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10peratiOn Numbcrs 35601,3 91 and 37801) T ACREEMEN「 cllts(as derlned herein) d Mulllclp● l WitrP可 「 Prolect) t Bnd BOrl● llli V twccn )RCIA and EAN BANK ON AND DEVELOPMENT V IJuly 2010 一 一 ヽ 一 一 l l AMENDNMNT AGREEMENT TO THE LOAN AGREEMENTS DEFINED HEREIN l l l This smendmenl aSrccmenl, dated ! :,rly Zoto lrhis "Agrcement")' is made betwecn GEORGIA ($e "Bormtr.r') 8nd the EUROPEAN BANK FOR RECONSTRLICTION AND DEVELOPMENI, an int.mational orgamsalion formed by rrcaty ("EBRD"). WHER-EAS: l (A) EBRD has bcen cstablished to plovide fiaancing for spccific projecls to fosler the l fansition lowatds opcn market orienrcd economics and to prcmote prit'ate and entreprcncurial initi61irc in thc CcoEsl and EisterD EuropcaD couotics committed to l (B) the Bonower cnlcred into a loan agtc{ment dated 15 Scptcmb€r 2006, as amendcd l and applying lhc prirciplcs of multiparty dcmocraty, pluralism and malket cconomics: irom ti-. to time, with tjBRD ('Poti l,o.n Agr.cEert"), pursuant to which EBRD\' Poli Lorn agxeed to lend to the Borowcr, on the Grms and subjecl to conditions of ('Pofi l,.tr"); A8reimcnl, an amounl not to oiceed EUR 2'500'000 (C) the Bonowcr cntcrcd into a loan sgrccmcnt dated l5 ScPtcmbs 2006, as amended l l l 」 1 iy Amendment Agreemcnt No. I datcd I May 2008 and Amendmcnt Agrcement No 2 iated 21 May 20i9, with EBRD ("Kutrid tnrD Agrcemeof'), plllsy"t !-.*hi:h t*a ,o thc Borroqer, oD thc lcrms and subject to condilions of Kutaisi annO "gr.ta'to ("Xut'i!i L'D"); Loan Agleemenr, an amount not to cr(cccd EUR l'0O0,000 (D) the Botrorwr enrcrcd into a loaD agrccmcnt darcd I Dccember 2008' at amended which io^ ti.. to time, with EBRD ("Borjooi Loeo Agr'cnlcnt"), pusuantoftoBorjomi iu'i{i;;r""d ,o l.ra ,o $c Bonowcr, on the tcrms snd subjrct lo conditioos ("Boriomi Lo'n")' (Poti Loaa Agrcement, an afiounl not to excccd EUR 1,500,000 io- e!i"".*,, ru,uisi lran Agreemcot &d Borjomi l'an Agreement are hcrcinafter togclhcr r€feIled to as thc "I,rn AgErEGnls"); ︱︱ ■ (E) the Botro\a'ct 8nd EBRD *'ish to amcnd thc Loan Agrcemcnts in c€nain rcspects lo t€flect the ch8nge of thc Project EDtity. ︐ NOW, THEREFORE, the P8ltics hcrcto agree as follows: Scation l. DcfiDilton! rDd lDlarprtbtioD (s) In this Agreement:' "Effcctivo Dele' lras rhc me.ning givcn in Scclion J ofthis Ag€emcnl' : l l l l l l (b) Terms defined in the Lo3n Agrrcmcnts (whether direcll)'or by referencc to any other ae:reemcnt or instIumeno shall, unlass otherwise defncd herein, have the sarnc meaning in this A5€'eme . The provisioos of Section 1.03 of Bodomi Loan AgrccmcDl shall havc cffccl 4s if set out in this A8recment in full, mutalis mutandis. (c) Each ofthe l,oan Agreemen6 and this Agrccmenl shall be rcrd and construcd as a single docuncut- Saction 2. AmcDdmeDa! , ' (a) With effect fiorn l.}|e Effcctivd Dale, (l) lhe refercnce to Poti 'l'skalkanali Ltd. in the thi.d paraSraph ofde Prcanble of Poti f-oan Agrccment shall bc rcplaccd with a referencc to "Unircd WEler Supply Company ofGeorgia" LLC; l l l (2) all rcferenc€s to the City of Poti in Poti Loan Agrecment, excepl for such rcferences contained (i) in the second paragaph of ihe Prcamble; (ii) in the definirior ofthe "Prioirity lnvcstncnt Prognrirne" containcd in Section 1.02; (iii) in Sections 4.01(c), 5.01(g) and 5.02(c)i and (iv) id Schedule I oI Poti Loan Agreemen! shall be replaced with rcferences to lhe Minisry of Regional Development and Infiustructure of Gcorgia: (3) the definition of ihc "Corpor.tc Development snd City Suppon Prograrnme" l l or "CDCSP' shall be deleted iD its cntir.ty from Scction 1.02 of Poti lran Agreement and it shall bc rcplaccd wili thc following and all the refcrcnces to thc 'Corporare Dcvclopmcnt and City Suppon Progtarme" or "CDCSP" firou8houl\ Agrecment shall be rcploced with rcfercnccs "CorpoIate Poti Delelopmeol Programme" or "CDP": lo lran 」 ""Corpoiate Development Programne" or "CDP" 」 mcans a prognmme designed 10 provide suppon to lhc Project Entily to enhance ils finarcial, op€rational and aunagerial ︱ p€rfomance. " ・ (4) the definition of ihe "Subsidiary lran ond Gu$antce Agrcemcnt" shall be deleted in its cntirety ftom Section 1.02 of Poti Loan Agrccment and it shall b( ユ replaced with the following and all lcfercnccs to the " Subsidiary l-oan and Guarantee Agreement" throughout Poti Loan Agrc'cment shall be replaccd with rcfercnces to ihe "On-l.nding Agreement": ""On-lending Agrcemcnt" mcaDs thc on-lending rg2Ecmcnt entcrcd into bct\rccn the Project Enri$ (as borrowcr) and thc Borro*er (os lendcr) pusuanr to Setlion 3.01(a), in form and substance satisfacto.y to tr Banl, as such on-lending agrEcrnent may\ bc arnerdcd fiom time lo time." ⁚ Ｉ ヽ Ｉ (5) the definition of the "Projcct Suppori Agreemcnt" shall bc delcled in ils cntirety 6om Scction 1.02 of Poti Loan Agrccment and i( shall b€ rcplaeed wilh lhc fbllo$ing Ｉ "Projcct Suppon Agecrnent" means lhe agEement b€t*,een the Bank and Ｉ thc Ministry of Regionsl Dcvclopment and ｌ lnfiusnucturc of Georgia proliding for cenain suppon undcrtakings by rhc latter, which agr€ement may be amended from lilne lo timc.' ｌ (6) the sddress of lhe Ministry of Fimnce of Ccorgia set out in Sccion 6.01 or' Poti L,oan Agreemcnl shall bc replaced with the followinS: "16, Golgasali Strcct, 0l l4 Tblisi, Georgia". 1 1 of Kulaisi Loan Agrr.ment shall be rcplsced with a rcferencc to "United Walcr Supply CompaDy of Geor8ia' LLC: such rcfcrcnccs contained (i) in th.6econd paraStsph offie PrealEble; (ii) in thc delinition of rh. "Prioirity Invcstmcnt PrcgrarDme" contained in Section 1.02; (iii) in Sections 5.01(f) 8nd 5.02(c); and (iv) i,l Schcdul. I ofKuuisi [,oan Agreerncot' １ (2) all refcrcncls lo the City of Kutaisi in KuEisi t an Agreemcol, excepr lor １ l (b) With cffcr! ftom thc Effectit'c Datc, (l) the rcfercnce to Kuttskhalkanali Ltd. io thc third paragaph ofthe Prcamblc\ shall bc rcplaccd wilh rtfcrcoces rc lhe Minislry of Rcgional Dcvclopment 8nd lnfrustructurc of GeorSia; １ (3) thc definition of the "Corpofatc Development and Itnplcmenradon Suppon Programme" or "CDISP' shall bc dclclcd in its cntirely iom Seclion 102 o1' Kulsisi l.ran Agreemcnt and il shall be replarcd with the following and all rhc １ refereDces to lhc "Corporate DcveloPmcnl and Impleteniation Suppon Programme" ot "CDISP" throuShoul Kutaisi [r.n Agreemcnt shall be replaced with rcfcrenacs [o "Corporatc Devclopment Prognmme'' or "CDP": １ ""Corporatc DcvaloPD€nt Prograrnmc' oa 'CDP' mcatrs a paoSn rtne designcd lo Providc\. suPpon b the Projcct Eotity to cnhaoce its ︐ １ finalcial, opcrational ard managerial ■ pcrformancc." (4) the defiDition of the 'Subsidiary Loan snd Guarant€€ Agrecmc ' sball bc delctcd in its entircry lrom section I.02 ofKutaisi L,oar Altccmenl and it shallbc rcplsccd $ith the following and all lEfctcDccs to thc "Subsidia4'Loan ar GuaranEc Aerccmcnt" thmuShod Kdaisi Loan Agrcemcnl shall bc replaced wilh references to the "On-lending A8rcemcnt": '"OnJending Agreemenl" means lhc onJcnding alrecmenl cntcrcd into bctwcen the Projcct Enlily (ss bonowcr) and ｌ ｌ ｌ the Bono{'er (as lender) Pusuant to Section 3.01(a). in form and subslancc satisfactory to the Bank, as such onJending a8'eemcnl may be afleided &om timc to time " Ｉ (5) (hc definition of the "Proiccl Suppon A$ccment" shall bc -deleted in iis *iirety fiom S.clion 1 02 of Kutaisi t an Ag&€me aDd it shatl bc tcplaced with the follouirtg Ｉ ""Projecl Support A8rcemenl" ,il"-, ,h" ugr""lnen, between the Bank and ｌ the Mininry ol Resional Dcvclopmcnl and Infiustructurc of G.orgia providing for ccnain support undenakings by lhe latrcr, which aSre.mcnt may bc amerded fiom time lo ｌ time." (6) Sectior 4.ol(c) ofKulaisi Loan A8reemet shall be deleted in its cnticty aod ︱ shall be replaccd with the following; ︱ "(c) The Mi[istr-v of Regional DevcloPment and Infnrstnrdure of Gcorgia shall harc failca to perfomr any of its obligalions undcr $e hoj'ct Suppon Agrc€ment." (7) rhe address of the Ministry of Finance of Georgia s€t out in Secion 6 01 of iiir"l.i f-o- Agt€€merl shdl be replaced wit} the following: "16' Gorgasali Slreeq 0l l4 Tblisi, Georgia" (c) With cfltct flom the Eflicdve Datc, \ Ltd in thc I I ) $e rcfercncc 10 Boriomis Tskalsaden-Kanalizatsiis Meurneoba bc replaced *ira p"-e.ptt of the Prcamblc of Boiomi l,oan 4q*t:'l:!lt CoEpany ofGcorgia" LLC; with a rcIe-rcnce to "United water supply t7r all references lo $e Boriomi Municpaliry in Borjomi t,oan Ageemcnl' i*""pi fo..u"h."f.t nccs contained (i) in the sccond paragraph of$: rn lt?tlk' scclron conuined (ii) in the dcfinition ofthe "Prioirity lnvestsncnt Progrtmme" i-Lij;'-a fiill ln s"f,"aule I of Borjomi Loan Agreem'nt, 6hall t€ rcptaced *ith ,"iJ"r""rio if,a rtmi,try ofRegional Dcveloptlcnt and lnf-rusltucturc ol Geotgia; (3) all lcfercnces to the Ministry ofEconomic Dev'lopmcnl ofGeorgia throughl Borjomi lran A!trccmenl shall be delclcdl Proerammc" I.l) $€ dcfinition ofrhe "Corporore Devclopmcnl and Clly SuPPonBoiomi Loan .r'"COCSp" shall bc deleted in ils enlireq from Scclion l'02 of lhc io..ement and it shall bc rcplaccd \aith the Iollowing snd 'll th€ refercnces to ;i"""'"il p.*r"n-"nt and city Suppon Progr8mme" or "CDCSP" throughoul B#;i ;"" Aireement shali bc rcplaced r*'itlr refcrcnces io'cory{rale Development Programme" or "CDP": I t \ ""Corporate Dcvelopmcnt I Programme" or "CDP" mcat$ a progranoe dcsigned to provide suppofl to the projecl Entity to enhsnce its financial, opcrstioDal and rnanagerial I pcrfonnance.,, ︱ (5) thc dcfinilion of thc ,,On-lcnding aDd Guarantce AgEcmcnt' shall be dclcted in its entirct] fiom Seclion 1.02 of Borjomi t an ASreetnc aod h shall be replaccd with rhe followiog and all rcfelloccs to thc ⁚ "On-lcnding and Guaraatee AgrEmcnt" throughoul Borjomi Loao Agrecmcnl shall be ,eplaced with referencrs lo the 'OnJcnding Agrccmelt': I I -l I I ""OnJcndirg Agrcrmcnt' rucans thc onJending agreemcnt €nlercd inlo bclwen lhc proj€ct Enrity (as bonower) and the Borowel (as lcndcr) pursuant ro Scction 3.01(a), in form and subst nce sadsfaclory to the Bank, as such on-lcoding agrccmenl may b€ omended iom timc to iime." (6) the dcfinition of tbe "Project Suppon Agccmcnf, sh.ll b€ delercd in irs cntireo from Se.tioo 1.02 of Borjomi Lan ASrrcment and it shall be rcplac€d with thc followin8 "''Project Suppon Agreemcnt" mcans th€ aSrccmenl belwccn the Banl and lhe Ministry of Rcgional Developmcnr End I lnfrustructurc of Georgia providing for ccnain support undcnalings by thc laller, which aSrccmeni ,nay be amendcd fom lime to time." I (7) Scction 5.02(c) of Borjomi t-oan Ageemcnr shall b. delctcd in irs cntiret, and shall bc rcplac.d lrith thc following: I ︶・ "(c) lD addition to the opinion or opioions of counsels lo be givcn on behalf oftlc Bo.row.r aid thc Projcct Entity to lhe BanI, the Baalt shall be fumished $ith a l.gal opinion showing that, on behatf of th€ Ministr), of ReSional Development and lnfrustructurc of Gcorgis, thc Project Support\. Agrccmcot has bcln duly suftorised or r8iificd by, and cxecuted ond dclivcrcd on b.half ol drc Mirislry of Rcgional Developmcnr and lofiust ucturc of Gcorgia .nd constirules a va.lid and le8ally bindinS obligation of thc Ministry of Rcgional Dcvelopmenl and Infrustructure of Ceorgia, cnforccablc in accordancc $rith its icrms." (d) The pmvisions of rhc toan AgrEcmcnts shall, savc as a$coded by this Agreemcnt. continuc in full forca and ellccl. 6 ⁚ Ｅ Sectioo 3, Ellective lhte TheEffcctivcDareshallb€th.datronwhichlhefollowinSco,ditionspircedentshall in i"* U".i *i.f"a *, in the sole discrction of EBRD waived' whcther in whole or pan: have becB ll) cvideDc€, in form and subslaDce salisfactory lo EBRD' shall Agr€etnent on behslf of the tu-iril ,;ili6';;i the cxecution and delivery of this ncc'ssary govelnmcnlal acllon: Bonower have bcerl duly authoriscd or rati''ied by all and ●■■ to EBRD' shall havc heen I2l cvidence, in form aad substancc salisfactory Prcjecr Agreem'nt.on behalf fr-irit.i ;;;il ;; rie .*.curion sod aeti'cry ofthe plj". ir,itv -d lhe execution and delivery of-rhe-ftojcct supry1A{f?^"-"' ol oeorgla n6ve "i,i" on betratf of the t-linistry of ReSiona'l DcveloPmcnt and lnfiustruclur ロー● L -ti"a uv all ncccssar)' sovemmental' corpomtc and il;;;ir:';;;;; adminisrative action. Scctiotr 4. L.g.l OpiDiotrs the Borlower' the As Dart of the evidencc to be fumishcd pulsuant to Scction 3 Ebovc' Entit) Developmenr and infrusmcture of Gcorgia and thc Project ffi;;;in:il;i iliiiil:;:;?.;; (in form and io b" f,-hr'"a' to EBRD an opinion ot opinions .ri.,-"|*ii.f*a"y,o EBRD), of counsel acceptlble to EBRD' showing thatl ︱ ︱● ■ ｌ ● auihoriscd or ratified by' rat on behatf of the Borower, rhis Agccmcll has beeD duly a"rir.'"a o, uhalioi rhe Borower and constilutcs 6 vslid and lla.;;d; \Ilth l$ lerms' lccallv bindinr oblitalion of the Bonowcr. enforccable in accotdance '#;irp.rffi ih"'s;;on. the opinion or opinions of couos€l shall bc givcn on behalf oi ih'. fiorrorr., tv rtt" vinistry ofJusticc :￨ ofGeo4ic' rhr On bchalfot rhe Ministr] ofRegional Dcv€lopment and lnfrusuuclurc bv' ,nd cxecured and li: ;;;;;;;-A;;;nihus b'-'n d"lv autl'oriscd or tatified Iniiusnucture of I.rrr.# .r-ili"ii .T irt" uiri,,tv of Rigional Dev'lopmcnt and and lcgaliv binding obligation of *", Ylli:y" uith its ""ria " ""..ii*"t and Infrustructurc ;f Georgia, enforccable in accordance fr"giiirf n * ililaii ""f.prn*, terms. ヽ ・■■ 1 ● tlrc On'lcnding rc) On bchalf of lhe Prcjecl Enliry, the Ptojccl Agreement andand dchvered- on excclrt'd Agreemcnls have been duly authorised or ralificd by' and '*irri"i ofthc obligtion binding gndg:and constitutes a valid and legallv irt"'p-i*, ︱︱ Proicct Enlity, enfotc€able in accordance with its tcrms' し Scction 5. Furtbcr Asiuntraes ︱ し Thc Bonower shall, al the request ofEBRD and at its o\ n cxpensc' ,hi;;;;;;"tt",y "ti".irable pursuant to this Agrcemeot. do 8ll such acts and io give cfl'crt to rhc arnendrnents clfeclcd or to be cffecled I I Scctioit I I I 6. Miscclleocour \ (a) All the provisions ofthe Standsrd Tcrlns and CotditioDs dalcd I Octobcr 2007 are hereby incorpomted irto snd madc applicablc !o this Agrrrment with the ssmc forcc and effecl ifthcy werc firlly sci fonh b.rcin. (t) All rcfcrEnces ro 'thc Agreement" iD thc I,oa,l AgEcments ard sll rlferencc to the Lan Agrecmc s i! all instrune s oad oglcEcnrs axccutcd the.curdcr shall rcfcr to the lran Agrccmcnts as sm.ndcd by lhis 4gtlcment. I (c) This Agreemenl may bc cxcculcd in sevcml countcrparts, each of which shall be I agreemcnl. deemed an original, but sll of which together shall constirure onc and ihe samc I I I I I I I i ヽ IN WiTNESS WHEREOF,thc Pふ ics hereto,actlng thrOugh thelr duly authoriscd rcprescntatives, ha、 c causcd uns Agrccmcnt to be cxccutcd and dclivcred on thc date rlrst above wntten GEORCIA´ ´´ /´ : : : Nolne: Title: 訓嚇G鯛 h EUROPEAN BANK FOR RECONSTRUCT10N AND DEVELOPMEヽ T : : : V 辮i徴汐翼 vル : I ヽ I I V I I I I : ヽ I I 9