Common use of Additional terms of the Bank Guarantee Clause in Contracts

Additional terms of the Bank Guarantee. If the Bank Guarantee is approved in any currency and the corresponding Bank Guarantee or a portion thereof is issued/paid in another currency, the official rate of exchange established by the National Bank of Georgia effective at the moment of issuance/payment shall apply. If the Bank Guarantee is approved in any currency and the corresponding Bank Guarantee or a portion thereof is issued/paid in another currency, the excess of the Guarantee Amount due to a change in the exchange rate shall not be considered a breach of this Agreement and the Customer shall duly fulfill the obligations undertaken by Other agreement associated with the Agreement. The Bank may at any time refuse to serve the Bank Guarantee determined by the Agreement or any portion thereof if the Customer’s property and/or intangible property (including the Account) is subjected to any restriction, including restriction under the public law, which endangers fulfillment of obligations undertaken by the Customer before the Bank. If at the time of charging (paying) of the Commission Fee and/or Penalty (Fine) provided by the Agreement, the Legislation (including the instructions of the National Bank of Georgia) establishes the rates of Commission Fee and/or Penalty (Fine) lower than the Commission Fee and/or Penalty (Fine) provided by the Agreement, the maximum interest rates (if any) of the Commission Fee and/or Penalty (Fine) set by the Legislation (including the instructions of the National Bank of Georgia) shall apply. The Customer shall, upon request by the Bank, be obliged to reimburse to the Bank all Commission Fees, Penalties and/or charges that may be imposed on the Bank, including due to the failure to fulfill its obligations by the Beneficiary (Ultimate Beneficiary). The Customer shall also be obliged to reimburse Commission Fees, Penalties and/or charges that are not paid by the Beneficiary (Ultimate Beneficiary) to the Bank within the prescribed term. The term of payment by the Customer under this section shall be determined according to the Bank’s request. The Customer shall notify the Bank in writing about any financial arrears arising under the Bank Guarantee, the Interest accrued on it (including as the unearned benefit), Commission Fee and Penalty, as well as any other indebtedness, 14 (fourteen) calendar days before its maturity, including before the refinancing from other financial institutions). In addition, if the amount of Guarantee amount of the Guarantee Agreement does not exceed 2,000,000 (two million) GEL or equivalent in other currencies (at the fixed rate by the National Bank of Georgia on the day of writing to the Bank), the Bank Provides to cover The above mentioned obligations on the date of receiving written appeal or if the written appeal was made during non-working hours, no later than the next banking day. In any other case, the Bank shall be entitled to cover the above mentioned obligations according to Subsection 5.2. of Annex N1 to the Bank Guarantee Agreement. In the event of termination of the Bank Guarantee in whole or in part for any reason, unless the Bank decides otherwise, the Bank shall not be obliged to notify the Customer and/or the Principal of the termination of the Bank Guarantee. Any Commission Fee, money, funds and/or consideration payable to the Bank under the Agreement or/and other Agreement associated with the Agreement are indicated net of taxes (including without limitation any tax withholding liabilities in any jurisdiction on indirect taxes). The Main Obligations of the Customer To ensure performance of the Agreement: Purpose. The Customer is obliged to comply with the purpose of the Bank Guarantee specified by the Agreement (if any).

Additional terms of the Bank Guarantee. If the Bank Guarantee is approved in any currency and the corresponding Bank Guarantee or a portion thereof is issued/paid in another currency, the official rate of exchange established by the National Bank of Georgia effective at the moment of issuance/payment shall apply. If the Bank Guarantee is approved in any currency and the corresponding Bank Guarantee or a portion thereof is issued/paid in another currency, the excess of the Guarantee Amount due to a change in the exchange rate shall not be considered a breach of this Agreement and the Customer shall duly fulfill the obligations undertaken by Other agreement associated with the Agreement. The Bank may at any time refuse to serve the Bank Guarantee determined by the Agreement or any portion thereof if the Customer’s property and/or intangible property (including the Account) is subjected to any restriction, including restriction under the public law, which endangers fulfillment of obligations undertaken by the Customer before the Bank. If at the time of charging (paying) of the Commission Fee and/or Penalty (Fine) provided by the Agreement, the Legislation (including the instructions of the National Bank of Georgia) establishes the rates of Commission Fee and/or Penalty (Fine) lower than the Commission Fee and/or Penalty (Fine) provided by the Agreement, the maximum interest rates (if any) of the Commission Fee and/or Penalty (Fine) set by the Legislation (including the instructions of the National Bank of Georgia) shall apply. The Customer shall, upon request by the Bank, be obliged to reimburse to the Bank all Commission Fees, Penalties and/or charges that may be imposed on the Bank, including due to the failure to fulfill its obligations by the Customer’s Beneficiary (Ultimate Beneficiary). The Customer shall also be obliged to reimburse Commission Fees, Penalties and/or charges that are not paid by the Customer’s Beneficiary (Ultimate Beneficiary) to the Bank within the prescribed term. The term of payment by the Customer under this section shall be determined according to the Bank’s request. The Customer shall notify the Bank in writing about any financial arrears arising under the Bank Guarantee, the Interest accrued on it (including as the unearned benefit), Commission Fee and Penalty, as well as any other indebtedness, 14 (fourteen) calendar days before its maturity, including before the refinancing from other financial institutions). In addition, if the amount of Guarantee amount of the Guarantee Agreement does not exceed 2,000,000 (two million) GEL or equivalent in other currencies (at the fixed rate by the National Bank of Georgia on the day of writing to the Bank), the Bank Provides to cover The above mentioned obligations on the date of receiving written appeal or if the written appeal was made during non-working hours, no later than the next banking day. In any other case, the Bank shall be entitled to cover the above mentioned obligations according to Subsection the 5.2. paragraph of Annex annex N1 to the Bank Guarantee Agreement. In the event of termination of the Bank Guarantee in whole or in part for any reason, unless the Bank decides otherwise, the Bank shall not be obliged to notify the Customer and/or the Principal of the termination of the Bank Guarantee. Any Commission Fee, money, funds and/or consideration payable to the Bank under the Agreement or/and other Agreement associated with the Agreement are indicated net of taxes (including without limitation any tax withholding liabilities in any jurisdiction on indirect taxes). The Main Obligations of the Customer To ensure performance of the Agreement: Purpose. The Customer is obliged to comply with the purpose of the Bank Guarantee specified by the Agreement (if any).

Additional terms of the Bank Guarantee. If the Bank Guarantee is approved in any currency and the corresponding Bank Guarantee or a portion thereof is issued/paid in another currency, the official rate of exchange established by the National Bank of Georgia effective at the moment of issuance/payment shall apply. If the Bank Guarantee is approved in any currency and the corresponding Bank Guarantee or a portion thereof is issued/paid in another currency, the excess of the Guarantee Amount due to a change in the exchange rate shall not be considered a breach of this Agreement and the Customer shall duly fulfill the obligations undertaken by Other agreement associated with the Agreement. The Bank may at any time refuse to serve the Bank Guarantee determined by the Agreement or any portion thereof if the Customer’s property and/or intangible property (including the Account) is subjected to any restriction, including restriction under the public law, which endangers fulfillment of obligations undertaken by the Customer before the Bank. If at the time of charging (paying) of the Commission Fee and/or Penalty (Fine) provided by the Agreement, the Legislation (including the instructions of the National Bank of Georgia) establishes the rates of Commission Fee and/or Penalty (Fine) lower than the Commission Fee and/or Penalty (Fine) provided by the Agreement, the maximum interest rates (if any) of the Commission Fee and/or Penalty (Fine) set by the Legislation (including the instructions of the National Bank of Georgia) shall apply. The Customer shall, upon request by the Bank, be obliged to reimburse to the Bank all Commission Fees, Penalties and/or charges that may be imposed on the Bank, including due to the failure to fulfill its obligations by the Customer’s Beneficiary (Ultimate Beneficiary). The Customer shall also be obliged to reimburse Commission Fees, Penalties and/or charges that are not paid by the Customer’s Beneficiary (Ultimate Beneficiary) to the Bank within the prescribed term. The term of payment by the Customer under this section shall be determined according to the Bank’s request. The Customer shall notify the Bank in writing about any financial arrears arising under the Bank Guarantee, the Interest accrued on it (including as the unearned benefit), Commission Fee and Penalty, as well as any other indebtedness, 14 (fourteen) calendar days before its maturity, including before the refinancing from other financial institutions). In addition, if the amount of Guarantee amount of the Guarantee Agreement does not exceed 2,000,000 (two million) GEL or equivalent in other currencies (at the fixed rate by the National Bank of Georgia on the day of writing to the Bank), the Bank Provides to cover The above mentioned obligations on the date of receiving written appeal or if the written appeal was made during non-working hours, no later than the next banking day. In any other case, the Bank shall be entitled to cover the above mentioned obligations according to Subsection the 5.2. paragraph of Annex annex N1 to the Bank Guarantee Agreement. In the event of termination of the Bank Guarantee in whole or in part for any reason, unless the Bank decides otherwise, the Bank shall not be obliged to notify the Customer and/or the Principal of the termination of the Bank Guarantee. Any Commission Fee, money, funds and/or consideration payable to the Bank under the Agreement or/and other Agreement associated with the Agreement are indicated net of taxes (including without limitation any tax withholding liabilities in any jurisdiction on indirect taxes). The Main Obligations of the Customer To ensure performance of the Agreement: Purpose. The Customer is obliged to comply with the purpose of the Bank Guarantee specified by the Agreement (if any).