Common use of Financing Plan Clause in Contracts

Financing Plan. XXXXX’s financing plan is summarized below. IREDA’s Tentative Financing Plan (FY2014 - FY2024) Financing Source Amount ($ million) Share of Total (%) Asian Development Bank 500 7.6 Other foreign borrowing a 1,581 24.1 local borrowing b 1,600 24.4 IREDA net repayments 1,855 28.3 IREDA internal accruals & government equity contributions c 1,021 15.6 Total 6,557 100.0 IREDA = Indian Renewable Energy Development Agency Limited. a Includes bilateral and multilateral sources in the forms of credit lines. b IREDA raises domestic bonds and term loans. c This includes an estimated $411 million in government equity contributions if required. Sources: Asian Development Bank and Indian Renewable Energy Development Agency Limited estimates. Financing Terms ADB will provide loans to finance subprojects under the Investment Program, as and when the latter are ready for financing, provided, IREDA is in compliance with the understandings hereunder, and the subprojects are in line with those same understandings. Each loan will constitute a tranche. Each tranche may be financed under terms different from the financing terms of previous or subsequent tranches. The choice of financing terms will depend on the project, capital market conditions, and ADB’s financing policies, all prevailing on the date of signing the legal agreement for such tranche. Tranches may be provided in sequence or simultaneously, and some may overlap in time with each other. Commitment charges or guarantee fees are not payable on the Facility. They are payable only on financing actually committed by ADB as a loan or guarantee. ADB rules on commitment charges and guarantee fees, which are in effect when the legal agreements are signed for a tranche, will apply with respect to such tranche. Amount The maximum ADB financing amount available under the Facility is $500 million. It will be provided in individual tranches from ADB’s ordinary capital resources in amounts not less than $100 million. Availability Period The last date on which any disbursement under any tranche may be made will be 15 October 2024. The last financing tranche is expected to be executed no later than 15 October 2022.

Financing Plan. XXXXX’s financing plan The Financing Plan for the Investment Program is summarized below. IREDA’s Tentative Indicative Financing Plan (FY2014 - FY2024) Financing Source Amount ($ million) Share of Source Total (%) % Asian Development Bank 500 7.6 Other foreign borrowing a 1,581 24.1 local borrowing b 1,600 24.4 IREDA net repayments 1,855 28.3 IREDA internal accruals & government equity contributions c 1,021 15.6 Total 6,557 100.0 IREDA = Indian Renewable Energy Development Agency Limited. a Includes bilateral 500.0 65.6% Government of India and multilateral sources in the forms State Government of credit lines. b IREDA raises domestic bonds and term loans. c This includes an estimated $411 million in government equity contributions if required. Sources: Asian Development Bank and Indian Renewable Energy Development Agency Limited estimates. Manipur 261.6 34.4% 761.6 100.0% Financing Terms ADB will provide loans to finance subprojects projects under the Investment Program, as and when the latter they are ready for financing, provided, IREDA provided India is in compliance with the understandings hereunder, and the subprojects projects are in line with those same understandingsunderstandings and a related request is made under a PFR. Each loan will constitute a tranche. Any amount under the individual tranche that is cancelled will replenish the Facility by an equivalent amount and will be available for subsequent tranches. Each tranche may be financed under terms different from the financing terms of previous or subsequent tranches. The choice of financing terms will depend on the project, capital market conditions, and ADB’s financing policies, all prevailing on the date of signing the legal 3 agreement for such tranche. Tranches may be provided in sequence or simultaneously, and some may overlap in time with each other. Commitment charges or guarantee fees are not payable on the Facility. They These are payable only on financing actually committed by ADB as a loan or guaranteeloan. ADB rules on commitment charges and guarantee feescharges, which are in effect when the legal agreements are signed for a tranche, will apply with respect to such tranche. Amount The maximum ADB financing amount available under the Facility is five hundred million dollars ($500 million500,000,000). It will be provided in individual tranches from ADB’s ordinary capital resources in amounts not less than $100 million. resources.1 Availability Period The last date on which any disbursement under any tranche may be made will be 15 October 202430 June 2022. The last financing tranche is expected to be executed no later than 15 October 2022.31 December 2019. Terms and Conditions India will cause the proceeds of each tranche to be applied to the financing of expenditures of the Investment Program, in accordance with conditions set forth in this FFA and the legal agreements for each tranche. Execution and Implementation The Executing Agency for the national highways subprojects will be MoRTH. The Executing Agency for state roads subprojects in the State of Manipur and MPWD capacity development will be the State of Manipur acting through MPWD. The executing agencies will carry out the Investment Program in accordance with the principles set forth in Schedule 1 to this FFA, and as supplemented in the legal agreements for each tranche. MoRTH will set up a Project Implementation Unit (PIU) in Manipur and West Bengal to implement national highway subprojects. For national highway subprojects in West Bengal, the West Bengal Public Works Department was designated as PIU/Implementing Agency. For national highway subprojects in Manipur, MoRTH will be PIU supported by the Manipur Public Works Department. PIUs will be headed by the Project Director, and will be staffed with qualified officials in the field of road engineering, procurement and contract management, environmental management, resettlement, and accounting. Periodic Financing Request India may request, and ADB may agree, to provide loans under the Facility to finance projects under the Investment Program upon the 1 The Ordinary Operations Loan Regulations applicable to LIBOR-based Loans made from ADB’s Ordinary Capital Resources dated 1 July 2001 or as thereafter amended (the “OCR Loan Regulations”) will apply to each loan under the Facility, subject to modifications, if any, that may be included under any loan agreement. 4 submission of PFRs. Each PFR should be submitted by India. ADB will review the PFR, and if found satisfactory will prepare the related legal agreements. India will make available to MoRTH (for the national highways subprojects) and the State of Manipur (for state roads subprojects in the State of Manipur) the proceeds of the loan in accordance with the related PFR and the legal agreements for each tranche. Each individual tranche will be for an amount of no less than fifty million dollars ($50,000,000), or equivalent. The projects for which financing is requested under the PFR will be subject to the criteria set out in Schedule 4 to this FFA, satisfactory due diligence, preparation of relevant safeguards and fiduciary frameworks and other documents, including performance assessment of previous loans and incorporation of lessons into the requested loan. Until notice is otherwise given by India, each of the Secretary, Additional Secretary, Joint Secretary, Director, or Deputy Secretary in the Department of Economic Affairs of the Ministry of Finance of the Government of India is designated as authorized representatives of India for the purpose of executing PFRs. General Implementation Framework The Facility will be implemented in accordance with the general framework set out in Schedule 3 to this FFA. Procedures Tranches to be provided under the Facility will be subject to the following procedures and undertakings: (i) India will have notified ADB of a forthcoming PFR in advance of the submission of the PFR; (ii) India will have submitted a PFR in the format agreed with ADB; (iii) ADB may in its sole discretion, for reasons provided, decline to authorize the negotiation and execution of any legal agreement for a tranche; and (iv) If ADB confirms acceptance of the PFR, the legal agreements will be negotiated and executed by the parties. PFR Information The PFR will substantially be in the standard form required by ADB , and will contain the following details: (i) Loan amount; (ii) Description of the project to be financed; (iii) Cost estimates and financing plan; (iv) Implementation arrangements specific to the projects; (v) Confirmation of the continuing validity of and adherence to the understandings in this FFA; (vi) Confirmation of compliance with the provisions under previous loan agreement(s) and project agreement(s) as appropriate; and

Financing Plan. XXXXX’s The financing plan for the Investment Program is summarized below. IREDA’s Tentative Details are set out in Schedule 1 hereto. Financing Plan (FY2014 - FY2024) Financing Source Amount (Sources $ million) Share of Total (%) Million % Domestic Financiers 1,345 44.8 Asian Development Bank 500 7.6 Other foreign borrowing a 1,581 24.1 local borrowing b 1,600 24.4 IREDA net repayments 1,855 28.3 IREDA internal accruals & government equity contributions c 1,021 15.6 620 20.7 Department for International Development 35 1.2 Private Investors 100 3.3 Internal Funds 600 20.0 Government of Madhya Pradesh 300 10.0 Total 6,557 Funding 3,000 100.0 IREDA = Indian Renewable Energy Development Agency Limited. a Includes bilateral and multilateral sources in the forms of credit lines. b IREDA raises domestic bonds and term loans. c This includes an estimated $411 million in government equity contributions if required. Sources: Asian Development Bank and Indian Renewable Energy Development Agency Limited estimates. ADB staff estimate Financing Terms ADB will provide loans to finance subprojects under the Roadmap and Investment ProgramProgram (Subprojects), as and when the latter are ready for financing, provided, IREDA ; provided INDIA is in compliance agreement with the understandings hereunder, and the subprojects Subprojects proposed for financing are in line with those same understandings. Each loan will constitute a tranche. Each tranche may be financed under terms different from the financing terms of previous or subsequent tranches. The choice of financing terms will depend on the projectSubproject, capital market conditions, and ADB’s financing policies, all policies that are prevailing on at the date of signing time the tranche is formalized in a legal agreement for such trancheagreement. Tranches may be provided in sequence or simultaneously, and some may overlap in time with each other. Each individual tranche will be for an amount of not less than $40 million (with an exception of non-physical investment component for which the minimum loan amount will be $5 million), or its equivalent. ADB will review the PFR[s] and, if found satisfactory, prepare the related legal agreements. Commitment charges or guarantee fees are not payable on the FacilityMFF. They are payable only on financing actually committed by ADB as a loan or guaranteeloan. ADB rules on commitment charges and guarantee feescharges, which are in effect when the legal agreements are signed for a tranchetranche is provided, will apply with respect to such each tranche. Amount The maximum ADB financing amount available under the Facility MFF is $500 million620 million (six hundred twenty million US dollars). It will be provided in individual tranches from ADB’s ordinary capital resources in amounts not less than $100 million. Ordinary Capital Resources.1 Availability Period The last date on which any disbursement under any tranche may be made will be 15 October 202431 December 2014. The last financing tranche is expected to be executed no not later than 15 October 202231 December 2010. Terms and Conditions INDIA will cause the proceeds of each tranche to be applied to the financing of expenditures of the Roadmap and Investment Program in accordance with conditions set forth in this FFA and the legal agreements for each tranche. Execution Madhya Pradesh Power Transmission Company Limited (TRANSCO); Madhya Pradesh Madhya Kshetra Vidyut Vitaran Company Limited (DISCOM–C); Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company Limited (DISCOM–E); and Madhya Pradesh Paschim Kshetra Vidyut Vitaran Company Limited (DISCOM–W) are the Executing Agencies for the appropriate Subprojects. The Executing Agencies will be guided by a Coordinating Committee chaired by the Managing Director of TRANSCO who has experience at major project delivery and loan disbursement. This approach will ensure the sharing of best practice within the state. Periodic Financing Requests INDIA may request, and ADB may agree, to provide loans under the MFF to finance the Roadmap and Investment Program and related Subprojects upon the submission of a Periodic Financing Request (PFR). Each PFR should be submitted by INDIA and confirmed by the State. INDIA will 1 Provisions of the Ordinary Operations Loan Regulations applicable to LIBOR-Based Loans made from ADB’s Ordinary Capital Resources, dated 1 July 2001, would apply to each tranches, subject, to modifications, if any, that may be included under any loan agreement. make available to Executing Agencies, the proceeds of the tranches in accordance with the related PFR, and the legal agreements for the tranches. Unless INDIA otherwise informs ADB in writing, the Joint Secretary/Deputy Secretary, Department of Economic Affairs of the Ministry of Finance of INDIA will be authorized to sign PFRs on behalf of INDIA. Each individual tranche will be for an amount of not less than $40 million (with an exception of non-physical investment component for which the minimum loan amount will be $5 million), or its equivalent. ADB will review the PFR[s] and, if found satisfactory, prepare the related legal agreements. Subprojects for which financing is requested under the PFR will be subject to the selection criteria set out in Schedule 4 hereto, satisfactory due diligence and preparation of relevant safeguard frameworks, fiduciary requirements, and other relevant documents. INDIA and ADB will agree on an MFF Administration Manual and a schedule to initiate these activities, as soon as possible after the date of this FFA, but prior to the effective date of the legal agreements for the first tranche. Each new financing request to be converted into a new loan will require evaluation on the performance of the previous one. ADB will conduct periodic review missions, which will include due diligence on warranties and representations made to ADB. In addition, staff will report on any issues or problems faced by the authorities and the execution agencies under the program, and the remedial actions suggested to overcome them. General Implementation Framework The MFF will be implemented in accordance with the general framework set out in Schedule 3 hereto.

Financing Plan. XXXXXIREDA’s financing plan is summarized below. IREDA’s Tentative Financing Plan (FY2014 - FY2024) Financing Source Amount ($ million) Share of Total (%) Asian Development Bank 500 7.6 Other foreign borrowing a 1,581 24.1 local borrowing b 1,600 24.4 IREDA net repayments 1,855 28.3 IREDA internal accruals & government equity contributions c 1,021 15.6 Total 6,557 100.0 IREDA = Indian Renewable Energy Development Agency Limited. a Includes bilateral and multilateral sources in the forms of credit lines. b IREDA raises domestic bonds and term loans. c This includes an estimated $411 million in government equity contributions if required. Sources: Asian Development Bank and Indian Renewable Energy Development Agency Limited estimates. Financing Terms ADB will provide loans to finance subprojects under the Investment Program, as and when the latter are ready for financing, provided, IREDA is in compliance with the understandings hereunder, and the subprojects are in line with those same understandings. Each loan will constitute a tranche. Each tranche may be financed under terms different from the financing terms of previous or subsequent tranches. The choice of financing terms will depend on the project, capital market conditions, and ADB’s financing policies, all prevailing on the date of signing the legal agreement for such tranche. Tranches may be provided in sequence or simultaneously, and some may overlap in time with each other. Commitment charges or guarantee fees are not payable on the Facility. They are payable only on financing actually committed by ADB as a loan or guarantee. ADB rules on commitment charges and guarantee fees, which are in effect when the legal agreements are signed for a tranche, will apply with respect to such tranche. Amount The maximum ADB financing amount available under the Facility is $500 million. It will be provided in individual tranches from ADB’s ordinary capital resources in amounts not less than $100 million. Availability Period The last date on which any disbursement under any tranche may be made will be 15 October 2024. The last financing tranche is expected to be executed no later than 15 October 2022.