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SsDfsr oatl'. E r!,a.crdR.rdt o,cJ.o.![' GER AN .rd FRENCH FlMNclAl- cooPERAnoN WITH GEORGIA Deolaratlon of htent b6h€€n Gowrmant of GogEh, roPr€sonted bY lh6 Minlstry gl Financc of Goorgh CGoG') and KfW, FranHurt am Main cKfw') and Agonce FranFlse de D6v€lopp€ment, Paris (?FD) - Suppod of the Ensrgy S€ctor R6form of Georgla PrcFct lO: 39865 i'iq'v $rpF(o(&. E rE s.C.. i.tom ol G.orlL 1. l,riroducdor D€vslopmant Btnk KtW end RBprar6nlativoa of ths C,ov.mfi€ol ol Georgi6 (GoG), Gormsn FobruEry 5 and tho F.str.i Dovelopment Alpnc, (AFO) gath€red lo Tbllsl. Goorgla bolween GoG't amtilb,! rdotm eger|d8 Fobruary s, 2ols to ditojls tl€ poa.lt e ruPpo't 'n rE ted ln 6erlv 2Ot7 wi6n thc GoG approach'd Kl'V wih a " Enrrgy S€c-tor. Thls hlllstiv. ,"qrJl o o"e.. optio* for 6 Pdhy a8!6d L"ldilE (PBL) operaiion to 3'rPpon Goolglal dt{n tho 3ralrglc fram6rqk! o' t! ful m'mbdshlp In lho Em€y r"to.. p* Community (EnC) snd 016 EU A9'sodaton Altoom€nt lt i! und€Gtood by lhc pettbs lhel lhb ooclaf.tiono'lnlontbnord.ftBde..nag€cmen|enl...dlntobyp.rtlosw|lhlho|ntonllon ol c,oatlng l€€al obllgalions (t€€ Annoxa! 2 aid 3) Th. Rosd ii.p 201&2021 end lho co.r6pondlng Poliry t&lrir 20'18 relovant lhc Mlnbtd6 (MnbtIy vrers dovdop€d lolnuy wflh lhe Mnbt y ol Flnano' and th' a 2Ol7 to th€ Mlr&uy ot Economv and SuslshaHo Oc{oloprn'nl) JE*OV r",p"a "tta tho Eu4En€rgy ro€lonal ou,o. ,i."a iaf*ruo*s, e3pochlly thc En'rgy Communlty and from an oady llaoe' oftco ln Tbnill wlr€ lnvol\6d h dodoPmBnl ol lh' refo'm 9'ogEmm€ (AFD) Yrero pa with tho Eu ocbgation ard lhe Frcnch Oo\Ebpment Aecnc' Tho ardranga on lho PgL oporation b6*,J, *,ir' "no *tr,nstod ln lho arvbag'd doe6 coops-atlon wlllhgnB3 to EU Oohgation'3 XfW end a prolimimly indjcation d the ,*"n t" efO "rrO support lha seclot refolm Focass wilh todlnLal e$istanct' yeals 2018 untll 2021' 9pecTh6 prop66d PBL ls sttuclured dom a Ro6d i'Iep cov€rlno the Th6 pollcy mal'ix wlll b€ itiod h ; polcy maldr ad ttacksd ov6l a mulli'y6ar PBL spproech of lho Road fi'laP in updsb Ah baso d6p'ndng on necoslly upO"tO ,J"O "rruel "r,O ls cotBlderod belYYoofl th€ sbning padl€6 ot lha slgnhg pa.ll6! a3 ard wtron rquLed w bo t'st of the Steedng Cornmitie€ a! ltPulatod In chaptet 3 ;; - * "pton. n S-rye"d fft"t n "" MaP' to neke any n€c63ary sdlucnErb ot hs Road 8nd condltlorB a5 'r'!ll es lho commitrnont ol diligonce hdbalivo bslb and aro rubi6cl to lho rosulb of e duo KtW vould like to hlghllghl lhat a[ olvon t'ms ;;"; r;; ; "-d;iv tlE Gerlllsn c'o!!fiX:l,y3 man'gcrn€nt f*" Ut'"t""'f ", a * appro!'d of both 'rd of lhc borov€r slluatbn an analy3ls ot lho ment. ThE Ouo Olli!€nc6 vrilt encompass co'lcopl' an'l op6rallon 'lnanclal and plstBiblity of the plannsd lmpbm'ntaton o'-a in thl! d'daratbn of lnlont conslllulBs an ofcr AFD u,luld liks lo t shlbtrt that noihlng to decrion AFus ft", AF"D ti polid€ financing to ure Go\'Emm€nt ol G€oQia or a comprch€rF b. subFd ids€ns to (i) tho pooilhrc condusbn (1l parllcllat on dlm"9 on tre tdentilled programm'' ln (lil) aPproel or AFo'3 dtolsrms and condluon! of lho financlrE clrange ln th€ flnenoal slluatlon sbs€noo ol any malerbl advone ;ffi; ffi;ffi; il;; * ]ffi"*il""* ,,*"* ffifl-a#iL;" * P"i i,ilr"", tk) ""ili[ dllhebo.'orersnd/orma't.tcooditlorBafid(v)nclptbUoo.ndot.qJtbnofE|llh€lgleled r6r€Ienc6 onv ;tJ"Jo'v to ffo rh" r'sur€s lnd amounts ar€ lor #;ffi;;ffi; e l may bo subl€cl to char€E ln tho fuluro' Kfwt!u|dalsolik6lohigNhhtlhatfo.alllt€|nsofthep(oiedtobrfnancodbyKnlvnYto ; itu: **j[f"iffiffil il xffi1;I,fr1^H,]J; il;H";';il 6 Assgn vb.3 rvell as th6 Guld6llnes fd th6 !t'p6' Noobiecdois o( KfW to rol€v'nt Foq'jrems AFDwdid6kollkglohlghlightthatslll€mso'th.p.ol€cttobe0nenc€dbyAFDnsedlob€ ru16a paotu..d scodlrE to AFo! pl@urement /tjlt2 t$n Sspro.i ol lh. En rly s.ctor R.iom ot C.oeL 2. N.rt.t p. lnd tlrnrlin Tha Gol/glllndlt o, cdDb. XrW ard AFO sit lanncll tha r€,(t 3!apa ,6 tha Oua DIICaE alld p.oFcr r.!Dfdo.lr. Thaaa lndudc: No. Tentati/e Timeline Slgnlng d FharEial Aorlcmar by c6oets, rEp.e. Apdl 2018 ssntad by lho Mlnlslry of Fhanca, and KfW oo b€haf ol th! Gfiian GoEraroot tor . grsnt. p.ovid.d by tha Garman Govgdnant b llnanc6 e corBultant to. tho proiocl dor/llopmont. Kfw-int6rl€l alDralasl eDd prDpolal lo lh€ Gqman March 2018 MlnLlry for Ecommlc Coogontho and DGvltopmcnt Contrd.&C o, . co.lrdLnl fd 016 projad d6/!lrF April 2018 manL AFD ContraodrC of a oonsr(ent for condxihC pqrt oa lha May 2018 a$ocid€d LdnLal marlul!3 toclarn fo.2O1& 201e Klwlnlemal loan appro\rdl iray 2018 AFD AFO lnt€rnal lo€n app.o\ral July 2018 Krw - As!6!Eme.rt af [16 fu ilmant oI lhe rBlsvant tdg0o6 August 2018 AFD for 2018 Kfw - MOF SEnhg .f the first loan agrogfi.nts (h caio of po6i ttu€ r!8ult o, th€ Blessnrnt) b€lu/€€n lh6 KIW snd Gaoroie, rop.€rentad by th€ Mhi6fy of FkEncc and also b€twr€n th€ AFO ard Georlie, rep.Bonted by lh6 Minbty d Flnance Krw. Dbbursemont of Loan Fuid! from fist loan agtEe. AFD. monB (dcr rauicatlon d losn conlrac$ by lh€ G€or- ioF olen P.dLm6nt) AFD. Soptemb€r 2010 Docemb€r 20'l I 3. Struclute lnd Ratlon.l of illg Envlargod Cooperrtlon Obloc,$/s of tha prcCrdn 15 lo conldbuto to tho implamrnletbn of th. EnC Treety and tro Et Alsodatlon Aoroamonl foll.dng aooidnlc grc,.,ih lhrough cro!!+ordd oleclrbity tredLg, the ,odrdbn of oI€onhouse gg! omlsllons vla sn enl€ncad cmrgy .filclonq ln co.lsumplion of docfldty, tha cl€adon ot add&io.tal oxporl capacity fo. ahtity lhrough le_ dtrc€d domostlc con8umptbo du. lo siarly effldo.rcy m655r'll€a (alpaclaly h eloclir'ty lreNmbsion and bulldlngB) ard craatlon of lknbd Jobs wilh luE e pot otlal, €.9. ln a funrre o&ntad coaBt uctlon lador. rllbdlr€ EL, !brd8r& lh comlircton. lutf z tgl,, w lupDdi oltn En .!r 3.dor R.tdln ot G.dtt. Thaaddr, GoG, KtW end AFD .xpr!a! [E ,ohad urdactandng aboirt lha foflowitg: Alp o, fl. PgL - Th6 oq.dhct d olc PBL.,s (1) the ,€glonal rnsrk t hb0ralion rvllh lrlorBnca lo th6 EnC Tra€ly wtErovsr posgtu€ to sf.nOthon Goorgleb poltbn e! E llCtoaal.flaagy hub and to afiurg thc oconomtc auaLh.b$v ol lhe l.iYlstrrE i! hto th6 trsns,nbsion irr.astaudrjra ol c.d!b. luppo.ted by ths hte.natbnel (bnor co.rmunlty end. dos.ly lhkad to a &rtrl,l.ble m.rk d drvalogmcn( (2) Ensly E ndonc, (6p.cbly h hrldlrlgB), rlf€ntlre b t,l. t{.lbrC En rgy EfiL d.ic, Mion Plan (NEEAP, rd.-.d ml4 and Ul. d€dinitbn .rd tmptlm.ntatjon ol Ilspodve Enargy Eficioicy Sbriarda. f! lurtha. davsbpmanl and Goo.Cta,s obli, gdlon! !nd., tho EUEC tr€sty. Sructurc of th. PBL: - Tho 6rrba€ld +y6a. st"aLCy lr ouunad ln tho Road tiiBp (Atl,Er 3), sp€dted h a Policy alrh (Arhar 2), tha lbt t aontaln! daarly dGtined hdicsto.. m lhc roqurcd prog.ora of th€ rElormr h lha ra8p€divc tlotd! o, aclion (6mert lrboara, ier Ann€x r). . Thg Pollcy btrix in Annor 2 l! sgrB.d boi.vssn GoG, KrW and AFO aflor consuletbn wllh th. rcl€vent rtal.trHG.! (o!p. t oESO. GNERC, cSE, ESCO etc.) ard di!. qrssbn wilh rel€vant dorlol! ln ih6 !odo.. Sre€rkE Slructu 6 .rld C@rdLElbn - GoG, KIW a.td AFD rhar iho comnon ud€6tarxrin0 hst 0r necoa!5ry auppod to( achlovlng lha dated Co6k a! odl,lad ln tha Road itap requlras a hlgh 16€l of coor- dlrEtlon u,i0lh lhr GoG, bGturon Goc and lha dom. cdimunity but abo btwaon ho dono.s hcmsolr,ss algllrdlng lhek dfreronl progasrng on enorgy s€clor rcform and orurgy oftlcl€rEy. ftgrdoro, en 6f,octiv6 lt!€rino stuct 16 wdl bs 6stablbhad. Th3 cornpo!fiion ol thls lErrcfur9 wlll bo egE€d on a n€xl ltrp lo $sr.a lhal lhe I rde€nt d,etlholdt! h Irtc secba arE sft€ruy rop..as od. Iha d63tgnatod sL.rhC lhr.tur. for tl. PBL (Sl..rito Corihlteo) ht€.i! to hdfitrt the tnu.tiv! d GoG tor mol! advancod donor cogadlnaton in tha soato,. . Ths Policy iratrir rvill be confnuou.ly updrtod tsking lnto consir.Bton of the Road [4ap for h6 follovring plla.3 h thc 3.d quader of mi8, ftrloctlng tho &] 6vem6nls ln lh6 1{ pha!€. Ph€3kr. Dbbo.s€d€nt end Elralletbo oa Resdt3 - Tha dbhradiant ol lo8 B out of thc PBL b linkad !o lha po6uvs evaluailon of th6 lft dloatDr!, d.trn€d h th! tulcy Matt (bh06r8) .3 p6n oa nh€ lnd6mG .do,t of O|c 16,oirl. h the r.lpedlvo ,hld! ol &1lon d thc lndlvldual lubselors (Allnox I ). - Tho &d phasr d lhc PBL Ir 8dEdui€d to rlad h 2018 to ellow unda, tho procondltlon ot an adsqu€lo 16/€l of frrnlmor[ of lh. aOre€d oulgaliom a dbborlatiod of the ,irsl l/'l->' (t 135 lsDro.r o,ti. Edr!,s.ctdRft. oa6.o.d. trencha omdy lo ba con8idar€d lo tho m18 bsdgrt Subcoquonl an rurlv otduathns fo. tha llBts 20182021' pher's folow wilh an y!E!!x vol_ . A ooflrapondlnCly amtlttou! pollc, mst'tr ln connrdlofl wlth 5 "16v'nl fundlng (GoG' um. gu..ar{o; tho rblb lty of lh' progtam snd ol lho idning (Bi/lz), AFD and potcnlkity EU) ln 8l. !6'ior dhlo0u6 podno's Kt'Jv for ltE dellgn Adovrrr wU be Geo.gL, rlprlldlbd by 016 linbtry ot Fnrnos Rosponsiblc ptog"m Mnbty of Econ_ tho b th' erd lmpldncntatlon dOE aldor l! dm! a!'Bd utdor omy and &rltahsua o6\rdoFnd{. end imPlo|rEntlng a compr'_ Th6 p,ooiam lharrld paorda rnPoafad fnpotus fo' trudurine this' b btjiElng I hto ltr poltcal rdo'rn Fecs$ To adi6/. in on lho bblvolumo ovsr th6 €nli'o tmount oI lh' funds n"*"""ry fo ,"""f, "n .t# ***-Jo. "n "gEom6d ord",toe*rre"ninte,locklnglltllom6ntolalltourphaso!sinc'lh'follo${PPl|as6tcan a ut" prsvtxlr Pha!6 6rd th' tchLv'nrcnt of *" *""o"u J r*"* ",iV th. d*l.d pelotrt indlc.lo6. -tnpt"u* For th€ PBL l€nLtlvsly losn commltncnts o' EUR -rO-"jriwl* 7'l m[ion p a ero lo'€6'en fot et l6a6t th6 lo K'ws lrltied ,."nliel .!.ten!lcns (tdd lo"n: EUR 296 mllon}'podod ,.". ot b' prc alion lJ a*'" go"ta "pp,""lr €a.rl y66t durrE ltic rhob imd€n€r a twoio-on€ retlo (KfW aP nra.. *fW ;onmgt6ly ffd on a sha'c d th6t commitmonts h "gt* ol th€ lotnl lo'n amount) EU ""0 ts/o lhH! oI th. lod lotn amounl, AFD ono lhH *,rld suppori lhe tu[nrnent ot lho cnt'da ot tho policv bas'd loan "pdf"Uf", tf btlb ol a rdtten ttqut't film the Gov_ Tho tinal lundlng \rolums shai b€ d€l"tnln€d on il frrra". f .mmant d Gs.gta. lut)-'v S(tIDon oa ih. Enqy E.clo. R.i.d oa G.o.glr All !6de5 alr boklm to /ad to a succesdul coop€Eton in otder sGclor ftrom ln G€o€16'a enolgy Sactor' to lmpbment 6 3uccessful ,0,0,, ..h*X..l.tro,. Gowm.n€nt d Geoqia Mr. Mamuka Mlnlsterof Fo, KMI: G*Z Hans RIed( ohector KIw offc€ Tblllsl Kffl Soobr ro€d LlarEosr For AFO: for lhe South Csucasus Annsr 1: Monitodng SclEme Annex 2i T&9€r Mat i( 2018 Anmr 3: Road MaP 201&2021 t3?

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AT'D AGRXEMENT N" CGE 1OI4 OI Z CREDM FACILITY AGRTEMENT drt.d .. of 2d of Octobcr 20, t bctw.aD AGENCE FRANCAISE I'E DEVELOPPEMENT Thc lardrr rDd GEORGIA Thc Bonowc! -.lt 55 t. 2. 3. DRAWDOWN OF FUNDS INTERf,ST 4.t 4.2 4.3 4.4 4.5 5. MARKET DISRUPTION 6. FEES ll 1, REPAYMENT 8, PREPAYMENT AND CANCELLATION II ll 8.1 E.2 8.3 8.4 8.5 9. ADDITIONAL PAYMENT OBLICATIONS.......................... .......13 9.1 9.2 9.3 9.4 9.5 9.6 q.7 t0. -........................-,-., l5 REPRESENTATIONS AND WARNANTIES 2 ;,jrl) 66 ll. UNDERTAKINGS I2. INFORMATIONUNDERTA(TNCS I]. EVENTS OF DEtrAULTS ...........20 ,, ADMINISTRATION OT THE FACILITY 15. ...24 MISCALLANEOUS 16. NOTTCIS r 26 6.l t6.2 r6.3 11. GOVERNING LAW f,NFORCEMENT AND CHOICE OF DOMICILE l7.lCovcmin8lrw....,........""21 17.2 Arbitretion........ l?.3 Scrvicc ofproccss I ------ -- " "" 14 '27 " 28 67 18. DUR TION,,..... SCHEDULE 5C. FORM OF RATE CONVERSTON R.EQUEST ......_...........48 SCHEDULE 5D - FORJU OF RATE CONVERSION CONFIRMATION..._,....,.,._..........,.....,,.,49 SCHEDULE 6 . INFORMATION THAT MAY BE PUBLISHED ON THE FRENCH COvERNMENT WEBSITE AND THE LENDER'S WEBSrTE..................._.,......_.._................s0 SCHEDULE 7 - NON-EXHAUSTIVE LIST OF ENVIRONMENTAL AND SOCTAL DOCUMENTS WHICH TIIE BORRO\ ER PERMIT'S TO rB OTSCIOSTO rX CONNECTION WITH ES GRIEVANCE MANAGEMENT PROCEDURES..-..-..**......-....Sr ti 68 CREDIT FACILTTY AGREf, MENT BETI EEN: (A) GEORGIA, rcprGcnlcd by Mr lvanc MATCHAVARIANI, in his capacity as thc Ministd of Financc of Gcorgia, who is duly authorizrd lo sig, this Agteemenl ('Gcorgil" or the "Borrower"); AND (B) ACENCE FRANCAISE DE DEVELOPPEMENT, s French public cnrilv govcmcd bv Frcnch law, with registerrd officc at 5, Ruc Rolard Barthcs, 75598 Pa.is Cedex 12, Francq rcgislcnd wilh rhc Tradc and ComPanies RcSistcr of Paris und.r number 775 665 599' repre.cntcd by Ms. Ga€llc ASSAYAG in her capacity as lic H..d of$c rcgional omcc for thc South Caucasus of thc Franch Dcvelopmcnt Agency, duly authorised !o sign this Agrccmcnt, ("AFD" or thc "LcDd.i'); (hcreimfrerjointly refcflld to as the "Prrti€s" and each s *Puty"); WHEREAS: (A) The Borrowcr inlcnds to adopt laws, rcgulalions and implemeDt thc 3d Ener$/ Package of Europcan Uniol and prcmote energ/ cfficidcy policies in Gcorgia (thc "Progrant'), as describcd furlher in Schedulcz lProgan Description\. (B) Thc Borrowq has rcqucst€d that tlc L€ndcr makcs a facility ayailable for the purposcs of par{icipating io the financing ollhe Program (C) Pursuanl to a rcsolution n" C20180325 of thc Forcign Stalos Committcc (Co1tit,i des Etots Etran4ert\ daled I I July 2018, the l-endct has agre€d to make thc Facility availablE to thc Bonower pursusnl to thc tcrms and condilions ofthis ASrcement- ,,,;\'') 59 THEREFORE TIIE PARTIES SAVE AGREED AS FOLLOWS: I. DEFINITIONS AND INTERPRETATION I.l DefinilioG Capitltisrd wordr rnd cxprrssiorlt urcd in this ASrr.rncot (irluding lho.c lpp.aring i, thc rcci(sls abov. snd in thc Schcdulcs) shtll h.vc lhc trl4ning givcrl lo thc'n iD Sch.dul. lA (Defi[iiions), cxccpt as other*isc Ppvidcd in this ASrccman(. L2 lnlcrpradion word! snd Exprcasio6 uscd in this ASteaocltl stull ba cansrucd pu$uttr to thc Provisions of Schcdulc I B (/n,a?r.rarior), unlcsa thc conr y inla ion lppcars. 2. FACILITY, PURPOSE AND CONDITIONS OF T.ITILISATION 2.1 F.cililv Subjcrt to thc lcnns of this Agrccmc , thc Irndcr mrkcs av.ilablc to thc Bolnowc! a Facilily in a nrsximum sSgrcgalc.nDunt of l*cnty fivc million Eums (FIJR 25'000,000). 2.2 Puroosa Thc Bonowcr shall apply all amount borro*ad by il undcr lhir Fscility cxclusivaly lowardg financin8 thc imptctncnulion of lhc Program as dcscriH itt Schcdulc 2 (Progan Dcscnpiion't and in accordance wilh thc Indi4tivc Policy Malix d.scrib.d in Schcdulc 3 (lndiclliv. Policy Malrix). 2.3 Abs.rE. ofUabilitv Thc t ndcr sbsll not bc hcld r6poGiblc for lha usr of rny ltr|ount botrowad rvhich i3 not in accordtncc with lh. ptoviaionr of this Atrctnrnl 2.4 Condilionsorccadcnt (a) No latcr lhan thc Signing Drlc, thc Bonowct shall providc lo lhc lrrdcr all of thc documcols stl ou in Pan I ol *hqdul. 4 (Condilions Prccedenl). (b) A Drawdown R.qu6t may nol bc dcliv.r.d to fic t rdcr unl..s: (i) thc l.rndcr h.s rcc.iv.d all of docuttlctls listcd in Pa( ll of Sch.dulc 4 (Conditio$ Precede ) ord hls notificd lhc Bo.lorlcl thlt such documcr s arc salisfactory in form and sublancc; (ii) on thc dalc of thc Drswdow, Rlqur$ ard on thc Pmposad Drawdowo Datc for lhc Dtawdown, no Paymalt Systqns Distuption Evcol h!3 occurcd rnd lhc condilions sct oul in lhis A8rccrn.nt havc bccn firlfilled, including: (l) no Evcnt of Dcfault h continuinS or would r.sult from thc proposcd Dra*down; (2) lhc Drawdown Rcqucn has bcan [udc in acaorddce wilh lhc lcttN of Cla|J'sE 1.2 (Dm*down requett); . i'4 70 (3) Each rEprcscnlation givcn by thc Bonowcr in rclation to Clause l0 (Represenations ond warm"ies) is tru'' 3. DRAWDOWN OF FUNDS 3.1 Drawdown arDunts The Facitity $dll bc rnade aveilabl€ to the Bormwer during the Availability Pcdod' in onc singlc Drawdown. Thc amount of thc proPoscd Drawdown shall bc lwcnty 6ve million Euos (l) (EUR 25'000'000)' Drgwdown E{uesl 1.2 ProvidedihatthecddilioNsetoulinCl.usc2.4<b)(Conditionsprecedenrares8tisficd'thc nn.rot cr .r, aru* on rhc Feilitv bv delivcry to the Lendcr ofa duly comPlclcd Drawdown r-r*t.-fi."'o|-a"a"", Rcqucsl shall b. dcti'errd by lhc Borrowcr lo lhc AFD head offict il;i;; il; ar.p", Midilc East' Asia DcP.rtm"r at the address slecified in clause 16 1 (ln viting ond addressesl. Thc Dra*down R€qursl is irevocablc and will be regarded as having been duly completcd if: thc Dra{down Requ.st is substantially in fic form set oul in Schcdulc 5A (a) (For'' o/ Drawdown Request); (15) Busin6s Davs (b) thc Drswdown Requcst is rcceivcd by thc Lender at thc lttest fifieen priorlo the Dcadlinc for DEwdownl (c) the proposcd Drawdown Datc is a Busin€ss Day falting within the Alailability Period; (d) thc Smount of the Dravdown cornplics \vith Clausc 3) (Drawdown anouna); aod allofthcdocumcnlssctoutinPanllofschcdule4(condition'Precedenr)forth.purPos€s to rtrc orawao''n R'quest' clmplv *ith rhc lbovemcnrion€d ;;;;;il;;;itachJ *iitirt"i"quirements of clausc 3 4 (Pq"'r ent nechanics)' and arc in foo,r and ii,iiirr" (c) "ii substsnce s6tisfaclory to lhe Lendcr. 1.3 Pavment comolction of the condilions sct out in pi""a*i1of rt'i" lgt"o*ti has te€n- mct' the.Lcnder sh'll rnak' Subiect to Clausc 14.7 (Palment Systens DisruPtion)' if each ci"i* z.lOlilrra*rzi tt " iaqo"tt"J ora*aorn availablc to the Bonower not latcr th'n the Drawdown Date' confirmalion substantially The trndcr shall provide the Borowcr with a lettcr ofDrawdown mtel s"r, e/lrire 59 \Fom olconlinnation of drawdoffi and ," i"ii" i.- "ril" 3.4 Pavmert mcchanics TheoroceldsoftheD6wdownshallb€paidtotheBofiolvcr.sAccountoranyolheraccoulll *hic"h aerairs willbc dnly nolificd bylhe Borowcr lo the Lerder' 4. INTEREST 4.1 lnterest Rale 4. I . I Sclcotion of Intcrest Rate .. "r)../-) 71 Tha Bonosar nuy Salcct a firad Intlrlsr Rrta or a f,oating Intdtst Ratc fo, thc Dn\xdowq yhich sll.ll rpply to tllc lmounl sa out in tha rdcv.nt DEwdow; Raquasl, by sutilg thc .clact d Ifitcrlsl Ratc. i.c., fixcd or tloarin& in lhc Dra*down Rcqu6l dclivcrld to ttrc tcnai substantialy in thc form scl oul in Schcdulc 5 A (Form of Drurdown RequeJr), subj.cl to thc follon ing corditions: (i) Floaring tntcr6r Ratc Thc BoEowcr may rclcct s floatinS llrtcrlst R lc, which shrll bc tha pctta[ltlgc rarc annudL baing lhc lSgrrgate of: . F six.nronrhEI,RIBOR;.nd thc Mrrgin. Norwilhsranding thc 6bovq ifthc fir$ InreEst psdod is lcss rhrn on hundrcd snd thiny-fivc (135) days, rh..pplicablc EURIBOR shall bc: - on.{nonrh EURIBOR ifthc fiIst Int (!st pcriod iB l.ss lhln tixty (60) daF; or rhlrc.n onlh ELJRIBOR ifrhc first lntc.lsr pcriod is bdwc.rl sirty (60) days and oDc hundrcd and ftiny-fivc ( I 35) doys. ( ii) Fixcd InlcrBr Ralc Thc Bonowcr lruy sel€d a fixcd tnlcrBt R!tc, which shrll bc thc Fixcd Rcfa&rr. Rltc incEaacd or dccrllsd by lny flucruadon of thc lndcx R.tc ion lhc SiSnioS D.tc until th. irlcvlm R.sIc SeIinB Datc. Thc Borlo*c itly spccify in thc Drawdown R.qu6l ! mrximum slrDunt for fuod Intcrcst Ratc. If the fixcd lntcr€sl Retc 6s cslcuhlcd on lhc Rrrc Satting Datc cxcacds thc mlximum amounr for fircd lnterca Ratc spccili.d in rhc rclcvant Drawdown Rcqucst, s1lch Dmwdown R.{ucsl shall b. cancellcd and rhc DEwdown armunt spccificd in thc c.nctll.d DEwdown Rcqucst stEll bc c&dircd lo thc AvailableCrcdit. 4.1.2 Minimum Inrqlst Rrtc Thc lnlercst Rslc ddcrmincd in accordancc wirh Clausc 4.1.1 lklection of Inwest Rate) shal, nor bc lcss than zc.o point twcnty-livc pcr ccnt (0.25ol.) pG. annun, nolyithtlnding any dcclinc in thc lnter6t Ralc. 4.1.J Corvc6ion from a ,losting lntcrEst Rrte to a fircd Intard Retc Thc flo.ling lntcrGl Ratc applic.blc lo th. Drnwdown shall bc corv.dcd lo r fucd lntcrcst Rotc in lccordlncc wilh thc coDditions sd out bclow: (i) Rrtr Convcrsion upon ihc Borowcr'a rcqucsl Thc Bormwcr may rrqucst !l lny tirnc lhar thc LcndGr convcds tha flostit8 Ratc appliciblc to thr D.awdo\rlr to a 6xcd lntcr!.t R!tc. I c'lsr To this crfcct, thc Bonowcr shall scnd to lh. Irrdcr I Ratc Conv.'sion R.qu.sr subltr ially in lhc form sct oul in Schcdulc 5C (Fom of Ratc Convarsion Rcqucst). The Borowcr msy spcciry in thc Rstc Convarsion [r[cr r maximum smou for fixcd lntcrcsr R.lc. If thc fi,(cd lntcnst Ratc .s calculatrd on thc Ratc Sating Datc ?2 by-tho Bonowc' in lhc will bc aulofiLlrcalry Rcqu'st p.atc Con"crc;on Raqu6t, such Rltr Conv'Gion cxcc.da thc rrEximum rtIlou for fixrd l.Dlcr'sl Rstc aPccificd canccllcd. Thc lixci lnrcr!$ Ratc will bc cff.c{iv' lwo (2) Busin6s Days !ftcr lhc Rsta Sdling Dstc. (ii) Rltc Convcrsion rrl.ctradc rhdl bc dd"mincd in Thc fircd lnt..e* R-stc spplictblc to rlrc rclcvsn! Draedown lhc R'ste s! ing Datc on q tbovc no") lll Cioa nr'et *ttrt r.fcrtld lo in $bpar.grsPh (i) lbovc' il i""* "J.Ji" of Rdc Clnvclsion Thc ladcr shall scod to lic Bonov.I ! ldtcr of confirrnalion f"rm s{' out io Schcdulc 5D (Form of Rde Conwrsion tlffif"rry-'f" ,i" ConfnDtion) A R-rt. Convrrrion i! 6tulrnd !t no costs' 4.2 Calculation snd MvrLilt of inl.ftst Tha Bonowcr shall pay acqucd inta'Bl on th' Drswdow[ on clch Paymcnt Datc' a rclcvrfl P8ymcit Datc and for.r rtlcvant Thc amount of inret6l pSyablc by hc Borrowcr on on rhc arnount io ihc sum of anv intc"cst owcd bv thc Borrow'r i lntc"rsr owcd bv thc Bonowcr in or ii P;; i*Iil'i;l ;ffi;A;;i;;;;"ip"t in ,csp""r on thc bssis of: Le-r.iir," o.ia."" ihall bc;huhtcd'lior'wdow' in r6pcd of lhc rclcvant (i) lhc OubrtndinS Plincipal o*ed hv thc Botrow'( Payn'nt D'tc or' in thc casc of Drawdown as at tllc l(Er'orrlcly ;r'ccding ,fr" iro ln,G("s p'iod' on thc c'tr6PoDding Drawdo*n ,iil Dllci rhc cract numbcr of days which bavc accrucd duri'g thc rclev'nt lntcresl t;rc' hundrrd and sixrv (360) &v v€ar; and ii.-J *,r,lu"ii. "r" (iii) ftc applicrblc I rtd Rrtc dctcnnitEd in rccordan& with lhc provisio s of Cla\t* 4.1 (lnteres| Rotel' 4.3 Lstc oavficnt snd dcfsult inlcrGt (a) (cxcrPt fot intq'st) !,rc poyme lrd d.fault intcrcst on sll ttuoutrts duc rnd uopoid lrndcr-undct this tf thc Bono*.! faib to ply any tnount peyablc by il to'lhc tc's or i""."*i i*f,"ft"t a prymrot of principal' I Pr@yrncnl l'rdcnuity' rny irs ;ni una otfit rt -v *p"la ov'rduc intcr€0byon fmm trw' pcfmincd cxtcttl "i drc lo ali",l"i"*J"iar *.*c on tttc o'cdic a-out't' grtitral award' an aia (borh and bcforc ,rtj a'rc of rcnul fvmatr iiJir"'ilil',itri" lntcrd Pctiod (dcfauh intstJ) 'r,.ilJ rtt" c"rcor io r" appti"aui" iiit i "-ii" pointn fivr pcr cc (3 5%) (lalc'pBymcnt intE st) No forml prior i""..i.J uv rr,r." ###';;; duc noticc lrom thc Lcndct shall bc ncccs$ry (b) lrlc poymcni lnd dchult int"!51 on unptid ovE'duc intcr6t datc shsll bcar intcllst' lo thc- cxtcnt IntGtlst \rhich hss not bc'n paid on its duc tnlccd Pcriod ldefsult ,rr" ntcrst Rati applicattc to th' ongoing ##n"a'ivlr*' ", rc lhc i",clii, irir-""a U ,ft * poinr fwc'pcr c.cnt (3 5%) (lat'+sync inl'rts)' cxtqrl thrt $ch lntercsl hrs bcan duc and psyablc for st lcast ona (l) yaar. No fomal prior nolicc from thc Lcndcr shall bc ooccssary. Thc Bonowct shall poy any out$ltding intarlst urda this CIrulE 4.3 (Late poynent and default in,cras| iN cdidcly on dcrirnd by lh! Lcnd6 or on .rch payrn nt Datr following rhc duc datc foI thc ouBtloding prymcnt. (c) Rcccipr ofsny payn ol of lltc plydEo! intcrlg or dcfru[ iorrrBt by thc L.rds shlll ncithcr imply thc gra[t of any paymc cxtansion to tha Borowcrr nor opcdtc !s waiva of ,ny of thc L.ndcr's righB hd€undar. ! 4.4 Communicstion of lptcrcst Rrtc! Tlc Lndcr shall promptly nodry lhc Bonowa. of dr da.imination of cach Intarast Rrtc in accrdarrcc wirh this Agrlqnstt. 4.5 Elfcclivc Clob.l Ratc lTau f/,tcrr.6/arrdl) In ordcr to comply with Anicld L. 313-1, L.313.2 6nd R.3l3J ra req. of lhc Frcnch Consumc. Coda and L. 3 I 3-4 of thc FrErch Mondary snd FiDncial Cod., dlc L.ndar inforrn5 thc Bo,llow.r, .nd thc BoIrowG' acclpB, tlEl thc cll.ctiw globrl /,]tc (ta6 dacait gtobl) applicrblc to thc F cility mry b€ valucd at rn aruusl ralc ofonc point nincty fivc pcr ccot (1.95%) on thc basis of s th€r hundEd 6rd sixly-livc (365) dly y€ar, aid sn Inrcr.st Pcriod of six (6) months, subjccl to the following: (a) tha above ratc is givcn for informatio[ purposcr only; {b) thc .bovc ralc is cllculalad on lhc basis thd: (i) (iD drawdown oflhc Facility ir in frrll on thc Signitl8 D.tq no DrawdowD mldc avail.blc to rhc Borowcr vill brar intcrcsi on thc floating ratc; .nd (iiD lhc fixcd rsrc for thc duElion of lh. facility should bc cqusl to onc point cighly scvcn p.r cd (l.8rdl.); (c) lhc rbovc rat? takcs into accounl lhc commission! lrd costs psysblc by thc Borowcr undcr lhis Agrccmcnt, assuming that such conunissions 8nd costs will rernain fixod and will apply un(il lhc cxpiry ofthc rcrm ofthi! Agrrcriltrt. MARKET DISRUPTION (r) If . Mrrkcl Disruplion Ev.or lllccts thc inr..tanl rrlsrkd in thc Eurozonc lnd it is impossiblc to ddcrminc rhc applicrblc EURIBOR for rhc rclcvlnl Intcrcst pcriod, rhc Lcndcr shrllinfonh thc Bonowcr wilhout dclay. (b) Upon tha occuicncc of thc cvctl dcsc.ibrxt in puaSrsph (r) rbow, thc aDDlicablc lntcrcst _ ' Rale for lhc rdcvant Irlarcst Pcriod will bc thc sum of (i) (ii) ( lit thc Morgiq 8nd thc pcrccntage rllc par snnlln corrspording to thc cost to thc Land.t of fundiDg thc Drdwdo\rn from whatcv.r source it may rEesonably aclacl. Such rrtc shrll ba notificd lo thc Bonowcr as soon as polaiblc and, in any cssc, prior lo thc PayEcnt Datc for i aacst owcd urdcr thc rclcvent lntcrlsl pcliod. 10 74 6, FEES 6.1 commitmcnt fecs From Fabruary Isq 2019 onwards, thc Borrowcr shall five Pcr ccnl (0.5olo) pcr annum' zcro pay to thc t,cnd a conmitmcnt fe' of poi 6bovc on lhc amou of lhe The comnutmcnt fcr shall bc compulcd at thc ratc spccified of for thc aitual numbct of &ys claPscd incressed by.thelmounr pending Drawoown any wilh ".*rtcd r*de availablcby the Lcnder in accordance ii"-or,rao*n toL i*ril-ii.'i:Jii Rcqu€st. l.sll pdiod Aom (t) Thc first conmitrncnt fce shall bc calcul'tcd for lh' J*ru.3ry?019 (includ'd) subscqucnt Payment Dttc . fr"ifrlJi rp i" ftU the i,nmcdialcly-torfollowing . mmiimcnr fees shall bc cslculatco paio& commcrring on lhc day immediatety ;iiil:#!";;;;," r,""[a"Ji ""a ""ai"e on thc ncxr Pavmenr Date (included)' Theaccruedcofiunilmentfccshallbepay.ble(i)oncachPayme-Daicwilhiothe last dav ofrhe Drawdown Period: ii,,,liiiri" p"iilaf iiii on the Pavmant Daieiollowing thefirll' on thc Pavmcnr Dare follou/ing I#lilii i:d"':;;il;;u, "url b'"ait it t'n""rlcdin rhc eifcctivc datc of such canccllalion Appraisal Fcc 6.2 (90) calendar days aftcr thc SiSning Datc' lhe Prior to $e Dmv,/down and no latcr than nin'tv poinr five per ccnl (0 5%) c2lculaled Borrowg shalt pay lo lhe Lcnder an apprasal icc oizcro on lhe nDximum amount ofthc Facility' REPAYMENT 1. Followine oxDiry of lhc Grac! Peiod, thc Bonower shall ffi",IiT? repay t[e Llnder the principal ;:'itl'ifi tJ"i v-ii*i tisl "q*r *'i-annual i$talmcnts' duc and pavable on €ach Paymenl Date. The firsl instalm€ shall b€ due and Payablc on Fcbruary shsll be due and payablc on August 16"' l6'h' 2025 6nd thc lasl inslalmcnt 2038 dclivcr lo the Bofiower an amorlisation At thc end of lhe Drawdown Pcriod, thc trndcr shall pore ial canc'llation Facilitv taiins into accou ' irapplicablc' anv il;;l;'ir;;;;;;iic s'4 (cancerration andor ilonower) the bv ri: r6-""rr"ion lii'tlilJii,iii'il,;;iio'cr.,.L by lhe Lender). 8. PREPAYMENT AND CANCELLATION 8.1 Voluntarv prcpavment TheBorrow€rshallmlbccitlEdtopr€payftewholc-oranypariof$eFacilitypriortothe irp,ii., J"t" ii" *, tlo) v.ar pcriod starting on thc signing Dalc' Asfromthcdalcref.f,Edrointhepfeviousparagraph,ihcBorrowerrnayprepayrhewholcor condiliors: anv pan otthe facifiry, subjecr lo ihe following .$ (a) theBonowcrshallnotifythcL€ndc'ofitsintentionlopre,aybyDollassthanlhiny(30) prcPavment date: (b) lhcamounttobeprepsidshrllbccqualrooncorscvcralinstalment(s)inprincipal; il;:.;;;"il;;;d irrcvocablc notice prior ro rhe contemplatcd 11 75 (c) thc oontcrphtcd prEpayrlcd dalc ahlll bc a PrynEot Daic; (d) rll pr.prymcnt. shtll bc m.dc ro8c$cr *ith lhc poyElcnt of ecsu.d iitqtsr, any fccs, indcmnilics ud rclstcd cosls in conDcction with tha pr.paid smoufl !3 plovid.d udcr thi5 AgEcmcnl; (c) lhcrc is no oot{lnding uryail amount; .nd (0 in osc of a 1un pftprymaot, thc Borrovar shrll blvc gv6r cvidctlcq sxirflotory lo thc Lrodcr, thlt il ha3 $fticient conrnincd funding rvailablc for thc purposc of finlrlcio8 dlc Program. On $c PaylrEnr D.lc otr which rhc pr?aFlcnt is mrdq rhc Bonowcr !h.ll pry thc full amounl of tha Prlplyncnt lDdcnutitias duc lrd psyablc puasusnt to Clau& 9.3 (Pnryrn nl lddednityl. Mrndatorv orcpavmcrl Thc BoIrowcr shlll irnrncdisr.ly pr@y thc wholc or pan of lhc Feility upon rcc.ipt of s nolica from thc Lcrd6 informing tha Bonowcr ofany of 6c followiry cvctrti: (a) !!&ge.liu: ir bc..m.s unlavful for thc [,.rdcr pur$rnt to its appliclblc law to pcrfolm rny of ils obligations !s contcmphtcd by thi$ AgrElrncnI o.lo fund or nai ain thc Facility; (b) Addilion l Costs: thc lmount of sny AdditioDsl Cost! .rfqrcd !o in Clsl..r* 9.5 (,lddilionol CorrJ) b siFificant snd thc BoEow.r h.3 r.firscd to ply such Additioml Co$s; (c) Dgftu!!: thc t ndcr dcclarcs an Evcnt of Dcfault in accordencc with CLwc 13 (Evenls oJ Dctauht). h thc c.sc of llch of thc qwnrs spccifi.d in p.nttrphs (a), O) lnd (c) sbovc, lhc L.rd.t rcscn&s lhc ri8ht, aftar havin8 nolificd tha Borrowrr in writing, to ara'rilc ils right! as r crcdilor in (lr. llunnc, spccifi.d iir pangnph (b) of Chosc 13.2 (Ac:c.hration). 8.3 Cancrllalioo bv Uc Bolrowcr Prior to thc Daadlinc for Drawdown, tltc Borrcwcr rtay c$ccl thc wholc or any pan of thc Availrblc Crcdit by giving thc L.rdcr r thrEc (3) Busines Days' prior rlotic.. Upon rcccipt ofsuch noticc ofcaiccll.lion, thc lrrdcr shall cincal lhc lBrount oolificd by $c Bonowct. 8.4 Cancallation bv lhc lrndar Thc Availabl. Crcdit shall bc irunrdisrcly clnctllcd upon dclivay of. norioc to th. Bonowa which sh6ll bc imrndislcly cflcclivc, il (a) lhc Availrblc CrEdil is nol equal to 2ao on thc DcsdliD. for Drawdown; (b) lhc Drawdo*o h.s nol ocounEd on lic aapiry datc of I founcao (14) slonlh pcriod fiom appmval of hc Facility by thc compctcr{ orglns of thc lrrdc., rs m.ntiorcd in pangraph (C) ofrh. Rccitrls; (c) an Evcnl of Dcfaull har occurrcd and ir conlinuint; or (d) an cvcnl rcfarrcd lo in Clausa t.2 (Mondotory prepayncnt) ha3 occund; 12 76 dc.Dtwhcrc.inrhc.as.ofPadgnPhs(!)Ed(b)ofthis.clal,r6c8.4(cancellalionbylhc -ro G'c6ar'c for Dnwdown or tt,c d'adlinc ror dp"k **itions which will !!ply to trc Drawdown ii"iia"*" ,r," ui"i" or n"* i'n"i"iahas on lhc proposition' agl "" arnd thc Bono'*o iiialJ,il i*l"ii.-C'"a'd ['ti# ;#;ilil;;-l"t t 8.5 R€slridions lhfu Clau!€ 8 purtusnt(a) Any noticc of pt+aymcnr o' canccll'hon gvA bylna.1 Pltty -toproYidcd in rhis ot.r*iT ud& tpfemn nt ond canctlrr,rnl "*iil;-iiifuti., ff#;qai;siJ ;; $c rclcvrnt prcptvm"t *itt tpt"'rv u' a"t" o' dst's on whichclrEcllatidr' 1""#*jirliii'ii" l" ""dc lnd thc rnoutt of thsl prcplvrncr or lhc lim6 cxccPt or canccl all or any psrt of thr Facility {hl Thc Bonowcr shall not Prcpay 'l inii" *-". op,es"ty providcd for in this Agrrcmcnt' (c) and shlll bc rEdc logcthct wilh Ptyflic of(i) acrru€d Any Dr.pay.rEnt undd thir Agft"nd (iii) tt'" Preplym' lndcmnitv r"ts' inteftst on thc pr@aid .rrcunt, ttii-oul*dilrg "id iiii io i" cri*i s l (Prepvncn l*lconitv't vlott ' J (d) Atly pr€paymcnt amour *ilt bc rpPlicd sg'itrst thr rctntininS insirrlm'i|ts in invcrsc ordcr of naturity. (e) The Bonowcr may ml rc-bonow the whole o' stly p8rl of thc Frcility which has beln PrcPaid or canccllcd' 9, ADDTTONAL PAYMENT OBLIGATIONS 9.1 Cosls rnd cxpcnsei iill';H:,TlHitif,:i;:lBffi fl :J.m'i!.ti[{ffi:lill'ilili},,l"i "',x;ffi lo' t"as;;;;;J c.s$ (includhg lcgal fccs), i.prii"g *r,['ui t"qukttnc cvsluatin& ncSotiating or in rcsPonding Botmwci' lDd ;hich mighl bc bomc by lhc ",,:"#$"Xll jifl'Jmi*S]f"Hffil"fffiJ,fffi:"i'#lf^ffi*f '' 9.2 Canccllsiionlndcnmitv wirh' thc tcnns of Clauscs 83 prnsraphs (a)' (b) pan in lf thc Facility is caoccllcd in full or inzTiiiriiitii, 'cclrdsncc w ae .Jlr" Inir"i,i 4,Ac.r) p"ct'rt tconc. otion by th. Borrr*,1 coBputcd at two point livc lracn|niiy p"v . rnd lc,r. thc Bonowcr shal ii,i'i.i irt" -*at"a arpuor of thc Frcilitv' "i Eachcanccllstionindfimitysh.llbcducatdPsysblconthcPaymcntDatcimrn.di.lcly of8il or pert oflhc F cilitv' tiio*ini, ""'""lr"ti* 9.3 PrcDavmcntlndcmnitv On accol'|tlt oftny loss6 suff<cd ofthc wholc or uii.8.t protini,y p,cpv,nenr1 ulo tz the p"y lo th' L'fld'r 8n indtrordrv 'qual by thc Lcrder as a r6ultlflhc'Pr'Paymcnt .oot"[ iii-'c]i snv old of thc Facitiry i" (iandorory prcpoynenO' o" aggrcgatc amounl of: - AN il'ii-- 'rt"ii thc PEpaym€nt Compcns0bry Ldcmrity; and 13 i, .l -1 n - any costs arising oul of thc brlak of rny intcrcst hcdging rwaP [rtBrctions pul in placr by thc Lnd.r in connaclion with tbc aliDud pr@rid. 9.4 Ta(cs and duli6 9.4.1 Rcgislrationcosls Thc Borrowcr shrll pay dirrctly, or, ifapplicrblc, Eimbulsc ihc kadcr in c.sc ofln advancc mrdc by thc lrndcr, thc cosB ofall stamp duly, rcSislr.tion .nd olhrf silhils. laxca paysblc in rcspcct of thc ASrccrncot snd any polcntial .mcDdrl. l thcrcto. 9.4.2 Vr'iGholding Tar Thc Bonowc. uodcrl.lcs lhal lll paymants mrdc lo thc lrndcr undcr lhi! Agrcrmc shall bc frcc olany Withholding T!x. If a WilhholdinS Tax is rcquircd by law, lhc Borlowcl undcrrak6 lo gross-uP thc amounl of any such psymcnl to such ,rnolrnt which lcav6 lh. lrndcr with an atnount cqual to thc plyrncnt *hich would hlvc bccn duc if no p.ymc of wid$olding Tax had b€ln rcquircd. The Borrowcr shall rcirnbursc to thc Lcndcr all avcnlcs and/oa Trxas fot lhc Borrowcr's accou which havc brlo paid by thc Lcndcr (if applicablc), with lh. cxccplion of any Tar6 due in F ancc 9.5 AddilionalCosls 9.5.1 tn lhis Clausc, "Addltlon.l Co.tt" rnrsns: (i) any clst arisiDg anc. thc Sigring Dal. out ofonc oft[c cvcnl rcfccrcd lo in Pqragrlph (ii) any rcduction of any amount duc lnd Pryrblc undcr lhis Agrccmdlt: 9.5.2 below and not tat.o into sccount by tie lrndcr to compulc thc lmancial condilions of(hc Fncilily; or which is incured by lhc Lcndcr as a rcsult of (i) ,'Bkng thc Facility svailablc to thc Borover o, (ii) cnlcring into or pcrforming its obliSalions urdc, thc A8,camcnt. 9.5.2 lf thc Lcnder incurs aoy AddilioMl Cost as a rcsdt oi (i) lhc coming into forc! of6ny nex/ law or rcgulstion, or any smcndmqnt to, or any changa in thc intcrprdation or applicalion of 6ny cxisli[g lrw or rrgulation; or (ii) c.mpli.ncc with any law or rcellation made 8ftar thc Siping fhlc and intcnds to rcqucst il3 Plymcnt by lhc Ltodcr shall notify such rrqu6l to lhc BonDwcr ((hc "Ladct's Bonowcr, 6! Notic.") 9.5.3 Folloving lhr [rnd.r's Noticr, thc Borronct snd thc Loder shsll cntcr into I conslltation p6iod oflcn (10) Bu3in6s Drys in ordcr lo cvrlualc thc rmount of thc rclcvant AdditioDrl Cosls and lo lind thc dccision on payncnt of 6uch costs suilabla for bolh Panies. If so r.qucsl.d by thc BorEw.r, thc Lcndcr sh.ll providc thc Borrowcr with crplsMlory documcnls relalcd to thc Additional Costs objcct of thc Lrndcr's Notict. lf lhc Prnias fail to rcach m agrE tncnt following thc consultalion pcriod, lhc Borrowcr shrll nolify thc Llndcr it! rsfus.l lo Ply lhc Additionsl Costs within lwcnty (20) Busincss Dayi following thc rrccption of thc lsrdcr's Nolicc. - .t\ 78 9.6 Cuncltcv indcrnnitv judgmc or,6w!td givcn lf sny rum dua by thc Bonovcr undd thi' Agrc'mcnt, ot my odcr' curcrry in which thtl sum is oi #aiin t"r.ti6n ro ,rch a surq hrs ro bc conv'itcd &om thc pdyabl. into oiothcr cunlrrcy, for lhc putpooc of: (i) (iD mrking or filing . cbim ot ProofrSeing thc Borrowcr; or obbining or anforcinS an ord6' judgmdt ot twrtd in rclation lo 'ny litiSrtion or srtitrttion Proc"dings' thcBorrowd.heltirdG'ntriryth.[,idc.ss.ilstend.withintfutc(3)Busin6sDaysoflhc loss or ; 6iucd uv law' pav ro thc [srd'r- th' arlro-'t of rnvssl' ;;;;;;;;ii (A) bctwccn: .'as a rcsut orrrc convcrsion idudiDg 6ny dirsrcponcy rr.tLfi,y ",ltl"i ""i usrd "f to convctl lh' rcl'v'nt lum from thc firsl cutcncy lo thc sccond if,i #f,-g.-t"t" lo thc l'ctd'c lt thc t rc of il3 rtccipt ,h" *"h"n8" ralc ot 6t{s) uia 'Yail'bl' ofsly otrct obliga onof is indlpcodcnt "r"tt i; tg) tjunacr ti inaanniry oi,lri-ii^ rriit "uriertion thc Bonorvq uodar this A8rc.m6ll' juridiction to psy my anDurt duc undcr Thc Bonowd waiv6 .!ly riSht it mry htvc itt any thrn that in which il is cxprcsscd to bc this Agtccmcnt in a orntncy or cuntncy unit othcr payabl!. 9.7 Du. det.s anv indcrnniiv ot rcitnbulscmcnt psy'blc by thc Bono\f,'r lo thc Lddct und'r lhis Darc imrncdirtcrv o;fi*ii,,,i ii a'" and pavabrc on $c Psvmcnt indcmnirv or rel'vs *ni"t tt"" g,vcn risc to rhc Clausr 9 ;:ir;;:;;f;L;;;; i;ffiff',iJ, ;il;u,i;o tcimbur$fiEnt. Notlxitllstrlrdint thc rbovc, soy indcrnnity lo br Paid.in cofl'ction :1ll -!"prcp'ymcil pzlablc on lhc datc of thc rclcvr (p,qPry" hd'nnit!\ is dw pur.r-t ro Cf.i"" C.l ',lId Prcpaymcnt. IO. REPNESEMATIONS AND WANRANTIES aft A rh. rrrrr:s.r Arions and warranriaa sa( out in lhis clausa l0 (xep.a'cnrations and t/,arronliesl and f"t-,t . u"*in J,r," r-at on lhe E'fcctivc Datc All thc Ep'lsenratio$ ;;'IJl;";ff; bv thc ro ti ti liii**,,o'io* onit warronti's) te atso dtdncd ;;;;;';";;&; -rnadc 4 schcdulc lt Patt of in ;il;;;; il il;;" *ii"li of lh" conditions prcccdcnt lislcd Dal' on thc Drawdown idiriirii* rr"ii"l ,* sstisficd,"tton thc dttc of thc Dnedou/n Rcqu6l' conhitud in clsusc l0 e (/vo rcp'ating rcpr*'otatio* :;;';';;;;b;;;;a,hr, ";;r;;;;;';;;;;;";;; d;; i" thc* r'aac tv thc Borrowct in. rErarion to rhc inrormarion was la{ m!dc_ providcd b-y thc Borrowcr sincc thc datc on which $c rrPrcsantltron l0.l Pow.. 6nd aulhoritY ThcBorrow.'hasthcpowcrtocnlc'into,pcrformanddcliY.fthisAgr..mcnte,dtopcrform ils .['-"i".pf.r.a "urip:,ions Tlrc Bononcr has takcn 'll ncclsslry rdion to authoris' cntry i o, pcrfomanc€ and dcliv'ry of ftis AgrltrncDl' lO.2 validitv and ldmissibililv in cvidcoc' All Aulhotis.tions rcquiEd: (a) ro co.blc thc Borlowc' to hwfully cntcr into' oad cxctcisc obligations und.r this Agrccrnent; end 15 its rights 'nd .,4 c'mply wilh ils 79 (b) to nukc this Agrcrmant admissiblc in cvidcncc in thc coutu of thc jurisdiclion of lh. Bororrar or in arbitration prccc.dinp rt dcfincd udct Claus. 17 lcovrving Inw, Enlorccneht dnd Choica of Dodicilc), havc bcan otraincd ad at! in full forcc md cffcct, and iro citrur8tanc6 cxist which cluld nsult in thc Evocadoq non-Iroarrd or rDodificatioq in wholc or in pan, of any such Authorisrtior$. r0.l Bindins oblierriora Thc obligalions cxprcsscd to bc rlsumcd by thc Borro*ar urdcl this Agrc.Irt. I crnply wilh sll lows snd rcgulations applicablc to rhc Bottow.t in iE jurisdidion 8nd aE lcgal, v!li4 orc..ble obligstions which arr cff.ctivc ill accordarrcc rvith lhck writl.n binding 6nd c lcfmt, I0.4 No filipc or $smo tares Undcr lhc laws of tbe iuisdiclion of incorporstion oflbc Borou/.r, it b nol rr.cGslly thal lhit Agrcamcnt bc filcd, rccordcd or .ll,gllcd rvidl my coun or othd lu0brity in thal jurisdiction or lhrt any stamp, rcgisEation or similsr tlrB or fccs bc peid otr or iD rclatioo lo this AgrEandrt or lhe trangctions canlcEphtcd thcrrin. t0.5 Transfaa of funds All amounB duc by thc BoEowcr to thq lardGr utrdcr lhis Agrcrmcot whdhca as priircipal ot intcr6t, lalc paymcnl intcrrst, Prcpaymcnl tdcmnily, ircida sl cosb and cxpsrscs or sny olhcr rum arE frEcly convcniblc snd lralltfcrablc. This rcpEscitalion shlll nrnain i! full forcc lnd crf6t uflil full ttTaymeot of.ll suth! du. to lhc lrndcr. In lhc cv6n that thc rrpaymcol dal.. of thc Facility 8rc crtddcd by lhc Lcndcr, no frlrlhcr confirmrtio, of$ir acpftsa alion shlll bc nccaastry. Thc Bonrrwcl shall obtain Euros ncccssary for compliancc lvilh lhis rcprlser stion in duc couIsc. t0.6 No conflict with othcr oblications ThG cntry into snd plrfonn ncc by ftc Bonowcr of, ad thc lrd[aclions coDtctrplatcd by, lhis Agrcancnt do nol clnflicr *ith .ay dom.slic ot forciSn l8w or tcgulation applic{bl. to it, its conslitutional docurEnts (or any similst docurnanls) or rny 8gftanE or instsurncnt birdhg upon lhc Borrowcr or affccting 8ny of its rsrds. 10.7 Govcmine Lrw and Enfotc!,ncnt (.) Thc choica of Frcnch hw t! lhc govcrning lerv of lhir ASrccrncdt rYill bc Ecogniscd .nd cnforccd by thc couns rnd a$ilration triburEls in thc j urisdiction ofthc Bonower. (b) Any judgmcnt obtaincd in rclalion to thi! Aglclmcfll in a Frcncb court or ary sword by an arbitralion tribuMl will bc rccogniscd and cnforccd in thc jurisdiction of the Borowcr. 10.8 No Dcfault No Evcnt of Dchult is continuing or is .r.soBbly likcly ao occur. -tN 16 &.tt4 80 No brcaoh of lhe BorIowa[ i8 contituint in rchdon lo sny othcr lgrcclncnt binding upon it' or afrccti!8 eny of its lssots, which ha3, or i3 rcasonsbly likcly to h!vc, a M.lcrisl Advcr$ Efrcct. Io.e Ne.!!idEC!!s.bfe@4!e4 All inforrBlion ard docurnads iuppli.d by tlE Botrov6 to lhc lsrdcI wctl lruq sccurlla ard upladltc !s at thc dltr thcy Yctt providGd or, if .ppt'oprislq is st thc dllc el which thcy arc slrtcd lo bc 8ivco lrd hrvc not bcdr vtlic4 .rvolrc4 clncdlcd or rE lcw.d on rlvi!€d tarlna, aod arc nol mislcadiry in any rEtctial r6Pact t! a t6ult of aD oftissiorL lhc occ1lrleoca ofngw circolnstallcca or thc disclocurc or noniisclosuc ofsny information. 10.10 lsril!!s-B!!!lEg Thc Bonowct's payrnart obligations uldcr this Agr..ricot nnt st l.ast Pati Past! wifi thc cleims ofrll its othd unsaclrnd 6nd u$ubordiortad ctlditors. lO.l I Oririn offirnds. Ad! ofcoruotiorl Fnud ard Anli{omDailivc Practic6 Thc Borrowa r@aqdtls rnd vatrsnls lhal: (i) thc funds us.d for lhc imPl.mcntltion of lhr Prcgranl olhcr ihan lhosc prcvidcd by th. Slna, at! rot oflllicit Oigin; (iD thc P.ogr.m ha3 not Sivctt isc to my Act of Coruptioq Frsud or A iComPctitivc Prscticc. 10.12 No Mlt ri.l Advrrs. Elf.ct Thc Borrowcr rr?rcsaats aid w.nant5 that Do cvart 6 citqtrnstama vhich is likaly lo havc Mrterirl Advr6c ElTGct has o..unEd ot is likcly to ocrur. ! I. ! I.'NDERTAKINGS Thc undcrtakingr in lhis Cl.usc I I (Urdetla&;rtr) tslc cfr.ct on thc Elfccdvc Datc rnd rc.n in in full forc! and effcct for as long as any amounl b oulslardinS undcr lhis Agccmcnt. ll.l@ Th. Bono$cr sh.U c.tply (a) in all rrsp€cts with all laws 8nd twulstio.ls to which it andor lhc Progrsm is subjccl' panicul.rly in rclalion to all appliclblc Procurcmcnl, cnvircnntntrl Ptotcclion, ssf€ly and labour hws; and (b) II with all of it. obliSations und6 thi. Agrclrncnt. .2 As!bori!s!i$6 Tbc Bonowcr shall pronrptly obt.in, comPly with .d do rll lhat is n.atsstry to .rainlain in full forca and cffccl sny Aulhorilation rcquitcd undcr any aPplicablc law or ragulalion lo cnablc it to pcrform its oblig.tions undcr lhis Agrcrrncnl ard to cosurc thcir lcgality. validity, enforqability ard sdmissibility in cvidctrc ofthfu Agtr.m.flt. I1,3 Impl.dEnlation snd h6crvadort ofttc Ptogant The Boflowc. shall: 8l (i) implcrnc thc ProSram in accordancc with thc g.ocmlly acccptcd safety principlas snd ir accordancc with t.chnicll standards in forcc; and (i0 mainlain the Prcgram asscts in accordancc with all applicable laws and regulatio$ and in good opcrating and mainlcnarcc conditio'ls, and usc such assets in compliancc with thcir purposc and sll applicable la*s and rcguladons. I1.4 Environmental and Social Responsibilitv I 1.4,I Implcmentation of cnvironmental and social measures In ordcr lo promotc sustainablc dcvclopmcnt, the Panies agrec that it is n.cessary to promote compliancc \rilh internalionally recognis.d envirc nental ond lsbour standards, includiog fundamcntal convc ions of thc Intcmalional hbour Organization ("ILO) and the intcmationsl cnviromental laws and rtgulation6 applicablc in thc Borowea's jurisdiction. The Envirotunental snd Social Syslcm Asscssmcnt (ESSA) of thc Program will be scnr for review by AFD. I I .4.2 Environmental and social gricvance management (a) The Borrower (i) clnfirms rhat it has reccivcd a copy of the ES Grievan@ Mlmgcmcnt Proccdures and has ackno*ladgcd its tcms, in paflicular with rcspect to actions that may be taken by thc l.ndcr in the cvcnt thal a third paiy lodges a grier"ncc, and (ii) acknowlcdges that lhc ES Grievance Managcmc Proccdurcs have, as b€twcen the BoEower and the Lcndcr, the same contractually bindjng effact as lhis Agrcerncnl. (b) Thc Borrowd expressly aulhorises tlle Lcndcr to disclose to thc Expcrts (as dcfined in the ES Cricvancc Managemcnt Procedurcs) and to panics inrolved in thc complianc€ audit and/or dispule rasoluiion Focedure, thc Prcgram documc s conccrni[g envirotuncnlol and social maltcm necosary for processing the cnvironmcntal and social Grievance (es defined in thc ES Gricvance Managemcn! Proccdurcs), includin& without limitation, thosc lisred in Schedule 7 (/Vor-enl,a6riw litt ol ehvirorwentol and sociol doatmenls which lhe Borrowr permils lo be discloted in connection with ES Gieyonce managenent procedurcs). I L5 Pari Passu Rankine The Borrower und€nakes (i) lo ensure that its paymant obligations undcr this Agrecment rank al all limcs at least pari pa$ll with its other prcsent and future uns€culd and unsubordinated paymenl obligations; (ii) not ro grsnt prior ranking or guaBntees to any othcr )endcn cxxpt if the same mnking or guaftmtc.s are ganl€d by the Borrower in favou! of thc Lender, if so requ6tcd by thc lrndc.. ll.6 Monitorinc Missions aod lnsocdions ll.6.l The Bolrow6 hereby aulhorizcs lhe Lcnd6 and its rcpresentativ€s to crry out monitoring missions, lhc pupose of which will be lo asscss the implcmcntation of thc Pro$am on lcahricsl, financial and institutional aspccts. Thc Borrowcr shall co-opemte ard prcvidc all rcasonablc assistance and infonrution lo the L€nder and its rep.€sentatives whcr! caEying out such monirodng the timing 6nd format of which sball be ddermhcd by lhe knder following consultation with the Borrower- ll.6.2 lfa significa problem is identificd rcgarding the implcmcntation ofthc Program, ard thc lrndcr i0tcnds lo cary-on an additional insp€ation out of scopc of its slardard 82 rnoniloring missions, tbc t ndcr sh.ll notiry such rcqucst to lh' Bonowcr "lrndci't lnspoction Noticc'). (thc lhc timing lnd forEul of-such irupcclion f;[o*ing coDsutt tion with thc Borm*6 such c'nsullation Dc.iod shall nor cxcccd tw.t y (20) Busin sr Days. Ttc Bonow.. rhall c+opcnlc alrd providc all rcarornblc essislrlEt 8nd inftrnration to lha Lrn&t snd ils rcpr6a,lt{iv's whcn c.arrying out such iBpcrrior\ lnd ihall teimbu6c to thc lrndcr for lll costs rc..onably inorrrcd by thc Llnd€t in rcspcct of e rn xirum of onc inspcction p'i I 1.6.3 Follorying thc Lcndd's Insp.ction Noticc, thc t-.lldcr shsu dd"minc y.,a. I 1.6.4 Thc Bonowct shall rdairl rrd makc for motlloring missions and inspcctio by th' lrndcr, sll docurncnts rclaling to thc.xpcnscs of thc Progr'm for 8 pctiod ollcn (10) y.a6 iom lhc dtt. of fi. I.st Dnwdolrn und.r thc Facility' I l.? Pmearn Evaluation Thc Borowca acknowlcdgcs thal lhc Laidcr msy qrry oul, or procurc tlut r lhird Pany ceni6 oul on its bchatf, an evaluation ofthc Prognm. This cvalualion rvill bc uscd to producc o"rfora"*" rcDon includinr inforrmtion oo thc Progllm, such !s: tolal amounl and "duttion of thc Faiiljly,-ofobjcclivc! of $e Prcgr.n cxpcclcd aod aclual pcrfonnancc of-rhe its .ttcrarrc, cfficiatlcy, inpact and viabilily/sustainability Thc Progr.rn, asscssmant Bofrwcr agrtcs on thc publicstion of lhis P('forrrEicc rlpolt, in Paiticulsr' on thc L!'dcr's Wcb3itc. II.8 Pro6.m Liplcmcntation Thc Bonowcr shall: (i) cnsurc lhll .ny Plfson, SrouP or cnlily p.nicipating in thc inplcmclrtdion of (ii) nol fuuncc any euPplics or scctors which are subj.cl lo an Embaryo by lhc thc Prognm is'not lisrca on any Finarcial SaDcrions Lis (including in partiqJt thc fi8bt rgailr* l.norist fint cing); tnd Unitcd Nations, thc EuroPcan Union or Frarlcc' lL9 Oriqin of funds. no Act! ofcoruDtion. Fraud or Anti€omoclitivc PrscIic6 Thc Bonowcr undcnakls: (i) ro crEurc thlt 0rc funds, oth.r th.n lhosc of Statc origin, uscd for lhc implcmcntation ofthc ProgBmwill not be ofln Illicil oriSin: (ii) to .niulE that fic Progr.m shell not Sivc risc to 8ny Act of Conuption' Fraud or Anli-Compctitivc Practica; (iii) rs s@n as it Eomaa swart ofi or susPccts, 8ny Ac, of Co[uption' F rud or Anti{omp.titivc Prrclic!, to inform rc lrnd.r withoul tny dcley; (iv) in thc cvcnt rcfctr.d to in psEgraph (iii) rbove, or al thc lrndcr's rcqle$ if (iii) havc occuirld, taLc all ncca$sary aclions to ,ltncdy thc siluation in I rnalullt sstisfactory lo thc Lqdcr ard within thc tiric pdiod d.l€tmincd by lh' Lendcr; and thc Lqdcr susPccls lhst lhc acts or Praclic.s .cfcfltd to in paragraph r9 ,, ,,) -, ) 83 (v) (o noriry thc Lc.drr wilhou dcl.y if it hrs knowlcdgc of.ny infodn tioo which lcads il ro suspcct .ny lllicir origo of uri furdr;cd fo, dE impk ncntstion ofthc progrsm. 12. INFORMATIONI,'ITDERTAXINCS Thc undcrtakings in this ClarL* lZ (tnlor,rution LJnde akings) tak ctr(,/. oo thc Eficqiva Datc rDd rcrnaio in full forc. ard cffcct for as long !s any anrount is ouisllodiq urdc, thia AgEc;L l2.l Financisltnfonnation Tlc.Bono*.r shall srpply to thc l,.nd6 any informalion that thc L,ardc, mry r.alonsbly rcquirc in rElation to thc Bonowar's foEign snd dorncadc dabt !s wcll a3 thc itatu: of any guaBntccd losns. 12.2 Prosamlmplcmcnlrtioo Thc Borrowcr shrll supply to lhc lrrd6, promptly upon ftc Lcndcl,! ,!!lucsl, any information or supponing documa .egarding lhc program itiplcmantation. l2.l Additionallnforrulion The Bonowcr shall supply to thc Lrndcr: (a) (b) prolnptly upon bcalming awlrr of lhcrr\ ddrils of ary cvq or circunstlncc wbich is or may bc an Evcnt of Dcfauk or which har or may havc s Malcrial Advcri. Effcct, (hc nrturc of such an cvcnl snd all lhc actions tskcn or to bc takat lo rcrnedy it (ifany); promflly, da8ils ofany d.cision or cvcnt which rnjght affcct ih. orS.nisllioq complction or opcotion of the Program, 13. EVONTS OF DEFAULTS 13.I Evenrs ofDcfauh Each ofthc cvcnls or circurnslrnccs sct out in rhis Clalr.l3.l (Ewna, ofDefor.lt) b rnEyant ofDcfault. (a) P!)lE.nt Dcfilrlt Thc Bonow.r do€s not pry on lhc duc darc any amount payablc by if und., rhis Agrccmcnt in thc rl.nncr n4uirrd- undcr rhis A$crna t, Howcvcr, withoul prcjudicc to Clsusc 4.3 (Late pldent and delault i d!sl), m Evcnt of Dcfrult will occur undcr fiis Fngnph (r) ifsuch paym.ot is m.dc in full by lh. Borrcwcr rrithin fivc (5) Buincss Days of thc duc dalc. (b) Urd.rtrkirgr.!dObtig.doDr Th. Bonowcr docs not corply wilh any tcnn of thc Agrcrrrr , iocludiry, virhout limilstioq any of thc undc.t kings il h!! dvclt pursurnt io Chusc I I (Undertokingr) And C|nUsc l2 llalo no,ion Unde .kings). Srvc for thc undcrtakings givcn puGuant to ClaUAa ll.4 (Enironnentol ond Social Ziabili y), Clauscs ll.t (ptugmn tnpl.nentotion t atd |.g (OriEin of lunds, no Actt of Corruption, Fraud or /tnti-Compttitive proctices) io rcspcct-of *iich ,ro gracc p6iod is pcrmi(cd, no Evcn( of Dcfault will occur undcr this peragraph (b) if thc noncompliancc is capablc of rqncdy lnd is rcmcdicd *ithin fivc (5) Busincss bays of$c 8{ atd (B) lhc €arli.r of (A) lh. darc of th. t-t{dcr' norict of failuE to thc Botrowc( bv thc dricrmincd limir tlrc rimc rt'" urca"t', o' *irt'in no (orisi'I of tt (iv) ctzlutc fundt' of lo in tubpslasriPh '9 )ci o! Corrnption, Fraut or An'i-Cod?"itite Pracicas!. il;;;#;,;;;;;oi -L;;; ;;;;a; (c) MlrsDr.$rtrdo! a rcDrBcntstion or wsranty nrrdc by thc Bonow" in thc A8rrcmcnt' -including Dy dlllwrco ,nder Cl"usc l0 (kprescatotons ond nr"ro'{ieJ)' or ir 8rly docuncnt oio, t"tt iiorti" b"t-*ci undcf, or in Glation to lhc Agrccrncnl is incorccl or mislaadinS whcn mada or d4rncd to bc rntdc' (d) crc$ Dcfiult is not {il - subi.ct to Dar.ssph (ii), 8ny Finercial lndcbtedncss ofthc Bonovcr i; il; A,i o', liappiicautc witl'in tnv sract pdiod Srdnlad punuant io thc rrlcvent doolmcol|don' (ii) A caldiloa ha, ctnccllad or susP'rdcd its commitmcnt tor"rdt thc Finrnciel Indcbl'drcss' or hes dcclercd thc financial ;;i';; 'fi;;.*. il" and payablc prior lo its ryccificd nralurily' or cqucstcd ..1 in nrtl ofthc Finsrcial lndchcdnars, in cich cssq a5 a r'sull of "-.L L-'."*i dcfsuh or sny provision having a iimilar clT'ct (howsocvcr pursurnl to lhc tllqvlnl documcntalion' d6c.ibcd) "f riii) (d) if th' Elcv'nt No Evrflt of Dcfault will occur und" this clausc l3 l for Finsncisl fi*r"i"f Indcbtcdn6s or thc c'mmitmcnt rhrn l6s (ii) lbovc-is "-"i*-"li' iiiiu,"a.its i"Iing within ParaSnphs (i) and -fonv (ics)' cxtrcncy tiuil c0poO,inoforirs cquivalort in rny othct ;;il;; Bonowcr "tirii"^-g"r, (c) Unl.tvfolD.tt It is or bccom6 untrwful for lh. Bonoycr to Pcrform rny of its obligations uodcr this AgrEtmcn(. (f) M crlrl rdvatta ct$ga anv cvcnt (includinr r chlnge in thc polilic'l siturlion of lh' counlry of -S;;o*crl or is likcly lo lhe oi uny ..iurc which havc a Matcrisl AdYcGc EfTccl occurs (c) Aothorit doll with its thc Pro$rm is obliertiona undrf lhis Agtlrrnc or rcquircd in thc ordinary cours' of timc'fnmc ot is csnwllod or blcomcs invalid or Ary Authorisation rcquirrd for thc Bonowcr in ordq to pcrfotm or c'mply ;i"";i;iil';1,hil1;?uirpd othclwilc crasca to ba in full forcc ald cffcct' (h) JudfEenlt, ruthgt or drci.lo$ h'vilg ' Mltcrld Adv'rrc EIfcct d'cision afLcting lh! Anv iuderncd or atbitml .wad or any judicitl ot 'dministndvc Advcrse Eflect' o"uls or $ h6s ot is ,.*Brbly lik€ly, to havc Materisl e";*; ' lilcly to oclut (i) SutpcDlioo of frce coDYartltillty 'od frc' tr'l5frr 21 "-i 1 85 Frc. convc.ribilily and frla reosfcr of sny of thc rftounts duc by thc Bonow.! urd.. this Agrc.rn.ol, or lny othcr facility providcd by ihc Lcldcr lo tha Bonourcr or any oth.( bomwar of thcjurisdiction of thc Borowcr, i! chall.ogcd. r3.2 Accclcmtion On and al any tirnc aic. $c occuE ca of rn Evaot of Dafault, thc Landar riay, withoul providing any formal dansnd or conurcncioS lny judicill or cxtrs-judicill proc.adingr, by urritlco nolicc lo thc Bonowci (6) crnc.l lh. Availablc Crcdiq mdo. (b) dcclrrc lhat all or prn of thc Flcility, togEthcr wi& any acgucd or outltanding iotcrBt rnd sll olhcr arrlounli outst ndinS undcr thii Agrccmcnl, arc ncdiltcly duc !t!d p6yrblc. ii Wilhout prcjudicc lo thc abovq in thc cvcnl lhal an Ev€t of Dcfault occurs as act ot l in Clatsa l3.l (Eeenlr of De[o//r), the Laodcr rBcrvc6 thc righi to, upon writtci nolicc lo thc Bonowcr, (i) suspqrd o, postporc lhc Drawdovn u!d.. thc Facility: lndor (ii) susFd dlc finrlisalion of any lgErmads rclalirg to othcr possiblc finrncial orlfl which hrw baan notificd by thc Lcnd6 to thc Borrow6; rnd/or (iii) su$cnd or poslponc sny drawdown und.r any loan a8rclnranl cfltcrrd 13.3 i o bclwccn thc Bono*cr aod tha [,cDdcr. Notification ofsn Evai ofDcfaull In .ccordancc with Clsusc 12.1(Additiodal l4orrnari,rr), the BoEowc. shlll promptly noti& thc nder uFrcn bccoming lwarr of any cvcnt which is or is likcly to b€ sn Evcnt of Dcfeuh end inform lhc Lcndo of rll lhc rncasuras clrnqnplatcd by thc Borowcr lo rqrcdy ii. t t4, ADMINISTMTION OF THE FACTLITY t4.t Pavmcnls All paymcnG r.cciv.d by thc Lrrdcr und.r this Agrr.m.ot shall bc appli.d tovrrds thc paymcnt of cxpcns6, fccs, intcrEsl, principll lmotmts or any othcr rum duc undcr this Agrce'n nl in rhc following oda: l) incidcnlal costs and rr(pcnscs; 2) fc6; 3) 4) 5) latc-paymenl iDl.rcsr ard d.foult intcr6t: acclud intc&st; principslrcpayrEntr. Any prymcnrs rcccivcd from thc Borow.r shrll bc lpplicd first in or towards paymcnl ofany sums duc ,nd plyrblc und6 thc Flcility or uEdG, othar lo.rn cxt {dcd by tha Lndcr to lhc Borrowcr. should it bc in thc Lcndar'r intqlst to spply th6c iums to such othc( loans, in th. ordcr sq oul above. 14.2 Sg:dI Withoul prior.pproval of lhc Bonowcr, thc Lcndc. msy, sl any timc, scl{ff duc and payablc obli8adons owcd by th. Borowcr against arly arnour s hcld by thc kndcr on b.hllf of thc Borm*cr or any duc and payablc oblig.tions o*cd by rhc L.od.r to thc Bonowcr. lf the .,r) 22 86 obligations arr in dif&rlr cunaoi6, tbc l..rd(, rnay convcrl ci6ct obligrtioD prEv'.ilin8 currlrrcy crchangc for lhe Puposc ofthr sar-off. tl thc 'rtc All paymont! madc by thc Borrowcr undcr thc Agrcrmrrf slull be cdlculstcd and madc without s.r{fr. Thc Borowcr is prohibitcd frorn [utin8 my sa-off. 14.3 Busincss Dlvs lf r payrn.flt i! du. oD ! day nhich ir ool . Busin6r Dry, thc du. drle for thal paymc sh.ll bc lhc nart Busincss Day if rhc naxl Busincss Day i! in tllc samc calcodar moolh, or lhc prccadinS Busincss Day ifthc nart BuJinast Dsy is nol in lhe sslnr cllardar rbnlh. Doring any cxtcnsion of thc Psytncot Dltc for a prirEipal or unpsid aElounl undc, this Agraarlc , i ar6t shall ba poyablc oD thlt amout dudng lhc cxtrn5ion pariod at tlrc l"lc .pplicablc on thc oriSiml Paym.nt Dtlc. 14.4 Cuncicv of olvmqrl Thc crrrrt'rcy of cagh amount pafablc undar lhis Agt!.mcnl is Eurcs, cxc.pt es providcd in Clans. l 4.6 (Place of paytncn l. 14.5 Dav count convcntion Any int.llst, fc. o! cxpcnsc accruing undcr this Agrc.mc vill bc calculatod on thc bssis of thc adual nurnb.r of days clapscd rnd a ytar of thrcc hundrcd 8nd .ixty (360) days in sccoadancr with Europcan it qbank rnr*ct rrEcticr. 14.6 Plscc of psvmmt (a) Any fund! to bc Iratuf.EEd by thc Llidcr lo th. Borr,orrc. uDdcr lhc Facility will bc paid io thc Bonowc.'s Ac.ount or .try othcr accounl sp.cificllly dcsignstcd for such purposc by thc Borrow6, providcd lhsl thc Lad(, has givcn its priot cons6* on lhc sclcctcd b8nk. (b) Thc Borrowci shall poy dircaly or, if applicrblc, rcimburlr thc L,Gtdr. in ca5. ofrn ldvrnce mrdc by thc L.tldcr, thc a[Dunt of all costs snd crFlscs in comc.tion with thc lrdEfcr of furds to, oa for th. sccouDt of, tlc Bonowcl from Patis to sny othcr plsct agctd with thc Irodcr, as wall as sny tErafcr fc6 ud srPcnscs in con €ction nilh lhc paymcrl of all sums duc undcr thc Facility. (c) Any psyrrcnl to bc nadc by thc Borow.r io the Lrnd.t shall bc Paid on lhc duc dalc by ro lalcr than I l:00 am (Paris tirnc) to lhc following banl account: RIB Cods 30001 00064 00000010235 03 IBAN tuc: FR?6 1000 ImO 6400 0000 4023 503 Baoquc dc Francc SWIFT codc (BlC): BDFEFRPPCCI opcncd by thc l,tndct at lhc Blrquc dc Fr.Dc. (hr.d ofEcrrnuin bnnch) in Pads ot 8ny oth6 sccounl nolifiad by thc Ltrd.' lo th. Bonow... (d) Thc Bonowcr shall rcqucst from thc bank rcsPomibl. for tr.nsfcnilg sny omou s lo lhc Lcodcr ltut it providcs lhr following infonradon in lny wirc Itallsf.r m.essgcs in a comprchcGivc r9nncI and in thc odcr lct out bclow (thc caption oumbcI! al! refarinS to SWIFT MT 202 and 103 prolocol) . . nll Principrl: namc, addrcss, brnt account numbc. (ficld 50) Principal's banl: natnc rnd addr6s (ficld 52) 87 . RcfcrEncc: nrmc of the Borowc., mc of ora Progranl rcfcrqrr numb€r of thc AgrEcmcnt (ficld ?0) (c) All paymcnrs madc by thc Bonowcr shall comply \rilh lhis Clausc 14.6 (Ploce of poyneit) in oldcr for thc rclcvant paymcnl obligation to be dcsn€d dischaBcd in full. t4.7 Pavmcnt Svstcmi Dsruotion lf thc L.od.r d.acrmincs (in its discrdio[) that s Prymcr Systcrnr Di.ru!'tion Ev.trt hls occuold or lhc BorIowrr notifics thc lrrdc, thal a Plymcnt Systqn! Disnrp(ion Evcot has occurcd, thc Landq: (a) may, and shrll if rc$lastcd by thc Borrowcr, cntcr into discrrssio$ with thc Borowcr with r vicw ro 8grwing any chan86 rc olc opcntion lnd ldministr.tiolr of thc Frcility as thc Landcr nay dccm nacGsrry in thc circumstucas; (b) shall not bc obligcd ro cnr€f into discussions with thc Bol'owcr in rrlation to any of thc changcs mcntioncd in paragraph (a) abovc if, in its opiDio& i( is nol practicablc to do ro in lhc circ1rrstrnc6 and, in any cvcnt, it has no obligation to aglc lo such chrn86; and (c) shall not bc liabl. for any cost,loss or lirbility arising6s. r6ult of i$ laking, or failing to rakq any actions pursuant to rhis Clausc 14.7 (Porrt"nt E knt Dbtuption). t5. MISCELLAXEOUS 15.! Lrnquaqe Thc l.nguagc of rhis Agrcmcnt is Engliih. If lhis ASrccmcnt is trdBl.t.d into aoothcr lan8uag., thc EnSlish vcrsion ihall prwail in thc.vcnt ofany clnflicting intdpra.don or in thc cvcnt ofs dispulc bdwccn thc Pani6. All Dotic6 girco or docuoents provid.d undcr, or iD conncdion with thir AgEcrncit shrllbc in English. Thc Lcrder rmy rcqua( tbat I noticc or documcnl providcd under, oa in corrcclion with, lhir Ag'c.mcfl! which is not in Euglish is acconpanicd by a c! ilicd English translstion, io vhich casc, thc English trrnslation shall prcvail unlcss thc d@urncnt b s satutory documcnt of a company, legal tcxt or othcr oflicirl documcnt. t5.2 Ccnifi cntions and dclgminrtions In .ny litig.lion or arbitration arising oul of or in comcction wilh lhis Ag!.mcr , cntrics m6dc in fic accounls maintaincd by lhc Lcrdcr arc pino lacie cvideo.e of lhc nBltcrs to which rhcy rclrtc. Any cciificstion or d.tcnnin{ion by tha lrrdci of ! mlc or arlEunl undcr this Agreerncnl will bc, in thc abacnce of manif6t cnor, conclusivc cvidcncc ofthc msltcrs to *hich it rclalcs. r5.l Paaial ilvaliditv Ii rt any timq a lcrm of this Agcrmcnt is or bcc.mcs illcSal, inv.lid or uncnfor&ablc, ncithcr the vrlidity, lcgrlity nor .nforccabilily of thc rcmaining provisioB ofthis AglEcmcnt will ineny wsy b. aff.ctcd or impaircd, r.-/ 1 88 t5.4 No Waivci Failurc to cxcrcisc, or r dchy in cxdcisin& on thc pln of $c L.nd't of any tight undcr th' Agr.arncnl shllt Dot op.talc as ! vaivcr ofthlt ri8ht. Panial crc@isc of any ri8ht shtll nol Pravcnt sny funhcr cxcrcisc of such tight or thc crcrcis' of any othcr right or rcmcdy undcr thc lpPlicrblc l8l,. thc rights and rcrncdits of thc taad€r undat lhis Agr.cmcnl atc cumulativc lnd nol cxclusivc ofany righb and rcmcdiG und6 thc apPlic.bl. law. r5.5 AssiEmcnl Thc Bofio*cr rlay not assign or ll.nsfcr, in.ny rnstutc' whttlocvd' 8ll or any of its righli aud obligetioru under this Agrrcmc withoul lbc Priot w'ittco consc ofthc L.idcr' Thc Bonowct sgrccs that th. Irrdd may sssign or ransfcr sny of its tiShts or obligations in undcr fiis A8t ;cnl to any olhcr third party, with the ssmc conditions than thosc providcd the Agrrem;l and nay entcr i o any sub_PtrliciPation tgrccmcnt rclatinS thcrcto' The Lrrd€r shall infoin thc Borowci in casc ofany transfcr of its rights or obliSationi lo any thitd pany. r5.6 LrEal afr.ct Thc Schedulcs anncxcd hc.ao aod thc ,ccitals hcrcof form P.n of Ois Agrc@cnt aDd havc thc samc lcg8l cfrcct. 15.? EntiE agEamcnt A! ofthc Effcclivc Datq this Agrca rnt rt?rcscnts thc cntirc agr! rncol bclwccn the Panics in relation to thc mrttcrs srr out hcrcirr srd $+crscdcs end rcplacrs ell prcviou! documcnls, pan of agrccmcr[s or und.$landings which Day haw bccn .xch.ngrd or communicalcd as lhe ncgoliations in comcction with this Ag,lcmcnt. l5.E Amcndnrcnts No amcndhcnl riay bc medc to thil A8r.rmcnt unl€ss cxpr6sly agrtad in vtiling b"wc'n thc Pani6. Thc cntry into forc! ofany amcndmcol to this Agrccmcnt will havc to follow thc same proccdurc a3 providcd for thc e ry into forEc of lhis A$tcmc ' t5.9 Confidcntialitv - DisclosuE of information (r) Thc Borowcr shall rtot disclosc tllc contrr( ofthis Aglc.mcnt to any lhird patty rrithoul thc Drior conscnl of thc [.nd6 cxccpl lo any parson lo whom lhc Bonowcr hos a disclosurc Lbligarion under any applicrblc law, rcgulalion orjudicial rulinS. (b) Nohvilhstsnding any crislinS confidcntirlity a8raaltlcllt, lhc tctdcr mry disclosc sny rclalion lo lhc ProtRrn lo: (i) its audito6, crperts' 6lint infoEoation or-doculncnB Hics; (ii) ary pcrson o, cntily to whom lhc L,.ndcr or suPdvisory agcncics, lcgal adviscrs part of its rights or obligltionr und.( the AgEmcn(; and (iii) riy assignir transfcr all or purposc of taking 8ny pmlcctivc m.asur6 o. pt6crvint lhc p"rs6n or cntity for thc i[ "ny rights of lhc Lcnder undcr thc Agr@mcnl (c) Fulthcntlorc, thc Borrowcr hcrEby cxprtssly luthorizcs lhc Ltndcr: ?5 89 (i) (i0 to crchanS. with rhc F rooh Rc?ublic for publicrlion on rh. FrcDch govcmmcnt wcbsilc pursusnt to atly rcqucst from lntcnElional Aid Transparcncy Initiaiivc; and topublish on thc tardcr'6 Wcb.it!; inforralion.rclaling to thc Pmgram and ia fuEncing as listad in Schcdulc 6 (lnlonna,ion ,lD! t to! It published on the French Aownun n, Website and the Lcndcr,s tf.bita\ ls.t0 Lillilstion Thc statutc of lirnjtstions of sny chirns uodcr this Agrr.rncBt shrll bc t€o (10) ycars, cxc@r for any cbim of int.Gst duc tmdcr thii Agrcadl.rtt l5.l I No hi.dship Eoch Pany hcrcby acknowlcdgcs that rlrc pmvisions of aniclc I195 of thc Frcoch Codc civil shsll not 6pply lo it wilh rcapcd lo il3 obliptions undcr this Agrcmcnt and it shall bc not cntirlcd lo nakc sny chim uDderaniclc I195 ofthc Frnrch Codc civil. 16, NOTICF.S l6.l ln *riting and addrcssai Any noticc, rcqucat or oths cornmu cltion to bc givcn or otsdc undcr o! in oorulcclion wilh this ASrccment shall ba givcn oa rnadc in *riting and, unlcsr oihcrwisc statcd, mey bc givcn or madc by frx or by ldtcr s.nt by thc po$ oflic. to thc .ddrlss rnd ountb.t of thc rElqv.ol Pany sl, out bclotv: For lhc Borrovcr: Nsmc: Ministry of FiEnc. of Gcor8ia Addrcss : 16 Oorgissli Srrc.r,0l 14 Tbilisi, c.orgia T.lt +995 32 2261450 E.m.il: pubuglcbl@rEef,s! Anantion: Public Drbt Maoagemen! Dcpartmcnl For th! lrrd6: AFI' - PARIS HEAD OFFICE Addr6lr 5, nr. Roland Burhcs - 75598 Psrk Codcx t 2, PrrDcc T.lcphonq + 33 I 5144 31 3l F.csimil.: + 33 I 44 87 39 65 Allcntioft AFD Dirrclor - Easl.rn Europ., Middb E st, AJi! or suc} olhcr addrxs, flx numb6, d@artmcol or officlr s! onc ParOr notifi6 to thc othcr Pany. 90 16.2 Ddiyq Any noticg Equcat or communic.lion rnada or any docum'ot scnt by s P'ny to thc olhcr Pany in c.nncction w h tiis Agt .rnctl will orJy bc cfcctivc: (!) ifby f!,q whctt rcccitd io. lcgiblc form; .nd O) ifby lat t r.t thou8h thc Po* olfca' rvh.r, dclivctld !o tlE corrcct lddtlst, rod, nhcrc r plnicul'' Pcrson or ! dcPsrtiEol is ?Goilicd as-psn of th' eddrrss deuils p."ia.a unai Chu!. 16.l (tn Ytitita ond oddr*s*), if $Eh lloticq rcqucst or cofimunicttion hts bcao addr6scd ro that pcrson or d?snmcoL 16.3 EloiesonnsdstieE (a) Any communication n6dc by onc Pc6on to rmlhar undct ot in -conncction wifi lhit AgrEanroi irlly bc rDdc by dacttonic BDil or oth.t alactronic m€ans iflhc Ptnics: (i) .grcr lh.t, u .ss .nd uotil Dolificd to lhc c.ntr8ry, Uir is !o bc 8n acctpt'd fom of comrnudc'tion; (i0 -' noliry .!ch olh.r in writing of thcir cl"tronic mlil ddrcss-an or any othcr information rcquirad lo .rlablc rhc actding a'd r€c'iPt of inform'tion by lhai meanr; rnd (ii, notiry .ach olha of aDy changc to thcir add'tss or lny oth" such inforfl[tion suPPlicd bY thcm. (b) Ary cl..irodc cotnmunication nudc bdwc.n thc Parlirs will bc cffccrivc only whcn lcluslly rcctivcd in a lltdabla form. . GOVERJiING LAw' ENFORCEMENT AND CIIOICE OF DOMICILE qo!@i!&14! 7. I 17 I This Agrctrncnt is govcmcd by Fnnch law. 17.2 Arhiudie! Any disputc ..isin8 out of or in coDnc.lioB with llis AStr'ocnt shall bc rcfc@d lo atrd finally 'Uy undcr lh. Rulcs of Atbittation of thc lnlcin ioll'l Chlmb" of or "ttit"iioo Cornrncrtc applicablc on th. dstc of cotrtncocrmct of rriitralion proccGding' by onc ."ti"a rnorc arbitntors to bc tppoiitcd in accotdancc trith $rch Rul's' Thc scrt ofsrbilBlioo shall bc Paris alrd lhc lallguag! ofaiilration shtll bc E glish' void This lttir".tion clausc shall rcrEin in full forcc and cffcct iftbis AEcsncnl is dccl'rcd ractusl co or i! lc.nniMt d or crnccll.d ,nd following cxpiry oflhis A$ernqtt' ThG Puties' oblig.tioB undcr thk Agr.qncnt ri. not susprtdcd if a Patty initiat6 lcgll procc'ding' agrinil thc othct Plrty. For $c sroidenca of sny doubt, thc co6ts of conscndory or ptotcctivc mcasur6 talcn bcfort has any rrbitnl goccdurt sinll bc incullld by lhc Party agaiost vhom thc fiDll trbir'l 'wtrd b.cn tlndclrd ifrlds point is rrol covqrd by such atbital 'wa'd Thc Psnics cxPrcssly agrc. that by siSnint thc Agr'rmcrt! thc Borowcr irilvocebly w'iv's all righB of imrnuniiy ii tcap.ct ofjudsdiclion or .xccution on which it could olhcrwisc rcly tal Zt ,--.. 1 9l povidcd, howcvcr. $al inununity is ,rot vri\Ed with ltspcct to (i) pr!.c or furuI!'prcrnis€s of thc mislion includin8 aoy banl sccounli as dcfincd in thc Vic Convcfltiot! on Dplonalic Rclations signcd in 196l, "coDarlar prEniscs" including.ry bonk accounls !s dcfincd in lhc Vicnna Convcntion on Consul!, Rclations siSncd in 1963 or oorarwisc uscd by a diplo fl or consular missiofl of Gcorgia or 3ry aScocy or instrumcnhlity thcrcof (cxcrpt as may bc ncc!$ary to dfcct sarvica ofproccss), (ii) propcrty ofa military ch,Isctrf or uDdcr thc contrcl of s milit.ry authority o. d.fanca agcncy. (iii) prop.fly locatcd in Gcorgir end dcdicltcd to ! public, govcrrunotral or cultu !l usc (&r oppos.d to r corErrcrcirl usc) or (iv) for th. avoidlncc of doubt, (A) propc.ty of 0r Natio.El B.rl ofcroEi., whc{h.r or nol hcld in a Ccoryian or a lon-Caorgian b6nl or my othcr GnaDcill inslilutiorl oI (B) propcrty locatcd in Gcorgia ofany typc covs.d by Aniclc 2' of thc l:w of Gcorgia on Eoforc€rncr Pro.ecdings. Bo.ros.r .qs.rvcs thc right to plc.d sovaEign itrununity und6 tlc U.S. Forcign SovcrEign lrnmlnitiG Acl of 19?6 wiu rcspccl lo rctions brought agsirlst it in any colr't ofo. in thc Unilcd SElcs of Amcdca Ulldcr sny Unilcd Ststcs fcdcr.l or Slrlc srcuritica law. l' ' l'l .3 Scrvicc of proccss Wirhour prcjudicc to any applicablc lal,, for lh. purpos.s ofs.rvingjud,cill and cxtnjudicial documcnls in conncclion wilh any action or proccldings Efanrd to abovc, lhc BonDwcr incvoc5bly choosas irs rcgist.rad oIficc a3 st thc dalc of this Agrcrncnl 8t tha sddrcs! s€t out in Clause 16 (/Vot,.ej) fo. strvict of procrss, and thc ndcr choosG tbc addrcss "AFD HEAD OFFICE'scl out in Cliusc l6 (,Votics) for s€flicc ofproccss. t It. DUMTION This Agrccmcnt shsll cntcr into forcc on thc dotc upon which lhc Ce{rgirn Plrliamcnt will havc nlified lhe Ag.ccmcnl (thc "Effcctivc Dalc') such rrtification occurring not latcr thsn nincty (90) drys afler lhc Signing Datc. This Agrccmcnt shall rcmrin in frrll forcc and clfcct for as long as aDy amount is outstanding. - NoMilhslsndins thc abovg lhc obligations undcr Chusc 15.9 (Confdentialitf Dbclosurc of inhrDotior) shall survivc and rcrnain in firll forc. .nd clT.ct for a pcriod of fivc (5) y€ars lncr r& losl P.ymcnl Dsrc; thc provisions of Clau!. I I .4 .2 (Environmental and sociol gridanc. managenen4 shall continuc to hrvc clTcal whilst any grievancc lodSd uldcr dtc ES Gricvancc MlDagc1n nt Procadurcs is slill bcing procGsed or rDniiorcd. Excculed in lwo (2) origin ls, in Tbilisi. on 2d of Orlobcr 2Ol t. 28 92 Mr. Ivanc MATCHAVARIANI Midstcr of Finsncc of Ccorgia LENDER AGENCE FRAN9AISE DE DIVEI'OPPEMENT Ms. Oaalle ASSAYAG Hcad ofthc rcgional omc! for thc So{th Cluctlus ril ccsignrtorr, Hi! ErctllJffi.. ,r*"t ,,^** Ambonldot of Frsnc! lo G'or8ia 29 93 SCHEDT,LE IA - DEFINITIONS Act of CorropdoD mcans rny ofthc following: (a) $c ect of promising ofrcring or Sivin& dircclly or indir€dly' to a Public O6cial ot to sny pcrson l,ho dircd! or work!' ill any crp6city, for a privatc srctor attity, an urduc sdvantagc of .n, natuq fot thc rclcvrnl pdson hims€lf ot h€rs.lf or for anothcr pcFon or cntily, in ordcr lhal this PcBon acts or rrfteins ftom rcling in btlach of his or her lc8el, clnlracturl or Drof.ssional obliSatious .n4 havinS for clT.cl to influocc his ;r hcr own rctions or lhosc of snothcr patson or cntily; or (b) thc ac1 of, Public Olficial or any pcrson who dirrcts or wo'ks. in my crpacily, for i Privatc srctor cntiry, soliciling or actcpliru, dircc.lly or indircctly, an unduc advsntagc of ally naturc, for thc rclevanl pcIson hiNclf or hcrsclf or for anothcr pcrson or cntity, h ordcl lhal this pcrson acts ot rcfiiiDs from rcting in brEch of his or hcr lcgal, contmctual or profcssional obligations and, having for cfract to influcncc his or hcr own adions or thosc of anothcr pc6on or cnlily. Agraamcot rn ans $i! cndit facility agr?qnc including ils rccitals, Schcdul€s and, ifapplicablc, any amcndmc s nEdc in wdting thcrdo. Alti-Comp.titiv. Pr.cticar lrElnsi ' (.) rny concencd or implicit action h.ving as ils obj@l ald/or as ils .ffccts lo impcdc, rlJtricl or disloi fair comp€lilion in a nurkd, including without limiralion whcn il tqnds to: (i) limil mlrkcl acccss or thc frar cx.rcisc of comPclilion by othca cornpani.q (ii) prcvcnl pricc sctling by thc frec Pl.y of markas by artificially favouring thc incrtasc or decrcasc of such pric6; (iii) limit or control any prduction. markcts' invcsttncnt or l.clmic{l progtcss; or (iv) Shara ou markds or sourcts of auPply; (b) any abusc by a company or group of compani.s of a dominat position vithin a domestic mrrka or in a substantial psn th.rcof; or (c) AutborisrdoD(s) any bid or prtdatory pricinS having as its objccl and/or its cffccl to climin lc fron s nlzt kat, or lo pltvcnl a company or onc of ils prcducts fron acccssing thc ll)rrkcl. mcans 6ny authorisalion, colacnt, spproval, rcsolution, p.trnil' licancq cxcnrplion, filing, Dotadsstion or rcgislrr on, or any crcrirtions in rcspcct thcrcoi obtaincd fmm or providcd by an Auth;rity, whcth.r-Srantcd by mc€ns of 8n act, or dccm.d Sranlcd if no a rvcr is r€acivcd within r dcfincd tim. limit, as wcll as any 8pprcval and conscnt Sivcn by thc Borrowcr's craditors. 94 Authorlty(ies) m@ns any govcrrnncnl or slatutory cnlity, dcparlrncnt or commjssion excrcising a public prErogrtivc, or any ldministratio& court, sSary o! Stalc or any governmcntal, rdminisllalivc, tsx orjudicial entity. AYrihbilify Pcriod mcans rhc p..iod from atd including rlc Signing Dslc up lo $c Dcadlinc for Dravdown. Avrlltble Credit mcons, at any givcr! timq tha rnarimum principal amount spccificd in Clausc 2. I (Fsc,7ir) 163: (i) thc atgrcgatc .rEunt of Borrowct: 'rry Drawdowns drawn by thc (ii) thc amount of any Dra*doyD to bc rnrde pursuanl lo any pcnding Dra$/down Rcquag; and (iii) any ponion ofl}lc Facility which has bc.n can@ll.d puEuant ro Claus6 6.3 (Ca^cellalion by the Borrowel atdlor E.4 (Concellation b! the Lender). Borrowar's Accouoa mcans lhc account with thc following ddails: . IBAN code GE65NB03ll 100001 150207 . B.ok SWTFI codc: BNLNGE22 opcncd in thc namc of thc Bor,o*ar wilh thc St{tc TEasury, Minisrry ofFinancc of Gcorgia . Burinass Day m€ans a &), (olhci than Srturdsy or Sulday) on which brnl! aI! opcn for gcncrrl business irt Paris, .nd which ii a TARGEf Day in lhc evcnt lhat a Drawdown hs! to bc madc oo such day. C.rtified mcals for any copy, photocopy or oth.r duplicatc of rn oridnal documcnt, lhc ccrtification by any duly authoriscd pcrsoq as to t}c conformity of lhc copy, photocopy or duplicstc with thc original docurncnt. Deadline for Dnrddown Mcans Nov.mba 30d,2019, datc aftcr which no frfih.r Dnwdown may occur. Dr YdorYn m€ans a drawdown ofall or pa( of tbc Faciliry mrdc avaihblc b, thc Lendcr to $c Eorowcr puEurnt to the tcrms and conditions sct out in Clausc3 (Drowdown oIFury's) or tlc principal amount oulsranding of such Drawdown which r!.nains duc and payablc al , givcn timc. Drrwdowh Dltc mcrn! thc datc (xl which a Drawdown i! msdc avlilablc by thc Lcndcr. Drawdowo Period mraIa lhc pcriod sianing on thc Drawdorrn Dlte up to snd including rhc lint of thc following ddc: 3l 95 iil rh" d"'6;"ht"hr,- A*iabi; crcdit is cqual to zero; (ii) thc D€adlinc for Drawdown Drawdor$ Request form sct out in Schcdulc mcans a rcqucst substantially in $c (Form of Druurdown Re4uest has the mcaning given in Clause I 8 Embargo 5A (Dura'ion) of this Agreemcnt' al prohibiling any mcans anv sanclion oIa commercial naturc aim'n8 gooos' imnon and/or cxpon (supply, salc or rsnsfc, ofonc or several from a country for ;.#il'';r-J;G's"ii,g i" "ntuo' coming ' and amcndcd ftom rime to timc bv thc IiJJi-"JJit iJrr-.tt"i -UnitiNations, Erancc' the Europcan Union or ES CrievaDce Mansgemeot Procedures and the cont"actual tenns contsined i0 thc Environmental ..rns the on 'dJji #;;;;;;c"."nt Prcccdurcs, which is availablc W€bsite, as amend€d ftom timc to time' me3ns thc intcr_bank ratc applicablc to Euro for any dePosih- of 1", a period comparable to the Interesr Period dd€rmined bv the Europcan. Y^onev bt*aoo,n, ffiiii;l;'i;H; ;#;;i";; (EMMI),".or any succ€ssor lheteto' al ll:w a'n fil"*cs '#""i t rsrirut" il;-i;ilzj ar.in"t' b'v' before the fi'sr dav or the Interest Pcriod Euro(s) or EUR of lhe Europcan merns lhc siogte currcncy of thc membcr states iJnion, including Francc' and having legal ffiili;;"";";;;, tender in such Mcmbcr States' Event of Deftult iJ^ uny "r-, o, "ir"*,ance sct out in Clause l3'l ('ve"r q/ means the credit facility madc available by the knder to lhe Borrower uP to the rnaximum princiPal iil;#oini-;il i[ts2lAsrecment (Facilitt)' amouN sel oul in Clausc FlDlncisl lDdebtedoess mcars any financial indebtedness for and in re'spcct of: (a) any moni€s bonowcd on a short' medium or long_tcrm basis: raised pu6uanl to the issue of bonds' notes' lhl '-' anv amounls d.Lnures. loan stock or any simila' inshrmc0is; 8ny r.) anv funds raised under any othcf, transaction (including commcrcial rhc having '"' ;;;;;i;';;-ilchase agrecrncnt) clfcct ofa boiowing; (d) ary potential Paymc obligation that rEsults fiom a Suamnlee' bond, or sny othcf insEumeit' 32 Flnlnchl Srnctionr List mcans thc list(s) of persons, groups or enlitics which arc subjcct to financial sancrions by the t,nitcd Nations, thc Europc$ Union;nd/o; Francc. For infomation purposcs only 8nd for $c cotrvcnicncc of thc Borroys, who rlay rEly 04 thc followiDg rcfcrcnc€s or *cbsilc addrcsses: For thc lists m.lnt.ioed by thc Unltcd NttioDs, thc followirg websilc may be consultcd: https://www.un.orglsc/suborg/cry'sa ctionvun-sc-consolidatedl ist For tbe list maitrtriu.d by tba E[ropea! Utrton, rhe following websilc may bc consuhed: For ah. lists h{iDtrlncd by Francc, ths following wcbsitc nuy be consullcd: @rif-Nation't-dacctI enonstc mcans one point cighty ievcn pe'cent ( Lg?76) p€r annun. means any.unfair pradic€ (acrs or omhsions) deliberately intcnded !o mjslead olhers, ro iDtcnlionally conc@l elcmcnts rhcre fmm, or to belray or vitialc hirher consent, to circumvcnt any lcgal or regulatory rcquircmcnts and/or to violalc intemat n lcs ana procearrd of tlll --Borrowcr or a third party in order to obtain an illegiiio"t" U"n"fit. Friud a8.iErt tbe FinrDcirt Intercatr of the Europeao Communiiy means any inlcntional act or omission intcndcd lo drnagc the Europcan Union budget and involving (i) the use or prescnBtton o[ Ia$c, tnaccuratc or incomplctc slatements or d@umcnts, which has as ef[ecr. thc misaplropriation or wroDgful rclcDlion of funds or anv llrcgat rcducttoD in resotrces of thc gencral budga of thc Europcan unron; (tr) thc nondisclosurc of infonMtion with the same eflect; and (iii)-misrpp_ropri.tion of such funds for purposG oth.f lhan thos€ ror wruch such tund6 werc originally grantcd. means the period from-the Signing Datc up ro and including lhc datc Ialling sEvenly-two (72) monrhs aftcI such dalq during -which no prircipal repayment under thc Facility is due and pa),able. mcans ftnds obtaincd throuSh: (a) the cornmission of any prEdicrte offence ss designatcd in the FATF 40 recomncndations Glossary rllldcr ,,Desigtpted otenca,' rhnn://ww;.farf:il:c:\:: , ," :{ fi .orglr.n4ia/fatfl documenrV;ecommendarionsf ;mITF-i; (b) any Ac! ofcorruprion;or ,T rl, 97 (c) Indcx Rrtc any Fraud aFinsr lhc Fimncial Inlcftsts of lh. E!rop..n Community, if or *hcn spplicabl.. maans rhc TEC l0 &ily indcx, thc tcn-yc$ constanl maturity rat. displaycd on a daily basis on ihc rclcvart quotalion pagc of th. RcfcEncr Financial tNtilutioD or tny olhcr irdcx which may rcplact thc TEC l0 daily indcx. On lhc SigninS Dttc, thc Index Ralc on Sc?tcmbcr 261 2018, is z.ro point eighty two pcr ctnt (0.8270) pcr annum Itrtere.t Period(r) mcans cach pcriod ftom ! PsynErr Datc (cxclusivc) up to lhc ncxl Paymcal Datc (inclusivc). For cach Dnwdown undar lhc Facilily, tlc first inlcrcn pcfiod sh.ll stsrl on th. Dmwdown Datq (cxclusivc) and gnd on lhc ncxt succcssivc Paymcnt Datc (inclusivc), lDtercrt Rlac maans thc intccrsl ratc cxprcssrd as a pcrcrr sgc and dctcrmincd in rccordancc rvilh Chusc 4.1 (lnlensl Rnte\, Margin Means zcro poinl sixty pcr ccnl (0.60%) pcflmum. Mrrlct DisruptioE EYeDt mcans thc occuncncc of onc of$c follo*in8 cvcnts: (i) EURIBOR is rcl dd.rmincd by thc Europcan Moncy Markcts lrBtitute (EMM[), or 8ny succcssor lhcreto, at I l:ooam Brusscls limc, two (2) Busioess Drys bcforE thc firsl d.y of cr6t Pcriod; or lhc rclcvaot l (iD bcfor. closc of busincss of thc ,clcl/arl intctbarl rErkct, tllo (2) Busincss Days prior to lhc fi6t day of th. relcvant lnleEst Pcriod, lhc Bongwcr r.ccivcs nolificstion frcm lhc Lcndcr that (D tlc co6t lo lhc ladcr of oblaining rn6lching trsourccs in thc relcvanl intcrtank mrrkct would be in excesi of EURTBOR for lhc rclcvan( Intcrcsl Pcriod; or (ii) it camot or will not bc ablc lo oblain [atchinS rcsourEcJ oI| lhc rclcvant intcrbanl rflarka in thc ordinary c.oursc of business to fund thc rclcvsnt Dravdown for $c rElcvant limc p€riod. Mrlerirl Adv.rs. EILct mcans s matarial and advcBe cffcct on: (a) thc Progran! insofur as it would jcopardise lhc irnplcrncntation lnd opcration of the Progrtm in accordancc *irh this Agrtancnt; (b) thc businass, asscl!, financisl condition ofthc Borrowa or ils sbility to p.rforn its obligstio[s undcr this Agrccmcn(; (c) thc validity or cnfotce.bility oflhb Agrccmtnt; or 3,4 98 .ny righl or nocdy of fic L(adcI undq lhig ASrcerna(. (d) Outtlrnding Princip.l mcsns, in rcspccl of any Dra\rdown, thc outstlnding principal arnount duc in r€spccr of such Drawdow[ conrsponding to thc amounl of thc Drawdo*n paid by thc L,crd.r to thc Bortowcf lcss thc aggrcSrla of instahrcnB of principal Epaid by thc Borowct to lhc ttndcr in rcspccr of ruch Drawdo\rn. mcans Fcbruary I 6' and AuSust I 6u of .ach ,'c.I Prvment Dttes Paymcnt Sysie]na Disruption Evcnt mcans .ith6 or t olh of: (a) a nutcrial distuptiotr to thc psym.nt or communicalioo systrdls or to tho financirl markct3 which !rc, in cach csrg rcquirrd to opcratc id ordcr for paytncnts lo ba mrdc iD conocdion wilh lhc Facilily (or otharwisc in ordcr for tha laaniactioo! co .Inplatld by this Aclc.tn to bc crlricd oul), prcvidcd llul thc diituplion is nol causcd by, and is bclond lhc control oi any of lhc P.rticr; ot (b) tha occurrqra of any othar cvltlt which r6ult6 in s di ruption (of ! tcchDics.l or systarn-rclatcd mtu!) lo lhc ttcalirry o, payll|cnt oFolions ofa P!,ty prrvcnrinS thrt, ot lny othct P!ny: (i) from pcrfoming ils pqmc obligationi urd.r this Ag.tmcnl; or (ii) from conrmunicating with lhc othcr Partics in accordlncc with thc tcriis oflhir Ag.cmcrlt; .nd which (in cilh6 c{s.) is not cau5.d by, sDd is bc}ond drc conrol of, citb.( PtnY. Prcp.:/m.tri CompalartorY hd.mnity mcans tlc indannity calculal.d by applying thc following pcrclnE8e to rhe amounr of lhc Facilily which is rcpaid in advancr: - ifthc r@aymcnt occurs ptior to thc 6rh annivcrsary (cxclulivc) of thc Signing Datc: t\ro poi livc p.t clttt (2.5%); if lhe rcp8ymcnl occurs bawacn thc 6r annivcrsary (inclusivc) and thc l0!r anniv.rssry (cxclusivc) ofthc Signing D.tc: two pcr ccd (2%); Progrrm if lhc rcpayment occlus bdwccn lhc l0'r aonivcnary (inclusivc) and th. lsd.rmivetsary (exclusiv.) oflhc SiSning Darc: one poid fivc pq cltl (1.5%); if lhc rcpaymcil occus ancr lhc lse ainivqsary (inclusivc) ofthc Signi!8 Datc: onr pcr ccnl (l%) mcarB thc Progtam ss drscdbcd in Sclrcdulc 2 (Pagron Desciption). Public Official means (i) .ny holdcr of lcgislativc, excculivc, adminislntivc or judicial omcc whclhcr appoi cd or clcclcd, s€rving on Pcrnancnt bssis or oficrwise. paid or unnsid, rcgardlcss of nnk, or (ii) snv other 35 I @lauofthc of incorporatioq .nd (iii) ary p^trsoi il;";:;'j;Jcril -olhcr sscocv or a Ir"ii."r.rir" iliirr" tunaion, includins ror Public scrucc' orgEnisation, or providing a Public Rrle ConvGrsiotl Rrte Coov.rsion Rcquet ratc applic'blc lo all or part of ttc pursuanito clausc 4 l (tntctel Rorc) mcaDs thc colvcrsion of $c floating ,. ; fi;; ;;;tily illly in thc form snachcd *c.* a rcquast f.om thc BoIlow.. sub(rR'qudtl' s"rt a"iJ sc tfrr. ,f Ro/r- Conversion "" Rrt. Srtting Drt. mans: I - io rdalion to any tntcr€st Pcriod for which dctdrnin.d: 'n lrtcrcst Ralc is to bc Busi'rcss D8y' lil rhc first Wcdfl.sday (or, if lhst datc is lrotfollowing ' rhc dalc "' ii. ir-Jri"i, r"iowing Busincss Dav) R'qu'sl' ii ro"ior tt thc L,tndcr of th' (2)Dmwdowo Busines Dsvs i.'iaJ',Li'.t"r, a"" is al lcasl two tull prior to said wcdn'sdly; (ii) thc rc..nd w.dn.sd'y (or, if th'l datc is nol a Bulincss "" irr. ,fr.-irrn"ai"tcty fotto*ing Busincss Dty) following -tlr-Jiur" Rcqucsl ot to.ipr Uy rtt" ltndcr of $c Dr8wdown (2) ii .,*rt an" aolt not at lcast two tull Busin'ss Days ili wcancsaav spcclnca in parasr'ph (r) ;;;i;; ll - in thc cssr of a R,lc Convctsion: Busincss Dty' lil rhc firsr Wcdocsday (or, iflhal d'lc is rrolfollowins ' thc datc "' iit" rr-Jr."ii t"ilowi;g Businds Dav) Rcqucl u, itrc Lcnaer of tne R'tc Colvcsion *.ri -tr,Jiri""t "r pt""idcd such datc is !l lcasl h'Io (2) tull i.t Busintss Days bcforc thc lirsl Wcdncsdly; Busin€ss liit lhc srcond Wcdncsd'y (or, if tlEl dtlc is not a following Day) '"' ilr. rftc i.mcaiarav- following Busincss L," ilJ -n*r.s-. *"ip, uy thc LrnJcr of tic Rdr convctsion "i ii *.f,'aal i' nol at lc8st two (2) full Bu5in6s DaYs Prior to fic litst W'dn'sdsY' Ref.r.trca Finrnclrl ln,titutiott rcfcrance linancial I..n, a f,n"n"i"l inslitution chosen as a suihblc plblishat quolarions^of wlictr rcgutartv iffiffiilil;il;-ana - -nat fimrrial infomulion on onc of th' inlcnutDl financial in$rumcnls ;;';f;-;;i;t to thc prrcticd r'clsniscd bv th' bar*ine indu$ry. mcans my schcdulc or schcdulcs to this Agrccmcnl' mcan! thc dat. of cxccution of rhit Agrccmcd 36 by all thc Panics' 6.', r1* 'TARGET D.y marrts a dey on which thc Trans Europcen Autonarcd Rcal Tintc Grors ScilcrncDt ExrEss Tr.Bfcr 2 CIARCEI2) lyst.trl o. any succ6sor dE !to, is opcn for paymcnt settlcrncfll in Frrros. Tir(c, mc.ns any rax, lc\ry, impost, duly or othcr chlrgc or wirhlolding ofa sirnilar naruIc (including any pcnllty or intcrgt payablc in conncction wilh a failul! lo pay or any dclay in thc payment of sDy such amounls). Websile m.ans lhc wcbEitc of AFD Orttp://*Tw-afd.f./) or sny othcr $rch r@hctrnc wcbBilc. Wirhholding Tsx ^N mcsns any dcduclion or rdantion in rcspcct of a Tax on any paymcot madc undcr or in coonaction with this Agrcqncnt. 37 - \r) 101 SCSEDI'ILE TB. INTERfRETATION righB of cvcry dcsctiPtion: (3) "t.aetr" includcs prcsrnl rnd firtura proPcrti6, rcvctlucs and o) snv rafctcnc€ to lha "Borrowar", ! "P'rty' or s "Lod'r" includ" (c) env rrfc*icc to thc AgrrcmB[ or othcr doculrcnt is a (d) its stl6cssors in iitlc' pc'rmiucd assigns and pcrmincd truEfc'Es; ';;a rcfctcrrcr lo this Agrc"nrnt or to tuch rc*tcd or srpplcrnartcd rn9. l*ls' if rPPlic'blc' snv ;,'#il;;; i"il"ii *fri"-f, ."pf ""^ it rhrough novation, in acaordancc with the Agrtcmcnt; rrrc. a]l[,l ltt/ any Sard'rie rvhich is ind'p'rda from a "gurrrrta." includas any cauionnefient, thc dcbt to which it relatcs; (e) ..hdcbtcdEcaa. mcans any obligEtion of any p<rson whatsocvcr (whcthcr"incrnrcd as acual piJp.i * *r"il r", rt " p"yrn<rt ot ttpuyn-r of rnonry' whclh'r pttsrot' futur'' "i or coDlingcnti (f) ,,parton" includcs sny parsotl cornPrny, corPoralio[ Patlnqship' -trusl' Sovctnmeot' slttc or (whdhcr or not uri*iurion, o' group of two or rnor' of thc foEgoing o, i a "ny "i" "g"n"y scpoml. lcgal Pc6onslilY); having (c) rulc' dccrcc' oflicial dirtctivc' inslruclio'! or guiielinc (whabcr or nol havinS lhc forcc of a "rcgul.tion" includ6 any lcgislrtio''.rlgulttion' -.,,^t id;.. rEommcndatlol|" dcclslon suponatio,l uoav' supcrvisorv aurhoritv' iil,i? ;ffi':#;il-i"iio'"'nt*tt o'rulhorily' ag'ocy' dcPeflrn'flt or any division ."grir"aryirii.;,y, lnacpcndcnt-adminisuati"e induslrisl or (includinc anv rcgulation issucd by rn ii""i, "ir,"i tr*#,y oi organisation clfcct on rhiiAgrecmcnt or on the rights snd obliSalions "or#*i"ip"uf ofa P!nY; i" "niiv) haiinS on provision as amqrdcdl (h) (i) a provision of l8w is . rcfcrcnc' to thd unlas othdwisc Providcd, s limc ofdty is ! flfdlIrc'to Pstis timc; t) The S.ction, Clsusc and Sch'dulc h"dings arc for (k) cxor6sions uscd in any othcr dodrm' relaling lo this unl.ss olherwis. providad' words and with rhis Agrccmcnt havc thc samc mcaning asrEcmcnl or in any [otic-c avcn rn connccrion in-thrl documcnl or noticc !s in this AgrcrnE ; (l) an Ev.nt of D.fault is "conliouing' ifit any ofils rights rclaling lhqtto; o[ nf'rrncc only ard do not elfcd lhe 'asc intaprclation of lhis Agrc'incnt; has nor bccn erncdicd or ifthc Lcndq has not wtiv'd (m) a rcfcrdrcc to I Clausc or Sch'dulc shrll bc a rrfdlncc lo a Clausc or ScMulc of lhis Ag'ttmcnt; and (n) ril wordr imPonins lhc plu6l shtll includ' lhc singulu and vicc-vcBa' .,i r) 38 102 SCHEDT,ILE 2 - PROCRAM DESCRIPTION ObjcctiY. oftbc ProSrlm Thc objcctivc of thc ProSram ia to suppofl lhc tovcf Dcnt wilh thq implqnantation of tha EncrEr Sactor Rcform of Caorgi!. Scopc of thc ProtrrE Thc scopc ofthc Pogram is fully aligncd with 0tc Policy B!s.d lr.o of lh. KIW oo En..g Scctor Rcform of Ceo8ia, which scls ! i.fi6 oftrigg.B to bc rcachcd by thc govcmmcnt in lhc conlcxt of thc rlform agcrdt dc$ilcd in tE Indicativc Policy Mstrix in Schdule 3. Thc objcdive of the program is lo suppori Gcottis in its cfons to (i) structui. thc r.gulatory frarncvo* of lhc !n.r$/ cflicicncy scsor rnd (ii) lhc tcSulstory ard opc6tioMl inplcrncntalior of th. 3d Encrg/ Ptcklgc (clcclricily marlcl) wilh hcrc slso in Pctsp..riv. thc dcvclopmc of arcrgy cfficicncy and thc funhcr dcvalopmcnl of! Gcorgian alcctricity mix b$cd oa Ercwlbl? cnct8i6. Th. prior aclions arc lo bc fulfillcd fo. ihc Progam lo be co tidcttd crrnplctc. Il- MoDitorlry of thc Prognm Thc oDnilorin8 ofthe Progra$ will bc canicd oul in full coordirEtiotr with Krw, on thc basis ofthc trigscB pr.scntcd in thc Policy Matrix tnd sccoding to lh! hinciplca of thc Monitoring Sch.'mc agiced upon with thc KfW ard the Ccorgian Govrttuncnl wilNn thc Dccharlion oflrtcrtst signcd on rlic l4'h of May 2018. Rcgula, coruuhations wi[ b,c hcld wilh fic KfW and thc Gcorgistl 8uttorilics to cnsurc a closa and upda(.d monitoting of thc Prcgalt\ csParielly lhrDugh thc Prog'lm Stcating Conunitlac. 39 103 SCHEDT LE 3: INDTCATM POLICY MATRIX chrtr8" btsed oD t!' dltcuttloDr held 'nd tnd thc Borrower' Tba Potlcy Milrir may be aubjccl lo .mcDdmctrtt betweeD th€ Kfw, AFD [doption of onorgy officloncl lltat glc lramovrork bY ihe government: Establishing the sfategic, lnstitutional' Mlnisby of and financial vision and dralt tram$Yo* Economy shall This for energy efficiency in Georgia and encomoils the adoption of National (NEEAP) Sustalnabls EnErqy Elficienqy Action Plan that sets thB Georgian Govemment Dqvolopmont eftlci€nry targel as well as the govemment's decisions on the i-nstitutional and financlqlleoglgB or aran energy Law bY ths IFaopton govgmmgnt: Adooiion ol dralt Energy Law bY oovemmonl establishing the legal Mlnistry ot Economy ioundation for the electricity s8ctor roform and to a markst in complianca with EnC acouis. Tho Law shall r€quire a) a now SuEtalnable insiitutional set-up, ll) an unbundling Devslopment regime (partiqllar in referenc€ to the TSO and DSO). and iii) promote regulatory Obllgatoty bY coniept MoESD: Adootion ol 6lectricity market conc€pt by ModSD to provide strateglc auidanco 8nd tamet on i) design lor elodricity markel ref6rm, ii) iesign for electricity balancing markel relorn. and iii) principl€s for the lunctioning electllcity oromotion of market by providing solutions for existing a Mlnistry ot Economy and Suslainablo Oovslopment D€Giopdnt ofA;frElecticity Market I'ii-'-'"'--'darancing'hulee: This m€asure comPrises of the devolooment of two sets ol regulalory acts that shall be compliant with EU and EnC acquis, i) lho new electricity market rules in lins with the elecl,icity markel concept previously endorsed by the Govsmment and li) the balancing GNERC, MoESo, GSE, ESCO conce9t.. Both ac{s aim to targ8ts fo' imolementalion of the G€orgian eleclrjcity and balanong markel, should specily transilory Penods and inlermediary i.io"rs iitt oottt underlying concepts will be wholly implemented ln traie to it,,t, fU additlon, the messure includes an appropriate smEndmenl to the existlng ftarkei.ules due to th€ firsi stag6 ol market oponing in trtay. 20'!8 and has to be taken into account v,iite measuring progress achlewd. Adoplion ot drafr on€rgy oftlcloncy hw in compllanca wlth Dhec{vo 2O12WEU by 2 MoESD: Ministry ot Adoption of dEft energy efficiency law by MoESD as a nscessary prBcondition to Economy move further towards its adoption by the and parliament. lt will establish lhe GeoEhn Su8talnablo legal foundatlon fo. lmpl€mentjng ongrgy Dov.lopmont €fficiency policl€s, measuftls, and support schemes in compliance with Oirectlve 2012127|EU . 7.h Adoptlon of draft enorgy efflciency labelllng law ln qompllanc, wllh Dlrectivo 2010/30/EU by MoESD: Adoption of draft eneryy effci€ncy 3 MinisEy ot Economy labelling law by MoESD as a rEcsssary and precondition to mo\,/€ lurther towards its Sustainable adoption by the parllament. will Developmont establish the Georgian legal foundation for transposinq EU Directive 2010/30i EU Establbh an onorgy slflcloncy storrlng platform: Create an gnergy ofllcisncl interministerial ste€rirE platform. The platform shall have the obligslion to €sisblish. consult on, int€grate, and monitor NEEAP measurcs energy €fliciency Minisby ot programs. This shall include, bul not be Economy limited to: the approyal ard coordinatlon and sl€le and intemational energy Sustainablo etficiency lnvest nent projocls and Developmont 7% lt Preferable and 4 of 7.h Pr9grams, th€ accreditation and certifl"cation of onsrgy effciency programs and schemes, approve and csrtify training sessions and workshops for certificationtrainers, integrate energy emciency in to 105 rising campaigns, and support E-areness and consull on the Bntire cycle of anergy efficiency legislstion Eltaotistr stakeholder rsference group(s): Create one or two bodigs thal sEN€(s) two tunctions; i) support for polilical Miristy of dialogue regarding all legislatrve iniliatives Economy and Sustalnable Oevelgpm6nt Lar.ractr ot ttr" p,eparatory works lor balancing mechanism doPloyment: lniliation of an implementation initiative to implement the first phase of a previously developed balancing concept; aiming at assumeing full responsibility ovor the load-frequency control processes and all actions subsumed under balancing within the EoC acquis (i-e Pursuant to the ENTSO-E Operation Handbook, or the Operation Guideline, respsctively) and will cover: i)the oimensioning o[ reseNes, ri) the introduction of load-frequency confol and balancing energy activation processes, as well as, iii) the dellnition and prccuremeni oI balaf'!!f!919!q/eg GSE, ESCO and proposals from the Ministry and ii) support to foster markel reicrm through fast track consultatrons, direcl feedback, ' 106 Launch public ensrgy omcloncy d€monstratlong: gr 5 of Promol€ lhs eaiy slart €nergy etficioncy domonst'atign prejects in publlc entilies loc€l judsdlcllons. The implementatlon energy sfliciency demonstratlon projgcts sh8ll cover tho 6reas of €nergy managoment, engrgy etficient public procur€ment, energy minbtry of performanc€ conhacting, energy gfficient Ecoriomy public street l[]htir€ and returbishment or and constructlon of publlc buildlngs (including Sustalnable building insulation, refu.blshment, Dovolopment optlmisation, hardware replac8mont, softwarg improvemant, or r€placament energy consuming devices) with ex-ante and ex-post quantilications of energy, money, and least 4 emissions savings municipalilies, the quantification of associated social and health care benetits r€newablo onergy Adoptlon of 56/. prccess of Advisable in at as w€ll as, ot statsgic framswork and package by 1',l MoESD: Establishing ths slrategic, institutional, and linancial vision and draft framewgrk for renewable energy ln Georgia, More precisely, slaboration of the National Renewable Energy Aclion Plan (NREAP) thal sels the Georgign Government renewable en€rgy aM thE govemment's decisions on the instiMional and linancial supDorl ,ramelrork. Mlnlslry of Economy and Sustslnable Devolopmenl 5% 0 ')'4 107 SCEEDTJLE 4. CONDMONS PRICEDENT Thc following lpplicr io all doqtrrcnts daliv.rld by thc Bonowar t! ! cordition pllccdcnl: - if thc docutncnt which is dclivcrcd is not 8n originrl but s photocopr' thc origintl Ccnificd pholocopy $all bc dclivcnd to thc L.rdrf; - thc firEl vdsion ofa docutrtaol wNch drli vas ptcviously Irrd.., shall not rietcrirlly dif.r fiom lhc sgE d drai; - docurFntr not prcvioudy sr to' rnd agFcd upon by lhc s.tx. agEcd upoll shall bc r'tishcto'y to ttc L'dcr' P^RT I-CONDITIO S Pf,ECEOEMT TO A8 SATISR EO ON TIIE STCNIIIC DATE G) Dclivcry by thc Bonor'6 to lh. knd., ofthc following docuncots: of thc (i) 8 Ccnificd copy oflhc DccIlc of lhc Govcrruncnt of G'orgia on (ii) ' . ccnificd copy of tlE Odcr of lh. Plinre Mioi$?r of Gcoryia sppoiotinS Mr' lva'E of July 2018; Mrtchrvariani as r MinisLr of Financc of Gcorgi. n'234 darcd (iii) a ldtq duly Eigncd by thc Ministry of Firurc? confirEing tlat thc d-awdoyn of thc F.cility wiil n; br;h any bonowing limit, or any othcr similar limit binding on lhc Ministty ofFinrrcc ofc.orgi. to sig! th. Agrc'drnl; 'uthorizrlion '2o Borroscr. O) Dclivcry by a Eputablc law firm qstrbliM iD lhc judsdictiol of lllc Borrorrr a'i s'lcc&d by tlc lrder ofa dni lcgal opinioD, in fonr ad grblrnct s'tisf'ctory to lh' Ltnd'r' PART II . CO DITTONS PRECEDETT To TfiE D&AWDOWII (r) Dclivcry by lhc BormwcI to thc L.ndq oflhc follorvinS docum€tttt: (i) I crrtificd copy of rhc Rcsolution of thc Patlitm.nt of Gcoryit rclating to thc 6tific.lio[ of lhc Frcility Agrccrrul; (ii) . lcttcr duly siSncd by tIrc Mitinry of FiBrr. slalin8 tl.t lhc Fscility Ag.crmcnl is ircludcd in thc "Rcgistry of Strtc Lrar" of G.o8ia; (iii) e lcttcr duly signcd by lhc Ministry of Finamt coDfirming thrl lhc Progr'm cofinancing loan has bcco approvcd by KfW's Board for 49 M€, 8nd signed by both p.ni6 (KfW and Minisuy of Financc of Gcorgir) and lhat t|c Facilily is includ'd in lhc Borrcwrr's rllcvent yrsr's budgct (b) Irdcpddcnt lrd posilivc a$.iimcot by rhr lrrdcr 0l.t thc triSgcrs of lhc Progrrm foi lhc yc.r 2ol8 havc bccn Fop€rly inpldncnt.d by lhc Bcocltcisry; (c) Dclivcry by rhc Minislry ofJusticc ofGcolgia to t'hc Lcndc! of! duly cxccutcd lcgal opinion' in form.nd substancc latilfsctory to thc lrodcri (d) Dcliv.ry by e rrputeblc law firm csublislEd in ttrc juridiction of thc Borrowc. etd sclcctrd by ltr. t ndcr of a sig|cd lcC @inioo, io f6m ard sub3tlncc salisfaclory to thc L.tdcr; (c) Paym.nt by thc Bonowcr to lhc Lrd.. of all fccs and cxpans.s duc and payablc undcr (his ASrcclllcrrl. r'..\,1(B -/t scHEbuLE sA - toRM or DMwIrowN REQUEST [on tha Boto'*q's lelrerhaad] TO: AGENCE FRANqAISE DE DEVEI..OPPEMENT On: ldotcl Borrow.r'r N.m.- Cr.dil Frclliqf Agtc.o.Dt !o l.l drrcd I.l Drrwdono R.qu..l ool.l Dc.r SiIs. l. wc rcf?r to thc CEdil Facility Agrcaftnt n" [.] cnlard into bctw€an tha Bonowat tnd th. Lcndcr d.lcd [.] (thc "Agr.!D.Dt'). C.pitslircd votdt and axPr6sions us.d but nol dcfin.d harcio havc thc mcrninSs givaxl lo lhan in lhc Agrccmdt. 2. Wc incvocably rcqu6l thst tllc land.t rnak.s r Drawdown sv8ilsblc on thc following lerrii: Anounr: Etn 25,000,000 lDtcrcsl I R.L: Uixed lfloat@l Thc Inlcrcst Ratc witl bc dq..mincd in ac.ordsncc with Claurc 4 (/zlereri of lhc Agr..rnq . Thc Imcrest Ratc spplicrblc to thc rcqu6t.d Drawdovm will bc providcd to u3 in wriling and w. acccpt lhis Intcr6l Rrtc (subjaq lo lhc prrsgraph bcloe/, ifrpplicsblc). lFor fir.d lnterltt R.t Pplv:Itflhc Inler.s Rdc rPPliclblc to thc rrqucrtcd D6wdown is gI(,ltr5 thAnl.insert Percinldge in l,{,tdtl (1.)V.), ut tlqucst lhat you csllcclthis Dnwdown R.qucst. 4. wc corfirm that cach condition rp.cifid in CIsxJlc 2.4 (Condiliont precede , i. *tisficd on lhc d.tc of this Drawdo*rr Rcqu6t 6nd thst no Evqr of Dcflull is co inuing or is likcly to occur. we .gEc to notiry ftc Lrrdcr ir ncdiatcly if 8ly of thc coodilion! rqfcrEd lo abovr is not satisficd on or bcfot€ the Ddwdown Datc. 5. Thc procreds ofthis Drawdovr should bc qdilcd rc [lc following bsnk.ccount: (a) (b) (c) Namc [ofthr Bo.ow6]: Addr6s loflhcBormv6]: IBAN Account Numbcr: (d) (c) SWIFI Numbcr: (0 Corrcspondcnt balrk snd tccount [.] ['] ttl [.] Bank and bank's .ddrcss [of lhc ['] Bonowcrl: ['] numbcr oflhc Bonow6's banli 6. This Drawdown Requ.sl is irr.voclblc' 109 ?" wc hsvc !tl!ch'd to this Dra\rdown R'qu'st ill tdc"lnt prec'Lnt) of$c lgttrr,nqni suPporting documc s spccifcd in Ct"u*i.clconaido* lList of 6upPoni!8 documcfts] Yours sinccrely. Authoris€d siSnaiory of Borrow'r "'110 SCHEDULE 5B - FORN' OT CONFIRMATION OF DMWI'OWN AND RA'IE [on /gencv Ftoncoite de Ddnloppenent le erhead] To: lthc Bonoictl Darc: [.] Rcf: Drrwdown Rcqucsl n. [.] &lcd [.1 Borowcr'r Nrrrl. - Crcdit Frclltty AgrllrD.lt no[.] drt d [.1 Dnwdowr Colrlrrratlon nol.l Dcar Sirs. l. wc rcfcr to thc Crcdil Fscility Agr!.flicr no[.] entcEd into batwr.D dl. Bo.rowcr lnd thc Lcndcr datcd [.] (th. 'Agrr.dc!f). Gpirrliscd word! and .rpi!.!iors ulcd buI nol dcfincd hcrcin hava thc mcanings givqr to fisn in thc Agr€amcnt. 2. By a Drawdown Rcqu6l Lctt.r &rcd [o], thc Borrou/rr hrs rrquGlcd that lhr L.odcr nuk.s availablc! Drawdown in lhc amourt ofEUR 25,000,000, pu'sl,ar to thc t6mt and condilion ofthc Agrccmcnt. 3. Thc DrEwdo*n *hicb haa bccn lrudc avlilablc accoading to your Drawdoyo Rcqu6t is ss follows: . Amounr: Euroi twcnty fivc million (EUR 25,000,000) . Applicablc inlacst r,itct l.Fgrcentoge in Lodsl ([.1y.) pc, annum . ElIccliv. globrl r.rc (pcr onnum): [.rrc.Ec, tcgE in nnfs'! (.lyo) r Drewdown Darq [r] lFor fit'.d-lDt.r.rt Rrl.lortrt otrlv For infonnslion plrposcs only: . Rllc Sdling Datq [.] . Fixcd Rcfcrcncc Rnt i l.peftentoge in eordrl ([.]%) per annum . lndcx Ratc: [oparcenra8E 1., wr&] (.1%) pc. snnum . lndcx Rate on Ratc Scuing Darc: l.perEerrage i, r.prdr] ([.]%) per 8n0um.] Yours sinccrcly. Authorisad signalory of,{gerce Francoise de Yevelowmenl clL l1l SCIIEDI'LE 5C . FORM OF RATE CONVERSION REQI'EST [on lhe Bo'm"*r't leuerhad] TO: AGENCE FMNCA]SE DE DTVELOPPEMEIIT On: ldoEl Borrorcr'r NrmG - CHlt F.cility A$tro.ot D'l'l d.tcd l'l Rrt. CoNcrdor Rcq!.tl ool.l Dcrr Sirs, l' wc rcfq to tlr' crEdil Facilily Agrcltncol n"['] cnt'red inlo bct\rccn lhc Borrowcr and lhc r-",tic' a"tJ fq (th"'egt .r"oi'). opitalisod wonds and cxPrcssioB u3'd but not defiNd hdcin hrvc thc maaningt Sivco to lhcm in th' Ag'c.tncfll' 2. - Pursutnt to Cliu.a 4.l.3 (i) (Convelion lrod a loatiE tn@rest Rok to a faed lntcrcst Ra/rl lntcI6t Rrtc of lhc thc floating you convcrt ;i th" Agrccmcnt, wc hcrcby rcquot that follorviDs Drawdown: . lmctrtion Dtor+doted atiou and dolcl, into I lixcd Intcrcst Ratc in ac{ordrrpc with lhc lctm! ofthc Atr"nr.oi' 3. This ratc convc6ion Equcst will b. dc"ncd null tnd void iflhc sPplictblc fi'('d Intcrcsl Rotc .rcdt l.intefl percenl4gP in yr,tttsl Fm, You6 sinccrcly. Aulhorised signatory of Borrow€r r' ,lt " 112 SCHEDULE 5D - FORM OF RATE CONVERSION CONFIIMATTON lon,lgence Fmagitc d. Dt8lotFctn leu.rh.od] To: lthe Sorm\ct'l D.lc: [.] Rc: Ral. Convcrsioo Rcqucat n' [.] dllcd [.] Borrow.r'! N.mc- Cr.dit Ft.lllty Agr.cm.lt n'l.l d.t d l.l Rata Corv.rrlon Co!firlnaaioD Dol.l Dear Sirs. SlBMfi Convcrsion from a floating Idcrlst Rltc ro a fixcd lrlc.rsl Ratc l. Wc rrfcr to thc Crcdit Fscility Agrlaticr n'[.] rntcrld ioto bctwcan thc Bonol,cr a.d thc Lcr cI dated [.] (thc 'Agrc.m.rt'). C.pitalisrd words and cxpEssions uicd but noi dclin.d hcrcin hsvc th. mca ngg givo to lh.or in thc Agr!.rncrrt, 2. Wc ,cfrr slso lo you, Rrtc Convcrsion Rcquasl dltcd [.]. Wc conlim thlt thc fixcd Ir crlsl Ratc lpplicahlc to thc Drawdo\rn rcfcnrd lo in your Rltc ConvcGion Raqu.lt dclivarcd in .ccdd.rr. with Clausc 4.1 .3 (i, (Conee6ion fron a lloating lnQrcst Ra!. ,o o Itxed lntez t ,9dre) oflhc AgrEcmcnl is: . 3. 4. [.] p.rrnnum. This lixcd lntcrcst R.tq c.lculrtcd in .ccod{rcc with Claule 4.1,1 (S.lzclion ol Inwat Rare) will .pply to thc Drawdown rcfcrrcd in your Rdc Co[vcEion R.qu.sr from [a] (cffcclivc d.t.). Funhcr, wc nodry you rh.t lhc cffccliv. globGl ratc per .nnum of thc Facility is [o]%. Yours sinc€rcly, Authoris.d rcprcsentativ c of ,lgence Froncaisa de Diwloppenent (vA t13 SCHEDULE 6. INFORJTIATION THAT MAY BE PUALEHED OI{ THE --''- l. 2. FRENCH CovenNMBNT wEBslrE AND THE LENDER's wEBslrE tnform.tion rqrrding lhc P'ognm . Numb.! lnd nlmc in AFD'S book; - Ex@!d st&tint d!t.i C,cacriprioni Opctstint s6lor; Placcofimplamcnlalion; Slatus ofimpllnEntstion updat d on a 3'mi'tnnurl bssisi lnlbrmation rcSardinS, $. finsncinBoflhc Protnm - K ind of financint ( lo.n, gBnl' co_finincin& dclcSlrd funds); Principol amounl of lhc Ficility; Amount of lhc Fscitity which tts b"n dtawn doivn (updaEd ei dlc implcmcnlation of lha Pmgr8rn gocs). J. Olh.r informslion - lr'ns.clion informalion notict ancllor shccl Prcsrnling thc llsnst.lion stuchcd lo lhis Schdolc. 50 ., . \ ..1,1 " 11{ SCHEDULE GI - TRANSACTION IITFORMATIOTi NOTICE Suooori lo lh. En.rqv Sacaor R.form ofGcorEio Proicct cohlcxt rnd rtrst sic obi.ctiv.s l'oorly endowcd in lbssil rcsou.ccs, Gcorgia dcpcnds almost cxclusivcly on impotts as far as those 8re conccmcd. Thcy rcprescnt 78oZ of the c'ount.y's lotal enetgy colsump(ion' in sPitc ot il, hydropowcr rcprescnls 80% ofGcorgis clcctricily mix, bul with high v.ri.bility bclwcen the diifcrent scasons. This last sourc. of cn.r8y rcpr€scnts a hiSh Potcnli'l thal lhe Govemmcnt of Cco.gia wishcs to takc advantlgc of with $lc involvcmc of private stakeholdcrs. Thc Ceorgian demand for clectricity grcw on lvcrlgc oI 5.6% W yca' for lhc last yca's, while thclconomy was growing of 3.67r pcr yc8r. Although thc cncBy inlcnsity of thc country remains trigh, Ciorgia haa nol until rrc.ntly lsid rhc stntcgic, lcgislative and rcgutaiory groundwork ncclssary to thc Promotion ofcnergy cflicicncy' C.orgia has intcgralcd $r Encr&v Community in 2017, which implies for the- country a corhritrcnt to trantpo." th. Europctn r.gul8tions on cncrgy. This ncw mcmbe6hip is I hugc opponunity for Ccoigia to cstablish 8 wcll-l6a€d and consistcnt framcwork for iB clcctricily market. Ihe currcnt;ecd is to initistc thc dcvelopmcnt of encrgy cflicicncy, for it is at rhc time being missinS to thc countr)'s cconomy and il will sllow it !o sct ils.lf on thc right direction io commit to its objcctivcs sct wirhin thc fmmcwork ofParis Agrccment rs well as t0 continue developing its hydropower pot.ntial. Proiect aims spd cortent! 1lr. p.j*t It lt" f""t p"n of a Pogram which is slructurcd on thc basis of ! public policy nratrix comprising 36 reform riggcrs on 4 yclrs (from 2018 to 2021) snong which I I lor rhc ycar 2018. 'lle aims ofthe Progtarn arc to ac.omPary Ggotgia in its efforls to: (i) St.uctur. thc lcgal framcwork olthc encrgy .flicicnoy seclor ; (ir) Implcmcnt in a rcgulatory erd opcntivcly wEy Ihe 3d Enctgy Package ol lhe Europcan Union whil. looking tbrward to thc dcveloprncnl of cncrgy cflicicncy and thc integration of rcncw8blc sources ofcncrgy as a major pan ofthc Georgian .nergy mix. l'roiect ooer.toB and nodu3 ooarardi 'lhc Progrsm will hav. for public stskcholders lhc Miristry of economy and Susrainable oir"iopir*r, rcp.lscntinS tle Govcmmcnt of Gcorgia oo the opcratioml side ^and thc Ministrv of Financc on th; financisl contncling wil}l AFD and KfW, but also the Gcorgirn public lBnsmining puUfic itcctric;ty marker rcgulator (CNERC) 8s well as thc Ceorgian op€rator(GSE). lI order to support thc Covcrnmcnt ofGeors'ia in lhc implcmcntation of thc.rcforms lrigg'red one by ihe policy matrix. scvcral programmcs oi technhat assistance arc bcinE' implcmcnled: 115 funds its own financts corplcmcnlcd by dclcgatcd is oo€Blcd by Kf1V, on thc ground of aid-anothcr onc is finsncld bv AFD' ii":'ft;;;;;; ,i";" Cosa srd litrrttcing .l.hisororramissPolicyB8sedLo8n'rencwgblecvcryycsrforfourycars,co-financedbythc smount of 25 M EUR' M EUR and bv AFD with 'n bv AFD is linancrd with I Sr8nl of EUR Thc Drostam of technicsl sssistancc providcd bc tcchnical cxpcrtisc (FExrE) lnd ir could ro' -'"g'iiiory d#?ffi "*"riuno' 'na comtnission (CRE) and thc Frcnch imolcmcntcd bv EDF, th. f'"n'rt "nt'giycncr$/ (ADEME)' ""&1;,i;;;;;.i4e fi ;;;;;;i i*i .gin"i ior.n"iion."nt and Main alticil tcd clf.cts erc-rgy-cmciency 'llis D blic policy program shall allow Gcorgia rc initiatc a policysnoncncrS'ctic transition divcloomcnl 8nd lhus to rcinfotr' lls ""o-noln] una Agrllmcnt' trajcctory. fully compatiblc with rhc Paris lo commit into rwcrbcmlc EuroPesn Union will sllow Gcorgis lo Transposing thc 3rd Encrgy Packagc ofrh' also lo n"hutt "ontrattt tht finulconsumc6 and lha aclu!l cosls ofthc c*isring sll of thsl t "tot''ctry s"Jurc aJcrpcricnccd markct fnmeworlq reassure the privalc invcs(ors *irfr a ln thc long run' Gco4ia expc'cts to priccs of t"na uv rt'"t mcin to lowcr lhc whhoul sddilional costs for thc GoYcmm'nt of Gcoigia Hil HHffiil" consumers' ","r'"ie"t "r "lt"*i'itv' clcctricily lbr CcorBisn 52 r,il\ i .\.1 ' ' tt6 SCHEDULE 7. NON-EXHAUSTIVE LIST OF ENVIRONMf,NTAL AND SOCIAL DOCUMENTS WHICH THE BORROWER PERMITS TO BE DISCLOSED IN CONNECT'ON WITH f,S CRIEVANCI MANACEMENT PROCEDURES - .11 Environhcntal and Social System Aslcssmcnt (ESSA) oflhc Prognm Poverly ard social impact analysis Reporl on public consulEtion |7