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EXECUT10N COPY (OPCradOnNumbcr40019) AMENOMEヽ T ACREEMENT NO.1 :othe LOAN ACREE〜 lENT siglled ol1 2・ .oFJunc 2009 (Rustavi Sond wastc Prdcct) GEORC:A : 」 EUROPEAヽ BANK FOR RECOヽ STRUCT10N AND DEVELOPMENT I)tltrd ′ 20:6 Ｌ 島 Ь ﹄ ﹄ ﹄ ﹄ ﹄ ﹄ ﹄ ﹄ Ｌ ﹄ ﹄ ﹄ ﹄ ﹄ ﹄ ﹄ ﹄ ﹄﹄ ﹄ ﹄ ﹄ ﹄ ﹄ ﹄ ﹄ ﹄ Ｌ ﹄ Aヽ lENDMENT ACREEMEヽ TN(). 1 TO TllE L()Aヽ ACREEMENT DATED 2 Julle 2009 'fhis enrendment agreemcnt, dated 2016,is aladc by and bctwccn: r (;l-OR(;lA (he "tlorro$er'): and (l) rhc ILROI'EAN BANK !'OII RECONSTIIUC'IIO:{ AtD DEVELOPMTNT, an rI inrcrnlrional organisalion iormcc br trcaly (lhc -Blnk"). PREAYBLE \\ lllil{l:,\S. l[. I]on1^\cr cLrlcr(J inlo r loan aSrccnlcllt daled I Junu 2009 {thc 'Origilllll 1gr(rnrcnt"r \ilh tllc Iiani.i \!Hhl{llAS, the S,;ll:gorcrrrirrg Citr oi Rustarr ( Rusia!'i ) and thc' Municipality of tjiuJrbani ("(iardabanij entcrco ioto a pro.jecl impiemcntdlion and suppofl agrecment d3!ed with the 9.lLm!:(109 (lhe "Proiect lmplcDenl.tion and Supporl Agrccment" or'PISA'') tJ.rni. \llllltl,lAS. lhc Rorrorrcr,jrrtctrJ rttto a subsidiary lt'an agreemen! duted 29 Scptember Itlr)(r ((h! subsidirry l-oao,\gre.mcnt") with Rusrari and Cardabani; and wllllRliAs. thc llorro*er and lhc Bank wish to ameDd lhe OriSinal Agrccnrent in rcnrrin rcsp.rts. on iltld subjcct to the Plo\ isions of this ABrernlenl' \O\\, ftll.lltllFOlt!1, in corrridcrulion ol'the aborc. thc panies herelo agrce as follows: .lRTICLE I - STANDARD TERMS AND CONDITTONS; DEFINITIONS Srction I.01. IncorPor.lion of Smttdard Termr ud Conditions .\ll ol ths pro\isions oi thc lJanl' s St8lldad l€nns and Conditions dated I octobcr :007 Lrrv hereby incorporarcd into and made spplicable to this Ag'ccmcnl rnd rti'.ct a5 ifthey were full) sct forth hcrein with thc samc force Sectionl,02, DelhltloDi or \!hcrercr used in lhis,\gr.cment (including the Preomble) unless ststed otherwist lhec()nlcxltltherwiscrequircs.thctcrmsdefinedinlhePreambiehavethercspeclive hare lhe n,"o,,,',*. uiro, lo thum ihcrcrn. Lh( (cm1s dcfined in the Original Agreemenl ;.,;.;i'.;".;;,rgt Brrctr tt, tlrutr, thctcitt. thc tcrm:j Jcline{l io t}tt Standard lcrms and Coditions havc the r.spe€tivc meanings given to them lherein and tbe following t rms have i,,..lb following meanings: ≦﹄﹄﹄﹄Ｌ﹄﹄﹄ 勁ココ﹁﹁﹁﹁恥﹁ ﹁コ . ' .lcodEcut Agrcrd.nt No.l lo th. PISA" meons tie afiendment ogtemc lo the Projeq tmplemcntation and Suppon Agre€mcEr to be cntered into bctwecn Rustavi, Cardabarli and thc Bank, which shall be in form EIld subsnncc satisfsctot, to lhe Bsnk. 'Asriguorcnr A8reemcnt" mciuu (he sisiSrunent sgreement to bc e crcd into batwecn the Minisrrl of Finance of Ceorgi4 thc Minislry of Rcgioosl DcvcloPmc and-ldrssgultu$ af Ceorgia, the Companl, Rustsvi and Cardabani in rrlation to ihc Subsidiary l-oan Agreemcnt' which shall be in form and subslaoce satisfactory to the Bank. ''Compnuy" mcans Solid Waste Managcmem Compdn)' ofGeorgia l'td' "Effeclive Datc" means lhe dale upon which this Agreemenl becomes eilective in nccolihncc \\ith Seclion 3 0I "Projert Implemeotation Agrcemcnt" mcans lhe projecl implemenlation agrccmenl lo be .ut"r",l iutu b1 (he Bank and lhe Company which shall be in tbrm snd substalce satisfactory to lhc Uank. Srctiont.03. lntcrpr€traioo lr tllis Agrcemclrr, a r.l':rEnec lo a sPccificd Arricle' Scation or Schcdule shgll' cxccpt uhcrc stated oihen rise in dris Agre.ment, be oonsrucled as a rctlrcnca lo thot spcoilicd Anlclc or Section ol', or Schedule lo, lhis ABrecoent- ARTICLE II - AMENDMENTS AND CONSENT Section 2.01, Am€ndm.ot lnd Contiouity (a) \Yith effecl on and from lhe Eficclive Datc' (he Original Agrcement shall bc amended by lhu unrcrldmcnis set our iIr Schedule i. (h) 'l hc provisions oi the O.iginal Agre.mcnl shall save as amcnded by this Agrecment' cortinuc in full lorce snd cffecl. ScctiUo 2.02. Conscut ln accordance wilh Section l.ol(c) of thc Original Agrccmcnt, the Bank hcreby Gadsbani undct lhe conscnts 1o lhe ussiBn ncni of th.' linancial obligstions of Rustsvi End Subsidiary Loan Agreemcnt to the Company pursuant to thr AssiSnment Agreemen!' ARTICLE NI . EFtrECTIVENESS ﹁ Seclion 3.01. EffecaiYe Dule shall Llxccpl as the Ba!* and lhc Ilonolver shall olhcrwise agrce. this Agrcsment Rus(B\i' bccome ellective on ihe date uPon 'rhich tlrc BanI dispalches to the Bonot\cr' Gardabaai and the Coorpant noticc of thc Bank's acccptance ol' th. evidcocc rcquircd by Secrirxrs l-02 ard 1 0l ColIdilions Ir(ccdcnt to Effcctiv0ncss ﹂ごＰ鋼コ島コ覇司コココ動コ⊃コ⊃助動ココ弱⊃勤⊃⊃ This Agrl.ement shall nor become cil'ectivc unless fte Bank is satisfied thal no event lcfcnEd ro in SecdoD ?.01(a) or 7.06 ofthe Stsndard Terms and Condirions has occuned &d is contiuuing and uaril evidence, in form and substaace satisfacrory ro the Bank, shall have b€n fumigbcd to the Bank lhat: (a) Ite ex€cution and dclivery of ihis Agrccmcnt on b€half of thc Boro\,/er have be€n duly 0uthorised o! rrtilied by all neccssary legislativc and Sovcmmcntal actions. b) l he execution and deliven of rhe Project lmplemcnlation ASrccment on behalf of the Company have bccn dulv authorised or ratilicd by all necessary goverrunental and corpo.ate ( aclions. (u) 'l he cxecurion and dclivcq' ol rhe Amendmenl A$ecmenl No.l lo the PISA on behalf oiRusl.r!i irnd Oardubani h0\s b((n Jul) authoriscd or ratillcd by {ll ncccss8ry govcnullonlal und adnrinistrative actions. {d) llrc cxcor.rtion ond dcli\eq of t}te Assiglmcnl Agecment on behsli of tho Borrowcr, l{usra\ i, Gardabani and the Company have been dul} authoriscd or ratificd by all necessary leg,slitlve, goveflrmeotal, corporste or administrativ€ action and all conditions pngdent to its ctlcclivcncss, except only rhc cfltctivencss ofthis Agreement, have been fulfilled. Scctim -3.0-i. Legll Optlions As porl of lhc evidence to bc lumishcd puisuenl rc Section 3.02, lhe Borrower shall cause ru be fumished to the Bank opinions (io foIm and substEnce satisfnctory to the Bank), ofa counsel acceptable to thc Bank. on bchallofthc Company. in respecl ofsuch matters lu may & rcaJonably rcqucstcd b) thc Bat* and showing lhat on behalfoflhe Company, each of (i) rhc I'roject lmplcmcnrarion Agrecmcnl and (ii.) the Assignment Agreement h4s bcen dull .ruthorised or ratitlcd hy, and cxecuted and delivcred on bchalf of. thc CofipBny ard consriiLr(es a \'0lid and legall) bindrng obligation of the Cornpany, cnforccablc in accordancc with its tcrnrs. Sectio[ 3.0.r. TcrmiDstior for Failu.c to Become EILcllve li lhis Agreemc shall not lrale become ellectivE by $c dste 120 dsys 8frer ftc dare of this Agreemenl, all obligutions of lhe Bank udcr this Agreemcnt shall tcrminatc unless ahe Ilcnk, .tliur consideralion of the reasons for thc &lay, shall estoblish I larcr dare for thc purposcs ol this Seclion, The Bank shall prcmDily notiry the Bono\rer of such latcr date. :ヽ 一 Titlc ■ ヽarnci ． = -)t 一 -.)) l)t ・ --8 EUR(,1'LAヽ BAヽ Kド ()R RI:(1)ヽ ヽI Rt(11()ヽ Aヽ 1)1)ド ヽ1:10PMFヽ 1 二 --)) I ・ 3 B! Namr: l lie: ′ = .-,) CEOit(,I.ヽ 一 3 through 6cir duly authoriscd in tirc copics and delivercd at Ｔ 一 奉一 コ一 事一一 一一 ﹂ 一﹁ 一 一 ﹂︲ ﹂ ﹈ 一 ヽ 一 ︺﹂ 一 ﹂ 一﹂ ヽ 一 ﹁ 一 ﹂ ﹈ ｔ ︲ ヽ ︲ ⁝ ⁝ ︐ __t) ￨ ￨ヽ 1ヽ ヽ ｀ヽ it t,i SCHEDULf, I AMENDMIINTS TO THE ORIGINAL AGR-EI,:MENT ﹄﹄﹄﹄﹄﹄﹄﹄﹄﹄﹄﹄Ь﹄﹄﹄﹄﹄﹄﹄Ｌ﹄ 職コュ 'fhr Original Agrcemcni shrll bc srrtndcd r! follo$s: i..r r lhe rhird \Vhere&s oflh! O.iEinsl Agreement is deleled in ils endrety and replaced with tlre li)llL,\!iD8 ''\\ tlEllEAS, lhe Proj(ct \\ril bc carricd oul br thc Self-governing Cit) ol lltrslu\i i l{ustuvi"), thc Municipalil\ ol Cardabatri ("Cardabani") ,rnd Solid Waste \llnagement Clompan) ol (lcorgia t,td (lhc "Compan)") (each of Rustavi' Gardabani -rr,.l tlrc Conrpal1 beirtg : Projcct Entit)'') \!ith linatr(ial djsistltncc from tlle B\)nowcr:' \hl :,crri.lnI0l(dX6)ol lll('i).i!rnalAgreemenl is dclcled in ils tnliret) irnd replaoed with thu lirllo\!ing: ''r()) prJparalion and subnlission ol repons on matters relatioS to the Pmject 8nd to the l'r,4..:t Lntitl"s operalioos 0s provided lor in Seclion 2 03 of the Projecl l1rLpIrl]rcntar(ion ASrcerlrclll.' ro Scclion l.0l(d)(7) ollhr Orir[al Agrcement js dclcted in it\ entirctv and rcplaccd with (hc tollo\\ing. -r7) maintcnancc oi p()ccdurcs. rccords and dccotrnts' prepaGlion. audiling and suhmission 1o thc llank !l financial slatemcnts alld luroishing lo the Bank any other rcl(!ant inti)rmatir)rr rrlillrrrg lo thc Projcct or lhc Proj€ct Enlit-v's upemtiuns as 1)rlrvidcd for in Scc!iolr i.0 i ol llle Proiect l[lplcmcnlation Agreemcnl; irnd'- (J) S(.tion -i 0l(J)(8) ol lhc Original Agrcemenl is delelcd in its entircty and replaced with tlre folLouing: ''(8) compliance uith all eovcnants rcgarding iinancial and opemtional aspccts ofthc l'rolcct and thc Project l,ntil) lts prcvideJ for in Sections 3 02 and I0i ol lhe I'rojcct lurp,enlcntrtiolt Agreemcnl:'' (c) s.crion.l.0l(c) of thc Original .\grcemenl is dclcted in ils cnlirety and replaced with lhc lillo\iDg: ''lr) Control of tlle Conlpal\ shall havc been lransGned 1o a Pany other than lhc ll o no \\'e r r"

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