Common use of DEBT PROCESSING AND COLLECTION Clause in Contracts

DEBT PROCESSING AND COLLECTION. 11.1. The BENEFICIARY shall amortize or settle the debt currently assumed through debit(s) against the current accounts it maintains with each of the FINANCIAL AGENTS, to the extent that the proportions mentioned in subsection 7.3 above are respected. 11.2. The amortization mentioned in subsection 11.1 above, may be carried out through a cashier’s check, a payment slip (ficha de compensação) or an electronic bank transfer (DOC), provided it is previously authorized by the FINANCIAL AGENTS. 11.3. As from now, the FINANCIAL AGENTS are irrevocably and irreversibly authorized by the BENEFICIARY, on the due dates of the obligations, to debit against the latter’s current accounts, all amounts due as a result of this Agreement, and the settlement of said amounts shall be subject to the effective availability of funds in the current accounts in which the respective debits will take place. The insufficiency of funds in the current accounts shall constitute a payment default. 11.4. The BENEFICIARY shall check the balance in the “Future Entries” current account, which shall include the charging of the principal and charges, five (5) days prior to the maturity, through which it shall inform the amount required for the settlement of the obligations on the maturity dates. 11.5. At the discretion of each FINANCIAL AGENT, the charging of the principal and charges shall be carried out through a Collection Notice, five (5) days prior to the maturity, through which it shall inform the amount required for the settlement of the charges on the maturity dates. 11.6. Failure to receive the Collection Notice shall not exempt the BENEFICIARY from the obligation of paying the installments of the principal and charges on the dates currently established. 11.7. Since the debt related to Sub-credit B is subject to the daily adjustment pursuant to section 4, the Collection Notice referred to in subsection 11.5 shall be issued by the FINANCIAL AGENTS with the indication of a referential amount in the BNDES’ Monetary Unit (UMBND), the value of which shall be obtained with the Financial Management Department of the International and Financial Area (DEFIN/AF) of the BNDES, and the amount of payment, due in legal tender, shall be calculated based on the respective price on the day of the effective payment.

DEBT PROCESSING AND COLLECTION. 11.1. The BENEFICIARY shall amortize or settle the debt currently assumed through debit(s) against the current accounts it maintains with each of the FINANCIAL AGENTS, to the extent that the proportions mentioned in subsection 7.3 above are respected. 11.2. The amortization mentioned in subsection 11.1 subsection11.1 above, may be carried out through a cashier’s check, a payment slip (ficha de compensação) or an electronic bank transfer (DOC), provided it is previously authorized by the FINANCIAL AGENTS. 11.3. As from now, the FINANCIAL AGENTS are irrevocably and irreversibly authorized by the BENEFICIARY, on the due dates of the obligations, to debit against the latter’s current accounts, all amounts due as a result of this Agreement, and the settlement of said amounts shall be subject to the effective availability of funds in the current accounts in which the respective debits will take place. The insufficiency of funds in the current accounts shall constitute a payment default. 11.4. The BENEFICIARY shall check the balance in the “Future Entries” current account, which shall include the charging of the principal and charges, five (5) days prior to the maturity, through which it shall inform the amount required for the settlement of the obligations on the maturity dates. 11.5. At the discretion of each FINANCIAL AGENT, the charging of the principal and charges shall be carried out through a Collection Notice, five (5) days prior to the maturity, through which it shall inform the amount required for the settlement of the charges on the maturity dates. 11.6. Failure to receive the Collection Notice shall not exempt the BENEFICIARY from the obligation of paying the installments of the principal and charges on the dates currently established. 11.7. Since the debt related to Sub-credit B is subject to the daily adjustment pursuant to section 4, the Collection Notice referred to in subsection 11.5 shall be issued by the FINANCIAL AGENTS with the indication of a referential amount in the BNDES’ Monetary Unit (UMBND), the value of which shall be obtained with the Financial Management Department of the International and Financial Area (DEFIN/AF) of the BNDES, and the amount of payment, due in legal tender, shall be calculated based on the respective price on the day of the effective payment.