„საქართველოს (მიმღები) და სკანდინავიურ გარემოს საფინანსო კორპორაციას (როგორც E5P დაფინანსებული პროექტის განმახორციელებელი სააგენტო „საქართველოში საჯარო შენობების ენეგროეფექტურობის გაუმჯობესება და განახლებადი და ალტერნატიული ენერგიის გამოყენება“) შორის საგრანტო შეთანხმება

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NEFCO 07117 E5P GRANT AGRXEMEI'T BETWEEN CEORGIA (AS II{E CRANTEE) AND NORI'IC ENVIN,ONMENT FINANCD COXPORATION (AS TIIE IMPLEMENTING AGENCY OF THE E5P FUNDED PROJECT: "Encrgr Efficiency lmprovcrncnts in Public Buildings .Dd Usr of R.a.w.bhs ard Att.'nltivc Encr5/ i! cco.gir") D^TED 4 JULY 2OIt !+ 'tF GRfNT AGREEMEI{T b.tw€c! rhe follor{llg prrriB (rtr. rprrd...)t O) (2) GEORGIA, r€presedted by rhe Mitistry of FiMnce (thc .,Gntt .'); .nd NORDIC ENVIRONMENT FINAIYCE CORPOn TION ("II[EFCO), as th€ Irnpl.menting ASency; 0ointly the 'P.rii.3" and sepat$.ly also &/tie '?.rt ,); WflERXAS: Th€ Asscmbly of ConEibutors to th. Erstem EuroIE Encrry Efticicncy lnd Environment prrtncrship Rogional Fund, cstablishcd by thc European Bank for Reconstruction rnd Dcvctopmcnt (,,EBRD") in th. cootlxt of thc Essrcm Europ. Encrry Efiiciency and Environment Ps.trc.ship (t[a.,ESp'), on 7 Dc@mb€r 2017 has approved a Brant !o support o project for thc implemcntation of,.Encrry Emciency Improvcmcnts in Public Buildints lnd tho Usc of Roncwablcs .nd Altcrnativo Encrry in Georgia", as descriH in more dctlil in Anncx I (dl€ '?roj.cf).nd hls assigncd NEFCO 8s the lmplementiDg Agency: NEFCO hes rgrEed to enter irto a loan 8greeDest wilb th€ crutter, as bodo*ei, providin8 rn finou of up to EUR 2,t30,000 (two million cight hundrcd driny thousud Euros) for rhc imptcmcat tio. of rhc ho.icct (drc "IdD At ..rE.!t"), provid.d rhrr fie Grani.c, in pardlcl, entqs i o this grint rgIlamcllt for the finDcinS of Projcac NOw' TIIERDFORE, the Panies hsve 6grr€d to enter inio this gllrn egr€ment 8nd thc Aficxcs listd bclow in Scction 12 (thr "Grut Agre.m.rf) as follows: SECTION 1. GRANT; PROJECT; OTEER FINANCING; TAXXS; SANCTIONS A_ND DEFINTIIONS l.l NEFCO undcrt tcs to makc svailablc to the crsntc€ a trant iD the smoullt of up to ELJR 1,t70,000 (one million cight hundrcd seveDty thousrnd Euros) (lhc cotrdilions set our in &is Cr,tI AgEmcnt. "Grlrt) oD the tcrms snd 1.2 lt is exprcssly scknowledged snd rgreed S8! NEFCO will not bc oblig€d to make 8ny disburscncnts or lny psymcnt undar an or pursu!tr1to thk Grant Agrrtmcnt, cxc?t io tbc .xt nt such smounh havc bccn med. eveilable to NEFCO by tho E5P lor ruch pulposc and dlar NEFCO is entitlcd lo dcduct ftom thc Grsnt smount possible negstive inErrst cogt! rs charg€d by an a.count bsnl. Likewise it is acknowlcdg.d lnd aE €ed tbst the crsnt mry not hsvc th€ purpos€ or effoct of producing profit for thc Crantcc. l.l The Gmnt sha.ll be uilised exclusiwly to fmarcc the prfiurlmcnt of sdvic€s, goods .nd/or wortr nccesssr, for thc implcmcntltion of the Project snd c.ch SuEproj.ct, rhrough the Gnntee rt making Grent availablc lo rhc MDF es the Project Implomentltion Unit, urdel dtc Agraanra[ on the Pioject Execution Autiority, for th€ bcneft of$c thc Final B€lcficiadcs (ss defin.d in A!!ox I hcnro). if 1.4 In addition to thc Crant, thc Grantcc undertlkcs lo sign md cxecutc thc l,orn Agrccmcnt and, the total cost ofthc Projccl exc€€ds the amount set forth in Sch.dulc l, to makr avrilrble oi{tl fund3 fot the impledentrtion of the Proiect to ensrre thal all funds that rc rcquircd for 6o timoly 1 I \F execurion of $e Projed (includinS sny funds thal may b€ made avoilable, promptly whcn nerdcd. required to me.t 8oy incrcssc in oost) .I! 1.5 No psn ofthc Gr&t shall be uscd. diraatty or indircctly, for fie ps)me ofa[y ux.s, including custons dutics or simit& othcr fe.s ,nd cheryes in t i " ".iril.y "fiirlii"'", "i*iii"I 1.6 Consislcnt wift emarional law, drc procacds-of thc Crrnt sh.ll not bc uscd for pa).Ercrrt to percoIls or .nrities or for sny impon of roods. payncnr if sucl or im[iii p_n-il-ira-iy a..irion N.tions security counciiralcn " u"i rr,J ciaprci vii il'iiar#"r,r," -ae. :19: -UT,"d Narlons, r€Eons o, enhhes. or suoDlie]r offeri[g goods and scrviccs, "i "a cavcrld by shsll $ercforc not be eligible for urJ award of such prohibitions con"uiJiir-;';ffi;;:#A"o;,. 1.7 words crpiteri.€d in this crsnt AgrEemenl but Dot defined hereio sbsr hlve 6e s$ne mcrshg ascribcd thcirto in the Loan ASrccmcnt whcn ulcd in rhis Cranr ngreemeni SECTION2. DISBURIiEMENT 2.1 The Grant will b€ disbursad to rhe Gjsntee in accordrncc wilh a disbursarnrnt plrn (to be . and.approved by NEFCo before rhc firsr dislursem*ii_j'rru.i*, ,r," rulltrmont ot alt ofthe conditions precadent sel our in this Grenl Agreement ss wall es the conditio$ prcccdrnt s.t out in thc Loan Agrrcmcnt !s applicablc and nlcvait for clct lTJ.,,1.jjlt:9.y"" ,Gfi lirUr"..*t r*" t. Notwithstrnding snldrinS in dk cllnr Agr.cmcnt to rt . oUiigft"I .i'lir:ico ,o a[y otsDur$m.nt under rhis crrnr AgE€mcnt shall "onr"ry, bc subj.ct to thc coodition O lhat rtc .also at8rcga& xDount raquested for disbursancnt and/or disbuEcd und; fiis Craat Agrrcmcnt rhdl not et any timc-exceed thc aggregue ,mouot djsbuEed undcr thc Loan Agccmcnq-*J tiU tfr"t rL cr"rt c, befor. rhe dhburserncnq hss us€d, for th. purposcs ofthc rctcvaiiiiuUj.j""-t O" ."ourinl pad oflhc pEviously disburs€d funds. yt',,* eff€cted upon NEFCO,S r€ceiB of an origin .l disbunernent ftquc* issu€d 3:1PrllIs:-T* Dy tl|e Lirartae on the bssis of $e Form of Disburs€ment .Irbbur*Ectr, (Amcx Requcst Rcqo.rt''), providcd lhst thc requcsl is sarisfsclory h substsnc! !o NEFCO supporhng documentrtion evidencing th.sl allrclevatlt conditions precEdent 2) (dlc i. r.o.p"",oa uy rrE"iri fulfilled. 2j YlP". l:ll:yb aSreed by thc pdrics in *ritin& the Disburs€inent Request sh.ll be rrFevocaDte arld btnding on tle Glanrcc, 2.4 Thc.Disbuls rnent Requesr shall bc signed on behalf of the Ctantee by a p€Isor or peisotrs, who hsvc bcln duly suthorizcd thcrcto in n document issued by thc Crantee on tfrjU".i. ofUrc fora of Ccrti6catc of Incumtrncy and Authority (Annex 3) ad to NEFCO. Eo;idcd 2.5 Disburs.'rnent R.qucsr shrll b. dcliv..rd to NEFCO.t lc..r l0 (t n) business days .The prior to tlle rcqucstcd dare of disbu.srmcot. 2.5 For th. prrrposes ofthiB Grs.t Agr€ement, a busine$ dry shdl mcsn s dry on *hich NEFCO .Dd commgrcisl banks 8rc open for gcncr.l busincss i,l H.lsinki, Finlard. 2.7 Subjcct ro Scctions 2.1 to 2.6 ebovc, each disbuscrncDt will bc mrde wdhblc bv NEFCO trrnsferring lha lllcvrrt amounl of funds to thc Grantcc,s rccount sct up rt O" fro"rrv i"arl"" ot lhc MiDisfy of Financr, iodicated in the Disbursement Rcquest on thc r€quesled disbui;ncnt date, providcd all_ofthc conditioos prcccdcot rrlcvant for the specific disbursemint have bcor fulfillcd, as detcdircd by NEFCO, including NEFCO bcing in rec.ipt of. lcttc, by tie Tr€.surv S€raic4 ofthe MinisEy of Finsncc confirmhg the opening of the acc.unr to which NEiCO is rtquesred o disburse. 2.8 For $r puposes ofhis Grurt furccmcnt, the disburscment dlte shdl me!! tlc drt! on which thc rolovrnt gmounr of fir'lds aE debired For[ NEFCO'S ec.ount (rie ..IthbEri.cctrt D.i.,,). -d ',\h 2.9 NEFCO will open rnd maintain in its books a scpa8te rEcord in tha Gr.lrtcc,s namc showing any sulns paid udc, this Grmt Aglrmcnt ("cr.!t R.c!rd'). Gdnt Rccord shsll corstitutc fin I concluiv€ alld binding cridencc wir.h lEgard to the crantec ofrhc strtus of tt Ctanr, *to*. st orDy llle (irant€t, !o lhe satisfaction oINEFCO, to conlsin a rnanifcst " clcricd crIor. 2.10 Thc Granfae will covcr costs, fees lnd expansee incu.rEd in thc teriory of Georgir in canncctior with disbuBcmcnts und6 this cr'nt Agrccmcnt. 2;l TtlctTitrS d* ol lhc Crsnr co-IIlspotrds !o tie rv8ihbitity pcdod of thc NEFCO toaq i.c. 24 1 (twenty iour) Eonfts aftcr signing oftbc Loan Agrcem.nt (thc .Cb.hl8 Drt ,)- T[e Closing Drtc Inry b. extc ed by NEFCO upon separarr rEques tom tb€ Gr.nne. 2.12 Any un-canccllcd smount of lhc crrnt for which NEFCO has not rcceived a disbrrsemcnt rcqu€.Jt !t thc Closiog D6t! m.y bc irrEvocably camrllcd by NEFCO undlr thir crlnr Agrcrmcnt. SECIION 3. CONDITIONS PRDCENDINT TO DISBURSEMf,NT 3.1 Disbursemcnts of tho Grant shall only take plsce subject !o lhe Grantee,s frrlfilmcnt, on a coltinuous t&sis 6nd in a mannar satisfsctory to NEFCO, of the followiog conditions prrc6dant, ss rclavant for each specific disburscmcnt: a) the Gra €r has providcd documentation srtisftctory to NEFCo cvidencilrg thlf this Grlnt Agr.eGnt (i) has becn duly iign.d by both prnics, (ii) is rsrifild tod is in full forcc .rd !ffect, md (iii) NEFCO hsi rBriycd rElcvsnt docummtltion to d|i! cfi.ct, including lll o.iginal count rp6n ofthc aigncd Grant Agrcanlc : b) NEFCO has sotisfi.d iBclfthrt thc MDF is acting a.s thc projcct Implcricntstion Unit for the Project (including for avoidrff. ofdoubl erch rnd ,ll SuLprojc.ts); c) thc Loar Agtement, in form and substance satisfsctory to NEFCO, hrs b.etr cotclld ioto by NEFCO as thc lcndcr nnd thc crantc. as the bormwfi fo.lhe impl.meotdio[ of$c projcc! and all r.nditions p.Eccdcnt to thc .ffGtivcncss of thc Agrc.rh.rt hlvc bc.n ftlfiil.d, and NEFCO h&s rEceivcd i6 originsl cxccutcd copy thrrEof; Llll d) thc Project Ageemetlt and the Agreem.nt on tic Projcct ExecUion Aufhority rnd thc Invrstment Financing Agr€cmen! in form and subEisnc€ srtishclory to NEFCO, hlvc b.rn cntlrad into and all conditions precedent to their rssp.ctiva efiactivcn6s have bcco fulfillcd and NEFCO has received an cx€cuted copy thereof: €) NEFCO has satisfied itselfthet th. Project is fully finrnccd; f) NEICO hls satisficd itsclf thst thc &qucsted disbursrmcnt cor.sponds to rho .pprovcd disbursement plm ,nd rcccived a Fogr€ss tlpon confrming lhrt dl relcvam milcsmac for thc spccific disbursemctrt hrv. b€cn met; c) thc Grsnree h.s conlirmcd in *ritiDg to NEFCO th!r: (i) thc n[,'r3ent8riof! atrd w.rrsDtics sct out below are fue and a.cunta in 8ll r.spccts st tha Disbursam.nt Date; (ii) all olhcr undenakings uudc by th€ Gr.ntcc uodcr Sis Gratrt Agrccmcnt havc bccn firlfillod; h) o$ the Cradee and/or the MDF 8nd/or the Final Beneficiaries as rclevant hrve obtain€d rll t€quisita liccnscs, pcndrs aod lpprovals snd/or oGobjcotions by appropriaE 6urhoahla!, .s may be nec€ssIry to implcn.nt tlr. PEjcct or a Su6projcct as rolcvant ond ro clrry out any \v othei altions necessary for thc purpose ofthe project, and such licenses, permits snd approvals are in full forc€ and €ffect; i) j) th€ Environment{t and Sustainability plan satisfacrory to NEFCO has bc€n prcpaEd; NEFCO has been provided with a sstisfactory legal opinion on lhis cr&t Agreernent issued by tie Ministry of Justice of Geo.gia alld on the Agrr€mcrt on the hoject Execution Authority issued by MDF; l) NEFCO has rec,€ived I list ofnam€r, titles atrd specimen sigoatur€s ofthe es suthorized to rcpresert $c Gradee in sny dn uer oonn€c&d wid| this crant Agftcocni substaarialty in rhe form sct out ih Annex 3; l) NEFCO has received such additional informatioo or document tion as NEFCO shall aeasonsbly fnd necessa4/ before execurion ofthe disbursement pr m) no event ofsuspe[sion has occu ed and is continuing; and n) NEFCO has received a Disbursement Request in accordanc€ with the requiaements set out in lhis Grrnt Agreement. 3,2 Unless othcrwise a6reed, all docum.nts to be dclivcred by the Gftltee to NEFCO mde, this Sectio0, whether in oritinal or ia an English translation (as .clevsnt), shall be procur€d at the cost of the Giantec and be sstisfactory to NEFCO. Any copies ofdocuments shall, ro thc extent possible, be aulhcnticaled by the relevant issuer and fumished wi$ rhe Crsnr€e's seal. SECTION 4. R.EPRESf,MATIONS A-IIID WARRINTIEE All of tLe reprrsentations and wslra,ltica of the Gr.nte€ in its cnpscity as the borower utde, the Loon Agr€cmetrt 8te repe{ted by the Crant€e as if s€t out h€r€in fi f\ll nurdis ndandh. T[rGrantee firlthet acknowledges that NEFCO is enteriDg inio this Grant Agrecmcnt in ftll ,alidnce oD the following rEprEsentations and waranties, which the crantee he.€by undcnakes: s) b) c) the Crsntee hes full authority to execut. snd deliver this Grant Agreeme and the AgreeDent on lhe Projeot Ex€cution Authority and to perform in obligslions th€rcundcr; the person(s) sigring this Crani Agreement on behalfoffte Grantee is (8r.) duly authorizld to enEr inlo this Grant Ag€ement snd €xecute other documens, which may be necrsssry for dr€ purpose ofthis Grant Agreanent; all stalEments ad financial rEpres€nlations msde by or on bchalfofthe Grsntae in comection with entering into lhis Grant Agreement arc tsuc nnd accurate in all m&tcrial respe.ts, as ofthe date where they were made or given; d) Georgiar stste authoriti.l and authorities of the muticipalities have gradod all necessary collsents, epprc,vals, licenscs and registrations aelated to tle projec! aad tlrere are no funhcr material legal rcquirements which bave to bc fulfillod to implomcnt rhc proj€ct; e) the Grantee is not in default under the Losn Agr€eme[t or this Grs[t Agn€rlt.nt, $,lEre suoh dcfault under any other ag.eement could have s Msterial Advers. Efrect (as defined bclow), no. hss sny legal action or rdmiristrative proce€ding b€€n irstitut€d or thrcat€ncd sgainst lh! Gr6nte€, which could have a Material Adverse Effect; I For tle purposes of this Graot Ageenen! "Ilrterirl Advenc f,Ilect', shall mean a matcrial odvcrsc chargo ia or effect on: (i) rho sb;lity of rhe CBnt . to pcrfoft o, compty with any of irs * \h obligstionr under this Crrnt Agrrc&cnr, (ii) the cr.ntc.,s_rtility to h.vc the hojcct imptcttrcn&d or opcraEd wilhin thc tcrms and in lhe mann in thc hojcct D'lcriptrorl tadm (iii) Grsnt€c's operations and,/o. fi"*"id lie -rd[lofot"tPlrted SECTIONs. PRO'ECTUNDERTAXINGS 5.1 The Granlce shsll be fullv resmnsihle towads NEFCO fo, fic inplG@cntltio! of lhc projccr Wirhoul rhc gencrality of whsr is said etsctr,tl.fr in ,h" i..ii-le;;i .tiniting thc crrDtre spccifically warrants, undcrtrkca and covenatrb ihut, a) ii shrll ensure that the proceads ofthe Grrnt shrll bc uscd solcly for tta peydeDt ofrE lonrble c.st of goo&, works rnd scrvicca rcquircd for drc i.pf*r.rrt ti* fii".q "ft b) it shau t!kc, or anusc to ba tikcn ,.ll rctio8 wfiich llr n6.ssary !o iDplcEctrt tho projad wifh *Gu ts iD t"9lC:*. yo eflicicncy snd in actordrncc *trh ;i; cffi ;;;;t-L codo'rrry wlrh lppropd!& adminisu'ad-vc, fnucid, mginccai!& ;id lDi €Dviro,D.ntsr pncticcs, in order to .nsutr tlar rhe project iiG *"-*"arrf orlnoa i, t" Fe.sibility Srudy; "omply c) it shdl comply with arr appricsble laws, statutcs and eguleliorE as well agrEcorcnls to which it is a p&ty, including in pankular 0&-t osn AgrcrD;t ss with rrrevsnt o, LTlll:-9q.,T:yq T tu d 8ny taxes (includin& withou litDibtio4 vAT) strd dmies (mctudor& witttout timibtion cusrohs duties) on all Goodr aDd Wo*s ard s.rviccs procurld ftom proceeds ofthis Grant Agreement; €) it has tater! or shrll pronptly take aclion within its power5 o sppnoya .trd Fovidq or ke to b. rpproved snd provid.d, all ri8hts, licarscs, fitinb, rceisrrii, ,r,rt -a-n*[oiJto* DccessaD, for the implcmentdion oftt. Projecq "r" D tlal rhc scopc ofthc project is oot, rnd *ill not bc mr&rillly ghlngc.d, uDlc!! iIl4l^cn-sq. NEFCO shall oth.rwis. approvc in *dtirg; d ir shdl cornpry with iny rcponing obriSariols sp*ificd h fii! Grurt Agr€r..,t rnd h lhc tour Agrremcnr, including in prnicular the enviirr"nr"f ,"ponlni r o'Uf igu:'toii- h) ii shrll fumish to NEFC.O, or c.us. lo be fimishcd in I tincly mrnncr my rcpotu rnd infornatioo rcquircd by NEFCO urdcr this Cranr egor-t t-,!.;tos11! gttel tcpons and infonnation.reladn! ," ,h. ;;h-.;;;;; "rd lgtlg_ur no;o, ." NEFC0 (or EBRD, rhe Eumpesn coun of Audirors oi-y *rtitrto, to'ti*-6i*t"n acring thrcugh NEFCo) mey rcssonabty requesr, inctudin& wirhil ii;ttaJ;;, ; fiml rcpo,t following U6 gemp1.11.. of rhe Projecq i) it shsll providc, or causa to be provided acc$s end mlkc othc, e^nScacrfs for NEFCO or NEFCO'S rcprcsent liv.(s) (itrcluding the npres.ntitivcs of ggRD,'O" co"n of Auqrrcrs or any contsrbulor ro thc Esp whco *tiag through NEFCO) to vfuit all rclcvanr coos-tsuction and/or siEs of the proj€q rnd rsview uoof"-of"".o*, ,rfJigio rtc usc of thc Crrtrr to .s{cndn Ox drc procccds of 6e crant"tI nppfioa in Crarr, Aglemenq j) * E-,r-; .iii oo"o.I tt, it shall promptry no(iry NEFco ofs[y cve6l or situatioo thlt msy .ff.ct th. inprcrD.aution of rhe hoject ff which m,y rcqui. rh€ padies ,"sesnDcnt of ttrc rica m rgrec-J" aoarn"r,io, oi ar altersrion in lhe scopc, chrncrcr or cxccution ofrhc frojccr or ilt thE nnancing; iorH k) it shall ensure thst the proj.ct rccounts ar. kept in ncco.drncc rvith IFRS ,nd drow thcm to b. Qj \t ruditcd md itapcdad by iie rllcvlr strta My of tic Grsntee or uoih.r body ec.rptrblc to NEFCO; l) it shall fumish NEFCO with all such info.mation conc€ming the rEcords, sc4olrtlts atrd financial itstements rclating to the Projec!, as wcll as audits, rs NEFCO shall fiom tioc to time reasonsbly rcqu$q m) it shall maintrin h force, rcnaw and/or ob6in all euthorizariors nacrssary for ttrc implcmentrtion of the Project rnd for crrrying out tlle Gnfica's oFaafims gencnlly, includirg trc fullilmqll of tu conErctusl obligltioos ond.r 6i! cra Aglcmcnq r) it shall promptly notiry NEFCO ofstry evem or cinumstioce which mly lcrd to suspdsioq,s specifird in Scction 7 bclow, or any other cvcnt or citcumst nc. which eould hEve a Mrterisl AdvcEo Efrcct (is defincd rbovc); o) it shall cmul! on thc consauction siics cst blisH for thc Proj.ct inplcm.ntstion with the supfbrt of fie Granl th.t .ppmp.iaE visibility is given io thc E5P srd iB co riburors, duc ac ouot bairB takcD of thc rclativc sizc of lhc contsr'butio$ msd. by caah contributor to th. il official or public hfornrtion, itrcluding promotional Elrt rial, m lcknowlcdgemcnt is includld ond m!d. public t[.t ihe activities were funded whh rhe Grant providcd by the E5P, making axprrsr rrferEoce 1160 to the individusl contributors ofthe E5P; EsP and thrt whcI! rEfer!flce is trlldc to thc P.oject, cither p) st the rcquest of NEFCO, it shall prEpalr or have prcp6red rcrsomblc documcntatiotr or matcrial relstcd to thc Project implemrntation lo bc us€d by NEFCO, at its dfucrction, for public informrtioo and disscmination purposcs: q) cnsurE thlt nonc ofthe Pmjec{ Buildings (as dcfined in Afiex l) ar. sol4 Esrsfere4 Lss.4 privltired or olhafli,is€ disposed (whathar in s single trarBaction or in r sarics oftrrnsactions, rclatd or othcrwi.c) to a non-prblic cntity durinS a pe.iod of 12 ycrrs ftom thc darc of rhis Grant Agr€€melq r) it shall not, alld lhill not su6oriz. or p..mit lny of its ofriclrs, dirsctors, suthorized employc.s, affili.tes, lgonB or rcptlsenlstiv.s ircluding thc MDF to ong.go in, wlth l.sp€ct to tha Projcct or 8ny EansscrioD cont mpbtcd by this Grrnt Agrrcmcnt, my Prohibitrd Prs.tic. (ss &fitrcd bclow): s) it shall us€ iE best effoIt to monitor .nd cou cmct my p.rr.ivld P.ohibitcd haaica apgcd in by fhr MDf, the Fiml Bercficiai.s, any consuhrDts, supplicB aod/or othcr portncE t kitrg pin h the implcnentation ofthe Project: 5,2 For thc pupos! of this Gratt Ag.e€m.nt snd tte .bov€ points r) rnd s) of Section 5.1 "Problblt d Prr.alc." shall mean one or more ofih. following: (a) "conupl practicc" mcanin8lhc ofcring, giving, r€ceiving or solicitir& directly or indirc.tly, ofsnything of value to influence impropcrly thc actions ofsno$cr puty; (b) "fr?udulefi Facdc!" mcarlint atry Ect or oDiJsioq ircludint s hisreprlsctrratior, ihat knowingly or rcrkl.ssly mrsleads, or afc .tpts to mlslrrd, r prny ao ubutr iOr-,uiot - "tt,o, b€Dcfit or to rvoid rtr obligdion; (c) "collusivc piactice" mcaning an elr'ngamcnt bctwccn two oa thorr parti* dasign€d to schi€ve 8n impmper purpose, including to influence improperly th. actions of.nothcr puty; (d) "cocrcivc pmctice" me-uring impairing or hrrmhS, or thrst€ning to impair or hrrm, dirccuy -{ ,o-a 7 \s or indirEcly, any pary or thc propcrty of tfic party to influcncc pe$y; improFrly the actions of a (e) "misuse of the resoEc6', ,nelniog ihproper use of tho r$ou!es, aommitted eilh€r intcntionally or through r.{klcss disregard; ' (f) "obsructivepractice"meaning: (i) des'oyins, falsi$/in& altering or concealing of evidence material to NEFCO,S investigetion, which imp€ics NffCO's investiltion: (ii) making false statements to investig&tors in ordcr to msteria.lly impede MFCO,s invesriSalion inlo allegarions of 8 prohibircd prucric€: (iii) failing p *.Tp-ll ]!ll, rlquests ro provide informatiorl docuDents or r€cords in comectioo with NEFCO'S invcstigstion; (iv) thrcatcnin& hilassing or intimidating any party to prevent it from disclosing its lcrowlcdge of mattcrs relevrnt to NEFCO',S investigation or tom pursmf Oe investigatioq or (v) matcrirny impede the exercise ofNEFCo's conractuat riglts of audit o. inspection or acaess to informstioni and (g) 'theff'mcaning the misappropriarion ofproperty belonting to snothcr plrfy. SECTION 6. PROCUREMENT tulty responsible towards NEFCO for a asp€ots of any p(rcurenenr I: to 9il*.th,lbe the Projcct. The Grantee shall ensure lhat any procurEmmt _a:]-. rEtate<t such is carried out in accord.nce with NEFCO'S prccurement cuidelines applicable at the time of the panics, siping of this Gr.nt ASrccrDent and publishcd at NEFCO's websiie. 6.2 In psticular the Grarlee shall e6urE that conracE are only awfided to providers ofrering best value for moncy, arc i! compliance witfi sound principles of i*.pur"n"v t€atoelt of potential c4osultafis, coDtEctors snd/or suppliers and lhal specilic crl! is "iri 8s to avoid any ooDllicts of interest. "q; #ir; hf;so 6.3 As pan of it5 gencral mon itorint and oversighr with the projecr related procurtment, or as a ,r€sutt ot sp€citic complaint or findin& NEFCO shall be entitled ro rcview ary D(rcurament documents and decisions to be canicd out as a result of Oa pro"ur"-unr in-o'rdlr to veri$ compliatrcc with NEFCO'S procurcment Guidelines and to ensure that ur" I G-r"futJ-"**s accepteble to NEFCO. 6.4. Any contracts for the provision of se*ic€s, goods or works for .he imprementation of thc hoject sha[ be rnade b.tween the cmntee or de MDf and the coasutunl cono"i",,rppfio. 6.5 The.G.an&e or the parties aurhoriz€d to rcprcs€nt the Grant€€ shal ta]e ,€asooabr! mgrsules to ensurc that potentiol tenderers shall be excluded Aom the panicipafion in thc fiocuienetrt or awrrd of rhe Grsnl if thev are-bsnrlupt or being arc rra,ing "jtlces ulerr arrars aotnutsEIld by thc court, have mtercd into Er ariqrlgelnent"o*u'rp, with creditors, havi guspcodcd bueiness dctivities, are the subject ofnroceedings mncemiti ttosa *na", o, al in an" from a. simitar pirx.cture -pro"iaiJ 33.?-q9l::1*,i:,, rEgulauors or arE subjcg o sanctioru irnposcd by tho Europcan Union or the United Nui;ns Security ,pffjji i':i3,9 -si4 '6i il;;#;i"i;b";d;;? 6- $ Council. SECTION 7. SUSPENSION AND CANCELL TTON; REPAYMENT; TERMtr\ATION 7. 1 NEFCO rhlll have the iigh! iD irs solc discrction, to susFnd dilbu.s€rDenb of t rc Gr! rq cancel thc Crani, rcquest rcpryment of the G.afi and/or tcrminarc rhis Grant ir-Jofc or in by scnding a *rittcn notice to this cf.ct to lhc Gaant€c ifl efficut, p4 (a) thc C.mt!. ard/or the MDF snd/or thc Final Bencfici.rics fail to obs€rvc or pcrfofl rlry Epcscntrtion wa.lrsl , undetuting, covenant or any othc. obligation uoa"J this C.ant Agrreme[L projec( the Loan Agecmenl rhc AgrEemcnt. the Afrernent on oc projoct Exacution Authority or the lnvestmcnt Finsncing-Agreemcnt u ritcvani continues for a p€riod ofdrirty (30) days after NErco has notified ttre anJ suct falurc Grurec ofsuch fsih&; (b) eny inforncrion given by the Grstfce in conn."tion with th. execution ond ddivcry of tbis Crsoi Agr!filcnt, or in conncction wilh rny DisbuBrmcnf Requcsl ls fouod to bc iaconrf .ny mdcrial rcspact; in (c) h NEFcoT-rlaso{rblc opinioq it bccomcs ioprobablc, for any rcason" thet tha project srn b. implcmcotcd substaatially &s cont Ephrcd in thc fro,lect Oesdpioo llmex t;; (d) h b.corncs rppsent, in tbe rcasonablc opinion of NEFCO, lfilr thc Cr.!tcc, bc MDF, thc Fi!61 Brncficirrics, a consulrant or a supplicr or orh.r p.rrler (if,ny) iavoF; in thc hojGcr hss.ngrtEd in any prohibited prlcticci (.) it bccomes unlawful for NEFCO lo Bitc .frcct ro .ny of its obligstions as comcrnplatcd un&r this Grant Ag€ement or to maintrin the Grsnt, or if dre Grrntei or any of is reirrscntativcs become subject lo sanctiorc imposcd by thc Ewopesn Union or drc Unired Nations Socurity Council or (f) a.political, security, socisl or similar situ8tion shall ocaur, which in tte reasonablc opinion of NEFCO: (i) hss ! mdcrial adverse efrrct on the gobability of the Crant€€ obs€;ing .rd performing_any of its rcspcctive obligdions undq tlis Gnnt Agrccmcnt aod.lor uy docrimcnt rclstcd to lhe Projcst, o. (ii) hrs ! materill sdvers. cffcct on [e rccognirion of ihc validity, legslity, @fonrNbility or binding osture of this Grrnt egrccrncnt or die rirtrs. ,.r"ai"" prioritics of NEFCO undcr lhis Grrnr AgrD.mcnt. *a 7.2 Thc riSht of ti€ cI.trre€ to makc d.lwdo\dns undrr ihc Grut shllt cootiDu. to bc rulP.ndod, in whoh or in paG rs the crsc oay bc, until thc svc or cvclts which gave dsc to the ospcoriot shall h!v. c.$cd to exis! or Ulltil NEFCO shdl hrvc trorificd lhc GrsD;ec tlut ttc right to makc &lwdo*Ils hls bc.n rcstorcd, in whole or in pan. 7.3 In thc ovent that the crantee's right to mr!. dnwdownr rhall hryc bcco suspcndcd widr rcspcct to rny amount fo. a conti[uous period ofthirty (30) cllend'I days, then NEFbO by w tt.n nolice to the Grantee, Ieminate the G6ntcc's right lo drawdown su;h onount and anymay, funher anoun(s). Upon giving tiis noticr, such smount rnd any further emoun(s) ofdE Grrn! ss;bv&! shall iutomstically be cancelled_ NEFCO m8y, ar its soic discrction, sgr€c't prof.r! tfr" Oirty llOi days' pcriod to allow thc Grante. mor€ time to rcmedy lhe $itletlon. . If al any time it appears thar thcre has becn s misapproprittioD by lbc Cnnlcc or thc MDF of fulds disbuccd unde. *re craDt or thc Cranr.t or drc Moi f,"" u"ei *ersJ;;, p.t iui.d Practice or othq wilful misco uct, NEFCO mry tclminar. this cnat Agffienia#requirt ttrat drc Grur&c fonhwitl_rcpay any procccds alnrdy dirbuncd undet the GiJ n .aa'iri*, NtfCO rney require thet tie Gnnbe rcimbursc NEFCo ior any dir€ct cosB incu*d in cnon;ion utt trrc 7.4 collccrlm of such oEounls, ,s lb {\ 8f,CTION8. NDEMITIIICATION Thc C.lntcr.!.ssurtro! fiIlt lirbility for, lnd .grEcs ro and shrtt indcmDi& aod hold h.ImtGls NEFCO rs empbyccs rt&nst tnd iioD any rnd dl li.bilhics, obligrions, lo$cs, dleagas. pcnaltic& :LT cl,elmi actons" trxcE dutics, 6uits, rEo3onrblc costs and cxpanscs of *,trrtsocvc. ki"d!;d a;UI!, aDd which io sny \f,ay rclue to or arisc out of, whcthcr directly or indinctly; (,) conrcmphtcd under lhis crsnt Agr€.hent or th. cxlcutiotr, dctivcry or il:A:-rylons penormance $erco[ and/or (2) thc cxcicis. by NEFCO ofuy of its .ights aad rc&edies und.r this Gr&t AgErtncnq Fovidcd thst NEFCO shall nor hrvc iny right ro bc inddnnificd baruad.r for its own grors negligcncc or wilful miscondua. SECTION 9. EMORCEABTLITYI DISPUTE RESOLUTToN 9.1 No doley in .xclcisiD& or omisriotr to .xdrise, ery righ! powar or rEEody icaruing to eitfier Pany undcr rhis Grsnr Agr€mcnr upon rny d.fluh sluli irnpol aay such dghr,'po;; or;loody or bc corfucd to bc a wiiver thcrcof or an acquicsccncc in such &6uh; nor-shartr thc rction guch of perty ir Espact of rtly defaull, o. any &quicscac. in any dcflult, af.ct or inpoir rny right, powrr or rrmcdy of suct Plrty in rlspcct ofany odrcr or subs.qucnt dcfrult. 9.2 The Pani6 to thh G.ent Agrccment shall cndcavo!, to scttlc lmiclbly any disputc or cootoveFy betwcan thlm uising out.of this Grant Agrlem€nt or lhc bralah, tcnninrrio; or invalirtity therlof or other*$. m connechon therewith. To this end, at lhe initirtivc of.ithrr prrty, h. o$c; p.Ity lhdl nEct pomptly with the initiatint pt.ty to discuss any such disputc or conrovcrsy and, if rcqrrcstd by the initiring P.rfy. in writin& shll repty itr l,;rlng o any wrineo suUmiiloo rnrac'ty the hitiatint Psrty colccming any such disputc or co rovcIsy. 9.3 .[f eny such dispute or conuoversy, or any claim rrlating thcrcto, cannot bc amicrbly latlcd as prcvidcd for in Scction 9.2 wifiin sixty(5o) calendr d.ys oitfie dd! on which dte requ.st for s mc€titrg b mtdc .s rcfen€d to in Scction 9.2, such dispuia or contovaFy, or ctairn rclating tbaao shall be sEttlcd by artiEtrion ir ec.ordlac. wilh thc UtrCffnel etiatlon Rules in forcc at at the datc of$is Craot AgrEmenr, subjoct lo th. followingi .) The numbar oflrbitr.lors ddl b. thl!. (3). b) Thr rppoi ing authority for thc purpolci of llE UNCITML A.biEstioo Rulcs shrll be rhe S€cM!ry-ClD.ral ofthe pdrn.ncnt Co|trt of Arbitr,.tion. c) d) e) f) Thc placr oflrbiEation shail bo Thc Hague. Thc longurge to bc used in lhc arbiE l proc€cdings shsll bc English. The hw to b. applicd by thc .rbinsl tribunol shall bc public intematiooal law. Notwidlstsnding the provisions ofthc IJNCITRAL Arbit'tion Rurcs, the a$itrir tibunrl shsll not.bc nutloriscd ro tah. &r) intcrim mcrstlrEs of plot.ctioD or povide any prc-rwErd ralief agltn tnc p3fiies neither pirty msy sddrcss ro lny jodicirl audority a rcquest for ary -aDd intcrim mcasuras ofpotection or prc-awlrd relicfsgainst thc o6cr prrty. 8) Thr aIbiEsl Eibuml shall havc luthority ro considcr snd irclude in ary prooecdiry, docision or sw8!d, rny disput , conrovcrsy or claim proFrly brought bcforc it e* 6y thc p"ni& bofu ." r0 \$ sulh dispr.rtE or conEoveBy aris€s oul of this Grant Agrrmelq but subject !o the foregoin& no othcr psltics or othcr disputes shrll be included ir! or insotiaarca *ittr" itrc SECTIONIO. MISCELLANEOUS "rti""f'e.*_airrS, IOI Ageen€nt shell b€ sign€d by-both psfiies slld trf,e erfcct on tte d8te of rccript by -This-cra NEFCO of notificltion of th. Cranree on thc fulfilDcnt of intcmrl p.*iar-" f", y ,rt inio forc. of rhis Crrnt AgItcment snd lhe Loan ASrecmcnt. f.fgfbO ,friti "J'"".y nuiicatc to ttrc Grantee the date of entsjt into force ofthis Grant Agrecmen. "on This OraDt Agreement shall cmsin in erieo until thc date upon which all obligatio$ oftha plnies h'v. bccn urconditiondty snd ircvocrbly psid rna discrrerged in ful to r.reft6;.:;ft"tion in rccord&ce wl$ lie tcrms and conditions of this Grrnt Agrcrmcnt, unlcss oth.rrvis€ aglod by th€ Psnies in rvrititrg. 102 The Granree may not, wilioul NEFCO,S prior w [cn conscnt, sssign or trrnsfer sny of iB riShts, benefits or obligltions under $is Crant ASre€m€nt. 10.3 In thc cvcnt that my spccific provision of this Crlnt Agocmc is or shall becooe void or uncnfor.cablc, all thc other provisions ofthis Grant Agrccmcnt ;h6rl rcmain in nrll forte and cffcct. 10.4_ ArcrdDents {rd additioN nayb€ introduced to this Grrnt AgrccrDeot upon mutusl canJcnt of the Psrtie$ which sh.ll be formed 8s a seperstc document siglea Uy Uc faniis and €ttcf, irto fort. upon itr. dltc of rrccipt by NEFco of notific-atioo of dre Gnntcc on the furffLD.nt of the inremsl procedurs DecessaDr for entsy into forc. of such Mcndments etrd additions. NEFCO shrll commutricate to thc Grantec thc datc of cntry into forEc of such amaodments aDd additions. The documeots formed thcr€by, shsll coostitut m intcgrl psn ofrhis Agrr.ment. I0.5 The hesdings uscd in this Grant Agreenent arc insencd for rEf.Ence purposes only and are not to be consider.d or taken into account in constsuing thc tcrfis and provisions ;f any micle nor to be decmed in any way to qualifo, rnodiS, or cxplain thc cffccts of any such provisions or tcrmr. 10.6 Nothing in this cr8nt Agrrement shall b€ construcd as a waivcr, rcnunciation or ot[ct modification of any immunilics, privilcges or exemptions accordcd to NErcO pu8urrt to thc Agrccmcnt of 6 Novembd l99t between ttenmadq Finland, lceland. Norway and Swadan conc.ining NEFCO (a5 ftom tim. ro timc supplementod and/or anrcndcd), rhc FneGJo* bciw€.[ Creorgia atld NEFCO drted 25 Febn.ry_ 2014 (8s ratifiod by lhc prdiameat ofGeoiXia on 4 ag.o.-, Ap 2014), my othcr intrmational conveltion or any rpplicablc taw. Xotw.trrara-ing tfc forcgoing NEFCOtas m.d. sn qxprcs! submission to &bi;di;; und6 Seaion ei ura rocoALdy, p1 y,S:..m prEjudice. ro irs.othe. privileges snd immuniti€s (includin& wihout tinftaaoo,li; of iE archives). it achowledg.s thaa it does not hlve immunity from suit ald icgal llvrolabr.lfy process tn respect of the enforc€ment of en arbitral awsd duly made against it as a result of its axprcss submission to arbitration puEurnt to Sectio[ 9.3. sEcTtoNlr, NoTICf,S ANIr REQITDSTS Any notice, reques or other communication to be given or madc under or in conoection with this Cr.nt Agrremenl shall bc in wriling._A notice. rEquesl o. othcr communicetion may be dclivcrcd by hand. emarl or courier s€rvicc ro lhc party's add*ss spccificd bcrow or !t strch odrcr addrcss as suctr raly noultes to the othea Palty from lima lo lime and will bc effeclive upon rEc€ipt or, in thc ctsc of delivcry by hand or by estnblished courier servicc, upon delivery or refiJ a o!rpt'+fir",y. .l"y norice expressly requir.d under $is ASreem€nt.strall. if given by ernail. p.rptiy d*-ofrroid Uy ir lcttcr ro bc dctiverEd hy est.ablish€d couriEr scrvice I ll \$ For NEFCO : Nordic Environmant Finrnc€ Corporstion P,O. Box24l, FIN-00171 Hclsinti, Finldrd AtEdtion : Mln|gillg DiE{ror Tclophodq +35t l0 6t8 003 Eoril : Eloetinq(@ncfco.fi - Bo.Nyhu!@rcfco,fi For tbr Grotcc : G.orgir Minisfy of Finnnc! ofceorgi. 16 V. Gorg.srli Strccf 0l 14 Tbilisi, Cco€ia Attcotion: Public Dcttt ard Ext€rrel Fioancing D.pfihcnr or its succc..oi lhctlto T.lcphonc: (+9532)2261450 Elnlil: publicd.b.apof !e SECTION 12. ANNEXIS; LANGUAGE AND COPIES 12.I Thc Anncxcs lis&d belor form an inrcgral p6rt ofthk Gr.!i Agrc.ment. Ann r l: 2: Anlcx 3: AItnex Proj.ct Description Form ofDisburscE€trf Rlqulst Form ofCettificetc oflncumbcncy aud Authority 12.2 UnlBg NEFCO shell o$crwi!. lgrce, csch documcn! ccirificatc, strncmant, rcport aa.ou,ts, and oter wliticn msterirl r8ferred to in tlis GBnt Aglaman dull bc in lhe Englirh ioaguago or bc accomp&id by s duly ce.ti{icd English fsnslstion th6rof. lf rcquBtcd by NEFCO, luch tsosl.tioo shdl bo aadc by an autfioriz.d Ernslrttr. 12.3 Thii Gnot Agrccmcnt har bccn cxccut d ia thc hglish languege iu two origi l C.u!!.rp.rG cach hsvht Gqull lcgll forcc. * e/, l2 '.\$ IN WIINESS WEEREOF the panies hereto, scting tkough their duly authorizrd repMer itivcs, have causcd thi! Crant AgrEement to be signed. For GEORGIA By; WMinister of Finsnce For NORDIC ENVIRONMENT FINANCE CORPORATION ll ANNEX I PROJECT I'ESCRIPTION D6criptior of rbe project project is_ to implement erers/ Thc overall savings strd ercrry effciotrcy .objcctive of the tleasurs 8nd io introdu@ r€neu/sbles and altemativ. souccs 6i cnergisupply in sevoral puttic ceorga. ?mject. Buildings wi bc tocar.d in ,tr"" iid-r.di'"ii.oti. Pl,o,rg:.1 -fte -r"", oeorcatod ror otttercnt tunctions and puposes (i.e. a&ninislEtion, education and bealth) snd will bc in the o\uteflhip of scveml Firul Beneficiaries being the srale itself, or eactr rnunicfJiij or mlnistry or otbs public My lntity. purpose of thc hoject is to aec.easc ani iecahonizr enerry ..fhc * consue?tion ln the-projcct ^or Buildings and thercby, to n duc€ CO2 €missions and the costs for operali snd mainten0nce offte Project Buildings.. The koject'! expected outcomes are: . Roduoed cnffS/ and mainteoaoce costs for buildings owners; r Rcduced use of fossil fuel - dir.ctly and indirectly via reduced electricity consumption; . IInproved management ofeners/ use: . Expected emission rcduction of 120 tons CO2la; &d . Improved comfon lev€ls for buildiDgs users. I. The specific Project Buildings will be agreed separately b€twe€n NEFCO, tl|e crrntee ,trd/or the MDF uodcr th€ r€lcvEnt agrE ment to be cnte.Ed into in form and substoncc satisfrctory; NEFCO. hdividual Project Buildings may, upon the Gnnt e's.written rcquest, be rcplaccd wifh other public buildings, provided that (i) thc pEposc and resulte of lhe pmjcct remain *"t rog"a ,aJ 6l; ffifO thc firnd manager for E5P. in addition to NEFCO. has givcn its prior writtcn conint. "" The €nerg/ ofliciency ncssures to b€ introduced in lhe project Buildiqs .rc thos€ outliDed iD the F.asibility Study and lisl€d bclow: . Lnprovemeots oftle insulation ofroofs, walls and pipes . Instsllalion ofnew ventilstion systams . Installation and rcplac€mcnt ofboilcrs r Installation ofthcrmoststic valves and othcr automation conEol . Itutsllation ofheat pumps . Instalhtion ofsolar PV sysLms . Establishrnent of LED lamps and exterior lighting systEms Tho toBl invcstuient sum ofth€ projed is €stimated to bc 5.14 MEUR. The fnancing ofthe hoject is as follows: NEICO l-oan up to 2.83 MEUR E5P Crant up to I.87 MEUR Dardsh grant up to O-,{4 MEUR Iotrl 5.T4 Mf,I]R l4 %€ .$ ANNEX 2 FOR"I}' OF DISBURSETGNI R.EQUEST IG M NTE E'S LETTERHEA D)/ Nordic Envimnmcnt Financa CorDoadion Attctrtiol: Projcq AdninirEation' P,O. Box 24 t Dato [.] FIN-00171Hclsinti Finbod R..: Dlrb[rr.Ecli Rc{r..t ud.r G.rrt Agrr.l!.lf iIEtrCO lr,/t7 ESp, d.r.d l.l to thr sbov. Crsnt Agr€em.nl bctwr.r t.l (thc .tr.!r..,,) !flt No.dic ,ll . W. .Ef:.r r.trvlrtnitcrt lrnarcc Corporrtion ((NErCO). TIlc Erlns defiled in tha Cret Agl.tocDt rhal havc thc mcaning ascribcd to rhcm in thc Gr&t At !.mc{t *fra.,.r". iiOi""Oi"t rr"u_"ot Requcst. ",oa 2. . Thc.Gmtcc fr€vocably rcqucsb th. followhg disbu$qrcit, h ecao.doca with tbc tlIIIls arld conditions ofthc Gra,lt AgrEcmcnl: Ditblrrcu.ll ro. [.] Afioant ol lirnefl cttency otd @iotot in nunbe\j lh t u.tsl DilbllrtaEaot Dstc [ir6e, ,k ftquesred date of Dbbursetwnr) flhis origind Diiburscrncnt Rcqucst togetfier with &e iupponiDg documcltrtiotr, brs bc.n rorwarneo io you by tumaiucauricr.] 3. Our plFcnt instsuctions arc as follows: IBAN-Accouot Accoutrt Hofdcn Acclotrt Brrt : Accourt BrDk't SWIFI/B|C cod.t linstl the fiBlN_l@co@t nl!,,iber) lhlre ndne @rd &essl linsca none od &rcs'oJ ,le NEFCOI liuen E cdel Corcrpotrdcrt Blrk lnanc ord ddressl Com.potrd.trr B.nL'r SWIPT/BIC.ndc: iin ot ,k codcl 0f the ,lccor.rrt B@r* b not locded ln tlp counry whore cru-rency ts to be paid, enter c narnc @td d&ess olrha accotort bqk\ cotetporrd.nl b@tt in s*h cotnty) 4. The Grntoe hereby conli.mr (i) thd th! Epilrq&lions !!d wunntia3 let out in lh. Grrtrt Agrc.Dcot .r! truc and accurale in 0ll respecE at thc Dilburscmcnt p"t; (ii) tt ol oUeo undcrtrkings mldc by thc Crantce und.. thc GEnt AgrcemcDt hrve b€€n fumlcO: "r no cvcat tru iiili of dcfrult and surp.nsion (s5 d.fin.d in ihe c..nl igrlemmt) hf,s Earn€d ;i'r;'t;b.r*.*, t) t5 {q Dlt ; (iv) dut aggreg c lrnount rcqucltld for dilblllscDclr lDd ditbur$d undc. -lhc rhi! cIlnr AgrE menr shsl not st thc DisbuEcrhcni Darc.cxecd ,r,. *acr o* "gg"g"r" "..ii,"Ii"ulrlla thc dhburscoffr.-i." E-lcv.nr_SuLprojecr lhc matcrial psn of th€. prcviousty "r.a, di.br-.d-frr;r' cono lons pacc€dcot for disburs€ment under eq'on"nt a'c snd reorin firlfill'd !s or the L,oan Agrecocnr; (v) thar thc c,ranrcc. tctorc iiii,J"rii* ; i;it$, ,",t" * ;;;; ;iil;iili: ffi *i"p.di,;;i;;;;;iil;:i:,;;;:m:8fi :J_Itr;Jl*:#g*t[*"1: Di!br,"".; $ !9t immcdincty noriry NEFCO. 5, Plearc find $tached thc docum.niarior evi&ncing $o 8ll trlcvant cotrditioos tulfiIed. Frc.dcot r& Yours sinccrcly, Ou bclrlf of Crccrgir sra.......'..srStr hrqs) of Authorizcd RcpGscatrrive(s) [Pti!r, haDre\ ord tirh(s) of Auhorized R.pnserrtative(s)l jt' l6 {r ANNEX 3 ""*'"*TEiff'3;'1;H;L%ANDA,rEoRrrY Nordic Enviroornent Fin ncr Cormration P,O. Box 241 FI{0171 Hclcilki Fir and Date [ ] Attcntion: R., Ccrtfc.teofllcuDbclcy.!dAuahorlry *fry:t rc the Cranr Agrlencnr (NEfCO O1n1 ESp) Y$ rc!t') drted [.] 20lE (rhc "cr.!r Atrt b€rweer ccorci! (the .Grr!6") 11a Norti" -ilr#".li, ailt ao.po** oil: i''",*"ff;;*'Jd. lfdffiLffi"H'rffi *Y"S -;n..bv "rb*'s* $hom a'., .nd will contin,* to b", ,rtt *iJf* lnd t0c sP'cimcrr sign'rurcs of thc pctsons cach of (.) to si8n on behalf of the crantce tic r.( Gr8rrt AgrccmcDt: lu'sb for Dhburs€mcnt of fimds Provided for und", thc (b) !o sign thG .crtifio.tions providcd fo, in thc Name G.mt Agncmctlt rnd Office Thc pcrlons mrtrcd rbove ae aurhori2cd to rat. Specimen SiSnature $ch rtions [crch by tin-/htiscrj yry. [ [.] togat6.] *1 -.y srch p€non clntinuar to bc ao ruthorircd util )/ou rlccive .uthCized noricc too the Crrntcc thal rtl.f, or rny otO,"., _Y1.r_n"f wnttco Yours fuly, i. "" i""g;'j;-"#.- ""- GEORGIA Bv: Nme: Nikoloz Cs8lrs Ministcr of Finance ,* l7 \t