Common use of Obligation of the Underwriters for Purposes of Uruguayan Law Clause in Contracts

Obligation of the Underwriters for Purposes of Uruguayan Law. In order to give effect to Section 16(a) hereof under the laws of the Republic, the Underwriters, the Republic and Banco Central hereby acknowledge that the primary obligation arising under this Agreement is the obligation on the part of the Underwriters to disburse the Purchase Price, subject to the adjustments referred to in Section 9(c), to or for the account of the Republic on the Closing Date against delivery of the Securities, subject to the terms and conditions set forth herein. If the foregoing is in accordance with your understanding of our agreement, please sign and return to the Republic and Banco Central a counterpart hereof, whereupon this instrument will become a binding agreement among the Republic, Banco Central, as financial agent for the Republic, and the Underwriters. Very truly yours, REPUBLICA ORIENTAL DEL URUGUAY By: Name: Title: By: Name: Title: 10 XXXXX XXXXXXX XXX XXXXXXX By: Name: Title: By: Name: Title: Accepted, on behalf of themselves, and as Representatives of the Underwriters whose names are set forth on Schedule II hereto: [ ] [ ] for themselves and as Representatives for the other several Underwriters By: Name: Title: By: Name: Title: SCHEDULE I Underwriting Agreement dated: Indenture: Indenture dated as of [ ], [ ] between República Oriental del Uruguay, as Issuer, Banco Central del Uruguay, as Financial Agent and [ ], as trustee Representative(s) and address(es): Title and description of Securities: Title: Aggregate principal amount: Interest payable from: Interest payment dates: Maturity date: Redemption provisions: Currency of payment: Form(s) and denomination(s): Other provisions: Purchase price to Underwriters: Initial public offering price: Manner of payment: [Wire transfer of immediately available funds] Closing Date, time and location: [Listing: [ ] Stock Exchange] SCHEDULE II Underwriter Securities SCHEDULE III Selling Restrictions

Obligation of the Underwriters for Purposes of Uruguayan Law. In order to give effect to Section 16(a17(a) hereof under the laws of the Republic, the Underwriters, Underwriters and the Republic and Banco Central hereby acknowledge that the primary obligation arising under this Agreement is the obligation on the part of the Underwriters to disburse the Purchase Price, subject to the adjustments referred to in Section 9(c)) hereof, to or for the account of the Republic on the Closing Date against delivery of the Securities, subject to the terms and conditions set forth herein. If the foregoing is in accordance with your understanding of our agreement, please sign and return to the Republic and Banco Central a counterpart hereof, whereupon this instrument will become a binding agreement among the Republic, Banco Central, as financial agent for the Republic, Republic and the Underwriters. Very truly yours, REPUBLICA REPÚBLICA ORIENTAL DEL URUGUAY By: /s/ Mxxxx Xxxxxxx Name: Mxxxx Xxxxxxx Title: Vice Minister of Economy and Finance By: /s/ Cxxxxx Xxxxxxx Name: Cxxxxx Xxxxxxx Title: 10 XXXXX XXXXXXX XXX XXXXXXX Director, Debt Management Office The foregoing Agreement is hereby confirmed and accepted as of the date hereof CITIGROUP GLOBAL MARKETS INC. By: /s/ Cxxxx Xxxxxxx Name: Cxxxx Xxxxxxx Title: Managing Director DEUTSCHE BANK SECURITIES INC. By: /s/ Mxxxxxxx Xxxxxx Name: Mxxxxxxx Xxxxxx Title: Accepted, on behalf of themselves, and as Representatives of the Underwriters whose names are set forth on Schedule II hereto: [ ] [ ] for themselves and as Representatives for the other several Underwriters Managing Director By: /s/ Dxxxxxx Xxxx Name: Dxxxxxx Xxxx Title: By: Name: Title: Director SCHEDULE I Underwriting Agreement dated: September 7, 2006 Indenture: Indenture dated as of [ ]May 29, [ ] between 2003 among República Oriental del Uruguay, as Issuer, Banco Central del Uruguay, as Financial Agent Agent, and [ ]The Bank of New York, as trustee Representative(strustee. The Underwriters and their addresses: Citigroup Global Markets Inc. 300 Xxxxxxxxx Xxxxxx Xxx Xxxx, XX 00000 XXX Attention: General Counsel Fax: (000) and address(es): 000-0000 Deutsche Bank Securities Inc. 60 Xxxx Xxxxxx, 0xx Xxxxx Xxx Xxxx, XX 00000 XXX Attention: Latin America Debt Capital Markets Fax: (000) 000-0000 Title and description of Securities: Title: Aggregate 5.00% UI Bonds due 2000 Xxxxxxxxx principal amount: Ps. 9,560,000,000 Interest payable from: September 14, 2006 Interest payment dates: March 14 and September 14 of each year, beginning March 14, 2007, with a final interest payment on the maturity date Maturity date: Redemption provisionsSeptember 14, 2018 Payment of Principal: Amounts due in respect of principal will be paid in full at maturity. The redemption amount (or early redemption amount) will be equal to the outstanding principal amount of the Securities as adjusted to reflect Uruguayan inflation from the Closing Date through the maturity date or the date of such early redemption, as applicable. For this purpose, the Calculation Agent will multiply the outstanding principal amount of the Securities in Uruguayan pesos by a fraction the numerator of which is the value of one UI in Uruguayan pesos as of the applicable maturity or redemption date and the denominator of which is Ps. 1.5817, the value of one UI expressed in Uruguayan pesos as of the Closing Date. Payment of Interest Amounts due in respect of interest will be paid semi-annually in arrears. Each of the interest payments will be payable at an annual rate of 5.00% on the outstanding principal amount of the Securities as adjusted to reflect Uruguayan inflation from the Closing Date through the relevant interest payment date. For this purpose, The Bank of New York, as the Calculation Agent, will multiply the outstanding principal amount of the Securities in Uruguayan pesos by a fraction the numerator of which is the value of one UI expressed in Uruguayan pesos as of the relevant interest payment date and the denominator of which is Ps. 1.5817, the value of one UI expressed in Uruguayan pesos on the Closing Date. Interest on the Securities will be calculated on the basis of a 360-day year of twelve 30-day months. Conversion of Payment Amounts All amounts due in respect of principal and interest will be paid in United States dollars, calculated by the Calculation Agent by exchanging the Uruguayan peso amounts into United States dollars at the applicable exchange rate on the applicable rate calculation date. Currency of payment: United States Dollars Form(s) and denomination(s): Other provisions: One or more global securities deposited with a custodian for, and registered in the name of a nominee of the Depository Trust Company and in denominations of Uruguayan pesos 10,000 or integral multiples thereof. Underwriting Commission 0.125% of aggregate principal amount of Securities payable in United States Dollars Purchase price to Underwriters: Price (less the Underwriting Commission): US$399,500,000 (using the exchange rate for conversion of Uruguayan pesos into U.S. dollars of Ps. 23.900 per U.S. dollar) Initial public offering price: US$400,000,000 (inclusive of accrued interest, if any) Manner of payment: [Wire transfer of immediately available funds] funds Closing Date, time and location: [10 A.M. (New York City time) on September 14, 2006 in New York City Listing: [ ] Application has been made to admit the Securities to the Official List of the United Kingdom Listing Authority and to admit the Securities to trading on the regulated market of the London Stock Exchange] . Calculation Agent The Bank of New York SCHEDULE II Underwriter Underwriters Securities % Citigroup Global Markets Inc. Ps. 4,780,000,000 50 Deutsche Bank Securities Inc. Ps. 4,780,000,000 50 Total Ps. 9,560,000,000 100 SCHEDULE III Selling Restrictions

Obligation of the Underwriters for Purposes of Uruguayan Law. In order to give effect to Section 16(a17(a) hereof under the laws of the Republic, the Underwriters, the Republic and Banco Central hereby acknowledge that the primary obligation arising under this Agreement is the obligation on the part of the Underwriters to disburse the Purchase Price, subject to the adjustments referred to in Section 9(c), to or for the account of the Republic on the Closing Date against delivery of the Securities, subject to the terms and conditions set forth herein. If the foregoing is in accordance with your understanding of our agreement, please sign and return to the Republic and Banco Central a counterpart hereof, whereupon this instrument will become a binding agreement among the Republic, Banco Central, as financial agent for the Republic, and the Underwriters. Very truly yours, REPUBLICA REPÚBLICA ORIENTAL DEL URUGUAY By: /s/ Axxxx Xxxxxxxxx Name: Axxxx Xxxxxxxxx Title: Division Manager By: /s/ Vxxxxxx Xxxxx Name: Vxxxxxx Xxxxx Title: 10 XXXXX XXXXXXX XXX XXXXXXX Legal Advisor BANCO CENTRAL DEL URUGUAY By: /s/ Axxxx Xxxxxxxxx Name: Axxxx Xxxxxxxxx Title: Division Manager By: /s/ Vxxxxxx Xxxxx Name: Vxxxxxx Xxxxx Title: Accepted, on behalf of themselves, Legal Advisor The foregoing Agreement is hereby confirmed and accepted as Representatives of the Underwriters whose names are set forth on Schedule II hereto: [ ] [ ] for themselves and as Representatives for the other several Underwriters date hereof Deutsche Bank Securities Inc. By: /s/Mxxxxxx Xxxxxx Name: Mxxxxxx Xxxxxx Title: Managing Director By: /s/Dxxxxxx Xxxx Name: Dxxxxxx Xxxx Title: Director UBS Securities LLC By: /s/Mxxxxxx Xxxxxx Name: Mxxxxxx Xxxxxx Title: Managing Director— Latin American — Debt Capital Markets By: /s/Jxxxx Xxxxxxx Name: Jxxxx Xxxxxxx Title: Director SCHEDULE I Underwriting Agreement dated: January 24, 2006 Indenture: Indenture dated as of [ ]May 29, [ ] between 2003 among República Oriental del Uruguay, as Issuer, Banco Central del Uruguay, as Financial Agent Agent, and [ ]The Bank of New York, as trustee Representative(s) The Underwriters and address(es): their addresses: Deutsche Bank Securities Inc. 60 Xxxx Xxxxxx Xxx Xxxx, XX 00000 XXX Attention: Debt Capital Markets Fax 200-000-0000 UBS Securities LLC 600 Xxxxxxxxxx Xxxx. Xxxxxxxx, XX 00000 XXX Attention: Debt Capital Markets Fax: 200-000-0000 Title and description of Securities: Title: Aggregate 8.00% Bonds due 2000 Xxxxxxxxx principal amount: US$500,000,000 Interest payable from: November 18, 2006 Interest payment dates: May 18 and November 18 of each year, beginning May 18, 2006, with a final interest payment on the maturity date Maturity date: Redemption provisions: November 18, 2022 Currency of payment: United States Dollars Form(s) and denomination(s): Other provisions: One or more global securities deposited with a custodian for, and registered in the name of a nominee of the Depository Trust Company and in denominations of US$100,000 and integral multiples of US$1,000 in excess thereof Underwriting Commission 0.25% of aggregate principal amount of Securities Purchase price to Underwriters: Price (less the Underwriting Commission): 105.783% per bond (inclusive of accrued interest) Initial public offering price: 106.033% per bond (inclusive of accrued interest) Manner of payment: [Wire transfer of immediately available funds] funds Closing Date, time and location: [10 A.M. (New York City time) on January 27, 2006 in New York City Listing: [ ] Stock Exchange] Application has been made to admit the Securities to the Official List of the United Kingdom Listing Authority. SCHEDULE II Underwriter Underwriters Securities % Deutsche Bank Securities Inc. US$ 250,000,000 50 UBS Securities LLC US$ 250,000,000 50 Total US$ 500,000,000 100 SCHEDULE III Selling Restrictions

Obligation of the Underwriters for Purposes of Uruguayan Law. In order to give effect to Section 16(a17(a) hereof under the laws of the Republic, the Underwriters, Underwriters and the Republic and Banco Central hereby acknowledge that the primary obligation arising under this Agreement is the obligation on the part of the Underwriters to disburse the Purchase Price, subject to the adjustments referred to in Section 9(c)) hereof, to or for the account of the Republic on the Closing Date against delivery of the Securities, subject to the terms and conditions set forth herein. If the foregoing is in accordance with your understanding of our agreement, please sign and return to the Republic and Banco Central a counterpart hereof, whereupon this instrument will become a binding agreement among the Republic, Banco Central, as financial agent for the Republic, Republic and the Underwriters. Very truly yours, REPUBLICA REPÚBLICA ORIENTAL DEL URUGUAY By: _______________________ Name: Title: The foregoing Agreement is hereby confirmed and accepted as of the date hereof [ ] By: ______________________ Name: Title: 10 XXXXX XXXXXXX XXX XXXXXXX [ ] By: Name: Title: By: Name: Title: Accepted, on behalf of themselves, and as Representatives of the Underwriters whose names are set forth on Schedule II hereto: [ ] [ ] for themselves and as Representatives for the other several Underwriters By: Name: Title: By: ______________________ Name: Title: SCHEDULE I Underwriting Agreement dated: Indenture: Indenture Indenture, dated as of [ ]May 29, [ ] 2003, between República Oriental del de Uruguay, as Issuer, Banco Central del de Uruguay, as Financial Agent Agent, and [ ], as the trustee Representative(s) named therein. The Underwriters and address(es): their addresses: Title and description of Securities: Title: Aggregate principal amount: Interest payable from: Interest payment dates: Maturity date: Redemption provisionsPayment of Principal: Payment of Interest [Conversion of Payment Amounts] Currency of payment: Form(s) and denomination(s): Other provisions: Underwriting Commission Purchase price to Underwriters: Price (less the Underwriting Commission): Initial public offering price: Manner of payment: [Wire transfer of immediately available funds] . Closing Date, time and location: [Listing: [ ] Stock Exchange:] [Calculation Agent] SCHEDULE II Underwriter Underwriters Securities % Total SCHEDULE III Selling RestrictionsIII

Obligation of the Underwriters for Purposes of Uruguayan Law. In order to give effect to Section 16(a17(a) hereof under the laws of the Republic, the Underwriters, the Republic and Banco Central hereby acknowledge that the primary obligation arising under this Agreement is the obligation on the part of the Underwriters to disburse the Purchase Price, subject to the adjustments referred to in Section 9(c)) hereof, to or for the account of the Republic on the Closing Date against delivery of the Securities, subject to the terms and conditions set forth herein. If the foregoing is in accordance with your understanding of our agreement, please sign and return to the Republic and Banco Central a counterpart hereof, whereupon this instrument will become a binding agreement among the Republic, Banco Central, as financial agent for the Republic, and the Underwriters. Very truly yours, REPUBLICA REPÚBLICA ORIENTAL DEL URUGUAY By: /s/ Axxxx Xxxxxxxxx Name: Axxxx Xxxxxxxxx Title: Division Manager By: /s/ Dxxxxx Xxxxxxxx Name: Dxxxxx Xxxxxxxx Title: 10 XXXXX XXXXXXX XXX XXXXXXX Legal Advisor BANCO CENTRAL DEL URUGUAY By: /s/ Axxxx Xxxxxxxxx Name: Axxxx Xxxxxxxxx Title: Division Manager By: /s/ Dxxxxx Xxxxxxxx Name: Dx. Xxxxxx Xxxxxxxx Title: Accepted, on behalf of themselves, Legal Advisor The foregoing Agreement is hereby confirmed and accepted as Representatives of the Underwriters whose names are set forth on Schedule II hereto: [ ] [ ] for themselves and as Representatives for the other several Underwriters date hereof CITIGROUP GLOBAL MARKETS INC. By: /s/ Jxxx X. Xxxxxxxx Name: Jxxx X. Xxxxxxxx Title: Managing Director MXXXXX SXXXXXX & CO. INCORPORATED By: /s/ Cxxxxxx Xxxxx Name: Cxxxxxx Xxxxx Title: Executive Director SCHEDULE I Underwriting Agreement dated: IndentureMxxxx 00, 0000 Xxxxxxxxx: Indenture dated as of [ ]May 29, [ ] between 2003 among República Oriental del Uruguay, as Issuer, Banco Central del Uruguay, as Financial Agent Agent, and [ ]The Bank of New York, as trustee Representative(s) trustee. The Underwriters and address(es): their addresses: Citigroup Global Markets Inc. 300 Xxxxxxxxx Xxxxxx Xxx Xxxx, XX 00000 XXX Attention: General Counsel Fax: 600-0000000 Mxxxxx Sxxxxxx & Co. Incorporated 1000 Xxxxxxxx Xxx Xxxx, XX 00000 XXX Attention: Global Capital Markets Fax 200-0000000 Title and description of Securities: Title: Aggregate 7.625% Bonds due 2000 Xxxxxxxxx principal amount: US$500,000,000 Interest payable from: Interest Mxxxx 00, 0000 Xxxxxxxx payment dates: March 21 and September 21 of each year, beginning September 21, 2006, with a final interest payment on the maturity date Maturity date: Redemption provisionsMarch 21, 2036 Payment of Principal: Amounts due in respect of principal will be paid in three equal installments on March 21, 2034, March 21, 2035 and the maturity date. Currency of payment: United States Dollars Form(s) and denomination(s): Other provisions: One or more global securities deposited with a custodian for, and registered in the name of a nominee of the Depository Trust Company and in denominations of US$100,000 and integral multiples of US$1,000 in excess thereof. Underwriting Commission 0.175% of aggregate principal amount of Securities Purchase price to Underwriters: Price (less the Underwriting Commission): 99.825% per bond (inclusive of accrued interest) Initial public offering price: 100% per bond (inclusive of accrued interest) Manner of payment: [Wire transfer of immediately available funds] funds Closing Date, time and location: [10 A.M. (New York City time) on March 21, 2006 in New York City Listing: [ ] Stock Exchange] Application has been made to admit the Securities to the Official List of the United Kingdom Listing Authority. SCHEDULE II Underwriter Underwriters Securities % Citigroup Global Markets Inc. US$250,000,000 50 Mxxxxx Sxxxxxx & Co. Incorporated US$250,000,000 50 Total US$500,000,000 100 SCHEDULE III Selling Restrictions