[currency and amount in numbers] FACILITY AGREEMENT
dated [
]
for
[NAME OF BORROWER] [NAME OF GUARANTOR] acting as Guarantor arranged by [NAME OF ARRANGERS]
wit
[NAME OF AGENT] acting as Agent
[NAME OF LAW FIRM] The Asia Pa cif c Loa n Mar ket Assoc iat ion con sents to the use, repro ducti on and transmission o this document by members o the Asia Pacifc Loan Market Association or the prepar ati on and do cum entat ion o agr eements relati ng to tra nsa cti ons or potential trans actio ns in the loan mark ets. This docu ment may be reprod uced and transmitted in template orm to non-members o the Asia Pacifc Loan Market Association in hard copy only. The Asia Pacifc Loan Market Association does not consent to the use, reproduction or transmission o this docum ent or any other purpose , in any other manner or by any other person and expressly reseres all other rights. The Asia Pacifc Loan Market Association ackno!ledges that this document is based, !ith the permission o the Loan Market Association, on the recommended orm o acility agreement o the Loan Market Association. "opyright in this document is ested in the Asia Pacifc Loan Market Association.
"#$T%$T&
"LA'&%
PA(%
&ection )!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! " *nterpretation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! " "!
#e$nitions And Inter%retation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! "
&ection +!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! "& The acility!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! "& '!
Te Faci(ity!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! "&
)!
*ur%ose!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! "&
+!
Conditions ,f -ti(isation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! "&
&ection !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! "' 'tilisation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! "' .!
-ti(isation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! "'
&ection !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ") /epayment, Prepayment And "ancellation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!") /!
Re%ay0ent!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ")
1!
*re%ay0ent And Cance((ation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ")
&ection 0!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! "/ "osts # 'tilisation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"/ 2!
Interest!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! "/
3!
Interest *eriods!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! "1
"&!
Canges To Te Ca(cu(ation ,f Interest!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"2
""!
Fees!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! "3
&ection 1!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! '& Additional Payment #bligations!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! '& "'!
Ta4 Gross -% And Inde0nities!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! '&
")!
Increased Costs!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ''
"+!
Mitigation 5y Te Lenders!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ')
".!
,ter Inde0nities!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! '+
"/!
Costs And E4%enses!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! '.
&ection 2!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! '/ (uarantee!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! '/ "1!
Guarantee And Inde0nity!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! '/
6i6
&ection 3!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! '3 /epresentations, 'ndertakings And %ents # 4eault!!!!!!!!!!!!!!!!!!!!!!!!!!!!! '3 "2!
Re%resentations!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! '3
"3!
Infor0ation -nderta7ings!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!)"
'&!
Financia( Co8enants!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ).
'"!
Genera( -nderta7ings!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ).
''!
E8ents ,f #efau(t!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! )3
&ection 5!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! +) "hanges To Parties!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! +) ')!
Canges To Te Lenders!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!+)
'+!
#isc(osure ,f Infor0ation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! +.
&ection )6!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! +1 The inance Parties!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!+1 '.!
Ro(e ,f Te Agent And Te Arranger!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! +1
'/!
9aring A0ong Te Finance *arties!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! .'
&ection ))!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! .+ Administration!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! .+ '1! '2!
*ay0ent Mecanics!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! .+ 9et6,:!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ./
'3!
Notices!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ./
)&!
Ca(cu(ations And Certi$cates!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!.2
)"!
*artia( In8a(idity!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!.2
)'!
Re0edies And ;ai8ers!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! .3
))!
A0end0ents And ;ai8ers!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! .3
)+!
Counter%arts!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! .3
&ection )+!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! /& (oerning La! And %norcement!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! /& ).!
Go8erning Law!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! /&
)/!
Enforce0ent!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!/&
9cedu(e " T
6 ii 6
9cedu(e . F,RM ,F C,M*LIANCE CERTIFICATE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! /2 9cedu(e / E>I9TING 9EC-RITY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! /3 9cedu(e 1 TIMETA5LE9!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 1&
6 iii 6
T7*& A(/%%M%$T is dated [
] and 0ade between?
@"
[
] @te B8orro!erB
@'
[
] @te B(uarantorB
@)
[ ] [and [ te BArrangerB
@+
T7% *$A$"*AL *$&T*T'T*#$& (isted in 9cedu(e " @ The Oriina!
@.
Lenders as (enders @te B #riginal LendersB and [ ] as agent of te Finance *arties @oter tan itse(f @te BAgentB!
]] @[weter acting indi8idua((y or togeter]
*T *& A(/%%4 as fo((ows? &%"T*#$ ) *$T%/P/%TAT*#$ ).
4%*$*T*#$& A$4 *$T%/P/%TAT*#$
"!"
4efnitions In tis Agree0ent? BA9liateB 0eansD in re(ation to any %ersonD a 9ubsidiary of tat %erson or a
an autorisationD consentD a%%ro8a(D reso(utionD (icenceD e4e0%tionD $(ingD notarisationD (odge0ent or registration or
@b
in re(ation to anyting wic wi(( be fu((y or %art(y %roibited or restricted by (aw if a Go8ern0ent Agency inter8enes or acts in any way witin a s%eci$ed %eriod after (odge0entD $(ingD registration or noti$cationD te e4%iry of tat %eriod witout
inter8ention or action! BAailability PeriodB 0eans te %eriod fro0 and inc(uding te date of tis Agree0ent to and inc(uding [ ]! BAailable "ommitmentB 0eans a Lenders Co00it0ent 0inus? @a
"
te a0ount of its %artici%ation in any outstanding Loans and
6 1& 6
@b
in re(ation to any %ro%osed -ti(isationD te a0ount of its %artici%ation in any Loans tat are due to be 0ade on or before te %ro%osed -ti(isation #ate!
BAailable acilityB 0eans te aggregate for te ti0e being of eac Lenders A8ai(ab(e Co00it0ent! B8reak "ostsB 0eans te a0ount @if any by wic? @a
te interest wic a Lender sou(d a8e recei8ed %ursuant to te ter0s of tis Agree0ent for te %eriod fro0 te date of recei%t of a(( or any %art of te %rinci%a( a0ount of a Loan or -n%aid 9u0 to te (ast day of te current Interest *eriod in res%ect of tat Loan or -n%aid 9u0D ad te %rinci%a( a0ount or -n%aid 9u0 recei8ed been %aid on te (ast day of tat Interest *eriod
e4ceeds? @b
te a0ount of interest wic tat Lender wou(d be ab(e to obtain by %(acing an a0ount eua( to te %rinci%a( a0ount or -n%aid 9u0 recei8ed by it on de%osit wit a (eading ban7 in te Re(e8ant Interban7 Mar7et for a %eriod starting on te 5usiness #ay fo((owing recei%t or reco8ery and ending on te (ast day of te current Interest *eriod!
B8usiness 4ayB 0eans a day @oter tan a 9aturday or 9unday on wic ban7s are o%en for genera( business in London [and
in re(ation to an ,rigina( LenderD te a0ount set o%%osite its na0e under te eading B Co00it0entB in 9cedu(e " @ The Oriina! Lenders and te a0ount of any oter Co00it0ent transferred to it under tis Agree0ent and
@b
in re(ation to any oter LenderD te a0ount of any Co00it0ent transferred to it under tis Agree0entD
to te e4tent not cance((edD reduced or transferred by it under tis Agree0ent! B"ompliance "ertifcateB 0eans a certi$cate de(i8ered %ursuant to C(ause "3!' @ "om#!iance "erti$cate and signed by [two directors]H [two senior ocersD one of wo0 sa(( be te cief $nance ocer or $nance director] of te 5orrower [substantia((y in te for0 set out in 9cedu(e . @Form o% "om#!iance "erti$cate]H[in for0 and substance satisfactory to te Agent]!
"
6 1& 6
B"onfdentiality 'ndertakingB 0eans a con$dentia(ity underta7ing substantia((y in a reco00ended for0 of te A*LMA or in any oter for0 agreed between te 5orrower and te Agent! B4eaultB 0eans an E8ent of #efau(t or any e8ent or circu0stance s%eci$ed in C(ause '' @E&ents o% 'e%au!t wic wou(d @wit te e4%iry of a grace %eriodD te gi8ing of noticeD te 0a7ing of any deter0ination under te Finance #ocu0ents or any co0bination of any of te foregoing be an E8ent of #efau(t! [B%nironmental "laimB 0eans any c(ai0D %roceeding in8estigation by any %erson in res%ect of any En8iron0enta( Law!
or
B%nironmental La!B 0eans any a%%(icab(e (aw in any Jurisdiction in wic any 0e0ber of te Grou% conducts business wic re(ates to te %o((ution or %rotection of te en8iron0ent or ar0 to or te %rotection of u0an ea(t or te ea(t of ani0a(s or %(ants! B%nironmental PermitsB 0eans any Autorisation and te $(ing of any noti$cationD re%ort or assess0ent reuired under any En8iron0enta( Law for te o%eration of te business of any 0e0ber of te Grou% conducted on or fro0 te %ro%erties owned or used by te re(e8ant 0e0ber of te Grou%!] " [B%'/*8#/B 0eansD in re(ation to any Loan? @a
te a%%(icab(e 9creen Rate or
@b
if no 9creen Rate is a8ai(ab(e for te Interest *eriod of tat LoanD te arit0etic 0ean of te rates @rounded u%wards to four deci0a( %(aces as su%%(ied to te Agent at its reuest uoted by te Reference 5an7s to (eading ban7s in te Euro%ean interban7 0ar7etD
as of te 9%eci$ed Ti0e on te =uotation #ay for wic an interest rate is to be deter0ined for te o:ering of de%osits in euro for a %eriod co0%arab(e to te Interest *eriod of te re(e8ant Loan!] B%ent o 4eault B 0eans any e8ent or circu0stance s%eci$ed as suc in C(ause '' @E&ents o% 'e%au!t! BacilityB 0eans te ter0 (oan faci(ity 0ade a8ai(ab(e under tis Agree0ent as described in C(ause ' @The Faci!ity! Bacility #9ceB 0eans te oce or oces noti$ed by a Lender to te Agent in writing on or before te date it beco0es a Lender @orD fo((owing tat dateD by not (ess tan $8e 5usiness #ays written notice as te oce or oces troug wic it wi(( %erfor0 its ob(igations under tis Agree0ent! "
"
Insert if en8iron0enta( co8enants are inc(uded!
6 1& 6
Bee LetterB 0eans any (etter or (etters dated on or about te date of tis Agree0ent between te Arranger and te 5orrower @or te Agent and te 5orrower setting out any of te fees referred to in C(ause "" @Fees! Binal /epayment 4ateB 0eans [
]'!
Binance 4ocumentB 0eans tis Agree0entD any Fee LetterD any Transfer Certi$cate and any oter docu0ent designated as suc by te Agent and te 5orrower! Binance PartyB 0eans te AgentD te Arranger or a Lender! Binancial *ndebtednessB 0eans any indebted ness for or in res%ect of? @a
0oneys borrowed
@b
any a0ount raised by acce%tance under any acce%tance credit faci(ity
@c
any a0ount raised %ursuant to any note %urcase faci(ity or te issue of bondsD notesD debenturesD (oan stoc7 or any si0i(ar instru0ent
@d
te a0ount of any (iabi(ity in res%ect of any (ease or ire %urcase contract wic wou(dD in accordance wit GAA*D be treated as a $nance or ca%ita( (ease
'
"
@e
recei8ab(es so(d or discounted @oter tan any recei8ab(es to te e4tent tey are so(d on a non6recourse basis
@f
any a0ount raised under any oter transaction @inc(uding any forward sa(e or %urcase agree0ent a8ing te co00ercia( e:ect of a borrowing
@g
any deri8ati8e transaction entered into in connection wit %rotection against or bene$t fro0 Kuctuation in any rate or %rice @andD wen ca(cu(ating te 8a(ue of any deri8ati8e transactionD on(y te 0ar7ed to 0ar7et 8a(ue sa(( be ta7en into account
@
any counter6inde0nity ob(igation in res%ect of a guaranteeD inde0nityD bondD standby or docu0entary (etter of credit or any oter instru0ent issued by a ban7 or $nancia( institution and
@i
te a0ount of any (iabi(ity in res%ect of any guarantee or inde0nity for any of te ite0s referred to in %aragra%s @a to @ abo8e!
Insert te $na( Re%ay0ent #ate!
6 1& 6
B(AAPB 0eans genera((y acce%ted accounting %rinci%(es in [
]!
B(oernmental Agency B 0eans any go8ern0ent or any go8ern0enta( agencyD se0i6go8ern0enta( or Judicia( entity or autority @inc(udingD witout (i0itationD any stoc7 e4cange or any se(f6 regu(atory organisation estab(ised under statute! B(roupB 0eans te [5orrowerHGuarantor] and its 9ubsidiaries for te ti0e being! B7olding "ompanyB 0eansD in re(ation to a co0%any or cor%orationD any oter co0%any or cor%oration in res%ect of wic it is a 9ubsidiary! B*ndirect TaxB 0eans any goods and ser8ices ta4D consu0%tion ta4D 8a(ue added ta4 or any ta4 of a si0i(ar nature! [B*normation MemorandumB 0eans te docu0ent in te for0 a%%ro8ed by te 5orrower concerning te Grou% wicD at te 5orrowers reuest and on its bea(fD was %re%ared in re(ation to tis transaction and distributed by te Arranger to se(ected $nancia( institutions [during [ ]]H[before te date of tis Agree0ent]!] B*nterest PeriodB 0eansD in re(ation to a LoanD eac %eriod deter0ined in accordance wit C(ause 3 @Interest (eriods andD in re(ation to an -n%aid 9u0D eac %eriod deter0ined in accordance wit C(ause 2!) )'e%au!t interest*+ BLenderB 0eans? @a
any ,rigina( Lender and
@b
any %erson wic as beco0e a *arty in accordance wit C(ause ') @"hanes to the LendersD
wic in eac case as not ceased to be a *arty in accordance wit te ter0s of tis Agree0ent! [BL*8#/B 0eansD in re(ation to any Loan? @a
te a%%(icab(e 9creen Rate or
@b
if no 9creen Rate is a8ai(ab(e for [do((ars]H[euros]H[oter] for te Interest *eriod of tat LoanD te arit0etic 0ean of te rates @rounded u%wards to four deci0a( %(aces uoted by te Reference 5an7s to (eading ban7s in te London interban7 0ar7et @as su%%(ied to te Agent at its reuestD
as of te 9%eci$ed Ti0e on te =uotation #ay for wic an interest rate is to be deter0ined for te o:ering of de%osits in [do((ars]H[euros]H [oter] and for a %eriod co0%arab(e to te Interest *eriod for tat Loan!]
"
6 1& 6
BLoanB 0eans a (oan 0ade or to be 0ade under te Faci(ity or te %rinci%a( a0ount outstanding for te ti0e being of tat (oan! BMa:ority LendersB 0eans? @a
if tere are no Loans ten outstandingD a Lender or Lenders wose Co00it0ents aggregate 0ore tan [//'H )] of te Tota( Co00it0ents @orD if te Tota( Co00it0ents a8e been reduced to eroD aggregated 0ore tan [// 'H )] of te Tota( Co00it0ents i00ediate(y %rior to te reduction or
@b
at any oter ti0eD a Lender or Lenders wose %artici%ations in te Loans ten outstanding aggregate 0ore tan [//'H )] of a(( te Loans ten outstanding!
BMarginB 0eans [
] %er cent! %er annu0!
BMaterial Aderse %;ectB 0eans a 0ateria( ad8erse e:ect on @a te businessD o%erationsD %ro%ertyD condition @$nancia( or oterwise or %ros%ects of te Grou% ta7en as a wo(e @b te abi(ity of any of te ,b(igors to %erfor0 its ob(igations under te Finance #ocu0ents or @c te 8a(idity or enforceabi(ity of tis Agree0ent or te rigts or re0edies of any Finance *arty under te Finance #ocu0ents! BMonthB 0eans a %eriod starting on one day in a ca(endar 0ont and ending on te nu0erica((y corr es%onding day in te ne4t ca(endar 0ontD e4ce%t tat? @a
subJect to %aragra% @c be(owD if te nu0erica((y corres%onding day is not a 5usiness #ayD tat %eriod sa(( end on te ne4t 5usiness #ay in tat ca(endar 0ont in wic tat %eriod is to end if tere is one D or if tere is not D on te i00ediate(y %receding 5usiness #ay
@b
if tere is no nu0erica((y corres%onding day in te ca(endar 0ont in wic tat %eriod is to endD tat %eriod sa(( end on te (ast 5usiness #ay in tat ca(endar 0ont and
@c
if an Interest *eriod begins on te (ast 5usiness #ay of a ca(endar 0ontD tat Interest *eriod sa(( end on te (ast 5usiness #ay in te ca(endar 0ont in wic tat Interest *eriod is to end!
Te abo8e ru(es wi(( a%%(y on(y to te (ast Mont of any %eriod! B#bligorsB 0ean te 5orrower and te Guarantor and B #bligorB 0eans eac one of te0!
"
6 1& 6
B#riginal inancial &tatementsB 0eans? @a
in re(ation to te [5orrowerHGuarantor]D te audited conso(idated $nancia( state0ents of te Grou% for te $nancia( year ended [ ] and
[@a
in re(ation to te 5orrowerD its audited $nancia( state0 ents for its $nancia( year ended [ ]!]
BParticipating Member &tate B 0eans any 0e0ber state of te Euro%ean Co00unities tat ado%ts or as ado%ted te euro as its (awfu( currency in accordance wit (egis(ation of te Euro%ean Co00unity re(ating to Econo0ic and Monetary -nion! BPartyB 0eans a %arty to tis Agree0ent! B
]!
[B/epayment *nstalmentB 0eans [
]!]
[B/epeating /epresentations B 0eans eac of te re%resentations set out in C(auses "2![ ]D "2![ ] and "2![ ]!] B&creen /ate B 0eans [te 5ritis 5an7ers Association Interest 9ett(e0ent Rate for [do((ars]H[euro]H[oter] for te re(e8ant %eriod]H[te %ercentage rate %er annu0 deter0ined by te 5an7ing Federation of te Euro%ean -nion for te re(e8ant %eriod] dis%(ayed on te a%%ro%riate %age of te [Te(erate]H[Reuters]H[5(oo0berg] screen! If te agreed %age is re%(aced or ser8ice ceases to be a8ai(ab(eD te Agent 0ay s%ecify anoter %age or ser8ice dis%(aying te a%%ro%riate rate after consu(tation wit te 5orrower and te Lenders!
"
6 1& 6
B&ecurityB 0eans a 0ortgageD cargeD %(edgeD (ien or oter security interest securing any ob(igation of any %erson or any oter agree0ent or arrange0ent a8ing a si0i(ar e:ect! B&election $oticeB 0eans a notice substantia((y in te for0 set out in *art II of 9cedu(e ) @ Re-uests gi8en in accordance wit C(aus e 3 @Interest (eriods! B&pecifed TimeB 0eans a ti0e deter0ined in accordance wit 9cedu(e 1 @Timetab!es! B&ubsidiaryB 0eans [a subsidiary witin te 0eaning of section 1)/ of te Co0%anies Act "32.]H[a subsidiary underta7ing witin te 0eaning of section '.2 of te Co0%anies Act "32.]H[D in re(ation to any co0%any or cor%orationD a co0%any or cor%oration? @a
wic is contro((edD direct(y or indirect(yD by te $rst 0entioned co0%any or cor%oration
@b
0ore tan a(f te issued euity sare ca%ita( of wic is bene$cia((y ownedD direct(y or indirect(yD by te $rst 0entioned co0%any or cor%oration or
@c
wic is a 9ubsidiary of anoter 9ubsidiary of te $rst 0entioned co0%any or cor%orationD
and for tis %ur%oseD a co0%any or cor%oration sa(( be treated as being contro((ed by anoter if tat oter co0%any or cor%oration is ab(e to direct its a:airs andHor to contro( te co0%osition of its board of directors or eui8a(ent body]H[ ]! [BTA/(%TB 0eans Trans6Euro%ean Auto0ated 9ett(e0ent E4%ress Transfer %ay0ent syste0!]
Rea(6ti0e
Gross
[BTA/(%T 4ayB 0eans any day on wic TARGET is o%en for te sett(e0ent of %ay0ents in euro!] BTaxB 0eans any ta4D (e8yD i0%ostD duty or oter carge or wito(ding of a si0i(ar nature @inc(uding any %ena(ty or interest %ayab(e in connection wit any fai(ure to %ay or any de(ay in %aying any of te sa0e! BTotal "ommitmentsB 0eans te aggre gate of te Co00it 0ents being [ ] at te date of tis Agree0ent! BTranser "ertifcateB 0eans a certi$cate substantia((y in te for0 set out in 9cedu(e + @ Form o% Trans%er "erti$cate or any oter for0 agreed between te Agent and te 5orrower! BTranser 4ateB 0eansD in re(ation to a transferD te (ater of?
"
6 1& 6
@a
te %ro%osed Transfer #ate s%eci$ed in te Transfer Certi$cate and
@b
te date on wic te Agent e4ecutes te Transfer Certi$cate!
B'npaid &um B 0eans any su0 due and %ayab(e but un%aid by an ,b(igor under te Finance #ocu0ents! B'tilisationB 0eans a uti(isation of te Faci(ity! B'tilisation 4ateB 0eans te date of a -ti(isationD being te date on wic te re(e8ant Loan is to be 0ade! B'tilisation /e=uestB 0eans a notice substantia((y in te for0 set out in *art I of 9cedu(e ) @Re-uests! "!' @a
"onstruction -n(ess a contrary indication a%%earsD any reference in tis Agree0ent to? @i
te B AgentBD te B ArrangerBD any B inance PartyBD any BLenderBD any B #bligorB or any B PartyB sa(( be construed so as to inc(ude its successors in tit(eD %er0itted assigns and %er0itted transferees
@ii
BassetsB inc(udes %resent and future %ro%ertiesD re8enues and rigts of e8ery descri%tion
@iii
[te B%uropean interbank market B 0eans te interban7 0ar7et for euro o%erating in *artici%ating Me0ber 9tates]
@i8
a B inance 4ocumentB or any oter agree0ent or instru0ent is a reference to tat Finance #ocu0ent or oter agree0ent or instru0ent as a0ended or no8ated
@8
BindebtednessB inc(udes any ob(igation @weter incurred as %rinci%a( or as surety for te %ay0ent or re%ay0ent of 0oneyD weter %resent or futureD actua( or contingent
@8i
a BpersonB inc(udes any %ersonD $r0D co0%anyD cor%orationD go8ern0entD state or agency of a state or any associationD trust or %artnersi% @weter or not a8ing %ersona(ity or two or 0ore of te foregoing
@8ii
"
se%arate
(ega(
a BregulationB inc(udes any regu(ationD ru(eD ocia( directi8eD reuest or guide(ine @weter or not a8ing te force of (aw of any go8ern0enta(D intergo8ern0enta( or su%ranationa( bodyD agencyD de%art0ent or regu(atoryD se(f6regu(atory or oter autority or organisation
6 1& 6
@8iii
a %ro8ision of (aw is a reference to tat %ro8ision as a0ended or re6enacted and
@i4
a ti0e of day is a reference to [
@b
9ectionD C(ause and 9cedu(e eadings are for ease of reference on(y!
@c
-n(ess a contrary indication a%%earsD a ter0 used in any oter Finance #ocu0ent or in any notic e gi8en under or in connection wit any Finance #ocu0ent as te sa0e 0eaning in tat Finance #ocu0ent or notice as in tis Agree0ent!
@d
A #efau(t @oter tan an E8ent of #efau(t is B continuingB if it as not been re0edied or wai8ed and an E8ent of #efau(t is B continuingB if it as not been [re0edied or wai8ed]H[wai8ed]!
@e
;ere tis Agree0ent s%eci$es an a0ount in a gi8en currency @te Bspecifed currencyB Bor its e=uialent BD te B e=uialentB is a reference to te a0ount of any oter currency wicD wen con8erted into te s%eci$ed currency uti(ising te Agents s%ot rate of e4cange for te %urcase of te s%eci$ed currency wit tat oter currency at or about "" a!0! on te re(e8ant dateD is eua( to te re(e8ant a0ount in te s%eci$ed currency!
"!)
Third party rights [A %erson wo is not a *arty as no rigt under te Contracts @Rigts of Tird *arties Act "333 to enforce or to enJoy te bene$t of any ter0 of tis Agree0ent!]
#/
"
@a
-n(ess e4%ress(y %ro8ided to te contrary in a Finance #ocu0ent a %erson wo is not a *arty as no rigt under te Contracts @Rigts of Tird *arties Act "333 @te OThird Parties Act P to enforce or to enJoy te bene$t of any ter0 of tis Agree0ent!
@b
Notwitstanding any ter0 of any Finance #ocu0entD te consent of any tird %erson wo is not a *arty is not reuired to rescind or 8ary tis Agree0ent at any ti0e]!
6 1& 6
&%"T*#$ + T7% A"*L*T> +.
T7% A"*L*T>
'!"
The acility 9ubJect to te ter0s of tis Agree0entD te Lenders 0a7e a8ai(ab(e to te 5orrower a [do((ar]H[euro]H[oter] ter0 (oan faci(ity in an aggregate a0ount eua( to te Tota( Co00it0ents!
'!' @a
inance Parties? rights and obligations Te ob(igations of te Finance *arties under te Finance #ocu0ents are se8era(! Fai(ure by a Finance *arty to %erfor0 its ob(igations under te Finance #ocu0ents does not a:ect te ob(igations of any oter *arty under te Finance #ocu0ents! No Finance *arty is res%onsib(e for te ob(igations of any oter Finance *arty under te Finance #ocu0ents!
@b
Te rigts of te Finance *arties under or in connection wit te Finance #ocu0ents are se%arate and inde%endent rigts and any debt arising under te Finance #ocu0ents to a Finance *arty fro0 an ,b(igor sa(( be a se%arate and inde%endent debt!
@c
A Finance *arty 0ayD e4ce%t as oterwise stated in te Finance #ocu0entsD se%arate(y enforce its rigts under te Finance #ocu0ents!
.
P'/P#&%
)!"
Purpose Te 5orrower sa(( a%%(y a(( a0ounts borrowed by it under te Faci(ity towards [ ]!
)!'
Monitoring No Finance *arty is bound to 0onitor or 8erify te a%%(ication of any a0ount borrowed %ursuant to tis Agree0ent!
.
"#$4*T*#$& # 'T*L*&AT*#$
+!"
*nitial conditions precedent Te 5orrower 0ay not de(i8er a -ti(isation Reuest un(ess te Agent as recei8ed a(( of te docu0ents and oter e8idence (isted in and a%%earing to co0%(y wit te reuire0ents of 9cedu(e ' @ "onditions #recedent! Te Agent sa(( notify te 5orrower and te Le nders %ro0%t(y u%on recei8ing suc docu0ents and oter e8idence!
+!'
"
urther conditions precedent Te Lenders wi(( be ob(iged to co0%(y wit C(ause .!+ @Lenders. #artici#ation on(y if on te date of te -ti(isation Reuest and on te %ro%osed -ti(isation #ate?
6 1& 6
+!)
@a
no #efau(t is continuing or wou(d resu(t fro0 te %ro%osed Loan and
@b
te Re%eating Re%resentations to be 0ade by eac ,b(igor are true in a(( 0ateria( res%ects!
Maximum number o Loans Te 5orrower 0ay not de(i8er a -ti(isation Reuest if as a resu(t @a of te %ro%osed -ti(isation [ ] or 0ore Loans wou(d be outstanding! @b
"
Te 5orrower 0ay not reuest tat a Loan be di8ided ifD as a resu(t of te %ro%osed di8isionD [ ] or 0ore Loans wou(d be outstanding!
6 1& 6
&%"T*#$ 'T*L*&AT*#$ 0.
'T*L*&AT*#$
.!"
4eliery o a 'tilisation /e=uest Te 5orrower 0ay uti(ise te Faci(ity by de(i8ery to te Agent of a du(y co0%(eted -ti(isation Reuest not (ater tan te 9%eci$ed Ti0e!
.!'
"ompletion o a 'tilisation /e=uest
@a
Eac -ti(isation Reuest is irre8ocab(e and wi(( not be regarded as a8ing been du(y co0%(eted un(ess? @i
te %ro%osed -ti(isation #ate is a 5usiness #ay witin te A8ai(abi(ity *eriod
@ii
te currency and a0ount of te -ti(isation co0%(y wit C(ause .!) @"urrency and amount and
@iii
te %ro%osed $rst Interest *eriod co0%(ies wit C(ause @Interest (eriods!
3
@b
,n(y one Loan 0ay be reuested in eac -ti(isation Reuest!
.!)
"urrency and amount Te currency s%eci$ed in a -ti(isation Reuest 0ust be [do((ars]H
@a
[euros]H[oter]! @b
Te a0ount of te %ro%osed Loan 0ust be an a0ount wic is not 0ore tan te A8ai(ab(e Faci(ity and wic is a 0ini0u0 of [ ] orD if (essD te A8ai(ab(e Faci(ity!
.!+
Lenders@ participation If te conditions set out in C(ause + @"onditions o% Uti!isation and .!" @'e!i&ery o% a Uti!isation Re-uest to .!) @"urrency and amount abo8e a8e been 0etD eac Lender sa(( 0a7e its %artici%a tion in eac Loan a8ai(ab(e by te -ti(isation #ate troug its Faci(ity ,ce!
@a
@b
Te a0ount of eac Lenders %artici%ation in eac Loan wi(( be eua( to te %ro%ortion borne by its A8ai(ab(e Co00it0ent to te A8ai(ab(e Faci(ity i00ediate(y %rior to 0a7ing te Loan!
@c
Te Agent sa(( notify eac Lender of te a0ount of eac Loan and te a0ount of its %artici%ation in tat (oan by te 9%eci$ed Ti0e!
.!.
"ancellation o unutilised "ommitment At c(ose of business in [ ]) on te (ast day of te A8ai(abi(ity *eriodD te unuti(ised a0ount of eac Lenders Co00it0ent sa(( be auto0atica((y cance((ed!
)
"
Insert te %rinci%a( $nancia( centre of te currency of te Faci(ity!
6 1& 6
&%"T*#$ /%PA>M%$T, P/%PA>M%$T A$4 "A$"%LLAT*#$ 1.
/%PA>M%$T
/!"
/epayment o Loans [ ]!
/!'
/eborro!ing Te 5orrower 0ay not reborrow any %art of te Faci(ity wic is re%aid!
2.
P/%PA>M%$T A$4 "A$"%LLAT*#$
1!"
*llegality IfD at any ti0eD it is or wi(( beco0e un(awfu( in any a%%(icab(e Jurisdiction for a Lender to %erfor0 any of its ob(igations as conte0%(ated by tis Agree0ent or to fund or 0aintain its %artici%ation in any Loan? @a
tat Lender sa(( %ro0%t(y notify te Agent u%on beco0ing aware of tat e8ent
@b
u%on te Agent notifying te 5orrowerD te Co00it0ent of tat Lender wi(( be i00ediate(y cance((ed and
@c
te 5orrower sa(( re%ay tat Lenders %artici%ation in te Loans on te (ast day of te Interest *eriod for eac Loan occurring after te Agent as noti$ed te 5orrower orD if ear(ierD te date s%eci$ed by te Lender in te notice de(i8ered to te Agent @being no ear(ier tan te (ast day of any a%%(icab(e grace %eriod %er0itted by (aw!
1!' @a
"hange o control If [[ ] ceases to contro( te 5orrower]H[any %erson or grou% of %ersons acting in concert gains contro( of te 5orrower]? @i
te 5orrower sa(( %ro0%t(y notify te Agent u%on beco0ing aware of tat e8ent and
@ii
if te MaJority Lenders so reuireD te Agent sa((D by not (ess tan [ ] days notice to te 5orrowerD cance( te Faci(ity and dec(are a(( outstanding LoansD togeter wit accrued interestD and a(( oter a0ounts accrued under te Finance #ocu0ents i00ediate(y due and %ayab(eD wereu%on te Faci(ity wi(( be cance((ed and a(( suc outstanding a0ounts wi(( beco0e i00ediate(y due and %ayab(e!
@b
"
For te %ur%ose of %aragra% @a abo8e Bcontrol B 0eans [
6 1& 6
]!
@c
[For te %ur%ose of %aragra% @a abo8e B acting in concertB 0eans [ ]!]+
1!)
Boluntary cancellation Te 5orrower 0ayD if it gi8es te Agent not (ess tan [ ] 5usiness #ays @or suc sorter %eriod as te MaJority Lenders 0ay agree %rior noticeD cance( te wo(e or any %art @being a 0ini0u0 a0ount of [ ] of te A8ai(ab(e Faci(ity! Any cance((ation under tis C(ause 1!) sa(( reduce te Co00it0ents of te Lenders rateab(y!
1!+
Boluntary prepayment o Loans Te 5orrower 0ayD if it gi8es te Agent not (ess tan [ ] 5usiness #ays @or suc sorter %eriod as te MaJority Lenders 0ay agree %rior noticeD %re%ay [on te (ast day of te Interest *eriod a%%(icab(e tereto] te wo(e or any %art of any Loan @butD if in %artD being an a0ount tat reduces te a0ount of te Loan by a 0ini0u0 a0ount of [ ]!
@a
@b
A Loan 0ay be %re%aid on(y after te (ast day of te A8ai(abi(ity *eriod @orD if ear(ierD te day on wic te A8ai(ab(e Faci(ity is ero!
@c
[Any %re%ay0ent under tis C(ause 1!+ sa(( satisfy te ob(igations under C(ause /!" @Re#ayment o% Loans [in in8erse crono(ogica( order]H[#ro rata] and be a%%(ied rateab(y a0ong te %artici%ations of
1!. @a
a(( Lenders!] /ight o prepayment and cancellation in relation to a single Lender If? @i
any su0 %ayab(e to any Lender by an ,b(igor is reuired to be increased under %aragra% @a of C(ause "'!' @Ta/ ross0u# or
@ii
any Lender c(ai0s inde0ni$cation fro0 te 5orrower under C(ause "'!) @Ta/ indemnity or C(ause ")!" @Increased costsD
te 5orrower 0ayD wi(st te circu0stance gi8ing rise to te reuire0ent or inde0ni$cation continuesD gi8e te Agent notice of cance((ation of te Co00it0ent of tat Lender and its intention to %rocure te %re%ay0ent of tat Lenders %artici%ation in te Loans! @b
,n recei%t of a notice referred to in %aragra% @a abo8eD te Co00it0ent of tat Lender sa(( i00ediate(y be reduced to ero!
@c
,n te (ast day of eac Interest *eriod wic ends after te 5orrowe r as gi8en notice under %aragra% @a abo8e @orD if ear(ierD te date s%eci$ed by te 5orrower in tat noticeD te 5orrower sa(( %re%ay tat Lenders %artici%ation in te re(e8ant Loan!
+
"
#e%ending on te ter0s of te transaction!
6 1& 6
1!/ @a
@b
/estrictions Any notice of cance((ation or %re%ay0ent gi8en by any *arty under tis C(ause 1 sa(( be irre8ocab(e andD un(ess a contrary indication a%%ears in tis Agree0entD sa(( s%ecify te date or dates u%on wic te re(e8ant cance((ation or %re%ay0ent is to be 0ade and te a0ount of tat cance((ation or %re%ay0ent! Any %re%ay0ent under tis Agree0ent sa(( be 0ade togeter wit accrued inter est on te a0ount %re%aid andD subJect to any 5rea7 CostsD witout %re0iu0 or %ena(ty!
@c
Te 5orrower 0ay not reborrow any %art of te Faci(ity wic is %re%aid!
@d
Te 5orrower sa(( not re%ay or %re%ay a(( or any %art of te Loans or cance( a(( or any %art of te Co00it0ents e4ce%t at te ti0es and in te 0anner e4%ress(y %ro8ided for in tis Agree0ent!
@e
No a0ount of te Tota( Co00it0ents cance((ed under tis Agree0ent 0ay be subseuent(y reinstated!
@f
If te Agent recei8es a notice under tis C(ause 1 it sa(( %ro0%t(y forward a co%y of tat notice to eiter te 5orrower or te a:ected LenderD as a%%ro%riate!
1!1
Mandatory Prepayment [ ]]
"
6 1& 6
&%"T*#$ 0 "#&T& # 'T*L*&AT*#$ 3.
*$T%/%&T
2!"
"alculation o interest Te rate of interest on eac Loan for eac Interest *eriod is te %ercentage rate %er annu0 wic is te aggregate of te a%%(icab(e? @a
Margin and
@b
[LI5,R]H[E-RI5,R]!
2!'
Payment o interest Te 5orrower sa(( %ay accrued interest on tat Loan on te (ast day of eac Interest *eriod !
2!)
4eault interest If an ,b(igor fai(s to %ay any a0ount %ayab(e by it under a Finance #ocu0ent on its due dateD interest sa(( accrue on te -n%aid 9u0 fro0 te due date to te date of actua( %ay0ent @bot before and after Judg0ent at a rate wic isD subJect to %aragra%s @b and @c be(owD [ ] %er cent! iger tan te rate wic wou(d a8e been %ayab(e if te -n%aid 9u0 adD during te %eriod of non6%ay0entD constituted a Loan in te currency of te -n%aid 9u0 for successi8e Interest *eriodsD
@a
eac of a duration se(ected by te Agent @acting reasonab(y! Any interest accruing under tis C(ause 2!) sa(( be i00ediate(y %ayab(e by te ,b(igor on de0and by te Agent! @b
@c
"
If any -n%aid 9u0 consists of a(( or %art of a Loan wic beca0e due on a day wic was not te (ast day of an Interest *eriod re(ating to tat Loan? @i
te $rst Interest *eriod for tat -n%aid 9u0 sa(( a8e a duration eua( to te une4%ired %ortion of te current Interest *eriod re(ating to tat Loan and
@ii
te rate of interest a%%(ying to te -n%aid 9u0 during tat $rst Interest *eriod sa(( be [ ] %er cent! iger tan te rate wic wou(d a8e a%%(ied if te -n%aid 9u0 ad not beco0e due!
[9ubJect to %aragra% @b abo8eD te rate of interest a%%(icab(e to eac Lenders %artici%ation in an -n%aid 9u0 for te $rst Interest *eriod a%%(icab(e to suc -n%aid 9u0 sa(( be te rate %er annu0 wic is te su0 of? @i
te Margin
@ii
[ ] %er cent! and
6 1& 6
@iii
@d
te rate noti$ed to te Agent by tat Lender as soon as %racticab(e to be tat wic e4%resses as a %ercentage rate %er annu0 te cost to tat Lender of funding its %artici%ation of suc -n%aid 9u0 during suc Interest *eriod fro0 wate8er sources it 0ay reasonab(y se(ect!]
#efau(t interest @if un%aid arising on an -n%aid 9u0 wi(( be co0%ounded wit te -n%aid 9u0 at te end of eac Interest *eriod a%%(icab(e to tat -n%aid 9u0 but wi(( re0ain i00ediate(y due and %ayab(e!
2!+
$otifcation o rates o interest Te Agent sa(( %ro0%t(y notify te Lenders and te 5orrower of te deter0ination of a rate of interest under tis Agree0ent!
5.
*$T%/%&T P %/*#4&
3!"
&election o *nterest Periods Te 5orrower 0ay se(ect an Interest *eriod for a Loan in te -ti(isation Reuest for tat Loan or @if te Loan as a(ready been borrowed in a 9e(ection Notice!
@a
@b
Eac 9e(ection Notice for a Loan is irre8ocab(e and 0ust be de(i8ered to te Agent by te 5orrower not (ater tan te 9%eci$ed Ti0e!
@c
If te 5orrower fai(s to de(i8er a 9e(ection Notice to te Agent in accordance wit %aragra% @b abo8eD te re(e8ant Interest *eriod wi((D subJect to C(ause 3!' @"hanes to Interest (eriodsD be [one] Mont!
@d
9ubJect to tis C(ause 3D te 5orrower 0ay se(ect an Interest *eriod of [ or ] Monts or any oter %eriod agreed between te 5orrower and te Agent @acting on te instru ctions of a(( te Lenders! [In addition te 5orrower 0ay se(ect an Interest *eriod of a %eriod of (ess tan [one] MontD if necessary to ensure tat tere are sucient Loans @wit an aggregate a0ount eua( to or greater tan te Re%ay0ent Insta(0ent wic a8e an Interest *eriod ending on a Re%ay0ent #ate for te 5orrower to 0a7e te Re%ay0ent Insta(0ent due on tat date]!
@e
An Interest *eriod for a Loan sa(( not e4tend beyond te Fina( Re%ay0ent #ate!
@f
Eac Interest *eriod for a Loan sa(( start on te -ti(isation #ate or @if a Loan as a(ready been 0ade on te (ast day of te %receding Interest *eriod of suc Loan!
3!'
"hanges to *nterest Periods [*rior to deter0ining te interest rate for a LoanD te Agent 0ay sorten an Interest *eriod for any Loan to ensure tere are sucient Loans @wit an aggregate a0ount eua( to or greater tan te
@a
"
6 1& 6
Re%ay0ent Insta(0ent wic a8e an Interest *eriod ending on a Re%ay0ent #ate for te 5orrower to 0a7e te Re%ay0ent Insta(0ent due on tat date!] @b
If te Agent 0a7es any cange to an Interest *eriod referred to in tis C(ause 3!'D it sa(( %ro0%t(y notify te 5orrower and te Lenders!
3!)
$on-8usiness 4ays If an Interest *eriod wou(d oterwise end on a day wic is not a 5usiness #ayD tat Interest *eriod wi(( instead end on te ne4t 5usiness #ay in tat ca(endar 0ont @if tere is one or te %receding 5usiness #ay @if tere is not!
3!+
"onsolidation and diision o Loans 9ubJect to %aragra% @b be(owD if two or 0ore Interest *eriods end on te sa0e dateD tose Loans wi((D un(ess te 5orrower s%eci$es to te contrary in te 9e(ection Notice for te ne4t Interest *eriodD be conso(idated intoD and treated asD a sing(e Loan on te (ast day of te Interest *eriod!
@a
@b
9ubJect to C(ause +!) @Ma/imum number o% Loans and C(a use .!) @"urrency and amount D if te 5orrower reuests in a 9e(ection Notice tat a Loan be di8ided into two or 0ore LoansD tat Loan wi((D on te (ast day of its Interest *eriodD be so di8ided into te a0ounts s%eci$ed in tat 9e(ection being an aggregate a0ount eua( to a0ount of te LoanNoticeD i00ediate(y before its di8ision!
)6.
te
"7A$(%& T# T 7% " AL"'LAT*#$ # *$ T%/%&T
"&!" Absence o =uotations
9ubJect to C(ause "&!' @Mar,et disru#tionD if [LI5,R]H[E-RI5,R] is to be deter0ined by reference to te Reference 5an7s but a Reference 5an7 does not su%%(y a uotation by noon on te =uotation #ayD te a%%(icab(e [LI5,R]H[E-RI5,R] sa(( be deter0ined on te basis of te uotations of te re0aining Reference 5an7s! "&!' Market disruption @a
"
If a Mar7et #isru%tion E8ent occurs in re(ation to a Loan for any Interest *eriodD ten te rate of interest on eac Lenders sare of tat Loan for te Interest *eriod sa(( be te rate %er annu0 wic is te su0 of? @i
te Margin and
@ii
te iger of @4 te rate noti$ed to te Agent by tat Lender as soon as %racticab(e and in any e8ent before interest is due to be %aid in res%ect of tat Interest *eriod to be tat wic e4%resses as a %ercentage rate %er annu0 te cost to tat Lender of funding its %artici%ation in tat Loan fro0 wate8er
6 1& 6
source it 0ay reasonab(y se(ect and @y in re(ation to a Mar7et #isru%tion E8ent under %aragra% @b@ii be(owD [LI5,R]H [E-RI5,R]! @b
In tis Agree0ent BMarket 4isruption %entB 0eans? @i
at or about noon on te =uotation #ay for te re(e8ant Interest *eriod te 9creen Rate is not a8ai(ab(e or te 9creen Rate is ero or negati8e and none or on(y one of te Reference 5an7s su%%(ies a rate to te Agent to deter0ine [LI5,R]H[E-RI5,R] for [do((ars]H[euros]H[oter] for te re(e8ant Interest *eriod or
@ii
before noon @
"&!) Alternatie basis o interest or unding @a
@b
@c
If a Mar7et #isru%tion E8ent occurs and te Agent or te 5orrower so reuiresD te Agent and te 5orrower sa(( enter into negotiations @for a %eriod of not 0ore tan tirty days wit a 8iew to agreeing a substitute basis for deter0ining te rate of interest! Any a(ternati8e basis agreed %ursuant to %aragra% @a abo8e sa((D wit te %rior consent of a(( te Lenders and te 5orrowerD be binding on a(( *arties! For te a8oidance of doubtD in te e8ent tat no substitute basis is agreed at te end of te tirty day %eriodD te rate of interest sa(( continue to be deter0ined in accordance wit te ter0s of tis Agree0ent!
"&!+ 8reak "osts @a
Te 5orrower sa((D witin tree 5usiness #ays of de0and by a Finance *artyD %ay to tat Finance *arty its 5rea7 Costs attributab(e to a(( or any %art of a Loan or -n%aid 9u0 being %aid by te 5orrower on a day oter tan te (ast day of an Interest *eriod for tat Loan or -n%aid 9u0!
@b
Eac Lender sa((D as soon as reasonab(y %racticab(e after a de0and by te AgentD %ro8ide a certi$cate con$r0ing te a0ount of its 5rea7 Costs for any Interest *eriod in wic tey accrue!
"
6 1& 6
)).
%%&
""!" "ommitment ee @a
Te 5orrower sa(( %ay to te Agent @for te account of eac Lender a fee co0%uted at te rate of [ ] %er cent! %er annu0 on tat Lenders A8ai(ab(e Co00it0ent for te A8ai(abi(ity *eriod!
@b
Te accrued co00it0ent fee is %ayab(e on te (ast day of eac successi8e %eriod of tree Monts wic ends during te A8ai(abi(ity *eriodD on te (ast day of te A8ai(abi(ity *eriod andD if cance((ed in fu((D on te cance((ed a0ount of te re(e8ant Lenders Co00it0ent at te ti0e te cance((ation is e:ecti8e!
""!' Arrangement ee
Te 5orrower sa(( %ay to te Arranger an arrange0ent fee in te a0ount and at te ti0es agreed in a Fee Letter! ""!) Agency ee
Te 5orrower sa(( %ay to te Agent @for its own account an agency fee in te a0ount and at te ti0es agreed in a Fee Letter!
"
6 1& 6
&%"T*#$ 1 A44*T*#$AL PA>M%$T #8L*(AT*#$& )+.
TAC ( /#&& ' P A $4 * $4%M$*T*%&
"'!" 4efnitions @a
In tis C(ause "'? BTax "reditB 0eans a credit againstD re(ief or re0ission forD or re%ay0ent of any Ta4! BTax 4eductionB 0eans a deduction or wito(ding for or on account of Ta4 fro0 a %ay0ent under a Finance #ocu0ent! BTax PaymentB 0eans an increased %ay0ent 0ade by an ,b(igor to a Finance *arty under C(ause "'!' @ Ta/ ross0u# or a %ay0ent under C(ause "'!) @Ta/ indemnity!
@b
-n(ess a contrary indication a%%earsD in tis C(ause "' a reference to Bdeter0inesB or Bdeter0inedB 0eans a deter0ination 0ade in te abso(ute discretion of te %erson 0a7ing te deter0ination!
"'!' Tax gross-up @a
A(( %ay0ents to be 0ade by an ,b(igor to any Finance *arty under te Finance #ocu0ents sa(( be 0ade free and c(ear of and witout any Ta4 #eduction un(ess suc ,b(igor is reuired to 0a7e a Ta4 #eductionD in wic case te su0 %ayab(e by suc ,b(igor @in res%ect of wic suc Ta4 #eduction is reuired to be 0ade sa(( be increased to te e4tent necessary to ensure tat suc Finance *arty recei8es a su0 net of any deduction or wito(ding eua( to te su0 wic it wou(d a8e recei8ed ad no suc Ta4 #eduction been 0ade or reuired to be 0ade!
@b
Te 5orrower sa(( %ro0%t(y u%on beco0ing aware tat an ,b(igor 0ust 0a7e a Ta4 #eduction @or tat tere is any cange in te rate or te basis of a Ta4 #eduction notify te Agent according(y! 9i0i(ar(yD a Lender sa(( notify te Agent on beco0ing so aware in res%ect of a %ay0ent %ayab(e to tat Lender! If te Agent recei8es suc noti$cation fro0 a Lender it sa(( notify te 5orrower and tat ,b(igor!
@c
If an ,b(igor is reuired to 0a7e a Ta4 #eductionD tat ,b(igor sa(( 0a7e tat Ta4 #eduction and any %ay0ent reuired in connection wit tat Ta4 #eduction witin te ti0e a((owed and in te 0ini0u0 a0ount reuired by (aw!
@d
;itin tirty days of 0a7ing eiter a Ta4 #eduction or any %ay0ent reuired in connection wit tat Ta4 #eductionD te ,b(igor 0a7ing tat Ta4 #eduction sa(( de(i8er to te Agent for te Finance *arty entit(ed to te %ay0ent e8idence reasonab(y satisfactory to tat
"
6 1& 6
Finance *arty tat te Ta4 #eduction as been 0ade or @as a%%(icab(e any a%%ro%riate %ay0ent %aid to te re(e8ant ta4ing autority! "'!) Tax indemnity @a
;itout %reJudice to C(ause "'!' @Ta/ ross0u#D if any Finance *arty is reuired to 0a7e any %ay0ent of or on account of Ta4 on or in re(ation to any su0 recei8ed or recei8ab(e under te Finance #ocu0ents @inc(uding any su0 dee0ed for %ur%oses of Ta4 to be recei8ed or recei8ab(e by suc Finance *arty weter or not actua((y recei8ed or recei8ab(e or if any (iabi(ity in res%ect of any suc %ay0ent is assertedD i0%osedD (e8ied or assessed against any Finance *artyD te 5orrower sa((D witin tree 5usiness #ays of de0and of te AgentD %ro0%t(y inde0nify te Finance *arty wic su:ers a (oss or (iabi(ity as a resu(t against suc %ay0ent or (iabi(ityD togeter wit any interestD %ena(tiesD costs and e4%enses %ayab(e or incurred in connection terewitD %ro8ided tat tis C(ause "'!) sa(( not a%%(y to? @i
any Ta4 i0%osed on and ca(cu (ated by reference to te net inco0e actua((y recei8ed or recei8ab(e by suc Finance *arty @butD for te a8oidance of doubtD not inc(uding any su0 dee0ed for %ur%oses of Ta4 to be recei8ed or recei8ab(e by suc Finance *arty but not actua((y recei8ab(e by te Jurisdiction in wic suc Finance *arty is incor%orated or
@ii
any Ta4 i0%osed on and ca(cu (ated by reference to te net inco0e of te Faci(ity ,ce of suc Finance *arty actua((y recei8ed or recei8ab(e by suc Finance *arty @butD for te a8oidance of doubtD not inc(uding any su0 dee0ed for %ur%oses of Ta4 to be recei8ed or recei8ab(e by suc Finance *arty but not actua((y recei8ab(e by te Jurisdiction in wic its Faci(ity ,ce is (ocated!
@b
A Finance *arty intending to 0a7e a c(ai0 under %aragra% @a sa(( notify te Agent of te e8ent gi8ing rise to te c(ai0D wereu%on te Agent sa(( notify te 5orrower tereof!
@c
A Finance *arty sa((D on recei8ing a %ay0ent fro0 an ,b(igor under tis C(ause "'!)D notify te Agent!
"'!+ Tax credit
If an ,b(igor 0a7es a Ta4 *ay0ent and te re(e8ant Finance *arty deter0ines tat?
"
@a
a Ta4 Credit is attributab(e to tat Ta4 *ay0ent and
@b
tat Finance *arty as obtainedD uti(ised and retained tat Ta4 CreditD
6 1& 6
te Finance *arty sa(( %ay an a0ount to te ,b(igor wic tat Finance *arty deter0ines wi(( (ea8e it @after tat %ay0ent in te sa0e after6Ta4 %osition as it wou(d a8e been in ad te Ta4 *ay0ent not been reuired to be 0ade by te ,b(igor! "'!. &tamp taxes
Te 5orrower sa(( @a %ay andD @b witin tree 5usiness #ays of de0andD inde0nify eac Finance *arty against any costD (oss or (iabi(ity tat Finance *arty incurs in re(ation to a(( sta0% dutyD registration and oter si0i(ar Ta4es %ayab(e in res%ect of any Finance #ocu0ent! "'!/ *ndirect tax @a
A(( consideration e4%ressed to be %ayab(e under a Finance #ocu0ent by any *arty to a Finance *arty sa(( be dee0ed to be e4c(usi8e of any Indirect Ta4! If any Indirect Ta4 is cargeab(e on any su%%(y 0ade by any Finance *arty to any *arty in connection wit a Finance #ocu0entD tat *arty sa(( %ay to te Finance *arty @in addition to and at te sa0e ti0e as %aying te consideration an a0ount eua( to te a0ount of te Indirect Ta4!
@b
;ere a Finance #ocu0ent reuires any *arty to rei0burse a Finance *arty for any costs or e4%ensesD tat *arty sa(( a(so at te sa0e ti0e %ay and inde0nify te Finance *arty against a(( Indirect Ta4 incurred by tat Finance *arty in res%ect of te costs or e4%enses to te e4tent te Finance *arty reasonab(y deter0ines tat it is not entit(ed to credit or re%ay0ent in res%ect of te Indirect Ta4!
).
*$"/%A&%4 "#&T&
")!" *ncreased costs @a
9ubJect to C(ause ")!) @E/ce#tions te 5orrower sa((D witin tree 5usiness #ays of a de0and by te AgentD %ay for te account of a Finance *arty te a0ount of any Increased Costs incurred by tat Finance *arty or any of its A(iates as a resu(t of @i te introduction of or any cange in @or in te inter%retationD ad0inistration or a%%(ication of any (aw or regu(ation or @ii co0%(iance wit any (aw or regu(ation 0ade after te date of tis Agree0ent! Te ter0s B(awB and Bregu(ationB in tis %aragra% @a sa(( inc(udeD witout (i0itationD any (aw or regu(ation concerning ca%ita( adeuacyD %rudentia( (i0itsD (iuidityD reser8e assets or Ta4!
@b
In tis Agree0ent B*ncreased "ostsB 0eans? @i
"
a reduction in te rate of return fro0 te Faci(ity or on a Finance *artys @or its A(iates o8era(( ca%ita( @inc(udingD witout (i0itationD as a resu(t of any reduction in te rate of return on ca%ita( brougt about by 0ore ca%ita( being reuired to be a((ocated by suc Finance *arty
6 1& 6
@ii
an additiona( or increased cost or
@iii
a reduction of any a0ount due and %ayab(e under any Finance #ocu0entD
wic is incurred or su:ered by a Finance *arty or any of its A(iates to te e4tent tat it is attributab(e to tat Finance *arty a8ing entered into its Co00it0ent or funding or %erfor0ing its ob(igations under any Finance #ocu0ent! ")!' *ncreased cost claims A Finance *arty intending to 0a7e a c(ai0 %ursuant to C(ause ")!" @a
@Increased costs sa(( notify te Agent of te e8ent gi8ing rise to te c(ai0D fo((owing wic te Agent sa(( %ro0%t(y notify te 5orrower! @b
Eac Finance *arty sa((D as soon as %racticab(e after a de0and by te AgentD %ro8ide a certi$cate con$r0ing te a0ount of its Increased Costs!
")!) %xceptions @a
C(ause ")!" @Increased costs does not a%%(y to te e4tent any Increased Cost is? @i
attributab(e to a Ta4 #eduction reuired by (aw to be 0ade by an ,b(igor
@ii
co0%ensated for by C(ause "'!) @ Ta/ indemnity @or wou(d a8e been co0%ensated for under C(ause "'!) @Ta/ indemnity but was not so co0%ensated so(e(y because te e4c(usion in %aragra% @a of C(ause "'!) @Ta/ indemnity a%%(ied or
@iii
attributab(e to te wi(fu( breac by te re(e8ant Finance *arty or its A(iates of any (aw or regu(ation!
@b
In tis C(ause ")!)D a reference to a B Tax 4eductionB as te sa0e 0eaning gi8en to te ter0 in C(ause "'!" @'e$nitions!
).
M*T*(AT*#$ 8> T7% L%$4%/&
"+!" Mitigation @a
Eac Finance *arty sa((D in consu(tation wit te 5orrowerD ta7e a(( reasonab(e ste%s to 0itigate any circu0stances wic arise and wic wou(d resu(t in any a0ount beco0ing %ayab(e under or %ursuant toD or cance((ed %ursu ant toD any of C(ause 1!" @I!!ea!ityD C(ause "' @Ta/ ross0u# and indemnities or C(a use ") @Increased costsD inc(uding @but not (i0ited to? @i
"
[%ro8iding suc infor0ation as te 5orrower 0ay reasonab(y reuest in order to %er0it te 5orrower to deter0ine its entit(e0ent to c(ai0 any e4e0%tion or oter re(ief @weter
6 1& 6
%ursuant to a doub(e ta4ation treaty or oterwise fro0 any ob(igation to 0a7e a Ta4 #eduction and ] @ii
@b
in re(ation to any circu0stances wic arise fo((owing te date of tis Agree0entD transferring its rigts and ob(igations under te Finance #ocu0ents to anoter A(iate or Faci(ity ,ce!
*aragra% @a abo8e does not in any way (i0it te ob(igations of any ,b(igor under te Finance #ocu0ents!
"+!' Limitation o liability Te 5orrower sa(( inde0nify eac Finance *arty for a(( costs and @a
e4%enses reasonab(y incurred by tat Finance *arty as a resu(t of ste%s ta7en by it under C(ause "+!" @Mitiation! @b
A Finance *arty is not ob(ig ed to ta7e any ste% s under C(ause "+!" @Mitiation ifD in te o%inion of tat Finance *arty @acting reasonab(yD to do so 0igt be %reJudicia( to it!
"+!) "onduct o business by the inance Parties
No %ro8ision of tis Agree0ent wi((?
)0.
@a
interfere wit te rigt of any Finance *arty to arrange its a:airs @ta4 or oterwise in wate8er 0anner it tin7s $t
@b
ob(ige any Finance *arty to in8estigate or c(ai0 any creditD re(iefD re0ission or re%ay0ent a8ai(ab(e to it or te e4ten tD order and 0anner of any c(ai0 or
@c
ob(ige any Finance *arty to disc(ose any infor0ation re(ating to its a:airs @ta4 or oterwise or any co0%utations in res%ect of Ta4!
#T7%/ * $4%M$*T*%&
".!" "urrency indemnity @a
If any su0 due fro0 an ,b(igor under te Finance #ocu0ents @a B&umBD or any orderD Judg0ent or award gi8en or 0ade in re(ation to a 9u0D as to be con8erted fro0 te currency @te B irst "urrencyB in wic tat 9u0 is %ayab(e into anoter currency @te B &econd "urrencyB for te %ur%ose of? @i
0a7ing or $(ing a c(ai0 or %roof against tat ,b(igor or
@ii
obtaining or enforcing an orderD Judg0ent or award in re(ation to any (itigation or arbitration %roceedingsD
tat ,b(igor sa(( as an inde%endent ob(igationD witin tree 5usiness #ays of de0andD inde0nify eac Finance *arty to wo0 tat 9u0 is due against any costD (oss or (iabi(ity arising out of or as a resu(t of te con8ersion inc(uding any discre%ancy between @A te rate of
"
6 1& 6
e4cange used to con8ert tat 9u0 fro0 te First Currency into te 9econd Currency and @5 te rate or rates of e4cange a8ai(ab(e to tat %erson at te ti0e of its recei%t of tat 9u0! @b
Eac ,b(igor wai8es any rigt it 0ay a8e in any Jurisdiction to %ay any a0ount under te Finance #ocu0ents in a currency or currency unit oter tan tat in wic it is e4%ressed to be %ayab(e!
".!' #ther indemnities
Te 5orrower sa((D witin tree 5usiness #ays of de0andD inde0nify eac Finance *arty against any costD (oss or (iabi(ity incurred by tat Finance *arty as a resu(t of? @a
te occurrence of any E8ent of #efau(t
@b
te [Infor0ation Me0orandu0 or any oter] infor0ation %roduced or a%%ro8ed by te 5orrower being or being a((eged to be 0is(eading andHor dece%ti8e in any res%ect
@c
any enuiryD in8estigationD sub%oena @or si0i(ar order or (itigation wit res%ect to any ,b(igor or wit res%ect to te transactions conte0%(ated or $nanced under tis Agree0ent
@d
a fai(ure by an ,b(igor to %ay any a0ount due under a Finance #ocu0ent on its due date or in te re(e8ant currencyD inc(uding witout (i0itationD any costD (oss or (iabi(ity arising as a resu(t of C(ause '/ @Sharin amon the Finance (arties
@e
fundingD or 0a7ing arrange0ents to fundD its %artici%at ion in a Loan reuested by te 5orrower in a -ti(isation Reuest but not 0ade by reason of te o%eration of any one or 0ore of te %ro8isions of tis Agree0ent @oter tan by reason of defau(t or neg(igence by tat Finance *arty a(one or
@f
a Loan @or %art of a Loan not being %re%aid in accordance wit a notice of %re%ay0ent gi8en by te 5orrower!
".!) *ndemnity to the Agent
Te 5orrower sa(( %ro0%t(y inde0nify te Agent against any costD (oss or (iabi(ity incurred by te Agent @acting reasonab(y as a resu(t of?
"
@a
in8estigating any e8ent wic it reasonab(y be(ie8es is a #efau(t or
@b
acting or re(ying on any noticeD reuest or instruction wic it reasonab(y be(ie8es to be genuineD correct and a%%ro%riate(y autorised!
6 1& 6
)1.
"#&T& A $4 %CP%$&%&
"/!" Transaction expenses
Te 5orrower sa((D witin tree 5usiness #ays of de0andD %ay te Agent and te Arranger te a0ount of a(( costs and e4%enses @inc(uding (ega( fees reasonab(y incurred by any of te0 in connection wit te negotiationD %re%arationD %rintingD e4ecution and syndication of? @a
tis Agree0ent and any oter docu0ents referred to in tis Agree0ent and
@b
any oter Finance #ocu0ents e4ecuted after te date of tis Agree0ent!
"/!' Amendment costs
If @a an ,b(igor reuests an a0end0entD wai8er or consent or @b an a0end0ent is reuired %ursuant to C(ause '1!3 @"hane o% currency D te 5orrower sa((D witin tree 5usiness #ays of de0andD rei0burse te Agent for te a0ount of a(( costs and e4%enses @inc(uding (ega( fees reasonab(y incurred by te Agent in res%onding toD e8a(uatingD negotiating or co0%(ying wit tat reuest or reuire0ent! "/!) %norcement costs
Te 5orrower sa((D witin tree 5usiness #ays of de0andD %ay to eac Finance *arty te a0ount of a(( costs and e4%enses @inc(uding (ega( fees incurred by tat Finance *arty in connection wit te enforce0ent ofD or te %reser8ation of any rigts underD any Finance #ocu0ent!
"
6 1& 6
&%"T*#$ 2 ('A/A$T%% )2.
('A/A$T%% A$4 *$4%M$*T>
"1!" (uarantee and indemnity
Te Guarantor irre8ocab(y and unconditiona((y? @a
guarantees to eac Finance *arty %unctua( %erfor0ance by te 5orrower of a(( te 5orrowers ob(igations under te Finance #ocu0ents
@b
underta7es wit eac Finance *arty tat wene8er te 5orrower does not %ay any a0ount wen due under or in connection wit any Finance #ocu0entD tat Guarantor sa(( i00ediate(y on de0and %ay tat a0ount as if it was te %rinci%a( ob(igor and
@c
inde0ni$es eac Finance *arty i00ediate(y on de0and against any costD (oss or (iabi(ity su:ered by tat Finance *arty if any ob(igation guaranteed by it @or anyting wic wou(d a8e been an ob(igation if not unenforceab(eD in8a(id or i((ega( is or beco0es unenforceab(eD in8a(id or i((ega(! Te a0ount of te costD (oss or (iabi(ity sa(( be eua( to te a0ount wic tat Finance *arty wou(d oterwise a8e been entit(ed to reco8er!
"1!' "ontinuing guarantee
Tis guarantee is a continuing guarantee and wi(( e4tend to te u(ti0ate ba(ance of su0s %ayab(e by te 5orrower under te Finance #ocu0entsD regard(ess of any inter0ediate %ay0ent or discarge in wo(e or in %art! "1!) /einstatement
If any %ay0ent to or any discarge gi8en by a Finance *arty @weter in res%ect of te ob(igations of any ,b(igor or any security for tose ob(igations or oterwise is a8oided or reduced for any reason @inc(udingD witout (i0itationD as a resu(t of inso(8encyD breac of $duciary or statutory duties or any si0i(ar e8ent? @a
te (iabi(ity of te 5orrower sa(( continue as if te %ay0entD discargeD a8oidance or reduction ad not occurred and
@b
eac Finance *arty sa(( be entit(ed to reco8er te 8a(ue or a0ount of tat security or %ay0ent fro0 te 5orrowerD as if te %ay0entD discargeD a8oidance or reduction ad not occurred!
"1!+ Daier o deences
Te ob(igations of te Guarantor under tis C(ause "1 wi(( not be a:ected by an actD o0issionD 0atter or ting wicD but for tis C(ause "1D wou(d reduceD re(ease or %reJudice any of its ob(igations under tis
"
6 1& 6
C(ause "1 @witout (i0itation and weter or not 7nown to it or any Finance *arty inc(uding? @a
any ti0eD wai8er or consent granted toD or co0%osition witD any ,b(igor or oter %erson
@b
te re(ease of te 5orrower or any oter %erson under te ter0s of any co0%osition or arrange0ent wit any creditor of any 0e0ber of te Grou%
@c
te ta7ingD 8ariationD co0%ro0iseD e4cangeD renewa( or re(ease ofD or refusa( or neg(ect to %erfectD e4ecuteD ta7e u% or enforceD any rigts againstD or security o8er assets ofD te 5orrower or oter %erson or any non6%resentation or non6 obser8ance of any for0a(ity or oter reuire0ent in res%ect of any instru0ent or any fai(ure to rea(ise te fu(( 8a(ue of any security
@d
any inca%acity or (ac7 of %owerD autority or (ega( %ersona(ity of or disso(ution or cange in te 0e0bers or status of te 5orrower or any oter %erson
@e
any a0end0ent @owe8er funda0enta( or re%(ace0ent of a Finance #ocu0ent or any oter docu0ent or security
@f
any unenforceabi(ityD i((ega(ity or in8a(idity of any ob(igation of any %erson under any Finance #ocu0ent or any oter docu0ent or security
@g
any inso(8ency or si0i(ar %roceedings or
@
tis Agree0ent or any oter Finance #ocu0ent not being e4ecuted by or binding u%on any oter %arty!
"1!. *mmediate recourse
Te Guarantor wai8es any rigt it 0ay a8e of $rst reuiring any Finance *arty @or any trustee or agent on its bea(f to %roceed against or enforce any oter rigts or security or c(ai0 %ay0ent fro0 any %erson before c(ai0ing fro0 te Guarantor under tis C(ause "1! Tis wai8er a%%(ies irres%ecti8e of any (aw or any %ro8ision of a Finance #ocu0ent to te contrary! "1!/ Appropriations
-nti( a(( a0ounts wic 0ay be or beco0e %ayab(e by te 5orrower under or in connection wit te Finance #ocu0ents a8e been irre8ocab(y %aid in fu((D eac Finance *arty @or any trustee or agent on its bea(f 0ay? @a
"
refrain fro0 a%%(ying or enforcing any oter 0oneysD security or rigts e(d or recei8ed by tat Finance *arty @or any trustee
6 1& 6
or agent on its bea(f in res%ect of tose a0ountsD or a%%(y and enforce te sa0e in suc 0anner and order as it sees $t @weter against tose a0ounts or oterwise and te Guarantor sa(( not be entit(ed to te bene$t of te sa0e and @b
o(d in an interest6bearing sus%ense account any 0oneys recei8ed fro0 te Guarantor or on account of te Guarantors (iabi(ity under tis C(ause "1!
"1!1 4eerral o (uarantor@s rights
-nti( a(( a0ounts wic 0ay be or beco0e %ayab(e by te 5orrower under or in connection wit te Finance #ocu0ents a8e been irre8ocab(y %aid in fu(( and un(ess te Agent oterwise directsD te Guarantor wi(( not e4ercise any rigts wic it 0ay a8e by reason of %erfor0ance by it of its ob(igations under te Finance #ocu0ents? @a
to be inde0ni$ed by te 5orrower
@b
to c(ai0 any contribution fro0 any oter guarantor of or %ro8ider of security for te 5orrowers ob(igations under te Finance #ocu0ents andHor
@c
to ta7e te bene$t @in wo(e or in %art and weter by way of subrogation or oterwise of any rigts of te Finance *arties under te Finance #ocu0ents or of any oter guarantee or security ta7en %ursuant toD or in connection witD te Finance #ocu0ents by any Finance *arty!
"1!2 Additional security
Tis guarantee is in addition to and is not in any way %reJudiced by any oter guarantee or security now or subseuent(y e(d by any Finance *arty!
"
6 1& 6
&%"T*#$ 3 /%P/%&%$TAT*#$&, '$4%/TAE*$(& A$4 %B%$T& # 4%A'LT )3.
/%P/%&%$TAT*#$&
Eac ,b(igor 0a7es te re%resentations and warranties set out in tis C(ause "2 to eac Finance *arty on te date of tis Agree0ent! "2!" &tatus @a
It is a cor%orationD du(y incor%orated and 8a(id(y e4isting under te (aws of its Jurisdiction of incor%oration!
@b
It and eac of its 9ubsidiaries as te %ower to own its assets and carry on its business as it is being conducted!
"2!' 8inding obligations
Te ob(igations e4%ressed to be assu0ed by it in eac Finance #ocu0ent areD subJect to any genera( %rinci%(es of (aw (i0iting its ob(igations wic are s%eci$ca((y referred to in any (ega( o%inion de(i8ered in accordance wit C(ause + @"onditions o% Uti!isationD (ega(D 8a(idD binding and enforceab(e ob(igations! "2!) $on-conFict !ith other obligations
Te entry into and %erfor0ance by it ofD and te transactions conte0%(ated byD te Finance #ocu0ents do not and wi(( not conKict wit? @a
any (aw or regu(ation a%%(icab(e to it
@b
its [and eac of its 9ubsidiaries] constitutiona( docu0ents or
@c
any agree0ent or instru0ent binding u%on it [or any of its 9ubsidiaries] or any of its [or any of its 9ubsidiaries] assets!
"2!+ Po!er and authority
It as te %ower to enter intoD %erfor0 and de(i8erD and as ta7en a(( necessary action to autorise its entry intoD %erfor0ance and de(i8ery ofD te Finance #ocu0ents to wic it is a %arty and te transactions conte0%(ated by tose Finance #ocu0ents! "2!. Balidity and admissibility in eidence
A(( Autorisations reuired or desirab(e?
"
@a
to enab(e it (awfu((y to enter intoD e4ercise its rigts and co0%(y wit its ob(igations in te Finance #ocu0ents to wic it is a %arty
@b
to 0a7e te Finance #ocu0ents to wic it is a %arty ad0issib(e in e8idence in its Jurisdiction of incor%oration and
6 1& 6
@c
for it [and its 9ubsidiaries] to carry on [teir]H[its] businessD and wic are 0ateria(D
a8e been obtained or e:ected and are in fu(( force and e:ect! "2!/ (oerning la! and enorcement @a
Te coice of Eng(is (aw as te go8erning (aw of te Finance #ocu0ents wi(( be recognised and enforced in its Jurisdiction of incor%oration!
@b
Any Judg0ent obtained in Eng(and in re(ation to a Finance #ocu0ent wi(( be recognised and enforced in its Jurisdiction of incor%oration!
"2!1 4eduction o Tax
It is not reuired under te (aw a%%(icab(e were it is incor%orated or resident or at te address s%eci$ed in tis Agree0ent to 0a7e any deduction for or on account of Ta4 fro0 any %ay0e nt it 0ay 0a7e under any Finance #ocu0ent! "2!2 $o fling or stamp taxes
-nder te (aw of its Jurisdiction of incor%oration it is not necessary tat te Finance #ocu0ents be $(edD recorded or enro((ed wit any court or oter autority in tat Jurisdiction or tat any sta0%D registration or si0i(ar ta4 be %aid on or in re(ation to te Finance #ocu0ents or te transactions conte0%(ated by te Finance #ocu0ents! "2!3 $o deault @a
No E8ent of #efau(t is continuing or 0igt reasonab(y be e4%ected to resu(t fro0 te 0a7ing of any -ti(isation!
@b
No oter e8ent or circu0stance is outstanding wic constitutes a defau(t under any oter agree0ent or instru0ent wic is binding on it [or any of its 9ubsidiaries] or to wic its [@or any of its 9ubsidiaries] assets are subJect wic 0igt a8e a Materia( Ad8erse E:ect!
"2!"& $o misleading inormation @a
[Any factua( infor0ation contained in or %ro8ided by any 0e0ber of te Grou% for te %ur%oses of te Infor0ation Me0orandu0 was true and accurate in a(( 0ateria( res%ects as at te date it was %ro8ided or as at te date @if any at wic it is stated!
@b
Any $nancia( %roJections contained in te Infor0ation Me0orandu0 a8e been %re%ared on te basis of recent istorica( infor0ation and on te basis of reasonab(e assu0%tions!
@c
Noting as occurred or been o0itted fro0 te Infor0ation Me0orandu0 and no infor0ation as been gi8en or wite(d tat
"
6 1& 6
resu(ts in te infor0ation contained in te Infor0ation Me0orandu0 being untrue or 0is(eading in any 0ateria( res%ect!] . @d
A(( infor0ation [@oter tan te Infor0ation Me0orandu0] / su%%(ied by any 0e0ber of te Grou% is trueD co0%(ete and accurate in a(( 0ateria( res%ects as at te date it was gi8en and is not 0is(eading in any res%ect!
"2!"" inancial statements @a
Its ,rigina( Financia( 9tate0ents were %re%ared in accordance wit GAA* consistent(y a%%(ied sa8e to te e4tent e4%ress(y disc(osed in suc ,rigina( Financia( 9tate0ents!
@b
Its ,rigina( Financia( 9tate0ents gi8e a true and fair 8iew and re%resent its $nancia( condition and o%erations @conso(idated in te case of te [5orrowerHGuarantor] during te re(e8ant $nancia( year sa8e to te e4tent e4%ress(y disc(osed in suc ,rigina( Financia( 9tate0ents!
@c
Tere as been no 0ateria( ad8erse cange in its business or $nancia( condition @or te business or conso(idated $nancia( condition of te Grou%D in te case of te [5orrowerHGuarantor] since [ ]!
"2!"' Pari passu ranking
Its %ay0ent ob(igations under te Finance #ocu0ents ran7 at (east %ari %assu wit te c(ai0s of a(( of its oter unsecured and unsubordinated creditorsD e4ce%t for ob(igations 0andatori(y %referred by (aw a%%(ying to co0%anies genera((y! "2!") $o proceedings pending or threatened
No (itigationD arbitration or ad0inistrati8e %roceedings of or before any courtD arbitra( body or agency wicD if ad8erse(y deter0inedD 0igt reasonab(y be e4%ected to a8e a Materia( Ad8erse E:ect a8e @to te best of its 7now(edge and be(ief been started or treatened against it [or any of its 9ubsidiaries]! "2!"+ Authorised &ignatures
Any %erso n s%eci$ed as its autorised signatory under 9cedu(e ' @"onditions #recedent or C(ause "3!+@d @ In%ormation1 misce!!aneous is autorised to sign -ti(isation Reuests @in te case of te 5orrower on(y and oter notices on its bea(f! "2!". /epetition
Te Re%eating Re%resentations are dee0ed to be 0ade by eac ,b(igor by reference to te facts and circu0stances ten e4isting on .
#e(ete if tere is no Infor0ation Me0orandu0!
/
#e(ete if tere is no Infor0ation Me0orandu0!
"
6 1& 6
te date of eac -ti(isation Reuest and te $rst day of eac Interest *eriod! )5.
*$#/MAT*#$ '$4%/TAE*$(&
Te underta7ings in tis C(ause "3 re0ain in force fro0 te date of tis Agree0ent for so (ong as any a0ount is outstanding under te Finance #ocu0ents or any Co00it0ent is in force! "3!" inancial statements
Te 5orrower sa(( su%%(y to te Agent in sucient co%ies for a(( te Lenders? @a
@b
as soon as te sa0e beco0e a8ai(ab(eD but in any e8ent witin [ ] days after te end of eac of its $nancia( years? @i
its audited [conso(idated] $nancia( state0ents for tat $nancia( year and
@ii
te audited [conso(idated] $nancia( state0ents of te Guarantor for tat $nancia( year and
as soon as te sa0e beco0e a8ai(ab(eD but in any e8ent witin [ ] days after te end of te $rst a(f of eac of its $nancia( years? @i
its [conso(idated] $nancia( state0ents for tat $nancia( a(f year[ and
@ii
te [conso(idated] $nancia( state0ents of te Guarantor for tat $nancia( a(f year]!
"3!' "ompliance "ertifcate @a
Te 5orrower sa(( su%%(y to te AgentD wit eac set of $nancia( state0ents de(i8ered %ursuant to %aragra% @a@i or @b[@i] of C(ause "3!" @Financia! statementsD a Co0%(iance Certi$cate setting out @in reasonab(e detai( co0%utations as to co0%(iance wit C(ause '& @Financia! co&enants as at te date as at wic tose $nancia( state0ents were drawn u%!
@b
[Eac Co0%(iance Certi$cate de(i8ered %ursuant to %aragra% @a@i of C(ause "3!" @Financia! statements sa(( be [signed by te 5orrowers auditors]H[re%orted on by te 5orrowers auditors in te for0 agreed by te 5orrower and a(( te Lenders before te date of tis Agree0ent]!]
"3!) /e=uirements as to fnancial statements @a
"
Eac set of $nancia( state0ents de(i8ered by te 5orrower %ursuant to C(ause "3!" @Financia! statements sa(( be certi$ed by a director of
6 1& 6
te re(e8ant 5orrower as fair(y re%resenting its $nancia( condition as at te date as at wic tose $nancia( state0ents were drawn u%! @b
[Te 5orrower sa(( %rocure tat eac set of $nancia( state0ents de(i8ered %ursuant to C(ause "3!" @Financia! statements is %re%ared using GAA*!]
@c
[Te 5orrower sa(( %rocure tat eac set of $nancia( state0ents of an ,b(igor de(i8ered %ursuant to C(ause "3!" @Financia! statements is %re%ared using GAA*D accounting %ractices and $nancia( reference %eriods consistent wit tose a%%(ied in te %re%aration of te ,rigina( Financia( 9tate0ents for tat ,b(igor un(essD in re(ation to any set of $nancia( state0entsD it noti$es te Agent tat tere as been a cange in GAA*D te accounting %ractices or reference %eriods and its auditors @orD if a%%ro%riateD te auditors of te ,b(igor de(i8er to te Agent? @i
a descri%tion of any cange necessary for tose $nancia( state0ents to reKect te GAA*D accounting %ractices and reference %eriods u%on wic tat ,b(igors ,rigina( Financia( 9tate0ents were %re%ared and
@ii
sucient infor0ationD in for0 and substance as 0ay be reasonab(y reuired by te AgentD to enab(e te Lenders to deter0ine weter C(ause @Financia! co&enants as been co0%(ied wit and 0a7e an '& accurate co0%arison between te $nancia( %osition indicated in tose $nancia( state0ents and tat ,b(igors ,rigina( Financia( 9tate0ents!
Any reference in tis Agree0ent to tose $nancia( state0ents sa(( be construed as a reference to tose $nancia( state0ents as adJusted to reKect te basis u%on wic te ,rigina( Financia( 9tate0ents were %re%ared!] "3!+ *normationG miscellaneous
Te 5orrower sa(( su%%(y to te Agent @in sucient co%ies for a(( te Finance *artiesD if te Agent so reuests?
"
@a
a(( docu0ents dis%atced by te 5orrower to its sareo(ders @or any c(ass of te0 or its creditors genera((y at te sa0e ti0e as tey are des%atced
@b
%ro0%t(y u%on beco0ing aware of te0D te detai (s of any (itigationD arbitration or ad0inistrati8e %roceedings wic are currentD treatened or %ending against any 0e0ber of te Grou%D and wic 0igtD if ad8erse(y deter0inedD a8e a Materia( Ad8erse E:ect
6 1& 6
@c
%ro0%t(yD suc furter infor0ation regarding te $nancia( conditionD business and o%erations of any 0e0ber of te Grou% as any Finance *arty @troug te Agent 0ay reasonab(y reuest and
@d
%ro0%t(yD notice of any cange in autorised signatories of any ,b(igor signed by a director or co0%any secretary of suc ,b(igor acco0%anied by s%eci0en signatures of any new autorised signatories!
"3!. $otifcation o deault @a
Eac ,b(igor sa(( notify te Agent of any #efau(t @and te ste%sD if anyD being ta7en to re0edy it %ro0%t(y u%on beco0ing aware of its occurrence @un(ess tat ,b(igor is aware tat a noti$cation as a(ready been %ro8ided by anoter ,b(igor!
@b
*ro0%t(y u%on a reuest by te AgentD te 5orrower sa(( su%%(y to te Agent a certi$cate signed by two of its directors or senior ocers on its bea(f certifying tat no #efau(t is continuing @or if a #efau(t is continuingD s%ecifying te #efau(t and te ste%sD if anyD being ta7en to re0edy it!
"3!/ 'se o !ebsites @a
Te 5orrower 0ay satisfy its ob(igation under tis Agree0ent to de(i8er any infor0ation in re(ation Lenders @te Debsite Lenders B wo acce%t tis 0etodto oftose co00unication by B%osting te infor0ation onto an e(ectronic website designated by te 5orrower and te Agent @te B4esignated DebsiteB if? @i
te Agent e4%ress(y agrees @after consu(tation wit eac of te Lenders tat it wi(( acce%t co00unication of te infor0ation by tis 0etod
@ii
bot te 5orrower and te Agent are aware of te address of and any re(e8ant %assword s%eci$cations for te #esignated ;ebsite and
@iii
te infor0ation is in a for0at %re8ious(y agreed between te 5orrower and te Agent!
If any Lender @a BPaper orm LenderB does not agree to te de(i8ery of infor0ation e(ectronica((y ten te Agent sa(( notify te 5orrower according(y and te 5orrower sa(( su%%(y te infor0ation to te Agent @in sucient co%ies for eac *a%er For0 Lender in %a%er for0! In any e8ent te 5orrower sa(( su%%(y te Agent wit at (east one co%y in %a%er for0 of any infor0ation reuired to be %ro8ided by it!
"
6 1& 6
@b
Te Agent sa(( su%%(y eac ;ebsite Lender wit te address of and any re(e8ant %assword s%eci$cations for te #esignated ;ebsite fo((owing designation of tat website by te 5orrower and te Agent!
@c
Te 5orrower sa(( %ro0%t(y u%on beco0ing aware of its occurrence notify te Agent if? @i
te #esignated ;ebsite cannot be accessed due to tecnica( fai(ure
@ii
te %assword s%eci$cations for te #esignated ;ebsite cange
@iii
any new infor0ation wic is reuired to be %ro8ided under tis Agree0ent is %osted onto te #esignated ;ebsite
@i8
any e4isting infor0ation wic as been %ro8ided under tis Agree0ent and %osted onto te #esignated ;ebsite is a0ended or
@8
te 5orrower beco0es aware tat te #esignated ;ebsite or any infor0ation %osted onto te #esignated ;ebsite is or as been infected by any e(ectronic 8irus or si0i(ar software!
If te 5orrower noti$es te Agent under %aragra% @c@i or %aragra% @c@8 abo8eD a(( infor0ation to be %ro8ided by te 5orrower under tis Agree0ent after te date of tat notice sa(( be su%%(ied in %a%er for0 [un(ess and unti( te Agent and eac ;ebsite Lender is satis$ed tat te circu0stances gi8ing rise to te noti$cation are no (onger continuing]! @d
Any ;ebsite Lender 0ay reuestD troug te AgentD one %a%er co%y of any infor0ation reuired to be %ro8ided under tis Agree0ent wic is %osted onto te #esig nated ;ebsite! Te 5orrower sa(( co0%(y wit any suc reuest witin ten 5usiness #ays!
"3!1 HEno! your customerH checks @a
Eac ,b(igor sa(( %ro0%t(y u%on te reuest of te Agent su%%(yD or %rocure te su%%(y ofD suc docu0entation and oter e8idence as is reasonab(y reuested by te Agent @for itse(f or on bea(f of any Lender @inc(uding for any Lender on bea(f of any %ros%ecti8e new Lender in order for te AgentD suc Lender or any %ros%ecti8e new Lender to conduct any B7now your custo0erB or oter si0i(ar %rocedures under a%%(icab(e (aws and regu(ations!
@b
"
Eac Lender sa(( %ro0%t(y u%on te reuest of te Agent su%%(yD or %rocure te su%%(y ofD suc docu0entation and oter e8idence as is reasonab(y reuested by te Agent @for itse(f in order for te Agent to conduct any B7now your custo0erB or oter si0i(ar %rocedures under a%%(icab(e (aws and regu(ations!
6 1& 6
+6.
*$A$"*AL " #B%$A$T&
]1
[ +).
(%$%/AL '$4%/TAE*$(&
Te underta7ings in tis C(ause '" re0ain in force fro0 te date of tis Agree0ent for so (ong as any a0ount is outstanding under te Finance #ocu0ents or any Co00it0ent is in force! '"!" Authorisations
Eac ,b(igor sa(( %ro0%t(y? @a
obtainD co0%(y wit and do a(( tat is necessary to 0aintain in fu(( force and e:ect and
@b
su%%(y certi$ed co%ies to te Agent ofD
any Autorisation reuired to enab(e it to %erfor0 its ob(igations under te Finance #ocu0ents and to ensure te (ega(ityD 8a(idityD enforceabi(ity or ad0issibi(ity in e8idence in its Jurisdiction of incor%oration of any Finance #ocu0ent! '"!' "ompliance !ith la!s
Eac ,b(igor sa(( co0%(y in a(( res%ects wit a(( (aws to wic it 0ay be subJectD if fai(ure so to co0%(y wou(d 0ateria((y i0%air its abi(ity to %erfor0 its ob(igations under te Finance #ocu0ents! '"!) Pari passu ranking
Eac ,b(igor sa(( ensure tat its %ay0ent ob(igations under te Finance #ocu0ents ran7 and continue to ran7 at (east %ari %assu wit te c(ai0s of a(( of its oter unsecured and unsubordinated creditorsD e4ce%t for ob(igations 0andatori(y %referred by (aw a%%(ying to co0%anies genera((y! '"!+ $egatie pledge @a
No ,b(igor sa(( @and te [GuarantorH5orrower] sa(( ensure tat no oter 0e0ber of te Grou% wi(( create or %er0it to subsist any 9ecurity o8er any of its assets!
@b
No ,b(igor sa(( @and te [GuarantorH5orrower] sa(( ensure tat no oter 0e0ber of te Grou% wi((? @i se((D transfer or oterwise dis%ose of any of its assets on ter0s wereby tey are or 0ay be (eased to or re6acuired by an ,b(igor [or any oter 0e0ber of te Grou%] @ii
1
"
se((D transfer or oterwise dis%ose of any of its recei8ab(es on recourse ter0s
For sa0%(e $nancia( co8enantsD see A*LMA $nancia( co8enants %ub(ised se%arate(y!
6 1& 6
@iii
enter into or %er0it to subsist any tit(e retention arrange0ent
@i8
enter into or %er0it to subsist any arrange0ent under wic 0oney or te bene$t of a ban7 or oter account 0ay be a%%(iedD set6o: or 0ade subJect to a co0bination of accounts or
@8
enter into or %er0it to subsist arrange0ent a8ing a si0i(ar e:ectD
any
oter
%referentia(
in circu0stances were te arrange0ent or transaction is entered into %ri0ari(y as a 0etod of raising Financia( Indebtedness or of $nancing te acuisition of an asset! @c
*aragra%s @a and @b abo8e do not a%%(y to? @i
any 9ecurity (isted in [9cedu(e 2 @E/istin Security] e4ce%t to te e4tent te %rinci%a( a0ount secured by tat 9ecurity e4ceeds te a0ount stated in tat 9cedu(e
@ii
any netting or set6o: arrange0ent entered into by any 0e0ber of te Grou% in te ordinary course of its ban7ing arrange0ents for te %ur%ose of netting debit and credit ba(ances
@iii
any (ien arising by o%eration of (aw and in te ordinary course of trading proided that te debt wic is secured tereby is %aid wen due or contested in good fait by a%%ro%riate %roceedings and %ro%er(y %ro8isioned
@i8
any 9ecurity o8er or a:ecting any asset acuired by a 0e0ber of te Grou% after te date of tis Agree0ent if?
@8
@"
te 9ecurity was not created in conte0%(ation of te acuisition of tat asset by a 0e0ber of te Grou%
@'
te %rinci%a( a0ount secured as not been increased in conte0%(ation ofD or since te acuisition of tat asset by a 0e0ber of te Grou% and
@)
te 9ecurity is re0o8ed or discarged witin [ of te date of acuisition of suc asset
any 9ecurity o8er or a:ecting any asset of any %erson wic beco0es a 0e0ber of te Grou% after te date of tis Agree0entD were te 9ecurity is created %rior to te date on wic tat %erson beco0es a 0e0ber of te Grou%D if? @"
"
] 0onts
te 9ecurity was not created in conte0%(ation of te acuisition of tat %erson
6 1& 6
@'
te %rinci%a( a0ount secured as not increased in conte0%(ation of or since te acuisition of tat %erson and
@)
te 9ecurity is re0o8ed or discarged witin [ ] 0onts of tat %erson beco0ing a 0e0ber of te Grou%
@8i
any 9ecurity created %ursuant to any Finance #ocu0ent
@8ii
[
@8iii
any 9ecurity securing indebtedness te %rinci%a( a0ount of wic @wen aggregated wit te %rinci%a( a0ount of any oter indebtedness wic as te bene$t of 9ecurity gi8en by any 0e0ber of te Grou% oter tan any %er0itted under %aragra%s @i to @8ii abo8e does not e4ceed [ ] @or its eui8a(ent in anoter currency or currencies!
] or
'"!. 4isposals @a
No ,b(igor sa(( [@and te [GuarantorH5orrower] sa(( ensure tat no oter 0e0ber of te Grou% wi((]D enter into a sing(e transaction or a series of transactions @weter re(ated or not and weter 8o(untary or in8o(untary to se((D (easeD transfer or oterwise dis%ose of any asset!
@b
*aragra% @a abo8e does not a%%(y to any sa(eD (easeD transfer or oter dis%osa(? @i
0ade in te ordinary course of trading of te dis%osing entity
@ii
of assets in e4cange for oter assets co0%arab(e or su%erior as to ty%eD 8a(ue and ua(ity and for a si0i(ar %ur%ose
@iii
[
@i8
were te iger of te 0ar7et 8a(ue or consideration recei8ab(e @wen aggregated wit te iger of te 0ar7et 8a(ue or consideration recei8ab(e for any oter sa(eD (easeD transfer or oter dis%osa( by 0e0bers of te Grou%D oter tan any %er0i tted under %aragra%s @i to [@iii] abo8e does not e4ceed [ ] @or its eui8a(ent in anoter currency or currencies in any $nancia( year!
] or
'"!/ Merger
No ,b(igor sa(( @and te [GuarantorH5orrower] sa(( ensure tat no oter 0e0ber of te Grou% wi(( enter into any a0a(ga0ationD de0ergerD 0erger or cor%orate reconstruction!
"
6 1& 6
'"!1 "hange o business
Te [GuarantorH5orrower] sa(( %rocure tat no substantia( cange is 0ade to te genera( nature of te business of te ,b(igors or te Grou% fro0 tat carried on at te date of tis Agree0ent! '"!2 [%nironmental "ompliance
Eac ,b(igor sa(( @and te [5orrowerHGuarantor] sa(( ensure tat eac 0e0ber of te Grou% wi(( co0%(y in a(( 0ateria( res%ects wit a(( En8iron0enta( LawD obtain and 0aintain any En8iron0enta( *er0its and ta7e a(( reasonab(e ste%s in antici%ation of 7nown or e4%ected future canges to or ob(igations under En8iron0enta( Law or any En8iron0enta( *er0its! '"!3 %nironmental "laims
Eac ,b(igor sa(( infor0 te Agent in writing as soon as reasonab(y %racticab(e u%on beco0ing aware of? @a
any En8iron0enta( C(ai0 wic as been co00enced or @to te best of suc ,b(igors 7now(edge and be(ief is treatened against any 0e0ber of te Grou%D or
@b
any facts or circu0stances wic wi(( or 0igt reasonab(y be e4%ected to resu(t in any En8iron0enta( C(ai0 being co00enced or treatened against any 0e0ber of te Grou%D
in eac case were suc En8iron0ent C(ai0 0igt reasonab(y be e4%ectedD if deter0ined against tat 0e0ber of te Grou%D to a8e a Materia( Ad8erse E:ect!] '"!"& [Ac=uisitions @a
No ,b(igor sa(( [@and te [GuarantorH5orrower] sa(( ensure tat no oter 0e0ber of te Grou% wi((] acuire any co0%anyD businessD assets or underta7ing or 0a7e any in8est0ent!
@b
[*aragra% @a abo8e does not a%%(y to an acuisition or in8est0ent? @i
wic is in res%ect of assets or businesses in te sa0e nature and of te sa0e sco%e as te [GuarantorH5orrowerHGrou%]s business as conducted on te date of tis Agree0ent and
@ii
te 8a(ue of wic acuisition or in8est0ent @wen aggregated wit te 8a(ue of a(( oter acuisitions and in8est0ents %er0itted under tis C(ause and 0ade in te sa0e $nancia( year does not e4ceed [ ]D
%ro8ided tat suc acuisition or in8est0ent does not resu(t in a breac of any Autorisation or of any oter %ro8ision of tis Agree0ent!]
"
6 1& 6
'"!"" [Loans and (uarantees @a
No ,b(igor sa(( @and te [5orrowerHGuarantor] sa(( ensure tat no 0e0ber of te Grou% wi(( 0a7e any (oansD grant any credit @sa8e in te ordinary course of business or gi8e any guarantee or inde0nity @e4ce%t as reuired under any of te Finance #ocu0ents to or for te bene$t of any %erson or oterwise 8o(untari(y assu0e any (iabi(ityD weter actua( or contingentD in res%ect of any ob(igation of any %erson!
@b
[*aragra% @a abo8e does not a%%(y to? [ ]!]]
++.
%B%$T& # 4%A'LT
•
Eac of te e8ents or circu0stances set out in te fo((owing sub6 c(auses of tis C(ause '' @oter tan ''![" .] @ Acce!eration is an E8ent of #efau(t! ''!" $on-payment
An ,b(igor does not %ay on te due date any a0ount %ayab(e %ursuant to a Finance #ocu0ent at te %(ace at and in te currency in wic it is e4%ressed to be %ayab(e un(ess? @a
its fai(ure to %ay is caused by ad0inistrati8e or tecnica( error and
@b
%ay0ent is 0ade witin [
] 5usiness #ays of its due date!
''!' inancial coenants
Any reuire0ent of C(ause '& @Financia! co&enants is not satis$ed! ''!) #ther obligations @a
An ,b(igor does not co0%(y wit any %ro8ision of te Finance #ocu0ents @oter tan tose referred to in C(ause ''!" @Non0#ayment [and C(ause ''!' @Financia! co&enants]!
@b
No E8ent of #efau(t under %aragra% @a abo8e in re(ation to C(ause [ ] wi(( occur if te fai(ure to co0%(y is ca%ab(e of re0edy and is re0edied witin? @i
@in re(ation to [
@ii
@in re(ation to [
] [ ] [
] 5usiness #ays or ] 5usiness #aysD
of te Agent gi8ing notice to te 5orrower or te 5orrower beco0ing aware of te fai(ure to co0%(y! ''!+ Misrepresentation
Any re%resentation or state0ent 0ade or dee0ed to be 0ade by an ,b(igor in te Finance #ocu0ents or any oter docu0ent de(i8ered by or on bea(f of any ,b(igor under or in connection wit any Finance
"
6 1& 6
#ocu0ent is or %ro8es to a8e been incorrect or 0is(eading in any 0ateria( res%ect wen 0ade or dee0ed to be 0ade! ''!. "ross deault @a
Any Financia( Indebtedness of any 0e0ber of te Grou% is not %aid wen due nor witin any srcina((y a%%(icab(e grace %eriod!
@b
Any Financia( Indebtedness of any 0e0ber of te Grou% is dec(ared to be or oterwise beco0es due and %ayab(e %rior to its s%eci$ed 0aturity as a resu(t of an e8ent of defau(t @owe8er described!
@c
Any co00it0ent for any Financia( Indebtedness of any 0e0ber of te Grou% is cance((ed or sus%ended by a creditor of any 0e0ber of te Grou% as a resu(t of an e8ent of defau(t @owe8er described!
@d
Any creditor of any 0e0ber of te Grou% beco0es entit(ed to dec(are any Financia( Indebtedness of any 0e0ber of te Grou % due and %ayab(e %rior to its s%eci$ed 0aturity as a resu(t of an e8ent of defau(t @owe8er described!
@e
No E8ent of #efau(t wi(( occur under tis C(ause ''!. if te aggregate a0ount of Financia( Indebtedness or co00it0ent for Financia( Indebtedness fa((ing witin %aragra%s @a to @d abo8e is (ess tan [ ] @or its eui8a(ent in any oter currency or currencies!
''!/ *nsolency A 0e0ber of te Grou% is or is %resu0ed or dee0ed to be unab(e or @a
ad0its inabi(ity to %ay its debts as tey fa(( dueD sus%ends 0a7ing %ay0ents on any of its debts orD by reason of actua( or antici%ated $nancia( dicu(tiesD co00ences negotiations wit one or 0ore of its creditors wit a 8iew to rescedu(ing any of its indebtedness! @b
Te 8a(ue of te assets of any 0e0ber of te Grou% is (ess tan its (iabi(ities @ta7ing into account contingent and %ros%ecti8e (iabi(ities!
@c
A 0oratoriu0 is dec(ared in res%ect of any indebtedness of any 0e0ber of te Grou%!
''!1 *nsolency proceedings
Any cor%orate actionD (ega( %roceedings or oter %rocedure or ste% is ta7en in re(ation to? @a
"
te sus%ension of %ay0entsD a 0oratoriu0 of any indebtednessD winding6u%D disso(utionD ad0inistrationD %ro8isiona( su%er8ision or reorganisation @by way of 8o(untary arrange0entD sce0e of arrange0ent or oterwise of any 0e0ber of te Grou% oter tan a so(8ent (iuidation or reorganisation of any 0e0ber of te Grou% wic is not an ,b(igor
6 1& 6
@b
a co0%osition or arrange0ent wit any creditor of any 0e0ber of te Grou %D or an assign0ent for te bene$ t of creditors genera((y of any 0e0ber of te Grou% or a c(ass of suc creditors
@c
te a%%oint0ent of a (iuidator @oter tan in res%ect of a so(8ent (iuidation of a 0e0ber of te Grou% wic is not an ,b(igorD recei8erD ad0inistratorD ad0inistrati8e recei8erD co0%u(sory 0anagerD %ro8isiona( su%er8isor or oter si0i(ar ocer in res%ect of any 0e0ber of te Grou% or any of its assets or
@d
enforce0ent of any 9ecurity o8er any assets of any 0e0ber of te Grou%D
or any ana(ogous %rocedure or ste% is ta7en in any Jurisdiction! ''!2 "reditors@ process
Any e4%ro%riationD attac0entD seuestrationD distress or e4ecution a:ects any asset or assets of a 0e0ber of te Grou% [a8ing an aggregate 8a(ue of [ ]] [and is not discarged witin [ ] days]! ''!3 #!nership o the #bligors
Te [5orrowerHGuarantor] is not or ceases to be a 9ubsidiary of te [ ]! ''!"& 'nla!ulness
It is or beco0es un(awfu( for an ,b(igor to %erfor0 any of its ob(igations under te Finance #ocu0ents! ''!"" /epudiation
An ,b(igor re%udiates a Finance #ocu0ent or e8idences an intention to re%udiate a Finance #ocu0ent! ''!"' Moratorium on %xternal *ndebtedness
Te go8ern0ent of [insert name o% country]D centra( ban7 of [insert name o% country] or any Go8ern0enta( Agency of [insert name o% country] dec(ares a 0oratoriu0D standsti(( or si0i(ar sus%ension of %ay0ents in res%ect of its [E4terna( Indebtedness] 2 or te E4terna( Indebtedness of any %erson incor%oratedD do0ici(edD resident or situated in [insert name o% country]!] ''!") "essation o business
Te [5orrowerHGuarantor] sus%ends or ceases to carry on a(( or a 0ateria( %art of its business or of te business of te Grou% ta7en as a wo(e!] 2
"
Insert te fo((owing de$nition in C(ause "!"? %xternal B *ndebtednessB 0eans any Financia( Indebtedness wic is deno0inated or %ayab(e by its ter0sD or at te o%tion of te creditor in res%ect of suc Financia( IndebtednessD in a currency oter tan [currency of Jurisdiction of 5orrowerHGuarantor]!
6 1& 6
''!"+ Material aderse change
[
]!
''!". Acceleration
,n and at any ti0e after te occurrence of an E8ent of #efau(t wic is continuing te Agent 0ayD and sa(( if so directed by te MaJority LendersD by notice to te 5orrower?
"
@a
cance( te Tota( Co00it0ents i00ediate(y be cance((ed
@b
dec(are tat a(( or %art of te LoansD togeter wit accrued interestD and a(( oter a0ounts accrued or outstanding under te Finance #ocu0ents be i00ediate(y due and %ayab(eD wereu%on tey sa(( beco0e i00ediate(y due and %ayab(e andHor
@c
dec(are tat a(( or %art of te Loans be %ayab(e on de0andD wereu%on tey sa(( i00ediate(y beco0e %ayab(e on de0and by te Agent on te instructions of te MaJority Lenders!
6 1& 6
wereu%on
tey
sa((
&%"T*#$ 5 "7A$(%& T# PA/T*%& +.
"7A$(%& T# T7% L%$4%/&
')!" Assignments and transers by t he Lenders
9ubJect to tis C(ause ')D a Lender @te B %xisting LenderB 0ay? @a
assign any of its rigts or
@b
transfer by no8ation any of its rigts and ob(igationsD
to anoter ban7 or $nancia( institution or to a trustD fund or oter entity wic is regu(ar(y engaged in or estab(ised for te %ur%ose of 0a7ingD %urcasing or in8esting in (oansD securities or oter $nancia( assets @te B$e! LenderB! ')!' "onditions o assignment or transer @a
Te consent of te 5orrower is reuired for a transfer by a Lender of any of its ob(igations under te Finance #ocu0ents in res%ect of its A8ai(ab(e Co00it0ent un(ess te transfer is to anoter Lender or an A(iate of a Lender!
@b
Te consent of te 5orrower to a transfer 0ust not be unreasonab(y wite(d or de(ayed! Te 5orrower wi(( be dee0ed to a8e gi8en its consent $8e 5usiness #ays after te Lender as reuested it un(ess consent is e4%ress(y refused by te 5orrower witin tat ti0e!
@c
An assign0ent wi(( be e:ecti8e on(y on?
@d
"
@i
recei%t by te Agent of written con$r0ation fro0 te New Lender @in for0 and substance satisfactory to te Agent tat te New Lender wi(( assu0e te sa0e ob(igations to te oter Finance *arties as it wou(d a8e been under if it was an ,rigina( Lender and
@ii
noti$cation tat suc assign0ent is e:ecti8e by te Agent to te E4isting Lender and te New Lender %ro8ided tat te Agent is not ob(iged to gi8e suc noti$cation un(ess it is satis$ed tat it as co0%(eted a(( B7now your custo0erB and oter si0i(ar %rocedures re(ating to any %erson tat it is reuired to carry out @or dee0s desirab(e in re(ation to suc assign0ent to a New Lender!
A transfer wi(( be e:ecti8e on(y if te %rocedure set out in C(ause ')!. @(rocedure %or trans%er is co0%(ied wit!
6 1& 6
')!) Assignment or transer ee
Te New Lender sa((D on te date u%on wic an assign0ent or transfer ta7es e:ectD %ay to te Agent @for its own account a fee of [ ]! ')!+ Limitation o responsibility o %xisting Lenders @a
-n(ess e4%ress(y agreed to te contraryD an E4isting Lender 0a7es no re%resentation or warranty and assu0es no res%onsibi(ity to a New Lender for? @i
te (ega(ityD 8a(idityD e:ecti8enessD adeuacy or enforceabi(ity of te Finance #ocu0ents or any oter docu0ents
@ii
te $nancia( condition of any ,b(igor
@iii
te %erfor0ance and obser8ance by any ,b(igor of its ob(igations under te Finance #ocu0ents or any oter docu0ents or
@i8
te accuracy of any state0ents @weter written or ora( 0ade in or in connection wit any Finance #ocu0ent or any oter docu0entD
and any re%resentations or warranties i0%(ied by (aw are e4c(uded! @b
@c
@d
"
Eac New Lender con$r0s to te E4isting Lender and te oter Finance *arties tat it? @i
as 0ade @and sa(( continue to 0a7e its own inde%endent in8estigation and assess0ent of te $nancia( condition and a:airs of eac ,b(igor and its re(ated entities in connection wit its %artici%ation in tis Agree0ent and as not re(ied e4c(usi8e(y on any infor0ation %ro8ided to it by te E4isting Lender in connection wit any Finance #ocu0ent and
@ii
wi(( continue to 0a7e its own inde%endent a%%raisa( of te creditwortiness of eac ,b(igor and its re(ated entities wi(st any a0ount is or 0ay be outstanding under te Finance #ocu0ents or any Co00it0ent is in force!
Noting in any Finance #ocu0ent ob(iges an E4isting Lender to? @i
acce%t a re6transfer fro0 a New Lender of any of te rigts and ob(igations assigned or transferred under tis C(ause ') or
@ii
su%%ort any (osses direct(y or indirect(y incurred by te New Lender by reason of te non6%erfor0ance by any ,b(igor of its ob(igations under te Finance #ocu0ents or oterwise!
In re(ation to any assign0ent or transfer by an E4isting Lender under tis C(ause ')D te re(e8ant New Lender agrees to be bound by any
6 1& 6
consentD wai8er or decision gi8en or 0ade by suc E4isting Lender in connection wit te Finance #ocu0ents %rior to suc assign0ent or transfer! ')!. Procedure or transer @a
9ubJect to te conditions set out in C(ause ')!' @"onditions o% assinment or trans%er a transfer is e:ected in accordance wit %aragra% @c be(ow wen te Agent e4ecutes an oterwise du(y co0%(eted Transfer Certi$cate de(i8ered to it by te E4isting Lender and te New Lender! Te Agent sa((D as soon as reasonab(y %racticab(e after recei%t by it of a du(y co0%(eted Transfer Certi$cate a%%earing on its face to co0%(y wit te ter0s of tis Agree0ent and de(i8ered in accordance wit te ter0s of tis Agree0entD e4ecute tat Transfer Certi$cate!
@b
Te Agent sa(( not be ob(iged to e4ecute a Transfer Certi$cate de(i8ered to it by te E4isting Lender and te New Lender un(ess it is satis$ed tat it as co0%(eted a(( B7now your custo0erB and oter si0i(ar %rocedures tat it is reuired @or dee0s desirab(e to conduct in re(ation to te transfer to suc New Lender!
@c
,n te Transfer #ate? @i
to te e4tent tat in te Transfer Certi$cate te E4isting Lender see7s to transfer by no8ation itste rigts and ob(igations under te Finance #ocu0ents eac of ,b(igors and te E4isting Lender sa(( be re(eased fro0 furter ob(igations towards one anoter under te Finance #ocu0ents and teir res%ecti8e rigts against one anoter sa(( be cance((ed @being te B4ischarged /ights and #bligationsB
@ii
eac of te ,b(igors and te New Lender sa(( assu0e ob(igations towards one anoter andHor acuire rigts against one anoter wic di:er fro0 te #iscarged Rigts and ,b(igations on(y insofar as tat ,b(igor and te New Lender a8e assu0ed andHor acuired te sa0e in %(ace of tat ,b(igor and te E4isting Lender
@iii
te AgentD te ArrangerD te New Lender and oter Lenders sa(( acuire te sa0e rigts and assu0e te sa0e ob(igations between te0se(8es as tey wou(d a8e acuired and assu0ed ad te New Lender been an ,rigina( Lender wit te rigts andHor ob(igations acuired or assu0ed by it as a resu(t of te transfer and to tat e4tent te AgentD te Arranger and te E4isting Lender sa(( eac be re(eased fro0 furter ob(igations to eac oter under tis Agree0ent and
@i8
"
te New Lender sa(( beco0e a *arty as a BLenderB!
6 1& 6
')!/ "opy o Transer "ertifcate to 8orro!er
Te Agent sa((D as soon as reasonab(y %racticab(e after it as e4ecuted a Transfer Certi$cateD send to te 5orrower a co%y of tat Transfer Certi$cate! ')!1 %xclusion o Agent@s liability
In re(ation to any assign0ent or transfer %ursua nt to tis C(ause ')D eac *arty ac7now(edges and agrees tat te Agent sa(( not be ob(iged to enuire as to te accuracy of any re%resentation or warranty 0ade by a New Lender in res%ect of its e(igibi(ity as a Lender! +.
4*&"L#&'/% # *$#/MAT*#$
Any Finance *arty 0ay disc(ose to? @a
any of its A(iates
@b
its ead oce and any oter branc
@c
any oter Finance *arty
@d
any of its %rofessiona( ad8isers and oter %ersons %ro8iding ser8ices to it
@e
any ,b(igor
@f
any %erson %er0itted by any ,b(igor
@g
any %erson to wo0D and to te e4tent tatD infor0ation is reuired to be disc(osed by any a%%(icab(e (aw or regu(ation and
@
any oter %erson? @i
to @or troug wo0 tat Lender assigns or transfers @or 0ay %otentia((y assign or transfer a(( or any of its rigts and ob(igations under tis Agree0ent or
@ii
wit @or troug wo0 tat Lender enters into @or 0ay %otentia((y enter into any sub6%artici%ation in re(ation toD or any oter transaction under wic %ay0ents are to be 0ade by reference toD tis Agree0ent or any ,b(igor
any infor0ation about any ,b(igorD te Grou% and te Finance #ocu0ents as tat Finance *arty sa(( consider a%%ro%riate [ifD in re(ation to %aragra%s @@i and @@ii abo8eD te %erson to wo0 te infor0ation is to be gi8en as entered into a Con$dentia(ity -nderta7ing!] Tis C(ause su%ersedes any %re8ious agree0ent re(ating to te con$dentia(ity of suc infor0ation!
"
6 1& 6
&%"T*#$ )6 T7% *$A$"% PA/T*%& +0.
/#L% # T7% A(%$T A$4 T7% A//A$(%/
'.!" Appointment o the Agent @a
Eac of te oter Finance *arties a%%oints te Agent to act as its agent under and in connection wit te Finance #ocu0ents!
@b
Eac of te oter Finance *arties autorises te Agent to e4ercise te rigtsD %owersD autorities and discretions s%eci$ca((y gi8en to te Agent under or in connection wit te Finance #ocu0ents togeter wit any oter incidenta( rigtsD %owersD autorities and discretions!
'.!' 4uties o the Agent @a
Te Agent sa(( %ro0%t(y forward to a *arty te srcina( or a co%y of any docu0ent wic is de(i8ered to te Agent for tat *arty by any oter *arty!
@b
E4ce%t were a Finance #ocu0ent s%eci$ca((y %ro8ides oterwiseD te Agent is not ob(iged to re8iew or cec7 te adeuacyD accuracy or co0%(eteness of any docu0ent it forwards to anoter *arty!
@c
If te Agent recei8es notice fro0 a *arty referring to tis Agree0entD describing a #efau(t and stating tat te circu0stance described is a #efau(tD it sa(( %ro0%t(y notify te Lenders!
@d
If te Agent is aware of te non6%ay0ent of any %rinci%a(D interestD co00it0ent fee or oter fee %ayab(e to a Finance *arty @oter tan to te Agent or te Arran ger under tis Agree0ent it sa(( %ro0%t(y notify te oter Lenders!
@e
Te Agents duties under te Finance #ocu0ents are so(e(y 0ecanica( and ad0inistrati8e in nature! Te Agent sa(( a8e no oter duties sa8e as e4%ress(y %ro8ided for in te Finance #ocu0ents!
'.!) /ole o the Arranger
E4ce%t as s%eci$ca((y %ro8ided in te Finance #ocu0entsD te Arranger as no ob(igations of any 7ind to any oter *arty under or in connection wit any Finance #ocu0ent! '.!+ $o fduciary duties @a
Noting in tis Agree0ent constitutes te Agent or te Arranger as a trustee or $duciary of any oter %erson!
@b
Neiter te Agent nor te Arranger sa(( be bound to account to any Lender for any su0 or te %ro$t e(e0ent of any su0 recei8ed by it for its own account!
"
6 1& 6
'.!. 8usiness !ith the (roup
Te Agent and te Arranger 0ay acce%t de%osits fro0D (end 0oney to and genera((y engage in any 7ind of ban7ing or oter business wit any 0e0ber of te Grou%! '.!/ /ights and discretions o the Agent @a
@b
Te Agent 0ay re(y on? @i
any re%resentationD notice or docu0ent be(ie8ed by it to be genuineD correct and a%%ro%riate(y autorised and sa(( a8e no duty to 8erify any signature on any docu0ent and
@ii
any state0ent %ur%orted(y 0ade by a directorD autorised signatory or e0%(oyee of any %erson regarding any 0atters wic 0ay reasonab(y be assu0ed to be witin is 7now(edge or witin is %ower to 8erify!
Te Agent 0ay assu0e @un(ess it as recei8ed notice to te contrary in its ca%acity as agent for te Lenders tat? @i
no #efau(t as occurred @un(ess it as actua( 7now(edge of a #efau(t arising under C(ause ''!" @Non0#ayment
@ii
any rigtD %owerD autority or discretion 8ested in any *arty or te MaJority Lenders as not been e4ercised and
@iii
any notice or reuest 0ade by te 5orrower @oter tan a -ti(isation Reuest or 9e(ection Notice is 0ade on bea(f of and wit te consent and 7now(edge of a(( te ,b(igors!
@c
Te Agent 0ay engageD %ay for and re(y on te ad8ice or ser8ices of any (awyersD accountantsD sur8eyors or oter e4%erts!
@d
Te Agent 0ay act in re(ation to te Finance #ocu0ents troug its %ersonne( and agents!
@e
Te Agent 0ay disc(ose to any oter *arty any infor0ation it reasonab(y be(ie8es it as recei8ed as agent under tis Agree0ent!
@f
Notwitstanding any oter %ro8ision of any Finance #ocu0ent to te contraryD neiter te Agent nor te Arranger is ob(iged to do or o0it to do anyting if it wou(d or 0igt in its reasonab(e o%inion constitute a breac of any (aw or a breac of a $duciary duty or duty of con$dentia(ity!
'.!1 Ma:ority Lenders@ instructions @a
"
-n(ess a contrary indication a%%ears in a Finance #ocu0entD te Agent sa(( @i e4ercise any rigtD %owerD autority or discretion 8ested in it as Agent in accordance wit any instructions gi8en to it by te MaJority Lenders @orD if so instructed by te MaJority LendersD refrain fro0
6 1& 6
e4ercising any rigtD %owerD autority or discretion 8ested in it as Agent and @ii not be (iab(e for any act @or o0ission if it acts @or refrains fro0 ta7ing any action in accordance wit an instruction of te MaJority Lenders! @b
-n(ess a contrary indication a%%ears in a Finance #ocu0entD any instructions gi8en by te MaJority Lenders wi(( be binding on a(( te Finance *arties!
@c
Te Agent 0ay refrain fro0 acting in accordance wit te instructions of te MaJority Lenders @orD if a%%ro%riateD te Lenders or under %aragra% @d be(ow unti( it as recei8ed suc security as it 0ay reuire for any costD (oss or (iabi(ity @togeter wit any associated Indirect Ta4 wic it 0ay incur in co0%(ying wit te instructions!
@d
In te absence of instructions fro0 te MaJority LendersD @orD if a%%ro%riateD te Lenders te Agent 0ay act @or refrain fro0 ta7ing action as it considers to be in te best interest of te Lenders!
@e
Te Agent is not autorised to act on bea(f of a Lender @witout $rst obtaining tat Lenders consent in any (ega( or arbitration %roceedings re(ating to any Finance #ocu0ent!
'.!2 /esponsibility or documentation
Neiter te Agent nor te Arranger? @a
is res%onsib(e for te adeuacyD accuracy andHor co0%(eteness of any infor0ation @weter ora( or written su%%(ied by te AgentD te ArrangerD an ,b(igor or any oter %erson gi8en in or in connection wit any Finance #ocu0ent or te [Infor0ation Me0orandu0] or
@b
is res%onsib(e for te (ega(ityD 8a(idityD e:ecti8enessD adeuacy or enforceabi(ity of any Finance #ocu0ent or any oter agree0entD arrange0ent or docu0ent entered intoD 0ade or e4ecuted in antici%ation of or in connection wit any Finance #ocu0ent!
'.!3 %xclusion o liability @a
;itout (i0iting %aragra% @b be(owD te Agent sa(( not be (iab(e for any costD (oss or (iabi(ity incurred by any *arty as a conseuence of?
"
@i
te Agent a8ing ta7en or a8ing o0itted to ta7e any action under or in connection wit any Finance #ocu0entD un(ess direct(y caused by te Agents gross neg(igence or wi(fu( 0isconduct or
@ii
any de(ay in te crediting to any account of an a0ount reuired under te Finance #ocu0ents to be %aid by te AgentD if te Agent sa(( a8e ta7en a(( necessary ste%s as soon as
6 1& 6
reasonab(y %racticab(e to co0%(y wit te regu(ations or o%erating %rocedures of any recognised c(earing or sett(e0ent syste0 used by te Agent for te %ur%ose of suc %ay0ent! @b
No *arty @oter tan te Agent 0ay ta7e any %roceedings against any ocerD e0%(oyee or agent of te Agent in res%ect of any c(ai0 it 0igt a8e against te Agent or in res%ect of any act or o0ission of any 7ind by tat ocerD e0%(oyee or agent in re(ation to any Finance #ocu0ent and any ocerD e0%(oyee or agent of te Agent 0ay re(y on tis C(ause [subJect to C(ause "!) @Third (arty Rihts and te %ro8isions of te Tird *arties Act]3!
@c
Noting in tis Agree0ent sa(( ob(ige te Agent or te Arranger to conduct any B7now your custo0erB or oter %rocedures in re(ation to any %erson on bea(f of any Lender and eac Lender con$r0s to te Agent and te Arranger tat it is so(e(y res%onsib(e for any suc %rocedures it is reuired to conduct and tat it sa(( not re(y on any state0ent in re(ation to suc %rocedures 0ade by te Agent or te Arranger!
'.!"& Lenders@ indemnity to the Agent
Eac Lender sa(( @in %ro%ortion to its sare of te Tota( Co00it0ents orD if te Tota( Co00it0ents are ten eroD to its sare of te Tota( Co00it0ents i00ediate(y %rior to teir reduction to ero inde0nify te AgentD witin tree 5usiness #ays of de0andD against any costD (oss or (iabi(ity incurred by te Agent @oterwise tan by reason of te Agents gross neg(igence or wi(fu( 0isconduct in acting as Agent under te Finance #ocu0ents @un(ess te Agent as been rei0bursed by an ,b(igor %ursuant to a Finance #ocu0ent! '.!"" /esignation o the Agent @a
Te Agent 0ay resign and a%%oint one of its A(iates acting troug an oce in [insert name o% country] as successor by gi8ing notice to te oter Finance *arties and te 5orrower!
@b
A(ternati8e(y te Agent 0ay resign by gi8ing notice to te oter Finance *arties and te 5orrowerD in wic case te MaJority Lenders @after consu(tation wit te 5orrower 0ay a%%oint a successor Agent!
@c
If te MaJority Lenders a8e not a%%ointed a successor Agent in accordance wit %aragra% @b abo8e witin )& days after notice of resignation was gi8enD te Agent @after consu(tation wit te 5orrower 0ay a%%oint a successor Agent [@acting troug an oce in [ ]]!
@d
Te retiring Agent sa(( 0a7e a8ai(ab(e to te successor Agent suc docu0ents and records and %ro8ide suc assistance as te successor
3
"
,n(y inc(ude te words in brac7ets if second o%tion in C(ause "!) as been used!
6 1& 6
Agent 0ay reasonab(y reuest for te %ur%oses of %erfor0ing its functions as Agent under te Finance #ocu0ents! @e
Te Agents resignation notice sa(( ta7e e:ect on(y u%on te a%%oint0ent of a successor!
@f
-%on te a%%oint0ent of a successorD te retiring Agent sa(( be discarged fro0 any furter ob(igation in res%ect of te Finance #ocu0ents but sa(( re0ain entit(ed to te bene$t of tis C(ause '.! Its successor and eac of te oter *arties sa(( a8e te sa0e rigts and ob(igations a0ongst te0se(8es as tey wou(d a8e ad if suc successor ad been an srcina( *arty!
@g
After consu(tation wit te 5orrowerD te MaJority Lenders 0ayD by notice to te AgentD reuire it to resign in accordance wit %aragra% @b abo8e! In tis e8entD te Agent sa(( resign in accordance wit %aragra% @b abo8e!
'.!"' "onfdentiality @a
In acting as agent for te Finance *artiesD te Agent sa(( be regarded as acting troug its agency di8ision wic sa(( be treated as a se%arate entity fro0 any oter of its di8isions or de%art0ents!
@b
If infor0ation is recei8ed by anoter di8ision or de%art0ent of te AgentD it 0ay be treated as con$dentia( to tat di8ision or de%art0ent and te Agent sa(( not be dee0ed to a8e notice of it!
'.!") /elationship !ith the Lenders
9ubJect to C(ause '1!' @'istributions by the Aent D te Agent 0ay treat eac Lender as a LenderD entit(ed to %ay0ents under tis Agree0ent and acting troug its Faci(ity ,ce un(ess it as recei8ed not (ess tan $8e 5usiness #ays %rior notice fro0 tat Lender to te contrary in accordance wit te ter0s of tis Agree0ent! '.!"+ "redit appraisal by the Lenders
;itout a:ecting te res%onsibi(ity of any ,b(igor for infor0ation su%%(ied by it or on its bea(f in connection wit any Finance #ocu0entD eac Lender con$r0s to te Agent and te Arranger tat it as beenD and wi(( continue to beD so(e(y res%onsib(e for 0a7ing its own inde%endent a%%raisa( and in8estigation of a(( ris7s arising under or in connection wit any Finance #ocu0ent inc(uding but not (i0ited to?
"
@a
te $nancia( conditionD status and nature of eac 0e0ber of te Grou%
@b
te (ega(ityD 8a(idityD e:ecti8enessD adeuacy or enforceabi(ity of any Finance #ocu0ent and any oter agree0entD arrange0ent or docu0ent entered intoD 0ade or e4ecuted in
6 1& 6
antici%ation ofD under or in connection wit any Finance #ocu0ent @c
weter tat Lender as recourseD and te nature and e4tent of tat recourseD against any *arty or any of its res%ecti8e assets under or in connection wit any Finance #ocu0entD te transactions conte0%(ated by te Finance #ocu0ents or any oter agree0entD arrange0ent or docu0ent entered intoD 0ade or e4ecuted in antici%ation ofD under or in connection wit any Finance #ocu0ent and
@d
te adeuacyD accuracy andHor co0%(eteness of te [Infor0ation Me0orandu0 and any oter] infor0ation %ro8ided by te AgentD any *arty or by any oter %erson under or in connection wit any Finance #ocu0entD te transactions conte0%(ated by te Finance #ocu0ents or any oter agree0entD arrange0ent or docu0ent entered intoD 0ade or e4ecuted in antici%ation ofD under or in connection wit any Finance #ocu0ent!
'.!". /eerence 8anks
If a Reference 5an7 @orD if a Reference 5an7 is not a LenderD te Lender of wic it is an A(iate ceases to be a LenderD te Agent sa(( @in consu(tation wit te 5orrower a%%oint anoter Lender or an A(iate of a Lender or any ban7 a%%ro8ed by te MaJority Lenders to re%(ace tat Reference 5an7! '.!"/ 4eduction rom amounts payable by the Agent
If any *arty owes an a0ount to te Agent under te Finance #ocu0ents te Agent 0ayD after gi8ing notice to tat *artyD deduct an a0ount not e4ceeding tat a0ount fro0 any %ay0ent to tat *arty wic te Agent wou(d oterwise be ob(iged to 0a7e under te Finance #ocu0ents and a%%(y te a0ount deducted in or towards satisfaction of te a0ount owed! For te %ur%oses of te Finance #ocu0ents tat *arty sa(( be regarded as a8ing recei8ed any a0ount so deducted! '.!"1 Agent@s Management Time
Any a0ount %ayab(e to te Agent under C(ause ".!) @Indemnity to the AentD C(a use ". @"osts and e/#enses and C(a use '.!"& @Lenders. indemnity to the Aent sa(( inc(ude te cost of uti(ising te Agents 0anage0ent ti0e or oter resources and wi(( be ca(cu(ated on te basis of suc reasonab(e dai(y or our(y rates as te Agent 0ay notify to te 5orrower and te LendersD and is in addition to any fee %aid or %ayab(e to te Agent under C(ause "" @Fees!]
"
6 1& 6
+1.
&7A/*$( AM#$( T7% *$A$"% PA/T*%&
'/!" Payments to inance Parties
If a Finance *arty @a B /ecoering inance Party B recei8es or reco8ers any a0ount fro0 an ,b(igor oter tan in accordance wit C(ause '1 @(ayment mechanics and a%%(ies tat a0ount to a %ay0ent due under te Finance #ocu0ents ten? @a
te Reco8ering Finance *arty sa((D witin tree 5usiness #aysD notify detai(s of te recei%t or reco8eryD to te Agent
@b
te Agent sa(( deter0ine weter te recei%t or reco8ery is in e4cess of te a0ount te Reco8ering Finance *arty wou(d a8e been %aid ad te recei%t or reco8ery been recei8ed or 0ade by te Agent and distributed in accordance wit C(ause '1 @(ayment mechanicsD witout ta7ing account of any Ta4 wic wou(d be i0%osed on te Agent in re(ation to te recei%tD reco8ery or distribution and
@c
te Reco8ering Finance *arty sa((D witin tree 5usiness #ays of de0and by te AgentD %ay to te Agent an a0ount @te B&haring PaymentB eua( to suc recei%t or reco8ery (ess any a0ount wic te Agent deter0ines 0ay be retained by te Reco8ering Finance *arty as its sare of any %ay0ent to be 0adeD in accordance wit C(ause '1!. @(artia! #ayments!
'/!' /edistribution o payments
Te Agent sa(( treat te 9aring *ay0ent as if it ad been %aid by te re(e8ant ,b(igor and distribute it between te Finance *arties @oter tan te Reco8ering Finance *arty in accordance wit C(ause '1!. @(artia! #ayments! '/!) /ecoering inance Party@s rights @a
,n a distribution by te Agen t under C(aus e '/!' @Redistribution o% #aymentsD te Reco8ering Finance *arty wi(( be subrogated to te rigts of te Finance *arties wic a8e sared in te redistribution!
@b
If and to te e4tent tat te Reco8ering Finance *arty is not ab(e to re(y on its rigts under %aragra% @a abo8eD te re(e8ant ,b(igor sa(( be (iab(e to te Reco8ering Finance *arty for a debt eua( to te 9aring *ay0ent wic is i00ediate(y due and %ayab(e!
'/!+ /eersal o redistribution
If any %art of te 9aring *ay0ent recei8ed or reco8ered by a Reco8ering Finance *arty beco0es re%ayab(e and is re%aid by tat Reco8ering Finance *artyD ten? @a
"
eac Finance *arty wic as recei8ed a sare of te re(e8ant 9aring *ay0ent %ursuant to C(ause '/!' @Redistribution o% #ayments sa((D u%on reuest of te AgentD %ay to te Agent
6 1& 6
for account of tat Reco8ering Finance *arty an a0ount eua( to te a%%ro%riate %art of its sare of te 9aring *ay0ent @togeter wit an a0ount as is necessary to rei0burse tat Reco8ering Finance *arty for its %ro%ortion of any interest on te 9aring *ay0ent wic tat Reco8ering Finance *arty is reuired to %ay and @b
tat Reco8ering Finance *artys rigts of subrogation in res%ect of any rei0burse0ent sa(( be cance((ed and te re(e8ant ,b(igor wi(( be (iab(e to te rei0bursing Finance *arty for te a0ount so rei0bursed!
'/!. %xceptions @a
Tis C(ause '/ sa(( not a%%(y to te e4tent tat te Reco8ering Finance *arty wou(d notD after 0a7ing any %ay0ent %ursuant to tis C(auseD a8e a 8a(id and enforceab(e c(ai0 against te re(e8ant ,b(igor!
@b
A Reco8ering Finance *arty is not ob(ige d to sare wit any oter Finance *arty any a0ount wic te Reco8ering Finance *arty as recei8ed or reco8ered as a resu(t of ta7ing (ega( or arbitration %roceedingsD if? @i
@ii
"
it noti$ed tat oter Finance *arty of te (ega( or arbitration %roceedings and tat oter Finance *arty ad an o%%ortunity to %artici%ate in tose (ega( or arbitration %roceedings but did not do so as soon as reasonab(y %racticab(e a8ing recei8ed notice and did not ta7e se%arate (ega( or arbitration %roceedings!
6 1& 6
&%"T*#$ )) A4M*$*&T/AT*#$ +2.
PA>M%$T M %"7A$*"&
'1!" Payments to the Agent @a
,n eac date on wic an ,b(igor or a Lender is reuired to 0a7e a %ay0ent under a Finance #ocu0entD tat ,b(igor or Lender sa(( 0a7e te sa0e a8ai(ab(e to te Agent @un(ess a contrary indication a%%ears in a Finance #ocu0ent for 8a(ue on te due date at te ti0e and in suc funds s%eci$ed by te Agent as being custo0ary at te ti0e for sett(e0ent of transactions in te re(e8ant currency in te %(ace of %ay0ent!
@b
*ay0ent sa(( be 0ade to suc account in te %rinci%a( $nancia( centre of te coun try of tat currency [@orD in re(ation to euroD in a %rinci%a( $nancia( centre in a *artici%ating Me0ber 9tate or London] "& wit suc ban7 as te Agent s%eci$es!
'1!' 4istributions by the Agent @a
Eac %ay0ent recei8ed by te Agent under te Finance #ocu0ents for anoter *arty sa((D subJect to C(ause '1!) @'istributions to an Ob!ior and C(ause '1!+ @"!a2bac, be 0ade a8ai(ab(e by te Agent as soon as %racticab(e after recei%t to te *arty entit(ed to recei8e %ay0ent in accordance wit tis Agree0ent @in te case of a LenderD for te account of its Faci(ity ,ceD to suc account as tat *arty 0ay notify to te Agent by not (ess tan $8e 5usiness #ays notice wit a ban7 in te %rinc i%a( $nancia( centre of te count ry of tat currency [@orD in re(ation to euroD in te %rinci%a( $nancia( centre of a *artici%ating Me0ber 9tate or London]""!
@b
Te Agent sa(( distribute %ay0ents recei8ed by it in re(ation to a(( or any %art of a Loan to te Lender indicated in te records of te Agent as being so entit(ed on tat date *ro8ided tat te Agent is autorised to distribute %ay0ents to be 0ade on te date on wic any transfer beco0es e:ecti8e %ursuant to C(ause ') @"hanes to the Lenders to te Lender so entit(ed i00ediate(y before suc transfer too7 %(ace regard(ess of te %eriod to wic suc su0s re(ate!
'1!) 4istributions to an #bligor
Te Agent 0ay @wit te consent of te ,b(igor or in accordance wit C(ause '2 @Set0o3 a%%(y any a0ount recei8ed by it for tat ,b(igor in or towards %ay0ent @on te date and in te currency and funds of recei%t of any a0ount due fro0 tat ,b(igor under te Finance #ocu0ents or in or towards %urcase of any a0ount of any currency to be so a%%(ied!
"& ""
"
Inc(ude if te Loan is in euros! Inc(ude if te Loan is in euros!
6 1& 6
'1!+ "la!back @a
;ere a su0 is to be %aid to te Agent under te Finance #ocu0ents for anoter *artyD te Agent is not ob(iged to %ay tat su0 to tat oter *arty @or to enter into or %erfor0 any re(ated e4cange contract unti( it as been ab(e to estab(is to its satisfaction tat it as actua((y recei8ed tat su0!
@b
If te Agent %ays an a0ount to anoter *arty and it %ro8es to be te case tat te Agent ad not actua((y recei8ed tat a0ountD ten te *arty to wo0 tat a0ount @or te %roceeds of any re(ated e4cange contract was %aid by te Agent sa(( on de0and refund te sa0e to te Agent toget er wit interest on tat a0ount fro0 te date of %ay0ent to te date of recei%t by te AgentD ca(cu(ated by te Agent to reKect its cost of funds!
'1!. Partial payments @a
If te Agent recei8es a %ay0ent tat is insucient to discarge a(( te a0ounts ten due and %ayab(e by an ,b(igor under te Finance #ocu0entsD te Agent sa(( a%%(y tat %ay0ent towards te ob(igations of tat ,b(igor under te Finance #ocu0ents in te fo((owing order? @i
frstD in or towards %ay0en t %ro rata of any un%aid feesD costs and e4%enses of te Agent under te Finance #ocu0ents
@ii
secondlyD in or towards %ay0ent %ro rata of any accrued interestD fee @oter tan as %ro8ided in @i abo8e or co00ission due but un%aid under tis Agree0ent
@iii
thirdlyD in or towards %ay0ent %ro rata of any %rinci%a( due but un%aid under tis Agree0ent and
@i8
ourthlyD in or towards %ay0ent %ro rata of any oter su0 due but un%aid under te Finance #ocu0ents!
@b
Te Agent sa((D if so directed by te MaJority LendersD 8ary te order set out in %aragra%s @a@ii to @i8 abo8e!
@c
*aragra%s @a and @b abo8e wi(( o8erride any a%%ro%riation 0ade by an ,b(igor!
'1!/ $o set-o; by #bligors
A(( %ay0ents to be 0ade by an ,b(igor under te Finance #ocu0ents sa(( be ca(cu(ated and be 0ade witout @and free and c(ear of any deduction for set6o: or counterc(ai0! '1!1 8usiness 4ays @a
"
Any %ay0ent wic is due to be 0ade on a day tat is not a 5usiness #ay sa(( be 0ade on te ne4t 5usiness #ay in te sa0e ca(endar 0ont @if tere is one or te %receding 5usiness #ay @if tere is not!
6 1& 6
@b
#uring any e4tension of te due date for %ay0ent of any %rinci%a( or -n%aid 9u0 under %aragra% @a abo8eD interest is %ayab(e on te %rinci%a( or -n%aid 9u0 at te rate %ayab(e on te srcina( due date!
'1!2 "urrency o account @a
9ubJect to %aragra%s @b and @c be(owD [insert currency o% Loan] is te currency of account and %ay0ent for any su0 due fro0 an ,b(igor under any Finance #ocu0ent!
@b
Eac %ay0ent in res%ect of costsD e4%enses or Ta4es sa(( be 0ade in te currency in wic te costsD e4%enses or Ta4es are incurred!
@c
Any a0ount e4%ressed to be %ayab(e in a currency oter tan [insert currency of Loan] sa(( be %aid in tat oter currency!
'1!3 "hange o currency @a
-n(ess oterw ise %roibited by (awD if 0ore tan one currency or currency unit are at te sa0e ti0e recognised by te centra( ban7 of any country as te (awfu( currency of tat countryD ten? @i
any reference in te Finance #ocu0ents toD and any ob(igations arising under te Finance #ocu0ents inD te currency of tat country sa(( be trans(ated intoD or %aid inD te currency or currency unit of tat country designated by te Agent @after consu(tation wit te 5orrower and
@ii
any trans(ation fro0 one currency or currency unit to anoter sa(( be at te ocia( rate of e4cange recognised by te centra( ban7 for te con8ersion of tat currency or currency unit into te oterD rounded u% or down by te Agent @acting reasonab(y!
@b
If a cange in any currency of a country occursD tis Agree0ent wi((D to te e4tent te Agent @acting reasonab(y and after consu(tation wit te 5orrower s%eci$es to be necessaryD be a0ended to co0%(y wit any genera((y acce%ted con8entions and 0ar7et %ractice in te Re(e8ant Interban7 Mar7et and oterwise to reKect te cange in currency!]
+3.
&%T-#
A Finance *arty 0ay set o: any 0atured ob(igation due fro0 an ,b(igor under te Finance #ocu0ents @to te e4tent bene$cia((y owned by tat Finance *arty against any 0atured ob(igation owed by tat Finance *arty to tat ,b(igorD regard(ess of te %(ace of %ay0entD boo7ing branc or currency of eiter ob(igation! If te ob(igations are in di:erent currenciesD te Finance *arty 0ay con8ert eiter ob(igation at a 0ar7et rate of e4cange in its usua( course of business for te %ur%ose of te set6o:!
"
6 1& 6
+5.
$#T*"%&
'3!" "ommunications in !riting
Any co00unication to be 0ade under or in connection wit te Finance #ocu0ents sa(( be 0ade in writing andD un(ess oterwise statedD 0ay be 0ade by fa4 or (etter! '3!' Addresses
Te address and fa4 nu0ber @and te de%art0ent or ocerD if anyD for wose attention te co00unication is to be 0ade of eac *arty for any co00unication or docu0ent to be 0ade or de(i8ered under or in connection wit te Finance #ocu0ents is? @a
in te case of te 5orrowerD tat identi$ed wit its na0e be(ow
@b
in te case of eac Lender or any oter ,b(igorD tat noti$ed in writing to te Agent on or %rior to te date on wic it beco0es a *arty and
@c
in te case of te AgentD tat identi$ed wit its na0e be(owD
or any substitute addressD fa4 nu0ber or de%art0ent or ocer as te *arty 0ay notify to te Agent @or te Agent 0ay notify to te oter *artiesD if a cange is 0ade by te Agent by not (ess tan $8e 5usiness #ays notice! '3!) 4eliery Any co00unication or docu0ent 0ade or de(i8ered by one %erson to @a
anoter under or in connection wit te Finance #ocu0ents wi(( be e:ecti8e? @i
if by way of fa4D on(y wen recei8ed in (egib(e for0 or
@ii
if by way of (etterD on(y wen it as been (eft at te re(e8ant address or [$8e] 5usiness #ays after being de%osited in te %ost %ostage %re%aid in an en8e(o%e addressed to it at tat address
andD if a %articu(ar de%art0ent or ocer is s%eci$ed as %art of its address detai(s %ro8ided under C(ause '3!' @AddressesD if addressed to tat de%art0ent or ocer! @b
Any co00unication or docu0ent to be 0ade or de(i8ered to te Agent wi(( be e:ecti8e on(y wen actua((y recei8ed by te Agent and ten on(y if it is e4%ress(y 0ar7ed for te attention of te de%art0ent or ocer identi$ed wit te Agents signature be(ow @or any substitute de%art0ent or ocer as te Agent sa(( s%ecify for tis %ur%ose!
@c
A(( notices fro0 or to an ,b(igor sa(( be sent troug te Agent!
"
6 1& 6
@d
Any co00unication or docu0ent 0ade or de(i8ered to te 5orrower in accordance wit tis C(ause wi(( be dee0ed to a8e been 0ade or de(i8ered to te Guarantor!
'3!+ %lectronic communication @a
@b
Any co00u nication to be 0ade between te Agent and a Lender under or in connection wit te Finance #ocu0ents 0ay be 0ade by e(ectronic 0ai( or oter e(ectronic 0eansD if te Agent and te re(e8ant Lender? @i
agree tatD un(ess and unti( noti$ed to te contraryD tis is to be an acce%ted for0 of co00unication
@ii
notify eac oter in writing of teir e(ectronic 0ai( addre ss andHor any oter infor0ation reuired to enab(e te sending and recei%t of infor0ation by tat 0eans and
@iii
notify eac oter of any cange to teir address or any oter suc infor0ation su%%(ied by te0!
Any e(ectronic co00unication 0ade between te Agent and a Lender wi(( be e:ecti8e on(y wen actua((y recei8ed in readab(e for0 and in te case of any e(ectronic co00unication 0ade by a Lender to te Agent on(y if it is addressed in suc a 0anner as te Agent sa(( s%ecify for tis %ur%ose!
'3!. %nglish language @a
Any notice gi8en under or in connection wit any Finance #ocu0ent 0ust be in Eng(is!
@b
A(( oter docu0ents %ro8ided under or in connection wit any Finance #ocu0ent 0ust be? @i
in Eng(is or
@ii
if not in Eng(isD and if so reuired by te AgentD acco0%anied by a certi$ed Eng(is trans(ation andD in tis caseD te Eng(is trans(ation wi(( %re8ai( un(ess te docu0ent is a constitutiona(D statutory or oter ocia( docu0ent!
6. "AL"'LAT*#$& A$4 "% /T**"AT%& )&!" Accounts
In any (itigation or arbitration %roceedings arising out of or in connection wit a Finance #ocu0entD te entries 0ade in te accounts 0aintained by a Finance *arty are #rima %acie e8idence of te 0atters to wic tey re(ate!
"
6 1& 6
)&!' "ertifcates and 4eterminations
Any certi $cation or deter0ination by a Finance *arty of a rate or a0ount under any Finance #ocu0ent isD in te absence of 0anifest errorD conc(usi8e e8idence of te 0atters to wic it re(ates! )&!) 4ay count conention
Any interestD co00ission or fee accruing under a Finance #ocu0ent wi(( accrue fro0 day to day and is ca(cu(ated on te basis of te actua( nu0ber of days e(a%sed and a year of [)/&H)/.] days orD in any case were te %ractice in te Re(e8ant Interban7 Mar7et di:ersD in accordance wit tat 0ar7et %ractice! ).
PA/T*AL *$BAL*4*T>
IfD at any ti0eD any %ro8ision of te Finance #ocu0ents is or beco0es i((ega(D in8a(id or unenforceab(e in any res%ect under any (aw of any JurisdictionD neiter te (ega(ityD 8a(idity or enforceabi(ity of te re0aining %ro8isions nor te (ega(ityD 8a(idity or enforceabi(ity of suc %ro8ision under te (aw of any oter Jurisdiction wi(( in any way be a:ected or i0%aired! +.
/%M%4*%& A$4 DA*B%/&
No fai(ure to e4erciseD nor any de(ay in e4ercisingD on te %art of any Finance *artyD any rigt or re0edy under te Finance #ocu0ents sa(( o%erate as a wai8erD nor sa(( any sing(e or %artia( e4ercise of any rigt or re0edy %re8ent any furter or oter e4ercise or te e4ercise of any oter rigt or re0e dy! Te rigts and re0 edies %ro8ided in tis Agree0ent are cu0u(ati8e and not e4c(usi8e of any rigts or re0edies %ro8ided by (aw! .
AM%$4M%$T& A$4 DA*B%/&
))!" /e=uired consents @a
9ubJect to C(ause ))!' @E/ce#tions any ter0 of te Finance #ocu0ents 0ay be a0ended or wai8ed on(y wit te consent of te MaJority Lenders and te ,b(igors and any suc a0end0ent or wai8er wi(( be binding on a(( *arties!
@b
Te Agent 0ay e:ectD on bea(f of any Finance *artyD any a0end0ent or wai8er %er0itted by tis C(ause ))!
))!' %xceptions @a
"
An a0end0ent or wai8er tat as te e:ect of canging or wic re(ates to? @i
te de$nition of BMaJority LendersB in C(ause "!" @'e$nitions
@ii
an e4tension to te date of %ay0ent of any a0ount under te Finance #ocu0ents
6 1& 6
@iii
a reduction in te Margin or a reduction in te a0ount of any %ay0ent of %rinci%a(D interestD fees or co00ission %ayab(e
@i8
an increase in or an e4tension of any Co00it0ent
@8
a cange to te 5orrower or Guarantor
@8i
any %ro8ision wic e4%ress(y reuires te consent of a(( te Lenders
@8ii
C(ause '!' @Lenders. rihts and ob!iations D C(ause @"hanes to the Lenders or tis C(ause )) or
@8iii
[
')
]D
sa(( not be 0ade witout te %rior consent of a(( te Lenders! @b
An a0end0ent or wai8er wic re(ates to te rigts or ob(igations of te Agent or te Arranger 0ay not be e:ected witout te consent of te Agent or te Arranger!
.
"#'$T%/PA/T&
Eac Finance #ocu0ent 0ay be e4ecuted in any nu0ber of counter%artsD and tis as te sa0e e:ect as if te signatures on te counter%arts were on a sing(e co%y of te Finance #ocu0ent!
"
6 1& 6
&%"T*#$ )+ (#B%/$*$( LAD A$4 %$#/"%M%$T 0.
(#B%/$*$( LAD
Tis Agree0ent is go8erned by Eng(is (aw! 1.
%$#/"%M%$T
)/!" Iurisdiction o %nglish courts @a
Te courts of Eng(and a8e e4c(usi8e Jurisdiction to sett(e any dis%ute arising out of or in connection wit tis Agree0ent @inc(uding a dis%ute regarding te e4istenceD 8a(idity or ter0ination of tis Agree0ent @a B4isputeB!
@b
Te *arties agree tat te courts of Eng(and are te 0ost a%%ro%riate and con8enient courts to sett(e #is%utes and according(y no *arty wi(( argue to te contrary!
@c
Tis C(ause )/!" is for te bene$t of te Finance *arties on(y! As a resu(tD no Finance *arty sa(( be %re8ented fro0 ta7ing %roceedings re(ating to a #is%ute in any oter cour ts wit Juris diction! To te e4tent a((owed by (awD te Finance *arties 0ay ta7e concurrent %roceedings in any nu0ber of Jurisdictions!
)/!' &erice o process
;itout %reJudice to any oter 0ode of ser8ice a((owed under any re(e8ant (awD eac ,b(igor @oter tan an ,b(igor incor%orated in Eng(and and ;a(es? @a
irre8ocab(y a%%oints [te 5orrower]H[ ] as its agent for ser8ice of %rocess in re(ation to any %roceedings before te Eng(is courts in connection wit any Finance #ocu0ent and
@b
agrees tat fai(ure by a %rocess agent to notify te re(e8ant ,b(igor of te %rocess wi(( not in8a(idate te %roceedings concerned!
[Eac [ C(ause )/!]
] e4%ress(y agrees and consents to te %ro8isions of tis
This Agreement has been entered into on the date stated at the beginning o this Agreement.
"
6 1& 6
&"7%4'L% ) T7% #/*(*$AL L%$4%/&
Na0e of ,rigina( Lender
"
Co00it0ent
6 1& 6
&"7%4'L% + "#$4*T*#$&P/%"%4%$T "!
#bligors
@a
A co%y of te constitutiona( docu0ents of eac ,b(igor!
@b
A co%y of a reso(ution of te board of directors of eac ,b(igor? @i
a%%ro8ing te ter0s ofD and te transactions conte0%(ated byD te Finance #ocu0ents to wic it is a %arty and reso(8ing tat it e4ecute te Finance #ocu0ents to wic it is a %arty
@ii
autorising a s%eci$ed %erson or %ersons to e4ecute te Finance #ocu0ents to wic it is a %arty on its bea(f[ and] H []
@iii
autorising a s%eci$ed %erson or %ersonsD on its bea(fD to sign andHor des%atc a(( docu0ents and notices @inc(udingD if re(e8antD any -ti(isation Reuest and 9e(ection Notice to be signed andHor des%atced by it under or in connection wit te Finance #ocu0ents to wic it is a %arty[!] H [and]
@i8
[in te case of te GuarantorD reso(8ing tat it is in te best interests of te Guarantor to enter into te transactions conte0%(ated by te Finance #ocu0ents to wic it is a %artyD gi8ing reasons!]
@c
A s%eci0en of te signature of eac %erson autorised by te reso(ution referred to in %aragra% @b abo8e!
[@a
A co%y of a reso(ution signed by a(( te o(ders of te issued sares in te GuarantorD a%%ro8ing te ter0s ofD and te transactions conte0%(ated byD te Finance #ocu0ents to wic te Guarantor is a %arty!]
@d
A certi$cate fro0 eac ,b(igor @signed by a director con$r0ing tat borrowing or guaranteeingD as a%%ro%riateD te Tota( Co00it0ents wou(d not cause any borrowingD guaranteeing or si0i(ar (i0it binding on it to be e4ceeded!
@e
A certi$cate of an autorised signatory of te re(e8ant ,b(igor certifying tat eac co%y docu0ent re(ating to it s%eci$ed in tis 9cedu(e ' is correctD co0%(ete and in fu(( force and e:ect as at a date no ear(ier tan te date of tis Agree0ent!
"
6 1& 6
'!
Legal opinions
@a
A (ega( o%inion in re(ation to Eng(is (aw fro0 [insert na0e of (aw $r0] addressed to te ArrangerD te Agent and te [,rigina( Lenders] "' [D substantia((y in te for0 distributed to te ,rigina( Lenders %rior to signing tis Agree0ent]!
@b
A (ega( o%inion as to [insert (aw of Jurisdiction of incor%oration of ,b(igorD if oter tan Eng(and and ;a(es] fro0 [insert na0e of (aw $r0] addressed to te ArrangerD te Agent and te [,rigina( Lenders] ") [D substantia((y in te for0 distributed to te ,rigina( Lenders %rior to signing tis Agree0ent]!"+
)!
#ther documents and eidence
@a
E8idence tat any %rocess agent referred to in C(ause )/!' @Ser&ice o% #rocessD as acce%ted its a%%oint0ent!
@b
A co%y of any oter Autorisation or oter docu0entD o%inion or assurance wic te Agent considers to be necessary or desirab(e @if it as noti$ed te 5orrower according(y in connection wit te entry into and %erfor0ance of te transactions conte0%(ated by any Finance #ocu0ent or for te 8a(idity and enforceabi(ity of any Finance #ocu0ent!
@c
Te ,rigina( Financia( 9tate0ents of eac ,b(igor!
@d
[E8idence tat te feesD costs and e4%enses ten due fro0 te 5orrower %ursuant to C(ause "" @Fees and C(ause ". @"osts and e/#enses a8e been %aid or wi(( be %aid by te $rst -ti(isation #ate!]
"'
Consider weter te (ega( o%inion sou(d e4ten d to (enders acceding to tis faci(ity agree0ent as %art of a %ri0ary syndication wic fo((ows signing of te faci(ity agree0ent!
")
Consider weter te (ega( o%inion sou(d e4ten d to (enders acceding to tis faci(ity agree0ent as %art of a %ri0ary syndication wic fo((ows signing of te faci(ity agree0ent!
"+
"
#u%(icate %aragra% @b for eac Jurisdiction were an ,b(igor is incor%orated!
6 1& 6
&"7%4'L% /%<'%&T& Part * 'tilisation /e=uest
Fro0? [Borro2er] To?
[Aent]
#ated? #ear 9irs
8orro!erJ K dated
J acility Agreement
J the Hacility AgreementH
"!
;e refer to te Faci(ity Agree0ent! Tis is a -ti(isation Reuest! Ter0s de$ned in te Faci(ity Agree0ent sa(( a8e te sa0e 0eaning in tis -ti(isation Reuest!
'!
;e wis to borrow a Loan on te fo((owing ter0s? *ro%osed -ti(isation #ate? A0ount? FirstInterest*eriod?
[ ] @orD if tat is not a 5usiness #ayD te ne4t 5usiness #ay [
[
]orDif(essDteA8ai(ab(eFaci(ity ]
)!
;e con$r0 tat eac condition s%eci$ed in C(ause +!' @Further conditions #recedent is satis$ed on te date of tis -ti(isation Reuest!
+!
Te %roceeds of tis Loan sou(d be credited to [account]!
.!
Tis -ti(isation Reuest is irre8ocab(e! Yours faitfu((y
QQQQQQQQQQQQQ autorised signatory for [name o% Borro2er]
"
6 1& 6
Part ** &election $otice
Fro0? [Borro2er] To?
[Aent]
#ated? #ear 9irs
8orro!erJ - J acility Agreement dated J the Hacility AgreementH "!
;e refer to te Faci(ity Agree0ent! Tis is a 9e(ection Notice! Ter0s de$ned in te Faci(ity Agree0ent sa(( a8e te sa0e 0eaning in tis 9e(ection Notice!
'!
;e refer to te fo((owing Loan[s] wit an Interest *eriod ending on [ ]!
)!
[;e reuest tat te abo8e Loan[s] be di8ided into [ wit te fo((owing a0ounts and Interest *eriods?]
] Loans
or [;e reuest tat te ne4t Interest *eriod for te abo8e Loan[s] is [ ]]! +!
Tis 9e(ection Notice is irre8ocab(e!
Yours faitfu((y
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! autorised signatory for [name o% Borro2er]
Insert detai(s of a(( Loans wic a8e an Interest *eriod ending on te sa0e date!
-se tis o%tion if di8ision of Loans is reuested!
-se tis o%tion if sub6di8ision is not reuired!
"
6 1& 6
&"7%4'L% #/M # T/A$&%/ "%/T**"AT%
To?
[
] as Agent
Fro0? [The E/istin Lender] @te B%xisting LenderB and [The Ne2 Lender] @te B$e! LenderB #ated?
8orro!erJ K J acility Agreement dated J the Hacility AgreementH "!
;e refer to te Faci(ity Agree0ent! Tis is a Transfer Certi$cate! Ter0s used in te Faci(ity Agree0ent sa(( a8e te sa0e 0eaning in tis Transfer Certi$cate!
'!
;e refer to C(ause ')!. @(rocedure %or trans%er? @a
Te E4isting Lender and te New Lender agree to te E4isting Lender transferring to te New Lender by no8ation a(( or %art of te E4isting Lenders Co00it0entD rigts and ob(igations referred to in te 9cedu(e in accordance wit C(ause ')!. @(rocedure %or trans%er !
@b
Te %ro%osed Transfer #ate is [
@c
Te Faci(ity ,ce and addressD fa4 nu0ber and attention detai(s for notices of te New Lender for te %ur%oses of C(ause '3!' @Addresses are set out in te 9cedu(e!
]!
)!
Te New Lender e4%ress(y ac7now(edges te (i0itations on te E4isting Lenders ob(igations set out in %aragra%s @a and @c of C(ause ')!+ @Limitation o% res#onsibi!ity o% E/istin Lenders!
+!
Te New Lender con$r0s tat it is a BNew LenderB witin te 0eaning of C(ause ')!" @Assinments and trans%ers by the Lenders!
.!
Tis Transfer Certi$cate 0ay be e4ecuted in any nu0ber of counter%arts and tis as te sa0e e:ect as if te signatures on te counter%arts were on a sing(e co%y of tis Transfer Certi$cate!
/!
"
Tis Transfer Certi$cate is go8erned by Eng(is (aw!
6 1& 6
T7% &"7%4'L% "ommitmentNrights and obligations to be transerred
Transer 4etailsG Nature? [insert descri#tion o% %aci!ity)ies* trans%erred] Fina( Maturity? [ ] Participation Transferred Co00it0ent Transferred #rawnA0ount? [ ] -ndrawnA0ount? [ ]
Administration 4etails? New Lenders Recei8ing Account? Address? Te(e%one? Facsi0i(e? AttnHRef?
[E4istingLender]
5y?
[ [ [ [ [
] ] ] ] ]
[NewLender]
5y?
Tis Transfer Certi$cate is acce%ted by te Agent and te Transfer #ate is con$r0ed as [ ]! [Agent] 5y?
"
6 1& 6
&"7%4'L% 0 #/M # "#MPL*A$"%"%/T**"AT%
To?
[
] as Agent
Fro0? [Borro2er] #ated? #ear 9irs
8orro!erJ K J acility Agreement dated J the Hacility AgreementH "!
;e refer to te Faci(ity Agree0ent! Tis is a Co0%(iance Certi$ cate! Ter0s used in te Faci(ity Agree0ent sa(( a8e te sa0e 0eaning in tis Co0%(iance Certi$cate!
'!
;e con$r0 tat? [Insert detai(s of co8enants to be certi$ed inc(uding ca(cu(ations]
)!
[;e con$r0 tat no #efau(t is continuing!]
9igned?
Q!!!!!!!!!!!! #irector of [Borro2er]
Q!!!!!!!!!!!! #irector of [Borro2er]
[insert a##!icab!e certi$cation !anuae]
Q!!!!!!!!!!!!!!!!!! for and on bea(f of [name o% auditors o% the Borro2er ]
If tis state0ent cannot be 0adeD te certi$cate sou(d identify any #efau(t tat is continuing and te ste%sD if anyD being ta7en to re0edy it!
"
To be agreed wit te 5or rowers auditors and te Lende rs %rior to signing te Agree0ent! ,n(y a%%(icab(e if te Co0%(iance Certi$cate acco0%anies te audited $nancia( state0ents and is to be signed by te auditors! To be agreed wit te 5orro wers auditors %rior to signing te Agree0ent!
6 1& 6
&"7%4'L% 1 %C*&T*$( &%"'/*T>
Na0eof,b(igor
"
9ecurity
Tota(*rinci%a(A0ount of Indebtedness 9ecured
6 1& 6
&"7%4'L% 2 T*M%TA8L%&)0
#e(i8ery of a du(y co0%(eted -ti(isation Reuest @C(ause .!" @'e!i&ery o% a Uti!isation Re-uest or a 9e(ection Notice @C(ause 3!" @Se!ection o% Interest (eriods Agent noti$es te Lenders of te Loan in accordance wit C(ause .!+ @Lenders. #artici#ation [LI5,R]H[E-RI5,R] is $4ed
[=uotation #ay as of ""?&& a!0! London ti0e]"/H [=uotation #ay as of ""!&& a!0! 5russe(s ti0e]"1
".
Coose te ti0etab(e a%%(icab(e for te currency of te Loan!
"/
Insert if te interest ratefor te Loan is deter0ined by reference to LI5,R!
"1
Insert if te interest ratefor te Loan is deter0ined by reference to E-RI5,R!
"
6 1& 6
&*($AT'/% PA(% 4o not sho! addresses or contact details o LendersJ
"
6 1& 6
