog kapitala koji ne podrazumeva pravo učešća u raspodeli ili profita ili kapitala u iznosu većem od naznačene sume);

vi)

„Finansijski dokument” ili bilo koji drugi sporazum ili instrument je upućivanje na taj Finansijski dokument ili drugi sporazum ili instrument, koji je izmenjen, dopunjen, preformulisan ili zamenjen ili koji sadrži proširenja ili izmene;

vii)

„grupa Zajmodavaca” obuhvata sve Zajmodavce;

viii)

„garancija” označava svaku garanciju, garantno pismo, obveznice, refundaciju ili slično osiguranje od gubitka ili bilo koju obavezu, direktnu ili indirektnu, stvarnu ili uslovnu, za kupovinu ili preuzimanje duga bilo kog lica ili ulaganja ili davanja kredita ili kupovine imovine bilo kog lica, pri čemu, u svakom slučaju se te obaveze preuzimaju kako bi se održala ili podržala sposobnost tog lica da ispuni svoje obaveze po zaduženju;

ix)

„zaduženost” obuhvata bilo koje obaveze (bilo po osnovu glavnice ili jemstvo) plaćanja ili otplate novca, bilo sadašnje ili buduće, stvarne ili uslovne;

„lice” označava bilo kojeg pojedinca, firmu, kompaniju, društvo sa ograničenom odgovornošću, ograničeno zajedničko ulaganje, akcionarsko društvo, nekorporirana organizacija, trust ili drugo pravno lice, korporaciju, vladu, ministarstvo, institucije, državu ili agenciju države ili udruženje, trust, zajedničko ulaganje, konzorcijum, partnerstvo ili druge entitete ili njihove političke pododeljke ili bilo koji drugi entitet (bez obzira da li su odvojena pravna lica);

xi)

„propis” obuhvata svaki propis, pravilo, zvaničnu direktivu, zahtev ili smernicu (bez obzira da li ima snagu zakona) bilo koje agencije;

xii)

zakonska odredba je upućivanje na tu odredbu sa izmenama i dopunama ili ponovnim usvajanjem s vremena na vreme; i

xiii)

doba dana se odnosi na vreme u Frankfurtu, Nemačka;

Dodatak metodologije složenog obračuna koji se odnosi na Dnevnu nekumulativnu složenu referentnu stopu zamenjuje sve što se odnosi na tu stopu u:

(i)

Prilogu 7 (Dnevna nekumulativna složena referentna stopa); ili

(ii)

bilo kom ranijem Dodatku metodologije složenog obračuna.

Utvrđivanje obima u kojoj je neka stopa određena „za period jednake dužine trajanja” kao Kamatni period neće uzeti u obzir bilo kakvo odstupanje koje proizlazi iz poslednjeg dana tog Kamatnog perioda koji je utvrđen u skladu sa uslovima iz ovog ugovora.

Naslovi Odeljak, Klauzula i Prilog se koriste samo za potrebe lakšeg snalaženja.

Osim ako je suprotno navedeno, termin koji se koristi u bilo kom drugom Finansijskom dokumentu ili u obaveštenju datom po osnovu ili u vezi sa bilo kojim Finansijskim dokumentom ima isto značenje u tom Finansijskom dokumentu ili obaveštenju kao u ovom Ugovoru.

Neispunjenje obaveze (osim onog navedenog u Slučaju neispunjenja obaveza) „traje” ukoliko nije ispravljeno ili se od njega nije odustalo, a Slučaj neispunjenja obaveza „traje” ukoliko se od njega nije odustalo.

Okidač u oblasti životne sredine i socijalnih pitanja „traje” osim kada Izvozna kreditna agencija UK utvrdi da je slučaj ispravljen.

Odredba1.3

Valutni simboli i definicije

„€”, „EUR” i „evro” označava jedinstvenu valutu Zemalja članica koje učestvuju.

Odredba1.4

Prava treće strane

Osim ako je izričito navedeno suprotno u Finansijskom dokumentu, lice koje nije Strana nema pravo po osnovu Zakon o obligacionim odnosima iz

1999. godine (Prava trećih lica) da sprovodi ili uživa prednosti bilo kog uslova ovog ugovora, osim Izvozne kreditne agencije UK po pitanju prava koja su navedena da su joj dodeljena u skladu sa:

Klauzulom 3.4

(UKEF Garancija);

ii)

Klauzulom 5.1

(Inicijalni preduslovi);

iii)

Klauzulom 11.4

(UKEF Naknada);

iv)

Klauzulom 14.2

(Druge naknade);

Klauzulom 14.4

(Naknade Izvozne kreditne agencije UK);

vi)

Klauzulom 16

(Troškovi i izdaci);

vii)

Klauzulom 18.5

(Provere „Upoznaj svog Klijenta”);

viii)

Klauzulom 21.1

(Ustupanje i prenos od strane Zajmodavaca);

ix)

Klauzulom 21.10

(Registar);

Klauzulom 23.13

(Zamena Agenta);

xi)

Klauzulom 26.3

(Raspodela korišćenja sredstava);

xii)

Klauzulom 33

(Poverljive informacije); i

xiii)

drugim odredbama bilo kog Finansijskog dokumenta koji jasno dodeljuje prava Izvoznoj kreditnoj agenciji UK.

U skladu sa gore navedenim stavom (a) i

Klauzulom 32.2

(Svi zajmodavci), lice koje nije Strana ovog ugovora nema prava prema Zakonu o obligacionim odnosima iz 1999. godine (Prava trećih lica) da sprovodi ili uživa prava bilo kog člana iz ovog ugovora, ali to ne utiče na prava ili pravni lek bilo koje osobe koja postoje ili su raspoloživa u skladu sa bilo kojim drugim zakonom.

2.Čl. 2.1–2.2

STUPANjE NA SNAGU

Odredba2.1

Datum stupanja na snagu

Ovaj ugovor stupa na snagu dana kada Agent obavesti Zajmoprimca o ispunjenosti sledećih uslova u obliku i sadržine koji zadovoljavaju Agenta (postupajući po uputstvima svih Zajmodavaca i Izvozne kreditne agencije UK):

(i)

objavljivanje Službenog glasnika Republike Srbije u kome je objavljen Zakon o potvrđivanju ovog ugovora od strane Narodne skupštine Republike Srbije; i

(ii)

dostavljanje pravnog mišljenja Ministarstva pravde Republike Srbije Stranama kreditnog aranžmana i Izvoznoj kreditnoj agenciji UK u vezi sa finansijskim dokumentima.

Da bi se izbegle sumnje, pre datuma Stupanja na snagu, Kreditna sredstva nisu stavljena na raspolaganje i s tim u vezi Zajmodavac nije preuzeo obaveze i nijedna Strana kreditnog aranžmana se ne obavezuje da će odobriti bilo koji Zahtev za korišćenje sredstava niti da će Sredstva staviti na raspolaganje.

Agent će odmah pismenim putem obavestiti Zajmoprimca da su uslovi ispunjeni na zadovoljavajući način.

Ne dovodeći u pitanje gore navedeni stav (a), odredbe

Klauzule 33

(Poverljive informacije) i

Klauzula 38

(Merodavno pravo) – 41 (Uručenje) (uključujući i tu Klauzulu) stupaju na snagu na datum ovog ugovora.

Odredba2.2

Krajnji rok

Ako Datum stupanja na snagu nije nastupio do datuma najkasnije 60 dana od datuma ovog ugovora (ili bilo kog kasnijeg datuma o kome je Agent, postupajući po uputstvima svih Zajmodavaca i Izvozne kreditne agencije UK, obavestio Zajmoprimca), ovaj ugovor neće stupiti na snagu i nijedna Strana neće imati nikakva prava niti obaveze prema ovom Ugovoru, osim do mere predviđene u stavu (d)

Klauzule 2.1

(Datum stupanja na snagu).

ODELjAK 2

KREDITNI ARANŽMAN

3.Čl. 3.1–3.4

KREDITNI ARANŽMAN

Odredba3.1

Kreditni aranžman

U skladu sa uslovima ovog ugovora, Zajmodavci stavljaju na raspolaganje Zajmoprimcu kreditni aranžman u Valuti aranžmana u dogovorenom iznosu jednakom Ukupnim angažovanim sredstvima (u daljem tekstu:

„Kreditni aranžman”).

Odredba3.2

Prava i obaveze Strana kreditnog aranžmana

Obaveze svake Strane kreditnog aranžmana po osnovu Finansijskih dokumenata su višestruke. Nemogućnost neke od Strana kreditnog aranžmana da izvrši svoje obaveze u skladu sa Finansijskim dokumentima ne utiče na obaveze bilo koje druge Strane po osnovu Finansijskih dokumenata. Ni jedna Strana kreditnog aranžmana nije odgovorna za obaveze druge Strane kreditnog aranžmana po osnovu Finansijskih dokumenata.

Prava svake Strane kreditnog aranžmana po osnovu Finansijskih dokumenata ili u vezi sa njima su zasebna i nezavisna prava i svako dugovanje Strane kreditnog aranžmana koje nastaje po Finansijskim dokumentima od strane Zajmoprimca predstavlja odvojen i nezavisan dug u odnosu na koji je Strana kreditnog aranžmana ovlašćena da izvrši svoja prava u skladu sa stavom (c) u daljem tekstu. Pravo svake Strane kreditnog aranžmana uključuje sva dugovanja prema toj Strani kreditnog aranžmana prema Finansijskim dokumentima i, u cilju izbegavanja svake sumnje, svaki deo kredita ili svaki drugi iznos koji Zajmoprimac duguje a koji se odnosi na učešće Strane kreditnog aranžmana u Kreditnom aranžmanu ili njene uloge prema Finansijskom dokumentu (uključujući svaki takav iznos plativ Agentu za njen račun) predstavlja dugovanje Zajmoprimca prema toj Strani kreditnog aranžmana.

Strana kreditnog aranžmana može, osim ako nije drugačije utvrđeno u Finansijskim dokumentima, odvojeno da ostvari svoja prava koja proističu iz Finansijskih dokumenata.

Odredba3.3

Obaveze Zajmoprimca

Obaveze Zajmoprimca prema ovom Ugovoru predstavljaju apsolutne, bezuslovne i neopozive finansijske obaveze prema Stranama kreditnog aranžmana. Takve obaveze su nezavisne i odvojene obaveze, bez obzira na bilo koje pitanje koje utiče na izvoznika ili Ugovor o izvozu, uključujući izvršenje, neizvršenje, nemogućnost izvršenja ili nevaljanost Ugovora o izvozu, ili uništavanje, neizvršenje ili nefunkcionisanje bilo koje robe i/ili usluga koja će se isporučiti po osnovu Ugovora o izvozu ili likvidaciji ili bankrotu Izvoznika ili bilo kog drugog lica.

Ne dovodeći u pitanje gore navedenu opštu tačku (a), Zajmoprimac potvrđuje da je njegova obaveza da u celosti plati iznos koji dospeva za plaćanje prema ovom Ugovoru na dan dospeća:

(i)

odvojena od izvršenja obaveza Izvoznika ili izvršenja obaveza bilo koje druge strane prema Ugovoru o izvozu i bilo kom drugom sporazumu koji se na njega odnose; i

(ii)

ni na koji način neće biti pod uticajem bilo kod zahteva, spora ili odbrane koje Zajmoprimac ili Kupac mogu imati ili mogu smatrati da imaju protiv bilo kog Izvoznika ili bilo kog drugog lica.

Odredba3.4

UKEF Garancija

Ne dovodeći u pitanje bilo koje druge odredbe ovog ugovora, Zajmoprimac prihvata i saglasan je da svaka Strana kreditnog aranžmana:

vrši ili se suzdržava od izvršavanja svojih prava, ovlašćenja i diskrecionih prava (uključujući davanje obaveštenja i uputstava i davanje saglasnosti, odricanja i dozvola) prema Finansijskim dokumentima samo u skladu sa pismenim uputstvom Izvozne kreditne agencije UK date Agentu i/ili Zajmodavcima; i

nije dužna prema Zajmoprimcu da postupa drugačije.

4.Čl. 4.1–4.2

SVRHA

Odredba4.1

Svrha

Zajmoprimac će sve iznose pozajmljene u okviru Kreditnog aranžmana koristiti za sledeće:

plaćanja Izvoznika po osnovu obaveza Kupca prema Ugovoru o izvozu; i

nadoknađivanje Zajmoprimcu plaćanja koja je on već izvršio Izvozniku u skladu sa Ugovorom o izvozu,

u svakom slučaju, za Podobnu robu i podobne usluge.

Odredba4.2

Nadzor

Nijedna Strana kreditnog aranžmana nije u obavezi da vrši nadzor ili verifikaciju primene bilo kog iznosa pozajmljenog u skladu sa ovim Ugovorom.

5.Čl. 5.1–5.2

USLOVI KORIŠĆENJA

Odredba5.1

Inicijalni preduslovi

Agent neće izvršiti ni jedan Zahtev za korišćenje sredstava osim ako:

(i)

Ugovor je stupio na snagu;

(ii)

Agent je primio sva dokumenta i druge dokaze navedene u Prilogu 2 (Preduslovi za Inicijalno korišćenje) u obliku i sa sadržajem zadovoljavajućim za Agenta (postupajući po uputstvima svih Zajmodavaca u smislu uslova definisanih u stavovima 5 i 6(a) Priloga 2 (Preduslovi za inicijalno korišćenje) u roku od trideset (30) dana od datuma Stupanja na snagu ovog ugovora ili kasnijeg datuma o čemu će Agent obavestiti Zajmoprimca;

(iii)

Zajmoprimac je ispunio svoje obaveze iz

Klauzule 11.4

(UKEF Naknada); i

(iv)

Agent je obavestio Zajmoprimca i Zajmodavce da su preduslovi navedeni u st. (i), (ii) i (iii) ispunjeni („Obaveštenje o ispunjenju

preduslova”).

Osim u onoj meri u kojoj bilo koji Zajmodavac obavesti drugačije Agenta pisanim putem pre nego što Agent dostavi Obaveštenje o ispunjenju preduslova, Zajmodavci ovlašćuju (ali ne zahtevaju) Agenta da uputi to obaveštenje. Agent neće biti odgovoran za bilo kakvu štetu, trošak ili gubitak bilo koje vrste koji nastane kao posledica davanja takvog obaveštenja.

Preduslovi opisani u Prilogu 2 (Preduslovi za Inicijalno korišćenje) služe Agentu i Zajmoprimcu i Agent može da odustane od nekih ili svih preduslova potpuno ili delimično i da odluči da li su i kada je svaki od preduslova zadovoljen.

Ako preduslovi iz stava (a) nisu ispunjeni u roku od trideset (30) dana od datuma Stupanja na snagu ovog ugovora, ili bilo kog kasnijeg datuma sa kojim se Agent saglasi, Agent može obavestiti Zajmoprimca da Angažovana sredstva Zajmodavaca mogu biti otkazana uz obaveštenje.

Ne dovodeći u pitanje opštu klauzulu 3.4 (UKEF Garancija), obaveza Agenta da dostavi Obaveštenje o ispunjenju preduslova kako je navedeno u

Klauzuli 5.1

, podleže pravu prvenstva Izvozne kreditne agencije UK u smislu UKEF Garancije kako bi se utvrdilo da li su inicijalni preduslovi ispunjeni ili se od njih odustalo na način koji je zadovoljavajući za Izvoznu kreditnu agenciju UK.

Odredba5.2

Dodatni preduslovi

Ne dovodeći u pitanje dole navedeni stav (b), Zajmodavci će biti u obavezi da postupaju u skladu sa

Klauzulom 6.2

(Učešće zajmodavaca) samo ako na datum Zahteva za korišćenje sredstava (ako se primenjuje) i na predloženi Datum korišćenja:

(i)

nikakvo Neispunjenje obaveza ne traje niti bi rezultiralo iz predloženog Kredita;

(ii)

su Tvrdnje Zajmoprimca koje se ponavljaju tačne;

(iii)

nema Eksterne finansijske zaduženosti dospele i neplaćene;

(iv)

nije došlo do događaja opisanih u

Klauzuli 8.1

(Nezakonitost), 8.2 (Materijalne promene Ugovora o izvozu), 8.3 (Gubitak UKEF Garancije) ili 8.4 (Incident u oblasti životne sredine i socijalnih pitanja);

(v)

Ugovor o izvozu je na snazi i nije raskinut, suspendovan ili izmenjen (osim kako je dozvoljeno ovim Ugovorom) i nije preduzeta nikakva radnja koja bi mogla dovesti do njegovog raskida ili suspenzije;

(vi)

je UKEF Garancija u potpunosti na snazi;

(vii)

se ni jedan Propis ili Zakon o sankcijama ne odnosi na Kupca niti će na drugi način uticati na njega, primanje sredstava predloženog Zajma od strane Zajmoprimca, Kupca ili bilo kog Izvoznika (u zavisnosti od slučaja) ili zaduživanje u vezi sa predloženim Zajmom;

(viii)

nije protivzakonito ili suprotno bilo kom Propisu ili Zakonu o sankcijama koji je primenjiv na Zajmodavca za predloženi Kredit;

(ix)

Izvozna kreditna agencija UK je primio celokupan iznos naknade za podršku UKEF;

(x)

ako predloženo Korišćenje u skladu sa Zahtevom za korišćenje predstavlja Zahtev za nadoknadu ili Zahtevom za plaćanje, izjave koje je Izvoznik dao u Potvrdi o prijemu Izvoznika ili u Zahtevu za plaćanje Izvozniku, prema slučaju, su tačne;

(xi)

ako je predloženi Zahtev za korišćenje Zahtev za nadoknadu, traženi iznos ne obuhvata bilo koji iznos u vezi sa plaćanjima koja je Zajmoprimac izvršio Izvozniku po Ugovoru o izvozu, a koja čine deo gotovinskog avansa na koji se odnosi uslov iz stava 4(d)(i) Priloga 2 (Uslovi za početno korišćenje) UKEF Kreditnog aranžmana iz 2021. godine;

(xii)

Zajmoprimac je dostavio kopije svih relevantnih ovlašćenja u vezi sa predloženim Zajmom, uključujući, ali ne ograničavajući se na, dokaz o uključivanju predloženog Zajma u relevantni zakon o godišnjem budžetu Republike Srbije; i

(xiii)

nije došlo do događaja ili okolnosti koji, po mišljenju većinskih zajmodavaca, predstavljaju ili mogu predstavljati materijalnu nepovoljnu promenu u relevantnoj jurisdikciji ili u njenim međunarodnim finansijskim, ekonomskim, političkim ili društvenim uslovima, uključujući bilo kakvo sniženje suverenog rejtinga relevantne jurisdikcije od strane međunarodne agencije i/ili pogoršanje finansijskog sektora relevantne jurisdikcije, rat, građanski rat, revoluciju, ustanak, terorističke i/ili sabotažne radnje, produžetak kontrole deviznog prometa ili moratorijum na dug, ili promenu zakona ili propisa, ili u političkom, ekonomskom, finansijskom, trgovinskom, pravnom i fiskalnom okruženju relevantne jurisdikcije, a koje, po mišljenju većinskih zajmodavaca, bi učinile neodgovarajućim nastavak Korišćenja.

Svaki Zajmodavac može, postupajući po svom nahođenju, da odluči da svoje učešće u svakom kreditu stavi na raspolaganje u skladu sa

članom 6.2

(Učešće zajmodavca), bez obzira na to:

(i)

da li su ispunjeni uslovi iz stava (a) gore; ili

(ii)

da li su dostavljena obaveštenja Zajmoprimcu u skladu sa stavom

(c)

Klauzule 20.14

(Ubrzanje).

Ako su neki Krediti dati i kada jedan ili više uslova iz gore navedenog stava (a) nisu ispunjeni ili nakon uručenja obaveštenja Zajmoprimcu prema stavu (c)

Klauzule 20.14

(Ubrzanje), takvi krediti će se otplatiti od strane Zajmoprimca na zahtev Agenta prema instrukcijama Većinskih zajmodavaca.

ODELjAK 3

KORIŠĆENJE

6.Čl. 6.1–6.3

KORIŠĆENJE

Odredba6.1

Korišćenje Kreditnog aranžmana

Zajmoprimac može koristiti sredstva Kreditnog aranžmana kada Agentu dostavi:

(i)

uredno popunjen Zahtev za plaćanje, na način koji je zadovoljavajući za Agenta i uz koji je priložen uredno popunjen Zahtev za plaćanje Izvoznika najkasnije do Utvrđenog vremena; ili

(ii)

uredno popunjen Zahtev za nadoknadu, na način koji je zadovoljavajući za Agenta i uz koji je priložena uredno popunjena Potvrda Izvoznika, najkasnije do Utvrđenog vremena.

Svaki Zahtev za korišćenje sredstava je neopoziv i neće se smatrati da je uredno popunjen osim:

(i)

ako je dostavljen Agentu najmanje deset (10) Radnih dana pre poslednjeg dana Perioda raspoloživosti;

(ii)

ako je predloženi Datum korišćenja Radni dan u okviru Perioda raspoloživosti;

(iii)

ako je valuta Kredita tražena u Zahtevu za korišćenje sredstava Valuta aranžmana;

(iv)

ako u vezi sa Zahtevom za plaćanje, iznos predloženog Zajma predstavlja ukupni iznos potvrđen u Zahtevu za plaćanje Izvoznika koji je priložen uz njega kao iznos koji se duguje Izvozniku prema Ugovoru o izvozu ili, ako je manji, Raspoloživa kreditna sredstva;

(v)

ako u vezi sa Zahtevom za naknadu, iznos predloženog Zajma predstavlja iznos koji ne prelazi Raspoloživa kreditna sredstva i koji iznosi najmanje 3.725.000 evra ili, ako je manji, iznos Raspoloživih kreditnih sredstava;

(vi)

ako je potpisano od strane Ovlašćenog potpisnika Zajmoprimca i Potvrda Izvoznika ili Zahtev za plaćanje Izvozniku, prema potvrdi, potpisan od strane Ovlašćenog potpisnika Izvoznika; i

(vii)

ako je priložio verodostojne kopije svakog od Zahtevanih dokumenata.

Samo jedan Zajam se može tražiti u svakom Zahtevu za korišćenje sredstava.

Minimalni iznos svakog Zahteva za korišćenje sredstava iznosiće 3.725.000 evra.

Odredba6.2

Učešće zajmodavaca

Ako su uslovi definisani ovim Ugovorom ispunjeni, svaki Zajmodavac će svoje učešće u svakom Zajmu staviti na raspolaganje do Datuma korišćenja preko svoje Kancelarije aranžmana.

Iznos učešća svakog Zajmodavca u svakom Zajmu će biti jednak udelu njegovih Raspoloživih angažovanih sredstava u Raspoloživom aranžmanu neposredno pre davanja takvog Zajma.

Agent će svakog Zajmodavca obavestiti o iznosu Zajma i iznosu njegovog učešća u tom Zajmu do Utvrđenog vremena.

Odredba6.3

Sredstva korišćenja koja se isplaćuju direktno Izvozniku

Zajmoprimac je svestan i saglasan da isplata sredstava svakog Korišćenja sredstava koja je izvršena direktno Izvozniku (na ime ispunjenja obaveza Kupca prema Izvozniku po osnovu Ugovora o izvozu) predstavlja Zajam za potrebe ovog ugovora i smatraće se da su sredstva Zajma isplaćena direktno Zajmoprimcu. Zajmoprimac će se pridržavati zahteva NBS za izveštavanje radi evidentiranja bilo koje takve uplate kao Korišćenja sredstava.

ODELjAK 4

OTPLATA, PREVREMENA OTPLATA I OTKAZIVANjE

7.Čl. 7.1–7.2

OTPLATA

Odredba7.1

Otplata Kredita

U skladu sa stavom (b) u daljem tekstu, Zajmoprimac će otplatiti preostali iznos Kredita u jednakim šestomesečnim ratama izraženih u evrima, u iznosu od 13.000.000 evra (što predstavlja 1/20 iznosa koji preostaje na poslednji dan Perioda raspoloživosti ukoliko je celokupni iznos Raspoloživih kreditnih sredstava iskorišćen tokom Perioda raspoloživosti).

Rate navedene u stavu (a) biće plaćene kao što sledi:

(i)

prva takva rata dospeva i biće plativa na Datum prve otplate; i

(ii)

Zajmoprimac će nastaviti da otplaćuje ostale rate (ili ako je manje, preostali iznos neisplaćenog iznosa Kredita) svakog sledećeg Datuma otplate sve dok se ne otplati celokupan neisplaćeni iznos Kredita.

Odredba7.2

Ponovno pozajmljivanje

Zajmoprimac ne može ponovo da pozajmi bilo koji deo Kreditnog aranžmana koji je otplaćen.

8.Čl. 8.1–8.9

PREVREMENA OTPLATA I OTKAZIVANJE

Odredba8.1

Nezakonitost

Ako za Zajmodavca jeste ili postane nezakonito da u primenjivoj nadležnosti (uključujući ali ne ograničavajući se, kao rezultat Zakona i propisa o sankcijama primenjivim na Zajmodavca) izvrši neku od svojih obaveza kako je propisano ovim Ugovorom ili da finansira ili održava svoje učešće u Kreditu ili postane nezakonito za bilo koju Filijalu Zajmodavca da to učini:

taj Zajmodavac će o tome obavestiti Agenta odmah nakon što postane upoznat sa takvim događajem;

angažovana sredstva tog Zajmodavca će biti otkazana odmah nakon što Agent o tome obavesti Zajmoprimca; i

Ukoliko učešće Zajmodavca nije preneto u skladu sa stavom (b)

Klauzule 8.7

(Pravo zamene po pitanju jedinstvenog Zajmodavca), Zajmoprimac će isplatiti učešće tog Zajmodavca u tom Kreditu na prvi dan Kamatnog perioda koji dospeva nakon što Agent o tome obavesti Zajmoprimca ili, ukoliko ranije, datuma koji je Zajmoprimac naznačio u obaveštenju dostavljenom Agentu u skladu sa gore navedenim stavom (a) (a da nije ranije od poslednjeg dana zakonom dozvoljenog grejs perioda) i odgovarajuća Angažovana sredstva Zajmodavca će biti odmah otkazana u iznosu otplaćenog učešća.

Odredba8.2

Materijalne izmene Ugovora o izvozu

Ukoliko dođe do Materijalnih izmena Ugovora o izvozu bez prethodnog odobrenja Agenta:

Zajmodavci neće imati obavezu da finansiraju Korišćenje sredstava; i

ako tako zahtevaju Većinski zajmodavci, Agent će obavestivši Zajmoprimca ne manje od pet (5) Radnih dana ranije, otkazati Ukupna angažovana sredstva i proglasi sve neplaćene kredite odmah dospelim i plativim zajedno sa kamatom prema Finansijskim dokumentima, nakon čega će Ukupna angažovana sredstva biti otkazana, Kreditni aranžman će odmah prestati da bude dostupan za dalje korišćenje, a svi takvi zajmovi, dospela kamata i ostali iznosi postaju odmah dospeli za plaćanje.

Odredba8.3

Gubitak UKEF Garancije

Ako UKEF Garancija prestane da obezbeđuje puno pokriće Zajmodavcu ili postane nezakonito za Izvoznu kreditnu agenciju UK da ispunjava bilo koje od svojih obaveza prema UKEF Garanciju prema Zajmodavcu ili bilo koja obaveza ili obaveze Izvozne kreditne agencije UK po UKEF Garanciji nisu ili prestanu da budu pravne, valjane, obavezujuće ili primenljive ili UKEF Garancija nije pravosnažna i ne proizvodi pravne učinke ili to prestaje da bude iz razloga koji nisu grubi nemar ili namerno postupanje relevantnog Zajmodavca:

relevantni Zajmodavac nije u obavezi da finansira Korišćenje sredstava; i

ukoliko Zajmodavac tako zahteva, Agent će obaveštenjem Zajmoprimcu ne manje od (30) dana ranije otkazati Angažovana sredstva tog Zajmodavca i proglasiti učešće tog Zajmodavca u svim neplaćenim kreditima odmah dospelim i plativim, zajedno sa kamatom i svim drugim iznosima prema Finansijskim dokumentima odmah dospelim i plativim, nakon čega će Angažovana sredstva tog Zajmodavca biti otkazana i ti neplaćeni iznosi postaju odmah dospeli i plativi.

Odredba8.4

Incident u oblasti životne sredine i socijalnih pitanja

Ukoliko dođe do Incidenta u oblasti životne sredine i socijalnih pitanja u skladu sa stavom (d)(i)(D) (Okidači u oblasti životne sredine i socijalnih pitanja)

(Obaveze u oblasti životne sredine) ili se smatra da nije moguće rešiti Incident u oblasti životne sredine i socijalnih pitanja u skladu sa stavom (d)(ii) (Okidači u oblasti životne sredine i socijalnih pitanja)

(Obaveze u oblasti životne sredine):

Zajmodavci nisu u obavezi da finansiraju Korišćenje sredstava; i

Agent će ne manje od pet (5) Radnih dana od obaveštenja dostavljenog Zajmoprimcu, otkazati Ukupna angažovana sredstva i proglasiti da će svi Krediti, zajedno sa obračunatom kamatom i svim drugim iznosima obračunatim ili nedospelim u skladu sa Finansijskim dokumentima biti odmah dospeli i plativi, nakon čega će Ukupna angažovana sredstva biti odmah otkazana, Kredini aranžman će odmah prestati da bude dostupan za dalje korišćenje i svi takvi Zajmovi, obračunata kamata i drugi iznosi postaće odmah dospeli i plativi.

Odredba8.5

Dobrovoljno otkazivanje

Zajmoprimac ne može otkazati ceo ili bilo koji deo Raspoloživih sredstava, osim ako nije drugačije dogovoreno sa Agentom.

Odredba8.6

Dobrovoljna prevremena otplata Kredita

U skladu sa stavom (b) u daljem tekstu, Zajmoprimac može, ukoliko dostavi Agentu prethodno obaveštenje najmanje trideset (30) Radnih dana ranije (ili nakon kraćeg perioda oko koga se saglase Većinski zajmodavci), prevremeno otplati celokupan ili bilo koji deo Kredita, ali, ukoliko otplaćuje deo, to mora biti deo koji smanjuje iznos Kredita u minimalnom iznosu od 5.000.000 evra.

Kredit se može prevremeno otplatiti samo nakon poslednjeg dana Perioda raspoloživosti (ili ako je ranije, onda dana kada su Raspoloživa sredstva jednaka nuli).

U slučaju Zajma sa složenom kamatnom stopom, Zajmoprimac neće izvršiti više od četiri (4) prevremene uplate tokom svakog perioda od dvanaest (12) meseci, počev od datuma prve otplate (ili prevremene uplate) za taj Zajam sa složenom kamatnom stopom.

Svaka prevremena otplata prema

Klauzuli 8.6

ispunjava obaveze Zajmoprimca u skladu sa

Klauzulom 7.1

(Otplata Kredita) u obrnutom hronološkom redu od Datuma otplate.

Odredba8.7

Pravo zamene po pitanju jedinstvenog Zajmodavca

Ako:

(i)

bilo koji iznos plativ bilo kom Zajmodavcu od strane Zajmoprimca mora biti uvećan u skladu sa stavom (c)

Klauzule 12.2

(Bruto porez); ili

(ii)

bilo koji Zajmodavac traži refundaciju od Zajmoprimca u skladu sa

Klauzulom 12.3

(Poreska refundacija) ili

Klauzulom 13.1

(Povećani troškovi),

Zajmoprimac može dati Agentu obaveštenje o svojim namerama da zameni Zajmodavca u skladu sa dole navedenim stavom (b), uz prethodno pisano odobrenje Agenta, sve dok se nastavljaju okolnosti koje su pokrenule zahteve za povećanje ili odštetu.

Ako:

(i)

se bilo koja od okolnosti definisana u stavu (a) primenjuje na Zajmodavca; ili

(ii)

Zajmoprimac postaje obavezan da plati bilo koji iznos u skladu sa

Klauzulom 8.1

(Nezakonitost) bilo kom Zajmodavcu,

Zajmoprimac može, uz prethodno obaveštenje ne manje od trideset (30) Radnih dana ranije Agentu i tom Zajmodavcu, zameniti tog Zajmodavca tako što će zahtevati od tog Zajmodavca (u meri u kojoj je zakonom dozvoljeno) da prenese u skladu sa

(Promene Zajmodavaca) sva (a ne samo deo) svoja prava i obaveze prema Ugovoru Zajmodavcu ili drugoj banci, finansijskoj instituciji, trastu, fondu ili drugim institucijama po odabiru Zajmoprimca čime se potvrđuje njegova spremnost da preuzme i preuzima sve obaveze Zajmodavca koji prenosi prava i obaveze u skladu sa

(Promene Zajmodavaca) po kupovnoj ceni u gotovini plativo u trenutku prenosa u iznosu jednakom neizmirenoj glavnici učešća tog Zajmodavca u neizmirenim Zajmovima i svim dospelim kamatama (ako Agent nije dao obaveštenje prema

Klauzuli 21.9

(Proporcionalno plaćanje kamate)), Naknada za odstupanje od ugovorenih rokova i drugim iznosima plativim a vezanim za učešće prema Finansijskim dokumentima.

Na zamenu Zajmodavca u skladu sa gore navedenim stavom (b), primenjivaće se sledeći uslovi:

(i)

Zajmoprimac nema prava da zameni Agenta;

(ii)

ni Agent ni bilo koji Zajmodavac ne mogu imati bilo kakve obaveze po pitanju nalaženja zamene za Zajmodavca;

(iii)

od Zajmodavca zamenjenog prema stavu (b) ni u kom slučaju neće se zahtevati da plati ili se odrekne bilo koje naknade koju je taj Zajmodavac primio u skladu sa finansijskim dokumentima; i

(iv)

Zajmodavac će biti u obavezi da prenese svoja prava i obaveze u skladu sa gore navedenim stavom (b) samo kada je primenio sve neophodne provere „upoznaj svog Klijenta“ ili druge slične provere u skladu sa merodavnim zakonima koji se odnose na taj prenos.

Zajmodavac će obaviti provere opisane u stavu (c)(iv) čim bude razumno prihvatljivo nakon dostavljanja obaveštenja iz stava (b) i obavestiće Agenta i Zajmoprimca kada bude sproveo sve navedene provere.

Odredba8.8

Ograničenja

Sva obaveštenja bilo koje strane o otkazu ili prevremenoj otplati će prema ovoj

Klauzuli 8

biti neopoziva i, osim ukoliko se u ovom Ugovoru ne pojavi suprotna naznaka, definisaće datum ili datume kada treba izvršiti relevantan otkaz ili prevremenu otplatu, kao i iznos tog otkaza ili prevremene otplate.

Svaka prevremena otplata po osnovu ovog ugovora vršiće se zajedno sa obračunatom kamatom na prevremeno otplaćeni iznos i biće predmet Naknade za odstupanje od ugovorenih rokova, bez premije ili penala.

Zajmoprimac ne može ponovo pozajmiti onaj deo Kreditnog aranžmana koji je već prevremeno otplaćen.

Zajmodavac neće otplatiti ili prevremeno otplatiti ceo Kredit ili bilo koji njegov deo osim u vreme i na način izričito definisanim ovim Ugovorom.

Nijedan iznos Ukupnih angažovanih sredstava otkazan u skladu sa ovim Ugovorom ne može biti kasnije ponovo stavljen na raspolaganje.

Ako Agent primi obaveštenje u skladu sa

Klauzulom 8

, odmah će primerak tog obaveštenja proslediti Zajmoprimcu ili na koga se to obaveštenje odnosi, u zavisnosti od slučaja.

Ukoliko je celokupan ili deo bilo kog dela učešća Zajmodavca u Zajmu otplaćen ili prevremeno plaćen, smatraće se da je iznos učešća Zajmodavca (jednak iznosu učešća koji je otplaćen ili prevremeno plaćen) poništen na datum otplate ili prevremenog plaćanja.

Odredba8.9

Primena prevremenog plaćanja

Svaka prevremena otplata Zajma u skladu sa Klauzulom 8.2 (Materijalna promena Ugovora o izvozu), Klauzulom 8.4 (Incidenti u oblasti životne sredine i socijalnih pitanja) ili Klauzulom 8.6 (Dobrovoljno prevremeno plaćanje Zajma) će se primenjivati proporcionalno učešću svakog Zajmodavca u Zajmu.

ODELjAK 5

TROŠKOVI KORIŠĆENJA SREDSTAVA

9.Čl. 9.1–9.8

KAMATA

Odredba9.1

Obračun kamate

Kamatna stopa na svaki Zajam za svaki Kamatni period predstavlja procentualnu godišnju stopu koja je zbir važećih:

Marže; i

EURIBOR.

Odredba9.2

Obračun kamate - Zajmovi sa složenom kamatnom stopom

Kamatna stopa na svaki Zajam sa složenom kamatnom stopom za bilo koji dan tokom Kamatnog perioda predstavlja procentualnu godišnju stopu koja je zbir važećih:

(i)

Margine; i

(ii)

Složene referentne kamatne stope za taj dan.

Ako bilo koji dan tokom Kamatnog perioda za Zajam sa složenom kamatnom stopom nije Referentni bankarski dan, kamatna stopa na taj Zajam sa složenom kamatnom stopom za taj dan biće stopa koja se primenjuje na neposredno prethodni Referentni bankarski dan.

Odredba9.3

Plaćanje kamate

Zajmoprimac će plaćati dospelu kamatu za svaki Kredit svakog Datuma za plaćanje kamate.

Odredba9.4

Zatezna kamata

Ako Zajmoprimac ne plati iznos plativ po osnovu Dokumenta o finansiranju na datum dospeća, kamata će se obračunavati na neizmireni iznos od datuma dospeća do datuma stvarnog plaćanja (kako pre tako i nakon presude) po stopi, u skladu sa stavom (b) u daljem tekstu, koja je dva procenta (2,00%) na godišnjem nivou viša od stope koja bi se plaćala da je zakasneli iznos, tokom perioda neplaćanja, činio Zajam u valuti zakasnelog iznosa za sledeće Kamatne periode, u trajanju svakog od njih po odabiru Agenta (postupajući razumno). Na zahtev Agenta, Zajmoprimac će odmah izvršiti plaćanje kamate obračunate u skladu sa

Klauzulom 9.4.

Ako se zakasneli iznos sastoji od celog Kredita, ili njegovog dela, koji dospeva na dan koji nije poslednji dan Kamatnog perioda:

(i)

prvi Kamatni period za taj zakasneli iznos će imati trajanje jednak neisteklom delu tekućeg Kamatnog perioda koji se odnosi na taj Zajam; i

(ii)

kamatna stopa koja se primenjuje na zakasneli iznos tokom tog prvog Kamatnog perioda će biti godišnje za 2 procenta (2,00%) viša od stope koja bi se primenjivala da zakasneli iznos nije dospeo.

Zatezna kamata (ako nije plaćena) koja nastaje po osnovu zakasnelog iznosa će se dodati na zakasneli iznos na kraju svakog Kamatnog perioda primenjivog na taj zakasneli iznos, ali će i dalje biti odmah dospela i plativa.

Odredba9.5

Obaveštenje o kamatnim stopama

Agent će odmah obavestiti Zajmodavce i Zajmoprimca o utvrđivanju kamatne stope po ovom Ugovoru.

Agent će odmah obavestiti Zajmoprimca o svim Stopama finansiranja koje se odnose na Kredit.

Odredba9.6

Kamatni periodi

Period neizmirenja svakog Kredit biće podeljen na uzastopne Kamatne periode.

Prvi dan Kamatnog perioda za svaki Kredit počinje:

(i)

od Datuma korišćenja, za prvi Kamatni period tog Kredita; i

(ii)

za svaki naredni dan Kamatnog perioda, Datum plaćanja kamate prethodnog Kamatnog perioda.

Poslednji dan Kamatnog perioda za svaki Kredit će biti (u skladu sa stavom (d) u daljem tekstu) pre:

(i)

datuma koji pada šest (6) kalendarskih meseci nakon prvog dana tog Kamatnog perioda;

(ii)

Datum plaćanja kamate za bilo koji drugi Zajam; i

(iii)

prvi Datum otplate koji nastupa nakon prvog dana Kamatnog perioda;

Ako Datum korišćenja Kredita dospeva za manje od petnaest (15) dana pre Datuma plaćanja kamate, prvi Kamatni period za Kredit će se završiti na Datum plaćanja kamate koji sledi nakon Datuma plaćanja kamate odmah nakon Datuma korišćenja.

Odredba9.7

Neradni dani

Ako se Kamatni period završava na dan koji nije Radni dan, Kamatni period će se u tom slučaju završiti prvog sledećeg Radnog dana u kalendarskom mesecu (ukoliko ga ima) ili prethodnog Radnog dana (u suprotnom).

Odredba9.8

Konsolidacija kredita

Ako se dva ili više Kamatnih perioda odnose na Kredite i padaju na isti dan, ti Krediti će se konsolidovati ili će se tretirati kao jedinstveni Kredit poslednjeg dana Kamatnog perioda.

10.Čl. 10.1–10.4

IZMENE U OBRAČUNU KAMATE

Odredba10.1

Nedostupnost Kotirane stope

Ukoliko nije dostupna Kotirana stopa za EURIBOR za Kamatni period Zajma, primenjivi EURIBOR će biti Interpolirana Kotirana stopa za period koji je jednak dužini Kamatnog perioda tog Zajma.

Ako se primenjuje stav (a) iznad, ali nije moguće izračunati Interpoliranu Kotiranu stopu, onda:

(i)

neće se primeniti EURIBOR stopa na taj Zajam za taj Kamatni period i

klauzula 9.1

(Obračun kamate) neće se primenjivati na taj Zajam za taj Kamatni period; i

(ii)

taj Zajam će biti Zajam sa složenom kamatnom stopom za taj Kamatni period i

klauzula 9.2

(Obračun kamate - Zajmovi sa složenom kamatnom stopom) će se primenjivati na taj Zajam za taj Kamatni period; ili

Ako se stav (b) iznad primenjuje, ali nije moguće izračunati Složenu referentnu za taj Zajam, primeniće se

(Troškovi sredstava) na taj Zajam za taj Kamatni period.

Odredba10.2

Poremećaj na tržištu

Ukoliko pre završetka poslovanja u Londonu na Dan kotacije za relevantni Kamatni period Agent dobije obaveštenje od Zajmodavca ili Zajmodavaca (čije učešće u Zajmu prelazi četrdeset procenata (40%) Zajma) da bi cena njegovog finansiranja učešća u Zajmu iz bilo kog izvora koji može razumno izabrati bila veća od EURIBOR stope, onda se primenjuje

(Troškovi sredstava) na Zajam za taj relevantni Kamatni period.

Odredba10.3

Troškovi sredstava

Ukoliko se ova

primeni, kamatna stopa svakog udela Zajmodavca u Kreditu za kamatni period će biti procentualna godišnja stopa, koja je zbir:

(i)

Marže; i

(ii)

stope o kojoj je obavešten Agent od strane tog Zajmodavca što je pre izvodljivo i u svakom slučaju pre datuma dospeća kamate za plaćanje u vezi sa tim Kamatnim periodom, da bude ta koja je izražena kao procentualna godišnja stopa troška tog Zajmodavca sredstava kojima učestvuje u Kreditu, nevezano za to iz kog su izvora razumno izabrane.

Ukoliko se ova

primeni i Agent ili Zajmodavac tako zahtevaju, Agent ili Zajmodavac će ući u pregovore (na period ne duži od trideset dana) u cilju dogovaranja supstitutivne osnove za određivanje kamatne stope.

bilo koja alternativna osnova dogovorena u skladu sa stavom (b), će, uz prethodnu saglasnost Zajmodavaca i Zajmoprimca, biti obavezujuća za sve Strane.

Odredba10.4

Naknada za odstupanje od ugovornih rokova

Zajmoprimac će, u roku od deset (10) Radnih dana od zahteva upućenog od Strane kreditnog aranžmana, platiti toj Strani kreditnog aranžmana Naknadu za odstupanje od ugovorenih rokova pripisive celokupnom ili delu Zajma ili Neplaćenog iznosa koje je namirio Zajmoprimac dana koji nije Datum plaćanja kamate za potrebe Zajma ili Neplaćenog iznosa.

Svaki Zajmodavac će, čim bude razumno izvodljivo a nakon što Agent to zatraži, dostaviti potvrdu kojom se potvrđuje iznos Naknade za odstupanje od ugovorenih rokova za svaki Kamatni period.

11.Čl. 11.1–11.4

NAKNADE

Odredba11.1

Naknada za angažovana sredstva

Zajmoprimac će platiti Agentu (za račun svakog Zajmodavca) naknadu u iznosu od četrdeset procenata (40%) primenljive Marže na godišnjem nivou na raspoloživa angažovana sredstva svakog Zajmoprimca za Period raspoloživosti.

Obračunata naknada za angažovana sredstva u skladu sa stavom (a) plaća se:

(i)

tokom Perioda raspoloživosti, svakog 31. marta, 30. juna, 30. septembra i 31. decembra;

(ii)

poslednjeg dana Perioda raspoloživosti; i

(iii)

ukoliko je u potpunosti otkazan, nakon Datuma stupanja na snagu, otkazani iznos relevantnih Angažovanih sredstava Zajmodavca u trenutku kada je došlo do otkaza.

Odredba11.2

Naknada za aranžiranje

Zajmoprimac će platiti Prvobitno ovlašćenom vodećem aranžeru (za račun Aranžera), preko Agenta, naknadu za aranžiranje u iznosu i u rokovima dogovorenim u Pismu o naknadama.

Odredba11.3

Naknada Agencije

Zajmoprimac će platiti Agentu (za svoj račun) agencijsku naknadu u iznosu i u rokovima dogovorenim u Pismu o naknadama.

Odredba11.4

UKEF Naknada

Zajmoprimac će platiti Izvozne kreditne agencije UK (u skladu sa obavezama Zajmodavaca prema UKEF Garanciji) iznos jednak UKEF Naknadi na Prvi dan korišćenja ili pre tog datuma.

ODELjAK 6

DODATNE OBAVEZE PLAĆANJA

12.Čl. 12.1–12.8

BRUTO POREZ I REFUNDIRANJE

Odredba12.1

Definicije poreza

Za potrebe ovog ugovora,

„Zaštićena strana” označava Stranu kreditnog aranžmana koja je ili će biti podložna obavezi, ili će biti u obavezi da izvrši plaćanje, za ili na račun Poreza u vezi sa iznosom dobijenim ili koji se potražuje (ili iznosom koji se smatra za svrhe Poreza da će se dobiti ili da će se potraživati) po osnovu Dokumenta o finansiranju;

„Poreski kredit” označava kredit, olakšicu ili oslobođenje, ili otplatu Poreza;

„Poreski odbitak” označava odbitak ili obustavljanje za ili na račun Poreza od plaćanja po osnovu Dokumenta o finansiranju, osim FATCA odbitka; i

„Plaćanje poreza” označava ili povećanje plaćanja izvršenog od strane Zajmoprimca prema Strani kreditnog aranžmana po

Klauzuli 12.2

(Bruto porez) ili plaćanje po osnovu

Klauzule 12.3

(Poreska refundacija).

Osim ukoliko je suprotno navedeno, u ovoj

Klauzuli 12

upućivanje na „određuje” ili „određen” znači određivanje po apsolutnom diskrecionom pravu lica koje vrši određivanje.

Odredba12.2

Bruto porez

Zajmoprimac će izvršiti sva plaćanja koje treba da izvrši bez Poreskog odbitka, osim ako je Poreski odbitak predviđen zakonom.

Zajmoprimac će odmah po saznanju da mora da izvrši Odbitak poreza (ili da je nastala promena stope ili osnovice Poreskog odbitka) shodno obavestiti Agenta. Slično tome, Zajmodavac će obavestiti Agenta o tom saznanju vezano za plaćanje koje je plativo prema tom Zajmodavcu. Ukoliko Agent dobije takvo obaveštenje od Zajmodavca on će obavestiti Zajmoprimca.

Ukoliko je zakonom predviđeno da Zajmoprimac izvrši Odbitak poreza, iznos plaćanja koji duguje Zajmoprimac će se povećati do iznosa koji je (nakon Odbitka poreza) jednak plaćanju koje bi se dugovalo da nije bio predviđen Poreski odbitak.

Ukoliko je Zajmoprimac u obavezi da izvrši Odbitak poreza, taj Zajmoprimac će izvršiti Odbitak poreza i sva plaćanja potrebna u vezi sa Odbitkom poreza u dozvoljenom vremenskom okviru i u zakonski dozvoljenom minimalnom iznosu.

U roku od trideset (30) dana od izvršenja Odbitka poreza ili traženog plaćanja u vezi sa Odbitkom poreza, Zajmoprimac koji izvršava Odbitak poreza će Agentu dostaviti za Stranu kreditnog aranžmana koja ima pravo na plaćanje dokaz zadovoljavajući za tu Stranu kreditnog aranžmana da je izvršen Odbitak poreza ili (ako je primenjivo) izvršeno plaćanje relevantnom poreskom organu.

Odredba12.3

Poreska refundacija

Zajmoprimac će (u roku od pet (5) Radnih dana od zahteva Agenta) platiti Zaštićenoj strani iznos koji je jednak gubitku, obavezi ili trošku koji Zaštićena strana odredi da će biti ili da je (direktno ili indirektno) pretrpljen za ili na račun Poreza od strane Zaštićene strane po osnovu Dokumenta o finansiranju.

Stav (a) gore neće se primenjivati:

(i)

po osnovu Poreza obračunatog za Stranu kreditnog aranžmana:

(A) po pravu jurisdikcije u kojoj je ta Strana kreditnog aranžmana konstituisana ili, u drugačijem slučaju, jurisdikcije (ili jurisdikcija) u kojoj se ta Strana kreditnog aranžmana tretira kao rezident za svrhe poreza; ili

(B) po pravu jurisdikcije u kojoj se nalazi Kancelarija aranžmana te Strane kreditnog aranžmana po osnovu iznosa dobijenih ili koji se potražuju u toj jurisdikciji,

ukoliko je taj Porez uveden ili obračunat na osnovu neto prihoda koji je dobila ili koji potražuje (ali ne bilo koji iznos koji se smatra da je dobila ili potražuje) ta Strana kreditnog aranžmana; ili

ii)

ukoliko se iznos, obaveza ili trošak:

(A) nadoknade povećanjem plaćanja iz

Klauzule 12.2

(Bruto porez); ili

(B) se odnosi na FATCA odbitak zahtevan od Strane.

Zaštićena strana koja potražuje ili namerava da potražuje u skladu sa gore navedenim stavom (a) odmah će obavestiti Agenta o slučaju koji će dovesti ili je doveo do nastanka potraživanja, nakon čega će Agent obavestiti Zajmoprimca.

Zaštićena strana će nakon prijema plaćanja od Zajmoprimca po osnovu ove

Klauzule 12.3

, obavestiti Agenta.

Odredba12.4

Poreski kredit

Ukoliko Zajmoprimac izvrši Plaćanje poreza i relevantna Strana kreditnog aranžmana odredi da:

se Poreski kredit pripisuje bilo povećanom plaćanju čiji deo čini to Plaćanje poreza, ili tom Plaćanju poreza ili Odbitku poreza usled čega je to Plaćanje poreza traženo; i

je ta Strana kreditnog aranžmana dobila i koristila taj Poreski kredit, Strana kreditnog aranžmana će platiti iznos Zajmoprimcu koji ta Strana kreditnog aranžmana odredi i ostaviti ga u istoj poziciji nakon oporezivanja u kojoj bi bio Zajmoprimac da nije izvršio Plaćanje poreza.

Odredba12.5

Takse

Zajmoprimac će platiti i, u roku od tri (3) Radna dana od zahteva, nadoknaditi svakoj Strani kreditnog aranžmana trošak, gubitak ili obavezu koja nastane za tu Stranu kreditnog aranžmana u vezi sa taksama, registracijom ili sličnim Porezima koji se plaćaju po osnovu Dokumenta o finansiranju.

Odredba12.6

PDV

Svi iznosi određeni, ili izraženi kao plativi po Dokumentu o finansiranju od bilo koje Strane Strani kreditnog aranžmana koji (u celosti ili delimično) čine nadoknadu za svrhe PDV-a će se smatrati da isključuju PDV koji se naplaćuje na robu i usluge, i shodno, u skladu sa stavom (b) u daljem tekstu, ako se PDV plaća na bilo koju robu i usluge koje Strana kreditnog aranžmana obezbedi nekoj Strani po osnovu Dokumenta o finansiranju, ta Strana će platiti Strani kreditnog aranžmana (uz i istovremeno sa plaćanjem naknade) iznos koji je jednak iznosu PDV-a (i ta Strana kreditnog aranžmana će odmah dostaviti odgovarajuću potvrdu o PDV-u toj Strani).

Ukoliko se PDV naplaćuje na robu i usluge obezbeđene od Strane kreditnog aranžmana (u daljem tekstu: „Dobavljač”) drugoj Strani kreditnog aranžmana (u daljem tekstu: „Primalac”) po osnovu Dokumenta o finansiranju, i Strana koja nije Primalac (u daljem tekstu: „Relevantna strana”) treba po uslovima Dokumenta o finansiranju da plati iznos koji je jednak nadoknadi za tu robu i usluge Dobavljaču (a ne da treba da se plaća nadoknada Primaocu po osnovu te naknade):

(i)

(kada je Dobavljač lice koje je dužno da nadležnom poreskom organu obračunava PDV), ta Strana će takođe platiti Dobavljaču (uz i istovremeno sa plaćanjem tog iznosa) iznos jednak iznosu tog PDV-a. Primalac će (gde se ovaj stav (i) primenjuje) odmah platiti Relevantnoj strani iznos jednak kreditu ili povraćaju od relevantnog poreskog organa koju razumno odredi vezano za PDV koji se naplaćuje za tu isporuku; i

(ii)

(kada je Primalac lice koje je dužno da nadležnom poreskom organu obračunava PDV) Relevantna strana mora odmah, nakon zahteva od Primaoca, da plati Primaocu iznos koji je jednak PDV-u koji se obračunava na tu isporuku ali samo u meri u kojoj Primalac razumno utvrdi da nema pravo na kredit ili povraćaj od nadležnog poreskog organa u vezi sa tim PDV-om.

U slučaju kada je predviđeno Dokumentom o finansiranju da Strana plati ili nadoknadi Strani kreditnog aranžmana troškove ili izdatke, ta Strana će platiti ili nadoknaditi (u zavisnosti od slučaja) toj Strani kreditnog aranžmana celokupan iznos tih troškova ili izdataka, uključujući deo koji predstavlja PDV, osim ako ta Strana kreditnog aranžmana razumno odredi da ima pravo na kredit ili povraćaj tog PDV-a od strane relevantnog poreskog organa.

Bilo koje upućivanje na ovu Klauzulu 12.6 bilo koje Strane će, u bilo kom trenutku kada je ta Strana tretirana kao član grupe za potrebe PDV-a, uključiti (tamo gde je to primereno i osim ako kontekst ne zahteva drugačije) i referencu na lice koje se u tom trenutku smatra licem koje vrši isporuku ili (prema potrebi) prima isporuku, u skladu sa pravilima o PDV grupisanju (predviđenim u

Članu 11

Direktive Saveta 2006/112/ES (ili kako je sprovedeno u nadležnoj državi članici Evropske unije) ili bilo kojom drugom sličnom odredbom u bilo kojoj jurisdikciji koja nije država članica Evropske unije), tako da se referenca na Stranu tumači kao referenca na tu Stranu ili na odgovarajuću grupu ili jedinstvo (ili fiskalno jedinstvo) čiji je ta Strana član za svrhe PDV-a u relevantnom trenutku, ili na odgovarajućeg predstavničkog člana (ili predstavnika ili nosioca) te grupe ili jedinstva (ili fiskalnog jedinstva) u relevantnom trenutku (prema potrebi).

U vezi sa bilo kojom nabavkom koju vrše Strane kreditnog aranžmana bilo kojoj Strani u Dokumentu o finansiranju, ukoliko ta Strana kreditnog aranžmana to razumno zatraži, ta Strana mora odmah da dostavi toj drugoj Strani kreditnog aranžmana detalje o PDV registraciji i sve druge informacije kako se to može razumno zatražiti u vezi sa obavezama PDV izveštavanja te Strane kreditnog aranžmana u vezi sa tom nabavkom.

Odredba12.7

FATCA informacije

U skladu sa stavom (c) ispod, svaka Strana će u roku od deset (10) Radnih dana od razumnog zahteva prema drugoj Strani:

(i)

potvrditi toj drugoj Strani da li je:

(A) Strana izuzeta od FATCA; ili

(B) nije Strana izuzeta od FATCA;

ii)

dostaviti toj drugoj Strani one obrasce, dokumentaciju i druge informacije koje se odnose na njen status po osnovu FATCA koje ta druga Strana može razumno zatražiti za potrebe poštovanja obaveza iz FATCA te druge strane; i

iii)

dostaviti toj drugoj Strani one obrasce, dokumentaciju i druge informacije koje se odnose na njen status koje ta druga Strana može razumno zatražiti za potrebe poštovanja obaveza te druge strane u skladu sa bilo kojim drugim zakonom, propisom ili režimom za razmenu informacija.

Ukoliko Strana potvrdi drugoj Strani u skladu sa gore navedenim stavom (a)(i), da je Strana izuzeta od FATCA, a nakon toga sazna da nije ili je prestala da bude Strana izuzeta od FATCA, ta Strana će obavestiti tu drugu Stranu u razumno kratkom roku.

Stav (a) ne obavezuje bilo koju Stranu kreditnog aranžmana da uradi bilo šta i stav (a)(iii) ne obavezuje drugu Stranu da uradi bilo šta, što bi po njenom razumnom mišljenju predstavljalo ili moglo predstavljati kršenje:

(i)

bilo kog zakona ili propisa;

(ii)

bilo koje fiducijarne dužnosti; ili

(iii)

bilo koje poverljive dužnost.

Ukoliko Strana ne potvrdi da li je Strana izuzeta od FATCA ili ne dostavi obrasce, dokumentaciju i druge informacije zatražene u skladu sa gore navedenim stavom (a)(i) ili (a)(ii) (uključujući, za potrebe izbegavanja svake sumnje, kada se gore navedeni stav (c) primenjuje), onda će se ta Strana tretirati, za potrebe Dokumenata o finansiranju (i plaćanja po osnovu njih) kao da nije Strana izuzeta od FATCA do onog trenutka kada predmetna Strana dostavi zatražene potvrde, obrasce, dokumentaciju ili druge informacije.

Odredba12.8

FATCA odbitak

Svaka Strana može da izvrši bilo koji FATCA odbitak koji treba da izvrši po osnovu FATCA i bilo koje plaćanje koje se zahteva u vezi sa FATCA odbitkom i neće se zahtevati od bilo koje Strane da poveća bilo koje plaćanje u vezi sa kojim izvrši FATCA odbitak ili da na drugi način izvrši kompenzaciju plaćanja za taj FATCA odbitak.

Svaka strana će odmah, nakon što bude upoznata da mora da izvrši FATCA odbitak (ili ukoliko ima bilo kakve promene stope ili osnovice za taj FATCA odbitak) obavestiti Stranu kojoj vrši plaćanje i pored toga obavestiti Zajmoprimca i Agenta, a Agent će obavestiti druge Strane kreditnog aranžmana.

13.Čl. 13.1–13.3

POVEĆANI TROŠKOVI

Odredba13.1

Povećani troškovi

Podložno

Klauzuli 13.3

(Izuzeća), Zajmoprimac će, u roku od dvadeset

(20)

dana od zahteva Agenta, platiti na ime Strane kreditnog aranžmana iznos Povećanih troškova koji nastanu za tu Stranu kreditnog aranžmana ili njenu Filijalu kao posledica:

(i)

Unošenje bilo kojih izmena (ili tumačenja, administriranja ili primene) zakona ili propisa, nakon datuma ovog ugovora;

(ii)

usklađivanja sa zakonom ili propisom donesenim nakon datuma ovog ugovora; ili

(iii)

implementacije ili primene ili poštovanja Bazela III ili CRD IV ili bilo kog drugog zakona ili propisa kojim se implementira Bazel III ili CRD IV (bez obzira da li je ta implementacija, primena ili poštovanje od strane Vlade, regulatora, Strane kreditnog aranžmana ili bilo koje njene Filjale).

Za potrebe ovog ugovora:

„Bazel III” označava:

sporazume o zahtevima u pogledu visine kapitala, koeficijentima zaduženosti i likvidnosti koji su sadržani u „Bazelu III: Globalni regulatorni okvir za otpornije banke i bankarske sisteme”, „Bazel III: Međunarodni okvir za merenje izloženosti riziku likvidnosti, standarde i monitoring ovog rizika” i „Smernicama za nacionalne vlasti koje uvode kontraciklični kapitalni amortizer” koje je objavio Bazelski komitet za superviziju banaka u decembru 2010, uključujući izmene, dopune ili dorade;

pravila za globalno sistemski značajne banke sadržana u dokumentu „Globalno sistemski značajne banke: metodologija za utvrđivanje i dodatni zahtevi za apsorbciju gubitaka – tekst sa pravilima” koji je objavio Bazelski komitet za superviziju banaka u novembru 2010. godine uključujući izmene, dopune ili dorade; i

sve dalje smernice ili standarde koje je objavio Bazelski komitet za superviziju banaka u vezi sa „Bazelom III”;

„Bazelski komitet” označava Bazelski komitet za superviziju banaka.

„CRD IV” označava:

Regulativu (EU) br. 575/2013 Evropskog Parlamenta i Saveta od

26. juna 2013. godine o prudencijalnim zahtevima kreditnih institucija i investicionih kompanija i kojom se menja Regulativa (EU br. 648/2012); i

Direktivu 2013/36/EU Evropskog Parlamenta i Saveta od 26. juna

2013. o pristupu aktivnostima kreditnih institucija i prudencijalnoj superviziji kreditnih institucija i investicionih kompanija, kojom se menja Direktiva 2002/87/EC i ukidaju Direktive 2006/48/EC i 2006/49/EC; i

„Povećani troškovi“ označavaju:

smanjenje stope prinosa od Kreditnog aranžmana ili na ukupni kapital Strane kreditnog aranžmana (ili njene Filijale);

dodatne ili povećane troškove; ili

smanjenje iznosa koji je dospeo i plativ po osnovu Dokumenta o finansiranju,

koji nastanu ili koje pretrpi Strana kreditnog aranžmana ili njena Filijala pod uslovom da se može pripisati toj Strani kreditnog aranžmana koja je stupila u svoje Angažovanje sredstava ili finansiranje ili izvršavanje obaveza po Dokumentu o finansiranju.

Odredba13.2

Potraživanja po osnovu povećanih troškova

Strana kreditnog aranžmana koja namerava da potražuje u skladu sa

Klauzulom 13.1

(Povećani troškovi) obavestiće Agenta o slučaju koji dovodi do nastanka potraživanja, nakon čega će Agent odmah obavestiti Zajmoprimca.

Svaka Strana kreditnog aranžmana će, čim bude izvodljivo po zahtevu Agenta, dostaviti potvrdu o iznosu njenih Povećanih troškova.

Odredba13.3

Izuzeća

Klauzula 13.1

(Povećani troškovi) se ne primenjuju ukoliko se Povećani troškovi:

mogu pripisati Odbitku poreza koji Zajmoprimac treba da izvrši po zakonu;

mogu pripisati FATCA odbitku koji se zahteva od Strane;

kompenzovani u skladu sa

Klauzulom 12.3

(Poreska refundacija) (ili bi bili kompenzovani u skladu sa

Klauzulom 12.3

(Poreska refundacija) ali nisu kompenzovani samo zbog primene izuzeća navedenih u stavu (b)

Klauzule 12.3

(Poreska refundacija); ili

mogu pripisati namernom kršenju bilo kog zakona ili propisa od strane relevantne Strane kreditnog aranžmana ili njene Filijale.

14.Čl. 14.1–14.4

DRUGA OBEŠTEĆENJA

Odredba14.1

Obeštećenje za kursne razlike

Ukoliko iznos koji Zajmoprimac duguje po osnovu Dokumenata o finansiranju (u daljem tekstu: „Iznos”), ili naloga, presude ili odluke datih ili donetih u vezi sa Iznosom, mora da se konvertuje iz valute (u daljem tekstu: „Prva valuta”) u kojoj je taj Iznos plativ u drugu valutu (u daljem tekstu: „Druga valuta”) za svrhu:

(i)

sastavljanja ili podnošenja tužbe ili dokaza protiv Zajmoprimca; ili

(ii)

dobijanja ili sprovođenja naloga, presude ili odluke u vezi sa parničnim ili arbitražnim postupkom,

Zajmoprimac će kao nezavisnu obavezu, u roku od tri (3) Radna dana od zahteva, refundirati svakoj Strani kreditnog aranžmana kojoj duguje taj Iznos za trošak, gubitak ili obavezu koja nastaje iz ili kao posledica konverzije uključujući odstupanja između (A) kursne stope koja se koristi za konvertovanje tog Iznosa iz Prve valute u Drugu valutu i (B) kursne stope ili stopa koje su raspoložive tom licu u vreme prijema tog Iznosa.

Zajmoprimac se odriče prava koje ima u jurisdikciji da plati iznos po Dokumentima o finansiranju u valuti ili valutnoj jedinici osim u onoj u kojoj je izraženo za plaćanje.

Odredba14.2

Druga obeštećenja

Zajmoprimac će, u roku od deset (10) Radnih dana od zahteva, refundirati svakoj Strani kreditnog aranžmana i Izvoznoj kreditnoj agenciji UK sve troškove, gubitke ili obaveze koji nastaju za tu Stranu kreditnog aranžmana i Izvoznu kreditnu agenciju UK kao rezultat:

nastanka Slučaja neispunjenja obaveze;

neplaćanja iznosa od strane Zajmoprimca koji duguje po Dokumentu o finansiranju na datum dospeća, uključujući bez ograničenja, troškove, gubitke ili obaveze koji nastaju kao posledica

Klauzule 25

(Preraspodela među Stranama kreditnog aranžmana);

finansiranja, ili sklapanja aranžmana za finansiranje, njenog učešća u Kreditu koje zahteva Zajmoprimac u Zahtevu za korišćenje sredstava ali koje nije izvršeno zbog dejstva jedne ili više odredaba ovog ugovora (osim iz razloga neispunjenja obaveze ili nemara tog samog Zajmodavca); i/ili

nevršenja prevremene otplate Kredita (ili njegovog dela) u skladu sa obaveštenjem o prevremenoj otplati dostavljenim od Zajmoprimca.

Odredba14.3

Naknada troškova Agentu

Zajmodavac će odmah refundirati Agentu troškove, gubitke ili obaveze koji nastanu za Agenta (koji razumno postupa) kao posledica:

(i)

istraživanja bilo kog slučaja za koji razumno veruje da predstavlja Slučaj neispunjenje obaveza;

(ii)

postupanja ili oslanjanja na bilo koje obaveštenje, zahtev ili instrukciju za koju razumno veruje da je istinita, tačna i primereno ovlašćena; ili

(iii)

davanja instrukcija advokatima, računovođama, poreskim savetnicima, veštacima ili drugim stručnjacima, u skladu sa ovim Ugovorom.

Zajmodavac će odmah obeštetiti Agenta za troškove, gubitke ili obaveze koji nastanu za Agenta (usled razloga koji nisu grubi nemar ili nepropisno postupanje Agenta) po Dokumentima o finansiranju.

Odredba14.4

Naknada Izvoznoj kreditnoj agenciji UK

Zajmodavac će odmah nadoknaditi Izvoznoj kreditnoj agenciji UK troškove, gubitke ili obaveze koji nastanu za nju u vezi sa ovim Ugovorom kao rezultat:

istraživanja bilo kog slučaja za koji razumno veruje da predstavlja Nepoštovanje obaveza;

postupanja ili oslanjanja na bilo koje obaveštenje, zahtev ili instrukciju za koju razumno veruje da je istinita, tačna i primereno ovlašćena; ili

davanja instrukcija advokatima, računovođama, poreskim savetnicima, veštacima ili drugim stručnjacima ili ekspertima.

15.Čl. 15.1–15.2

UBLAŽAVANJE OD STRANE ZAJMODAVACA

Odredba15.1

Ublažavanje

Svaka Strana kreditnog aranžmana će, uz konsultacije sa Zajmoprimcem, preduzeti sve razumne korake za ublažavanje okolnosti koje nastanu ili koje bi rezultirale time da neki iznos postane plativ po ili u skladu sa, ili otkazan u skladu sa

Klauzulom 8.1

(Nezakonitost),

Klauzulom 12

(Bruto porezi i refundacija) ili

Klauzulom 13.1

(Povećani troškovi) uključujući (bez ograničenja) prenošenje njenih prava i obaveza po Dokumentima o finansiranju na drugu Filijalu ili Kancelariju aranžmana.

Gore navedeni stav (a) ni na koji način ne ograničava obaveze Zajmoprimca prema Dokumentima o finansiranju.

Odredba15.2

Ograničenje odgovornosti

Zajmoprimac će odmah refundirati svakoj Strani kreditnog aranžmana sve troškove i izdatke koji razumno nastanu za tu Stranu kreditnog aranžmana kao posledica koraka koje je preduzela u skladu sa

Klauzulom 15.1

(Ublažavanje).

Strana kreditnog aranžmana nije u obavezi da preduzme bilo koje korake definisane u

Klauzuli 15.1

(Ublažavanje) ukoliko će, po mišljenju te Strane (delujući razborito), usled toga imati štetu ili negativne posledice po prava Strane kreditnog aranžmana prema UKEF Garanciji.

16.Čl. 16.1–16.4

TROŠKOVI I IZDACI

Odredba16.1

Izdaci po osnovu transakcije

Zajmoprimac će odmah po zahtevu platiti Agentu i Aranžerima iznos svih troškova i izdataka (uključujući ali ne ograničavajući se na pravne troškove, putne troškove, kao i troškove nepovratnog poreza na dodatu vrednost ili sličnih poreza na te troškove i izdatke) koji nastaju za bilo koji od njih u vezi sa pregovorima, pripremom, štampanjem, potpisivanjem i objavljivanjem:

finansijskih dokumenata i svih drugih dokumenata koji se odnose na Dokumente o finansiranju; i

svih drugih Dokumenata o finansiranju potpisanih nakon datuma ovog ugovora.

Odredba16.2

Troškovi izmene

Ukoliko:

Zajmoprimac zahteva izmenu, odricanje ili saglasnost koji se odnose na Finansijski dokument;

izmena je neophodna u skladu sa

Klauzulom 26.11

(Promena valute); ili

se svaka izmena ili odustajanje razmatra ili dogovara u skladu sa

klauzulom 32.4

(Zamena Kotirane stope),

Zajmoprimac će, u roku od tri (3) Radna dana od dana zahteva:

nadoknaditi Agentu iznos svih troškova i izdataka (uključujući pravne troškove) koji za Agenta proističu iz procene, pregovaranja ili postupanja u skladu s tim zahtevom ili uslovom, odnosno njegovog sprovođenja; i

ii)

platiti Agentu (za račun Izvozne kreditne agencije UK) iznos jednak svim troškovima i izdacima (uključujući pravne troškove) koje je imala Izvozna kreditna agencija UK a vezane za procenu, pregovore ili postupanja u skladu s tim zahtevom, uslovom ili stvarnim ili predviđenim ugovorom.

Odredba16.3

Troškovi izvršenja

Zajmoprimac će u roku od tri (3) Radna dana od dana zahteva platiti Agentu iznos svih troškova i izdataka (uključujući pravne troškove) koje je snosio Agent, bilo koji Zajmodavac ili Izvozna kreditna agencija UK (za račun Agenta, relevantnog Zajmodavca ili Izvozne kreditne agencije UK), u vezi sa sprovođenjem ili očuvanjem prava po osnovu bilo kog Dokumenta o finansiranju.

Odredba16.4

Tekući troškovi Agenta

Ako:

nastupi Neispunjenje obaveza;

Agent razumno smatra za neophodno ili uputno; ili

su Zajmoprimac ili Većinski zajmodavci tražili od Agenta da preduzme zadatke za koje su se Agent i Zajmoprimac saglasili da su posebne prirode i van opsega normalnih zadataka Agenta,

Zajmoprimac je u obavezi da Agentu plati dodatnu naknadu oko kojeg će se ove dve strane dogovoriti ili ukoliko Zajmoprimac ne uspe da se dogovori oko određene sume, onako kako utvrdi Agent (postupajući razumno i u dobroj nameri).

ODELjAK 7

IZJAVE, OBAVEZE I NEISPUNJENJE OBAVEZA

17.Čl. 17.1–17.30

IZJAVE

Zajmoprimac daje izjave i garancije navedene u ovoj

Klauzuli 17

svakoj Strani kreditnog aranžmana na datum ovog ugovora i na Datum stupanja na snagu.

Odredba17.1

Status

Zajmoprimac i Kupac imaju ovlašćenje da poseduju svoju imovinu i da obavljaju svoje poslovanje i aktivnosti dok se one sprovode, kao i da obavežu Republiku Srbiju.

Odredba17.2

Obavezujuće odredbe

Obaveze za koje je navedeno da će ih preuzeti Zajmoprimac i Kupac u svakom Dokumentu o transakciji su zakonite, validne, obavezujuće i izvršne obaveze (podležu samo, u slučaju Zajmoprimca, u smislu nastanka zaduženja i preuzimanja obaveza plaćanja od strane Zajmoprimca po ovom Ugovoru, objavljivanju Službenog glasnika Republike Srbije u kome je objavljen zakon o potvrđivanju ovog ugovora od strane Narodne skupštine Republike Srbije).

Odredba17.3

Nesukobljavanje sa drugim obavezama

Sklapanje i izvršenje od strane Zajmoprimca i Kupca Dokumenata o transakciji, kao i transakcije koje su predviđene u njima, nisu i neće biti u sukobu sa:

bilo kojim Važećim zakonom;

ustavom Relevantne jurisdikcije ili ustavnim dokumentima bilo koje od njih i njihovih državnih institucija; ili

bilo kojim ugovorom, hipotekom, obveznicom, odlukom, arbitražnom odlukom ili drugim instrumentom međunarodnog sporazuma ili ugovora, uključujući i one sa MMF-om ili bilo kojom drugom međunarodnom institucijom, čiji su on ili njegove vladine agencije strana ili koji je obavezujući za njih ili bilo koju njihovu imovinu ili predstavlja događaj neizvršenja ili prestanka (kako god da je opisan) prema bilo kom takvom sporazumu ili instrumentu.

Odredba17.4

Ovlašćenja i nadležnosti

I Zajmoprimac i Kupac imaju puno pravo da stupaju, sprovode i izvršavaju i preduzeli su sve neophodne radnje za dobijanje ovlašćenja za sklapanje i sprovođenje i realizaciju relevantnih Dokumenata o transakciji u kojima su strana kao i transakcija sadržanih u tim Finansijskim dokumentima (podložno samo, u slučaju Zajmoprimca, u smislu nastanka zaduženja i preuzimanja obaveza od strane Zajmoprimca po ovom Ugovoru, objavljivanju Službenog glasnika Republike Srbije u kome je objavljen zakon o potvrđivanju ovog ugovora od strane Narodne skupštine Republike Srbije).

Ograničenja ovlašćenja Zajmoprimca neće se prekoračivati, kao rezultat zaduživanja niti davanja garancije ili odštete definisane u Finansijskim dokumentima u kojima je strana (uključujući, radi izbegavanja sumnje, ograničenje javnog duga utvrđeno u relevantnom godišnjem zakonu o budžetu Republike Srbije).

Sva odobrenja i akta koja se traže ili su poželjna u vezi zaključivanja, izvršenja, zakonitosti, validnosti i izvršnosti relevantnih Dokumenata o transakciji i u njima sadržanim transakcijama su dobijena ili izvršena (u zavisnosti od slučaja) i u potpunosti su na snazi i važeća.

Ima pravo da tuži i bude tužen pred sudom i/ili arbitražnim većem nadležnim u skladu sa Finansijskim dokumentima.

Odredba17.5

Validnost i prihvatljivost dokaza

Sva Ovlašćenja i svi drugi akti, uslovi i stvari potrebne i poželjne:

kako bi se omogućilo i Zajmoprimcu i Kupcu da zakonito stupi, ostvaruje svoja prava i postupa u skladu sa obavezama iz Finansijskih dokumenata u kojima je strana;

kako bi se omogućilo da su obaveze za koje se u Dokumentima o transakciji navodi da će biti preuzete od strane Zajmoprimca i Kupca pravosnažne, obavezujuće i sprovodive; i

kako bi se obezbedilo da su Dokumenta o transakcijama u kojima su Zajmoprimac i Kupac strane, prihvatljive kao dokaz u Relevantnoj jurisdikciji (pod uslovom da je taj Dokument o transakciji preveden na srpski jezik),

su dobijena i realizovana pravosnažno i važeće su (osim, u slučaju Zajmoprimca, u smislu nastanka zaduženja i preuzimanja obaveza od strane Zajmoprimca po ovom Ugovoru, objavljivanju Službenog glasnika Republike Srbije u kome je objavljen zakon o potvrđivanju ovog ugovora od strane Narodne skupštine Republike Srbije).

Odredba17.6

Merodavno pravo i izvršenje

Izbor prava navedenog kao merodavno pravo za svaki Finansijski dokument i sve vanugovorne obaveze koje iz njega proističu i koje su sa njim povezane, biće priznate i sprovedene u Relevantnoj jurisdikciji.

Svaka presuda vezana za Finansijski dokument dobijena u Engleskoj biće priznata i sprovedena u Relevantnoj jurisdikciji.

Sporazum o ne pozivanju na imunitet po pitanju Finansijskih dokumenata na koje bi Zajmoprimac ili njegova imovina imali pravo biće priznat i sproveden u Relevantnoj jurisdikciji.

Predaja predmeta na arbitražu, kao što je navedeno u Finansijskim dokumentima, biće priznata i sprovedena u Relevantnoj jurisdikciji.

Odredba17.7

Odbitak poreza

Osim za poreze po odbitku na kamate plaćene nerezidentima u jurisdikciji Zajmoprimca, nije neophodno vršiti Odbitke poreza za bilo koje plaćanje koje se vrši na osnovu Finansijskih dokumenata, a postoji obaveza plaćanja dodatnih iznosa plativih u skladu sa

Klauzulom 12

(Bruto porezi i refundiranje).

Odredba17.8

Nema administrativnih taksi

Po zakonu Relevantne jurisdikcije nije neophodno da se Finansijska dokumenta podnose, evidentiraju ili zavode kod suda ili drugog organa u datoj jurisdikciji niti je potrebno plaćanje taksenih marki, taksa vezanih za registraciju, usluga notara ili sličnih poreza i naknada na ili u vezi sa Finansijskim dokumentima ili transakcijama iz Dokumentima o finansiranju, osim što je Zajmoprimac obavezan da:

izveštava NBS o:

(i)

ovom Ugovoru i svakoj njegovoj izmeni;

(ii)

svakoj promeni Zajmodavaca; i

(iii)

svakom Korišćenju sredstava i svakoj otplati ili prevremenoj otplati prema ovom Ugovoru,

evidentira relevantne informacije koje se odnose na ovaj ugovor u evidenciji javnog duga pri Upravi za javni dug u Ministarstvu finansija Republike Srbije.

Odredba17.9

Bez neispunjenja obaveza

Nijedan slučaj neispunjenja obaveza ne traje niti bi se razumno moglo očekivati da će rezultirati iz Korišćenja sredstava ili stupanja u i sprovođenja Finansijskih dokumenata ili transakcije sadržane u istom.

Nijedan drugi slučaj ili okolnost nisu nastupili koji čine (ili bi, isticanjem grejs perioda, davanjem obaveštenja, donošenjem odluke ili kombinacijom prethodno pomenutog, činili) slučaj neispunjenja obaveze (u zavisnosti kako je opisan) po bilo kom sporazumu ili drugom ugovoru ili instrumentu koji je za njega obavezujući ili kojima podleže njegova imovina a koji ima ili je razumno verovatno da će imati Materijalno negativan efekat.

Odredba17.10

Bez obmanjujućih informacija

Sve činjenične informacije koje se dostave Strani kreditnog aranžmana (uključujući od strane njegovih savetnika) su istinite, potpune i tačne u svim materijalnim aspektima na datum kada su dostavljene ili navedene i nisu obmanjujuće ni po kom materijalnom osnovu.

Ništa se nije desilo niti je izostavljeno i nikakve informacije nisu date niti uskraćene koje bi rezultirale informacijama pruženim od strane ili za račun Zajmoprimca ili bilo koje državne institucije (uključujući od strane njegovih savetnika) koje bi bile netačne ili obmanjujuće ni po kom materijalnom osnovu.

Odredba17.11

Finansijska pozicija

Nije došlo do materijalno negativnih promena ekonomske situacije Zajmoprimca ili Kupca od datuma ovog ugovora.

Svi budžeti i prognoze dostavljeni u skladu sa ovim Ugovorom su izrađeni nakon pažljivog razmatranja i pripremljeni su u dobroj veri na osnovu skorašnjih istorijskih informacija i na osnovu pretpostavki koje su bile razumne na dan kada su pripremljeni i dostavljeni.

Odredba17.12

Rangiranje po principu pari passu

Obaveze plaćanja po osnovu Finansijskih dokumenata rangiraju se minimum pari passu sa potraživanjima svih drugih neobezbeđenih i nesubordiniranih poverilaca u smislu Eksterne finansijske zaduženosti, osim onih obaveza koje su definisane kao obavezujuće odredbama zakona na datum ovog ugovora i, u slučaju Zajmoprimca, biće plative iz javnih prihoda ili druge imovine Zajmoprimca.

Odredba17.13

Bez postupaka koji su u toku ili slede

Nijedan parnični, arbitražni ili istražni postupak pred bilo kojim sudom, arbitražnim telom ili agencijom, za koji se, u slučaju negativne presude, moglo opravdano očekivati da će imati Materijalne negativne efekte nije pokrenut protiv njega i njegovih državnih organa, niti postoji pretnja od pokretanja (po najboljem saznanju i uverenju).

Nijedna odluka ili nalog suda, arbitražnog suda ili nijedan nalog ili sankcija bilo kog državnog ili drugog regulatornog tela za koji bi se razumno moglo očekivati da ima Materijalno negativan efekat (po najboljem saznanju i uverenju (nakon obavljene detaljne i pažljive analize)) nije donesena protiv Zajmoprimca niti njegovih državnih organa ili Kupca.

Odredba17.14

Nema kršenja zakona

Nije prekršen ni jedan zakon ili propis čije kršenje ima ili se razumno može očekivati da ima Materijalno negativan efekat.

Odredba17.15

Zakoni i standardi u oblasti životne sredine

Nisu se desili niti se nastavljaju događaji koji predstavljaju okidač u oblasti životne sredine i socijalnih pitanja.

Koliko mu je poznato (nakon što je sproveo sve primerene analize), nije propustio da Izvoznoj kreditnoj agenciji UK dostavi informacije koje poseduje a koje se odnose na Životnu sredinu, koje bi, da ih je dostavio, za rezultat dale suštinski netačan ili nekompletan izveštaj, analizu, ili procenu u oblasti životne sredine i socijalnih pitanja i sve informacije pružene Izvoznoj kreditnoj agenciji UK su, prema saznanjima koje poseduju (nakon što je sproveo sve primerene analize), tačne i ažurne.

Nisu pokrenute niti traju tužbe koje se odnose na životnu sredinu i socijalna pitanja, i obavivši sve primerene analize, nije mu poznato da se sprema bilo koja tužba koja bi se odnosila na životnu sredinu i socijalna pitanja, uz izuzetak u oba slučaja onih koje su neosnovane ili zlonamerne i za koju se opravdano veruje da će biti odbačene, obustavljene ili odbijene u roku od šezdeset (60) dana od dana pokretanja.

Nema istraga koje se odnose na životnu sredinu i socijalna pitanja koje se sprovode ili se očekuju.

Odredba17.16

Zakon o sprečavanju korupcije

I Zajmoprimac i Kupac poštuju važeći Zakon o sprečavanju korupcije i uspostavili su i održavaju, od datuma ovog ugovora i Datuma stupanja na snagu, politike i procedure koncipirane tako da promovišu i omoguće poštovanje takvih zakona.

Ni:

(i)

Zajmoprimac ni Kupac (niti, prema njihovom najboljem znanju i uverenju (nakon što su napravili pažljivo ispitivanje), nijedan agent, direktor, zaposleni niti službenik Zajmoprimca ili Kupca), niti

(ii)

(u bilo kom svojstvu u vezi sa finansiranjem Projekta ili u vezi sa Ugovorom o izvozu) niti bilo koji državni organ Zajmoprimca (niti, prema najboljem znanju i uverenju (nakon što je obavljena primerena i pažljiva analiza), nijedan agent, direktor, zaposleni niti službenik bilo kog državnog organa Zajmoprimca),

nije dao ili primio ili naložio bilo kom licu ili odobrio da se da ili primi ponuda, plaćanje ili obećanje davanja novca, poklona ili drugih vrednosti, direktno ili indirektno, kada to krši ili bi kršilo bilo koji Zakon o sprečavanju korupcije ili stvara ili bi stvorilo obavezu za to lice ili druge prema bilo kom Zakonu o sprečavanju korupcije.

Ni:

(i)

Zajmoprimac ni Kupac (niti, prema njihovom najboljem znanju i uverenju (nakon što su napravili pažljivo ispitivanje), nijedan agent, direktor, zaposleni niti službenik Zajmoprimca ili Kupca), niti

(ii)

nije pod istragom bilo koje institucije niti strane u bilo kom postupku, a u vezi sa Zakonima o sprečavanju korupcije.

Odredba17.17

Zakoni i propisi o sankcijama

Izuzev u slučaju da je objavljeno pisanim putem Izvoznoj kreditnoj agenciji UK i Agentu pre datuma ovog ugovora (u formi i sadržini koji su odgovarajući za Izvoznu kreditnu agenciju UK i Agenta), niko od Zajmoprimca ili Kupca, niti, prema njihovom najboljem saznanju i uverenju (nakon opsežnog i pažljivog ispitivanja), iko od ministara, direktora, rukovodilaca, zaposlenih ili agenata Zajmoprimca ili Kupca koji imaju bilo koja ovlašćenja u vezi sa kreditnim aranžmanom utvrđenim u ovom Ugovoru, nije Sankcionisano lice.

Nijedno Korišćenje sredstava, upotreba sredstava niti druge transakcije iz ovog ugovora ne krše važeće Zakone i propise o sankcijama.

Obaveze iz gore navedenih tačaka 17.17 (a) i 17.17 (b) neće se primenjivati ni na jednu ugovornu stranu na koju se (i) primenjuje Uredba Saveta (EC) 2271/96 (ili bilo koji zakon ili uredba o primeni takve uredbe u bilo kojoj članici država Evropske unije) ili (ii) primenjuje bilo koji sličan zakon ili propis u Ujedinjenom Kraljevstvu (u daljem tekstu: „Zakon o blokiranju”), ako i u meri u kojoj takve obaveze jesu ili bi mogle biti neizvršive od strane te stranke ili u vezi sa njom u skladu sa zakonom o blokiranju, ili bi na drugi način rezultirali kršenjem bilo koje odredbe Zakona o blokiranju.

Odredba17.18

Eksterna finansijska zaduženost

Nijedno Eksterno finansijsko zaduženje nije obezbeđeno bilo kojom garancijom ili Kvazi-garancijom na ili u vezi sa Javnom imovinom osim onako kako je dozvoljeno ovim Ugovorom.

Odredba17.19

Valjano pravo nad imovinom

Zajmoprimac i Kupac imaju valjano i utrživo pravo nad ili valjan zakup ili dozvolu svih nadležnih Vlasti da koristi imovinu neophodnu za realizaciju Projekta.

Odredba17.20

Bez imuniteta

U bilo kom postupku unutar Relevantne jurisdikcije u vezi sa Finansijskim dokumentima, Zajmoprimac neće imati pravo da zahteva imunitet za sebe ili svoju imovinu od tužbe ili drugog pravnog procesa, osim imuniteta od izvršenja po pitanju sadašnjih ili budućih:

„prostorija diplomatskog predstavništva” kako je definisano Bečkom konvencijom o diplomatskim odnosima iz 1961. godine;

„konzularnih prostorija” kako je definisano Bečkom konvencijom o konzularnim odnosima iz 1963. godine;

imovine kojom se ne može trgovati;

vojne imovine ili vojnih sredstava, ili objekata, oružja i opreme namenjene odbrani, državnoj i javnoj bezbednosti;

potraživanja čiji prenos je ograničen zakonom;

prirodnih resursa, predmeta za opštu upotrebu, mreža u javnom vlasništvu, rečnih basena i vodnih objekata u javnom vlasništvu, zaštićene prirodne baštine u javnom vlasništvu, kao i kulturne baštine u javnom vlasništvu;

nepokretnosti u javnom vlasništvu, koje, potpuno ili delimično, koriste vlasti Republike Srbije, autonomnih pokrajina ili lokalnih samouprava za potrebe ostvarivanja prava i obaveza;

akcija i deonica države, autonomne pokrajine ili lokalne samouprave i akcija u kompanijama i javnim preduzećima, osim ako nadležna institucija ne pristane na uspostavljanje zaloge na tim akcijama i deonicama; ili

pokretne i nepokretne imovine zdravstvenih institucija, osim ako hipoteka nije uspostavljena na osnovu odluke Vlade;

imovina u gore navedenim stavovima (a) – (i) (uključujući) definisana je

kao „Izuzeta imovina”.

Odredba17.21

Privatne i komercijalne radnje

Svako potpisivanje Dokumenata o transakciji od strane Zajmoprimca i Kupca u kome su strana i korišćenje prava i ispunjavanje obaveza po tim Dokumentima o transakciji će predstavljati privatne i komercijalne akte, sačinjene i izvršene u privatne i komercijalne svrhe.

Odredba17.22

MMF

Članica je koja ispunjava sve uslove i kvalifikovana da koristi resurse MMF-a i IBRD-a i može povlačiti sredstva koja su na raspolaganju u okviru programa finansiranja MMF-a ili IBRD-a, pri čemu ti programi nisu poništeni niti suspendovani.

Odredba17.23

Devizne kontrole

U skladu sa zakonima Relevantne jurisdikcije, sva plaćanja koja se realizuju prema Finansijskim dokumentima mogu se slobodno preneti van Relevantne jurisdikcije i mogu se platiti ili slobodno konvertovati u Valutu kreditnog aranžmana.

Zajmoprimac je pribavio sva odobrenja koja se odnose na valutne kontrole ili druga takva odobrenja koja su potrebna kako bi se osigurala raspoloživost Valute kreditnog aranžmana i Zajmoprimcu omogućilo da ispuni sve svoje obaveze prema Finansijskom dokumentu u kome je strana.

Trenutno nema važećih ograničenja niti zahteva koji ograničavaju raspoloživost ili transfer deviznog kursa koji bi ograničili sposobnost Zajmoprimca da ispuni svoje obaveze prema Finansijskom dokumentu.

Odredba17.24

Pravila o javnim nabavkama

Ispoštovana su sva pravila koja se odnose na javne nabavke unutar Relevantne jurisdikcije koja su primenjiva na ostvarivanje prava i izvršavanje obaveza Zajmoprimca i Kupca prema Dokumentima o transakciji čije su strane.

Odredba17.25

Budžet i limiti

Sredstva neophodna za isplatu svih obaveza Zajmoprimca prema Finansijskim Dokumentima obezbeđena su Zakonom o budžetu Republike Srbije za tu godinu (za 2025. godinu je to Zakonom o budžetu Republike Srbije za 2025. godinu, Službeni glasnik Republike Srbije, br. 94/2024).

Zaduženja i garancije su u okvirima (ako postoje) koje su definisali MMF, Svetska banka i relevantni međunarodni sporazumi.

Odredba17.26

Rezerve

Republika Srbija i Narodna banka Srbije imaju puno vlasništvo nad, ovlašćenje, kontrolu i nadležnost da koriste Rezerve. Zajmoprimac ima na raspolaganju deo raspoloživog dela Rezervi za potrebe ispunjenja i izmirenja obaveza po osnovu Finansijskih dokumenata i nije potrebno odobrenje niti bilo kakva dozvola od strane bilo kog lica ili Državnog organa ili drugih institucija za korišćenje tog dela rezervi. Republika Srbija je krajnji korisnik Rezervi. NBS je centralna banka i monetarna vlast Republike Srbije koja je ovlašćena da drži i upravlja Rezervama, uključujući i deo Rezervi koji je Zajmoprimcu u potpunosti na raspolaganju, na način koji doprinosi odgovarajućem izmirenju obaveza Republike Srbije po osnovu spoljnog duga, a koje obuhvataju i obaveze po osnovu Finansijskih dokumenata.

Odredba17.27

Bez dodatnog finansiranja putem izvoznih kredita

Osim u svrhu zamene ili refinansiranja bilo koje Finansijske zaduženosti kao dodatnog i/ili preostalog po osnovu Finansijskih dokumenata u celini (a ne delimično), za Zajmoprimca nije nastala bilo koja druga dodatna Finansijska zaduženost pružena od ili u ime (ili garantovana ili osigurana od ili u ime) bilo koje druge izvozno kreditne agencije u vezi sa Projektom, ili bilo koji drugi iznos koji Kupac plaća ili će plaćati po Ugovoru o izvozu ili u vezi sa njim, osim Finansijske zaduženosti (a) u odnosu na Ugovor o izvozu garantovan od strane Multilaterale Agencije za garantovanje investicija ili (b) na drugi način potvrđeno u skladu sa

Klauzulom 19.14

(Saglasnost za dodatno finansijsko zaduženje u pogledu daljeg finansiranja izvoznih kredita).

Odredba17.28

Dozvole

Nije neophodno prema zakonima Relevantne jurisdikcije:

(i)

kako bi se omogućilo bilo kojoj Strani kreditnog aranžmana da sprovede svoja prava prema bilo kom Finansijskom dokumentu; ili

(ii)

zbog potpisivanja bilo kog Finansijskog dokumenta ili izvršenja obaveza prema bilo kom Finansijskom dokumentu,

da bilo koja Strana kreditnog aranžmana ili Izvozna kreditna agencija UK treba da bude licencirana, kvalifikovana ili na drugi način ovlašćena da obavlja poslovanje u bilo kojoj od svojih Relevantnih jurisdikcija.

Nijedna Strana kreditnog aranžmana se neće smatrati rezidentnom, niti da ima prebivalište ili da posluje u svojim Relevantnim jurisdikcijama samo na osnovu potpisivanja, izvršenja i/ili sprovođenja bilo kog Finansijskog dokumenta.

Odredba17.29

Moratorijum

Nije proglašen niti je de facto stupio na snagu moratorijum na otplatu bilo kog od njegove Eksterne finansijske zaduženosti i nije započeo pregovore sa jednim ili više svojih kreditora Eksterne finansijske zaduženosti u cilju opšteg restrukturiranja ili reprogramiranja svoje zaduženosti.

Odredba17.30

Ponavljanje

Smatraće se da su tvrdnje koje se ponavljaju koje su date od strane Zajmoprimca date pozivanjem na činjenice i okolnosti koje su postojale na datum svakog Zahteva za korišćenje sredstava i svakog Datuma plaćanja kamate.

18.Čl. 18.1–18.6

OBAVEZE INFORMISANJA

Informisanje u ovoj

Klauzuli 18

ostaje na snazi od datuma ovog ugovora dokle god je bilo koji iznos neisplaćen po osnovu Finansijskih dokumenata ili dokle god važi bilo koja Obaveza.

Odredba18.1

Finansijska dokumenta

Zajmoprimac će Agentu dostaviti u formi zadovoljavajućoj za Agenta (i u dovoljnom broju primeraka za sve Zajmodavce) Zakon o budžetu Republike Srbije za datu kalendarsku godinu čim on postane dostupan, ali u svakom slučaju u roku od sto osamdeset (180) dana od kraja finansijske godine.

Odredba18.2

Razne informacije

Zajmoprimac će Agentu dostaviti (u dovoljnom broju primeraka za sve Zajmodavce i Izvoznu kreditnu agenciju UK, ako Agent tako zahteva):

sva dokumenta koje je Zajmoprimac prosledio poveriocima spoljne finansijske zaduženosti istovremeno kada su oni prosleđeni;

odmah nakon što sazna, detalje svih sporova, arbitraža ili administrativnih postupaka koji su u toku, spremaju se ili su nerešeni protiv Zajmoprimca i koji bi, ukoliko se donese negativna odluka, mogli imati Materijalno negativan efekat;

odmah druge takve finansijske, statističke i opšte informacije vezane za finansijsko stanje, imovinu, funkcije i rad Zajmoprimca, koje Agent može razumno tražiti, uključujući i tražene dopune ili pojašnjenja ili projekcije ili tražene dopune ili objašnjenja drugog materijala koje je Zajmoprimac dostavio u skladu sa ovim Ugovorom;

odmah primerak izmena:

(i)

konstitutivnih dokumenata Zajmoprimca koji utiču na njegov status; i

(ii)

Zakona o javnom dugu (Službeni glasnik Republike Srbije br. 61/2005, 107/2009, 78/2011, 68/2015, 95/2018, 91/2019 i 149/2020), Zakona o budžetskom sistemu (Službeni glasnik Republike Srbije br. 54/2009, 73/2010, 101/2010, 101/2011, 93/2012, 62/2013, 63/2013, 108/2013, 142/2014, 68/2015, 103/2015, 99/2016, 113/2017, 5/2018, 31/2019, 72/2019, 149/2020 i 94/2024) i Zakona o Moravskom koridoru.

Odredba18.3

Obaveštenje o neispunjenju obaveza

Zajmoprimac će obavestiti Agenta o svakom Neispunjenju obaveza (i koracima koji se preduzimaju za otklanjanje, ukoliko ih ima) odmah nakon što sazna o neispunjenju.

Odmah nakon zahteva Agenta, Zajmoprimac će Agentu dostaviti potvrdu potpisanu od strane potpisnika Zajmoprimca kojom se potvrđuje da se Neispunjenje obaveza ne nastavlja (ili ukoliko se Neispunjenje obaveza nastavlja, navešće slučaj Neispunjenja obaveza i korake koji se preduzimaju za otklanjanje istog, ukoliko ih ima).

Odredba18.4

Direktna elektronska dostava od strane Zajmoprimca

Zajmoprimac može ispuniti svoju obavezu iz ovog ugovora da dostavi bilo koju informaciju u vezi sa Zajmodavcem tako što će tu informaciju direktno dostaviti tom Zajmodavcu u skladu sa

Članom 28.5

(Elektronska komunikacija), ukoliko se Zajmodavac i Agent saglase sa ovim načinom dostave.

Odredba18.5

Provere “Upoznaj svog Klijenta”

Ako:

(i)

uvođenje novog zakona ili propisa, ili neka promena u postojećem zakonu ili propisu (ili tumačenju, primeni ili sprovođenju tog zakona ili propisa) do kojeg dođe nakon datuma ovog ugovora;

(ii)

promena internih procedura i postupaka Izvozne kreditne agencije UK u pogledu poštovanja propisa o finansijskim prestupima;

(iii)

promene statusa Zajmoprimca nakon datuma ovog ugovora; ili

(iv)

predloženo ustupanje ili prenos koje vrši neki Zajmodavac u pogledu svojih prava i obveza prema ovom Ugovoru strani koja nije Zajmodavac pre takvog ustupanja ili prenosa,

obavezuje Agenta ili Izvoznu kreditnu agenciju UK ili bilo kog Zajmodavca (ili, u slučaju iz gore navedenog stava (iv), bilo kog potencijalnog novog Zajmodavca) na postupanje u skladu s identifikacijskim postupkom „upoznaj svog Klijenta” ili sličnim postupkom u okolnostima u kojima mu potrebne informacije već nisu dostupne. Svaki Dužnik će odmah po zahtevu Agenta ili Izvozne kreditne agencije UK ili bilo kog Zajmodavca dostaviti ili osigurati dostavljanje one dokumentacije i drugih dokaza koje Agent može opravdano zahtevati (za sebe ili za bilo kog Zajmodavca ili za Izvoznu kreditnu agenciju UK) ili Izvozna kreditna agencija UK ili bilo koji Zajmodavac (za sebe ili, u slučaju opisanom u gore navedenom stavu (iv), u ime novog potencijalnog Zajmodavca ili Izvozne kreditne agencije UK) kako bi Agent ili Izvozna kreditna agencija UK, taj postojeći Zajmodavac ili u slučaju opisanom u stavu (iv), novi potencijalni Zajmodavac postupili u skladu sa svim proverama „upoznaj svog Klijenta” ili sličnim proverama prema svim važećim zakonima ili propisima i/ili u skladu sa zahtevima internih postupaka i procedura Izvozne kreditne agencije UK u skladu sa transakcijama koje su predviđene u Dokumentima o finansiranju.

Svaki Zajmodavac će odmah po prijemu zahteva Agenta dostaviti ili osigurati dostavljanje one dokumentacije i drugih dokaza koje Agent može opravdano zatražiti kako bi Agent sproveo i na zadovoljavajući način postupio u skladu sa svim proverama „upoznaj svog Klijenta” ili sličnim proverama prema svim važećim zakonima ili propisima koje proizlaze iz transakcija koje su predviđene Dokumentima o finansiranju.

Zajmoprimac će (ne češće od jednom u svakoj fiskalnoj godini, osim ako Agent s razlogom ne sumnja da se Neispunjenje obaveza nastavlja ili bi moglo do njega da dođe) dozvoliti Agentu i/ili računovođama ili drugim stručnim savetnicima i izvođačima Agenta da bez novčane nadoknade pristupe u razumno vreme i uz davanje prethodne razumne najave o tome uz rizik i troškove po Zajmoprimca svim prostorijama relevantnih javnih službi kao i sastanak sa potrebnim javnim službenicima kako bi razgovarali i pratili implementaciju i upravljanje Dokumentima o finansiranju, Ugovorom o izvozu i učinak strana, uključujući obezbeđivanje svih neophodnih viza i obezbeđivanje bezbednosnih aranžmana za predstavnike Agenta.

Odredba18.6

Obaveštenja vezana za Ugovor o izvozu

Zajmoprimac će odmah obavestiti Agenta ukoliko sazna da:

je Ugovor o izvozu suštinski promenjen bez prethodne saglasnosti Agenta ili se takve izmene predlažu;

je došlo do prekida ili suspenzije u trajanju od deset (10) Radnih dana ili duže po Ugovoru o izvozu; ili

je pokrenut spor ili arbitraža ili drugi pravni postupak u vezi sa Ugovorom o izvozu.

19.Čl. 19.1–19.14

OPŠTE OBAVEZE

Obaveze iz

Klauzule 19

ostaju na snazi od datuma ovog ugovora dokle god postoji bilo koji neizmireni iznos po osnovu Dokumenata o finansiranju ili bilo koja Obaveza na snazi.

Odredba19.1

Ovlašćenja

Zajmoprimac mora (i osiguraće da, u odnosu na stav (a) ispod, Kupac):

održavati, poštovati i izvršiti sve druge radnje, ispuniti sve uslove i preduzeti sve što je potrebno ili poželjno kako bi se održala u punoj snazi i važenju i (gde je primenjivo, i u tom slučaju što pre) dobila sva Ovlašćenja potrebna u skladu sa bilo kojim važećim zakonom:

(i)

kako bi se omogućilo zakonito zaključivanje, ostvarivanje prava i izvršavanje obaveza, ili radi zakonitosti, valjanosti, izvršivosti ili prihvatljivosti kao dokaz u sudskom postupku Transakcionih dokumenata (uključujući dostavljanje overenih kopija Agentu), uključujući, samo u vezi sa Zajmoprimcem, sva potrebna Ovlašćenja, ako su potrebna, kako bi se obezbedilo da Zajmoprimac može u potpunosti raspolagati svim Rezervama radi izvršenja svojih obaveza iz Finansijskih dokumenata; i

(ii)

kako bi se obezbedilo da obaveze koje se navodno preuzimaju od strane Zajmoprimca u Finansijskim dokumentima budu zakonite, valjane, obavezujuće i izvršive.

obezbediti da svi iznosi koji dospevaju na osnovu Dokumenata o transakcijama u svakoj kalendarskoj godini budu obuhvaćeni Zakonom o budžetu Republike Srbije za datu kalendarsku godinu.

Odredba19.2

Usklađenost sa zakonima

Zajmoprimac će (i osiguraće da i Kupac) postupati po svim aspektima u skladu sa svim zakonima kojima podleže, ukoliko bi nepostupanje materijalno umanjilo Zajmoprimčevu sposobnost da izvršava svoje obaveze po osnovu Dokumenata o finansiranju.

Zajmoprimac će (i osiguraće da i Kupac) održati važećim i sprovoditi politike i procedure koncipirane tako da obezbede usklađenost Zajmoprimca, Kupca, njihovih Zavisnih lica i njihovih relevantnih direktora, službenika i agenata sa zakonima o sprečavanju korupcije.

Odredba19.3

MMF

Zajmoprimac će u svakom trenutku ispunjavati svoje obaveze koje proističu iz članstva u MMF-u i IBRD-u (ili pravnim sledbenicima MMF-a ili IBRD-a).

Odredba19.4

Negativna zaloga

U ovoj

Klauzuli 19.4

„Kvazi-obezbeđenje” označava aranžman ili transakciju opisanu u daljem tekstu u stavu (d) ispod.

Zajmoprimac neće dodeliti ili dozvoliti uspostavljanje i obezbediće da ne bude dodeljeno niti dozvoljeno uspostavljanje bilo kog Obezbeđenja nad Javnom imovinom, sadašnjom ili budućom, u cilju obezbeđivanja namirenja Spoljne finansijske zaduženosti Zajmoprimca, osim ako on ili njegove agencije (ako je primenjivo) istovremeno i prethodno ne obezbede Kredite jednakim i merljivim takvim Obezbeđenjem ili obezbede drugi aranžman (bez obzira da li sadrži Obezbeđenje) zadovoljavajuće za Agenta.

Zajmoprimac će obezbediti da niti on, niti Kupac, niti bilo koja državna institucija:

(i)

neće uspostaviti niti dozvoliti uspostavljanje bilo koje vrste Obezbeđenja ili Kvazi-obezbeđenja nad bilo kojom imovinom koja čini deo Projekta ili nad bilo kojim pravom Kupca u skladu sa Ugovorom o izvozu; ili

(ii)

ne prodaju, prenesu ili na drugi način otuđe bilo koju imovinu koja čini deo Projekta ili bilo koje pravo Kupca u skladu sa Ugovorom o izvozu.

Zajmoprimac će obezbediti da niti on niti bilo koja državna institucija:

(i)

ne prodaju, prenesu ili na drugi način otuđe bilo koju svoju imovinu pri čemu su ili mogu biti dati u zakup ili ponovo kupljeni od strane Zajmoprimca ili bilo koje druge državne institucije;

(ii)

ne preda, prenese ili na drugi način otuđi bilo koje od svojih potraživanja;

(iii)

stupi u aranžman prema kome se novac ili korist banke ili drugog računa mogu primeniti, podmiriti ili podvrgnuti kombinaciji računa; ili

(iv)

stupi u bilo koji drugi povlašćeni aranžman koji ima sličan učinak,

u okolnostima u kojima se aranžman ili transakcija sklapaju prvenstveno kao metod povećanja Spoljne finansijske zaduženosti.

Gore navedeni stavovi (a) i (c) ne primenjuju se na dole navedena Obezbeđenja ili (ako je takav slučaj) Kvazi-obezbeđenja:

(i)

bilo koji aranžman o poravnanju ili kompenzaciji koji je sklopio Zajmoprimac ili njegove državne institucije u redovnom postupku bankarskih aranžmana za potrebe poravnanja duga i potražnog salda;

(ii)

bilo koji aranžman plaćanja, poravnanja ili kompenzaciji u skladu sa bilo kojom „hedging” transakcijom koju je sklopio Zajmoprimac ili bilo koja njegova državna institucija u svrhu:

(A) zaštite od bilo kog rizika kojem je izložena bilo koja državna institucija u svom redovnom postupku trgovanja; ili

(B) kamatne stope ili poslova upravljanja valutom koji se vode u redovnom postupku poslovanja i isključivo u nespekulativne svrhe,

u svakom slučaju isključujući bilo koje Obezbeđenje ili Kvazi- obezbeđenje po kreditnom aranžmanu vezanom za „hedging” transakciju;

iii)

bilo koju zakonsku zalogu;

iv)

bilo koje Obezbeđenje ili Kvazi-obezbeđenje imovine sklopljeno isključivo radi finansiranja kupovine ili izgradnje date imovine;

bilo koje postojeće Obezbeđenje ili Kvazi-obezbeđenje imovine u trenutku kupovine;

vi)

bilo koje obnove ili produženja bilo kog Obezbeđenja ili Kvazi-obezbeđenja opisanog u gore navedenim stavovima

- (v), pod uslovom da se glavnica obezbeđenog Spoljnog finansijskog zaduženja ne povećava i da je ta obnova ili produženje ograničena na prvobitno obezbeđenu imovinu; i

vii)

pored Obezbeđenja ili Kvazi-obezbeđenja opisanih u gore navedenim stavovima (i) do (vi) Obezbeđenje Javne imovine bilo koje kalendarske godine čija je tržišna vrednost od 1.000.000 evra ili protivvrednost u drugim valutama.

Odredba19.5

Otuđenje

Zajmoprimac neće preneti ili dozvoliti prenos bilo koje javne imovine bilo kojoj posebnoj agenciji, državnoj instituciji ili drugom pravnom licu koje direktno ili indirektno kontroliše Zajmoprimac ili bilo koja od njegovih agencija (i) radi izbegavanja Negativne zaloge iz

Klauzule 19.4

(Negativna zaloga) ili (ii) ako bi prenos umanjio njegovu sposobnost ili sposobnost Kupca da izvršava svoje obaveze prema Dokumentima o transakcijama, osim:

otuđenja u redovnom toku trgovanja;

otuđenja imovine (koje nije u redovnom toku trgovanja) za ukupna gotovinska plaćanja pod uslovom da se ta otuđenja ne odnose na imovinu koja je deo Projekta niti da na nju utiču niti na bilo koje pravo Kupca u skladu sa Ugovorom o izvozu;

otuđenje imovine u zamenu za drugu imovinu uporedivu ili superiornu po vrsti, vrednosti ili kvalitetu;

otuđivanje novca prikupljenog ili pozajmljenog u svrhu za koju je prikupljen ili pozajmljen;

otuđenje uz prethodnu pismenu saglasnost Agenta; i

bilo koje drugo otuđenje u punoj vrednosti imovine, osim kada bi to otuđenje moglo imati (po mišljenju Većine Zajmodavaca) materijalno negativan uticaj.

Odredba19.6

Obaveze po pitanju životne sredine (a) Izveštaji o samo-praćenju u oblasti životne sredine i socijalnih pitanja

Zajmoprimac će dostaviti ili će učiniti da Kupac ili Izvoznik dostavi izveštaj Izvoznoj kreditnoj agenciji UK u vremenskom okviru navedenom u stavu (ii) ili (iii) u daljem tekstu, koji će sadržati sledeće: (A) potvrdu da su (i detalje o načinu):

(1)

(u odnosu na prvi Izveštaj o samo-praćenju u oblasti životne sredine i socijalnih pitanja) sve Obaveze po pitanju životne sredine i socijalnih pitanja (uključujući obaveze Zajmoprimca i/ili Kupca) ispunjene od datuma ovog ugovora; i

(2)

ispunjene (u odnosu na svaki sledeći Izveštaj o samo- praćenju u oblasti životne sredine i socijalnih pitanja) sve Obaveze po pitanju životne sredine i socijalnih pitanja (uključujući obaveze Zajmoprimca i/ili Kupca) u periodu od najskorijeg Izveštaja o samo-praćenju u oblasti životne sredine i socijalnih pitanja

ili, ukoliko nije u stanju da dostavi takvu potvrdu, obelodaniće Obaveze u oblasti životne sredine i socijalnih pitanja koje nisu ispunjene uz detaljni prikaz neispunjenja obaveza i planiranih mera ublažavanja;

(B) detaljne podatke o postojećim Istragama ili Tužbama u oblasti životne sredine i socijalnih pitanja; i

ii)

Osim ako se nije dogodio i ne nastavlja se događaj koji predstavlja Okidače u oblasti životne sredine i socijalnih pitanja, Zajmoprimac će dostaviti ili će omogućiti da Kupac dostavi, Izveštaj o samo- praćenju u oblasti životne sredine i socijalnih pitanja u roku od dvadeset (20) Radnih dana od kraja:

(A) svakog perioda od (3) meseca tokom Faze izgradnje; i

(B) svakog perioda od dvanaest (12) meseci od početka Operativne faze.

iii)

Ako se dogodio i nastavlja se Okidač u oblasti životne sredine i socijalnih pitanja, Izvozno kreditna agencija UK može zahtevati od Zajmoprimca da dostavi ili da omogući da Kupac dostavi Izveštaj o samo-praćenju u oblasti životne sredine i socijalnih pitanja o korektivnim merama koje se preduzimaju u vezi sa Okidačem u oblasti životne sredine i socijalnih pitanja na zahtev ili u intervalima koji su potrebni.

Informacije o Istragama i Tužbama u oblasti životne sredine i

socijalnih pitanja

Zajmoprimac će, i obezbediće da Kupac to učini, čim je to praktično izvodljivo, a u svakom slučaju ne kasnije od deset (10) Radnih dana nakon

prijema od strane ili u ime Zajmoprimca ili Kupca bilo kakvog obaveštenja ili (ii) saznanja o:

bilo kojoj Istrazi u oblasti životne sredine i socijalnih pitanja; ili

ii)

bilo kojoj Tužbi u oblasti životne sredine i socijalnih pitanja,

Zajmoprimac će obavestiti ili učiniti da Korisnik kredita obavesti Izvoznu kreditnu agenciju UK o tom obaveštenju ili saznanju i obezbediti Izvoznoj kreditnoj agenciji UK sveukupne detalje o takvoj Istrazi ili Tužbi u oblasti životne sredine i socijalnih pitanja.

Incidenti u oblasti životne sredine i socijalnih pitanja

Ukoliko se dogodi incident u oblasti životne sredine i socijalnih pitanja, Zajmoprimac će sam ili će obezbediti da Kupac:

preduzme ili učini da budu preduzete sve takve aktivnosti i mere potrebne kako bi se odmah odgovorilo na negativan uticaj Incidenta u oblasti životne sredine i socijalnih pitanja; i

ii)

što je pre moguće, ali u svakom slučaju najkasnije u roku od: pet

(5)

Radnih dana, od dana dešavanja, obavestiti Izvoznu kreditnu agenciju UK o događaju i Izvoznoj kreditnoj agenciji UK obezbediti sveukupne detaljne informacije u pisanoj formi.

Okidači u oblasti životne sredine i socijalnih pitanja

(i)

Nakon što je obaveštena o tome da je došlo do događaja koji predstavlja okidač u oblasti životne sredine i socijalnih pitanja ili utvrđivanja da je došlo do događaja koji predstavlja okidač u oblasti životne sredine i socijalnih pitanja, u konsultacijama sa Zajmoprimcem, Izvozna kreditna agencija UK može:

(A) utvrditi da Zajmoprimac i/ili Kupac mogu ispraviti događaj koji predstavlja okidač u oblasti životne sredine i socijalnih pitanja u skladu sa relevantnim Planom upravljanja životnom sredinom i socijalnim pitanjima i da će Zajmoprimac i/ili Kupac obezbediti Izvoznoj kreditnoj agenciji UK izveštaje o napretku u skladu sa stavom (a) (Izveštaji o samo-praćenju u oblasti životne sredine i socijalnih pitanja)

(Obaveze u oblasti životne sredine);

(B) zahtevati da Zajmoprimac i/ili Kupac obezbedi Korektivni akcioni plan, u kom slučaju će Zajmoprimac i/ili Kupac (ukoliko je primenjivo), što je pre moguće, nakon takvog zahteva ali u svakom slučaju najkasnije u roku od petnaest

15)

Radnih dana od dobijanja takvog zahteva dostaviti Izvoznoj kreditnoj agenciji UK na odobrenje nacrt Korektivnog akcionog plana za dati Događaj koji predstavlja okidač u oblasti životne sredine i socijalnih pitanja;

(C) saglasiti se sa Zajmoprimcem o drugim merama za rešavanje Događaja koji predstavlja okidač u oblasti životne sredine i socijalnih pitanja; ili

(D) objaviti da je dati Događaj koji predstavlja okidač u oblasti životne sredine i socijalnih pitanja nemoguće rešiti.

ii)

Smatraće se da je Događaj koji predstavlja okidač u oblasti životne sredine i socijalnih pitanja nemoguće rešiti kada Izvozna kreditna agencija UK obavesti Zajmoprimca da: (i) je Događaj koji predstavlja okidač u oblasti životne sredine i socijalnih pitanja nerešiv u skladu sa gore navedenim stavom (i)(D); ili (ii) nacrt Korektivnog akcionog plana nije odobren u roku od šest (6) meseci od zahteva u skladu sa odredbama ovog stava (d) (Okidači u oblasti životne sredine i socijalnih pitanja).

iii)

Nakon zahteva Izvozne kreditne agencije UK da se dostavi nacrt Korektivnog akcionog plana u skladu sa gore navedenim stavom (i)(B) i pod uslovom da Izvozna kreditna agencija UK odobri nacrt Korektivnog akcionog plana, Zajmoprimac će preduzeti ili će učiniti da Kupac preduzme sve aktivnosti i mere kako bi se odmah rešili negativni efekti relevantnog Događaja koji predstavlja okidač u oblasti životne sredine i socijalnih pitanja, uključujući sve aktivnosti i mere koje se traže nacrtom Korektivnog akcionog plana u skladu sa vremenskim okvirima definisanim u nacrtu Korektivnog akcionog plana.

iv)

Ako Izvozna kreditna agencija UK ne prihvati nacrt Korektivnog akcionog plana u skladu sa gore navedenim stavom (i) (B):

(A) Izvozna kreditna agencija UK će ukazati Zajmoprimcu na oblasti u kojima nacrt plana ima nedostataka i rok u kome revidirani nacrt Korektivnog akcionog plana treba da bude ponovo podnet Izvoznoj kreditnoj agenciji UK na odobrenje; i

(B) Zajmoprimac ili Kupac (u zavisnosti od slučaja) će podneti revidirani nacrt Korektivnog akcionog plana nakon obavljenih konsultacija sa Izvoznom kreditnom agencijom UK i uzimanjem u obzir svih njenih stavova.

Ako Izvozna kreditna agencija UK, ne prihvati revidirani nacrt Korektivnog akcionog plana podnetog u skladu sa gore navedenim stavom (iv) (B), Izvozna kreditna agencija UK i Zajmoprimac ili Kupac (u zavisnosti od slučaja) ponoviće postupak definisan u gore navedenom stavu (iv) sve dok Izvozna kreditna agencija UK ne prihvati revidirani nacrt Korektivnog akcionog plana.

vi)

Smatraće se da je Izvozna kreditna agencija UK prihvatila nacrt Korektivnog akcionog plana trideset (30) Radnih dana nakon podnošenja osim ukoliko Izvozna kreditna agencija UK ne obavesti Zajmoprimca drugačije.

vii)

Nakon prihvatanja Korektivnog akcionog plana, Zajmoprimac će preduzeti ili učiniti da Kupac preduzme sve aktivnosti i mere definisane u Korektivnom akcionom planu u skladu sa definisanim rokovima.

viii)

Svaka tri (3) meseca od datuma prihvatanja Korektivnog akcionog plana, Zajmoprimac će dostaviti ili učiniti da Kupac dostavi Izvoznoj kreditnoj agenciji UK dopunski Izveštaj o samo-praćenju u oblasti životne sredine i socijalnih pitanja o implementaciji Korektivnog akcionog plana i dostaviće Izvoznoj kreditnoj agenciji UK finalni izveštaj o realizaciji Korektivnog akcionog plana, a svaki taj izveštaj biće u formi i sadržine prihvatljive za Izvoznu kreditnu agenciju UK.

ix)

Ukoliko Događaj koji predstavlja okidač u oblasti životne sredine i socijalnih pitanja nije rešen u vremenskim okvirima definisanim u relevantnom Korektivnom akcionom planu ili u skladu sa Planom upravljanja životnom sredinom i socijalnim pitanjima, Izvozna kreditna agencija UK može tražiti od Zajmoprimca da dostavi novi Korektivni akcioni plan ili da preduzme druge korektivne mere u skladu sa procedurama definisanim u gore navedenom stavu (d)(i) (Okidači u oblasti životne sredine i socijalnih pitanja).

Obilasci terena

(i)

Na zahtev Izvozne kreditne agencije UK, Zajmoprimac će obezbediti ili učiniti da Kupac obezbedi pristup Projektu i organizuje obilazak Izvoznoj kreditnoj agenciji UK ili imenovanom predstavniku ili IESC(i) ili Tehničkom savetniku:

(A) u bilo kom trenutku tokom primene Korektivnog akcionog plana ili kada se dogodi i traje slučaj Neispunjenja obaveza; i

(B) za potrebe praćenja ispunjenja Obaveza u oblasti životne sredine i socijalnih pitanja (osim primene Korektivnog akcionog plana),

u slučaju Izvozne kreditne agencije UK ili imenovanog predstavnika najmanje jednom u dvanaest (12) meseci; i

(2)

u slučaju IESC, najmanje svaka 3 meseca tokom Faze izgradnje i 6 meseci tokom Faze rada u periodu do kasnijeg od (i) dvadeset četiri (24) meseca nakon početka Faze rada ili (ii) dvanaest (12) meseci nakon završetka Programa kompenzacije kako je definisano u Planu upravljanja kompenzacijom biodiverziteta (BOMP) kako bi se nadoknadili preostali uticaji na biodiverzitet i postiglo da nema neto gubitka za prirodno stanište i da postoji neto dobitak za kritično stanište, šta god nastupi kasnije. Završetak Programa kompenzacije definiše se kao Datum završetka ili Prekretnica navedena u BOMP-u koji su odobrili Zajmodavci/IESC(i) (kako je navedeno u Akciji 17 ESAP).

ii)

Zajmoprimac će obezbediti da Izvozna kreditna agencija UK ili imenovani predstavnik IESC(i), i Tehnički savetnik budu promptno i pravovremeno informisani o svakom sastanku nosilaca interesa ili fokus grupe ili drugim sastancima koji su deo procesa javnih konsultacija Zajmoprimca i/ili Kupca u vezi sa Projektom i da imaju pravo da im prisustvuju.

iii)

Dnevni red, obim i (u skladu sa gore navedenim stavom (i)) vreme obilazaka utvrdiće Izvozna kreditna agencija UK ili njen imenovani predstavnik, IESC(i), nakon konsultacija sa Zajmoprimcem.

iv)

Zajmoprimac će platiti sve razumne troškove i izdatke Izvozne kreditne agencije UK i/ili nominovanog predstavnika vezano za svaki obilazak. U slučaju kada je Izvozna kreditna agencija UK ili imenovani predstavnik prinuđena direktno da plati troškove ili izdatke, Zajmoprimac će u roku od sedam (7) Radnih dana od dana zahteva u pisanoj formi nadoknaditi te iznose Izvoznoj kreditnog agenciji UK ili imenovanom predstavniku.

U meri u kojoj je to izvodljivo, pre svakog obilaska Izvozne kreditne agencije UK ili imenovanog predstavnika IESC(i):

(A) Izvozna kreditna agencija UK, njen imenovani predstavnik, IESC(i) će Zajmoprimcu dostaviti detaljne informacije u pisanoj formi o pitanjima koja su predmet interesovanja Izvozne kreditne agencije UK, njenog imenovanog predstavnika, IESC(i) tokom predloženog obilaska kako bi pomogli Zajmoprimcu da organizuje obilazak; i

(B) Zajmoprimac će Izvoznoj kreditnoj agenciji UK, njenom nominovanom predstavniku IESC(i) obezbediti ažurne informacije o pitanjima koja Izvozna kreditna agencija UK, njen imenovani predstavnik IESC(i) mogu tražiti.

vi)

Nakon svakog obilaska Izvozne kreditne agencije UK ili njenog imenovanog predstavnika IESC(i), Zajmoprimac će naknadno dostaviti izveštaje ili informacije koje Izvozna kreditna agencija UK ili njen imenovani predstavnik, ili IESC(i) mogu tražiti.

Plan upravljanja životnom sredinom i socijalnim pitanjima u

Operativnoj fazi

Zajmoprimac će dostaviti ili učiniti da Kupac dostavi u roku od šest

(6)

meseci pre početka Operativne faze nacrt Plana upravljanja životnom sredinom i socijalnim pitanjima u Operativnoj fazi koji je pripremljen za UKEF Kreditni aranžman iz 2021. godine.

ii)

Izvozna kreditna agencija UK će obavestiti Zajmoprimca u roku od jednog (1) meseca od prijema da li je nacrt Plana upravljanja životnom sredinom i socijalnim pitanjima u Operativnoj fazi prihvaćen.

iii)

Ukoliko Izvozna kreditna agencija UK ne prihvati nacrt Plana upravljanja životnom sredinom i socijalnim pitanjima u Operativnoj fazi podnetog u skladu sa gore navedenim stavom (ii):

(A) Izvozna kreditna agencija će Zajmoprimcu ukazati na oblasti nacrta Plana upravljanja životnom sredinom i socijalnim pitanjima u Operativnoj fazi koji ima nedostatke i rok u kome je Izvoznoj kreditnoj agenciji UK potrebno ponovo podneti revidirani nacrt Plana upravljanja životnom sredinom i socijalnim pitanjima u Operativnoj fazi; i (B) Zajmoprimac ili Kupac (u zavisnosti od slučaja) će podneti revidirani nacrt Plana upravljanja životnom sredinom i socijalnim pitanjima u Operativnoj fazi nakon konsultacija sa Izvoznom kreditnom agencijom UK i uzimanja u potpunosti u obzir njenog mišljenja.

iv)

Ukoliko Izvozna kreditna agencija UK ne prihvati revidirani nacrt Plana upravljanja životnom sredinom i socijalnim pitanjima u Operativnoj fazi podnet u skladu sa gore navedenim stavom (iii) (B), Izvozna kreditna agencija UK i Zajmoprimac ili Kupac (u zavisnosti od slučaja) ponoviće postupak dat u gore navedenom stavu (iii), sve dokle revidirani nacrt Plana upravljanja životnom sredinom i socijalnim pitanjima u Operativnoj fazi ne bude prihvaćen.

Smatraće se da je Izvozna kreditna agencija UK prihvatila nacrt Plana upravljanja životnom sredinom i socijalnim pitanjima u Operativnoj fazi trideset (30) Radnih dana od podnošenja osim ako Izvozna kreditna agencija UK ne obavesti Zajmoprimca drugačije.

IESC(i)

Ukoliko Zajmoprimac ili Kupac propuste da IESC(i) plati bilo koji iznos koji je dospeo i plativ a potom taj iznos za račun Zajmoprimca plati Izvozna kreditna agencija UK, Zajmoprimac će nadoknaditi Izvoznoj kreditnoj agenciji UK iznos jednak iznosu koji je Izvozna kreditna agencija UK platila u roku od deset (10) dana od prijema obaveštenja da je Izvozna kreditna agencija UK platila navedeni iznos.

Odredba19.7

Zakon o sprečavanju korupcije

Zajmoprimac će uraditi sledeće ili omogućiti da Kupac uradi sledeće:

poštovaće važeće Zakone o sprečavanju korupcije i sprovodiće svoje funkcije i aktivnosti u skladu sa njima; i

neće direktno ili indirektno koristiti sredstva Kreditnog aranžmana u bilo koju drugu svrhu čime bi prekršio Zakon o podmićivanju iz 2010, Zakon o inostranim koruptivnim praksama SAD-a iz 1977. ili druge slične propise u drugim jurisdikcijama;

održavaće politike i procedure koncipirane tako da promovišu i postignu usklađenost sa Zakonima o sprečavanju korupcije;

neće tražiti kredite, i neće koristiti i osiguraće da njegovi službenici, zaposleni i agenti ne koriste sredstva bilo kog Kredita kako bi ponudili plaćanje, dali obećanje o plaćanju niti će dozvoliti plaćanje ili davanje novca ili bilo čega drugog vrednog bilo kom licu čime bi se kršili Zakoni o sprečavanju korupcije; i

neće, direktno ili indirektno, odobriti, nuditi, obećavati ili platiti bilo šta što ima vrednost, uključujući ali ne ograničavajući se na gotovinu, čekove, transfer novca, materijalne i nematerijalne poklone, usluge i druge troškove reprezentacije i putne troškove koji prevazilaze ono što se razumno i obično smatra umerenom skromnom vrednošću:

(i)

direktoru, zvaničniku, zaposlenom ili agentu državne institucije, agencije ili organa,

(ii)

direktoru, zvaničniku, zaposlenom ili agentu u kompaniji ili preduzeću koje je u potpunosti ili delimično u vlasništvu države ili kontrolisano od strane države,

(iii)

političkoj partiji ili njenom zvaničniku, ili kandidatu na političku funkciju,

(iv)

stranom državnom zvaničniku, ili

(v)

bilo kom drugom licu, znajući ili razumno smatrajući da će sav ili deo biti upotrebljen za:

(A) uticanje na njene ili njegove radnje, odluke, ili odsustvo radnji u službenom postupanju,

(B) nagnati bilo koje navedeno lice da koristi svoj uticaj u vladi ili drugoj instituciji kako bi uticao na radnje ili odluke te vlade ili institucije, ili

neće obezbediti bespravnu prednost, kako bi se stekli ili zadržali poslovi ili njima upravljalo.

Odredba19.8

Zakoni i propisi o sankcijama

Zajmoprimac neće tražiti bilo kakvo Korišćenje sredstava, i neće koristiti i obezbediće da Kupac, nadležni ministri, direktori, zvaničnici, službenici i agenti ne koriste sredstva (A) za potrebe finansiranja ili omogućavanja aktivnosti, poslova ili transakcija Sankcionisanog lica ili sa njim, niti u bilo kojoj Sankcionisanoj državi, osim u meri u kojoj je dozvoljeno Licu koje mora da poštuje Zakone i propise o sankcijama, ili (B) na bilo koji način koji bi za rezultat imao kršenje odredaba Zakona i propisa o sankcijama.

Obaveze navedene u

Klauzuli 19.8(a)

neće se primenjivati na bilo koju stranu na koju se odnosi (i) Zakon o blokiranju, ako i u meri u kojoj takve obaveze jesu ili bi mogle biti neizvršive od strane te stranke ili u vezi sa njom u skladu sa zakonom o blokiranju, ili bi na drugi način rezultirale kršenjem bilo koje odredbe istog zakona.

Odredba19.9

Osiguranje

Zajmoprimac će:

obezbediti da svaka roba i/ili usluge koje se isporučuju pod Ugovorom o izvozu budu osigurane na zadovoljstvo Agenta od rizika gubitka ili oštećenja u skladu sa uobičajenom komercijalnom praksom za slične ugovore do konačnog prihvatanja te robe i/ili usluge u okviru Ugovora o izvozu; i

dostaviti Agentu (s vremena na vreme, na zahtev Agenta) dokaze da je to osiguranje sklopljeno i na snazi.

Odredba19.10

Rangiranje po principu rari passu

Zajmoprimac će obezbediti da se uvek sva neobezbeđena i nesubordinisana potraživanja Strane kreditnog aranžmana po osnovu Dokumenata o finansiranju rangiraju minimum pari passu sa potraživanjima svih njegovih drugih neobezbeđenih i nesubordinisanih kreditora, osim obaveza koje imaju prednost prema odredbama zakona čija primena je obavezujuća na datum ovog ugovora i u slučaju Zajmoprimca, biće plativa iz javnih prihoda i druge aktive Zajmoprimca.

Odredba19.11

Obaveze evidentiranja i izveštavanja

Zajmoprimac će odmah nakon Inicijalnog korišćenja registrovati relevantne detaljne podatke ovog ugovora u evidenciji javnog duga pri Upravi za javni dug pri Ministarstvu finansija Republike Srbije.

Zajmoprimac će poštovati sve obaveze vezane za izveštavanje NBS-a u vezi sa ovim Ugovorom u skladu sa Zakonom o deviznom poslovanju, Službeni glasnik Republike Srbije br. 62/2006, 31/2011, 119/2012, 139/2014 i 30/2018) i propisima o njegovom sprovođenju, ili drugim propisima i podzakonskim aktima koji mogu dopuniti, izmeniti ili zameniti gore navedeno.

Odredba19.12

Budžet i ograničenja

Zajmoprimac će uključiti sve dospele i plative iznose ili iznose koji dospevaju i koji se plaćaju Stranama kreditnog aranžmana prema Finansijskim dokumentima tokom jedne kalendarske godine u svom godišnjem zakonu o finansiranju i svojim budžetskim izveštajima ili drugim finansijskim planovima za tu kalendarsku godinu i osiguraće da ni u jednom trenutku neće biti ograničenja sposobnosti Zajmoprimca da ispunjava svoje obaveze iz Finansijskih dokumenata.

Zajmoprimac će zadržati sredstva potrebna za otplatu svih svojih obaveza iz Finansijskih dokumenata koji su predviđeni zakonom o usvajanju budžeta Republike Srbije (Zakon o budžetu Republike Srbije).

Zajmoprimac će osigurati da, u svakom trenutku, njegova zaduženja i garancije ostanu u okvirima datim od strane MMF-a, Svetske banke i relevantnih međunarodnih sporazuma.

Odredba19.13

Poštovanje Ugovora o izvozu

Zajmoprimac će učiniti sledeće (i obezbediti da Kupac učini sledeće):

po svim materijalnim pitanjima će poštovati svoje obaveze prema Ugovoru o izvozu, na način i u rokovima njime definisanim; i

neće otkazati ili pokazati nameru da otkaže Ugovor o izvozu niti će izostaviti preduzimanje radnji što bi moglo prouzrokovati neispunjenje obaveza u smislu plaćanja ili drugih materijalnih obaveza prema Ugovoru o izvozu.

Odredba19.14

Saglasnost za dodatno finansijsko zaduženje u pogledu daljeg finansiranja putem izvoznih kredita za Projekat

Podložno stavu (b) ispod, pre nego što nastanu bilo koja dodatna finansijska zaduženja od bilo koje druge ili u njeno ime (ili garantovani ili osigurani od ili u njeno ime) agencije za izvozne kredite (osim Izvozne kreditne agencije UK) u vezi sa Projektom ili bilo kojim drugim iznosom koji Kupac plati ili će platiti po Ugovoru o izvozu ili u vezi sa njim, Zajmoprimac će Agentu dostaviti dokaze u prihvatljivoj formi i sadržaju da je zahtevano učešće u okviru Organizacija za ekonomsku saradnju i razvoj za zvanično podržane izvozne kredite (poznat kao Aranžman OECD-a) ispunjeno.

Stav (a) iznad ne primenjuje se:

(i)

kada Zajmoprimac zatraži takvo dalje finansiranje u svrhe zamene ili refinansiranja bilo koje dodatne i / ili postojeće finansijske zaduženosti u celini (a ne delimično) po osnovu Finansijskih dokumenata, i

(ii)

u pogledu Finansijske zaduženosti u vezi sa Ugovorom o izvozu za koju garantuje Multilateralna agencija za garantovanje izvoza.

20.Čl. 20.1–20.14

SLUČAJEVI NEISPUNJENJA OBAVEZA

Svaki od događaja ili okolnosti koji su dati u ovoj

Klauzuli 20

predstavlja Slučaj neispunjenja obaveza (osim

Klauzule 20.14

(Ubrzanje)).

Odredba20.1

Neplaćanje

Zajmoprimac ne izvršava plaćanje iznosa na datum dospeća koji je plativ u skladu sa Dokumentom o finansiranju u mestu i u valuti u kojoj je izražen da treba da bude plativ, osim ukoliko:

je njegovo neplaćanje uzrokovano:

(i)

administrativnom ili tehničkom greškom; ili

(ii)

nastupanjem Događaja poremećaja; i

plaćanje se izvrši u roku od tri (3) Radna dana od datuma dospeća.

Odredba20.2

Druge obaveze

Zajmoprimac ne postupa u skladu sa odredbama Dokumenata o finansiranju (osim onih iz

Klauzule 20.1

(Neplaćanje) i

Klauzule 20.13

(Životna sredina).

Ni jedno Neispunjenje obaveza navedeno u stavu (a) neće se desiti ako je propust u ispunjenju rešiv i to u roku od deset (10) Radnih dana pre nego što je:

(i)

Agent obavestio Zajmoprimca; i

(ii)

Zajmoprimac postao svestan nepostupanja.

Odredba20.3

Netačne izjave

Ako bilo koja tvrdnja ili izjava data ili za koju se smatra da je data od strane Zajmoprimca u Dokumentu o finansiranju ili drugom dokumentu koji dostavi Zajmoprimac ili u njegovo ime po osnovu ili u vezi sa bilo kojim Dokumentom o transakciji jeste ili se dokaže da je bila netačna ili obmanjujuća po bilo kom materijalnom aspektu kada je data ili se smatra da je data.

Odredba20.4

Unakrsno neispunjenje obaveza

Svaka Eksterna finansijska zaduženost Zajmoprimca koja nije plaćena kada je dospela ili tokom prvobitno primenjivog grejs perioda.

Kao rezultat neispunjenja obaveza (kako god da je opisano), sva Finansijska zaduženja Zajmoprimca ili druge državne institucije se:

(i)

proglašavaju dospelim ili na drugi način postaju dospele pre navedenog dospeća; ili

(ii)

proglašavaju plativim.

Bilo koja angažovana sredstva za Eksternu finansijsku zaduženost Zajmoprimca je otkazana ili suspendovana od strane poverioca Zajmoprimca kao rezultat neispunjenja obaveza (kako god da je opisano).

Neispunjenje obaveza neće nastupiti u skladu sa ovom

Klauzulom 20.4

ukoliko ukupan iznos Eksterne finansijske zaduženosti ili angažovanih sredstava za Eksternu finansijsku zaduženost iz gore navedenih stavova

– (c) ne premašuje iznos od 50.000.000 evra (ili njegovu protivvrednost u bilo kojoj valuti ili valutama koje je Agent utvrdio).

Odredba20.5

Moratorijum

Moratorijum se proglašava ili de facto stupa na snagu na plaćanje Eksterne finansijske zaduženosti Zajmoprimca ili Zajmoprimac započne pregovore sa bilo kojom ili više Poverilaca Eksterne finansijske zaduženosti u cilju opšteg usklađivanja ili restrukturiranja obaveza.

Odredba20.6

Postupak kreditora

Svaka eksproprijacija, obustava, sekvestracija, zaplena ili izvršenje (ili sličan postupak u bilo kojoj jurisdikciji) koja utiče na imovinu ili imovine Zajmoprimca, Kupca, bilo koje državne institucije čija je ukupna vrednost od 5.000.000 evra i koja nije oslobođena u roku od trideset (30) dana.

Odredba20.7

Nezakonitost

Ako jeste ili postane nezakonito da Zajmoprimac ili Kupac izvršavaju svoje obaveze po osnovu Dokumenata o transakcijama.

Ako bilo koja obaveza ili obaveze Zajmoprimca po osnovu Dokumenta o finansiranju nisu ili prestaju da budu zakonite, validne, obavezujuće ili izvršne i prestanak pojedinačno ili kumulativno materijalno i negativno utiče na interese Zajmodavaca prema Dokumentima o finansiranju.

Odredba20.8

MMF

Zajmoprimac prestaje da bude član ili prestaje da bude kvalifikovan da koristi sredstva MMF-a ili iz bilo kog razloga nije u mogućnosti da povuče ili koristi raspoloživa sredstva iz bilo kog MMF-ovog programa finansiranja ili je bilo koji takav program otkazan ili suspendovan.

Odredba20.9

Opoziv

Zajmoprimac ili Kupac opozovu Dokument o transakciji ili pokazuju nameru da opozovu Dokument o transakciji.

Odredba20.10

Devizne kontrole

Događaj ili serija događaja koji se dogode i ograničavaju kupovinu ili transfer strane valute od strane Zajmodavca i takav događaj ili događaji imaju uticaj ili je razumno očekivati da imaju uticaj na sposobnost Zajmoprimca da ispunjava svoje obaveze po Dokumentu o finansiranju.

Odredba20.11

Materijalno negativna promena

Bilo koja okolnost do koje dođe a koja po mišljenju Zajmodavca daje razuman osnov za verovanje da je došlo do materijalno negativne promene:

ekonomskog stanja Zajmoprimca; ili

sposobnosti Zajmoprimca da ispuni bilo koju od svojih obaveza po osnovu Dokumenata o finansiranju.

Odredba20.12

Konvertibilnost/prenosivost

Svaki zakon o deviznom poslovanju koji se menja, donosi ili usvaja u Republici Srbiji ili je verovatno da će se menjati, donositi ili usvajati u Republici Srbiji koji (prema razumnom mišljenju Većinskih zajmodavaca):

ima ili se može očekivati da će imati uticaja u smislu materijalne zabrane, ograničavanja ili odlaganja plaćanja koje Zajmoprimac treba da izvrši u skladu sa uslovima definisanim u Dokumentima o finansiranju; ili

materijalno negativno utiče na interese Strana u finansiranju koji proističu ili su vezani sa Dokumentima o finansiranju.

Odredba20.13

Životna sredina

Neispunjenje obaveza vezanih za životnu sredinu i socijalna pitanja u skladu sa stavom d(i)D (Okidači u oblasti životne sredine i socijalnih pitanja)

(Obaveze u oblasti životne sredine) se dogodilo i nije ga moguće rešiti ili se smatra da je Neispunjenje obaveza vezanih za životnu sredinu i socijalna pitanja nerešivo u skladu sa stavom d(ii) (Okidači u oblasti životne sredine i socijalnih pitanja)

(Obaveze u oblasti životne sredine).

Bilo koji Plan upravljanja životnom sredinom i socijalnim pitanjima u Operativnoj fazi nije prihvaćen od strane Izvozne kreditne agencije UK u roku od šest (6) meseci od prvog podnošenja u skladu sa stavom (f) (Plan upravljanja životnom sredinom i socijalnim pitanjima u Operativnoj fazi)

(Obaveze u oblasti životne sredine).

Odredba20.14

Ubrzavanje

U bilo kom trenutku nakon nastanka Slučaja neispunjenja obaveze koji traje Agent može, i hoće ukoliko mu tako nalože Većinski zajmodavci, dostavljanjem obaveštenja Zajmoprimcu:

otkazati Ukupna angažovana sredstva nakon čega će ista biti odmah otkazana Kreditni aranžman će odmah prestati da bude dostupan za dalje korišćenje;

proglasiti da će celokupni ili deo Kredita, zajedno sa obračunatom kamatom, i svim drugim iznosima obračunatim ili neizmirenim po osnovu Dokumenata o finansiranju biti bez odlaganja dospeli i plativi, nakon čega će isti odmah dospeti na plaćanje; i/ili

proglasiti da će celokupni ili deo Kredita biti plativ na zahtev, nakon čega će isti dospeti odmah za plaćanje na zahtev Agenta, po instrukcijama Većinskih zajmodavaca.

ODELjAK 8

PROMENA STRANA

21.Čl. 21.1–21.10

PROMENE ZAJMODAVACA

Odredba21.1

Ustupanja i prenosi od strane Zajmodavaca

U skladu sa odobrenjem Izvozne kreditne agencije UK i ove

Klauzule 21

, Zajmodavac (u daljem tekstu: „Postojeći zajmodavac”) može:

ustupiti svoja prava; i/ili

preneti cesijom bilo koje svoje pravo ili obavezu po osnovu Finansijskih dokumenata,

drugoj banci ili finansijskoj instituciji ili trastu, fondu ili drugom entitetu koji se redovno bavi ili je osnovan u svrhu davanja, kupovine ili ulaganja u zajmove, hartije od vrednosti ili drugu finansijsku imovinu, Filijali, osiguravačima, reosiguravačima, bilo kom finansijskom instrumentu koji je osnovan i kojim upravlja (ili čija se sredstva servisiraju ili upravljaju) Zajmodavac ili bilo koja treća strana, u svrhu sekjuritizacije ili na drugi način finansiranja zajmova ili Izvoznoj kreditnoj agenciji UK (u daljem

tekstu: „Novi zajmodavac”).

Odredba21.2

Uslovi ustupanja ili prenosa

Ustupanje će biti važeće kada:

(i)

Agent primi (bilo u Ugovoru o ustupanju ili drugačije) pismenu potvrdu od Novog zajmodavca (u formi i sadržaja koje Agent smatra zadovoljavajućim) da će Novi zajmodavac preuzeti iste obaveze prema drugim Stranama kreditnog aranžmana koje bi imao da je Prvobitni zajmodavac; i

(ii)

Agent izvrši provere uključujući i proveru „upoznaj svog Klijenta” ili druge slične provere u skladu sa svim važećim zakonima i propisima vezanim za dato ustupanje Novom zajmodavcu, o čijem izvršenju će Agent odmah obavestiti Postojećeg zajmodavca i Novog zajmodavca.

Prenos će biti važeći samo ukoliko su procedure date u

Klauzuli 21.5

(Procedure za prenos) ispoštovane.

Ako:

(i)

Zajmodavac ustupi ili prenese neko od svojih prava ili obaveza u vezi sa Finansijskim dokumentima ili izmenama u Kancelariji kreditnog aranžmana; i

(ii)

kao rezultat postojećih okolnosti na datum ustupanja, prenosa ili nastanka izmena, Zajmoprimac bude u obavezi da izvrši plaćanje Novom Zajmodavcu ili Zajmodavcu koji deluje preko nove Kancelarije Aranžmana u skladu sa

Klauzulom 12

(Bruto porez i refundacija) ili

Klauzule 13.1

(Povećani troškovi), onda će Novi Zajmodavac ili Zajmodavac koji deluje preko nove Kancelarije Aranžmana biti ovlašćen da primi plaćanje u skladu sa Klauzulama u istom iznosu kao što bi i Postojeći Zajmodavac ili Zajmodavac koji deluje preko prethodne Kancelarije Aranžmana bili, da nije došlo do ustupanja, prenosa ili izmene. Stav (c) se neće primenjivati na ustupanje ili prenos do koga je došlo u redovnom toku primarnog sindiciranja Kredita.

Svaki Novi zajmodavac, potpisivanjem relevantne Potvrde o prenosu ili Ugovora o ustupanju, potvrđuje, u cilju izbegavanja sumnje, da Agent ima ovlašćenje da potpiše u njegovo ime bilo koju izmenu ili odricanje koje je odobreno od strane ili u ime Zajmodavca ili Zajmodavaca koji vrše ustupanje ili prenos u skladu sa ovim Ugovorom na ili pre datuma kada prenos ili ustupanje postane pravosnažno u skladu sa ovim Ugovorom i da je ta odluka obavezujuća u istoj meri kao što bi bila za Postojećeg zajmodavca da je ostao Zajmodavac.

Odredba21.3

Naknada za ustupanje ili prenos

Novi Zajmodavac će, na datum od kojeg ustupanje ili prenos stupi na snagu ili ranije (osim ako je Novi zajmodavac Izvozna kreditna agencija UK ili Filijala Zajmoprimca), platiti Agentu (u svoje ime) naknadu u iznosu od 5.000 evra.

Odredba21.4

Ograničenje odgovornosti Postojećih zajmodavaca

Osim ako je izričito dogovoreno suprotno, Postojeći zajmodavac ne tvrdi niti garantuje niti preuzima odgovornost za Novog zajmodavca za:

(i)

zakonitost, validnost, efektivnost, adekvatnost i izvršnost Finansijskih dokumenata ili drugih dokumenata;

(ii)

finansijsko stanje Zajmoprimca;

(iii)

izvršavanja i poštovanje obaveza Zajmoprimca po osnovu Finansijskih dokumenata ili drugih dokumenata; ili

(iv)

tačnost tvrdnji (bilo pismenih ili usmenih) datih u ili u vezi sa Finansijskim dokumentom ili drugim dokumentom,

a tvrdnje i garancije implicirane zakonom se isključuju.

Svaki Novi zajmodavac potvrđuje Postojećem zajmodavcu i drugim Stranama kreditnog aranžmana:

(i)

da je izvršio (i da će nastaviti da izvršava) svoje nezavisne analize i procene finansijskog stanja i poslovanja Zajmoprimca i njegovih povezanih entiteta u vezi sa njegovim učešćem u ovom Ugovoru i da se nije oslanjao isključivo na informacije koje je dobio od Postojećeg zajmodavca u vezi sa bilo kojim Finansijskim dokumentom; i

(ii)

da će nastaviti da vrši svoje nezavisne ocene boniteta Zajmoprimca i njegovih povezanih entiteta sve dok neki iznos jeste ili može biti neizmiren po osnovu Finansijskih dokumenata ili bilo koja Angažovana sredstva na snazi.

Ništa iz bilo kojih Finansijskih dokumenata ne obavezuje Postojećeg zajmodavca da:

(i)

prihvati ponovni prenos ili ponovno ustupanje sa Novog zajmodavca bilo kojih prava i obaveza ustupljenih ili prenetih u skladu sa ovom

; ili

(ii)

podrži gubitke koji direktno ili indirektno nastanu za Novog zajmodavca zbog Zajmoprimčevog neizvršenja obaveza po Finansijskim dokumentima ili drugom osnovu.

Odredba21.5

Postupak prenosa

Shodno uslovima datim u

Klauzuli 21.2

(Uslovi ustupanja ili prenosa) prenos se vrši u skladu sa stavom (c) ispod u daljem tekstu kada Agent potpiše ili na drugih način propisno popuni Potvrdu o prenosu koju mu dostave Postojeći zajmodavac i Novi zajmodavac.

Agent će, u skladu sa stavom (c) ispod u daljem tekstu čim bude razumno izvodljivo pošto primi propisno popunjenu Potvrdu o prenosu koja je očigledno usklađena sa uslovima ovog ugovora i dostavljena u skladu sa uslovima ovog ugovora, potpisati tu Potvrdu o prenosu. Agent će biti u obavezi da potpiše Potvrdu o prenosu koju mu dostave Postojeći zajmodavac i Novi zajmodavac samo kada bude smatrao da su sve neophodne provere „upoznaj svog Klijenta” ili druge slične provere u skladu sa svim primenjivim zakonima i propisima u vezi sa prenosom na tog Novog zajmodavca propisno sprovedene.

U skladu sa

Klauzulom 21.9

(Proporcionalno plaćanje kamate), na Datum prenosa:

(i)

u meri u kojoj Potvrdom o prenosu Postojeći zajmodavac novacijom prenosi svoja prava i obaveze koje proističu iz Finansijskih dokumenata, Zajmoprimac i Postojeći zajmodavac bivaju oslobođeni daljih obaveza jedan prema drugom po Finansijskim dokumentima, a uzajamna prava po Finansijskim dokumentima se ukidaju (što se smatra kao „Oslobađanje od prava i obaveza”);

(ii)

Zajmoprimac i Novi zajmodavac će preuzeti uzajamne obaveze i/ili uzajamna prava koja se razliku od Oslobađanja od prava i obaveza samo u toliko koliko su Zajmoprimac i Novi zajmodavac preuzeli i/ili stekli iste umesto Zajmoprimca i Postojećeg zajmodavca;

(iii)

Agent, Aranžeri, Novi zajmodavac i drugi Zajmodavci će steći ista uzajamna prava i preuzeti iste uzajamne obaveze koje bi imali da je Novi zajmodavac Prvobitni zajmodavac sa preuzetim ili stečenim pravima i/ili obavezama kao rezultat prenosa i u meri u kojoj Agent, Aranžeri i Postojeći zajmodavac budu međusobno oslobođeni daljih obaveza prema Finansijskim dokumentima; i

(iv)

osim ako je već Zajmodavac, Novi zajmodavac postaje Strana kao

„Zajmodavac”.

Odredba21.6

Postupak ustupanja

Shodno uslovima datim u

Klauzuli 21.2

(Uslovi ustupanja ili prenosa) ustupanje se realizuje u skladu sa stavom (c) u daljem tekstu kada Agent potpiše ili na drugi način propisno popuni Ugovor o ustupanju koju mu dostave Postojeći zajmodavac i Novi zajmodavac. Agent će, u skladu sa stavom (b) u daljem tekstu čim bude razumno izvodljivo pošto primi propisno popunjen Ugovor o ustupanju koji je očigledno usklađen sa uslovima ovog ugovora i dostavljen u skladu sa uslovima ovog ugovora, potpisati taj ugovor o ustupanju.

Agent će biti u obavezi da potpiše Ugovor o ustupanju koji mu dostave Postojeći zajmodavac i Novi zajmodavac samo kada bude smatrao da su sve neophodne provere „upoznaj svog Klijenta” ili druge slične provere u skladu sa svim primenjivim zakonima i propisima u vezi sa prenosom na tog Novog zajmodavca propisno sprovedene.

Shodno

Klauzuli 21.9

(Proporcionalno plaćanje kamate), na Datum prenosa:

(i)

Postojeći zajmodavac apsolutno ustupa Novom zajmodavcu prava po osnovu Finansijskih dokumenata koja su navedena kao predmet ustupanja u Ugovoru o ustupanju;

(ii)

Postojeći zajmodavac oslobađa se obaveza (u daljem tekstu: “Relevantne obaveze”) od strane Zajmoprimca i drugih Strana kreditnog aranžmana navedenih kao predmet oslobađanja u Ugovoru o ustupanju; i

(iii)

Novi zajmodavac postaje Strana kao „Zajmodavac” i biće obavezan obavezama koje su ekvivalentne Relevantnim obavezama.

Zajmodavci mogu koristiti druge procedure osim onih datih u ovoj

Klauzuli 21.6

za ustupanje svojih prava po osnovu Finansijskih dokumenata (ali ne bez odobrenja Zajmoprimca ili pod uslovom da su u skladu sa

Klauzulom 21.5

(Procedura za prenos), kako bi dobili oslobađanje Zajmoprimca od obaveza koje Zajmodavci imaju prema Zajmoprimcu i preuzimanje ekvivalentnih obaveza od strane Novog zajmodavca) pod uslovom da su u skladu sa uslovima definisanim u

Klauzuli 21.2

(Uslovi ustupanja ili prenosa).

Odredba21.7

Primerak Potvrde o prenosu ili Ugovora o ustupanju za Zajmoprimca i NBS

Agent će, čim bude praktično izvodljivo nakon što potpiše Potvrdu o prenosu ili Ugovor o ustupanju, poslati Zajmoprimcu primerak te Potvrde o prenosu ili Ugovora o ustupanju.

Zajmoprimac će, čim bude izvodljivo nakon što je primio primerak Potvrde o prenosu ili Ugovora o ustupanju dostaviti NBS-u (uz primerak Agentu) pisanu izjavu:

(i)

potvrđujući prenos prava Zajmodavaca prema Dokumentima o finansiranju, i

(ii)

(ukoliko je primenjivo) kojom se daje saglasnost na prenos obaveza Zajmodavaca prema Finansijskim dokumentima za potrebe izveštavanja Zajmodavca o promenama.

Odredba21.8

Obezbeđenje prava Zajmodavaca

Pored drugih prava datih Zajmodavcima u skladu sa ovom

, svaki Zajmodavac može bez savetovanja sa Zajmoprimcem ili bez njegove saglasnosti (ali uz uslov dobijanja saglasnosti Izvozne kreditne agencije UK), u svakom trenutku naplatiti, ustupiti ili na drugi način uspostaviti Obezbeđenje (kao kolateral ili na drugi način) na svim ili nekim od svojih prava po svakom Finansijskom dokumentu kako bi obezbedio obaveze tog Zajmodavca uključujući, ali ne ograničavajući se na:

(i)

svako opterećenje, ustupanje ili drugo Obezbeđenje radi obezbeđenja obaveza prema federalnim rezervama ili centralnoj banci; i

(ii)

u slučaju bilo kog Zajmodavca koji je fond, svako opterećenje, ustupanje ili drugo Obezbeđenje odobreno imaocima (ili povereniku ili predstavniku imalaca) dugovanih obaveza ili izdatih hartija od vrednosti od strane tog Zajmodavca kao obezbeđenje za te obaveze i hartije od vrednosti,

osim što takvo opterećenje, ustupanje ili Obezbeđenje neće:

iii)

osloboditi Zajmodavca od bilo koje njegove obaveze po Finansijskim dokumentima ili zameniti korisnika relevantnog opterećenja, ustupanja ili Obezbeđenja za Zajmodavca kao stranu svih Finansijskih dokumenata; ili

iv)

zahtevati da Zajmoprimac izvrši bilo kakva druga plaćanja osim ili veća od onih koja se moraju izvršiti ili dati relevantnom Zajmodavcu ili dodeliti bilo kom licu opsežnija prava od onih koja treba izvršiti ili dodeliti relevantnom Zajmodavcu po Finansijskim dokumentima.

Ograničenja na ustupanja i prenose Zajmodavca koja su navedena u bilo kom Finansijskom dokumentu, posebno u

klauzuli 21.1

(Ustupanja i prenosi od strane Zajmodavaca),

klauzuli 21.2

(Uslovi ustupanja ili prenosa),

klauzuli 21.3

(Naknada za ustupanje ili prenos),

klauzuli 21.5

(Postupak prenosa), klauzulama 21.6 (Postupak ustupanja) i 21.7 (Primerak Potvrde o prenosu ili Ugovora o ustupanju za Zajmoprimca i NBS) se neće primenjivati na formiranje Obezbeđenja u skladu sa stavom

iznad.

Na osnovu izvršenja svakog ustupanja, zaloge ili Obezbeđenja koje je formirano u skladu sa stavom (a) iznad, prema bilo kom važećem zakonu, od datuma kada korisnik obavesti Agenta o tom izvršenju svakog ustupanja, zaloge ili Obezbeđenja, smatraće se da je taj korisnik postao Stranka kao „Zajmodavac” u pogledu prava Zajmodavca koja su predmet takvog izvršenja.

Odredba21.9

Proporcionalno plaćanje kamate

Ako je Agent obavestio Zajmodavca da može proporcionalno da raspodeljuje plaćanje kamata postojećim Zajmodavcima i Novim zajmodavcima koji su tada postali zajmodavci (u vezi sa bilo kakvim prenosom u skladu sa

Klauzulom 21.5

(Postupak prenosa) ili bilo kakvim ustupanjem u skladu sa

Klauzulom 21.6

(Postupak ustupanja) čiji Datum prenosa u svakom slučaju nastupa nakon datuma takvih obaveštenja i nije Datum plaćanja kamate):

(i)

svaka kamata ili naknada u vezi sa relevantnim učešćem za koju je navedeno da se obračunava u odnosu na protok vremena i dalje će se obračunavati u korist postojećeg Zajmodavca sve do ali ne uključujući Datum prenosa (u daljem tekstu: „Obračunati iznos”) i dospeva i postaje plativa Postojećem zajmodavcu (bez dodatnih kamata na njih) sledećeg narednog Datuma plaćanja kamate; i

(ii)

prava koja je ustupio ili preneo Postojeći zajmodavac ne obuhvataju pravo na Obračunate iznose tako da, da bi se otklonila svaka sumnja:

(A) kada Obračunati iznosi postanu plativi, ti Obračunati iznosi se plaćaju Postojećem zajmodavcu; i

(B) iznos plativ Novom zajmodavcu koji je postao Zajmodavac na taj datum biće iznos koji bi bio plativ na taj dan da se primenjuje

Klauzula 21.9

, ali nakon odbitka Obračunatih iznosa.

U ovoj

Klauzuli 21.9

upućivanja na “Kamatni period” tumače se tako da obuhvataju upućivanje na bilo koji dugi period za obračun naknada.

Odredba21.10

Registar

Agent je u obavezi da vodi ažurirani registar svih Strana kreditnog aranžmana i da na zahtev dostavi Zajmodavcu, svakoj Strani kreditnog aranžmana i Izvoznoj kreditnoj agenciji UK primerak registra. Registar će obuhvatiti sve Kancelarije zajmodavca i kontakt podatke za potrebe ovog ugovora.

22.

PROMENA ZAJMOPRIMCA

Zajmoprimac ne može ustupiti svoja prava niti preneti svoja prava ili obaveze koje proističu iz Finansijskih dokumenata.

ODELjAK 9

STRANE KREDITNOG ARANŽMANA

23.Čl. 23.1–23.19

ULOGA AGENTA I ARANŽERA

Odredba23.1

Imenovanje Agenta

Svako od Aranžera i Zajmodavac će imenovati Agenta koji će postupati kao njihov zastupnik po i u vezi sa Finansijskim dokumentima.

Svako od Aranžera i Zajmodavac ovlastiće Agenta da ispunjava dužnosti, obaveze i odgovornosti i da koristi prava, ovlašćenja i diskreciona prava koja su Agentu data specijalno po i u vezi sa Finansijskim dokumentima, kao i bilo koja druga povezana prava, mogućnosti, ovlašćenja i diskreciona prava.

Svako od Aranžera i Zajmodavac izuzima Agenta od ograničenja shodno članu 181 Građanskog zakonika (Bürgerliches Gesetzbuch) i sličnih ograničenja koja se na njega primenjuju u skladu sa bilo kojim drugim primenljivim zakonom, u svakom slučaju u zakonski mogućoj meri za takvu Stranu kreditnog aranžmana. Strana kreditnog aranžmana koja ne može odobriti takvo izuzeće obavestiće Agenta u skladu sa tim i, na zahtev Agenta, ili će delovati u skladu sa uslovima ovog ugovora i/ili bilo kojim drugim Finansijskim dokumentom kako se zahteva u skladu sa ovim Ugovorom i/ili takvim drugim Finansijskim dokumentom ili dodeliti posebno punomoćje strani koja deluje u njeno ime, na način koji nije zabranjen u skladu sa članom 181 Nemačkog građanskog zakonika (Bürgerliches Gesetzbuch) i/ili bilo kojim drugim važećim zakonima.

Odredba23.2

Uputstva

Ne dovodeći u pitanje odredbe

Klauzule 3.4

(UKEF Garancija), Agent će:

(i)

ostvarivati ili se suzdržati od ostvarivanja svakog prava, mogućnosti, ovlašćenja ili diskrecionog prava koja mu pripadaju kao Agentu u skladu sa uputstvima koje su mu dali:

(A) svi Zajmodavci, ako konkretan Finansijski dokument propisuje da je predmet podložan odluci svih Zajmodavaca; i

(B) u svim drugim slučajevima, Većinski zajmodavci; i

ii)

neće biti odgovoran za bilo koju radnju (ili propust) ako postupa (ili se suzdrži od postupanja) u skladu sa stavom (i) iznad.

Agent će biti ovlašćen od Većinskih zajmodavaca (ili, ako merodavni Finansijski dokument propisuje da je predmet podložan odluci bilo kog drugog Zajmodavca ili grupe Zajmodavca, od tog Zajmodavca ili grupe Zajmodavaca) da traži uputstva ili pojašnjenja svakog uputstva o tome da li, i na koji način, bi trebalo ostvarivati ili se suzdržati od ostvarivanja svakog prava, mogućnosti, ovlašćenja ili diskrecionog prava. Agent se može suzdržati od postupanja, osim ako i dok ne primi takva uputstva ili pojašnjenja koja je zatražio.

Osim u slučaju odluka za koje je propisano da su predmet bilo kog drugog Zajmodavca ili grupe Zajmodavaca po merodavnom Finansijskom dokumentu i osim ako nije suprotno navedeno u Finansijskom dokumentu, sva uputstva koje Većinski zajmodavci daju Agentu nadjačaće sva suprotna uputstva koje su dale bilo koje druge Strane i biće obavezujuće za sve Strane kreditnog aranžmana.

Agent se može suzdržati od postupanja u skladu sa svakim uputstvom svakog Zajmodavca ili grupe Zajmodavaca do prijema odštete i/ili osiguranja koje mu je po njegovoj slobodnoj oceni potrebno (koje može biti većeg opsega od onog sadržanog u Finansijskim dokumentima i koje može uključivati akontaciju) za sve troškove, gubitke ili odgovornosti koje može izazvati u postupanju saglasno tim uputstvima.

U nedostatku uputstava, Agent može, delujući razumno, postupati (ili se suzdržati od postupanja) onako kako smatra da je u najboljem interesu Zajmodavaca.

Agent nije ovlašćen da postupa u ime Zajmodavca (bez prethodno dobijene saglasnosti tog Zajmodavca) u bilo kom pravnom ili arbitražnom postupku koji se odnosi na bilo koji Finansijski dokument.

Odredba23.3

Dužnosti Agenta

U skladu sa stavom (e)

Klauzule 23.2

(Instrukcije), obaveze Agenta prema Finansijskim dokumentima su isključivo tehničke i administrativne prirode.

U skladu sa stavom (c) ispod, Agent će promptno proslediti Strani original ili kopiju bilo kog dokumenta koji je Agentu dostavljen za tu Stranu od bilo koje druge Strane.

Ne dovodeći u pitanje odredbe

Klauzule 21.7

(Obaveza dostavljanja primerka Potvrde o prenosu ili Ugovora o ustupanju Zajmoprimcu i NBS), gore navedeni stav (b) neće se primenjivati na bilo koju Potvrda o prenosu ili na bilo koji Ugovor o ustupanju.

Osim u slučajevima kada je Finansijskim dokumentom izričito utvrđeno suprotno, Agent nije obavezan da pregleda ili proveri primerenost, tačnost ili potpunost bilo kog dokumenta koji prosledi drugoj Strani.

Ukoliko Agent od Strane primi obaveštenje koje se odnosi na ovaj ugovor, i kojim se opisuje slučaj neispunjenja obaveza, obavezan je da promptno obavesti Strane kreditnog aranžmana.

Ukoliko Agent dođe do saznanja o neplaćanju bilo kojeg iznosa glavnice, kamate ili naknade na nepovučena sredstva koja je po ovom Ugovoru plativa prema Strani kreditnog aranžmana (izuzev Agentu ili svakom Aranžeru), obavezan je da promptno obavesti ostale Strane kreditnog aranžmana.

Agent će imati samo one dužnosti, obaveze i odgovornosti koje su jasno navedene u: (i) Finansijskim dokumentima u kojima se navodi da je strana; i (ii) UKEF Garanciji; i nikakve druge se neće podrazumevati.

Agent će obavestiti Zajmodavce i Izvoznu kreditnu agenciju UK ako sazna da je došlo do prevremene otplate ili otkaza u skladu sa

Klauzulom 8

(Prevremena otplata i otkazivanje).

Agent će promptno obavestiti Zajmodavce i Izvoznu kreditnu agenciju UK ukoliko nisu ispunjeni uslovi definisani u stavu (a)

Klauzule 5.2

(Dodatni preduslovi).

Odredba23.4

Uloga Aranžera

Izuzev ako drugačije nije izričito predviđeno u Finansijskim dokumentima, ni jedan Aranžer neće imati obaveza bilo koje vrste prema bilo kojoj Strani po osnovu ili u vezi sa bilo kojim Finansijskim dokumentom.

Odredba23.5

Bez fiducijarnih obaveza

Bilo kojim Finansijskim dokumentom Agent i svaki Aranžer ni na koji način nisu stekli svojstvo poverenika ili fiducijara bilo kog drugog lica.

Ni Agent ni svaki Aranžer zajma neće odgovarati nijednom Zajmodavcu za bilo koji iznos ili profitni element bilo kog iznosa koji je isti sam primio za svoj račun.

Odredba23.6

Poslovanje sa Zajmoprimcem

Agent i Aranžeri zajma mogu primati depozite od, davati pozajmice u novcu i uopšteno obavljati bilo koju vrstu bankarskog ili drugog poslovanja sa Zajmoprimcem.

Odredba23.7

Prava i diskreciona ovlašćenja

Agent može:

(i)

da se oslanja na bilo koju tvrdnju, obaveštenje ili dokument za koji veruje da je autentičan, tačan i odobren na primeren način;

(ii)

da pretpostavi:

(A) da je svako uputstvo koje primi od Većinskih zajmodavaca, svakog Zajmodavca ili svake grupe Zajmodavaca valjano dato u skladu s odredbama Finansijskih dokumenata; i

(B) da je svaka instrukcija primljena od Izvozne kreditne agencije UK pravovremeno data u skladu sa uslovima UKEF Garancije; i

osim ukoliko nije primio obaveštenje o opozivu, takva uputstva nisu opozvana; i

iii)

da se osloni na potvrdu svakog lica:

(A) o svakoj činjenici ili okolnosti za koju bi se opravdano moglo očekivati da je poznata tom licu; ili (B) da to lice odobrava svaki posao, transakciju, korak, radnju ili stvar,

kao na odgovarajući dokaz o tome i u slučaju u gore navedenom stavu (A) može da pretpostavi da je takva potvrda istinita i tačna.

Agent može pretpostaviti (osim ako je primio obaveštenje u suprotnom smislu u svojstvu zastupnika Zajmodavaca ili od Izvozne kreditne agencije UK u okviru UKEF Garancije) da:

(i)

nije došlo do neispunjenja obaveza (osim ukoliko ima stvarno saznanje da je nastupio slučaj neispunjenja obaveze po

Klauzuli 20.1

(Neplaćanje));

(ii)

nijedno pravo, mogućnost, ovlašćenje ili diskreciono pravo koje ima bilo koja Strana ili grupa Zajmodavaca nije iskorišćeno; i

(iii)

svako obaveštenje ili zahtev od strane Zajmoprimca (osim Zahteva za korišćenje) je realizovano u ime i uz saglasnost i znanje Zajmoprimca.

Agent može, u skladu sa instrukcijama dobijenim od Većinskih zajmodavaca, angažovati, platiti i osloniti se na savet ili usluge bilo kog advokata, računovođe, poreskog savetnika ili drugog stručnog savetnika ili stručnjaka za potrebe Zajmodavca i Izvozne kreditne agencije UK.

Ne dovodeći u pitanje gore navedeni stav (c) ili stav (e) u daljem tekstu, Agent može u bilo kom trenutku o svom trošku angažovati usluge bilo kog advokata koji će delovati kao nezavisni savetnik Agenta (i time odvojeno od svih advokata Zajmodavaca) ako Agent smatra to poželjnim.

Agent se može pouzdati u savete ili usluge svih advokata, računovođa, poreskih savetnika, procenitelja ili drugih stručnih savetnika ili stručnjaka koje je Agent dobio u skladu sa instrukcijama Većinskih zajmodavaca i neće biti odgovoran za bilo kakvu štetu, troškove ili gubitke bilo koje osobe, bilo koje umanjenje vrednosti ili odgovornosti uopšte koja bi proizašla iz takvog njegovog oslanjanja.

Agent može postupati u vezi Finansijskih dokumenata preko svog zvaničnika, zaposlenih i agenata.

Ako Finansijski dokument izričito ne propisuje drugačije, Agent može otkriti svakoj drugoj Strani svaku informaciju za koju razumno smatra da je primio kao agent po ovom Ugovoru.

Ne dovodeći u pitanje bilo koju drugu suprotnu odredbu bilo kog Finansijskih dokumenata, ni Agent ni svaki Aranžer nisu u obavezi da učine ili propuste da učine ono za šta bi opravdano mogli smatrati da predstavlja kršenje zakona ili propisa ili kršenje fiducijarne obaveze ili obavezu poverljivosti.

Ne dovodeći u pitanje bilo koju drugu suprotnu odredbu bilo kog Finansijskih dokumenata, Agent nije dužan da troši ili rizikuje vlastita sredstva ili na drugi način izazove bilo koju finansijsku odgovornost u izvršenju svojih dužnosti, obaveza ili odgovornosti ili u ostvarenju svakog prava, ovlašćenja ili diskrecionog prava ako ima osnove da veruje da mu nije razumno osigurana otplata takvih sredstava ili primerena odšteta, ili osiguranje, za takav rizik ili odgovornost.

Odredba23.8

Odgovornost za dokumentaciju

Ni Agent ni svaki Aranžer nisu odgovorni za:

adekvatnost, tačnost ili potpunost bilo koje informacije (bilo usmene ili pismene) koju dostavi Agent, svaki Aranžer, Zajmoprimac ili bilo koje drugo lice, a koja je data u vezi sa bilo kojim Finansijskim dokumentom ili transakcijom koja je predmet Finansijskih dokumenata ili svim drugim sklopljenim, sačinjenim ili potpisanim ugovorima, dogovorima ili dokumentima u očekivanju, po ili u vezi sa bilo kojim Finansijskim dokumentom osim informacije koju sami generišu; ili

zakonitost, važenje, pravno dejstvo, primerenost ili izvršnost bilo kog Finansijskih dokumenata ili bilo kog drugog ugovora, aranžmana ili dokumenta zaključenog, sačinjenog ili potpisanog u očekivanju ili u vezi sa bilo kojim Finansijskim dokumentom; ili

svako utvrđivanje o tome da li svaka informacija koja je data ili će biti data bilo kojoj Strani kreditnog aranžmana predstavlja javnu informaciju čija upotreba može biti regulisana ili zabranjena merodavnim zakonom ili propisom vezanim za trgovinu povlašćenim informacijama ili na drugi način.

Odredba23.9

Bez obaveze nadzora

Agent neće biti u obavezi da ispituje:

da li je nastupio ili nije nastupio bilo koji Slučaj neispunjenja obaveze;

izvršenje, neispunjenje obaveze ili svako kršenje od strane bilo koje Strane njenih obaveza po svakom od Finansijskih dokumenata; ili

da li je nastupio bilo koji drugi slučaj naveden u bilo kom Finansijskom dokumentu.

Odredba23.10

Izuzeće od odgovornosti

Bez ograničavanja stava (b) u daljem tekstu (i ne dovodeći u pitanje odredbe bilo kog Finansijskih dokumenata, isključujući ili ograničavajući odgovornost Agenta), Agent neće biti odgovoran za:

(i)

štetu, troškove ili gubitke bilo kog lica, umanjenje vrednosti ili odgovornost koja proizlazi iz preduzimanja ili nepreduzimanja bilo koje radnje prema i u vezi sa bilo kojim Finansijskim dokumentom, osim ako nisu direktno uzrokovane grubom nepažnjom ili namernom zloupotrebom;

(ii)

ostvarivanje ili neostvarivanje prava, ovlašćenja ili diskrecionog prava koje mu je dato prema ili u vezi sa bilo kojim Finansijskim dokumentom ili bilo kojim drugim ugovorom, aranžmanom ili dokumentom sklopljenim, učinjenim ili potpisanim u očekivanju, prema ili u vezi sa bilo kojim Finansijskim dokumentom, osim iz razloga njegove grube nepažnje ili namerne zloupotrebe; ili

(iii)

ne dovodeći u pitanje opšte odredbe stavova (i) i (ii), štetu, troškove ili gubitke bilo kog lica, umanjenje vrednosti ili svaku odgovornost (ali ne uključujući tužbu zbog prevare Agenta) koja proizlazi iz:

(A) bilo koje radnje, događaja ili okolnosti koja opravdano nije pod njegovom kontrolom; ili

(B) opštih rizika ulaganja ili držanja imovine u bilo kojoj nadležnosti,

uključujući (ali u svakom slučaju ne ograničavajući se na) svaku štetu, troškove ili gubitke bilo kog lica, svako umanjenje vrednosti ili svaku odgovornost koja proizlazi iz: nacionalizacije, eksproprijacije ili drugih radnji države; svakog propisa, valutnog ograničenja, devalvacije ili fluktuacije; tržišnih uslova koji utiču na izvršenje ili namirenje transakcija ili na vrednost imovine (uključujući svaki slučaj Prekida); kvara, greške ili neispravnosti svakog prevoza treće strane, telekomunikacija, kompjuterskih usluga ili sistema;

prirodnih nepogoda ili više sile; rata, terorizma, pobune ili revolucije;

ili štrajkova ili industrijskih akcija.

Nijedna Strana (osim Agenta) ne može pokrenuti bilo koji postupak protiv bilo kog službenika, zaposlenog ili predstavnika Agenta u pogledu svakog zahteva koji može imati prema Agentu ili po pitanju bilo kog preduzimanja ili nepreduzimanja radnje od strane tog službenika, zaposlenog ili predstavnika u vezi sa Finansijskim dokumentom i bilo koji službenik, zaposleni ili predstavnik Agenta može se oslanjati na stav (b) u skladu sa Klauzulom 1.4 (Prava treće strane) i odredbe Zakona o trećoj strani.

Agent neće biti odgovoran za bilo koje kašnjenje (ili bilo koju povezanu posledicu) u vezi sa uplatom na račun iznosa koji po Finansijskim dokumentima treba da plati Agent, ako je Agent preduzeo sve neophodne korake čim je to moguće kako bi ispoštovao propise ili operativne procedure bilo kog priznatog kliring sistema ili sistema poravnanja koje Agent koristi u tu svrhu.

Ništa u ovom Ugovoru ne obavezuje Agenta ili svakog Aranžera da izvrši:

(i)

bilo koju proveru „upoznaj svog Klijenta” ili druge provere u odnosu na bilo koje lice; ili

(ii)

bilo koju proveru u meri u kojoj bilo koja transakcija iz ovog ugovora može biti nezakonita za bilo kog Zajmodavca,

za račun bilo kog Zajmodavca i svaki Zajmodavac potvrđuje Agentu i svakom Aranžeru da je isključivo odgovoran za one provere koje je obavezan da sprovede i da se ne može pouzdati u tvrdnje po pitanju tih provera koje je sproveo Agent ili svaki Aranžer.

Ne dovodeći u pitanje bilo koju odredbu Finansijskih dokumenata kojom se isključuje ili ograničava odgovornost Agenta, odgovornost Agenta koja proističe iz ili je u vezi sa bilo kojim Finansijskim dokumentom biće ograničena na iznos stvarno pretrpljenog gubitka (kako je utvrđeno pozivanjem na dan neispunjenja obaveze Agenta ili, ako je kasnije, na dan na koji nastaje gubitak zbog takvog neispunjenja obaveze). Ni u kom slučaju Agent neće biti odgovoran za bilo koji gubitak profita, goodwill-a, reputacije, poslovnih prilika ili očekivanih ušteda ili za posebnu, kaznenu, indirektnu ili posledičnu štetu, bez obzira da li je Agent bio obavešten o mogućnosti takvih gubitaka ili šteta.

Odredba23.11

Refundiranje troškova Zajmodavca prema Agentu

U skladu sa stavom (d)

Klauzule 23.7

(Prava i diskreciona prava), svaki Zajmodavac će (srazmerno svom udelu u Ukupnim angažovanim sredstvima, ili, ukoliko su u tom trenutku Ukupna angažovana sredstva jednaka nuli, svom udelu u Ukupnim angažovanim sredstvima neposredno pre njihove redukcije na nulu) nadoknaditi Agentu, u roku od tri (3) Radna dana po zahtevu, svaki iznos troškova, gubitka ili obaveza nastalih za Agenta (osim zbog Agentovog teškog nehata ili namernog kršenja dužnosti) (ili u slučaju bilo kog troška, gubitka i odgovornosti u skladu sa

Klauzulom 26.12

(Prekid rada sistema plaćanja, itd.), ne dovodeći u pitanje bilo koju drugu kategoriju ali ne uključujući bilo koju tužbu za prevaru Agenta) postupajući kao Agent prema Finansijskim dokumentima (osim ako je Zajmoprimac isplatio Agenta prema Finansijski dokument).

Stav (a) se ne primenjuje na bilo koje troškove, gubitke i odgovornosti koje je snosio Agent po pitanju:

(i)

propusta Zajmoprimca da izvrši plaćanje u skladu sa

Klauzulom 11.3

(Agencijska naknada);

(ii)

plaćanja Agenta datih u stavu (d)

Klauzule 23.7

(Prava i diskreciona prava); i

(iii)

upravljanje vremenom.

Zajmoprimac će odmah na zahtev obeštetiti Zajmodavca na ime plaćanja koje je Zajmodavac izvršio prema Agentu u skladu sa stavom (a) iznad.

Odredba23.12

Ostavka Agenta

Uz prethodno odobrenje Izvozne kreditne agencije UK, Agent može podneti ostavku i imenovati jednu od svojih Filijala kao pravnog sledbenika tako što će dati obaveštenje Zajmodavcima i Zajmoprimcu.

Ne dovodeći u pitanje gore navedeni stav (a), Agent može podneti ostavku, uz prethodno pisano odobrenje Izvozne kreditne agencije UK, uz otkazni period od trideset (30) dana koji daje Zajmodavcima i Zajmoprimca, u kom slučaju Većinski zajmodavci (nakon konsultacija sa Zajmoprimcem) mogu imenovati sledbenika Agenta.

Agent koji se povlači će, za svoj sopstveni račun, staviti na raspolaganje Agentu sledbeniku onu dokumentaciju i evidencije i obezbediti pomoć, koje Agent sledbenik može razumno zahtevati za svrhe izvršenja svojih funkcija, kao Agenta po osnovu Finansijskih dokumenata. Zajmoprimac će u roku od tri (3) Radna dana od zahteva, nadoknaditi Agentu koji se povlači iznos svih troškova i izdataka (uključujući i pravne takse) propisno nastale prilikom stavljanja na raspolaganje takve dokumentacije i evidencije i obezbeđivanja takve pomoći.

Agentovo obaveštenje o otkazu stiče pravno dejstvo tek po imenovanju sledbenika.

Po imenovanju sledbenika, Agent koji se povlači biće razrešen bilo kakve naknadne obaveze u pogledu Finansijskih dokumenata (osim obaveza definisanih gore navedenim stavom (c)), ali će mu ostati pravo u smislu

Klauzule 14.3

(Refundiranje troškova Agentu) i ove

Klauzule 23

(i sve agencijske naknade za račun Agenta koji se povlači više se neće obračunavati (i biće plative) na taj datum). Njegov sledbenik i svaka druga Strana imaće ista međusobna prava i obaveze kakve bi imali da je taj sledbenik prvobitna Strana.

Nakon konsultacija sa Zajmoprimcem, Većinski zajmodavci mogu, putem obaveštenja Agentu, zahtevati da Agent da ostavku u skladu sa gore navedenim stavom (b). U tom slučaju, Agent će dati ostavku u skladu sa gore navedenim stavom (b).

Agent će se povući sa funkcije u skladu sa gore navedenim stavom (b) (i, u meri u kojoj je primenjivo, uložiti razumne napore da imenuje pravnog sledbenika Agenta u skladu sa gore navedenim stavom (b)) ako na datum ili nakon datuma koji nastupa tri (3) meseca pre najranijeg Datuma za primenu FATCA vezano za bilo koje plaćanje prema Agentu po osnovu Finansijskih dokumenata:

(i)

Agent ne odgovori na zahtev po osnovu

Klauzule 12.7

(Informacije FATCA) i Zajmoprimac ili Zajmodavac opravdano veruju da Agent neće biti (ili će prestati da bude) Strana izuzeta od FATCA na ili nakon Datuma za primenu FATCA;

(ii)

Informacije dostavljene od strane Agenta u skladu sa

Klauzulom 12.7

(Informacije FATCA) ukazuju da Agent neće biti (ili će prestati da bude) Strana izuzeta od FATCA na ili nakon Datuma za primenu FATCA; ili

(iii)

Agent obavesti Zajmoprimca i Zajmodavce da Agent neće biti (ili će prestati da bude) Strana izuzeta od FATCA na ili nakon Datuma za primenu FATCA,

i (u svakom slučaju) Zajmoprimac ili Zajmodavac razumno veruju da će biti potrebno da Strana izvrši Odbitak FATCA što ne bi bilo potrebno da je Agent Strana izuzeta od FATCA, i Zajmoprimac ili taj Zajmodavac, putem obaveštenja dostavljenog Agentu, zahtevaju da se isti povuče sa te funkcije. Nije potrebno odobrenje Zajmoprimca za ustupanje ili prenos prava i/ili obaveza Agenta.

Odredba23.13

Zamena Agenta

Nakon savetovanja sa Zajmoprimcem i odobrenja Izvozne kreditne agencije UK, Većinski zajmodavci mogu, davanjem prethodnog obaveštenja od 30 dana Agentu (ili u svako doba kada je Agent Kompromitovani agent, davanjem obaveštenja u kraćem roku određenom od strane Većinskih zajmodavaca) zameniti Agenta imenovanjem Agenta sledbenika.

Agent koji se povlači će (o svom trošku ako je Kompromitovani agent, a inače o trošku Zajmodavaca) učiniti dostupnim Agentu sledbeniku takve dokumente i evidenciju i dati takvu podršku kakvu Agent sledbenik može razumno zatražiti za potrebe izvršenja svojih funkcija kao Agenta po Finansijskim dokumentima.

Imenovanje Agenta sledbenika će imati učinak od dana određenog u obaveštenju koju su Većinski zajmodavci dali Agentu koji se povlači, pod uslovom da se potpišu ona dokumenta koje Izvozna kreditna agencija UK može razumno tražiti kako bi se reflektovala zamena sledbenika kao korisnika za potrebe UKEF Garancije. Od tog datuma će Agent koji se povlači biti oslobođen svih daljih obaveza u pogledu Finansijskih dokumenata (osim njegovih obaveza iz gore navedenog stava (b)), ali će zadržati pravo na koristi iz

Klauzule 14.3

(Refundiranje troškova Agentu) i ove

Klauzule 23

(i sve agencijske naknade za račun Agenta koji se povlači prestaće da se obračunavaju od (i biće plative) tog dana).

Svaki Agent sledbenik i sve ostale Strane će imati ista međusobna prava i obaveze koje bi imale da je takav sledbenik bio izvorna Stranka.

Odredba23.14

Poverljivost

Kada postupa u svojstvu Agenta Strane kreditnog aranžmana, smatraće se da Agent postupa preko svog sektora, koji će biti smatran odvojenim subjektom od bilo kog drugog sektora ili službe.

Ukoliko informacija bude primljena od drugog sektora ili službe Agenta, ona može biti tretirana kao poverljiva za taj sektor ili službu i smatraće se da Agent nema saznanje o istoj.

Odredba23.15

Odnos sa Zajmodavcima

U skladu sa

Klauzulom 21.9

(Proporcionalno plaćanje kamate), Agent može tretirati svakog Zajmodavca kao Zajmodavca ovlašćenog za plaćanja po osnovu ovog ugovora koji postupa preko svoje Kancelarije Aranžmana (umesto glavne kancelarije Agenta, uz obaveštavanja Strana kreditnog aranžmana s vremena na vreme):

(i)

koji ima pravo na ili je odgovoran za svako dospelo plaćanje po Finansijskim dokumentima na taj dan; i

(ii)

koji ima pravo da primi i postupa po svakom obaveštenju, zahtevu, dokumentu ili komunikaciji ili da donese odluku ili tvrdnju prema Finansijskom dokumentu sastavljenom ili dostavljenom na taj dan,

osim ako je najmanje pet (5) Radnih dana unapred primio prethodno obaveštenje od tog Zajmodavca u suprotnom smislu a u skladu sa uslovima ovog ugovora.

Svaki Zajmodavac može davanjem obaveštenja Agentu imenovati lice koje će u njegovo ime primati sva obaveštenja, poruke, podatke i dokumenta koji se moraju predati ili poslati tom Zajmodavcu u skladu sa Finansijskim dokumentima. To obaveštenje sadržaće adrese i (i tamo gde je prema

Klauzuli 28.5

(Elektronska komunikacija) dozvoljena komunikacija elektronskom poštom ili drugim elektronskim sredstvima), adresu elektronske pošte i/ili druge informacije potrebne kako bi se prenele informacije ovim putem (a u svakom slučaju navesti sektor ili službenika, ukoliko ih ima, kojima će komunikacija biti upućena) a isto će se smatrati za Zajmodavčevo obaveštenje o zamenskoj adresi, sektoru i licu sa posebnim ovlašćenjima u smislu

Klauzule 28.2

(Kontakt podaci) i stava (a)(i)

Klauzule 28.5

(Elektronska komunikacija) i Agent će biti ovlašćen da to lice smatra za ovlašćeno za prijem svih obaveštenja, saopštenja, podataka i dokumenata, kao da je to lice Zajmodavac.

Odredba23.16

Ocena kredita od strane Zajmodavaca

Bez uticaja na odgovornost Zajmoprimca za informaciju koju dostavi ili koja bude dostavljena u njegovo ime u vezi sa bilo kojim Finansijskim dokumentom, svaki Zajmodavac potvrđuje Agentu i svakom Aranžeru da je bio i da će i dalje biti jedini odgovoran za svoju sopstvenu nezavisnu ocenu i ispitivanje svih rizika koji nastanu po osnovu ili u vezi sa bilo kojim Finansijskim dokumentom, uključujući ali ne ograničavajući se na:

finansijsko stanje, status i prirodu Zajmoprimca, svaku od njegovih državnih institucija i Kupca;

zakonitost, važenje, pravno dejstvo, primerenost ili izvršnost bilo kog Finansijskih dokumenata ili drugog ugovora, aranžmana ili dokumenta koji je zaključen, sačinjen ili potpisan u očekivanju ili u vezi sa bilo kojim Dokumentom o transakciji;

da li taj Zajmodavac ima sredstvo pravne zaštite i prirodu i domet tog sredstva pravne zaštite protiv bilo koje Strane ili bilo kog odgovarajućeg dela imovine po osnovu ili u vezi sa bilo kojim Finansijskim dokumentom, transakcijom koja je predmet Finansijskih dokumenata, ili bilo kog drugog ugovora, aranžmana ili dokumenta koji zaključi, sačini ili potpiše u očekivanju, po osnovu ili u vezi sa bilo kojim Finansijskim dokumentom; i

Primerenost, tačnost ili potpunost bilo koje informacije koju obezbedi Agent, bilo koja Strana i bilo koje drugo lice po osnovu ili u vezi sa bilo kojim Finansijskim dokumentom, transakcijom koja je predmet Finansijskih dokumenata ili bilo kog drugog ugovora, aranžmana ili dokumenta koji zaključi, sačini ili potpiše u očekivanju, po osnovu ili u vezi sa bilo kojim Finansijskim dokumentom.

Odredba23.17

Agentovo vreme

Bilo koji iznos plativ Agentu prema

Klauzuli 14.3

(Refundiranje troškova Agentu),

Klauzuli 16

(Troškovi i izdaci) i

Klauzuli 23.9

(Bez obaveze nadzora) obuhvatiće troškove korišćenja vremena Agenta ili drugih resursa do iznosa od EUR 5.000 i biće obračunato na osnovu razumne dnevne tarife ili po satu o čemu će Agent obavestiti Zajmoprimca i Zajmodavce, i to je povrh bilo koje naknade koja je plaćena ili plativa Agentu prema

Klauzuli 11

(Naknade).

Odredba23.18

Odbitak od iznosa plativih od strane Agenta

Ukoliko bilo koja Strana duguje neki iznos Agentu po osnovu Finansijskih dokumenata, Agent može, pošto da obaveštenje toj Strani, oduzeti sumu koja ne premašuje to dugovanje od bilo kog plaćanja prema toj Strani koje bi Agent inače bio obavezan da izvrši po osnovu Finansijskih dokumenata i iskoristi takvu sumu za ili prema naknadi iznosa koji se duguje. U pogledu Finansijskih dokumenata, smatraće se kao da je ta strana primila svaki iznos oduzet na taj način.

Odredba23.19

Greškom plaćeni iznosi

Izuzev za svaku uplatu za UKEF, ukoliko Agent plati iznos drugoj Strani i, u roku od pet (5) Radnih dana od datuma uplate, Agent obavesti tu Stranu da je takva uplata bila Pogrešno plaćanje, Strana kojoj je Agent uplatio taj iznos će na zahtev vratiti takav iznos Agentu zajedno sa kamatom od datuma uplate do datuma prijema uplate Agenta, koju Agent obračunava tako da odražava njegov trošak sredstava.

Ni:

(i)

obaveze svake Strane prema Agentu; niti

(ii)

pravni lekovi Agenta,

(bez obzira da proističu iz ove

Klauzule 23.19

ili na drugi način) koja se odnose na Pogrešno plaćanje, neće biti ugroženo bilo kojom radnjom, propuštanjem, načinom ili stvari koja bi, da nije ovog stava (b), smanjila, oslobodila ili ugrozila svaku takvu obavezu ili pravni lek (bez obzira da li je poznat Agentu ili bilo kojoj drugoj Strani).

Sva plaćanja koja Strana treba da izvrši Agentu (bez obzira da li su izvršena u skladu sa ovom

Klauzulom 23.19

ili na drugi način), koja se odnose na Pogrešno plaćanje, biće obračunata i izvršena bez (i bez ikakvog odbitka za) poravnanja ili protiv-potraživanja.

U ovom Ugovoru, „Pogrešno plaćanje” znači plaćanje iznosa od strane Agenta drugoj Strani (osim UKEF) za koje Agent utvrdi (po sopstvenom nahođenju) da je izvršeno greškom.

24.

POSLOVANJE STRANA KREDITNOG ARANŽMANA

Nijedna odredba ovog ugovora neće:

(a)

uticati na pravo bilo koje Strane kreditnog aranžmana da uredi svoje poslovanje (u pogledu Poreza ili ostalog) na bilo koji način koji smatra primerenim;

(b)

obavezati bilo koju Stranu kreditnog aranžmana da preispita ili zahteva bilo koji kredit, olakšicu, opraštanje duga ili otplatu na koje može imati pravo ili preispita obim, redosled ili vrstu bilo kog zahteva; ili

(c)

obavezati bilo koju Stranu kreditnog aranžmana da obelodani bilo koju informaciju koja se tiče njenog poslovanja (poreskog ili drugog) ili bilo kojih obračuna koji se odnose na Poreze.

25.Čl. 25.1–25.5

PRERASPODELA MEĐU STRANAMA KREDITNOG ARANŽMANA

Odredba25.1

Plaćanja Stranama kreditnog aranžmana

Ako Strana kreditnog aranžmana (u daljem tekstu: „Naplaćena Strana kreditnog aranžmana”) primi ili naplati bilo koji iznos od Zajmoprimca u skladu sa

Klauzulom 26

(Mehanizam plaćanja) (u daljem tekstu: „Naplaćeni iznos”) i rasporedi taj iznos na plaćanje dospelo po osnovu Finansijskih dokumenata, tada će:

Naplaćena Strana kreditnog aranžmana u roku od tri (3) Radna dana obavestiti Agenta o detaljima prijema te naplate;

Agent utvrditi da li primanje ili naplata Naplaćene Strane kreditnog aranžmana prelazi iznos koji bi Strani kreditnog aranžmana bio plaćen da je primanje ili naplata izvršena ili sprovedena od strane Agenta ili raspoređena u skladu sa

Klauzulom 26

(Mehanizam plaćanja), ne uzimajući u obzir bilo kakav iznos Poreza koji bi bio obračunat Agentu u vezi sa primanjem, naplatom ili raspodelom; i

Naplaćena Strana kreditnog aranžmana će u roku od tri (3) Radna dana od zahteva Agenta platiti Agentu iznos (u daljem tekstu: „Zajedničko plaćanje”) jednak tom primitku ili umanjen za bilo koji iznos za koji Agent utvrdi da može biti zadržan od Naplaćene Strane kreditnog aranžmana kao njen udeo u bilo kom plaćanju koje se vrši u skladu sa

Klauzulom 26.7

(Delimična plaćanja).

Odredba25.2

Preraspodela plaćanja

Agent će tretirati Zajedničko plaćanje kao da je izvršeno od strane Zajmoprimca i raspodeliće ga Stranama kreditnog aranžmana (osim Naplaćenoj Strani kreditnog aranžmana) („Zajedničko plaćanje”) u skladu sa

Klauzulom 26.7

(Delimična plaćanja) prema obavezama Zajmoprimca za Zajedničkom plaćanju.

Odredba25.3

Prava Naplaćene Strane kreditnog aranžmana

Pošto Agent po

Klauzuli 25.2

(Preraspodela plaćanja) preraspodeli plaćanje koje je Zajmoprimac izvršio prema Naplaćenoj Strani kreditnog aranžmana u međusobnom odnosu Zajmoprimca i Naplaćene Strane kreditnog aranžmana, smatraće se da Zajmoprimac nije platio deo Naplaćenog iznosa koji je jednak Zajedničkom plaćanju.

Odredba25.4

Preinačenje preraspodele

Ako bilo koji deo Zajedničkog plaćanja kao primanja ili povraćaja od strane Naplaćene Strane kreditnog aranžmana ista postane obavezna da ga vrati, pa to i izvrši, tada će:

svaka Strana kreditnog aranžmana koja je učestvovala u preraspodeli, po prijemu Agentovog zahteva, platiti Agentu za račun Naplaćene Strane kreditnog aranžmana iznos koji je jednak odgovarajućem učešću u Zajedničkom plaćanju (zajedno sa iznosom koji je neophodan da se refundira Naplaćena Strana kreditnog aranžmana za svoj srazmerni udeo u bilo kom iznosu kamate na Zajedničko plaćanje koji je ona obavezna da plati) (u

daljem tekstu: „Redistribuirani iznos”); i

U međusobnom odnosu Zajmoprimca i svake Strane koja učestvuje u raspodeli, smatraće se kao da Zajmoprimac nije platio iznos jednak odgovarajućem Redistribuiranom iznosu.

Odredba25.5

Izuzeci

Klauzula 25

neće se primenjivati u onoj meri u kojoj Naplaćena Strana kreditnog aranžmana ne bi, po izvršenju bilo kog plaćanja u skladu sa ovom Klauzulom, imala validno i izvršivo potraživanje u odnosu na Zajmoprimca.

Naplaćena Strana kreditnog aranžmana nije obavezna da sa bilo kojom drugom Stranom kreditnog aranžmana raspodeli bilo koji iznos koji primi ili naplati po osnovu sudskog ili arbitražnog postupka, ako:

(i)

je obavestila drugu Stranu kreditnog aranžmana o pravnom ili arbitražnom postupku; i

(ii)

je ta druga Strana kreditnog aranžmana imala priliku da učestvuje u tom pravnom ili arbitražnom postupku ali nije tako učinila nakon što je to postalo razumno izvodljivo po prijemu obaveštenja, a nije pokrenula odvojeni pravni ili arbitražni postupak.

ODELjAK 10

UPRAVLJANJE

26.Čl. 26.1–26.12

MEHANIZMI PLAĆANJA

Odredba26.1

Plaćanje Agentu

Na svaki datum kada je Zajmoprimac ili Zajmodavac obavezan da izvrši plaćanje po Finansijskom dokumentu, Zajmoprimac ili Zajmodavac će isto staviti na raspolaganje Agentu (osim ako nije drugačije naznačeno u Finansijskom dokumentu) u vrednosti na datum dospeća u ono vreme i u onim sredstvima za koje Agent utvrdi da su uobičajeni u momentu izmirenja transakcije u relevantnoj valuti u mestu plaćanja.

Plaćanje će biti izvršeno na račun u glavnom finansijskom centru u zemlji te valute (ili ako je u pitanju evro, u glavnom finansijskom centru u Zemlji članici ili Londonu, koju naznači Agent) kod banke koju Agent, u svakom slučaju, naznači.

Odredba26.2

Raspodela od strane Agenta

Svako plaćanje koje Agent primi po Dokumentima o finansiranju za drugu Stranu Agent će, u skladu sa

Klauzulom 26.4

(Raspodela Zajmoprimcu) i

Klauzulom 26.5

(Povraćaj plaćenog iznosa i plaćanje unapred) čim bude izvodljivo po prijemu, staviti na raspolaganje Strani koja je ovlašćena da primi plaćanja u skladu sa ovim Ugovorom (u slučaju Zajmodavca, za račun njegove Kancelarije kreditnog aranžmana), u korist računa koji ta Strana naznači u obaveštenju Agentu datom najkasnije pet (5) Radnih dana ranije kod banke koju Strana naznači u glavnom finansijskom centru u zemlji te valute (ili ako je u pitanju evro, u glavnom finansijskom centru u Zemlji članici ili Londonu, koju naznači Agent) kod banke koju Agent, u svakom slučaju, naznači.

Odredba26.3

Raspodela Korišćenja sredstava

Zajmoprimac neopozivo i bezuslovno ovlašćuje i upućuje Agenta da uplati sredstva bilo kog Kredita Zajmoprimcu koji će mu biti dodeljen na osnovu Zahteva za korišćenje:

(i)

po Zahtevu za nadoknadu, Zajmoprimcu; i

(ii)

po Zahtevu za isplatu, Izvozniku.

Svaka uplata iz stava (a) iznad vršiće se na takav bankovni račun u banci u glavnom finansijskom centru Države članice ili u Londonu, kako je Agentu dostavio Zajmoprimac, Izvoznik ili Izvozna kreditna agencija UK (po potrebi).

Odredba26.4

Raspodele Zajmoprimcu

Agent može (uz saglasnost Zajmoprimca ili u skladu sa

Klauzulom 27

(Poravnanje), da primeni bilo koji iznos koji je primio za Zajmoprimca u svrhu plaćanja (na datum i u valuti i sredstvima prijema) bilo kog iznosa koji Zajmoprimac duguje po osnovu Finansijskih dokumenata ili za kupovinu ili za svrhu kupovine bilo kog iznosa u bilo kojoj valuti koja će biti primenjena na taj način.

Odredba26.5

Povraćaj plaćenog iznosa i plaćanje unapred

Kada neki iznos treba da se plati Agentu po osnovu Finansijskih dokumenata za neku drugu Stranu, Agent nije dužan da plati taj iznos toj drugoj Strani (ili da zaključi ili izvrši bilo kakav povezani valutni ugovor) dok ne bude u mogućnosti da utvrdi sa sigurnošću da je stvarno i primio taj iznos.

Osim ako se primenjuje stav (c) u daljem tekstu, ako Agent plati iznos drugoj Strani a dokaže se da je to bio slučaj kada Agent nije stvarno primio taj iznos, onda će Strana kojoj je Agent taj iznos (ili sredstva dobijena iz bilo kog povezanog ugovora o razmeni) platio na zahtev refundirati isti Agentu zajedno sa kamatom na taj iznos od datuma plaćanja do datuma prijema od Agenta, prema Agentovom obračunu u koji će biti uključeni njegovi troškovi novčanih sredstava.

Ukoliko je agent spreman da stavi na raspolaganje sredstva na račun Zajmoprimca pre nego što od Zajmodavaca primi ta sredstva, ako i u meri u kojoj Agent stavi sredstva na raspolaganje ali potom ne primi ista sredstva od Zajmoprimca koja je on uplatio Zajmoprimcu:

(i)

Zajmoprimac će na zahtev refundirati taj iznos Agentu; i

(ii)

Zajmodavac čija sredstva su trebala da budu stavljena na raspolaganje ili ukoliko je Zajmodavac propustio to da uradi, Zajmoprimac će na zahtev isplatiti dati iznos Agentu (kako je potvrđeno od strane Agenta) čime će se Agent obeštetiti za sve troškove finansiranja koje je snosio kao rezultat isplate date sume pre prijema sredstva od strane Zajmodavca.

Odredba26.6

Kompromitovani Agent

Ako u bilo kom trenutku Agent postane Kompromitovani agent, Zajmoprimac ili Zajmodavac koji je dužan da izvrši plaćanje Agentu prema Finansijskim dokumentima u skladu sa

Klauzulom 26.1

(Plaćanje Agentu) može umesto toga platiti direktno traženom primaocu (primaocima).

Strana koja je izvršila plaćanje u skladu sa ovom

Klauzulom 26.6

biće oslobođena relevantne obaveze plaćanja prema Finansijskim dokumentima.

Odredba26.7

Delimično plaćanje

Ako Agent primi plaćanje koje je nedovoljno da se izmire svi iznosi koji su u tom momentu plativi i dospeli od strane Zajmoprimca po osnovu Finansijskih dokumenata, Agent će primeniti to plaćanje na obaveze Zajmoprimca po Finansijskom dokumentu sledećim redosledom:

(i)

dospeo ali neplaćeni iznos po

Klauzuli 16.3

(Troškovi sprovođenja);

(ii)

dospeo ali neplaćeni iznos po

Klauzuli 9.4

(Zatezna kamata) u smislu iznosa datih u stavovima (iii), (iv) i (v) u daljem tekstu tim redosledom, ali samo do iznosa koji bi dospeo da je taj iznos obračunat primenom kamatne stope umesto Zatezne kamate;

(iii)

dospeo ali neplaćeni iznos po

Klauzuli 9.2

(Plaćanje kamate) i neplaćeni iznos koji bi dospevao prema

Klauzuli 9.2

(Plaćanje kamate) ali koji je dospeo u skladu sa Klauzulom 8.1 (Nezakonitost), Klauzulom 8.2 (Materijalna promena Ugovora o izvozu), Klauzulom 8.4 (Incidenti u oblasti životne sredine i socijalnih pitanja) ili Klauzulom 20.14 (Ubrzavanje);

(iv)

dospeo ali neplaćeni iznos po

Klauzuli 13.1

(Povećani troškovi);

(v)

dospeo ali neplaćeni iznos po

Klauzuli 7

(Otplata) i neplaćeni iznos koji bi dospeo prema

Klauzuli 7

(Otplata) ali koji je dospeo u skladu sa Klauzulom 8.1 (Nezakonitost), Klauzulom 8.2 (Materijalna promena Ugovora o izvozu), Klauzulom 8.4 (Incidenti u oblasti životne sredine i socijalnih pitanja) ili Klauzulom 20.14 (Ubrzavanje);

(vi)

preostali iznosi dospeli ali neplaćeni prema

Klauzuli 9.4

(Zatezna kamata) po pitanju iznosa definisanih u stavovima (iii), (iv) i (v) koji nisu primenjeni na stav (ii);

(vii)

dospeo ali neplaćeni iznos po

Klauzuli 10.4

(Naknada za odstupanje od ugovorenih rokova); i

(viii)

bilo koji drugi iznos dospeo ali neplaćen prema ovom Ugovoru.

Agent će, ako mu to naloži Zajmodavac, izmeniti redosled predviđen u gore navedenom stavu (a).

Gore navedeni stavovi (a) i (b) imaju prvenstvo nad bilo kojom aproprijacijom uplata koje Zajmoprimac može imati.

Odredba26.8

Bez poravnanja od strane Zajmoprimca

Sva plaćanja koja treba da izvrši Zajmoprimac po osnovu Finansijskim dokumentima biće obračunata i izvršena bez (i oslobođena i čista od svakog odbitka) poravnanja ili protivpotraživanja.

Odredba26.9

Radni dan

Svako plaćanje po osnovu Finansijskih dokumenata koje dospeva na izvršenje na dan koji nije Radni dan biće izvršeno sledećeg Radnog dana istog kalendarskog meseca (ukoliko postoji) ili prethodnog Radnog dana (ukoliko ne postoji).

Tokom bilo kog produžetka roka dospeća za plaćanje bilo koje glavnice ili Neplaćene sume po osnovu ovog ugovora, kamata je plativa na glavnicu ili Neplaćen iznos po stopi plativoj na prvobitni datum dospeća.

Odredba26.10

Valuta računa

U skladu sa stavovima (b) i (c) u daljem tekstu, Valuta kreditnog aranžmana je valuta obračuna i plaćanja svakog iznosa koji dospeva i koji Zajmoprimac duguje po osnovu bilo kog Finansijskih dokumenata.

Svako plaćanje u pogledu troškova, izdataka ili Poreza biće izvršeno u valuti u kojoj su troškovi, izdaci i Porezi nastali.

Bilo koji iznos iskazan i plativ u valuti koja nije Valuta kreditnog aranžmana biće plativ u toj drugoj valuti.

Odredba26.11

Promena valute

Osim ako nije zakonom zabranjeno, ukoliko centralna banka bilo koje zemlje priznaje više od jedne valute ili valutne jedinice istovremeno kao zakonsku valutu te zemlje, onda će:

(i)

svako pozivanje u Finansijskim dokumentima na, i sve obaveze nastale po Finansijskim dokumentima u valuti te države biti preračunate ili plaćene u valutu ili valutnu jedinicu te zemlje koju naznači Agent (nakon konsultacija sa Zajmoprimcem); i

(ii)

svaki preračun iz jedne valute ili valutne jedinice u drugu biće po zvaničnom valutnom kursu centralne banke za konverziju te valute ili valutne jedinice u drugu, zaokruženo na viši ili niži iznos od strane Agenta (koji postupa sa dužnom pažnjom).

Ukoliko dođe do promene bilo koje valute u zemlji, ovaj ugovor će, u meri u kojoj to Agent odredi kao neophodno (postupajući sa dužnom pažnjom i u konsultacijama sa Zajmoprimcem) biti izmenjen radi usaglašavanja sa opšte prihvaćenim pravilima i tržišnom praksom na Relevantnom tržištu kako bi odražavao promenu valute.

Odredba26.12

Prekid rada platnih sistema, itd.

Ako bilo koji Agent utvrdi (po vlastitoj diskreciji) da je došlo do Prekida rada ili ako Zajmoprimac obavesti Agenta da je došlo do Prekida rada:

Agent može, i to će i učiniti ako Zajmoprimac to od njega traži, da se konsultuje sa Zajmoprimcem radi dogovora o promenama rada ili upravljanju Kreditnim aranžmanom koje Agent smatra potrebnim u datim okolnostima;

Agent nije dužan da se konsultuje sa Zajmoprimcem u vezi sa bilo kakvim promenama pomenutim u gore navedenom stavu (a) ako, po njegovom mišljenju, to nije izvodljivo u datim okolnostima i, u svakom slučaju, nema obavezu da se saglasi sa tim promenama;

Agent može da se konsultuje sa Stranama kreditnog aranžmana u vezi sa bilo kojom promenom iz stava (a), ali nije u obavezi da to uradi, ako, po njegovom mišljenju, to nije izvodljivo u datim okolnostima;

svaka takva promena dogovorena između Agenta i Zajmoprimca (bez obzira da li je konačno utvrđeno da je došlo do Prekida rada) biće obavezujuća za sve Strane kao amandman na (ili u zavisnosti od slučaja odricanja od) uslove Finansijskih dokumenata, ne dovodeći u pitanje odredbe

Klauzule 32

(Amandmani i odricanje);

Agent neće biti odgovoran ni za kakve naknade štete, troškova ili gubitaka bilo kom licu, umanjenje vrednosti ili bilo kakvu odgovornost (nepažnju, grubu nepažnju ili bilo koju drugu kategoriju odgovornosti, ali ne uključujući tužbe zbog prevare Agenta) koja je nastala kao rezultat preduzimanja ili nepreduzimanja bilo koje radnje u skladu sa ili u vezi

Klauzule 26.12

; i

Agent će obavestiti Strane kreditnog aranžmana o svim promenama dogovorenim u skladu sa gore navedenim stavom (d).

27.

PORAVNANJE

Strana kreditnog aranžmana može poravnati bilo koju dospelu obavezu Zajmoprimca po osnovu Finansijskih dokumenata sa bilo kojom obavezom dospelom koju ta Strana kreditnog aranžmana duguje Zajmoprimcu, bez obzira na mesto plaćanja, poslovnicu koja obavlja knjiženje ili valutu bilo koje obaveze. Ako su obaveze u različitim valutama, Strana kreditnog aranžmana će konvertovati bilo koju obavezu po tržišnom kursu u redovnom toku poslovanja za potrebe poravnanja.

28.Čl. 28.1–28.6

OBAVEŠTENJA

Odredba28.1

Pismena obaveštenja

Svaka komunikacija koja se obavlja po osnovu ili u vezi sa Finansijskim dokumentima mora biti u pisanoj formi i, osim ako nije drugačije precizirano, mora se dostaviti pismom ili u skladu sa

klauzulom 28.5

(Elektronska komunikacija) mejlom.

Odredba28.2

Kontakt podaci

Podaci koji se odnose na adresu (i sektor i lice, ukoliko postoje, kojima će komunikacija biti upućena) svake Strane za potrebe bilo kakve komunikacije ili dokumenta koji treba da se sačini ili dostavi po osnovu ili u vezi Finansijskih dokumenata su:

u slučaju Zajmoprimca i Agenta, oni navedeni uz njihova imena na strani na kojoj se nalaze potpisi; i

u slučaju svakog Aranžera, onaj koji je naveden pisanim putem Agentu na ili pre datuma na koji postane Strana; i

u slučaju svakog Zajmodavca, oni o kojima će Agent biti obavešten u pisanoj formi na dan ili pre dana kada postane Strana,

ili bilo koja zamenska adresa ili sektor ili lice o čemu će Strana obavestiti Agenta (ili će Agent obavestiti druge Strane, ako je promenu svojih kontakt podataka izvršio sam Agent) najmanje pet (5) Radnih dana unapred.

Odredba28.3

Dostavljanje

Sva komunikacija ili dokumenti sačinjeni ili dostavljeni od strane jednog lica drugom po ili u vezi sa Finansijskim dokumentima biće važeći samo kada je ono dostavljeno na odnosnu adresu ili pet (5) Radnih dana pošto je deponovano u pošti sa pretplaćenom poštarinom u koverti adresiranoj na tu adresu, a ukoliko je određen sektor ili službenik naznačen kao deo pojedinosti adrese date u

Klauzuli 28.2

(Kontakt podaci), ako su upućene tom sektoru ili službeniku.

Svaka komunikacija koju treba obaviti ili dokument koji treba dostaviti Agentu imaju dejstvo samo od momenta kad ih Agent stvarno primi a tada samo ako je označeno da su upućeni na pažnju sektora ili službenika navedenih uz potpis Agenta na stranici za potpis Agenta (ili bilo kog zamenskog sektora ili zamenskog službenika koje će u te svrhe Agent odrediti).

Sva obaveštenja od ili prema Zajmoprimcu biće dostavljena preko Agenta.

Smatraće se da sva komunikacija i dokumenta koja postanu efektivna, u skladu sa stavovima od (a) do (c) iznad, nakon 17:00 sati u mestu prijema, postaju efektivna sledećeg Radnog dana.

Odredba28.4

Obaveštenje o kontakt podacima

Odmah nakon promene adrese ili broja faksa, Agent će o tome obavestiti druge Strane.

Odredba28.5

Elektronska komunikacija

Svaka komunikacija ili dokument koji jedna Strana treba da uputi ili dostavi drugoj Strani po osnovu ili u vezi s Finansijskim dokumentima može se uputiti ili dostaviti elektronskom poštom ili drugim elektronskim sredstvima (uključujući, bez ograničenja, putem objavljivanja na sigurnom veb sajtu) ako te dve Strane:

(i)

jedna drugu međusobno obaveste u pisanoj formi o adresi za potrebe elektronske komunikacije i/ili bilo kojoj drugoj informaciji potrebnoj kako bi se omogućila razmena tim sredstvom; i

(ii)

jedna drugu međusobno obaveste o svim promenama adrese ili bilo kojih drugih informacija najmanje pet (5) Radnih dana unapred.

Svaka elektronska komunikacija ili dostava navedena u stavu (a) između Zajmoprimca i Strana kreditnog aranžmana može se realizovati isključivo na način koji je između te dve Strane dogovoren i osim i sve dok ne obaveste o suprotnom, to predstavlja prihvatljiv vid komunikacije.

Svaka takva elektronska komunikacija ili dokument, kao što je navedeno u stavu (a) iznad, koji jedna Strana uputi ili dostavi drugoj Strani biće efektivna tek kada bude stvarno primljena (ili učinjena dostupnom) u čitljivom obliku, a u slučaju bilo koje elektronske komunikacije ili dokumenta koji se upućuju ili dostavljaju Agentu, samo ako je adresirana na način koji će Agent za ovu svrhu odrediti.

Svaka elektronska komunikacija ili dokument koja postaje efektivna u skladu sa stavom (c) iznad, nakon 17:00 časova u mestu u kojem Strana kojoj je relevantna komunikacija ili dokument poslat ili učinjen dostupnim ima svoju adresu u svrhu ovog ugovora, smatraće se da postaje efikasna tek sledećeg radnog dana.

Svako upućivanje u Finansijskom dokumentu na komunikaciju koja se šalje ili prima, ili na dokument koji je dostavljen, biće koncipirana tako da obuhvati komunikaciju ili dokument raspoložive u skladu sa

Klauzulom 28.5.

Odredba28.6

Engleski jezik

Svako obaveštenje dato po ili u vezi sa bilo kojim Finansijskim dokumentom mora biti na engleskom jeziku.

Svi ostali dokumenti dostavljeni po ili u vezi sa bilo kojim Finansijskim dokumentom moraju biti:

(i)

na engleskom jeziku; ili

(ii)

ukoliko nisu na engleskom, a Agent to zahteva, moraju biti propraćeni overenim prevodom na engleski i, u tom slučaju, engleski prevod će imati pretežnu važnost, osim ako se radi o osnivačkom dokumentu, javnoj ispravi ili službenom dokumentu.

29.Čl. 29.1–29.3

OBRAČUNI I POTVRDE

Odredba29.1

Poslovne knjige

U svakom sporu ili postupku arbitraže koji proističe iz ili je vezan za Finansijski dokument, evidentirane transakcije u poslovnim knjigama koje vode Strane kreditnog aranžmana predstavljaće nesumnjiv dokaz o pitanjima na koja se odnose.

Odredba29.2

Potvrde i odluke

Svaka potvrda ili odluka Strane kreditnog aranžmana stope ili iznosa prema bilo kom Finansijskom dokumentu je, u odsustvu očigledne greške, konačan dokaz o pitanjima na koja se odnosi.

Odredba29.3

Pravilo o utvrđivanju broja dana

Svaka kamata, provizija ili naknada koja se obračunava po osnovu Finansijskih dokumenata obračunavaće se iz dana u dan na bazi stvarno proteklih dana i godine od tri stotine šezdeset (360) dana ili, u svakom slučaju kada se praksa relevantnog tržišta razlikuje, onda u skladu sa praksom tog tržišta.

30.

DELIMIČNA NIŠTAVNOST

Ukoliko, u bilo kom trenutku, bilo koja odredba Finansijskih dokumenata bude ili postane nezakonita, nevažeća ili nemoguća za sprovođenje u bilo kom pogledu po bilo kom pravu u bilo kojoj nadležnosti, to ni na koji način neće uticati na zakonitost, validnost niti mogućnost sprovođenja ostalih odredaba kao ni zakonitost, validnost niti mogućnost sprovođenja takvih odredaba po zakonu bilo koje druge nadležnosti.

31.

PRAVNI LEKOVI I ODRICANJA

Nikakav propust da se izvrši, niti kašnjenje u vršenju od bilo koje Strane kreditnog aranžmana, bilo kog prava ili pravnog leka po osnovu Finansijskih dokumenata neće se tumačiti kao odricanja od tog prava niti će predstavljati način potvrđivanja bilo kog Finansijskih dokumenata. Odluka o potvrđivanju bilo kog Finansijskih dokumenata od strane Strana kreditnog aranžmana neće biti validna osim ako je u pisanoj formi. Individualno ili delimično ostvarenje bilo kog prava ili pravnog leka neće sprečiti svako dalje ili drugo ostvarivanje bilo kog drugog prava ili pravnog leka. Prava i pravni lekovi predviđeni svakim Finansijskim dokumentom data su kumulativno i ne isključuju bilo koja zakonom zagarantovana prava ili pravne lekove.

32.Čl. 32.1–32.4

AMANDMANI I ODRICANJA

Odredba32.1

Obavezna odobrenja

U skladu sa

Klauzulom 3.4

(UKEF Garancija),

Klauzulom 32.2

(Svi Zajmodavci) i

Klauzulom 32.3

(Druga izuzeća) svaka odredba Finansijskih dokumenata može biti izmenjena ili je od nje moguće odustati samo uz saglasnost Većinskih zajmodavaca i Zajmoprimca a svaka takva izmena ili odustajanje biće obavezujući za sve Strane.

Agent može izvršiti, u ime bilo koje Strane kreditnog aranžmana, bilo koju izmenu i dopunu i odricanje dozvoljeno prema

Klauzuli 32.

Ne dovodeći u pitanje stavove (c), (d) i (e)

Klauzule 23.7

(Prava i diskreciona prava), Agent može angažovati, platiti i oslanjati se na usluge advokata prilikom utvrđivanja dozvoljenog opsega izmena, dopuna, odricanja ili odobrenja prema ovom Ugovoru i njihovo sprovođenje.

Odredba32.2

Svi Zajmodavci

U skladu sa

Klauzulom 32.4

(Zamena Kotirane stope) izmene i dopune ili odricanje od bilo kog uslova Finansijskih dokumenata menja ili koji se odnosi na:

definiciju „Većinski zajmodavci” iz

Klauzule 1.1.

(Definicije);

produženje datuma plaćanja bilo kog iznosa prema Finansijskim dokumentima;

umanjenje Marže ili umanjenje iznosa bilo kog plaćanja glavnice, kamate, naknade ili provizije koji su plativi;

promenu valute plaćanja bilo kog iznosa prema Finansijskim dokumentima;

povećanje bilo kojih Angažovanih sredstava ili Ukupnih angažovanih sredstava, produženje Perioda raspoloživosti ili bilo koji zahtev da poništavanje Angažovanih sredstava umanji Angažovana sredstva Zajmodavaca na odgovarajući način prema Kreditnom aranžmanu;

promenu Zajmoprimca;

odredbe kojima se izričito zahteva odobrenje Zajmodavaca;

odredbe koje se odnose na Zakone i propise o sankcijama ili Zakone o sprečavanju korupcije; ili

Klauzulu 3.2 (Prava i obaveze Strana kreditnog aranžmana), Klauzulu 6.1 (Korišćenje aranžmana), Klauzulu 8.1 (Nezakonitost), Klauzulu 8.9 (Plaćanje unapred), Klauzulu 21 (Promene Zajmodavaca), Klauzulu 25 (Preraspodela među Stranama kreditnog aranžmana), ovu Klauzulu 32, Klauzulu 38 (Merodavno pravo), merodavno pravo bilo kog Finansijskih dokumenata ili Klauzulu 39 (Nadležnost),

neće biti izvršene bez prethodne saglasnosti Zajmodavaca.

Odredba32.3

Druga izuzeća

Izmene i dopune ili odreknuća koje se odnose na prava i obaveze Agenta ili svakog Aranžera (svako u svojoj funkciji) ne mogu biti izvršene bez saglasnosti Agenta ili konkretnog Aranžera, u zavisnosti od slučaja.

Odredba32.4

Zamena Kotirane stope

U skladu sa

Klauzulom 32.3

(Druga izuzeća), ako dođe do Slučaja zamene Kotirane stope u vezi sa bilo kojom Kotiranom stopom za valutu Kredita, izmene i dopune i odricanja koja se odnose na:

obezbeđivanje korišćenja Supstitutivne stope:

(b)

usklađivanje odredaba svih Finansijskih dokumenata sa upotrebom te Supstitutivne stope;

ii)

omogućavanje korišćenja te Supstitutivne stope za potrebe kalkulacije kamate po osnovu ovog ugovora (uključujući, ali ne ograničavajući se, na sve naknadne izmene potrebne kako bi se omogućilo da se ta Supstitutivna stopa koristi za potrebe ovog ugovora);

iii)

sprovođenje tržišnih konvencija primenjivih na tu Supstitutivnu stopu;

iv)

obezbeđivanje adekvatnih alternativnih fallback odredbi (i onih koje se odnose na poremećaje tržišta) za potrebe te Supstitutivne stope; ili

usklađivanje cena u cilju smanjenja ili eliminisanja, u razumnoj izvodljivoj meri, transfera ekonomske vrednost sa jedne Strane na drugu kao rezultat primene te Supstitutivne stope (i ako je Relevantno regulatorno telo zvanično koncipiralo, utvrdilo ili preporučilo bilo koje usklađivanje ili metod obračuna usklađivanja, usklađivanje će se tada utvrditi na osnovu tog koncipiranog, utvrđenog ili preporučenog modela),

mogu se izvršiti uz saglasnost Agenta (koji postupa po instrukcijama Većinskih zajmodavaca, Izvozne kreditne agencije UK i Zajmoprimca).

33.Čl. 33.1–33.10

POVERLJIVE INFORMACIJE

Odredba33.1

Poverljive informacije

Svaka Strana kreditnog aranžmana saglasna je da čuva u tajnosti sve Poverljive informacije i da ih nikome ne obelodanjuje, osim u meri dozvoljenoj u

Klauzuli 33.2

(Obelodanjivanje poverljivih informacija) i da obezbedi da sve Poverljive informacije budu zaštićene sigurnosnim merama i stepenom pažnje koju bi primenila na sopstvene poverljive informacije.

Odredba33.2

Obelodanjivanje poverljivih informacija

Svaka Strana kreditnog aranžmana može obelodaniti:

svakoj svojoj Filijali ili Povezanim sredstvima i svim svojim službenicima, direktorima, zaposlenima, savetnicima, revizorima, partnerima i Predstavnicima takve Poverljive informacije koje ta Strana kreditnog aranžmana smatra primerenim, ako je svaka osoba kojoj se Poverljive informacije daju u skladu sa stavom (a) obaveštena u pisanoj formi o njihovoj poverljivoj prirodi i da pojedine ili sve Poverljive informacije mogu biti osetljive informacije o ceni, ali ova obaveza takvog obaveštavanja neće postojati ako primalac ima profesionalnu obavezu da čuva poverljivost informacija ili je na drugi način u obavezi da čuva poverljive informacije;

svakom licu:

(i)

kojem (ili preko kog) ustupi ili prenese (ili može potencijalno ustupiti ili preneti) sva ili bilo koja svoja prava i/ili obaveze prema jednom ili više Finansijskih dokumenata ili koje je pravni sledbenik (ili koje potencijalno može biti pravni sledbenik) kao Agent i, u svakom slučaju, bilo kojoj Filijali, Povezanim fondovima, Predstavnicima ili stručnim savetnicima tog lica;

(ii)

sa kojim (ili preko kog) zaključuje (ili može potencijalno da zaključi), direktno ili indirektno, bilo kakvo podučešće u vezi sa, ili bilo kojom drugom transakcijom u okviru koje treba da se izvrše plaćanja ili se mogu izvršiti plaćanja pozivanjem na jedan ili više Finansijskih dokumenata i/ili Zajmoprimca, kao i bilo koju Filijalu, Povezane fondove, Predstavnike i stručne savetnike tog lica;

(iii)

koje je imenovala bilo koja Strana kreditnog aranžmana ili lice na koje se odnosi gore navedeni stav (i) ili (ii) da prima prepisku, obaveštenja, informacije ili dokumentaciju koje se dostavljaju u skladu sa Finansijskim dokumentima u njegovo ime (uključujući, ali ne ograničavajući se na, bilo koje lice koje je imenovano u skladu sa stavom (b)

Klauzule 23.15

(Odnos sa Zajmodavcima));

(iv)

koja ulaže ili na drugi način finansira (ili bi potencijalno moglo da investira ili na drugi način da finansira), direktno ili indirektno, bilo koju transakciju koja se navodi u stavu (i) ili (ii);

(v)

kojem je potrebno ili zatraženo da se obelodani informacije od strane bilo kog nadležnog suda ili bilo kog vladinog, bankarskog, poreskog ili drugog regulatornog organa ili sličnog tela, pravila bilo koje relevantne berze ili u skladu sa bilo kojim važećim zakonom ili propisom;

(vi)

kojem je potrebno obelodaniti informacije u vezi sa ili za potrebe bilo kakve parnice, arbitraže, upravnog ili drugog istražnog postupka ili spora;

(vii)

kojem ili u čiju korist ta Strana kreditnog aranžmana zaračunava, ustupa ili na drugi način uspostavlja Osiguranje (ili to može učiniti) u skladu sa

Klauzulom 21.8

(Osiguranje prava Zajmodavca);

(viii)

koje je Strana;

(ix)

koje je Izvoznik; ili

(x)

uz saglasnost Zajmoprimca,

a u svakom slučaju, takve Poverljive informacije koje ta Strana kreditnog aranžmana smatra primerenim ako je:

(A) u vezi sa gore navedenim stavovima (i), (ii) i (iii), lice kome će Poverljive informacije biti date sklopilo Ugovor o poverljivosti osim ako nema obaveze sklapanja Ugovora o poverljivosti, ukoliko je primalac stručni savetnik i podleže profesionalnim obavezama čuvanja poverljivosti Poverljivih informacija;

(B) u vezi sa gore navedenim stavovima (iv), lice kome će Poverljive informacije biti date sklopilo je Ugovor o poverljivosti ili je na bilo koji drugi način obavezano zahtevima poverljivosti u vezi sa Poverljivim informacijama koje dobije i obavešteno je da neke ili sve takve Poverljive informacije mogu biti osetljive informacije o ceni; i

(C) u vezi sa gore navedenim stavovima (v), (vi) i (vii), lice kome će Poverljive informacije biti date je obavešteno o njihovoj poverljivoj prirodi i da neke ili sve takve Poverljive informacije mogu biti osetljive informacije o ceni, s tim što ne postoji obaveza takvog obaveštavanja, ako po mišljenju te Strane kreditnog aranžmana, to nije izvodljivo u datim okolnostima;

Izvoznoj kreditnoj agenciji UK;

svakom licu koje je ta Strana kreditnog aranžmana imenovala ili licu na koje se odnosi gore navedeni stav (b)(i) ili (ii) da pruža usluge administracije ili saldiranja u pogledu jednog ili više Finansijskih dokumenata, uključujući, ali ne ograničavajući se na trgovanje učešćima vezano za Finansijska dokumenta, te može tražiti obelodanjivanje tih Poverljivih informacija kako bi se omogućilo pružaocu datih usluga da obezbedi svoje usluge navedene u ovom stavu (d) ukoliko pružalac usluga kome se Poverljive informacije daju je zaključio Ugovor o poverljivosti; ili

svakoj rejting agenciji (uključujući njene stručne savetnike) one Poverljive informacije za koje bi moglo biti zatraženo da se obelodane kako bi se omogućilo takvoj rejting agenciji da sprovodi svoje uobičajene aktivnosti vezane za Finansijska dokumenta i/ili Zajmoprimca, ukoliko je rejting agencija kojoj će Poverljive informacije biti date je informisana o poverljivoj prirodi i da neke ili sve takve Poverljive informacije mogu biti osetljive informacije o ceni.

Odredba33.3

Obelodanjivanje pružaocima numeričkih usluga

Svaka Strana kreditnog aranžmana može obelodaniti sledeće informacije bilo kojim nacionalnim ili međunarodnim pružaocima numeričkih usluga koje je imenovala ta Strana kreditnog aranžmana da pruža identifikacione numeričke usluge u pogledu ovog ugovora, Kreditnog aranžmana i/ili Zajmoprimca:

(i)

ime Zajmoprimca;

(ii)

zemlju porekla Zajmoprimca;

(iii)

mesto osnivanja Zajmoprimca;

(iv)

datum Ugovora;

(v)

Klauzulu 38 (Merodavno pravo);

(vi)

ime Agenta i Aranžera;

(vii)

datum svake izmene i dopune ovog ugovora;

(viii)

iznos Kreditnog aranžmana;

(ix)

iznos Ukupnih angažovanih sredstava;

(x)

valutu Kreditnog aranžmana;

(xi)

vrstu Kreditnog aranžmana;

(xii)

rangiranje Kreditnog aranžmana;

(xiii)

planirani datum konačne otplate Kreditnog aranžmana;

(xiv)

promene prethodno datih informacija u skladu sa gore navedenim stavovima (i) – (xiii); i

(xv)

druge informacije dogovorene između Strane kreditnog aranžmana i Zajmoprimca,

kako bi se omogućilo pružaocima numeričkih usluga da pruže uobičajene identifikacione numeričke usluge sindiciranih kredita.

Strane su potvrdile i saglasile se da se svaki identifikacioni broj dodeljen ovom Ugovoru, Kreditnom aranžmanu i/ili Zajmoprimcu od strane pružaoca numeričkih usluga i informacije povezane sa svakim takvim brojem mogu biti obelodanjene korisnicima njihovih usluga u skladu sa standardnim uslovima tog pružaoca numeričke usluge.

Zajmoprimac izjavljuje da nijedna od informacija u gore navedenim stavovima (a)(i) – (xv) nije niti će biti u bilo kom trenutku neobjavljena osetljiva informacija o ceni.

Agent će obavestiti Zajmoprimca i druge Strane kreditnog aranžmana o:

(i)

imenu pružaoca numeričke usluge koju je Agent postavio za potrebe Ugovora, Kreditnog aranžmana i Zajmoprimca; i

(ii)

broj i brojeve, zavisno od slučaja, dodeljene ovom Ugovoru, Kreditnom aranžmanu i Zajmoprimcu od strane tog pružaoca numeričke usluge.

Odredba33.4

Obelodanjivanje od strane Izvozne kreditne agencije UK

Strane potvrđuju i saglasne su da ništa u ovom Ugovoru ne sprečava Izvoznu kreditnu agenciju UK od obelodanjivanja Poverljivih informacija:

zaposlenima, agentima, konsultantima, savetnicima ili ugovaračima Izvozne kreditne agencije UK, bilo kom osiguravaču i/ili reosiguravaču Izvozne kreditne agencije UK ili bilo kojoj drugoj strani sa kojom bi Izvozna kreditna agencija UK potencijalno mogla sklopiti aranžman o osiguranju ili reosiguranju (uključujući njihove agente, brokere i konsultante);

bilo kom pravnom sledbeniku organa ili kompanije na koju Izvozna kreditna agencija UK prenese ili predlaži da prenese celokupni ili bilo koji deo svog poslovanja;

bilo kom licu kome su informacije potrebne ili kome se traži njihovo obelodanjivanje:

(i)

od strane nadležnog suda ili bilo koje državne, bankarske, poreske ili drugog regulatornog organa ili sličnog tela, pravila bilo koje relevantne berze ili u skladu sa bilo kojim važećim zakonom ili propisom;

(ii)

u vezi sa i u svrhe bilo koje parnice, arbitraže, upravnog ili drugog istražnog postupka ili spora;

(iii)

od strane neke međunarodne organizacije čiji je član Izvozna kreditna agencija UK ili Ujedinjeno Kraljevstvo;

bilo kom drugom državnom organu UK i u meri u kojoj Izvozna kreditna agencija UK smatra da je obelodanjivanje neophodno ili primereno u vezi sa vršenjem njenih javnih funkcija i obaveza;

za bilo kakvo ispitivanje ekonomičnosti, efikasnosti i efektivnosti korišćenja sredstava kojom je Izvozna kreditna agencija UK koristila svoje resurse, u skladu sa odeljkom 6(1) Zakona o reviziji iz 1983. godine;

Kancelariji za ozbiljne prevare, Nacionalnoj agenciji za kriminal ili bilo kom drugom organu u vezi sa bilo kojim kršenjem ili potencijalnim kršenjem važećeg zakona ili propisa;

objavljivanje u godišnjem izveštaju Izvozne kreditne agencije UK, na njenoj internet stranici ili na drugom mestu detaljnih podataka o imenu Kupca i Izvoznika i zemlji u kojoj se Ugovor o izvozu realizuje, kratkog opisa stavki nabavljenih u okviru Ugovora o izvozu ili Projekta, vrsti i iznosu podrške koju je Izvozna kreditna agencija UK obezbedila i potencijalne kategorije uticaja na životnu sredinu i/ili socijalna pitanja koje je Izvozna kreditna agencija UK dodelila Projektu; ili

svakom licu koje ima odobrenje Zajmoprimca (to odobrenje ne treba da bude bezrazložno uskraćeno ili zadržano).

Odredba33.5

Sloboda informisanja

Svaka Strana je saglasna da se zahtevi Zakona o informacijama primenjuju na Izvoznu kreditnu agenciju UK i da će obezbediti svu potrebnu pomoć i saradnju koju Izvozna kreditna agencija UK bude tražila kako bi joj se omogućilo da ispuni svoje obaveze prema Zakonu o informacijama.

Svaka Strana je saglasna da se u skladu sa Zakonom o informacijama može zahtevati od Izvozne kreditne agencija UK da obelodani Informacije o Strani (uključujući Poverljive informacije i komercijalno osetljive informacije) bez konsultacije ili dobijanja saglasnosti od te Strane. Bez obzira na navedeno, ukoliko Izvozna kreditna agencija UK dobije zahtev u skladu sa Zakonom o informacijama da obelodani Informacije koje se tiču bilo koje Strane, Izvozna kreditna agencija UK će nastojati, u skladu sa relevantnim uputstvima izdatim u skladu sa Zakonom o informacijama i u meri u kojoj je to zakonski moguće, da:

(i)

pre obelodanjivanja u skladu sa Zakonom o informacijama obezbedi relevantnoj Strani detalje o primljenom zahtevu i dati toj Strani priliku da se izjasni o primenljivosti bilo kog izuzeća od primene Zakona o informacijama u vezi sa Informacija koje su tražene;

(ii)

razmotri sve takve izjave primljene od te Strana; i

(iii)

ako Izvozna kreditna agencija UK utvrdi da je potrebno obelodanjivanje prema Zakonu o informacijama, obavestiće tu Stranu o obimu i sadržaju svakog obelodanjivanja informacija pre nego što ih obelodani.

Izvozna kreditna agencija UK biće odgovorna da utvrdi po svom diskrecionom pravu da li je bilo koja Informacija vezana za bilo koju Stranu izuzeta od obelodanjivanja u skladu sa Zakonom o informacijama.

Odredba33.6

Obelodanjivanje Izvozniku

U skladu sa

Klauzulom 33.2

(Obelodanjivanje poverljivih informacija), svaka Strana je saglasna da Agent može obelodaniti obrazac (nacrt ili konačnu usaglašenu verziju) Zahteva Izvoznika za plaćanje, Potvrdu izvoznika, kao i sve uslove ovog ugovora isključivo u svrhu omogućavanja Izvozniku da zatraži plaćanje i da to plaćanje bude izvršeno u korist Izvoznika.

Odredba33.7

Celokupan ugovor

Ova

Klauzula 33

predstavlja celokupan ugovor između Strana u pogledu obaveza Strana kreditnog aranžmana prema Finansijskim dokumentima u pogledu Poverljivih informacija i zamenjuje svaki prethodni sporazum, izrečen ili impliciran, po pitanju Poverljivih informacija.

Odredba33.8

Insajderske informacije

Svaka Strana kreditnog aranžmana saglasna je da neke ili sve Poverljive informacije jesu ili mogu biti osetljive informacije o ceni i da korišćenje tih informacija može biti regulisano ili zabranjeno važećim propisima uključujući i zakon o hartijama od vrednosti koji se odnosi na insajdersko poslovanje i zloupotrebu tržišta i svaka Strana kreditnog aranžmana se obavezuje da neće koristiti Poverljive informacije u bilo koje nezakonite svrhe.

Odredba33.9

Obaveštenje o obelodanjivanju

Svaka od Strana kreditnog aranžmana saglasna je (u meri u kojoj zakon i propisi to dozvoljavaju) da Zajmoprimca obavesti o:

Okolnostima bilo kakvog obelodanjivanja Poverljivih informacija izvršenog u skladu sa stavom (b)(v)

Klauzule 33.2

(Objavljivanje poverljivih informacija), osim kada se takvo otkrivanje vrši bilo kom licu navedenom u tom stavu tokom redovnog obavljanja svojih nadzornih ili regulatornih funkcija; i

po saznanju da je Poverljiva informacija obelodanjena u suprotnosti sa ovom

Klauzulom 33.

Odredba33.10

Trajne obaveze

Obaveze iz

Klauzule 33

su trajne i nastaviće se i ostaju obavezujuće za svaku Stranu kreditnog aranžmana u trajanju od dvanaest (12) meseci od datuma koji nastupi ranije od:

datuma na koji su svi plativi iznosi od strane Zajmoprimca prema ili u vezi sa ovim Ugovorom isplaćeni u potpunosti i sva Angažovana sredstva su otkazana ili na drugi način prestaju da budu raspoloživa; i

datuma na koji ta Strana kreditnog aranžmana na drugi način prestaje da bude Strana kreditnog aranžmana.

34.Čl. 34.1–34.3

POVERLJIVOST STOPA FINANSIRANJA

Odredba34.1

Poverljivost i obelodanjivanje

Agent i Zajmoprimac saglasni su da će čuvati kao poverljive sve Stope finansiranja i da ih neće nikome obelodanjivati, osim u onoj meri koju dozvoljavaju stavovi (b) i (c) u daljem tekstu.

Agent može obelodaniti:

(i)

Zajmoprimcu svaku Stopu finansiranja u skladu sa

Klauzulom 9.5

(Obaveštavanje o kamatnim stopama); i

(ii)

bilo koju Stopu finansiranja bilo kom licu koga je Agent imenovao da pruži administrativne usluge za potrebe jednog ili više Finansijskih dokumenata u meri u kojoj je to potrebno da bi se data usluga obezbedila ukoliko je pružalac usluga kome se te informacije daju sklopio Ugovor o poverljivosti.

Agent može obelodaniti bilo koju Stopu finansiranja i Zajmoprimac može obelodaniti bilo koju Stopu finansiranja:

(i)

svim svojim Filijalama i svakom od njenih ili njihovih službenika, direktora, zaposlenih, stručnih savetnika, revizora, partnera ili Predstavnika ako je to lice kome Stopa finansiranja treba da se obelodani u skladu sa ovim stavom (i) informisana u pisanoj formi o poverljivoj prirodi Stope finansiranja i činjenici da to može biti osetljiva informacija o ceni; takva obaveza obaveštavanja neće postojati ukoliko je primalac podložan profesionalnoj obavezi čuvanja poverljivih informacija o toj Stopi finansiranja ili je na drugi način u obavezi čuvanja poverljivosti tog podatka;

(ii)

svakom licu koje mora ili od koga se to traži od strane bilo kog suda u nadležnoj nadležnosti ili od strane bilo koje državne, bankarske, poreske ili druge regulatorne institucije ili sličnog tela, pravila berze ili u skladu sa bilo kojim merodavnim zakonom ili propisom ukoliko je to lice kome se Stopa finansiranja obelodanjuje obavešteno u pisanoj formi o poverljivoj prirodi i činjenici da to mogu biti osetljive informacije o ceni, ali neće postojati takva obaveza obaveštavanja kada po mišljenju Agenta ili Zajmoprimca, u zavisnosti od slučaja, to nije u datim okolnostima izvodljivo;

(iii)

svakom licu kome je potrebno otkriti informacije u vezi sa i u svrhe bilo koje parnice, arbitraže, administrativne ili druge istrage, postupka ili spora, ako je osoba kojoj treba dati tu Stopu finansiranja informisana u pisanoj formi o poverljivoj prirodi i činjenici da su možda u pitanju osetljive informacije o ceni, ali neće postojati takva obaveza obaveštavanja kada po mišljenju Agenta ili Zajmoprimca, u zavisnosti od slučaja, to nije u datim okolnostima izvodljivo; i

(iv)

bilo kojoj osobi uz saglasnost relevantnog Zajmodavca.

Odredba34.2

Povezane obaveze

Agent i Zajmoprimac su saglasni da svaka Stopa finansiranja predstavlja ili može predstavljati osetljive informacije o ceni i da njeno korišćenje može biti regulisano ili zabranjeno važećim propisima uključujući i zakon o hartijama od vrednosti koji se odnosi na insajdersko poslovanje i zloupotrebu tržišta i Agent i Zajmoprimac se obavezuju da neće koristiti Stope finansiranja u bilo koje nezakonite svrhe.

Agent i Zajmoprimac su saglasni da će (u meri u kojoj to dozvoljava zakon i propisi) relevantnog Zajmodavca obavestiti o:

(i)

okolnostima svakog obelodanjivanja u skladu sa stavom c(ii)

Klauzule 34.1

(Poverljivost i obelodanjivanje) osim ako je obelodanjeno licima iz tog stava tokom redovnog sprovođenja nadzora ili redovnih funkcija; i

(ii)

o saznanjima da su bilo koje informacije obelodanjene čime se krši

Klauzula 34.

Odredba34.3

Nije nastupio slučaj neispunjenja obaveza

Nije nastupio slučaj neispunjenja obaveza prema

Klauzuli 20.2

(Druge obaveze) usled isključivog propusta Zajmoprimca da ispuni odredbe

Klauzule 34.

35.

PRIMERCI

Finansijski dokument može biti potpisan u bilo kom broju primeraka, što će imati isto dejstvo kao da su potpisi stavljeni na jedan jedini primerak Finansijskih dokumenata.

36.

JEZIK

Iako se ovaj ugovor može prevesti na bilo koji drugi jezik osim engleskog, takva verzija koja nije engleska verzija ovog ugovora je samo u informativne svrhe. U slučaju bilo kakvih odstupanja ili nedoslednosti između verzije na engleskom jeziku i takve verzije ovog ugovora koje nisu na engleskom ili bilo kog spora u vezi sa tumačenjem bilo koje odredbe u verziji na engleskom ili ne-engleskoj verziji ovog ugovora, verzija na engleskom jeziku ovog ugovora će prevladati i pitanja tumačenja će se rešavati isključivo pozivanjem na verziju na engleskom jeziku.

37.

UGOVORNO PRIZNANjE INSTITUTA INTERNE SANACIJE

Dogovoreno je da, bez obzira na bilo koje druge uslove bilo kog Finansijskih dokumenata ili bilo kog drugog sporazuma, aranžmana ili razumevanja između Strana, svaka Strana priznaje i prihvata da bilo koja odgovornost bilo koje Strane kreditnog aranžmana prema bilo kojoj drugoj Strani u skladu sa ili u vezi sa Finansijskim dokumentima može biti predmet Primene instituta interne sanacije od strane Regulatoronog tela i saglasna je i prihvata da bude obavezana na sledeće:

(a)

bilo koju radnju vezanu za Primenu instituta interne sanacije u vezi sa bilo kojom takvom odgovornošću, uključujući (bez ograničenja):

(i)

smanjenje, u celosti ili delimično, iznosa glavnice ili neizmirenog iznosa duga (uključujući sve obračunate, ali neplaćene kamate) u vezi sa bilo kojom takvom obavezom;

(ii) pretvaranje celokupne ili dela bilo koje takve odgovornosti u akcije ili druge instrumente vlasništva koji joj se mogu izdati ili poveriti;

(iii) otkazivanje svake takve odgovornosti; i

(iv) izmena bilo kog uslova u bilo kom Finansijskom dokumentu u meri koja je potrebna za Primenu instituta interne sanacije u vezi sa bilo kojom takvom obavezom.

(b)

u ovoj

Klauzuli 37

(i)

„Član 55 EU Direktive” označava Direktivu 2014/59/ EU o uspostavljanju okvira za oporavak i sanaciju kreditnih institucija i investicionih društava;

(ii) „Primena instituta interne sanacije” označava sprovođenje ovlašćenja za otpis i konverziju;

(iii) „Propisi o institutu interne sanacije” označavaju:

(A) kada je reč o državama članicama EEA koje su sprovele ili koje u bilo kom trenutku sprovodi član 55 EU Direktive, relevantni zakon ili uredbu o sprovođenju kako je opisano u Rasporedu EU propisa o institutu interne sanacije;

(B) kada je reč o bilo kojoj drugoj državi koja nije zemlja članica EEA i Ujedinjenog Kraljevstva, bilo koji sličan zakon ili propis koji zahteva ugovorno priznavanje bilo kog ovlašćenja za otpis i konverziju sadržanog u tom zakonu ili propisu; i

(iv) „Zemlja članica EEA” označava bilo koju državu članicu Evropske unije, Island, Lihtenštajn i Norvešku;

(v)

„Raspored EU propisa o institutu interne sanacije” označava dokument koji je opisan kao takav i s vremena na vreme ga objavljuje Udruženje tržišta kredita (ili bilo koji njegov pravni sledbenik);

(vi) „Regulatorno telo” označava svako telo koje ima ovlašćenje da vrši bilo koju vrstu otpisa i konverzije;

(vii) „Propisi Ujedinjenog Kraljevstva o institutu interne sanacije” označava Deo I Zakona o bankarstvu Ujedinjenog Kraljevstva iz

2009. godine i bilo koji drugi zakon ili propis koji se primenjuje u Ujedinjenom Kraljevstvu koji se odnosi na rešavanje nesolventnih banaka ili banaka u postupku likvidacije, investicionih kompanija ili drugih finansijskih institucija ili njihovih filijala (osim putem likvidacije, stečajnom upravom ili drugim postupcima nesolventnosti);

(viii) „Ovlašćenja za otpis i konverziju” označava:

(A) u vezi sa bilo kojim Propisima o institutu interne sanacije, povremeno opisanom u Rasporedu EU propisa o institutu interne sanacije, takve nadležnosti u vezi sa tim Propisima o institutu interne sanacije u Rasporedu EU propisa o institutu interne sanacije;

(B) u vezi sa bilo kojim drugim primenjivim Propisima o institutu interne sanacije osim Propisa Ujedinjenog Kraljevstva o institutu interne sanacije:

(1) bilo kakva ovlašćenja prema Propisima o institutu interne sanacije o ukidanju, prenosu ili smanjenju vrednosti akcija izdatih od strane subjekta koji je banka ili investiciona firma ili druga finansijska institucija ili filijala banke, investicione kompanije ili drugog finansijskog preduzeća ustanove, o poništenju, smanjenju, modifikaciji ili promeni oblika obaveze takvog lica ili bilo kog ugovora ili instrumenta na osnovu te obaveze, u cilju konverzije celokupnih ili dela obaveza u akcije, obveznice ili obaveze tog lica ili bilo kog lica, kako bi se učinilo da bilo koji takav ugovor ili instrument ima efekat kao da je u okviru njega realizovano pravo ili suspendovana obaveza po pitanju te obaveze ili bilo kojih nadležnosti koje proističu iz Propisa o institutu interne sanacije koje se odnose na ili su vezane za te nadležnosti; i

(2) bilo koja slična ili analogna nadležnost prema Propisima o institutu interne sanacije; i

(C) u vezi sa Propisima Ujedinjenog Kraljevstva o institutu interne sanacije, sva ovlašćenja na osnovu tih propisa da se ponište, prenesu ili podele akcije izdate od strane lica koje je banka, investiciono društvo ili druga finansijska institucija ili filijala banke, investicionog društva ili druge finansijske institucije; da se poništi, umanji, izmeni ili promeni oblik obaveze takvog lica ili bilo kog ugovora ili instrumenta iz koga ta obaveza proističe; da se konvertuje cela ili deo te obaveze u akcije, hartije od vrednosti ili obaveze tog lica ili bilo kog drugog lica; da se odredi da takav ugovor ili instrument proizvodi dejstvo kao da je neko pravo po njemu već bilo ostvareno; ili da se suspenduje bilo koja obaveza u pogledu te obaveze, kao i bilo koja ovlašćenja prema Propisima Ujedinjenog Kraljevstva o institutu interne sanacije koja su povezana ili prateća bilo kom od tih ovlašćenja.

ODELjAK 11

MERODAVNO PRAVO I IZVRŠENJE

38.

MERODAVNO PRAVO

Na ovaj ugovor i sve neugovorne obaveze koje proističu iz ovog ugovora ili su sa njim u vezi, primenjivaće se pravo Engleske.

39.

ARBITRAŽA

(a)

Arbitraža

U skladu sa stavom (e) (Agentovo pravo biranja), svi sporovi koji proističu iz Ugovora ili su sa njim u vezi (uključujući sporove u pogledu postojanja, važenja ili prestanka ovog ugovora ili bilo koje neugovorne obaveze koja proističe iz Ugovora ili je sa njim u vezi) („Spor”) upućuju se i biće konačno rešeni na arbitraži u skladu sa Pravilima arbitraže Londonskog suda međunarodne arbitraže (LCIA).

(b)

Formiranje arbitražnog veća, sedište i jezik arbitraže

(i)

Arbitražno veće sastoji se od tri arbitra. Tužilac (tužioci), bez obzira na njihov broj, imenuju zajednički jednog arbitra; tuženi (ili više tuženih), bez obzira na njihov broj, imenuju zajednički drugog arbitra, dok će trećeg arbitra (koji će biti i predsedavajući) imenovati arbitri koji su imenovani od strane ili za račun tužioca (tužilaca) i tuženog (tuženih) ili, u slučaju nemogućnosti postizanja dogovora o trećem arbitru u roku od trideset (30) dana od dana imenovanja drugog arbitra, njega će odabrati LCIA sud (kao što je definisano u Pravilima o arbitraži LCIA suda).

(ii) Sedište arbitraže biće London, Engleska.

(iii) Jezik arbitraže biće engleski.

(c)

Sudsko rešavanje sporova

Za potrebe arbitraže u skladu sa

Klauzulom 39

(Arbitraža), Strane se odriču prava na zahtev za utvrđivanje preliminarnog pravnog osnova ili na žalbu na utvrđeni pravni osnov u skladu sa članovima 45 i 69 Zakona o arbitraži iz 1996. godine.

(d)

Formiranje arbitraža

(i)

Sledeće će se primenjivati na svaki spor koji proističe iz ovog ugovora ili je za njega vezan i koji proističe ili je vezan za Finansijski dokument za koji je Zahtev za arbitražu podnet svim drugim stranama u arbitraži (ili, ako to nije moguće, sve strane su efektivno obaveštene). U smislu takvih sporova, ukoliko su, prema apsolutno diskrecionoj odluci prvog arbitražnog veća postavljenog za neki od sporova, ti sporovi tako tesno povezani da je svrsishodno da se rešavaju u istom postupku, arbitražno veće ima pravo da naloži da se konsoliduje postupak rešavanja spora sa onima za rešavanje drugih sporova, pod uslovom da nije određen datum saslušanja prve arbitraže. Ukoliko to arbitražno veće tako naloži, smatraće se da su strane u svakom sporu na koji se nalog odnosi pristale da o tom sporu konačno odlučuje:

(A) arbitražno veće koje je naložilo konsolidaciju, osim ako LCIA ne odluči da arbitražno veće nije adekvatno ili da nije nepristrasno; i

(B) u skladu sa postupkom, u sedištu i jezikom navedenim u relevantnom Finansijskom dokumentu prema kome je arbitražno veće koje je naložilo konsolidaciju postavljeno, osim ako se sve strane u postupku konsolidacije ne dogovore drugačije ili, ukoliko nema takvog dogovora, onda onako kako je naloženo od strane arbitražnog veća u konsolidovanom postupku.

Svaki spor koji je predmet ugovorne opcije koja podrazumeva parnicu, moći će da se konsoliduje isključivo u skladu sa ovim stavom (i) ako:

(D) došlo je do odricanja prava imaoca opcije da realizuje tu opciju.

(ii) Stav (i) primenjuje se čak i tamo kada ovlašćenja za postupak konsolidacije postoje prema bilo kojim važećim pravilima arbitraže (uključujući i pravila arbitražne institucije) i, u takvim okolnostima, odredbe stava (i) se primenjuju pored tih ovlašćenja.

(e)

Agentovo pravo izbora

Pre nego što Strane kreditnog aranžmana dostave Sekretaru LCIA suda Zahtev za arbitražu ili Odgovor, kao što je definisano Pravilima o arbitraži LCIA (u zavisnosti od slučaja), Agent može (i mora, ako dobije takve instrukcije od Većinskih zajmodavaca) obaveštenjem u pisanoj formi svim drugim Stranama tražiti da se svi Sporovi ili određeni Spor rešavaju pred sudom. Ukoliko Agent da takvo obaveštenje, smatraće se da će se Spor na koji se takvo obaveštenje odnosi rešavati u skladu sa

Klauzulom 40

(Nadležnost).

40.

NADLEŽNOST

Ukoliko Agent izda obaveštenje u skladu sa Klauzulom 39(e) (Agentovo pravo biranja), primenjivaće se odredbe

Klauzule 40

(Nadležnost).

(a)

Sudovi u Engleskoj imaju isključivu jurisdikciju u rešavanju Sporova.

(b)

Strane su saglasne da su sudovi u Engleskoj najprimereniji i najpodesniji za rešavanje Sporova, te da ni jedna Strana neće tvrditi suprotno.

(c)

Bez obzira na gore navedene stavove (a) i (b), ni jedna Strana kreditnog aranžmana neće biti sprečena da preduzme postupke vezane za Spor u bilo kom drugom sudu unutar nadležnosti. U meri u kojoj to dozvoljava zakon, Strane kreditnog aranžmana mogu preduzeti paralelne postupke u različitim nadležnostima.

41.Čl. 41.2

URUČENJE