„საქართველოსა და SOCIETE GENERALE-ს შორის გაფორმებული „COFACE საკრედიტო ხაზის შეთანხმება B“-ს (MBDA France ნასყიდობის ხელშეკრულება)“
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🏛️ კომიტეტები
- საფინანსო-საბიუჯეტო კომიტეტი წამყვანი კომიტეტი
- თავდაცვისა და უშიშროების კომიტეტი კომიტეტი რომლის დასკვნაც სავალდებულოა
- საგარეო ურთიერთობათა კომიტეტი კომიტეტი რომლის დასკვნაც სავალდებულოა
- ევროპასთან ინტეგრაციის კომიტეტი კომიტეტი რომლის დასკვნაც სავალდებულოა
📅 დამატებითი ინფორმაცია
ბიუროზე განხილვის თარიღი 2015-12-16
ბიუროს ნომერი 363
📜 ტექსტი
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SOCIETE GEI.!EFALE
By: Eric Allain .ies Beauvais
Export Finance Defence, Seci]rity & Satelites
)}5EOo
SOCIETE GEI{EBALE
By: Eric Allain des Beauvais
Export Finance Defence, Security & Sate rtes
3C
q)an6aiar/cERrrrlEil
8Y
or Irl6r..lio.al Agr..moots oi G.o.9ia
ხელშეკრულება
COFACE CREDIT FACILITY AGREEMENT
(ltlBDA France Purchaso Gontr.ct)
Artlory
GEORGIA
.. ng thtosgh hL UlnLfy ot Fln ca
Acting in lb cspacity as EororEr
Arrlngod by
SOCIETE GEf,ERAIf
Acfjng in its capocity 8s Mardstod L@d AmngBr
i
,
..
llrft
S(rcIEIE GEI{ERALE
Ac{ng in it6 capadly as Orlolnal @FACE L.odor B and Aosnt
I December2015
o
DEPARDIEU BROCAS MAFFEI
AVO CATS
Ar sd re L. F.t-, h. qadE cr at
Elao F | ,.!orda
Rc.
.n a.lra ba rrt ,n,o^SSElElCt
@ -Er .r st
-rhrr d.Ir.- i dagt ,.e.
2
/./
6.b.
2@a&st_t
SOMMAIRE
1.
2.
3.
4.
5.
6.
MANDAIORY PREPAYMENT
7_
8.
INTEREST
9.
10.
11.
12-
REPRESEI.JTATIONS
14.
GENEML
15.
GOVERNING
18.
JURISOICTION. AREITRATION
t9.
COMPLETE AGREEMENT
ANNEXES
SCHEDUTE 1.
coNDtTtoNs PRECEOENT.
TERMS OF PAYMENT AND LIST OF OOCUMENTS TO BE SUPPUEO TO
--_...._................2r
THE AGENT,,,,, ,, .,.,,.,,.,.,.,.,.29
SELIER'S CERTIFICATE.,,.,
scHEtt,r F a
SCHEOI]LE
FORM OF CERTIFICATE OF AUTHORIIY ANO INCUMBENCY OF THE
SELLER
-.....,,...,.,,.,...,.,......-...33
6, FORM OF C€RTIFICATE
2!O2trl05l-5
2
THIS AGREEMENT 16 dated 8 D€c€mbor 2015 3nd mado
EETWEEi{:
ltt lnlrtty of Financo (the BorowGr)i
(1)
GEORGIA ac-tlns thtough
(2)
soCETf GE ERALE, a Frcnch soci6l6 anonyfito whos€ registerod oflice i5 at 29 boulevard
Haugsmann, 75009 Paris, F6nco, reglslered with lh6 commerclal and companies rcgisfy of
Paris undgr number 552 12O 222 RCS Paris, acting as Mandatod Lead Arangor, Agont and
Orlglnal COFACE Lsnder B;
WHEREAS
Purchata Conkact
The Ministry of O€fonca of Georgia (lhe Buyer) has ontsrcd lnto a potchase contracrt dated 1 0
July 2015 with MBDA France, whose registered office h at 1 avenue R€aumut, 92350 L€
Plessis-Robinson, France, rBgbteGd rYith the commerdal and compenl's regisEy of Nanlene
under rumbor 37a 168 470 RCS Nantdn6 (0€ $lor) fo. the supply of equlpmsnt and
assoclatod gervlcos (th€ Purch8c Contta.r).
Ths total pqrchase prico o( tho €qulpmont to b€ deliwred and sorvlces to be p6rfornod by the
(the Tolil Conlnct Prlct)
Seller unde. tho Purchass Contacl amgunts to EUR 24,9E7,750
payaH€ 8r follor/€:
(a)
as advanc€ paynon! EUR 3,7,18,162.50 .epl€s€ntirc 15% of th€ Tolel Coohact Pnce
(t|e ootn P.Ym.r ),
(b)
B.
olh€r lnstallm6nts of an 6g€[6gEto amouni o, EUR 2l ,239,587.50 rsprssontln0 85% of
the Total Confaci Ptlc6.
Cor non Tr,mE Agrosnont
ln oder to asslst th€ Buyef ln ffnanclng equipment and servicss to be delivered unde' th€
Purchase contract, ths LendeB have agre€d to make available to lh€ Bonowor certain faciliti€s
date
on tdms and subjecl to conditiong to bo set forth in a common terms agr€€m6nt of even
agreemenlsl
herewith (lho Common Terfit Agrednsnt)and in the following individual
-
-
a COFACE export credlt facllity agreement €ntored lnlo under the lerms and condltlons
h€reinafler set forlh among ll|o Eorrower, tho A99nt and the COFACE Lenderc B'
whereby the COFACE Lende6 B agree to make availablo to the Bofio'var an 6xport
47'
crcdlt ln the aggregEto maximum principal amouri of EUR 22,753'064
among the gorou/sr'
B have
lh6 Agent and lhe Commerclal Londers B whereby the Commercial LendeB
pdncipal
maximum
to tho Bonower a facility in tho aggregale
a @mmercial credit facility ag,e€ment dated of6ven datg h€rswith
agre6; to make availabls
a;ount of EUR 3,937,403 39 (lh€ Commercial F Glllty Agt'ement B)
C.
COFACE Frc try Ag6.m.nt
The Parli6 have entered into lhis agreement (the Agroom.nl) in order to r€cod the te.m6 arld
condltions upon and to which tho COFACE Lendors B have agreed, subJect lo the terrns
and
e. the COFACE Facitity B in th€
, the proceods of which are to be
applied to finance a portion of the Tolal Conh.c{ prho not exceeding 85% of the Totat Conhact
Pric€ and the .eimbursem€nt o{ lhe COFACE premium lo ihe COFACE Lencters B. Such
p@c€€ds will be msde avatlable bythe COFACE Lendors B direcflylo
2oit2la0at_5
tho Solterorth€ Agont.
IT IS AGREED AS FOLLOWS:
't.
DEFITMO S
For the prrrposes of lhis Agro€mont eaoh capltalizod terms usod hsreln, lrEluding ln recitals
theroto aM not othelwlse dollned herein shall have lhe moaninlB ascrib€d thereto ln daus6 1
of the Common Tetms Agreemont. In addition, th€ follolving te.ms and expressions, when usod
in thls Agrsemen! thall tB!/g 0ls rolowing moanln0s:
Avafhbfllty Psriod m6an3 flo p€riod shrting ftom the signiltg Date 8nd erding on tho eatliet
of (i) the Stading Date of Roparment and (ll) the dato fal,ing 34 mon$s afler tho Signlng Oate.
Avlllrblo Cofimitrnont means the Total Commilrnonts (as may b€ cancoll€d or .educed undor
thls Agre€meni or the Common Terms Agr€smont) minus the amount of all Utilbations med€
svailablo undor the COFACE Facilitv B.
Birys. shell havo the moanlr! giwn to il h lho preamble he.eio.
CIRR mBans 0.87 (zero polnt eighty€even) Per cent per annum, b€lng lhe commercial Inier6si
referonco rate dstermlned ffirding to the OECD Atrangemenl on GuHelines for Ofllclally
Supported Erport Cr€dib 8nd notifi€d by COFACE lo the Agent.
COFACE Faclltty B means lh€ team loan facility made available under ihis Agr€amenl as
doscribod in Clause 2.1 Oho Faclity).
COFACE Ptomium moans lhe pEmium palable lo COFACE pursuant b the COFACE
lnsurance Poliry B.
Common Terms Aoroem.. shall have th€ moanino giwn to lt ln tho pr8amble hersto'
Down P.ym.nt shall havo $e moaning givon to it ln tle prBamble h6roto'
Faclltty D.fault moans a Facllity Evont oI O€I8ult or any €r'€nl o' chcumstanca spocified ln
grace perlod, the giving
Clause 1 5 (Facility Evenb of Default) which nould (with lhe expiry ot a
d notica, Ol€ makirE d any dcGrninatirn under the Finarrcs Docrimonts q any comblnathn of
any o{ fio to.cgoing) b€ a F8.{ity Event of Dofrault.
Flclll,ty Evont ot Dotault me€ns arry evenl or clrqJmstanc€ specifed as such ln Clau8o '15
(Faclllty Events of Dofault).
F.dltty Flnanc€ Party mosns tho Mandatod Lead Arangpr in conn€Gtion t$h th6 COFACE
Fadlity B, lha Agent ln connocdon rvr'h lhs COFAoE Fadlity B or I COFACE Lsndor
I
Flnal durlty Dats mg.ns th€ dato talling 5 }!ara afi.r th€ appliceuo 8ia' ng Ostg of
REpayment,
Fl tt R.p.yrrd Drt mes,B the date falling glx (€) monlh afior th€ apdlcaue StartiE Dato
of RepayDent.
Fl..t Uttll.ltion D.t! mcaru $o date on wt ch the lirsl Loan under tho COFACE Facllity B is
mado by th6 COFACE Lgndors g io tho Bonotla€r.
2na2t&51_t
5
lntercrt Patrment Oala means:
(a)
each dete faling 6t six (6) monlh lnleryats from th€ First Utillsa on Date unll the Starting
Oals of Repaymont,
(b)
the Stading Date o{ Repayment, and
(c)
€ach date fa tng atsk (6) month inte.vals from the Stadlng DEtg ofR6paymont unlttho
Final Maturity Date.
lntort6t Poriod means, ln relation h a Loan, 6ach porjod deiermined ln accordance wllh Oause
I (lnteresl Periods) and, In relafloo to on Unpaid Sum, each perlod dstermlned ln accodance
wilh Clauso 8.3 (Dsrault lnte.esl).
' Loan moans a loan made or to be made und€r tho COFACE Facitity I or the pdrdpal amounl
outstanding tor tho rno botng of thet loan.
Majorlty Londors moans a COFACE Lende, I or COFACE Lenders B wtlos€ parttcipation
(d.a1dn and undrawn) agg.€at6 moro than 6611% of the
Total Co.nmibnenS 1or, f Ere totat
Commitnonts havo boon reduced to zoro, aogrsgqted more than 662% of
the Totat
Commiknsnts lmmedtately prior to lhst r€ducflon).
llargln means 0.40 (zero polr forty) por cont p€. annum.
driginal COFACE LsndeE I shall have the meadng given to it in th€ prBambb hereto.
Parly means a party to thj€ Agroomoot.
Puldl. e Contracl shall have the meaning giv€n b lt ln the p,€ambte hseto.
R6paynont lho means €ach of:
(a)
(b)
016 First Repayrn6nt Oate;
sf,sr the FirstRe@ymert Dat6 but prior b tho FlnslMatudty Oate, oach dat6
fallng six
(6) months affer the ,iei€ding Repayrnenl Date and whtch shall
fa on
Payment Dato; and
(c)
an lnte.est
tlE Flml Mat/riv Dat€.
Rop.yrnont ln almont mBans each scieduled instalment for rep.ymont of tho Loans.
Sellor shall hav€ the meanlng glven to it ln th€ pr€amuo hdoto.
Solie/. Ce,tttlcato mean! I csdtficats delivorrd by tlg S€ller to he Agenl sub6lanually ln
the
,o.m set out ii1 Schedulo A'(Sdter/! Codiflcato).
Slgnl.ii D.tc ,reans the ddb of hb &rsement.
St rting.Dste of R.paymant means lhe eadier of tha follo4ring dates (i) the dollv.ry
at Tbilisl
fpo-! ot^ttre lul1nent ard.Eorvtc€a und6r th6 pudl83et(int ad end (ii) fis datoLltng z€
montB afier tho Efiectivo Dfi.
6
Total Commltm.nts means the cgmmitments of tho COFACE Lenders B belng
EUR 22,753,064.47 (twentrtwD mllllon geven huMred snd fifly-lhree thousand and slxty-tour
Eulos and fody-s6von o€nls) at ths dato of this Agroomgnt to tho 6xl€nt not cancellod or
rcduced under thls Agr€ement or undd tho frftmon Tdtng A€rEoment
To(al Contrac't Prlc. 6hall hav€ lhe m€aning givei to it in tho pEarible he.eto,
Uillildon mgana a Loan.
UtllLetlon D.t means the datg of a Utllisaton, belno ths dato on wfiich the rolovant Loen ls
to be made.
T}IE FACILITY
2.1
f,lre F.cllltv
COFACE
Subjecl to th6 torms of this Agreoment and the eommon Te'ms Aoresment, tho
maxlmum
smount
ln
8n
aggrcgEto
Lende.s B make avallable to the Boroe,g, a lerm loan facility,
equal to the Tolal Commibn€nts.
The Borossr shall apply all amounb bo.MrEd by it urder lhs CoFACE Facafty B to
(i)
''
linsnce:
Wdfscrirdfi6i{AdtFo S6lbr up to e maximum amounl ot EUR 21,239'587'm, 85%
i ttre toui Conbac,t Prica as 3et ffih In sdrcdule 2 (retms of palm€nt and lbt of
docum6nts to b6 suppllod to lho Agent) othet than tho Down Pafient, and
(ii)
'l'513,'t70 97' tho
bi, dhoct:Burlbnfrd*o Ar.t'lt up to e maxinum amolnt of EUR
,eimbursement to ths COFACE Londss B ot dl or patt of he COFACE Pr€mium'
2.2
(a)
The BonoM/sr's obllgations (including, without llmltaton, lts payneri obllgstlons) under
lhis Agr€ement arg uncgnditonal and lnsvocaue and ac'cordingly alo not:
(i)
subjec-t ttr or dcPondcnt uPon the executon or Pedormarrco by th€ BonoMler,
the Seller or any oher person oa ib obltlslions und€t tho RlrdEs€ Cootrad or
arry agre€menl rclated thereb; nq
(i0
atrectod or dls.ha€6d by any matter afro(dng lha Pudlas6- ConEact including
the follo\'ving:
(A) any dispute und6r ths Purch$o ConFacl nor any daim whith the
8ollotet or the S€ller ol any olher po6on may havo agalnst, or
consHor thst lt has agEinst, any p€rson under the RJniase Confact;
(8) ths insolwncy o. dissolution of he 56110r;
(C) any aclion or inaction (rvhsh€r negligenl or by wiful misconducl or
ftaud) ot the Seller (or any ol lts aOonts, @ntraclors' offoers or
emdoyoos);
200214051_5
7
(O) the So er b6ing subj(d to an amatgEmaton, deme.gEr. merOor or
reorganizaUon;
(E)
eny un€ntorc6ability. lltegallty or invalk ity od any obligation of any
peEon under tle purchado Contracl or any documonts
or agroemonls
relating to tho tturchase Conlract; or
(F)
tlle b.Bach, iustratirn o. non{rlfilmentofany pro/isbn ofthe purchase
Conhact ot any do@menb or ag.esment! .qlaH theElo o. the
destruc0on, non-compleuon or non-funcllonlng of the equlpment
delivered pursuant io the purdlaso Contract;
and the gono*er acknowlodg€s that Iho fo.€gDlry is an a3ssndal
condition of sach
COFACE Lende6 B's enby into this
&reoment.
(b)
The 8onor,lBr aOre€s that lt willnot daim lo bs rEliov€d of tho pgrtornance
olany of iis
obligations under this Agre6ment by reason of any falluro,
dolay or defsutt whaboevor
tho parl of th6 Sellor or th6 Bu)€r ln the performarrco of lts obllgEtjons
undor the
9n
Purchase Conbacl.
F.cllftv Ftrlancc pilit a! itstib dnd obfiolt orl!
Unlgss_all-iho Facllity Flnanc€ pa. es agree otheMss and subject
lo the provisions o, tho
COFACE lnsurance pollc, B and thB rulss applhable to gxpo.t
crBdit strppo;ed ly COflCe
whlch shafl p.evall:
(a) tho obligatrons ofeach FaciltyFinance party under ths Financo Docrrm.nb aro s€vorar
and fallure by a Facjlity Financ€ pa.ty to p€rform its obligatong-doos
not affect the
obl,gEtions of any oth€. p€con under the Finance Oocumenb;
(b) no Facility Flnance party b respoosible tur th€ obllgadons of 8ny ofi€r Fadlity Finance
Party unde, ths Finance Dodmenb;
(c) ths rlghts of a Facility Financo paro, under the Finan@ D@Jmonts are sepa|€to end
lrdependont righh;
(d) a debt arlEing und$ the Fjnarce Dodmonts to a Facility FimrE pErty is a separale
8nd indepond€nt debt
trto ditvdr'theFdiltlte}.tti-iii pbr
2.4
.,
ThE Facility Finance parti€s shalr havs no duty or labirity
Bono$rer any infonnaton wh $ comes to thot knowlsdgp
Purchase Conlract Excapt a.s expregsty provided fur fn
2.5
whatso€v€r to communicato to tho
r€gardirE lhg p"nt .ir,"" ot t
"
frts egreemeni.
tloilfttihi
No Facility Finance party b bound to monitor or veriry tho
pur8uant to thb Aor€€m6rlt.
spplication of .ny amoo.rt borro!!,ed
20021aoa1j
8
3.
coxDmoNs oF LmusATloN
3.1 lnlthl condldons ortcado
Tho obllgatbn oflho COFACE Lend€6 B to mako ths f'st Ulilisatbn und€t th€ COFACE Facility
seller's
B to linane the Total Coohacl Price shall be subject prior to or on the dab of tha first
C€rtfilcstB, to .€colpt bY Ua Agent:
(a) of ths documonb and other evidonce set forth in Sch€d'Jl6 I (Common Condilions
Pr€c€d€nt) of the Commoo Terms Agra€m6nt ln form ald subst'ance satisfacbry to the
Agent,
(b) of ths doc{,ments and other evidenoe llstod ln Sdlodde I (Cotdltlons Precedent) ln
fom snd subsbnce salishdory b th€ Aoenl
(c) of tho corfrmadon ftom Natijs Dir€dbn d€s Ac'iMt69 lnstit'tonnollss that tho lnt€r€st
,
makeup arrangamont with Ule Fasndl Authoriti6 b mako tho COFACE Facility B
(Cosls in@r'ed by
available b the Boroner at tle fd€d ratg at sot forlh in Chus€ 7'7
ald |txdemnity to $. COFACE Lender8 B a.d/or ihe Frcnch AutDtilies) b in tull forco
snd otf66-t in resp€d of oadr COFACE Londer B' 8nd
(d) of satkfadory evldence ttBt the Oo!'vn Payment duo to the S€ller und€r the Purchass
Confad has b€€n PaU lo lho Sdlor.
Tho ooligation of tho COFACE LBnders B to mako the Utillsation und€r the COFACE
Facllity B
tofinanceth6@FACEP'emiumshallbosubi€ct'priortooronthedateo'th€Ulilisation,toi
lEc€lpt bY the Ag€nt:
(al
(Common condilions
of tho doolmonb and othor evi,e'|ca get foih in scMulo I
tho
P,Ecsdonf) ot tho Common Terms AgaE€msnt h form atd substanco salisfaciory to
AS€nt,
(b) or lhs doqlnenh ad ottEr €vid€tEe lbt€d ln Scheddo t (Co'ditions Ment) ottEr
than thoce s€t fofi h s€dion 4 of Sdcdule 1 (CondltklE Prec€d6ot] in fo'm and
subolanoo ssltshdo.Y to tho Aopnt
3.2 Fuilharcodlihia'.biairfitllndludi$r6alLitl'SlLlbnl
:
undq tl€ dofnCe racitity
The ouig€tion of $6 COFrcE Lenders I lo mek' eedr Utlbation
pr*;e strall be suojod, on tho dato of hd Sol6iscerlilhat€ and
B to fma;co tl€ Tol,al Conract
follo$ng condiiions:
the Utlllsathn Oatg, ln a nanns saii6laclory to tho &Bnt' to the
on
(a) th€ AO€nt has receiv€d the Selb/s C€rflficate:
(b}th€Ag€nthasB>eived,togplhefwiththgsello/sc€fliflceto,tho.pbyflentdocl,menlg
bo suppli€d to tho
listed ln Stfredrre 2 (torms of psyn€nt End list ot docu(lo{F to
Ag€r ) In ,€3ped ot t€ t tilisation to bs mado on su'fi UUllsathn Oab;
(c)
(d)
2o02la05t-5
tho csrtfcalions nad. by th6 Seller In tl1e Sell€''g c€rtficalt
no Fadllty Madt b co.rtinulng or trould r€sult lrom tlE
ar6 Eue ln all rosp€cls;
p'op('sd t'lilisdhn;
I
(g) the representalions and warantios Mtich ar€ th6n lo be made or deemed to bo
repeated by th€ Bonolter under Clause ,2.3 (Times wten representations
aro tue ln all matedalresp€ds;
arc made)
(0 th€ making of th6 Loan lvould no( cause tie Total Commllrnents to be exceed€di
(S) the Borower hss paid the COFACE premium in fult to the Ag€nt pursuant to Clause
1 I .2 (COFACE premium) or tho COFACE premium
wi b6 paid ln tull b tho Agent by
way of the frst Uutisa on under 0|o COFACE Factity B;
(h) the Agent ts aalisfed hat:
(i) the credlt lnsu.ance cov6r undor the COFACE lnsuranca policy B hag bsen
issued on terms covedng poll caland oommercial risks extending
(95) per cent. of fi6 Loans (inc.luding ths proposed
0l)
to ninety_five
Losn);
a[ condllons of th€ COFACE lnsurance poliry g aod the rotevant ctodit
insUEnco cover have b€€n (oa will have been immedlatgly upon payment
retevant COFACE pl€mtum) fumlod; 6nd
0[)
(0
0)
(k)
the COFACE lnsuranc€ pollcy B Ie tn tullforce and off€ct
the Agent has not rscoived a notice from COFACE requ€sting the
COFACE Lendo.s B
to suspend the making of the Loan (or, if the Agsnt hEs receh/pd
suci a md6. lhat
noflca has b66n tvitMrawn);
I
the COFACE Londors are not requlrod by the terms ol tho
COFACE lnsuranco policy
B to suspeM th€ maklng of the Loan;
any Authorrsation, r€quirsd for th€ purposes of his Agreomont
rsmahs in fullforco aM efied;
(l)
of th€
has bogn obtarnod ard
the Ag€nt has recelved such other documenb, c€rtifications,
ot othol ovidenco es tho
Agent ac{lng on tho lnsfuctions of COFACE may roasonably
r€quhe with Espect to th€
Bonota€r or in conn€dion with thls Agtedment the Common
iems agrcement, the
Purchaso Contracl or the COFACE lruursnco policy B;
.(m) lhs Eono$/er has not chaleng€d or rovokad f|o paynent mechanbm sstforth in Clauss
4.1.
T]le obltgrtion of &o C,OFACE Lendcrs B io meka $a
I
Utilisation und6r th6 d6FACE Faci ty
to flnance the COFIbE pmmir. sha bs subJ€ct on
tf,e Utiliaafion Oai, in a mannor
satbtuory tq tho Aob';t. b tho condiUoB lot ft.fi abore ercept.the
dond;;rrs set fo.th in
p8ragrephs
(a), (b), (c) and (O).
3.3 thllmumnqdldt6furlit.r0on
No moro than tlvo'utilijsuons ln any 3oday
rEilod csn be made.
2002irosrj
10
UTILISATIO'{ - IRREVOCABLE DIRECT PAYMENT
ln6voaablo dli6c-i peun6nt
4.1
(a)
The CoFACE Faclllty B sha[ only bo mado availablo:
-
by direc{ pafnents to tho Sdl€r lor th€ payment of goods and s€rvic6 eligible
for CC,FACE in accordance with lho terms of Ule Purchase Conltacl, and
.-
by diBcl payment to the Agent for tll€ Elmbursement to the COFACE Lende's
I of ltlo COFACE Promium.
(b)
ln respect of payments to th6 Agent, the Eorfo$€t hsroby mandateg tho CoFACE
Lenders I 8nd th€ Alpnt to pay to the Agent tho amount ot lho COFACE Promlum due
to COFACE as 86t forth in lhe COFACE lnsurance Policl B 8s soon as tho COFACE
payment
lnsurarce Polic, B b issued atd signed. Such mandato and lnstrudions of
her€abovo, wtlich are hercby eeptod and acknowledged by tho Ag6nt, the COFACE
(nandat d'inbrel cammun)
Lendeas B and th6 Boraovrer ale made in lhoir ioint i iletesl
withoul tho oxpress
modified
and ale thetBforg irevocable and may not b€ revoked or
writton consent of eadl of such Partios.
(c)
ln respeqt of paymenls to ths Seuer, each Loan under the COFACE Facility B will be
made available by the COFACE Lendec B directly to the S8ller on b€haff of the
Borort9r by thg &ent crediting U|€ procssds of he Loan lo lh€ account specm€d in
th€ relevant Selle/s Ce,tificate.
mado
Subjed to the oth€I lerms and condilions of lhis Agreemenl p€rments should be
guslnBss Oays iom lho datg the &ent ha8
to the Sell€f $ithln no more tlan ten (10)
r€calved, ln tonn and substanc€ satlsfactory to the Agent
(i)
the S6lle/s Certilicate; and
(i0
the paym€nt documenb listod ln Scheduls 2 ffctlns of p€yrnents and list of
documonls to be supplkd to ths Agent).
B and the
For such purp6e, the Bonorver hE8by msndates the @FACE LendeB
s€ller and
Agont to pay to t|g seller fle porton ol h€ Total Contrad Pdce due lo the
as set
amounts
tor
such
dates
and
to ue nnanced under ltre COFACE Fsqiity B at ths
the
forth in Schodule 2 Cferms of payrontg and list of documents to bo supplied to
ot the
Agent) upon prosentation of lhe doqrmenb desctlbed ther€in and sadsfaction
condltbns prcsdent ot utilisation sst Ml ln this Agr6€ment'
and
Su€h mandate and instructio.s of paymont h€teabove, which are hsroby acceptod
are mads in
acknowl€dgpd by tho &Pn! lhs COFACE Londers B and the Bo[ot'/sr
and may rlot
i'rsvocable
are
lMore
nunl arl
th€ir jolnt lnigrgst (rhardat dffirlt
6ach of su'h Parti6s'
bg rsvokgd or modifled witDd th€ oxpt€gg witte' cons€ni d
@
(d)
itseff
The BonotlBr acknowiedg€s that any amounts $edited to thE Ag€nt or lho Sell€r
for
Agreement shall constitute a Loan mad€ avallable to tho Borou/gr
pu6uant
to thls
&e purposd ot this Ageement.
2o02rao51-5
11
(e)
The Eonolver turlher acknowledges that no Facllity Finance party
has any obligalion to
verify or ensure lhe Oenujn€ness or aca)tacy ot the athchments
Cerliflcale submitt€d by the Borower or tho Soller
(0
The Agent shall notify to the Borower lho dato and amount
of each Loan made
availablo to the BonowE by dir€ct paymenl to the Seller no let6r than
Days fiom tho rBleyant Utillsation Date.
(g)
to any-Sellefs
iO (ten) Buslness
Tho Ag,enl will mainiain in ib books an accoonting srltem
sho,ving th6 amount of the
p.incipal denomtnated tn curency of tho COFACE Facitity
B ou;ianding under ths
Agreomgnt. The accounting system shall, In th€ absoncs
of manfl,eJ enor, be
conclusive as to the amounl owing by th€ Bonower uMe. tho
Agreement.
Comoiada[ of r.A.fb/r Cadncah
Each Selle/s Cettflcat€ b in vocablo and will not be r€gard€d
unless:
as havlng been duly completed
(a)
lho Utilisation Date is a Business Day withln f|e Ayaitabiliry p6dod:
(b)
the orronry spscmod in th6 S€Ie/s C€rtiicale 18 EUR;
(c)
the amount roquested by th€ Seler ln the S€ll€/s Cedmcate
must be a minimum cf
EUR 1,0m,000 or, ,f less, tho Avalable Commltnent and 6hall
not exceed m evaffalfs
Commltno. ;
(d)
ihe Sellor a0ach6 to the Selle/s C€.tjficate all relevant docJmonb
provided as per the form fo. that Sofl€,,s
(e)
required to bo
-Cortiflcste, satisfactory to lhe Agent; and
tho.Sdl€is C€rtificat€ is erocut€d by a p€rsoo duly authorisod
Sell€..
to do so on b€half of thq
4.3
(a)
The Agent sh€ll prcmpty notify each COFACE Lsnder B
of ths amount of the relevant
Loan, the amount of lts parlictpaflon in tle rElovant Lo€n,
and othor infolmation contain€d in tho Sdks Certinc"te
Days Mors lhe t tilisaljoo Date.
(b)
the accoqrd for Er"t prrp"*
no faf* fun f,ree Ausfness
lf lhe clndltlons set out in this Agresmenl haw b€en
net th6 COFACE Lenders I shatl
mako thet. panicip€Uon in each Loan availeblo by ttre ulllseUon
Oate througi ttreir
Fadlity Ofr@.
1.1
The Ag€nt shall not be responsible for orGmining
the documents:
(a) provided pu.suantto Clause 3.2; or
(h) includ.d with or aflachcd to 6ny6€ll.r,r Certiflcats;
12
6xc€pl to asc€daln that lh€y appear on lhelr fa(E to be ln compliance wlth tt|e r€quiaem€nts of
lh6 Financo DooJmqnts. Foa lho purposo of ihls Claus€, appear on lheir faco has ths meaning
asctibGd to it in lhe latost version of tho Uniform Cwtoms and Pradi@ tor Documentary Credits
ot th€ Int€matlonal Chamb€r of Commerce (at present ths latosl verslon belng ICC Publication
UCP 6m - 2007 ve6lon).
4.5
Se!c.I!{9!-94I!ElSss4@!
(a)
Tho Total Commihents which, at tlst Ume, ars unulilised shall bo lmmediatsly
canceled at lhe ond of ths Avallability Perbd.
(b)
g
lf no Ljtilisation has besn made available undor the COFACE Faclllty 6 nonths efter
tho Signing Oate, lhe Tolal Commihnents shall be lmmedlatdy @n@lled unl6ss
other$/iso ssre€d botwe€n Ulo COFACE Lenders B, the Bonow€r and COFACE'
REPAY ENT
5.1
ahr6riliY
(a)
Ths Bonor,rBr shall Epay thg Loans 8s follows:
(l)
All Loans made availabl€ during the Availaboity Pedod wlll bo consoljdated on
th€ hst day of that Av'ailability Pedod.
(iD Al the Loorrs 6hall b€ r8paid ln full in ton (10) cons€4tiw sgmi-allnuel
i |stalments o, oqual amounb in principal.
(ii0
Th€ first Repsyment lnstalm€nt must be paH on tle FiBt Rspayment Date atd
Date
subsequ€nt Ropaynsnl lnslialments musl be paid on oadl Rqpaymont
pald
on lhe Flnal Matu'lty
th6r6afl6r. The flnal Ropavment lnstalmonl mu3t be
otlollvise
fall b€lond the Flnal
would
that
Date, and any Repayment lnslslmenl
Matu.ity Oato shall bo deemed to fall on the Fhal Maturlly Date'
(b)
Ae sooo as practcaue affsr tE end ot the Availability Pedod, tho &ent 3hall
ptovft'o
b th6 Bomws end he COFACE Lenders B e Epayrnent sclBdulo ol tE adud
Ropaymmt lnstalmenls wfii$ ar€ to be psil by tlo Borlon€r'
(c)
5.2
The Bonovsr may not re$onaw any part of the COFACE Fadlity Bwhlch ls ropaid'
E foc't ol c.nc.ll.{on rnd ortoqhani irn .Gh.duled
lta6li.iliirdftdu'tldrl.
lf any of th€ Loens qle propail in accodanca vrith thls &remont and the Common Toms
Aoreement th€n tll6 amount ot the RepayDent lnstalmeri fo' eadl Repaynont Oats talling
aier that cancaltauon or p.epaytnert (43 spplicabls) t^41 be rcdusd ln InveGo dmnologlcal
p.opail (s6applicable}'
order by he amour{ carrcell€d or the amount of tho Loan
13
6.
MANDATORY PREPAYTTEiIT
6.1
lllitdlltt
lf il is or Decomes unlaMul in any appticabte jurisdbtion for a COFACE
of lts obligations as conteDplated by lhls AgEement or to ,und, lssue
Londer B to pcrform any
or maintain [s par{clpalion
in any Utilisatjon or it bocomes unlawtul for any Afiitiate of a COFACE Lendoi
COFACE Lendor B to do so:
A for that
(a) that COFACE Lender B shal pro.npdy notfy the A0erf upon b€cornino awa.e of that
olent
(b) upon the Ag€flt notifying the BonDvt/er, he commibnont of that COFACE Lsndor B in
(c)
the Tobl Commltments will b6 lmmedlatgly canc€ll€d; and
tho BonorDr 6hall repay that COFACE Lende, B's partirpation in the
U0tisatons made
to tha Borou/er on the tast day of the lnterest p€.iod for aach Ulfiieation oc.uring
aft€r
the Agent has rnfitH fle Boro$rEr or, il earll€r, the date speciH
by th6 CO;ACE
Londer B in lhs notics deliv€rod to the Agent (being no eartier than
the last day of any
applicablo grace p€.iod permltted by law) ard th€ commltront
ot that COFACE Londer
B ln tho Total Commitn€ots 6hall b€ cancelled ln the amoud of
tho partclpsflons
repaid.
6.2
lf th6 gonot!tsr sdb, trarufers or disposos of hg equlpment purcha6od
undsr the purchase
Conhaci 60 that tho own6rship or hs right of dlsposat A su*
equipmeni i" t-"n.r"*a to
person othor than the Borow€r, lhe Borrou/o. shall immediately
rBpsy thg Loans in,u[ end the
Total Commlbnenb shall b€ cancslled,
"
7.
RESTR|CTIOI{S
7.1
Notlcoa of Cancoltsllon or praoavmont
Any notice of prepayrnonl, authorisation or otier election
oiv€n by any party unde. Clause 6
(Mandatory Prspaymont), ctause 5 (Voiuntary propayment
aM Canc;hUri ot tre Crmmon
Terms Agr€ement or clause 6 (Mandatory ftopaynent _ SaMIons)
Agreement sharr (subj€ct Io the lerms of those crauses)
of th6 Common Terms
be inevocebi€ and, unress a conirary
indicalion appeac in this Agreement or the Common Tenns
&rs€m8nt, shall specify lhe date
or dates upon which tho rctevant cancellation or prepayment
b Io be made and lhe;mount of
lhai crncollafion or prepayment.
7.2
?.1
The Bonower msy not re-borrow any pa of the COFACE
Facility B whlch is prepaid.
14
7.4
Propavmont ln accordanca wlth Aocamant and Common Tstma Aorcsmont
pait
Th€ Bono\^/er shall nol ropay or prEpay all oa any part of lhe Unisations or cancel all or any
provided
for
in
this
ot the Total Commiirnonts excopt at the limes and ln tho manner sxprossly
Agreement or in lhe Common Teams AgrBement.
7.5
ase!$scgplef.Eellsls
lf the Agont rgceives a notlce undor Clauss 6 (Mandatory Prcpayrnont), daus6 5 (Vduntary
Prepayment and Can sllation) of the Common Terms Agreement or clause 6 (Mandatory
Prepaymgnt - Sanclions) of fE Common Teins Agreement, il shall p.ompty fonxa'd a copy oI
that notice or olecilon to elthor tho Eorlow€r or lh€ afiected COFACE Londer B, as approprlate'
7-6
I
p.€paid, an amount of the
lf all or part of a Ulilisataon undor the COFACE Facillty is repakJ or
prepaid) in
Total Commibnsnts (equalto the amount ot thg t tilisation whlch is repaid or
'esp€ct
of tho COFACE Facility B will be deomed to be cancelled on th€ data of repalment or
prepayment. No Emount of lho Tolal Commitnents canc€ll6d und€r thls Agreement may bo
subsequontlY reinstated
7-7
(a)
The Bonower acknowiedges ttEt:
(D
in order to make the COFACE Facilily B avail€blo to lh6 Bono"€r at the fixod
rate, the COFACE Londers B and the French Authoritios have entorod lnto an
inlersst make-up arrangement;
(ii)
in connecllon with such lnler€st mako-lp arang€menl' it is Ulg policy of lho
F.ench Authg.ities to entor into h€dging arrang€ments or to causo hedging
arangemonb lo bo entersd into with third padios, in ordor to prctect themselves
ftom adv€Eo mov€ments in inteaest aatos; and
(iii)
it is acco.dingly ,easonable for lh€ COFACE Leraers B and tho FBnch
AJthorities to l€ly upon tho conlrnuan@ of lhe COFACE Facility B msde
arailable horcund8r according to its original gofilo when such hodging
procedure was implemented, on the assumption that all amounb of principal
and interesl p8!.able by the Bonor't/or under the COFACE Facility B wlll bo
rec€iv€d on thoi dus date6.
(b)
Accordingly, the Bonotr€r irIwocably agr6€3 that:
(a)
lhe Bonowgr shall (to ths €xtent paid or payable by tho Ag6nl or any COFACE
Lendor B) reimburss to the Ag6nt (fo. the account of tho COFACE L€ndgls B)'
costs, €xp€nses and lndemnities wtich any
upon domand,
COFACE Lendor B may Incur under applicabl€ Intet€st make-up srangEm€nts
all
of
with the Fr8nch Autp.ilies in oonnedion with any partial or total
lhe COFACE Facility B of whateve. natuG, wlElher voluntary o' mandatory or
by aclelerallon, pursuant to any of the paovislorE of lhls Agreemgflt; 8nd
prepayrnont
15
(ii)
und€r srch anangemenls, th€ amounl of any indeftnity so pafabls is
lo be
detehined in agreement with lh6 Frgnch Authorities and will be calculated as
specmod hereafter.
(c)
The amount of tho indomnily pafdbl6 by th€ BoEorrer under paragraph (b)
of thjs
Clause 7.7 (Cosls lncuned by and tndemntty to the COFACE Lsnders B and/or the
French Authorltles) is to be determined by taking lnto account the dlfferenlial
belween
the contrcctual inierest rate applicabte to the COFACE Facility B and the prevailing
martel redacemont lErte ror lhe amount of each instalmonl of pdncipal
to be prepai;
aM each of thoso raio differontials will be applled to lhe amount of ths coresponding
instalm€nt of principal to be prepaid for tho period ftom the date
of such prepaymen'i
until the origlnally schedu,ed Repayrnont Date. Tho amount resulting fro;
th€
determlnatlon of the indemnity plrsuant to thls paragraph (c) shafl then
boliscounted
al the conssponding ma*ot replacemenl rate and where th€ lotal of th€
discounted
amounts thu6 obtalned is negative, no indemnity shall bs pafabte
to tho Bofo$€r The
Agent shall noufy tho amount of th€ indemnlg ln Mi ng to
the Bonowsr two Busines;
Days prior to the dalo of prepayment.
(d)
Tho Bonower ackno*ledges and agrees thal th€ amounb pa)€ble
7.7 (Cosb Incun€d by and lndemnity to the COFACE
under this Oause
Lenders B and/or the Frsnch
Authorities)ars in addltion to a amounts payable by it underClause .10.3 (Break
wflh respecl to any prepayment or €ny other amount pa)€ble
Costs)
under this Ag.eem€nt.
II{TEREST
C.lculation of intor.st
8.1
The rato of interest on each Loan for each lnterest period is
the percenlago ral6 per annum
equal to 1.27% which is the aggregato of:
(al
lh6 Margin; and
(b)
CIRR,
Piiinieit af liLrrt
4.2
The Eonou,rr shall pay sccrued interost on the oulstanding
amounl of ead Loan on each
lnte.est Paymont Oats. ln all ciulmshnces, any inter€st paid
to th6 Agent (for the accour* ot
each COFACE Lender B) ts deiniflvoty patd .nd is not retundabte (exipr
fn
6raoa).
8.3
o""of iann"*
lHauh lnter.rl
(a) lnt€re3t shallac.ruo on each Unpald Sum dug to the Facntty Financo parUos ftom its
dus.date up to th6 date of actuat pafnent at a rat6 whi$ is €quat
to th6 aggrsgato of
Iho lntgrest rate catculat€d pursuant to Clauso 8.1 (Calqltaton
d int€restf i"ai.Oox,
durlno the period of non-payihenl. Any hterest accruing
(;autt
undor thls Clauss 8.3
tntorest) 6hal be tmmodiaiety payabt; by th6 Bo,.*"r-""
a-"rJ oy-,i" loii-
20021a051
t
16
(b)
Default inlersst (if unpaid) arising on an Unpaid Sum due to lho Facility Finance Parti€s
will be compoonded wilh lhe Unpaid Sum at the end of each lnteresl Period applacable
io that Unpaft, Sum (to he extent permitted by applicable laws, it b€ing specmed that,
as ofthe Signing Date, intorost may be compounded with the Unpaid Sum due to the
Facility Finance Parties if they are due for moae lhan twelve months) but will remain
immediately due and Payable.
Notlfl crtion of intorests
a.4
The Ag6nl shall nolify lhe Bonower the amount of intercsts dug in respec'l of each lnter6st
Period.
INTEREST PERIODS
lnt6rcst Pedods
9.1
(a)
(b)
Each Loan has successive lnterost Periods.
Each lnterest Period shall have a duration of six (6) months save for the initial lnteresi
Period for a Loan which will be the pedod from and including its Utilisation Date to and
including lhe nexl lnterest Payment Date and for lhe lnteresl Period ending on the
Starting Date of Repayment.
(c)
Each subsequent lnterest Period for a Losn will start on the expiry of the preceding
lnterest Pefiod and end on tha nexl lntercst Payfient Date.
(d)
(e)
An lnterest Pedod fora Loan shallnot extend b€yond the Final Malurity Date'
Each lnteresl Poriod for a Loan shall slart on the Utilisation oato or
on the last dayof its prec€ding lnt€rest Perbd.
(if slready made)
Non€ualnoss Oavt
lf an lnterest Period would othe iso end on a day which is nol a Business Day. that lnteresi
Period will instead end on the next Business Day.
9.3
gsrslCEle!
AllLoans willbe consotidated into, and Veated as, a single Loan on the lastday ofthoAvailability
Period.
10.
CHANGES TO THE CALCULATIOT{ OF INTEREST
1ol fI!*,@Dgs!
then
(a) f a Market Dlgruptio.l Ewnl occurs in rela[on to a Loan for any lnterest Period'basis
(3ubi6d to any sltorn5tive
the &Ent thall promdy rloiiry lhe Patti€ lh€tsd, snd
tundhg) bslow)
agread as contemplabd by Clsuse 10 2 (Altetnativo basb of ht€r€€t or
qf
Period shall b6
for
the
Inter€Et
that I'oan
the rate of intorost on ea.fi Lsnd6/s shaE
ths psrc€ntagg rate p€l annum whlch is the 8um of:
(l)
20021/o5i-5
.lhsMargln;and
17
I
(ji)
lho rate notiried to lh6 A96nt by that COFACE Lender B as soon as practicable
and in any event by closo of businoss on lhe dalo falling five Business Days
prlor to ths daio on wfitch lnldest ts dug to bs pald ln
respoct of that lnt€ro6t
poriod, to bs thal wl ch gxpressos
as a percentage rato p6r annum t,lo
aggrogEto of CIRR and any additonal cost to thal COFACE LoMer
B of
procudng tunds to be made available to lhe Bor.owor al
the CIRR rale ln relation
to that Loan from wfiatever source it may reasonably select.
(b)
tn this Agreement:
Ilartor Drlrupflon Ewnt means beforo doso d business in paris on th€ Quotation
Day for tho releyant lnle.est pe.iod, the Agent receivE rlolificalions
io.n a COFACE
Lender B or COFACE Lenders B (wfiose panjcipations in Loans
exc€ed 33%% of tho
Loans) that the cost to them of funding its padiclpallon in a Loan
from whatever sou.ce
it may .easonrbly s€lect would b€ in excess of th€ lat6 at whkh the
EURIBOR
componenl of any paymer{ ,ecelved oa (ioivable undor he lnt€rest
make-up
arang€menl enterad into fi.th h€ Fr6nch Aulllo.iti,6 for that lnt6rsst period
calculated.
is
10.2 Art mldw b..b orlnforl.{ oyfu dlnq
(a)
lf a Ma*ot DlsrupUon Event occurs and lh€ Ag6nl or the Borow€r 60
Agent and the Borowsr shall enl6r into negoua ons (for
rcquir€s, lhs
a poriod of not more than 30
days) with a vi6w to agraeing a subututo basis for dotennlnlng
the rato d ir{erssl.
(b) Any altemativo basb agreed puFuant to paragraph (a) shall. wih tho prior consent o,
allthe COFACE Lendef3 B and lho Bo.rowe., be blnding on all parties.
,0.3 Brr.k C6!t
(a) The Bonow€r shall, wlthln lhre€ Business Da)6 of dgmand by a Facllity Financ€ parly,
pay to that Facirity Financ. psrry its E,"ak co6ts
atirhrbHe to a, or any part of a Loan
of Unpaid Sum being p6ir, by th€ BoronEr on a dsy otllgr than tho |rnel€st payment
Date or the last day of an lnteresl period fo. frat Loan or Unpatd
(b)
Sum.
Each COFACE Lender 8 shall, as soon as rBasonably practhablo
afl€. a demaM by
the Agent, provide a ce.0llcate confirmirE the amount o, ib &e€k
Costs for any lnter€st
pedod in whlch they
acqua.
11. COFACE, CbFACE PREIIUX, SUBROGAIOiI
., COFJiCE oventde
'1 1
|,lot*ithsbnding anythlng to tig contrary in this Agr8omor{
pady ro acr (or omit
:b]if-rjl_iT,,g:T11*
roqursment of COFACE unde. or ln
Aoent 8hall:
(a)
not ng in thb &roemer[ shafl
to ad) rn a.manne, r,ir i" tn"omlstont with any
@nnection with th6 dOFACE lnlurance polby B
and th€
b€ autho.ised to take all sudt actions as it may doom
necass€ry b onsuE that all
r€qutrements of CoFAcE under or in connectJon
po cy B
wlth tho coFACE
arl comdisd with;:a1d
t;;nco
2oo2rroalj
18
(b)
not bo obliged to do 8ny'lhlng if in its oplnlon, to do so oould r6sult in a b'oaoh of any
roqui.Ements of COFACE under or ln @nn€dion with th€ COFACE lnsurance Policy B
or afiod dle validlty ot lhe coFAcE lnsuranco Pollcy 8.
If COFACE notilies tho A96r of its docislon on 6ny mattetiincluding any decision re{alirE to
the gpproval ol any r€qu6ted waive6 or am€ndmenb by tho Boro"'/er in respec't ot lhis
o. any othsr Flnanco Docoment), such decislon shall provail over any conttary
Agfoement
declslon made by sny Fsdllty Finance Pady.
Policy
B
lnsulance
Poliry
B 8rd the terms of fle FilEncing Doolmeds, the ierms of tle COFACE
of such
6hall pr€vall 9s b6twe€n the Facility Finaoco Padhs and COFACE, 8nd to the exlent
the
terms
ot
COFACE
a$ert
to
shall
not
or inconslstency, thg Facility Financo Parties
ln Ule casg d any confirt o, lnconiist€oc, batrten the terms of tho @FACE lnsuranc€
conflicl
lhe Flnance ooqtmenB.
B'
Eadr COFACE Lender B wll cc{perate wilh he Ao€nt and each otler COFACE Londer
l€asonably necessary'
and take sudl adion ard/or rstrain from takirE 8uci adion as may be
g
8nd
otr6c't' Th€ Borolv€r
ln
full
force
to ensure that the COFACE lnsuranco Policy contnues
in
shall provHe all ir ormation and olher asslstanc6 Easombly r€qusstod by lh6 Aggnt
connection with the COFACE lnsurance Policy B
fi2 ggEAcEelsd@
(a)
Tho Bo..ot!/s. acknorvledges ttEt no Facility Financs P.Ity i3 ln any way involvod
calculaton of any part of the COFACE PrEmium
(b)
Tho Eoro$Ier thsll not raise against any COFACE Lend€r B arry claim or defenc€
part
relaton to t|3 calculaum, payment o. retund of (or he lailurs to pay or tgfund) any
in the
in
of tl|e COFACE Pramlu .
(c)
Tho Bonovrer shall b€ar the cost of tBlmbuslrE to t|€ Alant (for tho sccount of 6ach
(d)
gsumatad to bo an amount
As at 0p date of fiE Afleomont tho COFACE Premfum is
pdlentagp ls set by
€qual to 6.65% of th6 Tobl Commitnenb. The COFACE Promium
the French Auhoritjss at th€ir sole dlsctoum 8nd Yiill b€ lndlc€Gd in lh€ COFACE
COFACE Lender B) lh€ orcdit insuranca pre'nium due to COFACE und€r tho COFACE
lnsurance Poliq B (lncludlng any incr€a3€ in the amount of the COFACE Premlum)'
lnsurance Polk, B,
(e)
Ttle Borrcw9r ackiowledges that thg obligatbn to roimbuEo the COFACE Promium
r€bted io thls Agrdment b absoluts and uncoiditional and poragreph (c) stlall apply
in 1e5@ ot all crcdil insuranca promtum due b COFACE und€t th€ COFACE
lnsuranca Polkry B.
(f)
The BonowEr acknowledges that the COFACE Pr€mium shall bo paid upftonl wlth the
first Lrlililadon belng mad€ undor tho COFACE Facility B follolvlng doliv€ry ol a Solle/s
pay to th€
Certificate. Tttc.Bfors, lh6 BonoiYe, krsrocably and uncondidonally agl€€s to
Ag€nt (for ft,itl€r p8ynont to COFACE) an amour equalto thg COFACE PrEmlum'
(0)
Th€ 8ofioner ad(nowledges that t|g COFACE Premium i6 nol .efuildablg for any
aeason wfEbo€v€r.
t9
(h)
Notwllhstanding the above, a minimum premlu.h, as oflh6 dats of lhis Agr6om6nl,
in
an amount equalto [wo thousard Euros (EUR 2,OOO) shafl bo paid to COFACE
by the
Eono!,\€r in respecl of tho COFACE tnsurance poticy B upon th€ execulion
of the
rolevant COFACE lnsurance poticy B. Such amounts 6hall r€maln the prop€rty
of
COFACE and b accodingly pa)€ble by the Bonoli€r to COFACE ln any e\€nt.
I'l
.3 Slrbtttoi0olr
Wilhout pr€judi' to any B)ht of indemnfication or subrogation COFACE may
have at law, sach
Party ag.ees that COFACE wifi bs subrogated to the d;hls of the
COFACE Lerd€B B under
thls Agreement upon the maktng of any payr8nt by or on bohaf
of COFACE undsr lhe
COFACE lnsulanc6 policy B and the COFACE Londe6 B 6hall ad tn accordance
Mth tho
ins&uctions of COFACE ln fle enforcemgnt of theh ,ighb unde. this
and
the
other
&r6omenl
Flnance Documents follo,ving such subrogEtion.
The Partt€s agr6o thal th€ right of subrogation shall arise irrsspoctivs
ol and p.evail ovor, any
inconsistency wlth any right of subrogation arising undg, the COFACE
insurance poticy B, or
under the laws of France, and notwlthstanding any conduct on the pad
COFACE Lsnders B.
o, @FACE or the
Any payrents mado by COFACE und6r the COFACE lBurance policy
B to, or for the account
of, 6ny COFACE Lendors B aro for thg benefit of that COFACE LendoiB
and hot for th6 bonofit
of the Bonow€r.
Tho Bonovrer acknowiedges, fo. fie bsnofrt of the COFACE LendeB B
and COFACE, that any
payrnents madg by COFACE to. or for the account
of, any COFACE Londor B und€r lhs
COFACE lnsuranco policy B will not satisfy, reduc6, roloase or prejudice
any oflhe Bonolr€r,s
obligations under the Finance OodJments in whole or ln p8rt, whlch obligatio;g
shall remah duo
and payable notwithstanding fxl rocetpt or appllcation of tho€o palmonb by
t|s COFACE
Lellders B.
Tho 8o[on/er ag[sog that it,trill.p.amp y upon rec6ipt ofrlodco therlof, rolmburss
COFACE for
any payrnent mads by COFACE under lhe COFACE lnsurance pollgl B, whother
by dhecl
psynent or offsot, in rsspoct ol and to the extont of, Ih€ BorowEt
s oblloEton! b ths COFACE
LendofE B under thi! A0leement.
Th3 obllg8tlons of th€ BoiDtver to rrimburss COFACE wlll bq due and pa]€uo
ol.pa}Illenl by COFACE upon first written dsmand.
in Ih€ ounsnqy
NEPRFSEMANO g
Thg Bofrorver mskgs the rcp.es€nta orc and ramn0€3 set out ln fll3
Fscility Flnanco Party forfii{ifr
Oause i2 to 6ach
12.1
To induce the COFACE Londe.s B and the Agent to 6nter into this Aoresment
the Bonower
of the
Com mon Terms Aoreement which forms an integral parl horoof as if they h6d b€sn
fully lGl out
ln thls Agreem6nt and madE as of the Effective Date.
hereby confirms sach of lho represontalions and wafianiies conlain€d In ctause lg
20oriao5r-5
20
12
a
Tha Purchaso Contract
(a)
The Purchase Contract comPlies with the la\0s and r€gulations of GeoEia and all
Aulhorisations have been obtain€d as required urdel the laws and regulations o'
Georgla to enable lhe Bono\ /er to porform its obligations ttEreunder'
(b)
As at th€ Effective Dale:
(i)
the copies of the exkacts of the Purchase Conlracl relating to the payment
terms deliver€dto lhe Agent pursuanl toClause 3(Conditions of Utilisation) aro
true and complete in all mat€dal respects;
(ii)
lho Purchase Conhact will com€ into force and eff€ct upon, inter alia, lhe
paymont of th€ Down Paymenl
(iii) th€{e is no oth€r agreemont in conn€ction with, or aranggmenls wtlch amend,
supplement or afi€ct lho PuI{fiase Conlracl;
(iv) th€te is no dbpute in connectlgn wlth ths Purchase Cont'ac{:
(v) b6t'rr€sn tt€ Signing Oato and fla Efi€c1iv6 tlate,lho Buf€r has not 6'ied'
mat€rial
amended or waived wihout ths conset{ of ttE Uaio'ity Lendets any
psrformance
of thls
provlslon ol the Purchaso Cont'Ec1 so as to onsulr that
walv€r'
Agreement is not impaired in any way by such vadation, amendment or
to the
Ielating
induding inte. alh lho paym.nt tetmr of the Purchas€ Contract
Doryn PaYn6nt
12.3
(a)
All the rcpr6sentations and warranti6 in thls Clause 12 aro made
by lhe Borower on
the Efi€clrve Oate.
(b)
given at a specific date' all the
(including
the repr€sentations and
rep.ssentatbns and wananties in this Clsus€ 12
oo thg
r€fered to in Clauso I 2.1 ) are deemed to bo mado by the Borowsr
Unless a rBpres€nblion and wananty ls epress€d to b€
wanantkls
dafe ot each l,rUlb€lion DaLu and on th€ first dry of
"'fi
lnt{€gt Patlod'
13. ! FOR Anotl ui{DERTAXI {GS
for so long as any
Tho undortakinga ln thl8 qause 13 remein in forca flgm lhe E Hivs Datq
partbs ls outstandlng unde. the Finao@ Doqrmenls or afly
due to ti|e Faoility Finance
amount
Total Commltngnb ar6-in to.ce.
13.1 to@4!e!!J!!tsd!4!9!E
Tho Bor.ow€. shall supply to tho Agont:
(a)
m0uao51-3
prompl,y upoo becoming a$aro of thoo, th€ details oI any
administsaur,e PoceedingF relstlrE to lh€ PuNfEse Conlra't
jiqPtion, arbitralion or
(b)
a amendments to the purchess Contract retating to, orwhich may haye an impacl on,
tho pay,rnent lerms; and
The Bonorr,/or shall notiry ths Agsnt of eny mat€dal breach, or il lt has roasonabte grounds
for
berref that thero wflr b6 eny mare.iar breach ot t'ls or rhe sefle/s obrioaflons
unde. tho purchase
Contract.
,32 Nolificatlon of defeutr
(a) The Borrox/er shafl noti!ry the Agent of any gTA Defaull or any Facllity Dofautt (and lhe
sleps, if any, belng taken to romgdy [) promp{y upon b€coming awaro
(b)
(c)
of its ocqrenc,e.
Prompuy upon a request by tho Agont, Ihe BorowEr shall supply
to the Agent a
cerlificale sign€d by an authorlsed ofilc€. of the Mlnlstry of Finan;
of Georgia Gat no
CTA Dofaull ard no Facility D€fault ts contnulng (or if a CTA Defauli
or a Facitity Defautt
is continuing, specirying the CTA Hault or a Facility Default and
the sleps, if any, being
iaken to rem€dy it).
The Bonou,rr shall no0ry Iho Agsnt of ths ocqlnencs oI any €!/ont x/iich may
lead to
an obllgaflon o{ the Bono{€r to prepay th€ Loans puEuant to chugg 6 (Mandatory
p.epsyment
- Sanctions) of he Common T€rms Agreemont or Clau3s 6 (Mandatory
Pr6payrn6nt) oI the AgBemsnt
14. GEI{EML UI{DERTArc GS
The undertaklngs ln this Oause 14 remain in force liom t|e Efuirrg
Dato for 9o tong as any
amolnt due to lho Fadlily Flnance partios is outrtandlng und€.1h6 Flnanco
D(rcuments or any
Total Commitment b ln forcs.
14,1 Common Tadii Adr..fiqrt
B:rorr€r
ard agrees that until all obllgBlorE undor t tb Aord€ment are paid
in
Jl:
1l/€nanb
fufi unless ohqwis€
ralwd ln wiring by ho COFACE Lenaers e, it rhal
tho undertakjn$ s€t fo.$ ln clauso 1s of the Coolmon ferms
inlegral part of thls &rsqment.
;;;
and p€rform
e€[ecfl;;bh toms an
,{2 Purdra3o Conh.ct
iiie Borro',rrr ahall procuro that the Bu)E shall:
(i)
(i0
not asstgn or fensfor any od its righb or oblhqtlon8 under
th€ purclla
obs€rrc and porfonn all of its obtEationa .nd olherwise comdy wih
of th6 pullhur Cont"act
. Contract;
€ll tie provisjons
(iiD maintsh €nd sx6.d&g aM enforc€ a[ dt rhg dght! and remgdh! a/a[abro to it under
the Purchas€ Conhact in a timely mannor End 60 lhat the Bono\^/or b abt6 to
compty
with lts obllge ona under thts Agre6meni
(iv) mako a,l payrnent8 required to be made by lt undor 0lo purrhax C,onb.ct at th€ timos
(or wlthh enii"apirixble grace portod) aiC in the mEnne tqlrkld
zfflir"r
thgreundel
(")
not vary, amend or waive withoul the consent of the MaJbrity Lenders any material
provision of lhe Purchase Contract so as to €nsuro thal porformance of this Agresment
Is not impaired in any $€y by sucfi variation, amendmont or waiver, lncluding inter alia
lhe payment terms ot the Purchase Contract as set forth In Schedul€ 2 Oerms of
payment and list of dod.lments lo by supplied to the Agent).
14.3 Authortatlons
The Boron€-r shall P.omptly obtain, comply with and do all that ls necessary lo malntain in full
forc€ and efiect any Authodsaton requir€d under any law or regulation of G€orgia to:
(a) emble it to perform its obligations under the RJrchase Corlracl;
(b) ensure the legality, validity, enforceablllty or admissibility in €vldonce of the Purchase
Contract.
15. FACILITY EVENTS OF DEFAULT
Each of the evenb or orcumstancos set out in thls Clause I 5 ls a Facility Ev€nt of Dofault (save
for Clauss 15.6 (Acc€lerauon)).
l5,l coi'iimbn'Toiitt&aiirsamaint
Each of the CTA Events of Default 3et forth ln clauso 16 of lhe Common Terms Agr€ement
which foms an lntegral part of this Agrs€ment is a Facllity Ev6nt ol Dofault under lhls
Agreement.
15.2
padially withdrawn'
Tho COFACE lnsurance Policy B or th8 RJsk Mltigant lnstrument B is fully or
suspended, t8rminated or cancelled oa otheMise ceases to bo in tullforce and effect or binding
on and onforcoabl€ against COFACE or the Rlsk Mitigant Provkler (as
'olovant)
r5.3 e.c!9!Er9-Ca!EgB
Th€ Purchas€ Contracl is modified in vlolatlon of lhe terms of this Agreoment'
The Purchase Conhacl is interrupt€d or suspended or is canc€llod or is €ady terminated''
Th€ Purchaso Confact is under snyludlclal or arbitration proc€eding which has or is likely !o
havo a Mat€rial Advers€ Eff€cl.
15,4
(a)
ll is or becomes unlawful for the Borower to perform any of its obligations under the
Pur.hase Conrad.
(b)
Any obligatjon or obligations of lhg Buyer under the Purchase Conlmcl are not or cease
to b! Icgal, vslid, binding or cnfo.oeabl6-
23
1
5.5 wlthdraml and rroudhudn
Any act necessa.y undor lho laws ot Georgia to enabl€ tho Buyer to perform its obligaltons
under the Purchasg Conhact or any lransaction cont€mplatod thereby ls withdrawn or modmed
or shall otheBise coaso to bs Ih full {oace and ef,ect or not bsen obtained, or th6 Buysr
repudiates lhe Purchase Contract or .viden@s an lntsntion to r€pudlste the purchase Contract.
15.0 lr*eirBat mElha ut .rtrmanentr
The interegt mske-up a[ang€ment entered lnto belwG€n tho mFACE Lerders B snd
French Autprith. rn ordEr to rnake the coFAcE Facir y g a'/afiabls t0 tho Bo.rou/sr
lh6
at the fixed
rats as set forfr ln Chuso 7.7 (Costs lnoJrred by and hdemnity to ths COFACE Lenders
and/or the Frerch Authorilies) ls cancelted. suspended or c€as6 to be ln force
I
an etrect.
15.7 Copmorclal Fddlttv B
Any event defined as a 'Facllily Event of Detault' uM6r tho Coomerclal Facility
Agreement B
has occuned and ls contnuing.
rs.E As!e@
On and at any time aier ho ocqJnon@ of a Fadlity Ev6nt ot Hault tt hich is
cootinuing th€
Agent may, and shall if so directed by the Maionty LendeE and/o, COFACE,
by nolioe to the
Bonot€t:
(a)
cancel lho Total CommibnentE at whk$ time they shall immediatdy be cancellod;
(b)
declare that all or part of tho U lisations, log6ths. with acqued trier€st, and all
othor
amounls a@rued or outslanding dus to he Facility Ftnance padios under
ihe Flnance
Documents be inmediat€ly duo and payat{e, al which dme they sha,l
become
immedht6ly du6 and pafabte; gr
(c)
16.
exerciso any o. all of its rights, r€medi$, po|rers or dlscrdions under
the Finance
Doqm€nts.
EFFECTTVE OATE
The Parti€s agree lhal th€ rights and obllgations of lhe parti€s under
into force and ofied on lho Efrective Date as
th6 A0re6mont shall come
provisions
of claure 30 (Efrectr.ve Date) of
Frer the
the Common Terms Agreemsnts whlch forms an lr €gral part of thls A0lrgmert.
17,
GOVERNITIG LAW
This Agr€emont b govornod by Frendt law.
18.
JURISDICTION. ARSITRATO
Any disputo relating to tho vatidily, construction or porfomanco und€f thls Agrgoment
shal bo
s€ttled in accordance wlth the provisions ofdause 2g of the Common Tlms Agreement which
forms sn egral part of thts Agreement.
i
2002lrll,5l_5
24
19.
COMPLETE AGREEMENT
TH lS AGREEMENT has been ontered into on tha daie sbted at tho beginning ot tttls &reenent
and made in 4 originals.
2@2ilo5t-t
I
I
SIGNATORIES
THE BORROWER
GEORGIA
Blr Nodar Khaduri
Minister of Finance of G€orola,
(w
SOCIETE GENEMLE
B)4 E.ic Allah des Boawals
Export Finance Dofunce, Se@rlty & Satellites
8y: Eric Allain deE
Export FlMnce D€fer|ce, Seolrity & SstBllites
26
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ADaoFCbUq,or%r6,oA-9.)CoU6olr)bq,o,
(b) tol.
&
re6oaq3q'o AJaJo(BCgrr h6('r'SoJ\)o Jd,olr oCdOSrA..
arAgoAgCq,olJ aoC6
/ /
36
qJansec;),cERfitlE0 gv
Minls!rv or ror.lcn Allt
iRANsLAlloi+6
დანართი
q$e\4-b4: &A$a(BCqob r8q)rAr&,'d<(TerLi erlq\,Ce.JgAJ8.r.rSo,f€j
5Ar6Ob: Soci6d Gdndrale, 6oao,6,0 r6J6Oo
arfoo(acqjolrJaJ6: MBD-{ Frare
.r^6()(?.,: I.l
COFACE b{6C{noo ACorEbaCbr (,ro,r6oqC8Uq\,) 20ls UEDb 8 ACJC€86oo)
@
1.
AooooCA) AiJroCAU(,or 2015 trq,otr l0 o3grrb, l.,rCr6o]3rqot o{ArCSol, L$.,6oLO6oU
aoC6 arBa}d€Cafqr' 6rltgoqn0ol, bCq0Xfrtq,CAJ 6qog,'aoL bCq,oAf,:3q,Cbr B,
8CaLS"a3Cq") MBDB Franco-or6, r6ataqrtu qJ6o(rJgq,o Aobrtuld,oJ lrrts6r6A0oo, 1 B
venue R6B umur, 92350 Le Plessis-Robinson e.) 6CSolJo6oSrfueor 6r6oC6olr
JoaC6G.,Cq,., ar$ClrCaUq'Cbr8ol, ad Jaarr6oCbol, 6CCtiO66o 6cla6oo, 378 168 470 RCS NB
nlBrre a)btCe, 6oA (6rago(8rqr B) AoJA$r8CAb SCaLU"qJCel, tu$y'lboq-0o- e,r
Atlro,JE aiJrSao6CbUqD Acflrrbr6C0C&,o, (6rllg(Nr6ob bCq'A&fugC8.} B)-1, $r,a('C0ao.
aot/).Drbl AJJro,CoUq{J 0Co,$bACb!$C.
AC, *CAmoi bCq,oLAoASS6o
[.], A(nCfoao, d{qAor60 [.], gJrt flBE CAdA('lLoq,o rq6oaEJq,o
ao$6C6oi, A55bo6,0oSET6rt6 Ar J&C arAsl$C60b, dma gSJq'J &16(,)0) aocCaJq,o
eCoiqfl5o oS8oinAr8or Ar bSq,Ao$C6ol, 6oAU0o r6ob A0ggJ6o ar (,r68Cbr rLCaC,
gBq,CAJ&rLx)q'o Ord) ArAgoQBr(,ol, lrrbrqbo, $Cq,r (mJra0soo er L86,o)(EoJ\Jo &Boa{a
A,) 8$JbJ6o 6rqo(n6ol, bCqf8f,Jq,CbolJ EdrrbraoLra:
l--1"-
bJq,anl$r6ou boAJao
tltt
t.l, anC6Cao, &%('lt6o [.], Aitr, C8eCbrAair(r, rq6o06Uq,o
aot606oL AJsba'60oCe$r$C A! r&C SraJrOUEca, tua $Jq,r &c&',o, &%oa:lso
cIobqlj6o o68(,)60rooJ (,' boq'Acttrtd,orj 6oA.JAo J{6oU fi)gorf,o er errRCSr rbru.
0C, &troo, brqx,b&rA$C6o
(a)
3,tSC6 b8q,L $Cq'r ealJ1]aC60U ArAUo(BCE oU lDbCqoo, 0o6JAar0r6C AJor,)6bACbob
AdrJaraolaa, fx.l0(r6o Cl,
.'aJSC (mJrAC60Ao (Ar(,) Act(l'ob
b,4(xgJJ(,dr l.,r6ox'EoJroo); (!)
(b)
6r0olaoC6o l,$otu $ ert3l]&Cqx, flCe$ol, ASc'60oC(,cOr, ACb6Cq'Car.
bCq,6('l0C6r rE reU&Jq,Car re6o3fu q'o 3Co)r6bACaoL ACbbrAobrA.
37
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0rJ/,0en/0ArE lo.t),.?tjt{
q,)ang 3c3 Jrc[P] tirED BY
oCAC6 sCAodq,oro (,3)6JU(no, 600 6C8oLaoC6 ab&Ob Jo6b U6tuCqeCs)
C8q)80r&alr.,qC8r, l,r6ra oSJb $C(rl.q.lb(,, )f, &x,e0bo,3rOUo6.6C6Jr Aqo(BCq,oUJAr6,
6('la aJb, rb aro, ACADgaro Cgq)CarAclLoq,Car.
3rO%obGC&,o,
&foo(acq,ob aoC6,:
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38
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L.i6n.I.J"lF her ,.!eoa.o
ffr
or!,(ae6oL aou'nm
l{$l
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I
I
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a.4,
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დანართი
sctlEDuLE l. cot{DlTloNs PRECEDENT
CO DTflONS PRECEDETIT TO IN]TIAL UTT-ISATION
1.
Cortificat . of lncumhncy 8nd .uthority
The Ageni shall h€vo recaiv€d an odginal of the corliliEte o{ inq,mbenc, and aulhority of en
aulhodzed Bpresontative of the gu!€r substantlally ln the form of Sch€dule 5'
Th6 &ont ghall have received sn origi.lal of thg cetlillcate of lnqrmb€nc, and autho'ity of
gqrorlBr substanlhlly ln tho fotrn of Sdledul6 6'
authodzed reprssontativo of $6
an
ot an
The &Ent shall haw recolvsd 8n original of th€ c€rtificats of lnqlmboncy and
'uthority
ln
any
olh6r
4
or
of
Schedute
in
ltl€
form
authodzed rcpr€sonlaliw of the S€lle, substantially
form agreed botween the &€r and tho Seller'
2.
Ratilicdion
Parliament
Ths Agent shall have received a copy certirl€d as a true copy of lhe R€solution ot the
Agr€ement'
of Geo.gia on ratification of thg Common Te.ms Ageement ard esci Faclllty
3.
L.gal opinion
and substance
The Agent shall have recaivod the following doqlments ln fom, scop€
COFACE
to
the
Origlnal
addressed
satsladory to lhe Odginal COFACE Lenders B, and
Lenders B:
(l)
of Goorgia (i)
a signed lsgal opinion by a duly ropresenlrative of tho Minlstry ofJustice
Facility Agreemont
on lhe duo ratmcation of the Common Tenns Agreem€nt and 6ach
srforceability of tho Finance
by the Pariiam ent of G6orgia, (ii) on tho legality, validity and
Documonts from a Georgian law p€rspoclive and (iii) on th€ capacity and aulhodsalions
of the Minisw of Financ€ of Georgia to enter into the Finance Oocumenb;
(ii)
aucePrdore to the Lenders,
nrm acceplable
ueorgEn law llrm
oxlernal Georgian
legal opinion
opinion by an oxlernal
a signed Iegal
Term6
Georgian law c0unsel to the Lenders, on the due mtificatjon of the common
Agreement and each Faciliv Agreemenl by lh€ Padhmont of Georgia and confirming
lhat allaulhorisations to onter into the Financ€ Documents have been dulyobtained'
4.
Purchas€ Cont6ct
The Ag6nt has rec.ived:
(i)
a ce.tificato of a duly authorlzed representative of th€ Sellor c€rtifying that:
-
lhe Down Paymont has been pald puEuant to the Purc,|as€ Cont'ad.
6fu
and
the Purchase Conlra.l b which it ls a party has @me into to.co and
any
Judiclal or
h not suspond€d, intgnupted, cancelled or tgtminatod or under
arbilralion proco€dlngE,
27
lh€ business intenuplrbn insuranco raquested by COFACE as a condition
precodent lo the Bfiectiveness of the COFACE lnsurance policy
B has b€on
l68ued by COFACE,
(ti)
a lette. slgned by a duly authorized rspresentatjve of lhs 56116r confirmlng
lhat (a) it has
oblainod the export license authodsing the Selle. to export th€ equipm€nt pursuant
to
the Purchase Controct and (b) tt has obtained a slgned ond user certmcats
from tho
Buyer;
(iil)
a cedificate of
I duly authorized ropresentativo of ths Bo.rower c€rtivng that the
Purchas6 Conhact has been vatidly signed by th6 Bu)€r, has comg into forc6;nd
and ls not suspendod, lntenupted, cancelled o, le.minaled or under any
arbihation proceedings.
efect
ludlcial or
Fees, costs 6nd axpensca
Evid6nce satisfaclory to the Agent that a[ feos, costs and expenses
Partlos hav€ besn paid or will b€ pald to the Agont by lh€ Bor.or€r.
dug lo the Facility Fimnc€
20021/o5t_5
28
დანართი
SCHEDULE 2. TERMS OF PAYMENT AI{D LIST OF DOCUMENTS TO BE SUPPLIED TO THE
AGENT
All the capltalized terms nol d€fined in this Schedulo and not othervrise definod in the Aoreem€nt shall
have the meanlng given lo such t€ms in the Purohasa Contract.
The ierm 'carlifi€d copf, vrt€n usgd in lhis Schedule shall mean a copy of document certified by an
authorized reprGontative of tho Sellsr as a trug ard comdete copy of lho original document-
Upon recelpt by lh€ Agent tIom ths Seller of the docum6nts as mentoned b€low, Iho Loans undsr the
coFAcE Faclllty B will only be made availablo by the coFAcE Lenders B on the relevanl utilisation
paymont of lhe following items
Date subjecl to the terms of lhe Agreement and as descib€d below for
tho Tolal Conlracl Price):
85o/o
of
up to the following maximum amounts (not to exc€ed in aggr€gate
1.
payment of the
In regpect of the amount set forth in lhs Sells/s Certficate conGpgnding to the
Prog.6ss Payment conesPoMing to 30% of ttl€ Total Contsac{ Pice (belng EUR 7,496,325)
in lh€
duo lo the Seller wlthln nlne (9) months from lh€ EfodivB Dale (aB such te,m is dEfinod
Purchas€ Conhacl), such amount shall be payabls to the Sdl6r upon toc€ipt by the Agenl
th6 Seller ol the followirE do@ments:
2.
'rom
a certifk d copy ofotigina, of idoice,
a cortifi€xJ copy of gub'assemuies proarrromot siafus roview'
ln regped of the amount 9€t forth in lho Solle/s CortifEals oongsponding to th€
paymgnl of the
Prognss Payment corsspondirE to 30% ot tho Tobl ConM Prlce (boing EUR 7,496,325)
due to th6 Seller within eiOhtoen ('18) months f.om tle Efiecliw Date (as srlch term b defined
h lt|€ Purdlas€ Conlraci). sudl amouri shall b€ pefaHo to lhe Soller upon recelpt by tho Agent
,rcm ths Sell€r of the followlng doqrmentg:
.
-
a cerlifiod copy of o,lglnal ot invoice,
I ceriified copyof stl!.ss€mblies procuErnent sbtls tBview.
of
ln r6p€cl of th€ amount 8et forth ln the Selle/s Cedilire.cofl?3ponding to 20% of $s
each accepted Equipment dug to ttl6 Soller, such amount shall bo pa!€blo to the Sgllgr upon
rocolpt by U|€ Agent from th€ S€ller of lhe following documenb:
pdco
4.
a cartifi€d copy of origind of invdc€,
I oortifed copy of Cqtificats of Contormlty.
ln r$p€ci of the amount get forth ln the Sello/s C6rtilicale con€aponding to 5% of th€ prico of
each sccepted Equipment duo to th€ Sdler, such amount shall b€ p€yabl€ to th€ S€ller upon
rscoipt !y ths Agent from ths Sell6r of tho lollowlrE documenb:
-
a carlirftrd copy ofo.lglnel o, invoice,
a cortilled copy of Csdificate o, iinal inspec,tion!
2oo2't.451 5
29
5.
ln rosped of ltle amount ssl forth in th6 56110r,5 Codmcato co,rospording
to 25% of the price of
each ac*pted Technical publication or completed Sewice
due b the Seiler,
bo pa!€bl€ lo the SreI€r upon receip{ by tho
"Ufl
&e.{ trom tho Se er of th€
O"",ii"O,
"r* "irr"f
,ot*"S
.
-
200r/051_5
a c€rlitlod copy of orlglnalof lnvolco,
a c€.lfiod copy of C€Itficat ofcompleUon.
დანართი
SCHEDULE 3. SELLER'S CERTIFICATE
To:
FHEAGENrI
Frcm: [SFl I FRI
Dab: t l
tho Inbity of D'forct of Ctargla 'nd
RCeumur, 0i!:t50 I.g Plo{l''RobiBon'
I
lvanu.
b
d
ITBDA Franc., uio!. ttglrt tld ofilc.
PURCHASE CO TRACT dat d l0 July2015 bdw.tr
Frsnc. (tho Purchso Contract)
COFACE F.clllty Aoiromenl B dated E Oocombor 20t5
l.
is a SolleiE Cedmcate'
giv€n
terms u56d in thls S€lle/s Certjficab but not detin€d hav€ the meaning
Refe.encg is mado to tlg Purcha6€ Conlract and ths Ag'Esmont Thh
Capitalis€d
2.
(tho Agrremeni)
to
i
tho invoic€s
Wo hor€by rsquest ths payment of an amour{ €qualto EUR [o], colrGponding to
whlch should be Gr€dited to:
[a], to b€ paid by Utllisation und€r lhe @FACE Fac itv B and
(.) Bank Nsmo: [a];
(b) Account tlame;[oJ;
(q) Accoirnt Numbor [o];
(d) SwIFT/So.l Code: [.];
(6) Ret: lol,
t.
3-
Wo coiflnn that $r€ have rEooivsd In tull lhe Oown Payme
,t.
w6 cmfi,m that nE h€re dolhloBd equipmenl Snd r3ndqsd s€wices ds!ry to [l€
attadled to this SollCa Cerliflcato in complhnca lvlth lhe Purchass Cont'act and hat
equlpmer and ssrvi!63 are ollgiblo for
COFACE
.
invoioe(s)
such
!
I
i
I
5-
pa'agraph 2
We Mrra.[ that Ure amoont to bo financed und€t llte A€rBmcrrl rctered to ln
aborc:
(a) doe6 not indudg any amount in respecl of Dolvn P€yrnant; and
(b) has nol b€sn th€ subied of a p.evio6 Sdlo/e c€.tificato
6.
Finally, we cor{irm that tho Putchase conbact b in tullfo.po and ofiec-t and ha3 mt be6n
Susp€nded, lntsrupted, cancsllod, torminated, or ar far as payment terms ato clncam€d, has
rpt b€€n tnatsrially amondsd o( matenaly modlflod, wtElher in whol6 or ln pan and ls not urdor
8ny Judicid or srblbstixl ptoc€odings.
2oo2raot1_5
31
7.
The following documenls are attached:
(a)
The certified copy of the invoice,
(b) t.t.
8.
This Selle/s Certificale is Inevoc€ble
Youas truly,
B)i:
[sEr.J-ERl
20t 21rO5t_5
32
დანართი
SCHEDULE 4. FORM OF CERTIFICATE OF AUTHORITY AND II{CUMBENCY OF THE SELLER
To:
Soc6t6 G6n6ral6, as A€€nt
From:
MBDA France
Date:
I.1
COFACE Faclllty Agttsmont drt€d 6 lrscolnbor 20lC (tho Agr.€moot)
Qptlfllcolo ol ln(rmbncv eld Autho.ltv
'1.
Referenc€ ls made to the purchase coniract daled l0 July 2015 eniercd lnto betn'Eon lhe
at 1
Ministry of D€fence of Georgia (the Buyor) and MBDA Franc6, whoss reglsteted oflice 19
avenue R6aumur, @350 Lo Pt6sis-Rouoson, France (the S.llor) for th€ supdy of equipmor
and assoclated servlcss (the Pulchass Coniract).
2.
Rsferencs b made b the AgrBmont
3.
her€of,
l, lh€ undersigned [a], ac'ting in capacity as [a], duly authorized fo' the
gpecimen s(nailr€s ol $e p€rsons wtlo atg, and
c€riify that hors bslow arB the details and tue
purpos6
heroby
wlll continug io bo, suthorizod to sign on bshalf of lho S€ller all documents and corlificatos
be delivered pursuad to tie Purdlase Con 'act
1.
l, fis und€rsign€d [.], acting ln capacity 8s [a], duly suthorized
to
for tho purpos€s h€r8of, horoby
c6drythat herc belotYare the dstails and tru6 sp€cim signalures oftho
will contnus to b€, autiodzed:
p€con8wtlo are, and
(a) io sign on behaf ot tho S€ller all dodmenb to be delivered puGuant to fio Agro€ment
refened to theroin (induding inter alia ths Soll€/s Certificate); and
(b) io take any adlon rsqulred or p€rmitted io b. taken, done, signed or sxgcut€d undor
th€ Aorem€nt.
,l
5,
You may assume that any such person continues lo bs so authorized unlil you
aulhoaized Mitlen nolice fmm lh€ Soller thal they, or anyofth€m, alo no lonoer
recs[€
so authorized.
Yours Luly,
By,"
MBDA Frarrcr
2l,O2llO5l_!
34
დანართი
SCHEDULE 5. FORM OF CERTIFICATE OFAUTHOR]IYAND INCUMBENCYOF THE BUYER
To:
Soci6t6 G6n6ra,o, as A€pnt
From:
Th6 Ministy of D€fonce of Geo.gia
Date:
l.l
COFACE F.clllty Aer.om€nt drtld E lrocomb.r 2015 (tho Agrocm.nt)
into between th€
1.
ered offic€ is at 1
equiPm€nt
2.
Reference is mads to lho Agresmenl
3.
Nama
Title
1.
You may
be so authorizod until you recoive
authorized
of Ulem, are no lo.rg€r so authorized.
YouE truly,
of Defencs of Geo.gla, acting as 8u)€l
2o02t,otr-5
35
ril
.+..-*E:€rrEc
დანართი
SCHEDULE 6. FORM OF CERNFICATE OF AUTHORTTY AND INCUT,IBENCY OF THE
BORROWER
To:
SodAlA Gdn6Ele, as Agent
Froan:
G€orgia, acling through its Minbty of Fhncs
Date:
rq
COFACE Facil y AgirGtnert dat.d 8 O.crmbor 2Ot5 (the Agr..mcnt)
Cerliflcale ot Inorhb6rii, and Asu|,orltu
1.
Reierence is made to th6 Agr€emenl.
2.
l, the lndersigned [al, acdng ln capacity ae
[q, duly authorizod for ths purposes hereof, h€Eby
csrtify that h6rs below are lh€ details and tue spocim€n signatur€s of the p€rsons who
are, and
will conlinue to be, authorlzgd:
(a) to sign on behalf of the Boflov/ar all doqrmenb to be delivor€d puEuant lo the
Agre€meng and
(b) to taks any adion ,squired or pemlted to be bken, done, slgned or €reoled under
the AgrEement.
Tt s
llalho
Spocihon
3.
of Finance, as Bonower
262tao5i_!
36
დანართი
S,i6rrDo 5: AJaiJ3o(Boq-b rBq,CA.)aot ,q{e.t$ (l) 3rq\$"qTarSotJ gd?€r
rar60b: Soci6r€ Gdndrale, 6c)Sar6,O ,)AC66o
U'Ci6o8Cqrir o,)3aAgolJ blao6oUo6r)a)6
o)tf,o!-o: [a]
COFACE bJJ6C(DO(') a0(r,r6Mrbr ard,J6oeCbq,o 2015 Sq,ob 8 a0lrAA6oor
sla:@
l.
a@ooCar o$Co,C0Uq,o.) 2015 $eob 10 o3q,obL, l$C.)tio)3C(,alL orA(,.)oBoL Urao6olio6olr
aoC6 A€('!60C6:lq)o 6Jr9o(,oaol, bJqAaldUqCaJ (6JbgrxAoA* bCetsSli,Uq,Cor B,
SfAUg"AArq.) MBDB France (,)16,dx')fuy'b oJ6"a€(. 6obsA,:drns lsgt6r656oo, 1 B
venue R6B umur, 92350 Le Plessis-Robinson er 6C6drO6o6,CACq,oI 6;60C6nLr
JoaC60ouq,o ArStLCaCq'CbJb(lr Ar Joalr6oCSotJ 6rCuorrflo 6ala6oo) 378 168 470 BCS NB
ntene AJbbCe, dEa (6rago(BCq)o B) arDar6r6Cbb ArAJgoqJCqb a(')$ga)8oq,{rb..o) Ar
arLo)r6 AJJr3ao6Carqr AoA$t,36raPoo) (6Jaogsot bJ(,3el(aCe'Car B)-b tsJf,SeobAo.
2.
aoooorbr ArJCorJBU(,o,) 88o)rffiCattC.
aC, *jaa|o) b0(,obaoa$Cd,o
t.l, AaCaC(o, rrx')0o)60 [.], gv', Cgq)CsrArbo(,o reffiECq)o
ao'b600ol, bJ6b<,6Goc(,CbJ95C
er .v&C arA!UOI6r0, 6nlA $Cq,r *roc'o) aa0JAJq,o
arorq-Jfx, o6Bt'6€)Cor er bSq'AoSJSoir 6.)&JSo rfDl, SOUAof,o (,., er6SCAJ rbru,
Uaq,Caradroq,o 816 aJaUSo(Arq)oL LrbCq'oo U3CE J (QC)JUACSOo Ar hd,o)otsoJ)o)o
&Aoeoe) B,3.)bir6o 6rqoao,)aobb0q,3&tr,Cq',0ot ACbbrAoUrA:
o-)rEJaaJ8obr
bJbfq,o &16()
b0q€o$CrtoL EoaJBo
d,&C6 tsCAo<,oro, %rtugeoo, t6o6 6J8oL3oC5 AUbr3L Jo6ir CA6dreeC0r
jsq"rbrtulrryC$r, hs$
*&c6 $Ctu 1"-h ,6 arnqCao ACOgoS.r5Ca$tr
AraLso(BCq,ol-$bi\6, 61i'A orb, J0 0ro, qr"J$s\grt,, "Jgqgrilrlrri"JbJ.
JJoqoLoraoo,
LJr)rtogCq,oL or3erogob bra^,5olro6o &!FC(n, 6,(')A06,0 ACAbsoA3Cgo
39
uiiaotcaro,ifl ,n4,e'r1i rU t
.t[illla&-
or\6nqo0ATE JqljLLL{eJan6aca)/cERTirlt08Y
tlr.,rl.v o, For.ionAir
lFrtocr^iroNr
or l.rernalioAal Aor.om€nts ol G.orolB
დანართი
eJ6rd,@ 6. obCl,bJbqdr r$q,Caraouoq'caols eJ Srqrprfu<d0e.Lscxirr
J8cqrr: Soci6td Gdncrale, 6('lac,'60 rar6oo
t JCJrioacq,al, aclCafl<n bJCrtioacqot ao6Jglro)rtiraos{,L06(')b
aca$(,8oo
or6neo: I.I
COFACE l$Jf)Cg,O('l AJoJ6UCbr A,ro)r6oq'J0g(,o 20ls $q'rtu 8 q.oal0as6oo
s@
l. &,oroC0r bJJCo,CbUqDr ACo,.6MC0rtrC.
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