VLADA REPUBLIKE HRVATSKE

Na temelju članka 32. Zakona o sklapanju i izvršavanju međunarodnih ugovora (»Narodne novine« br. 28/96) i zaključka Odbora za zakonodavstvo Zastupničkog doma Sabora Republike Hrvatske sa 21. sjednice održane 25. veljače 1997. godine objavljuju se Opće odrednice Europske banke za obnovu i razvoj u izborniku na engleskom jeziku i u prijevodu na hrvatski jezik

OPĆE ODREDNICE
EUROPSKE BANKE ZA OBNOVU I RAZVOJ

(a) Svakim ugovorom koji Banka sklapa o zajmu ili jamstvu za operaciju koju poduzima ili za koju jamči član Banke ugovornim strankama se može odrediti prihvaćanje propisa ovih Općih odrednica. U tom se smislu na svaki od ovakvih ugovora primjenjuju Opće odrednice s istim učinkom i pravosnažnošću kao da su u potpunosti i navedeni. U takvom ugovoru ne vrijede nikakvi otkazi ili promjene Općih odrednica, osim ako se ugovorne stranke ne dogovore drugačije.

(b) U slučaju da:

(i) se Ugovor o zajmu sklapa između Banke i člana, zanemaruju se stavke iz Općih odrednica koje se odnose na »Jamca«, »Ugovor o jamstvu« i »Ovlaštenog predstavnika Jamca«.

(ii) ne postoji Ugovor o projektu zanemaruju se stavke iz Općih odrednica koje se odnose na »Ugovor o projektu«.

(iii) cjelokupni projekt provodi Zajmoprimac, zanemaruju se stavke iz Općih odrednica koje se odnose na »Nositelja projekta«.

U slučaju da odredba iz Ugovora o zajmu ili Ugovora o jamstvu nije u skladu s odredbom iz Općih odrednica prevladava ona odredba koja je propisana Ugovorom o zajmu ili Ugovorom o jamstvu.

(a) Upute iz članka ili Odjeljaka u Općim odrednicama odnose se na članke i Odjeljke iz ovih Općih odrednica.

(b) Osim ako to sadržaj ne zahtijeva drukčije, riječi u ovim Općim odrednicama koje označavaju jedninu uključuju i množinu i obratno, a riječi koje označuju osobe uključuju korporacije, partnerstva i druge pravne osobe.

(c) Naslovi članaka i Odjeljaka, kao i sadržaj Općih odrednica uvršteni su isključivo radi lakšeg snalaženja i ne mogu se koristiti u smislu tumačenja Općih odrednica.

Osim kada je to naznačeno drukčije, navedeni izrazi imaju slijedeća značenja kada se rabe u Općim odrednicama, u Ugovoru o zajmu ili u Ugovoru o jamstvu na koje se primjenjuju Opće odrednice.

»suradnik« se rabi u odnosu na svaku jedinicu, a označuje i svaku drugu osobu koja izravno i neizravno nadzire ili se nalazi pod nadzorom ili je pod zajedničkim nadzorom takve jedinice.

»ugovor o osnivanju Banke« znači ugovor o osnivanju Europske banke za obnovu i razvoj od 29. svibnja 1990. godine.

»aktiva« uključuje vlasništvo, prihode ili potraživanja bilo koje vrste.

»raspoloživ iznos« označuje onaj dio zajma koji se neće od vremena do vremena otkazati, povući ili podvrgnuti uvjetnoj ili bezuvjetnoj obvezi naknade.

»banka« znači Europsku banku za obnovu i razvoj.

»zajmoprimac« znači stranku iz Ugovora o zajmu u skladu s kojim se daje zajam ili bilo kojeg njezinog sljednika.

»ovlašteni zastupnik Zajmoprimca« je osoba koja je pod tim nazivom određena člancima 3.01(b) i 10.02 i koja je u tom smislu određena Ugovorom o zajmu.

»poslovni dan« znači dan na koji se trgovačke banke i tržišta strane valute otvaraju za poslovne transakcije na međubankovnom tržištu za važeću valutu zajma u Londonu, Engleska, te dan kad trgovačke banke i tržišta strane valute podmiruju uplate u valuti u određenom financijskom centru.

»kategorija« znači kategoriju stavki koje će se financirati iz zajma, u smislu odredbi iz Ugovora o zajmu.

»troškovi« uključuju troškove, naknade, pristojbe, premije, dodatne troškove i zatezne kamate koje se odnose na zajam.

»ugovorna pristojba« označuje pristojbu određenu odjeljkom 3.05.(a).

»nadzor« se odnosi na bilo koju osobu, a znači izravnu ili neizravnu ovlast glede usmjeravanja ili poticanja u smislu usmjeravanja rukovodstva i vršenja poslovne politike te osobe, bilo kroz vlasništvo nad dionicama s pravom glasa, putem ugovora ili na bilo koji drugi način.

»valuta« znači državnu valutu ili ECU; izraz »državna valuta« označava kovanice ili valutu koja je zakonsko sredstvo plaćanja privatnih ili javnih dugova u rečenoj zemlji.

»razdoblje zateznih kamata« znači, s obzirom na iznos koji nije plaćen na vrijeme prema odredbama iz Ugovora o zajmu, razdoblje koje započinje prvim poslovnim danom kad se takva isplata smatra zakašnjelom, ili ovisno o slučaju razdoblje koje započinje posljednjim poslovnim danom prethodnog razdoblja zateznih kamata, a završava poslovnim danom po izboru Banke, ili, ovisno o slučaju, danom određenim u skladu s Odjeljkom 3.09.(d).

»stopa zateznih kamata« znači kamatnu stopu primjenjivu na iznose koji nisu plaćeni na vrijeme u skladu s Ugovorom o zajmu, odjeljak 3.09.

»povučena svota« znači korištenje dijela raspoloživog iznosa od strane Zajmoprimca, putem uplate ili uplata koje vrši Banka u korist Zajmoprimca, ili po nalogu Zajmoprimca.

»Priručnik o povlačenju EBRD« znači Priručnik povlačenja Banke u koji Banka unosi izmjene s vremena na vrijeme.

»Pravilnik nabave EBRD« odnosi se na ispravu o politici i pravilima nabave za projekte koje financira Europska banka za obnovu i razvoj, u koji Banka unosi izmjene s vremena na vrijeme.

»ECU« znači European Currency Unit kako je definiran u Europskom monetarnom sustavu.

»datum stupanja na snagu« znači datum kojim Ugovor o zajmu stupa na snagu u skladu s Odjeljkom 9.01.

»vanjski dug« znači svaki dug koji jest ili može postati plativ sredstvom plaćanja koje nije valuta člana.

»fiksna kamatna stopa« znači kamatnu stopu koja se povremeno plaća na zajam u skladu s Odjeljkom 3.04(a).

»početna naknada« znači naknadu određenu Odjeljkom 3.05(b).

»ugovor o jamstvu« se odnosi na ugovor sklopljen između Banke i člana koji daje jamstvo glede zajma. Takav ugovor podliježe promjenama od vremena do vremena. Ovaj izraz uključuje Opće odrednice koje se primjenjuju na Ugovor, sve dodatke Ugovoru o jamstvu, te sve ugovore nadodane ili uključene u okviru Ugovora o jamstvu.

»jamac« označuje člana banke koji je ugovorna strana u Ugovoru o jamstvu.

»ovlašteni predstavnik jamca« znači osobu na koju se odnosi odredba iz Odjeljka 10.02 i koja je tako određena Ugovorom o jamstvu.

»zaduživanje« uključuje preuzimanje duga ili jamstva za dug i svako obnavljanje, produženje ili izmjenu uvjeta dugovanja, preuzimanja duga ili jamstva za dug.

»datum određivanja kamate« znači da, ukoliko zajam podliježe promjenjivoj kamatnoj stopi, drugi poslovni dan prije početka relevantnog kamatnog razdogblja ili neki drugi dan određen Ugovorom o zajmu.

»datum plaćanja kamate« znači svaki dan koji pada na datum određen Ugovorom o zajmu, kojeg treba platiti kamate na zajam, a u slučaju da taj dan nije poslovni dan, datum plaćanja kamate postaje prvi slijedeći dan koji je poslovni dan.

»kamatno razdoblje« znači svako razdoblje koje započinje s datumom plaćanja kamata, a završava slijedećeg datuma plaćanja kamata, osim u slučaju da je prvo kamatno razdoblje primjenjivo na svaku svotu, u kojem slučaju ima slijedeće značenje:

(i) ako je takva svota obavljena najmanje petnaest (15) poslovnih dana koji su prethodili slijedećem datumu plaćanja kamate, razdoblje započinje datumom na koji je takva svota obavljena i završava slijedećim datumom plaćanja kamata; i

(ii) ako je takva svota obavljena manje od petnaest (15) poslovnih dana prije slijedećeg datuma plaćanja kamata, razdoblje započinje datumom kojeg je takva svota obavljena i završava slijedećeg datuma dospijeća plaćanja kamata koji nakon njega slijedi kao datum plaćanja kamata.

»kamatna stopa« znači fiksnu kamatnu stopu, promjenjivu kamatnu stopu ili obje, ovisno o tomu kako je određeno Ugovorom o zajmu.

»posljednji datum raspoloživosti« znači datum na koji se odnosi odredba Odjeljka 3.01 (a) i koji je određen Ugovorom o zajmu.

»pravo zapljene« uključuje založno pravo, zalog, terete, povlastice, i prava prvenstva bilo koje vrste i bilo koji dogovor s jednakim učinkom.

»zajam« označuje zajam koji se daje Ugovorom o zajmu.

»ugovor o zajmu« se odnosi na ugovor na koji se primjenjuju ove Opće odrednice, a takav ugovor podliježe promjenama od vremena do vremena. Izraz uključuje ove Opće odrednice primijenjene na ugovor, sve dodatke Ugovoru o zajmu, te sve ugovore pridodane Ugovoru o zajmu.

»valuta zajma« označuje valutu ili valute u kojima je zajam iskazan, a kako je određeno Ugovorom o zajmu.

»datum otplate zajma« znači bilo koji dan koji pada na jedan od datuma određenih Ugovorom o zajmu za otplatu temeljne glavnice zajma, osim ako taj dan nije poslovni dan u kojem je slučaju datum otplate zajma prvi slijedeći poslovni dan.

»marža« iznosi jedan posto (1%) godišnje.

»član« označuje člana Banke.

»minimalni iznos otkaza« znači iznos na koji se odnosi odredba Odjeljka 3.08 (a) (i) i koji je određen Ugovorom o zajmu.

»minimalna povučena svota« znači iznos na koji se odnosi odredba Odjeljka 3.01 (b) (ii) i koji je određen Ugovorom o zajmu.

»minimalni iznos predujma« znači iznos na koji se odnosi odredba Odjeljka 3.07 (d) (i) i koji je određen Ugovorom o zajmu.

»projekt« znači projekt za koji se daje zajam, opisan u Ugovoru o zajmu ili u Ugovoru o jamstvu, koji opis se može mijenjati dogovorom između ugovornih strana.

»ugovor o projektu« znači ugovor ili ugovore o projektu, ukoliko takav ili takvi postoje, opisani u Ugovoru o zajmu ili Garantnom ugovoru, koji se mogu izmijeniti s vremena na vrijeme; svaki takav izraz uključuje sve programe Projektnog ugovora kao i sve druge dodatne sporazume uz Ugovor o projektu.

»nositelj projekta« označuju osobu ili osobe, ako su odvojene od zajmoprimca, koje su odgovorne za provođenje projekta u smislu odredbi iz Ugovora o zajmu.

»javna dobra« označuje dobra u posjedu člana ili neke njegove političke ili administrativne podjedinice te bilo koje osobe koja je u vlasništvu ili pod nadzorom ili djeluje u korist člana odnosno njegove podjedinice, uključujući dobra u zlatu i stranoj valuti u posjedu institucije koja za člana obavlja funkciju centralne banke, stabilizacijskog valutnog fonda ili slično.

»obveza naknade« znači obvezu na koju se odnosi odredba u Odjeljku 3.02, uključujući »uvjetne obveze naknade« i »bezuvjetne obveze naknade« u onom smislu u kojem su ti izrazi korišteni u tom Odjeljku.

»relevantna tržišna kamatna stopa« znači tržišnu kamatnu stopu na koju se odnosi odredba Odjeljka 3.04 i koja je određena Ugovorom o zajmu.

»statuti« znače, u odnosu na Zajmoprimca (ukoliko isti nije i član) ili nositelja projekta, na osnivački statut, akt, odluku, povelju ili slični pravni instrument.

»podružnica« jedne osobe, znači svaku drugu osobu s pedeset posto (50%) kapitala u izravnom ili neizravnom vlasništvu osobe ili koja se inače nalazi pod efektivnim nadzorom naslovne osobe.

»porezi« uključuju namete, pristojbe, prireze i carine bilo koje vrste, bez obzira da li su na snazi na dan stupanja na snagu Ugovora o zajmu ili Ugovora o jamstvu, ili su pridodane naknadno.

»obrok« znači dio zajma koji je izražen određenom zajmovnom valutom ili kamatnom stopom kako je to određeno Ugovorom o zajmu.

»dodatni troškovi« označuju gubitak, dobitak ili trošak Banke koji nastaje uslijed promjene financijske pozicije ili pozicije strane valute, ili jednoga i drugoga, čiji teret je preuzela Banka radi davanja zajma ili nekog njegovog dijela.

»promjenjiva kamatna stopa« znači kamatnu stopu plativu za zajam, od vremena do vremena, u skladu s Odjeljkom 3.04 (b).

Zajmoprimac može s vremena na vrijeme podizati novac iz raspoloživog iznosa u skladu s Ugovorom o zajmu i slijedećim odredbama:

(a) Posljednji datum raspoloživosti (korištenja)

Pravo Zajmoprimca na podizanje iznosa iz raspoloživog iznosa prestaje sa posljednjim datumom raspoloživosti koji je određen Ugovorom o zajmu ili na neki kasniji datum ako Banka tako odredi. Banka će odmah izvijestiti Zajmoprimca ukoliko uspostavi takav kasniji datum.

(b) Zahtjevi za povlačenje sredstava

(i) Da bi se povukla sredstva, ovlašteni predstavnik zajmoprimca ili osoba koju takav predstavnik odredi predat će Banci zahtjev za povlačenje svote zajma. Svaki predani zahtjev za povlačenje svote zajma mora biti u skladu i u obliku koji propisuje Priručnik o povlačenju EBRD, te se ima predati Banci najmanje petnaest (15) poslovnih dana prije predloženog datuma valjanosti svote. Svaki zahtjev za povlačenje svote zajma mora imati zadovoljavajući sadržaj po kriteriju Banke te mora biti popraćena ispravama i drugim dokazima koji su po obliku i sadržaju zadovoljavajući dokaz Banci o tome da je Zajmoprimac ovlašten podignuti svotu zajma te da će se povučena svota koristiti isključivo u svrhu određenu Ugovorom o zajmu.

(ii) Osim u slučaju da se radi o zadnjem povlačenju svote zajma ili u slučaju da se Banka ne suglasi drukčije, iznosi mogu biti povučeni u svotama ne manjim od minimalne povučene svote određene Ugovorom o zajmu.

(c) Valuta povučene svote sredstava

Svote se povlače u valuti zajma u iznosu koji odgovara troškovima za financiranje iz sredstava zajma. U slučaju da su troškovi nastali u valuti ili valutama koje nisu valuta zajma, odgovarajuće veličine svote zajma se određuju kako slijedi:

(i) U slučaju da Zajmoprimac zatraži isplatu u valuti zajma, Banka određuje odgovarajuću svotu sredstava dva poslovna dana prije isplate.

(ii) Ukoliko Zajmoprimac traži isplatu u valuti ili valutama u kojima su troškovi nastali, a pod uvjetom da su ti troškovi nastali u brzo raspoloživoj valuti ili valuti člana, Banka otkupljuje tu valutu ili valute na način koji Banka smatra prikladnim. Odgovarajuću svotu sredstava Banka određuje na temelju troškova konverzije kojima se, ili kojima bi se bila Banka izložila pri uporabi valute zajma za podmirenje zahtjeva.

(d) Plaćanje u drugim valutama

U slučaju nastupa posebnih okolnosti, Banka može povoljno riješiti zahtjev Zajmoprimca glede vršenja isplate u valuti ili valutama koje nisu zajmovna valuta ili valuta troškova. U tom slučaju Banka otkupljuje tu valutu ili valute na način koji Banka smatra prikladnim. Banka određuje odgovarajuću veličinu svote na temelju troškova konverzije kojima se, ili kojima bi se, Banka izložila u slučaju uporabe zajmovne valute glede podmirenja zahtjeva.

Na zahtjev Zajmoprimca te pod uvjetima o kojima se suglase Zajmoprimac i Banka, Banka može u skladu s odredbama Priručnika o povlačenju EBRD izdati uvjetne ili bezuvjetne obveze naknade radi nadoknade isplata koje su izvršile banke po akreditivima s obzirom na troškove koji se financiraju iz zajma. Svaka takva naknada predstavlja svotu.

(a) U slučaju uvjetne obveze naknade:

(i) obveza Banke glede isplata se odgađa ili ukida neposredno nakon bilo kakve odgode ili otkaza zajma od strane Banke, sukladno Odjeljku 7.01 ili 7.02; i

(ii) ugovorna pristojba Banke na iznos uvjetne obveze naknade određuje se i plaća u iznosu i na način kako je navedeno u Odjeljku 3.05(a).

(b) U slučaju bezuvjetne obveze naknade:

(i) na obvezu Banke za isplatu na utječe nikakva kasnija odgoda ili otkaz zajma; i

(ii) pristojba koja odgovara marži plaća se umjesto obvezne pristojbe označene u Odjeljku 3.05(a). Pristojba se pribrojava od dana izdavanja bezuvjetne obveze naknade na neplaćeni iznos glavnice i izračunat će se na temelju (x) godine od 365 dana, ako je zajam podložan fiksnoj kamatnoj stopi ili ako je zajmovna valuta britanska funta, ili na temelju (y) godine od 360 dana u svim drugim slučajevima, a za stvarni broj dana proteklih u relevantnom razdoblju. Prisojba bezuvjetne obveze naknade je plativa svakog datuma na koji pada plaćanje kamata, počevši od prvog dana plaćanja kamata nakon izdavanja bezuvjetne obveze naknade.

Ukoliko Banka procijeni da iznos zajma raspoređen za svaku kategoriju svote sredstava određenu Ugovorom o zajmu nije dostatan za financiranje dogovorenog postotka troškova u toj kategoriji, Banka putem takve obavijesti Zajmoprimcu može:

(a) preraspodijeliti za tu kategoriju, u iznosu potrebnom za podmirenje procijenjenog manjka, iznos zajma koji je prije preraspodjele bio raspodjeljen za drugu kategoriju, te koji iznos, po mišljenju Banke, nije potreban za podmirenje drugih troškova; i

(b) ukoliko preraspodijeljeni iznos ne može u potpunosti podmiriti procijenjeni manjak, smanjiti postotak troškova koje treba financirati kako bi se slijedeće svote u toj kategoriji mogle nastaviti dok se ne ostvare svi izdaci iz te kategorije.

U slučaju da se preraspodjela odvija u skladu s gore navedenim stavkom (a), Zajmoprimac može zatražiti od Banke poduzimanje daljnje preraspodjele u ekvivalentnom iznosu sredstava zajma u drugu kategoriju, prema međusobnom dogovoru Zajmoprimca i Banke.

Osim u slučaju kako je određeno odredbama Odjeljka 2.09:

(a) Ukoliko zajam podliježe fiksnoj kamatnoj stopi, kamate na zajam su plative kako slijedi:

(i) Na neotplaćenu glavnicu zajma iz koje se povremeno povlače svote sredstava, zaračunava se kamata tijekom relevantnog kamatnog razdoblja po fiksnoj kamatnoj stopi određenoj Ugovorom o zajmu.

(ii) Kamate se računaju dnevno, izračunavaju na temelju godine od 365 dana za stvarni broj dana uključujući prvi dan, ali isključujući posljednji dan relevantnog kamatnog razdoblja. Kamate dospijevaju za plaćanje na dan plaćanja kamate na kraju relevantnog kamatnog razdoblja.

(iii) Fiksna kamatna stopa predstavlja zbroj marže i relevantne tržišne kamatne stope određene Ugovorom o zajmu.

(b) Ako zajam podliježe promjenjivoj kamatnoj stopi, kamata na zajam se određuje i plaća na slijedeće načine:

(i) Na neotplaćenu glavnicu zajma od koje se povremeno povlače svote pripisuje se kamata tijekom relevantnog kamatnog razdoblja po promjenjivoj kamatnoj stopi, izračunatoj u skladu s ovim Odjeljkom.

(ii) Kamate se pripisuju dnevno izračunate na temelju godine od 360 dana (osim ako je zajmovna valuta britanska funta, u kojem se slučaju kamate izračunavaju na temelju godine od 365 dana) za stvarni broj dana uključujući prvi dan, ali isključujući posljednji dan relevantnog kamatnog razdoblja. Kamata dospijeva za plaćanje na dan plaćanja kamata na kraju relevantnog kamatnog razdoblja.

(iii) Promjenjiva kamatna stopa je zbroj marže i relevantne tržišne kamatne stope određene Ugovorom o zajmu.

(iv) Na svaki datum utvrđivanja kamate Banka određuje promjenjivu kamatnu stopu primjenjivu na relevantno kamatno razdoblje te odmah o tome izvješćuje Zajmoprimca i Jamca.

(a) Zajmoprimac plaća Banci ugovornu pristojbu po stopi određenoj Ugovorom o zajmu, plativu na ukupni raspoloživi iznos plus svaki iznos zajma koji podliježe uvjetnoj obvezi naknade, a još nije povučen u svotama zajma. Ugovorna pristojba se pripisuje od datuma koji pada na šezdeseti (60.) dan po sklapanju Ugovora o zajmu i razmjerno se dijeli po istoj osnovi kao i pripis kamate iz Odjeljka 3.04 (b)(ii). Ugovorna pristojba je plativa na svaki datum plaćanja kamate, počevši od prvog datuma plaćanja kamate, od dana stupanja Ugovora na snagu. Svaka prilagodba iznosa koji se treba isplatiti Banci, a koja može nastati uslijed svoti zajma obavljenih neposredno prije datuma plaćanja kamata može se napraviti u skladu s postupcima koje Banka određuje za tu svrhu, a koji su propisani Priručnikom o povlačenju EBRD.

(b) U roku od sedam (7) dana po danu stupanja na snagu, Zajmoprimac isplaćuje banci početnu naknadu koja je jednaka jednom postotku (1%) (ili drugom takvom iznosu određenom Ugovorom o zajmu) glavnice zajma.

Glavnica zajma i kamate na zajam dospijevaju i plativi su na način i u rokovima određenim Ugovorom o zajmu.

(a) Zajmoprimac može predujmom platiti dio glavnice u svoti zajma, a neotplaćen skupa s pripisanim a neotplaćenim kamatama na svaki datum plaćanja kamata, ali ne manje od trideset (30) poslovnih dana prije upućivanja pismene obavijesti Banci u tom smislu.

(b) Zajmoprimac plaća Banci, na dan plaćanja predujmom, administrativnu pristojbu na plaćanje predujmom u iznosu od jedne osmine od jedan posto (0,125%) iznosa glavnice zajma koji se plaća predujmom.

(c) Kod svakog plaćanja predujmom u skladu sa stavcima (a) i (b), ukupne moguće dodatne troškove koje je Banka procijenila i o kojima je obavijestila Zajmoprimca plaća ili Zajmoprimac ili Banka, ovisno o slučaju.

(d) U slučaju djelomičnog plaćanja predujmom, takvo plaćanje predujmom

(i) može biti u iznosu koji je najmanje isti ili niži od slijedećih

(A) iznosa minimalnog iznosa plaćanja predujmom određenog Ugovorom o zajmu i

(B) ukupnog iznosa glavnice zajma, koji je povučen u svoti i neotplaćen skupa s pripisanim i neplaćenim kamatama i drugim troškovima, pa

(ii) će se:

(A) prvo primijeniti na takav način da se najprije plate pripisane i neplaćene kamate i drugi troškovi i

(B) drugo, ravnomjerno podijeliti na nekoliko rokova dospijeća iznosa glavnice zajma, koji je povučen u svoti a neotplaćen.

(a) Zajmoprimac može otkazati svaki dio raspoloživog iznosa na svaki dan plaćanja kamata ne manje od trideset (30) poslovnih dana prije obavijesti Banci u pisanom obliku. Takav otkaz može biti za iznos najmanje isti ili niži od slijedećih:

(i) minimalnog iznosa otkaza određenog Ugovorom o zajmu, i

(ii) raspoloživog iznosa.

(b) U slučaju otkaza od strane Zajmoprimca, u skladu sa stavkom (a) ovog Odjeljka, ili od strane Banke, u skladu s Odjeljkom 7.02:

(i) Zajmoprimac isplaćuje Banci, na dan otkaza, otkaznu pristojbu u iznosu od jedne osmine od jedan posto (0,125%) iznosa glavnice zajma koji se otkazuje;

(ii) za svaki otkaz u skladu sa stavkom (a), Zajmoprimac ili Banka, ovisno o slučaju, moraju platiti ukupne eventualne dodatne troškove, prema procjeni Banke, koja će o tomu izvijestiti Zajmoprimca;

(iii) otkazani iznos će se odbiti od preostalog raspoloživog iznosa na dan otkaza; i

(iv) otkazani iznos će se ravnomjerno podijeliti na nekoliko rokova dospijeća iznosa glavnice zajma, kako je određeno rasporedom amortizacije Ugovora o zajmu, a koji dospijevaju nakon takvog otkaza.

(a) Ukoliko Zajmoprimac propusti platiti bilo koji iznos koji je plativ prema Ugovoru o zajmu, dugu se pripisuju kamate po stopi relevantne zatezne kamate, izračunate u skladu s ovim Odjeljkom.

(b) Zatezne kamate:

(1) se pripisuje svakodnevno od roka dospijeća do dana stvarnog podmirenja;

(2) su ravnomjerno raspodijeljene na temelju godine od 360 dana za stvarni broj dana u relevantnom razdoblju zateznih kamata;

(3) će se ukamaćivati na kraju svakog razdoblja zateznih kamata; i

(4) plative su odmah po zahtjevu.

(c) Osim u slučaju kako je određeno stavkom (d) ovog Odjeljka, stopa zatezne kamate predstavlja zbroj od:

(i) dva posto (2%) godišnje,

(ii) marže, i

(iii) kamatne stope ponuđene na Londonskom međubankovnom tržištu za depozit u valuti zajma u iznosu koji je usporediv s iznosom neplaćenog duga za razdoblje jednako relevantnom razdoblju zateznih kamata;

ali pod uvjetom da, ukoliko Banka utvrdi da na Londonskom međubankovnom tržištu nema depozita u valuti zajma u takvim iznosima ili za takvo razdoblje, stopa zatezne kamate se određuje s obzirom na troškove sredstava Banke iz izvora prema njenom nahođenju.

(d) Ukoliko je iznos duga glavnica zajma u odnosu na zajam, ili njegov dio, na koje se primjenjuje promjenjiva kamatna stopa, te ako taj iznos dospijeva na datum koji nije datum plaćanja kamata, prvo razdoblje zateznih kamata završava slijedećeg datuma plaćanja kamate, a stopa zateznih kamata tijekom tog razdoblja je zbroj:

(1) iznosa od dva posto (2%) godišnje,

(2) promjenjive kamatne stope primjenjive na iznos neposredno prije dospijeća.

(e) Svaka odluka Banke glede razdoblja zateznih kamata i stope zateznih kamata je konačna, izvršna i obvezujuća za Zajmoprimca.

(a) Plaćanje glavnice, kamate, ugovorne pristojbe, početne naknade, administrativne pristojbe na plaćanje predujmom, zateznih kamata iz Odjeljka 3.09, dodatnih troškova i svakog drugog duga Banci prema Ugovoru o zajmu, obavlja se u valuti zajma, u vrijednosti na dan dospijeća, kod banke ili banaka, te na mjestu ili mjestima, kako to odredi Banka s vremena na vrijeme.

(b) Ukoliko neki dan plaćanja prema Ugovoru o zajmu nije poslovni dan, plaćanje će se izvršiti prvog slijedećeg poslovnog dana, dok će se kamate (ili Ugovorna pristojba, ovisno o slučaju) nastavljati pripisivati za razdoblje od tog dana do slijedećeg poslovnog dana. Na zahtjev Zajmoprimca, a uz suglasnost Banke, plaćanje se može obaviti jednog ranijeg dana, u skladu s dogovorom ugovornih strana.

(a) Banka, Zajmoprimac i Jamac u potpunosti će surađivati radi ostvarenja ciljeva za koje je zajam odobren. U tu svrhu Banka, Zajmoprimac i Jamac:

(i) povremeno, a na zahtjev bilo kojeg od njih, razmjenjuju gledišta u svezi s napretkom projekta, ciljeva za koje je zajam osiguran, provedbe njihovih pojedinačnih obveza po Ugovoru o zajmu i Ugovoru o jamstvu, kao i poslovanje Nositelja projekta po Ugovoru o projektu i svakom ugovoru s tim u svezi, te će drugim ugovornim stranama dostavljati sve relevantne obavijesti u svezi s navedenim pitanjima, a koje su zatražene u razumnom obimu; i

(ii) bez odlaganja izvijestiti jedna drugu glede bilo kakvog slučaja koji ometa, ili prijeti ometanjem, gore navedenom u stavku (i).

(b) Zajmoprimac je dužan hitno izvijestiti Banku o bilo kakvoj predloženoj promjeni prirode ili opsega projekta, poslova ili operacija nositelja projekta, te o svakom slučaju ili okolnosti koji bi mogli materijalno utjecati na provedbu projekta, na provedbu poslova ili rada Nositelja projekta.

(c) Jamac ne smije poduzimati nikakve mjere, niti dozvoliti nekome od svojih agenata ili podružnica da poduzmu kakve mjere koje bi spriječile ili ometale ili provedbu projekta, ili učinkovito djelovanje projektnih pogona ili izvršenje Zajmoprimčevih obveza prema Ugovoru o zajmu. Ukoliko je jamac član, također se mora pobrinuti da se ne poduzmu mjere, ili da se ne dopusti poduzimanje takvih mjera, od strane njegovih političkih ili administrativnih jedinica, ili bilo koje osobe koja je u njegovom vlasništvu ili pod njegovim nadzorom, ili koja djeluje u njegovo ime i u njegovu korist.

(a) Zajmoprimac je obvezan provoditi projekt ili pobrinuti za njegovo provođenje s dužnom gospodarskom odgovornošću i učinkovitošću, a u skladu s ekološkim i drugim relevantnim standardima i praksom, te osigurati, u najkraćem mogućem roku, sredstva, zemljište, pogone, usluge i druge izvore koji su mu u tu svrhu potrebni.

(b) Ukoliko postoji Ugovor o projektu koji Nositelju projekta određuje djelomičnu ili potpunu odgovornost za izvršenje projekta, Zajmoprimac će:

(i) se pobrinuti da Nositelj projekta, u skladu s odredbama Ugovora o projektu, vrši sve obveze Nositelja projekta određene Ugovorom; i

(ii) neće poduzimati ili dozvoliti poduzimanje mjera koje bi mogle spriječiti ili ometati takvu provedbu.

(c) Bez ograničavanja opće valjanosti stavaka (a) ili (b), Zajmoprimac će poduzeti ili potaknuti poduzimanje svih mjera potrebnih za nabavu, prema potrebi, zemljišta i zemljišnih prava, koja će biti potrebna za provedbu projekta, te će dostaviti Banci, odmah po njenom zahtjevu, zadovoljavajuće dokaze o dostupnosti zemljišta i zemljišnih prava u te svrhe.

(d) Zajmoprimac će osigurati, ili će naložiti da se osiguraju ili Banci dostave zadovoljavajući dokazi glede osiguranja:

(i) uvezene robe koja se financira iz sredstava Zajma za projekt, protiv rizika nastalih tijekom dobave, transporta i isporuke istih na mjesto korištenja ili ugradbe (i, gdje je to primjenjivo, protiv rizika tijekom razdoblja gradnje), a odšteta u takvoj premiji osiguranja treba biti plativa u valuti potrebnoj za zamjenu ili popravak takvih dobara; i

(ii) svih drugih stavki koje su u svezi s financijskom ili tehnološkom održivosti projekta i koje su u vlasništvu ili pod nadzorom Zajmoprimca.

(e) Zajmoprimac tijekom cijelog projekta upravlja i održava, ili osigurava upravljanje i održavanje u dobrom radnom stanju svih pogona koji se odnose na projekt, te će, po potrebi, pravodobno poduzeti ili osigurati pravodobno poduzimanje svih potrebnih popravaka i obnova pogona.

(f) Zajmoprimac osigurava da se sva roba, rad i usluge, koji se financiraju iz sredstava zajma za projekt, rabe isključivo u svrhu projekta.

Osim ako se s Bankom ne sklopi drukčiji ugovor, nabava robe, radova i usluga, uključujući usluge savjetnika, koji su potrebni za projekt i koji se financiraju iz sredstava zajma, uređeni su Pravilima nabave EBRD i odredbama određenim Ugovorom o zajmu.

(a) Zajmoprimac je obvezan s obzirom na one dijelove projekta za koje je izravno odgovoran, a u skladu s odredbama iz Ugovora o zajmu:

(i) obavljati odgovarajuće postupke i dokumentaciju potrebnu za nadgledanje provedbe projekta (uključujući troškove i korist koja iz njih proizlazi), utvrditi sve robe, radove i usluge koji se financiraju iz sredstava Zajma, utvrditi njihovu uporabu u projektu, te istu evidenciju dati na uvid predstavnicima Banke na njen zahtjev;

(ii) omogućiti predstavnicima Banke, na njen zahtjev,

(A) posjetu svim pogonima i gradilištima koja su u svezi s projektom,

(B) pregled sve robe, svih radova i usluga koji se financiraju iz sredstava Zajma, te sve objekte, pogone, lokacije, zgrade, posjede, opremu, evidenciju i dokumentaciju koji se odnose na izvršavanje obveza Zajmoprimca prema Ugovoru o zajmu, i

(C) da se u svezi s gore navedenim sastane i vodi razgovore s predstavnicima i djelatnicima Zajmoprimca, prema tomu kako to Banka smatra potrebnim i primjerenim;

(iii) predstavnicima Banke dostaviti sva izvješća i obavijesti koje Banke može zahtijevati u svezi s projektom, uključujući obavijesti o zaštiti okoliša koje su u svezi s projektom, o troškovima i, kada je to primjereno, dobitku proizašlom iz njih, trošenju sredstava Zajma, te evidenciju svih roba, rada i usluga, koji se financiraju iz tih sredstava;

(iv) bez ograničavanja opće valjanosti gore navedenog stavka (a) (iii), osim u slučaju kada se s Bankom ne sklopi drukčiji ugovor, dostaviti Banci ili osigurati dostavljanje redovitih izvješća o projektu u onom obliku koji je za Banku zadovoljavajući i u vremenskim razmacima određenim Ugovorom o zajmu, ukazujući, između ostaloga, na napredak i probleme tijekom prikazanog razdoblja, poduzete korake ili predložene mjere za rješavanje tih problema, te predloženi program djelatnosti i očekivani napredak tijekom slijedećeg razdoblja; i

(v) dostaviti ili osigurati dostavljanje predstavnicima Banke odmah po dovršetku svih planova, specifikacija, izvješća, ugovornih dokumenata, te rasporeda gradnje i nabave za projekt, kao i svih materijalnih izmjena i dodataka projektu sa svim podrobnostima koje Banka zahtijeva.

(b) Po sklapanju svakog ugovora za robu ili usluge koje se trebaju financirati iz sredstava Zajma, Banke može obavljati opis istoga, ime i nacionalnost stranke kojoj je ugovor dodijeljen, kao i ugovornu cijenu.

(c) Odmah nakon

(i) bilo izvršenja projekta, ili

(ii) nakon što je puni iznos zajma ili povučenu svotu ili opozvan, ali u svakom slučaju ne kasnije od šest mjeseci nakon zadnjeg dana raspoloživosti zajma ili kasnijeg dana, ako Banka tako odobri,

Zajmoprimac će pripremiti i dostaviti Banci izvješće, u obliku koji zadovoljava Banku onakvog opsega i s takvim podrobnostima kako Banka zatraži glede izvršenja i početnog poslovanja projekta, uključujući obavijesti o ekološkim pitanjima u svezi s projektom, o troškovima i dobitku koji može iz projekta proizaći, ili je proizašao, o izvršenju obveza Zajmoprimca i Banke prema Ugovoru o zajmu, te o ispunjenju ciljeva za koje se zajam daje.

(a) Član se obvezuje da nikakav vanjski dug člana neće dobiti prioritet nad Zajmom pri raspodjeli, uporabi ili distribuciji deviznih sredstava pod nadzorom, ili u korist člana. U slučaju da se mora primijeniti založno pravo nad nekim javnim sredstvom kao zalog za bilo kakav vanjski dug koji bi rezultirao, ili bi mogao rezultirati, dodjelom prioriteta pri raspodjeli, uporabi ili distribuciji deviza u korist vjerovnika tog duga, takvo založno pravo nad imovinom, osim ako se Banka ne suglasi drukčije, ipso facto, i bez troškova za Banku, ima jednako i procjenjivo pravo biti jamstvom glavnice Zajma, kao i kamate i ostalih pristojbi u svezi s zajmom, a član se izričito obvezuje u tom smislu time što stvara ili omogućava stvaranje takvog založnog prava; međutim, ukoliko iz bilo kojeg ustavnog ili zakonskog razloga članu nije moguće donijeti takvu obvezu za založno pravo nad sredstvima neke svoje političke ili upravne jedinice, član je dužan odmah, i bez troškova za Banku, osigurati glavnicu, kao i kamate i ostale pristojbe na zajam putem ekvivalentnog založnog prava nad nekim drugim javnim sredstvom, a da to pritom bude zadovoljavajuće za Banku.

(b) Gore navedeno ne primjenjuje se na:

(i) založna prava nad imovinom koja su nastala u vrijeme kupovine iste, i to isključivo kao jamstvo za plaćanje nabavne cijene te imovine ili kao jamstvo plaćanja duga nastalog u svrhu financiranja kupovine te imovine; te

(ii) prava zapljene nastala tijekom svakodnevnih bankovnih transakcija i osiguravanja duga koji dospijeva za ne više od godinu dana nakon izdavanja.

(a) Član je obvezan pružiti Banci sve moguće obavijesti koje Banka zatraži u razumnom obimu:

(i) u svezi s financijskim i gospodarstvenim uvjetima na teritoriju člana, uključujući platnu bilancu i vanjski dug člana, kao i vanjski dug svojih političkih i upravnih jedinica, te bilo kojeg tijela u vlasništvu ili pod nadzorom, ili pak koje djeluje za račun ili u korist člana ili neke od tih jedinica, te bilo koje ustanove koja vrši funkcije centralne banke, deviznog stabilizacijskog fonda, ili slične funkcije za člana; te

(ii) u svezi s gospodarstvenim reformama i mjerama provođenja prijelaza na tržišno gospodarstvo, uključujući i restrukturiranje i privatizaciju u svim sektorima gospodarstva koji bi mogli biti od utjecaja na Projekt, kao i reforme u okviru zakona i propisa za takav sektor.

(b) Član je obvezan pružiti predstavnicima Banke, u razumnom obimu, prilike za posjetu bilo kojem dijelu svog teritorija u svrhe koje se odnose na zajam ili projekt.

(c) Zajmoprimac i Nositelj projekta dužni su, u onoj mjeri koja je određena Ugovorom o zajmu, za cijelo vrijeme dok cjelokupni iznos zajma nije otplaćen ili otkazan, pružiti ili omogućiti Banci uvid u:

(i) vremenski redovita financijska izvješća i izvješća koja se odnose na financijske odredbe Ugovora o zajmu;

(ii) vremenski redovita izvješća, u obliku u kojem to zahtijeva Banka, o radu i održavanju objekata projekta; te

(iii) godišnja izvješća koja se odnose na ekologiju okoliša te pitanja zdravstvene zaštite i sigurnosti djelatnika koja se odnose na djelatnost Zajmoprimca.

(a) Član je obvezan osigurati:

(i) da iznos glavnice zajma kao i kamate i ostale pristojbe s tim u svezi budu izuzeti od poreza, i plaćaju se bez odbitaka za isti, a koji se ubire za člana ili ubire na njegovom području; i

(ii) da Ugovor o zajmu, Ugovor o jamstvu te bilo koja druga isprava s time u svezi na koji se primjenjuju ove Opće odrednice bude oslobođena od bilo kojeg poreza kojeg ubire član, ili koji se ubire na njegovom teritoriju, pri provedbi, uručenju, registraciji navedenih isprava ili u svezi s navedenim postupcima.

(b) Sredstva zajma ne povlače se u svotama na račun plaćanja za bilo koje poreze koje ubire član, ili koji se ubiru na njegovom teritoriju.

(c) Banka može, putem obavijesti Zajmoprimcu, povećati ili smanjiti postotak izdataka koji se financiraju iz bilo koje kategorije, u slučaju potrebe usklađivanja sa stavkom (b) ovog Odjeljka.

Član je obvezan osigurati plaćanje glavnice, kao i kamata i ostalih pristojbi na zajam, bez ograničenja bilo kakve vrste koje nameće član, ili koje su nametnute na području člana.

(a) Banka može, putem obavijesti Zajmoprimcu i Jamcu u cijelosti ili dijelom obustaviti pravo Zajmoprimca na povlačenje svota Zajma ukoliko se pojavi i potraje neki od slijedećih slučajeva:

(i) ako Zajmoprimac propusti izvršiti plaćanje (bez obzira na činjenicu da je to plaćanje možda izvršio Jamac ili treća osoba) glavnice ili kamata ili bilo kojeg drugog iznosa koji duguje Banci,

(A) prema Ugovoru o zajmu, ili

(B) prema bilo kojem drugom ugovoru o zajmu ili jamstvu sklopljenom između Banke i Zajmoprimca, ili

(C) prema bilo kojoj obvezi naknade ili sličnoj obvezi Zajmoprimca, proizašloj iz bilo kojeg jamstva ili drugog financiranja bilo koje vrste, a koje banka pruža bilo kojoj trećoj osobi;

(ii) ako Zajmoprimac propusti izvršiti plaćanje glavnice, kamata ili bilo kojeg drugog iznosa koji duguje Banci,

(A) prema Ugovoru o jamstvu; ili

(B) prema bilo kojem drugom ugovoru o zajmu ili o jamstvu sklopljenom s Bankom; ili

(C) prema bilo kojoj obvezi naknade ili sličnoj obvezi Jamca, proizašloj iz bilo kojeg jamstva ili drugog financiranja bilo koje vrste, a koje banka pruža nekoj trećoj osobi;

(iii) ako Zajmoprimac ili Jamac propuste ispuniti bilo koju drugu obvezu prema Banci proizašlu iz ugovora između Zajmoprimca ili Jamca i Banke, ili prema članku 21.2. Ugovora o osnivanju Banke;

(iv) ako Nositelj projekta propusti izvršiti neku od svojih obveza proizašlih iz Ugovora o projektu;

(v) ako je Banka djelomično ili u cijelosti obustavila prava Zajmoprimca ili Jamca na podnošenje zahtjeva za svote zajma prema nekom drugom ugovoru s Bankom zbog propusta Zajmoprimca ili Jamca glede izvršenja bilo koje od obveza prema takvom ugovoru s Bankom ili po bilo kojem ugovoru o jamstvu s istom;

(vi) ako je nastala neka izvanredna situacija kao posljedica slučaja koji su se dogodili nakon datuma Ugovora o zajmu, a koja otežava provedbu projekta, ili pak Zajmoprimcu ili Jamcu onemogućava ispunjenje obveza u skladu s Ugovorom o zajmu ili Ugovorom o jamstvu;

(vii) ako je članstvo Zajmoprimca ili Jamca u Banci obustavljeno, ili su prestali biti članovima, ili su uručili Banci obavijest o povlačenju iz članstva;

(viii) ako se tijekom razdoblja između datuma Ugovora o zajmu i njegovog stupanja na snagu dogodila neka okolnost koja bi Banci dala pravo suspenzije prava Zajmoprimca na podnošenje zahtjeva za svote zajma u slučaju da je Ugovor o zajmu već bio na snazi onog dana kad je takva okolnost nastupila;

(ix) ako Zajmoprimac nije član, svaka promjena materijalnog stanja Zajmoprimca koja se razlikuje od one prikazane na datum sklapanja Ugovora o zajmu, morala je biti prije stupanja na snagu Ugovora o zajmu;

(x) ukoliko je Zajmoprimac ili Jamac netočno ili na lažan način u bilo kojem materijalnom pogledu prikazao stanje u svezi s Ugovorom o zajmu ili Ugovorom o jamstvu;

(xi) ukoliko je nastao bilo kakav slučaj opisan u Odjeljku 7.06(c), (d) ili (e);

(xii) ako je Banka obustavila ili na neki drugi način izmijenila pravo na pristup sredstvima Banke bilo kojeg člana koji je ugovorna strana u Ugovoru o zajmu ili Ugovoru o jamstvu, što bi proizlazilo iz odluke Odbora guvernera Banke, prema članku 8.3. Ugovora o osnivanju Banke; ili

(xiii) ukoliko nastupi bilo koja druga okolnost navedena u Ugovoru o zajmu glede ovog Odjeljka.

(b) Pravo Zajmoprimca na povlačenje svota zajma ostaje obustavljeno, dijelom ili u cijelosti, ovisno o okolnosti sve dok okolnost ili okolnosti koji su bili povodom obustavi ne prestanu postojati, osim ako Banka nije obavijestila Zajmoprimca da je pravo na povlačenje svota obnovljeno; ovo, međutim, pod uvjetom da se pravo na povlačenje svota obnavlja samo u onoj mjeri i uz one uvjete kako je to takvom obavijesti utvrđeno, te da niti jedna od rečenih obavijesti ne utječe a niti ublažava ikakvo pravo, ovlast ili pravni lijek Banke u odnosu na bilo koju kasniju okolnost opisanu u ovom Odjeljku.

(a) Ukoliko:

(i) po isteku zadnjeg dana raspoloživosti korištenja preostali raspoloživ iznos nije povučen u svoti, taj se iznos otkazuje.

(ii) Banka, po savjetovanju s Zajmoprimcem i Jamcem, u bilo koje vrijeme odredi da iznos zajma neće biti potreban glede financiranja troškova projekta koji bi se trebali financirati iz sredstava Zajma, Banka može putem obavijesti Zajmoprimcu i Jamcu taj iznos Zajma otkazati.

(b) Ukoliko je pravo Zajmoprimca na povlačenje bilo kojeg dijela Zajma obustavljeno u neprekidnom trajanju od trideset (30) dana, Banka može, putem obavijesti Zajmoprimcu i Jamcu, taj iznos Zajma otkazati.

(c) Ukoliko:

(i) Banka u bilo koje vrijeme odredi da nabava neke stavke nije sukladna procedurama utvrđenim Ugovorom o zajmu odnosno onima na koje se isti odnosi, te utvrdi iznos izdataka za takvu stavku, a koja stavka bi inače imala pravo biti financirana iz sredstava Zajma, ili

(ii) Banka u bilo koje vrijeme utvrdi da su novčana sredstva povučena po zajmu korištena u neke druge svrhe osim onih predviđenih Ugovorom o zajmu i utvrdi iznos uporabljen u te druge svrhe.

Banka može putem obavijesti Zajmoprimcu i Jamcu otkazati ekvivalentan iznos zajma. Takav otkaz stupa na snagu po predaji obavijesti.

Na iznose koji podliježu bezuvjetnoj obvezi naknade u koju je Banka ušla u skladu s Odjeljkom 3.02(b), ne primjenjuje se otkaz niti obustava, osim ako to tom obvezom nije izričito predviđeno.

Usprkos eventualnim otkazima ili obustavama sve odredbe Ugovora o zajmu i Ugovora o jamstvu ostaju u potpunosti na snazi osim ako to Ugovorom nije drukčije određeno.

Ukoliko Zajmoprimac ne izvrši plaćanje glavnice ili kamata, ili nekog drugog plaćanja predviđenog Ugovorom o zajmu (osim ukoliko to nije rezultat djela ili propusta Jamca), te ukoliko je takvo plaćanje izvršio Jamac, Jamac u dogovoru s Bankom može, putem obavijesti Banci i Zajmoprimcu, prekinuti svoje obveze proizašle iz Ugovora o jamstvu za bilo koji iznos Zajma koji nije povučen prije dana kojeg je Banka primila obavijest u tom smislu, a koji iznos ne podliježe bilo kojoj bezuvjetnoj obvezi naknade koju izdaje Banka u skladu s Odjeljkom 3.02(b). Obveze Jamca u odnosu na taj iznos prestaju onda kada Banka primi o tom obavijest.

Ukoliko se pojavila, te se nastavi pojavljivati tijekom niže navedenog razdoblja neka od slijedećih okolnosti, u bilo koje vrijeme njenog trajanja, uz obavijest Zajmoprimcu i Jamcu Banka može proglasiti neotplaćenu glavnicu Zajma dospjelom i plativom odmah skupa s kamatama te ostalim pristojbama s time u svezi, a nakon takvog proglašenja iznos glavnice skupa s kamatama i ostalim pristojbama smatra se dospjelim i mora se odmah platiti.

(a) bilo koja od okolnosti navedenih u Odjeljku 7.01(a)(i) ili (ii), koja se dogodila i nastavila se događati tijekom petnaest (15) dana od datuma nastupa takve okolnosti;

(b) ukoliko se pojavila neka od okolnosti navedenih u Odjeljku 7.01(a)(iii) ili (iv), a koja se dogodila i trajala trideset (30) dana po obavijesti Banke Zajmoprimcu i Jamcu;

(c) ukoliko se proglasi dospijeće i plaćanje nekog vanjskog duga Zajmoprimca ili Jamca prije određenog dospijeća istoga,

(d) ukoliko Zajmoprimac (ako ovaj nije član) ili Nositelj projekta ne mogu platiti svoje dugove u skladu s njihovim dospijećem ili ukoliko je Zajmoprimac, Nositelj projekta ili netko treći poduzeo korake ili postupke prema kojima se bilo kakva sredstva Zajmoprimca ili Nositelja projekta moraju ili mogu razdijeliti vjerovnicima;

(e) ukoliko su vlasti ili tijela koja vrše nadzor nad Zajmoprimcem ili Nositeljem projekta ili u čijoj su isti nadležnosti poduzeli određene korake za raspuštanje ili ukidanje, ili za obustavu poslovanja Zajmoprimca (koji nije član) ili Nositelja projekta; ili

(f) ukoliko se dogodi bilo kakav drugi slučaj naveden u Ugovoru o zajmu u svezi s ovim Odjeljkom, te se isti nastavi događati tijekom razdoblja određenog Ugovorom o zajmu, ukoliko je takvo vremensko razdoblje specificirano.

Prava i obveze ugovornih stranaka iz Ugovora o zajmu, te Ugovora o jamstvu valjana su i provediva u skladu s uvjetima, bez obzira na eventualne mjesne zakone kojima je propisano suprotno. Ni jedna stranka iz bilo kojeg od ovih ugovora nije, ni pod kojim uvjetima, ovlaštena proglašavati bilo koju odredbu nekog od ovih ugovora nevaljanom ili neprovedivom, iz bilo kojeg razloga.

Obveze Jamca proizašle iz Ugovora o jamstvu ne mogu se otplatiti osim izvršenjem istih i to samo do iznosa njihovog izvršenja. Te obveze ne podliježu prethodnoj obavijesti u tom smislu, zahtjevu ili pokretanju postupka protiv Zajmoprimca, kao ni prethodnoj obavijesti u tom smislu Jamcu, postavljanja zahtjeva prema istom, a u svezi s bilo kakvim propustom Zajmoprimca glede plaćanja, te ih se ne smije ublažiti ni na koji od slijedećih načina, produženjem roka, ustupkom ili koncesijom Zajmoprimcu; primjenjivanjem ili propustom primjenjivanja ili prekasnim primjenjivanjem bilo kojeg prava, ovlasti ili pravnog lijeka protiv Zajmoprimca ili u odnosu na bilo koje jamstvo Zajma; izmjenama ili proširivanjem uvjeta koje Ugovor o zajmu predviđa; ili bilo kakvim propustom Zajmoprimca glede ispunjenja zahtjeva koji bi proizašao iz zakona, propisa ili uredbe Jamca odnosno neke političke institucije ili agencije Jamca.

Zakašnjela primjena ili izostanak primjene bilo kakvog prava, ovlasti ili pravnog lijeka koji pripadaju nekoj od stranaka u skladu s Ugovorom o zajmu ili Ugovorom o jamstvu za eventualna neplaćanja ne umanjuju to pravo, ovlast ili pravni lijek, niti se smiju tumačiti kao odricanje od istih ili pristanak na ta neplaćanja, niti koraci koje poduzme te stranka u svezi s neplaćanjem, ili pristanak na neplaćanje, utječu na ili ublažavaju bilo koje pravo, ovlast ili pravni lijek te ugovorne strane u odnosu na neka druga ili slijedeća neplaćanja.

(a) Ugovorne strane iz Ugovora o zajmu i Ugovora o jamstvu nastoje prijateljski riješiti eventualne sporove ili nesuglasice proizašle iz ugovora ili u svezi s istim. S tim ciljem, na poticaj jedne od ugovornih strana, druga će se strana ili strane odmah sastati sa stranom koja je potaknula isto kako bi raspravili spor ili nesuglasicu te, ukoliko je strana koja potiče isto zatražila pojašnjenja pisanim putem, odgovoriti na pisani način na sve upite tako upućene koje stranka podnese u svezi sa sporom ili nesuglasicom.

(b) Ukoliko se eventualni spor ili nesuglasica, ili potraživanja u svezi s istima, ne mogu riješiti prijateljski kako je to predviđeno stavom (a), potrebno ih je riješiti arbitražno u skladu s UNCITRAL-ovim Pravilima arbitraže koja su bila na snazi u vrijeme početka Arbitražnog postupka pri čemu vrijedi slijedeće:

(i) Broj arbitrova mora biti tri (3);

(ii) Vlast koja određuje nadležnost u smislu Pravila arbitraže UNCITRAL je Predsjednik Međunarodnog suda;

(iii) Mjesto vršenja arbitraže je Hag;

(iv) Jezik koji se rabi u arbitražnim postupcima jest engleski;

(v) Zakon koji primjenjuje Arbitražni sud jest javno međunarodno pravo, a njegovi izvori u smislu arbitraže su slijedeći:

(A) odgovarajuće ugovorne obveze koje uzajamno obvezuju stranke;

(B) odredbe međunarodnih konvencija i ugovora (koje kao takve jesu ili nisu obvezujuće za stranke) a koje su općepriznate i prihvaćene kao zakonske ili su postale dio obvezujućih pravila običajnog prava primjenjivog na države i međunarodne financijske institucije, ovisno o slučaju;

(C) ostali oblici međunarodnih financijskih institucija od takve opće prihvaćenosti, dosljednosti i trajnosti glede stvaranja zakonske obveze; te

(D) primjenjiva opća pravna načela;

(vi) Bez obzira na odredbe Pravila o arbitraži UNCITRAL-a, arbitražni sud nema ovlasti poduzimati privremene mjere zaštite niti osigurati lijek protiv Banke prije donošenja presude kao što niti jedna od strana Ugovora o zajmu ili Ugovora o jamstvu nema pravo uputiti sudskim vlastima zahtjev za privremenim mjerama zaštite niti za lijekom protiv Banke prije donošenja presude; te

(vii) Arbitražni sud ima ovlast razmotriti i uključiti u postupke, odluke ili presude sve prepirke ili sporove koje pred njega na pravovaljani način iznese Banka, Jamac Zajmoprimac ili Nositelj projekta, ukoliko su ti sporovi ili nesuglasice proizašli iz Ugovora o zajmu ili Ugovora o jamstvu; međutim, u skladu s prije navedenim, druge strane ili sporovi ne mogu biti uključeni u niti povezani s arbitrarnim postupkom.

(c) Bez obzira na odredbe iz ovog Odjeljka ništa sadržano u Općim odrednicama nema funkciju niti će se smatrati odricanjem, odustajanjem ili drugom izmjenom nekog prava, povlastice ili imuniteta Banke u skladu s Poglavljem VII Ugovora o osnivanju banke ili u skladu s bilo kojim primjenjivim zakonima.

(d) U svim arbitrarnim postupcima proizašlim iz Ugovora o zajmu ili Ugovora o jamstvu potvrda Banke o eventualnom iznosu dospjelog potraživanja Banke u skladu s ovim Ugovorom smatra se prima facie dokazom o tom iznosu.

STUPANJE NA SNAGU; OKONČANJE

Osim ukoliko Banka i Zajmoprimac ne ugovore drukčije, Ugovor o zajmu i Ugovor o jamstvu stupaju na snagu onoga dana kojega Banka službeno obavijesti Zajmoprimca i Jamca o primitku isprava koje su potrebne u skladu s Odjeljcima 9.02 i 9.03.

Ugovor o zajmu i Ugovor o jamstvu ne stupaju na snagu sve dok se Banci ne podastre sva dokumentacija koja oblikom i sadržajem zadovoljava Banku u smislu slijedećeg:

(a) da su pravovaljano, na razini vlade ili korporacije, ovlaštene ili ratificirane sve provedbe glede izvedbe i uručenja Ugovora o zajmu i Ugovora o jamstvu na ime Zajmoprimca i Jamca;

(b) da su pravovaljano ratificirane ili ovlaštene sve provedbe i uručenja Ugovora o projektu na ime Nositelja projekta putem radnji provedenih od strane vlade, korporacije ili administracije; te

(c) da su provedeni svi ostali koraci određeni Ugovorom o zajmu kao dodatni uvjeti njegovom stupanju na snagu.

Kao dio evidencije koja se podastire u skladu s Odjeljkom 9.02, Zajmoprimac i Jamac podastrijet će ili će naložiti da se banci podastre pravno mišljenje ili pravna savjetodavna mišljenja (koja oblikom i sadržajem zadovoljavaju Banku), od strane pravnika koji su u tom smislu prihvatljivi za Banku, a u svezi s pitanjima navedenim u Ugovoru o zajmu ili prema razumnom zahtjevu banke, a iz čega je vidljivo:

(a) da je, u ime Zajmoprimca, Ugovor o zajmu pravovaljano ovlašten ili ratificiran, proveden i uručen, te da predstavlja valjanu i zakonski obvezujuću obvezu Zajmoprimca u skladu s uvjetima iz rečenog Ugovora;

(b) da je, u ime Jamca, Ugovor o jamstvu praovaljano autoriziran ili ratificiran, proveden i uručen, te da predstavlja valjanu i zakonski obvezujuću obvezu Jamca u skladu s uvjetima rečenog Ugovora; te

(c) da je, u ime Nositelja projekta, Ugovor o projektu (ukoliko takav postoji) pravovaljano autoriziran ili ratificiran, proveden i uručen, te da predstavlja valjanu i zakonski obvezujuću obvezu Nositelja projekta u skladu s uvjetima rečenog Ugovora.

Ukoliko Ugovor o zajmu ne stupi na snagu do datuma određenog Ugovorom o zajmu u smislu ovog Odjeljka, sve obveze Banke koje proizlaze iz Ugovora o zajmu i Ugovora o jamstvu prestaju, osim ukoliko Banka po uzimanju u obzir razloga kašnjenja ne utvrdi kasniji datum u smislu ovog Odjeljka. Banka je obvezna o takvom kasnijem datumu odmah izvijestiti Zajmoprimca i Jamca.

Po otplati ukupnog iznosa glavnice zajma te po uplati kamata i svih pristojbi koje su se nakupile uz Zajam, Ugovor o zajmu i Ugovor o jamstvu te sve obveze ugovornih stranaka time prestaju biti na snazi.

Sve obavijesti ili zahtjevi čije slanje ili davanje iziskuje ili dozvoljava Ugovor o zajmu ili Ugovor o jamstvu odnosno neki drugi ovdje predviđeni ugovor između stranaka, moraju biti u pisanom obliku. Osim ukoliko nije drukčije propisano Odjeljkom 9.01, takve obavijesti ili zahtjevi smatrat će se poslanima ili postavljenima pravodobno ako ih se dostavi stranci za koju je to zahtijevano ili uspostavljeno, na adresu te stranke koja je navedena u Ugovoru o zajmu ili Ugovoru o jamstvu, ili na bilo koju drugu adresu koju je stranka navela, u pisanom obliku, stranci koja šalje obavijest ili postavlja zahtjev. Osim ukoliko Odjeljkom 3.01(b)(i) te Priručnikom o povlačenjima EBRD nije drukčije određeno (kod zahtjeva za svote zajma i srodna pitanja), takvo se uručenje može izvršiti osobnim uručenjem, poštom, telegramom, teleksom ili telefaksom. Uručenja koja se vrše telegramom, teleksom ili telefaksom potrebno je potvrditi i putem poštanske pošiljke.

Sve korake čije se poduzimanje zahtijeva ili dozvoljava te sve isprave čija se provedba zahtijeva ili dozvoljava u Ugovoru o zajmu od strane Zajmoprimca ili o Ugovoru jamstva od strane Jamca, poduzima ili provodi ovlašteni predstavnik Zajmoprimca ili ovlašteni predstavnik Jamca, ili neki drugi djelatnik Zajmoprimca ili Jamca kojeg ovlašteni predstavnik odredi u pisanom obliku. Zajmoprimac i Jamac podastiru banci dostatne podatke glede punomoći i ovlaštenom potpisu svakog od tih djelatnika.

(a) Ugovor o zajmu može se dopuniti ispravom u pisanom obliku i potpisanom od strane ovlaštenog predstavnika Zajmoprimca te pravovaljano ovlaštenog djelatnika Banke. U slučaju da, prema mišljenju banke, takva nadopuna povećava obveze Jamca, takva pisana isprava mora biti potpisana i od strane ovlaštenog predstavnika Jamca.

(b) Ugovor o jamstvu može se dopuniti ispravom u pisanom obliku, potpisanom od strane ovlaštenog predstavnika Jamca te pravovaljano ovlaštenog djelatnika Banke.

Sve isprave koje se uručuje u skladu s Ugovorom o zajmu, Ugovorom o jamstvu ili Ugovorom o projektu moraju biti na engleskom jeziku. Uz ispravu na nekom jeziku mora se priložiti i ovjereni prijevod na engleski jezik, a sadržaj tog ovjerenog prijevoda smatrat će se konačnim sadržajem.

(a) Any loan agreement or guarantee agreement of the Bank for an operation made to, or guaranteed by, a member of the Bank may provide that the parties to that agreement accept the provisions of these Standard Terms and Conditions. To the extent so provided in any such agreement, these Standard Terms and Conditions shall apply thereto with the same force and effect as if they were fully set forth therein. No revocation or amendment of these Standard Terms and Conditions shall be effective in respect of any such agreement unless the parties to that agreement shall so agree.

(b) In a case in which:

(i) the Loan Agreement is between the Bank and a member. references in these Standard Terms and Conditions to the »Guarantor«, the »Guarantee Agreement«, and the »Guarantoržs Authorised Representative« shall be disregarded.

(ii) there is no Project Agreement, references in these Standard Terms and Conditions to the »Project Agreement« shall be disregarded.

(iii) the entire Project is to be carried out by the Borrower, references in these Standard Terms and Conditions to the »Project Entity« shall be disregarded.

If a provision of a loan agreement or guarantee agreement is inconsistent with a provision of these Standard Terms and Conditions, the provision of such loan agreement or guarantee agreement shall govern.

(a) References in these Standard Terms and Conditions to Articles or Sections are to Articles or Sections of these Standard Terms and Conditions.

(b) Unless the context otherwise requires, words in these Standard Terms and Conditions denoting the singular include the plural and vice versa, and words denoting persons include corporations, partnerships, and other legal persons.

(c) The headings of Articles and Sections, as well as the Table of Contents, are inserted for convenience of reference only and shall not be used to interpret these Standard Terms and Conditions.

Except where stated otherwise the following terms have the following meanings wherever used in these Standard Terms and Conditions or in a loan agreement or quarantee agreement to which these Standard Terms and Conditions apply:

»affiliate« as used in respect of any entity, means any other person directly or indirectly controlling, controlled by, or under common control with, such entity.

»Agreement Establishing the Bank« means the Agreement Establishing the European Bank for Reconstruction and Development, dated 29 May 1990.

»assets« includes property, revenue, or claims of any kind.

»Available Amount« means so much of the Loan as shall not, from time to time, have been cancelled or drawn down or made subject to a conditional or unconditional Reimbursement Commitment.

»Bank« means the European Bank for Reconstruction and Development.

»Borrower« means the party to the Loan Agreement pursuant to which the Loan is made, or any successor thereto.

»Borroweržs Authorised Representative« means the person referred to as such in Sections 3.01 (b)(i) and 10.02 and designated as such in the Loan Agreement.

»Business Day« means a day on which commercial banks and foreign exchange markets are open for the transaction of business in the interbank market for the relevant Loan Currency in London, England, and on which commercial banks and foreign exchange markets settle payment in the Loan Currency in the relevant financial centre.

»category« means a category of items to be financed out of the proceeds of the Loan as provided for in the Loan Agreement.

»charges« includes charges, commissions, fees, premiums, Unwinding Costs and Default Interest in respect of the Loan.

»commitment charge« means the charge payable as specified in Section 3.05 (a).

»control« as used in respect of any person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such person, whether through the ownership of voting shares or by contract or otherwise.

»currency« includes the currency of a country or the ECU; and »currency of a country« means the coin or currency which is legal tender for the payment of public and private debts in that country.

»Default Interest Period« means, with respect to an amount overdue under the Loan Agreement, a period commencing on the Business Day on which such payment becomes overdue or, as the case may be, on the last Business Day of the previous Default Interest Period, and ending on a Business Day selected by the Bank or, as the case may be, determined in accordance with Section 3.09(d).

»Default Interest Rate« means the interest rate applicable to amounts overdue under the Loan Agreement, as determined in accordance with Section 3.09.

»drawdown« means the use of a part of the Available Amount by the Borrower through a payment or payments made by the Bank to the Borrower or to the order of the Borrower.

»EBRD Disbursement Handbook« means the disbursement handbook of the Bank, as amended from time to time by the Bank.

»EBRD Procurement Rules« means the Procurement Policies and Rules for projects Financed by the European Bank for Reconstruction and Development, as amended from time to time by the Bank.

»ECU« means the European Currency Unit, as defined from time to time in the European Monetary System.

»Effective Date« means the date upon which the Loan Agreement becomes effective in accordance with Section 9.01.

»external debt« means any debt which is or may become payable in a medium other than the currency of the member.

»Fixed Interest Rate« means the rate of interest payable on the Loan from time to time in accordance with Section 3.04(a).

»front-end commission« means the commission specified in Section 3.05(b).

»Guarantee Agreement« means the agreement between the Bank and a member providing for the guarantee of the Loan, as such agreement may be amended from time to time; and such term includes these Standard Terms and Conditions as applied thereto, all schedules to the Guarantee Agreement, and all agreements supplemental to, or included within the scope of, the Guarantee Agreement.

»Guarantor« means the member of the Bank that is a party to the Guarantee Agreement.

»Guarantoržs Authorised Representative« means the person referred to as such in Section 10.02 and designated as such in the Guarantee Agreement.

»incurring of debt« includes the assumption or guarantee of debt and any renewal, extension, or modification of the terms of the debt or of the assumption or guarantee thereof.

»Interest Determination Date« means, if the Loan is subject to a Variable Interest Rate, the second Business Day before the beginning of the relevant Interest Period or a day otherwise defined in the Loan Agreement.

»Interest Payment Date« means any day falling on one of the dates so specified in the Loan Agreement for payment of interest on the Loan, except that if such day is not a Business Day, the Interest Payment Date shall be the next day which is a Business Day.

»Interest Period« means each period commencing on an Interest Payment date and ending on the next Interest Payment Date, except in the case of the first Interest Period applicable to each drawdown, when it shall have the following meaning:

(i) if such drawdown is made at least fifteen (15) Business Days prior to the next Interest Payment Date, the period commencing on the date on which such drawdown is made and ending on the next Interest Payment Date; and

(ii) if such drawdown is made less than fifteen (15) Business Days prior to the next Interest Payment Date, the period commencing on the date on which such drawdown is made and ending on the Interest Payment Date succeeding the next Interest Payment Date.

»Interest Rate« means the Fixed Interest Rate of the Variable Interest Rate, or both, as specified in the Loan Agreement.

»Last Availability Date« means the date referred to in Section 3.01(a) and specified in the Loan Agreement.

»lien« includes mortgages, pledges, charges, privileges, priorities of any kind and any arrangement having and equivalent effect.

»Loan« means the loan provided for in the Loan Agreement.

»Loan Agreement« means the loan agreement to which these Standard Terms and Conditions apply, as such agreeement may be amended from time to time; and such term includes these Standard Terms and Conditions as applied thereto, all schedules to the Loan Agreement, and all agreeements supplemental to the Loan Agreement.

»Loan Currency« means the currency or currencies in which the Loan is denominated, as specified in the Loan Agreement.

»Loan Repayment Date« means any day falling on one of the dates specified in the Loan Agreeement for repayment of the principal of the Loan, except that if such day is not a Business Day, the Loan Repayment Date shall be the next day which is a Business Day.

»Margin« means one per cent (1%) per annum.

»member« means a member of the Bank.

»Minimum Cancellation Amount« means the amount referred to in Section 3.08(a)(i) and specified in the Loan Agreement.

»Minimum Drawdown Amount« means the amount referred to in Section 3.01(b)(ii) and specified in the Loan Agreement.

»Minimum Prepayment Amount« means the amount referred to in Section 3.07(d)(i) and specified in the Loan Agreement.

»Project« means the project for which the Loan is made, as described in the Loan Agreement or Guarantee Agreement, as such description may be amended from time to time by agreement between the parties thereto.

»Project Agreement« means the project agreement or agreements, if any described in the Loan Agreement or Guarantee Agreement, as such agreement or agreements may be amended from time to time; and such term includes all schedules to the Project Agreement and all agreements supplemental to the Project Agreement.

»Project Entity« means the entity or entities, if separate from the Borrower, responsible for carrying out the Project, as specified in the Loan Agreement.

»public assets« means assets of the member, of any political or administrative subdivision thereof, and of any entity owned and controlled, by, or operating for the account or benefit of, the member or any such subdivision, including gold and foreign exchange assets held by any institution performing the functions of a central bank or exchange stabilisation fund, or similar functions for the member.

»Reimbursement Commitment« mans commitment referred to in Section 3.02, including »conditional Reimbursement Commitments« and »unconditional Reimbursement Commitments«, as those terms are used in that Section.

»Relevant Market Interest Rate« means the market interest rate referred to in Section 3.04 and specified in the Loan Agreement.

»Statutes« means, in respect of the Borrower (if not a member) or the Project Entity, its founding statute, act decision, charter, or other similar instrument.

»subsidiary« means, of an entity, any other entity over fifty per cent (50%) of the capital of which is owned, directly or indirectly, by the entity or which is otherwise effectively controlled by the entity.

»taxes« includes imposts, levies, fees, and duties of any nature, whether in effect at the date of the Loan Agreement or Guarantee Agreement or thereafter imposed.

»Tranche« means a part of the Loan identified by a particular Loan Currery or Interest Rate, as provided for in the Loan Agreement.

»Unwinding Costs« means the loss, gain, cost or expenses to the Bank arising from the unwinding of the financial position or foreign exchange position, or both, taken by the Bank in order to provide the Loan, or any part thereof.

»Variable Interest Rate« means the rate of interest payable on the Loan from time to time in accordance with Section 3.04(b).

The Borrower may draw down from the Available Amount from time to time in accordance with the provisions of the Loan Agreement and subject to the following provisions:

(a) Last Availability Date

The Borroweržs right to draw down from the Available Amount shall terminate on the Last Availability Date specified in the Loan Agreement or such later date as the Bank shall establish. The Bank shall promptly notify the Borrower of any such later date.

(b) Applications for drawdowns

(i) In order to make a drawdown, a drawdown application shall be submitted to the Bank by the Borroweržs Authorised Representative, or a person designated by the Borroweržs Authorised Representative. Each drawdown application submitted shall be in accordance with, and in the form prescribed by, the EBRD Disbursement andbook and delivered to the Bank at least fifteen (15) Business Days prior to the proposed value date of the drawdown. Each drawdown application shall be in substance satisfactory to the Bank and shall be accompanied by such documents and other evidence sufficient in form and substance to satisfy the Bank that the Borrower is entitled to the amount of the drawdown and that the amount of the drawdown will be used exlusively for the purposes specified in the Loan Agreement.

(ii) Except for the last drawdown or unless the Bank shall otherwise agree, darwdowns shall made in amounts of not less than the Minimum Drawdown Amount specified in the Loan Agreement.

(c) Currency of Drawdowns

Drawdowns shall be made in the Loan Currency in an amount equivalent to the expenditures to be financed out of the proceeds of the Loan. In the case of expenditures incurred in a currency or currencies other than the Loan Currency, the equivalent drawdown amount shall be determined as follows:

(i) If the Borrower requests payment in the Loan Currency, the Bank will determine the equivalent drawdown amount two Business Days prior to payment.

(ii) If the Borrower requests payment in the currency or currencies of the expenditures, the Bank will, provided such expenditures are in readily available currencies or the currency of the member, purchase such currency or currencies in such manner as the Bank may deem appropriate. The equivalent drawdown amount shall be determined by the Bank on the basis of the exchange costs that were or would have been incurred by the Bank in using the Loan Currency to meet the request.

(d) Payments in Other Currencies

In exceptional circumstances, the Bank may grant a request by the Borrower that payment be made in a currency or currencies other than the Loan Currency or the currency of the expenditures. In that case the Bank will purchase such currency or currencies in such manner as the Bank may deem appropriate. The equivalent drawdown amount shall be determined by the Bank on the basis of the exchange costs that were or would have been incurred by the Bank in using the Loan Currency to meet the request.

Upon the Borroweržs request and on such terms and conditions as shall be agreed upon by the Borrower and the Bank, the Bank may, in accordance with the provisions of the EBRD Disbursement Handbook, issue unconditional or conditional Reimbursement Commitments to reimburse payments made by banks under letters of credit in respect of expenditures to be financed under the Loan. Any such reimbursement shall constitute a drawdown.

(a) In the case of a conditional Reimbursement Commitment:

(i) the obligation of the Bank to pay shall be suspended or terminated immediately upon any suspension or cancellation of the Loan by the Bank pursuant to Sections 7.01 or 7.02; and

(ii) the commitment charge of the Bank on the amount of a conditional Reimbursement Commitment shall be in the amount and payable in the manner specified in Section 3.05(a).

(b) In the case of an unconditional Reimbursement Commitment:

(i) the obligation of the Bank to pay shall not be affected by any subsequent suspension or cancellation of the Loan; and

(ii) a charge equivalent to the Margin shall be paid in lieu of the commitment charge specified in Section 3.05(a). The charge shall accrue from the date of issuance of the unconditional Reimbursement Commitment on the principal amount thereof outstanding from time to time and shall be calculated on the basis of (x) a 365-day year if the Loan is subject to a Fixed Interest Rate or the Loan Currency is British pounds sterling, or (y) a 360-day year in all other cases, for the actual number of days elapsed in the relevant period. The unconditional Reimbursement Commitment charge shall be payable on each Interest Payment Date commencing on the first Interest Payment Date following the issuance of the unconditional Reimbursement Commitment.

If the Bank estimates that the amount of the Loan allocated to any drawdown category set forth in the Loan Agreement will be insufficient to finance the agreed percentage of expenditures in that category, the Bank may, by notice to the Borrower:

(a) reallocate to such category, to the extent required to mett the estimated shortfall, proceeds of the Loan which prior to such reallocation had been allocated to another category and which in the opinion of the Bank are not needed to meet other expenditures; and

(b) if such reallocation cannot fully meet the estimated shortfall, reduce the percentage of expenditures to be financed in order that further drawdowns under such category may continue until all expenditures thereunder shall have been made.

In the event that a reallocation takes place in accordance with subparagraph (a) above, the Borrower may request the Bank to make a further reallocation of an equivalent amount of proceeds of the Loan to another category mutually agreed by the Borrower and the Bank.

Except as provided in Section 3.09:

(a) if the Loan is subject to a Fixed Interest Rate, interest on the Loan shall be payable as follows:

(i) The principal amount of the Loan from time to time drawn down and not repaid shall bear interest during the relevant Interest Period at the Fixed Interest Rate specified in the Loan Agreement.

(ii) Interest shall accrue from day to day, calculated on the basis of a 365-day year fot the actual number of days, including the first day but excluding the last day, in the relevant Interest Period. Interest shall be due and payable on the Interest Payment Date at the end of the relevant Interest Period.

(iii) The Fixed Interest Rate shall be the sum of the Margin and the Relevant Market Interest Rate specified in the Loan Agreement.

(b) If the Loan is subject to a Variable Interest Rate, interest on the Loan shall be determined and payable as follows:

(i) The principal amount of the Loan from time to time drawn down and not repaid shall bear interest during the relevant Interest Period at the Variable Interest Rate, calculated in accordance with this Section.

(ii) Interest shall accrue from day to day, calculated on the basis of a 360-day year (unless the Loan Currency is British pounds sterling, in which case it shall be calculated on the basis of a 365-day year) for the actual number of days, including the first day but excluding the last day, in the relevant Interest Period. Interest shall be due and payable on the Interest Payment date at the end of the relevant Interest Period.

(iii) The Variable Interest Rate shall be the sum of the Margin and the Relevant Market Interest Rate specified in the Loan Agreement.

(iv) On each Interest Determination Date the Bank shall determine the Variable Interest Rate applicable to the relevant Interest Period and promptly give notice thereof to the Borrower and the Guarantor.

(a) The Borrower shall pay to the Bank a commitment charge at the rate specified in the Loan Agreement, payable on the total of the Available Amount plus any amount of the Loan that is subject to a conditional Reimbursement Commitment and is not yet drawn down. The commitment charge shall accrue from the date sixty (6) days after the date of the Loan Agreement, and shall be pro-rated on the same basis as the interest accrual referred to in Section 3.04 (b) (ii). The commitment charge shall be payable on each Interest Payment Date commencing on the first Interest Payment Date following the date upon which the Agreement becomes effective. Any adjustments to the amount payable to the Bank that may become necessary as a result of drawdowns made shortly preceding an Interest Payment Date may be made in accordance with procedures established by the Bank for this purpose as specified in the EBRD Disbursement Handbook.

(b) Within seven (7) days after the Effective Date, the Borrower shall pay to the Bank a front-end commission equal to one per cent (1%) (or such other amount specified in the Loan Agreement) of the principal amount of the Loan.

The principal amount and interest on the Loan shall be due and payable in the manner and on the dates set forth in the Loan Agreement.

(a) The Borrower may prepay all or part of the principal amount of the Loan drawn down and not repaid together with accrued and unpaid interest thereon on any Interest Payment Date on not less than thirty (30) Business Days prior written notice to the Bank.

(b) The Borrower shall pay to the Bank, on the date of prepayment, a prepayment administrative fee of one-eighth of one per cent (0.125%) of the principal amount of the Loan being prepaid.

(c) Any prepayment in accordance with subsections (a) and (b) shall be subject to payment by the Borrower or the Bank, as the case may be, of any Unwinding Costs assessed by the Bank and notified to the Borrower.

(d) In the case of partial prepayment, such prepayment

(i) shal be in an amount at least equal to the lesser of:

(A) the Minimum Prepayment Amount specified in the Loan Agreement, and

(B) the total principal amount of the Loan drawn down and not repaid, together with accrued and unpaid interest and other charges; and

(ii) shall be:

(A) first applied to pay accrued and unpaid interest and other charges, and

(B) second applied pro-rata to the several maturities of the principal amount of the Loan drawn down and not repaid.

(a) The Borrower may cancel all or part of the Available Amount on any Interest Payment Date on not less than thirty (30) Business Days prior written notice to the Bank. Such cancellation shall be in an amount at least equal to the lesser of:

(i) the Minimum Cancellation Amount specified in the Loan Agreement, and

(ii) the Available Amount.

(b) In the event of any cancellation by the Borrower pursuant to subsection (a) of this Section, or by the Bank pursuant to Section 7.02:

(i) the Borrower shall pay to the Bank, on the date of cancellation, a cancellation fee of one eighth of one per cent (0.125%) of the principal amount of the Loan being cancelled;

(ii) any cancellation in accordance with subsetion (a) shall be subject to the payment by the Borrower or the Bank, as the case may be, of any Unwinding Costs assessed by the Bank and notified to the Borrower;

(iii) the amount cancelled shall be deducted from the Available Amount outstanding on the date of cancellation; and

(iv) the amount cancelled shall be applied pro rata to the several maturities of the principal amount of the Loan set forth in the amortisation schedule to the Loan Agreement and falling due after the date of such cancellation.

(a) If the Borrower fails to pay any amount payable by it under the Loan Agreement, the overdue amount shall bear interest at the relevant Default Interest Rate, calculated in accordance with this Section.

(b) Default interest shall:

(i) accrue from day to day from the due date to the date of actual payment;

(ii) be prorated on the basis of a 360-day year for the actual number of days in the relevant Default Interest Period;

(iii) be compounded at the end of each Default Interest Period; and

(iv) be payable forthwith upon demand.

(c) Except as provided in subsection (d) below, the Default Interest Rate shall be the sum of:

(i) two per cent (2%) per annum, and

(ii) the Margin, and

(iii) the rate of interest offered in the London interbank market for a deposit in the Loan Currency of an amount comparable to the overdue amount for a period equal to the relevant Default Interest Period;

provided, however, that if the Bank determines that deposits in the Loan Currency are not being offered in the London interbank market in such amounts or for such period, the Default Interest Rate shall be determined by reference to the cost of funds to the Bank from whatever sources it selects.

(d) If the amount overdue is Loan principal in respect of a Loan, or part thereof, to which a Variable Interest Rate applies, and such amount has become due on a date other than an Interest Payment Date, the first Default Interest Period shall end on the next Interest Payment Date and the Default Interest Rate during such period shall be the sum of:

(i) two percent (2%) per annum, and

(ii) the Variable Interest Rate applicable to that amount immediately before it became due.

(e) Each determination by the Bank of the Default Interest Period and the Default Interest Rate shall be final and conclusive and shall be binding on the Borrower.

(a) Payments of principal, interest, commitment charge, front-end commission, prepayment administrative fee, default interest under Section 3.09, Unwinding Costs and any other payment due to the Bank under the Loan Agreement shall be made in the Loan Currency, for value on the due date, at such bank or banks, and in such place or places, as the Bank shall from time to time designate.

(b) If any date for any payment under the Loan Agreement shall not be a Business Day, then such payment shall be made on the next succeeding Business Day and interest (or commitment charge, as the case may be) shall continue to accrue for the period from such date to the next succeeding Business Day. Upon request of the Borrower agreed to by the Bank, such payment shall be made on such earlier date as the parties agree.

(a) The Bank, the Borrower, and the Guarantor shall cooperate fully to ensure that the purposes for which the Loan is made will be accomplished. To that end, the Bank, the Borrower, and the Guarantor shall:

(i) from time to time, at the request of any of them, exchange views with regard to the progress of the Project, the purposes for which the Loan is made, and the performance of their respective obligations under the Loan Agreement and the Guarantee Agreement, as well asthe performance of the Project Entity under the Project Agreement and any related agreement, and furnish to the other parties all such information related thereto as shall have been reasonably requested; and

(ii) promptly inform each other of any condition that interferes with, or threatens to interfere with, the matters referred to in sub-paragraph (i) above.

(b) The Borrower shall promptly inform the Bank of any proposed change in the nature or scope of the Project or the business or operations of the Project Entity and of any event or condition which might materially affect the carrying out of the Project or the carrying on of the business or operations of the Project Entity.

(c) The Guarantor shall take no action, nor it permit any of its agents or subsidiaries to take any action, that would prevent or interfere with the execution of the Project or with the efficient operation of the Project facilities or the performance of the Borroweržs obligations under the Loan Agreement. If the Guarantor is a member, it shall also ensure that no such action is taken or permitted do be taken by any of its political or administrative subdivisions or any of the entities owned and controlled by, or operating for the account or benefit of, the Guarantor or such subdivisions.

(a) The Borrower shall carry out the Project or cause the Project to be carried out with due diligence and efficiency in accordance with sound environmental and other relevant standards and practices and shall provide, promptly as needed, the funds, land, facilities, services, and other resources required for these purposes.

(b) If there is a Project Agreement placing partial or whole responsibility for Project execution with a Project Entity, the Borrower:

(i) shall cause the Project Entity to perform in accordance with the provisions of the Project Agreement all obligations of the Project Entity therein set forth; and

(ii) shall not take or permit to be taken any action that would prevent or interfere with such performance.

(c) Without limiting the generality of subsections (a) or (b) above, the Borrower shall take, or cause to be taken, all such action as shall be necessary to acquire as and when needed all such land and rights in respect of land as shall be required for carrying out the Project and shall furnish to the Bank, promptly upon its request, evidence satisfactory to the Bank that such land and rights in respect of land are available for those purposes.

(d) The Borrower shall insure or cause to be insured, or make adequate provision satisfactory to the Bank for the insurance of:

(i) the imported goods to be financed out of the proceeds of the Loan for the Project, against hazards incidental to the acquisition, transportation, and delivery thereof to the place of use or installation (and, where applicable, against hazards during the construction period), and the indemnity under such insurance shall be payable in the currency needed to replace or repair such goods; and

(ii) all other items that are related to the financial or technological viability of the Project and that are within te ownership or control of the Borrower.

(e) The Borrower shall at all times operate and maintain, or cause to be operated and maintained, in good working condition any facilities relevant to the Project, and promptly as needed, make or cause to be made all necessary repairs and renewals thereof.

(f) The Borrower shall cause all goods, works, and services financed out of the proceeds of the Loan for the Project to be used exclusively for the purposes of the Project.

Except as the Bank shall otherwise agree, procurement of goods, works and services, including consultantsž services, required for the Project and to be financed out of the proceeds of the Loan shall be governed by the EBRD Procurement Rules and the provisions set out in the Loan Agreement.

(a) The Borrower shall in respect of those parts of the Projects for which the Borrower is directly responsible, as specified in the Loan Agreement:

(i) maintain procedures and records adequate to record and monitor the progress of the Project (including its cost and the benefits to be derived from it), to identify any and all goods, works and services financed out of the proceeds of the Loan, and to identify their use in the Project, and make such records available to the Bankžs representatives on request of the Bank;

(ii) enable the Bankžs representatives, at the Bankžs request,

(A) to visit any facilities and construction sites relating to the Project,

(B) to examine any and all goods, works, and services financed out of the proceeds of the Loan and any plants, installations, sites, works, buildings, property, equipment, records, and documents relevant to the performance of the obligations of the Borrower under the Loan Agreement, and

(C) for these purposes to meet and hold discussions with such representatives and employees of the Borrower as the Bank may deem necessary and appropriate;

(iii) furnish to the Bankžs representatives all such reports and information as the Bank shall reasonably request concerning the Project, including information on environmental matters relating to the Project, its cost and, where appropriate, the benefits to be derived from it, the expenditure of the proceeds of the Loan and any and all goods, works and services financed out of such proceeds;

(iv) without limiting the generality of subsection (a)(iii) above, except as the Bank shall otherwise agree, furnish or cause to be furnished to the Bank periodic Project reports in a form satisfactory to the Bank and of a frequency specified in the Loan Agreement, indicating among other things the progress made and problems encountered during the period under review, steps taken or proposed to be taken to remedy those problems, and the proposed programme of activities and expected progress during the following period; and

(v) furnish or cause to be furnished to the Bankžs representatives, promptly upon their preparation, any plans, specifications, reports, contract documents and construction and procurement schedules for the Project, and any material modifications thereof or additions thereto, in such detail as the Bank shall reasonably request.

(b) Upon the award of any contract for goods or services to be financed out of the proceeds of the Loan, the Bank may publish a description thereof, the name and nationality of the party to which the contract was awarded, and the contract price.

(c) Promptly after either

(i) the Project has been completed, or

(ii) the full amount of the Loan has been either drawn down or cancelled, but in any event not later than six months after the Last Availability Date or such later date as the Bank may agree,

the Borrower shall prepare and furnish to the Bank a report, in a from satisfactory to the Bank and of such scope and in such detail as the Bank shall reasonably request, on the execution and initial operation of the Project, including information on environmental matters relating to the Project, its cost and the benefits derived and to be derived from it, the performance by the Borrower and the Bank of their respective obligations under the Loan Agreement, and the accomplishment of the purposes of the Loan.

(a) The member undertakes to ensure that no other external debt of the member shall have priority over the Loan in the allocation, realisation or distribution of foreign exchange held under the control or for the benefit of the member. If any lien shall be created on any public assets as security for any external debt which will or might result in a priority for the benefit of the creditor of such external debt in the allocation, realisation or distribution of foreign exchange, such lien shall, unless the Bank shall otherwise agree, ipso facto, and at no cost to the Bank, equally and rateably secure the principal of, and interest and other charges on, the Loan, and the member, in creating or permitting the creation of such lien, shall make express provision to that effect; provided, however, that if for any constitutional or other legal reason such provision cannot be made with respect to any lien created on assets of any of its political or administrative subdivisions, the member shall promptly and at no cost to the Bank secure the principal of, and interest and other charges on, the Loan by an equivalent lien on other public assets satisfactory to the Bank.

(b) The foregoing undertakings shall not apply to:

(i) any lien created on property, at the time of purchase thereof, solely as security for the payment of the purchase price of that property or as security for the payment of debt incurred for the purpose of financing the purchase of such property; and

(ii) any lien arising in the ordinary course of banking transactions and securing a debt maturing not more that one year after its date.

(a) The member shall furnish to the Bank all such information as the Bank may reasonably request:

(i) in respect of financial and economic conditions in the territory of the member, including the memberžs balance of payments and external debt, as well as the external debt of its political or administrative subdivisions, and of any entity owned or controlled by, or operating for the account or benefit of, the member or any such subdivision, and of any institution performing the functions of a central bank or exchange stabilisation fund, or similar functions, for the member; and

(ii) in respect of economic reforms and measures implementing transition to a market economy, including restructuring and privatisation, in each economic sector that may have an impact on the Project, including reforms in the legal and regulatory framework for such sector.

(b) The member shall afford all reasonable opportunity for representatives of the Bank to visit any part of its territory for purposes related to the Loan or the Project.

(c) The Borrower and the Project Entity shall, to the extent specified in the Loan Agreement, furnish or cause to be furnished to the Bank, until the full amount of the Loan has been repaid or cancelled:

(i) periodic financial statements and reports in respect of the financial covenants specified in the Loan Agreement;

(ii) periodic reports, in a from satisfactory to the Bank on the operation and maintenance of Project facilities; and

(iii) annual reports on environmental and worker health and safety matters relating to the Borroweržs operations.

(a) The member shall ensure that:

(i) the principal amount of, and interest and other charges on, the Loan are exempt from, and are paid without deduction for, any taxes levied by, or in the territory of, the member; and

(ii) the Loan Agreement, the Guarantee Agreement, and any related document to which these Standard Terms and Conditions apply shall be free from any and all taxes levied by, or in the territory of, the member on or in connection with the execution, delivery, or registration thereof.

(b) The proceeds of the Loan shall not be drawn down on account of payments for any taxes levied by, or in the territory of, the member.

(c) The Bank may, by notice to the Borrower, increase or decrease the percentage of expenditures to be financed from any category as may be required to be consistent with subsection (b) of this Section.

The member shall ensure that the principal amount of, and interest and other charges on, the Loan are paid without restrictions of any kind imposed by, or in the territory of, the member.

(a) If any of the following events shall have occurred and be continuing, the Bank may, by notice to the Borrower and the Guarantor, suspend, in whole or in part, the right of the Borrower to make drawdowns under the Loan:

(i) the Borrower shall have failed to make payment (notwithstanding the fact that such payment may have been made by the Guarantor or by a third party) of principal or interest or any other amount due to the Bank,

(A) under the Loan Agreement, or

(B) under any other loan or guarantee agreement between the Bank and the Borrower, or

(C) under any reimbursement or similar obligation of the Borrower arising out of any guarantee or other financing of any kind provided by the Bank to any third party;

(ii) the Guarantor shall have failed to make payment of principal, interest or any other amount due to the Bank,

(A) under the Guarantee Agreement, or

(B) under any other loan agreement or guarantee agreement with the Bank; or

(C) under any reimbursement or similar obligation of the Guarantor arising out of any guarantee or other financing of any kind provided by the Bank to any third party;

(iii) the Borrower or the Guarantor shall have failed to perform any other obligation to the Bank pursuant to an agreement between the Borrower or the Guarantor and the Bank, or under Article 21.2 of the Agreement Establishing the Bank;

(iv) the Project Entity shall have failed to perform any of its obligations under the Project Agreement;

(v) the Bank shall have suspended, in whole or in part, the right of the Borrower or the Guarantor to make applications for drawdowns under any other loan agreement with the Bank because of a failure by the Borrower or the Guarantor to perform any of its obligations under such agreement or any guarantee agreement with the Bank;

(vi) an extraordinary situation shall have arisen as a result of events which have occurred after the date of the Loan Agreement, which shall make it improbable that the Project can be carried out or that the Borrower or Guarantor will be able to perform its obligations under the Loan Agreement or the Guarantee Agreement;

(vii) the Borrower or the Guarantor shall have been suspended from membership in the Bank, or shall have ceased to be a member, or shall have delivered to the Bank a notice to withdraw from such membership;

(viii) after the date of the Loan Agreement and prior to the Effective Date, any event shall have occurred which would have entitled the Bank to suspend the Borroweržs right to make drawdowns if the Loan Agreement had been effective on the date such event occurred;

(ix) if the Borrower is not a member, any material adverse change in the condition of the Borrower from that represented by the Borrower as of the date of the Loan Agreement, shall have occurred prior to the Effective Date;

(x) a representation made by the Borrower or the Guarantor in connection with the Loan Agreement or the Guarantee Agreement shall have been incorrect or misleading in any material respect;

(xi) any event specified in Section 7.06(c), (d) or (e) shall have occurred;

(xii) the Bank shall have suspended or otherwise modified access to Bank resources by any member that is party to the Loan Agreement or Guarantee Agreement pursuant to a decision of the Board of Governors of the Bank under Article 8.3 of the Agreement Establishing the Bank; or

(xiii) any other event specified in the Loan Agreement for the purposes of this Section shall have occurred.

(b) The right of the Borrower to make drawdowns shall continue to be suspended in whole or in part, as the case may be, until the event or events which gave rise to suspension shall have ceased to exist, unless the Bank shall have notified the Borrower that the right to make drawdowns has been restored; provided, however, that the right to make drawdowns shall be restored only to the extent and subject to the conditions specified in such notice, and no such notice shall affect or impair any right, power or remedy of the Bank in respect of any other subsequent event described in this Section.

(a) If:

(i) after the Last Availability Date, the remaining Available Amount shall not have been drawn down, such amount shall be cancelled.

(ii) at any time the Bank determines, after consultation with the Borrower and the Guarantor, that an amount of the Loan will not be required to finance the Projectžs costs to be financed out of the proceeds of the Loan, the Bank may, by notice to the Borrower and the Guarantor cancel, such amount of the Loan.

(b) If the right of the Borrower to make drawdowns of any part of the Loan shall have been suspended for a continuous period of thirty (30) days, the Bank may by notice to the Borrower and the Guarantor cancel such amount of the Loan.

(c) If:

(i) at any time the Bank determines that the procurement of any item is inconsistent with the procedures set forth or referred to in the Loan Agreement and establishes the amount of expenditures in respect of such item that would otherwise have been eligible for financing out of the proceeds of the Loan, or

(ii) at any time the Bank determines that funds drawn down under the Loan have been used for purposes other than those provided for under the Loan Agreement and establishes the amount so used,

the Bank may, by notice to the Borrower and the Guarantor, cancel the equivalent of such amount from the Loan. Such cancellation shall take effect when notice is given.

No cancellation or suspension shall apply to amounts subject to an unconditional Reimbursement Commitment entered into by the Bank pursuant to Section 3.02 (b) except as expressly provided in such commitment.

Notwithstanding any cancellation or suspension, all the provisions of the Loan Agreement and the Guarantee Agreement shall continue in full force and effect except as specifically provided herein.

If the Borrower shall have failed to make payment of principal or interest or any other payment required under ther Loan Agreement (otherwise than as a result of any act or omission of the Guarantor) and such payment shall have been made by the Guarantor, the Guarantor may, after consultation with the Bank, by notice to the Bank and the Borrower, terminate its obligations under the Guarantee Agreement in respect of any amount of the Loan that had not been drawn down prior to the date of receipt of such notice by the Bank and is not subject to any unconditional Reimbursement Commitment issued by the Bank pursuant to Section 3.02(b). Upon receipt of such notice by the Bank, the Guarantoržs obligations in respect of such amount shall terminate.

If any of the following events shall have occurred and shall be continuing for the period specified below, then at any time during the continuance of that event the Bank may, by notice to the Borrower and the Guarantor, declare the principal amount of the Loan then outstanding to be due and payable immediately, together with the interest and other charges thereon, and upon any such declaration such principal amount, together with the interest and other charges, shall become due and payable immediately:

(a) any event specified in Section 7.01 (a) (i) or (ii) shall have occurred and shall have continued for fifteen (15) days from the date of such event;

(b) any event specified in Section 7.01 (a) (iii) or (iv) shall have occurred and shall have continued for thirty (30) days after notice thereof shall have been given by the Bank to the Borrower and the Guarantor;

(c) any external debt of the Borrower or Guarantor is declared to be due and payable prior to its specified maturity;

(d) the Borrower (if not a member) or the Project Entity shall have become unable to pay its debts as they mature or any action or proceeding shall have been taken by the Borrower, or the Project Entity or others, whereby any of the assets of the Borrower or Project Entity shall or may be distributed among its creditors;

(e) any authority or entity having jurisdiction or control over the Borrower or the Project Entity shall have taken any action for the dissolution or disestablishment, or the suspension of operations, of the Borrower (if not a member) or the Project Entity; or

(f) any other event specified in the Loan Agreement for the purposes of this Section shall have occurred and shall have continued for the period, if any, specified in the Loan Agreement.

The rights and obligations of the parties to the Loan Agreement and the Guarantee Agreement shall be valid and enforceable in accordance with their terms notwithstanding any local law to the contrary. No party to either such agreement shall be entitled under any circumstances to assert any claim that any provision of either such agreement is invalid or unenforceable for any reason.

The obligations of the Guarantor under the Guarantee Agreement shall not be discharged except by performance and then only to the extent of such performance. Such obligations shall not be subject to any prior notice to, demand upon, or action against the Borrower or to any prior notice to or demand upon the Guarantor in respect of any default by the Borrower, and shall not be impaired by any of the following: any extension of time, forbearance, or concession given to the Borrower; any assertion of, or failure to assert, or delay in asserting, any right, power, or remedy against the Borrower or in respect of any security for the Loan; any modification or amplification of the provisions of the Loan Agreement contemplated by the terms thereof; or any failure of the Borrower to comply with any requirement of any law, regulation, or order of the Guarantor or of any political subdivision or agency of the Guarantor.

No delay in exercising, or omission to exercise, any right, power, or remedy accruing to either party under the Loan Agreement or the Guarantee Agreement upon any default shall impair any such right, power, or remedy or be construed to be a waiver thereof or an acquiescence in such default; nor shall the action of such party in respect of any default, or any acquiescence in any default, affect or impair any right, power or remedy of such party in respect of any other or subsequent default.

(a) The parties to the Loan Agreement and the Guarantee Agreement shall endeavour to settle amicably any dispute or controversy between them arising out of such agreements or in connection therewith. To this end, at the initiative of any party to either such agreement, the other party or parties shall meet promptly with the initiating party to discuss the dispute or controversy and, if requested by the initiating party in writing, shall reply in writing to any written submission made by the initiating party concerning the dispute or controversy.

(b) If any such dispute or controversy, or any claim relating thereto, cannot be amicably settled as provided for in subsection (a), it shall be settled by arbitration in accordance with the UNCITRAL Arbitration Rules in force at the time the arbitral proceedings commence, subject to the following:

(i) The number of arbitrators shall be three (3);

(ii) The appointing authority for the purposes of the UNCITRAL Arbitration Rules shall be the President of the International Court of Justice;

(iii) The place of arbitration shall be The Hague;

(iv) The language to be used in the arbitral proceedings shall be English;

(v) The law to be applied by the arbitral tribunal shall be public international law, the sources of which shall be taken for these purposes to include:

(A) any relevant treaty obligations that are binding reciprocally on the parties;

(B) the provisions of any international conventions and treaties (whether or not binding directly as such on the parties) generally recognised as having codified or ripened into binding rules of customary law applicable to states and international financial institutions, as appropriate;

(C) other forms of international custom, including the practice of states and international financial institutions of such generality, consistency and duration as to create legal obligations; and

(D) applicable general principles of law;

(vi) Notwithstanding the provisions of the UNCITRAL Arbitration Rules, the arbitral tribunal shall not be authorised to take any interim measures of protection or provide any pre-award relief against the Bank and none of the parties to the Loan Agreement or Guarantee Agreement may address to any judicial authority a request for any interim measures of protection or pre-award relief against the Bank; and

(vii) The arbitral tribunal shall have authority to consider and include in any proceeding, decision or award, any dispute or controversy properly brought before it by the Bank, the Borrower, the Guarantor or the Project Entity, insofar as such dispute or controversy arises out of the Loan Agreement or the Guarantee Agreement; but subject to the foregoing no other parties or other disputes shall be included in, or consolidated with, the arbitral proceedings.

(c) Notwithstanding the provisions of this Section, nothing contained in these Standard Terms and Conditions shall operate or be regarded as a waiver, renunciation, or other modification of any right, privilege, or immunity of the Bank under Chapter VIII of the Agreement Establishing the Bank or under any applicable laws.

(d) In any arbitral proceeding arising out of the Loan Agreement or the Guarantee Agreement, the certificate of the Bank as to any amount due to the Bank under this Agreement shall be prima facie evidence of such amount.

Except as the Bank and the Borrower shall otherwise agree, the Loan Agreement and the Guarantee Agreement shall become effective on the date upon which the Bank dispatches to the Borrower and the Guarantor notice of the Bankžs acceptance of the evidence required by Sections 9.02 and 9.03.

The Loan Agreement and the Guarantee Agreement shall not become effective until documentary evidence, in form and substance satisfactory to the Bank, shall have been furnished to the Bank that:

(a) the execution and delivery of the Loan Agreement and the Guarantee Agreement on behalf of the Borrower and the Guarantor have been duly authorised or ratified by all necessary governmental and corporate action;

(b) the execution and delivery of the Project Agreement on behalf of the Project Entity have been duly authorised or ratified by all necessary governmental, corporate and administrative action; and

(c) all other events specified in the Loan Agreement as additional conditions to its effectiveness shall have occurred.

As part of the evidence to be furnished pursuant to Section 9.02, the Borrower and the Guarantor shall furnish, or cause to be furnished, to the Bank an opinion or opinions (in form and substance satisfactory to the Bank), of counsel acceptable to the Bank, in respect of such matters as may be specified in the Loan Agreement or as shall be reasonably requested by the Bank and showing that:

(a) on behalf of the Borrower, the Loan Agreement has been duly authorised or ratified by, and executed and delivered on behalf of, the Borrower and constitutes a valid and legally binding obligation of the Borrower in accordance with its terms;

(b) on behalf of the Guarantor, the Guarantee Agreement has been duly authorised or ratified by, and executed and delivered on behalf of, the Guarantor and constitutes a valid and legally binding obligation of the Guarantor in accordance with its terms; and

(c) on behalf of the Project Entity, the Project Agreement (if there is a Project Agreement) has been duly authorised or ratified by, and executed and delivered on behalf, of, the Project Entity and constitutes a valid and legally binding obligation of the Project Entity in accordance with its terms.

If the Loan Agreement shall not have become effective by the date specified in the Loan Agreement for the purposes of this Section, all obligations of the Bank under the Loan Agreement and the Guarantee Agreement shall terminate unless the Bank, after consideration of the reasons for the delay, shall establish a later date for the purposes of this Section. The Bank shall promptly notify the Borrower and the Guarantor of such later date.

When the entire principal amount of the Loan shall have been repaid and the interest and all charges which shall have accrued on the Loan shall have been paid, the Loan Agreement and the Guarantee Agreement, and all obligations of the parties thereunder, shall forthwith terminate.

Any notice or request required or permitted to be given or made under the Loan Agreement or the Guarantee Agreement, or under any other agreement of the parties contemplated therein, shall be in writing. Except as otherwise provided in Section 9.01, such notice or request shall be deemed to have been duly given or made when it has been delivered to the party to which it is required to be given or made, at the partyžs address specified in the Loan Agreement or the Guarantee Agreement, or at any other address as the party shall have specified in writing to the party giving the notice or making the request. Except as otherwise provided in Section 3.01(b)(i) and the EBRD Disbursement Handbook (for drawdown applications and related matters), such delivery may be made by hand, mail, cable, telex, or telefax. Deliveries made by cable, telex or telefax shall also be confirmed by mail.

Any action reguired or permitted to be taken and any documents required or permitted to be executed under the Loan Agreement by the Borrower, or under the Guarantee Agreement by the Guarantor, shall be taken or executed by the Borroweržs Authorised Representative or the Guarantoržs Authorised Representative, as applicable, or such other officer of the Borrower or Guarantor as such Authorised Representative shall designate in writing. The Borrower and the Guarantor shall furnish to the Bank sufficient evidence of the authority and the authorised specimen signature of each such officer.

(a) The Loan Agreement may be amended by a written instrument signed by the Borroweržs Authorised Representative and by a duly authorised officer of the Bank. In the event that, in the opinion of the Bank, such amendment increases the obligations of the Guarantor, such written instrument shall also be signed by the Guarantoržs Authorised Representative.

(b) The Guarantee Agreement may be amended by a written instrument signed by the Guarantoržs Authorised Representative and by a duly authorised officer of the Bank.

Any document delivered pursuant to the Loan Agreement, the Guarantee Agreement, or the Project Agreement shall be in the English language. Documents in any other language shall be accompanied by an English translation thereof certified as being an approved translation, and such approved translation shall be conclusive.

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