SMEW Costs definition
SMEW Costs means legal, expert, foreign exchange, bank charges, negative interest, indemnity claims, external audit and any other costs related to the SMEW and which are incurred by, and to be reimbursed or paid to, EIF, for an SMEW Product, as specified in the relevant SMEW Product Description. SMEW Costs are to be reimbursed to EIF in accordance with the order of priority set out in Article 5 of this Schedule and from the SMEW Costs Reserve. To the extent that these sources would not be sufficient, SMEW Costs shall be covered, subject to availability of funds, by debiting the EFSI Account in accordance with Article 19.2 (b) of this Agreement and this shall not reduce the amount of EU Guarantee available. EIF and the Commission shall agree on any necessary measures to ensure that SMEW Costs can be covered by applying Article 5 (a) of this Schedule, the SMEW Costs Reserve and from amounts standing to the credit of the EFSI Account.