Common use of Interest Clause in Contracts

Interest. 5.1 Fixed Interest Rate set upon disbursement of the Loan. a) Interest rate. The Borrower will pay interest on each disbursed Loan amount at a rate ("Fixed Interest Rate") determined by KfW within two Banking Days (as defined in Article 15.1 (Banking Day) hereof) prior to the disbursement of the respective Loan amount and which will be composed of: (i) The swap rate determined on the basis of Reuters page "ICAPEURO" or, if this page does not contain the necessary details or is not accessible, on Bloomberg page "ICAE" (or on a following page replacing the Reuters or Bloomberg pages stated above). If both pages fail to contain the necessary data or are irretrievable, KfW will determine this rate on the basis of its effective funding costs in the euro capital market for maturities that match the respective fixed interest periods as closely as possible, (ii) plus a margin of 0.60 % per annum that takes into account the grant funds made available by the Government of the Federal Republic of Germany. If the interest rate calculated in accordance with the foregoing falls below 0 % per annum, the Fixed Interest Rate will be 0 % per annum. The Fixed Interest Rate thus determined will apply until the last repayment instalment has been received in accordance with the repayment schedule set out in Article 6.1 (Repayment schedule) hereof. b) Consolidation. If more than one disbursement is made from the Loan KfW will consolidate the interest rates fixed for each Loan amount into a single interest rate after each disbursement. This consolidated Fixed Interest Rate will correspond to the weighted average of the individual interest rates, rounded down to 1/10,000 of one percentage point if the first omitted decimal is lower than 5 or rounded up to 1/10,000 of one percentage point if the first omitted decimal is equal to or greater than 5, and will be the basis for further calculation of interest from the date of each disbursement to the next disbursement. After full disbursement of the Loan the average interest rate thus determined will apply until the last repayment instalment has been received in accordance with the repayment schedule set out in Article 6.1 (Repayment schedule) hereof. c) Notification of the interest rate. KfW will notify to the Borrower the Fixed Interest Rate set pursuant to Article 5.1 a) (Interest rate) hereof without delay after it has been fixed. KfW will notify to the Borrower the interest rate consolidated pursuant to Article 5.1 b) (Consolidation) hereof prior to the next ensuing Payment Date (as defined in Article

Interest. 5.1 4.1. Fixed Interest Rate set upon disbursement of the Loan. a) Interest rate. The Borrower will pay interest on each disbursed Loan amount at a rate ("Fixed Interest Rate") determined by KfW within two Banking Days (as defined in Article 15.1 14.1 (Banking Day) hereof) prior to the disbursement of the respective Loan amount and which will be composed of: (i) The swap rate determined on the basis of Reuters page "ICAPEURO" or, if this page does not contain the necessary details or is not accessible, on Bloomberg page "ICAE" (or on a following page replacing the Reuters or Bloomberg pages stated above). If both pages fail to contain the necessary data or are irretrievable, KfW will determine this rate on the basis of its effective funding costs in the euro capital market for maturities that match the respective fixed interest periods as closely as possible, (ii) plus a margin of 0.60 0,65 % per annum that takes into account the grant funds made available by the Government of the Federal Republic of Germany. If the interest rate calculated in accordance with the foregoing falls below 0 % per annum, the Fixed Interest Rate will be 0 % per annum. The Fixed Interest Rate thus determined will apply until the last repayment instalment has been received in accordance with the repayment schedule set out in Article 6.1 5.1 (Repayment schedule) hereof. b) Consolidation. If more than one disbursement is made from the Loan KfW will consolidate the interest rates fixed for each Loan amount into a single interest rate after each disbursement. This consolidated Fixed Interest Rate will correspond to the weighted average of the individual interest rates, rounded down to 1/10,000 of one percentage point if the first omitted decimal is lower than 5 or rounded up to 1/10,000 of one percentage point if the first omitted decimal is equal to or greater than 5, and will be the basis for further calculation of interest from the date of each disbursement to the next disbursement. After full disbursement of the Loan the average interest rate thus determined will apply until the last repayment instalment has been received in accordance with the repayment schedule set out in Article 6.1 5.1 (Repayment schedule) hereof. c) Notification of the interest rate. KfW will notify to the Borrower the Fixed Interest Rate set pursuant to Article 5.1 4.1 a) (Interest rate) hereof without delay after it has been fixed. KfW will notify to the Borrower the interest rate consolidated pursuant to Article 5.1 4.1 b) (Consolidation) hereof prior to the next ensuing Payment Date (as defined in ArticleArticle 4.3 (Payment Dates) hereof). 4.2. Interest calculation. Interest on a disbursed Loan amount will be charged from the date (exclusively) on which the respective Loan amount is disbursed from the Loan account held with KfW for the Borrower until the date (inclusively) on which the respective repayments are credited to KfW's account specified in Article 6.3 (Account number, time of crediting) hereof. Interest will be calculated in accordance with Article 6.1 (Calculation) hereof. 4.3. Payment Dates. Interest will be due in arrears for payment on the dates specified below (each a "Payment Date"): a) prior to the due date of the first repayment instalment, on 15 May and 15 November of each year, but no earlier than on the Payment Date following the day on which this Loan Agreement enters into force and effect pursuant to Article 14.10 (Entry into force and effect) hereof; b) on the due date of the first repayment instalment pursuant to Article 5.1 (Repayment schedule) hereof together with such instalment; c) thereafter on the due dates of the repayment instalments pursuant to Article 5.1 (Repayment schedule) hereof.

Interest. 5.1 4.1 Interest. The Borrower will pay interest to KfW as follows: Fixed Interest Rate set upon disbursement of the Loan.. The Borrower will pay interest on the Loan in accordance with the following provisions: a) Interest rate. The Borrower will pay interest on each disbursed Loan amount at a rate ("Fixed Interest Rate") determined by KfW within two Banking Days (as defined in Article 15.1 14.1 (Banking Day) hereof) prior to the disbursement of the respective Loan amount and which will be composed of: (i) The swap rate determined on the basis of Reuters page "ICAPEURO" or, if this page does not contain the necessary details or is not accessible, on Bloomberg page "ICAE" (or on a following page replacing the Reuters or Bloomberg pages stated above). If both pages fail to contain the necessary data or are irretrievable, KfW will determine this rate on the basis of its effective funding costs in the euro capital market for maturities that match the respective fixed interest periods as closely as possible, (ii) plus a margin of 0.60 0.40% per annum that takes into account the grant funds made available by the Government of the Federal Republic of Germany. If the interest rate calculated in accordance with the foregoing falls below 0 % per annum, the Fixed Interest Rate will be 0 % per annum. The Fixed Interest Rate thus determined will apply until the last repayment instalment has been received in accordance with the repayment schedule set out in Article 6.1 5.1 (Repayment schedule) hereof. b) Consolidation. If more than one disbursement is made from the Loan KfW will consolidate the interest rates fixed for each Loan amount into a single interest rate after each disbursement. This consolidated Fixed Interest Rate will correspond to the weighted average of the individual interest rates, rounded down to 1/10,000 of one percentage point if the first omitted decimal is lower than 5 or rounded up to 1/10,000 of one percentage point if the first omitted decimal is equal to or greater than 5, and will be the basis for further calculation of interest from the date of each disbursement to the next disbursement. After full disbursement of the Loan the average interest rate thus determined will apply until the last repayment instalment has been received in accordance with the repayment schedule set out in Article 6.1 5.1 (Repayment schedule) hereof. c) Notification of the interest rate. KfW will notify to the Borrower the Fixed Interest Rate set pursuant to Article 5.1 4.1 a) (Interest rate) hereof without delay after it has been fixed. KfW will notify to the Borrower the interest rate consolidated pursuant to Article 5.1 4.1 b) (Consolidation) hereof prior to on the next ensuing Payment Date (as defined in ArticleArticle 4.3 (Payment Dates) hereof).

Interest. 5.1 Fixed Interest Rate set upon disbursement of the Loan. a) Interest rate. The Borrower will pay interest on each disbursed Loan amount at a rate ("“Fixed Interest Rate"”) determined by KfW within two Banking Days (as defined in Article 15.1 (Banking Day) hereof) prior to the disbursement of the respective Loan amount and which will be composed of: (i) The swap rate determined on the basis of Reuters page "“ICAPEURO" ” or, if this page does not contain the necessary details or is not accessible, on Bloomberg page "“ICAE" ” (or on a following page replacing the Reuters or Bloomberg pages stated above). If both pages fail to contain the necessary data or are irretrievable, KfW will determine this rate on the basis of its effective funding costs in the euro capital market for maturities that match the respective fixed interest periods as closely as possible, (ii) plus a margin of 0.60 % per annum that takes into account the grant funds made available by the Government of the Federal Republic of Germany. If the interest rate calculated in accordance with the foregoing falls below 0 % per annum, the Fixed Interest Rate will be 0 % per annum. The Fixed Interest Rate thus determined will apply until the last repayment instalment has been received in accordance with the repayment schedule set out in Article 6.1 (Repayment schedule) hereof. b) Consolidation. If more than one disbursement is made from the Loan KfW will consolidate the interest rates fixed for each Loan amount into a single interest rate after each disbursement. This consolidated Fixed Interest Rate will correspond to the weighted average of the individual interest rates, rounded down to 1/10,000 of one percentage point if the first omitted decimal is lower than 5 or rounded up to 1/10,000 of one percentage point if the first omitted decimal is equal to or greater than 5, and will be the basis for further calculation of interest from the date of each disbursement to the next disbursement. After full disbursement of the Loan the average interest rate thus determined will apply until the last repayment instalment has been received in accordance with the repayment schedule set out in Article 6.1 (Repayment schedule) hereof. c) Notification of the interest rate. KfW will notify to the Borrower the Fixed Interest Rate set pursuant to Article 5.1 a) (Interest rate) hereof without delay after it has been fixed. KfW will notify to the Borrower the interest rate consolidated pursuant to Article 5.1 b) (Consolidation) hereof prior to the next ensuing Payment Date (as defined in ArticleArticle 5.3 (Payment Dates) hereof). 5.2 Interest calculation. Interest on a disbursed Loan amount will be charged from the date (exclusively) on which the respective Loan amount is disbursed from the Loan account held with KfW for the Borrower until the date (inclusively) on which the respective repayments are credited to KfW’s account specified in Article 7.3 (Account number, time of crediting) hereof. Interest will be calculated in accordance with Article 7.1 (Calculation) hereof. 5.3 Payment Dates. Interest will be due in arrears for payment on the dates specified below (each a “Payment Date”): a) prior to the due date of the first repayment instalment, on 30 June and 30 December of each year, but no earlier than on the Payment Date following the day on which this Loan Agreement enters into force and effect pursuant to Article 15.10 (Entry into force and effect) hereof; b) on the due date of the first repayment instalment pursuant to Article 6.1 (Repayment schedule) hereof together with such instalment; c) thereafter on the due dates of the repayment instalments pursuant to Article 6.1 (Repayment schedule) hereof. 6.1 Repayment schedule. The Borrower will repay the Loan as follows: 1 30 Dec 2028 2,380,000.00 EUR 2 30 Jun 2029 2,381,000.00 EUR 3 30 Dec 2029 2,381,000.00 EUR 4 30 Jun 2030 2,381,000.00 EUR 5 30 Dec 2030 2,381,000.00 EUR 6 30 Jun 2031 2,381,000.00 EUR 7 30 Dec 2031 2,381,000.00 EUR 8 30 Jun 2032 2,381,000.00 EUR 9 30 Dec 2032 2,381,000.00 EUR 10 30 Jun 2033 2,381,000.00 EUR 11 30 Dec 2033 2,381,000.00 EUR 12 30 Jun 2034 2,381,000.00 EUR 13 30 Dec 2034 2,381,000.00 EUR 14 30 Jun 2035 2,381,000.00 EUR 15 30 Dec 2035 2,381,000.00 EUR 16 30 Jun 2036 2,381,000.00 EUR 17 30 Dec 2036 2,381,000.00 EUR 18 30 Jun 2037 2,381,000.00 EUR 19 30 Dec 2037 2,381,000.00 EUR 20 30 Jun 2038 2,381,000.00 EUR 21 30 Dec 2038 2,381,000.00 EUR This Repayment Schedule may be adjusted from time to time in accordance with Article 6.5 (Revised payment schedule). 6.2 Undisbursed Loan amounts. Undisbursed Loan amounts will be offset against the respective last repayment instalment due pursuant to the repayment schedule set forth in Article 6.1 (Repayment schedule) hereof unless KfW at its own discretion, after prior consultation with the Borrower, chooses another offsetting alternative in individual cases.

Interest. 5.1 Fixed Interest Rate set upon disbursement of the Loan. a) Interest rate. The Borrower will pay interest on each disbursed Loan amount at a rate ("”Fixed Interest Rate"”) determined by KfW within two Banking Days (as defined in Article 15.1 (Banking Day) hereof) prior to the disbursement of the respective Loan amount and which will be composed of: (i) The swap rate determined on the basis of Reuters page "”ICAPEURO" ” or, if this page does not contain the necessary details or is not accessible, on Bloomberg page "”ICAE" ” (or on a following page replacing the Reuters or Bloomberg pages stated above). If both pages fail to contain the necessary data or are irretrievable, KfW will determine this rate on the basis of its effective funding costs in the euro capital market for maturities that match the respective fixed interest periods as closely as possible, (ii) plus a margin of 0.60 % per annum that takes into account the grant funds made available by the Government of the Federal Republic of Germany. If the interest rate calculated in accordance with the foregoing falls below 0 % per annum, the Fixed Interest Rate will be 0 % per annum. The Fixed Interest Rate thus determined will apply until the last repayment instalment has been received in accordance with the repayment schedule set out in Article 6.1 (Repayment schedule) hereof. b) Consolidation. If more than one disbursement is made from the Loan KfW will consolidate the interest rates fixed for each Loan amount into a single interest rate after each disbursement. This consolidated Fixed Interest Rate will correspond to the weighted average of the individual interest rates, rounded down to 1/10,000 of one percentage point if the first omitted decimal is lower than 5 or rounded up to 1/10,000 of one percentage point if the first omitted decimal is equal to or greater than 5, and will be the basis for further calculation of interest from the date of each disbursement to the next disbursement. After full disbursement of the Loan the average interest rate thus determined will apply until the last repayment instalment has been received in accordance with the repayment schedule set out in Article 6.1 (Repayment schedule) hereof. c) Notification of the interest rate. KfW will notify to the Borrower the Fixed Interest Rate set pursuant to Article 5.1 a) (Interest rate) hereof without delay after it has been fixed. KfW will notify to the Borrower the interest rate consolidated pursuant to Article 5.1 b) (Consolidation) hereof prior to the next ensuing Payment Date (as defined in ArticleArticle 5.3 (Payment Dates) hereof). 5.2 Interest calculation. Interest on a disbursed Loan amount will be charged from the date (exclusively) on which the respective Loan amount is disbursed from the Loan account held with KfW for the Borrower until the date (inclusively) on which the respective repayments are credited to KfW’s account specified in Article 7.3 (Account number, time of crediting) hereof. Interest will be calculated in accordance with Article 7.1 (Calculation) hereof. 5.3 Payment Dates. Interest will be due in arrears for payment on the dates specified below (each a ”Payment Date”): a) prior to the due date of the first repayment instalment, on 30 June and 30 December of each year but no earlier than on the Payment Date following the day on which this Loan Agreement enters into force and effect pursuant to Article 15.10 (Entry into force and effect) hereof; b) on the due date of the first repayment instalment pursuant to Article 6.1 (Repayment schedule) hereof together with such instalment; c) thereafter on the due dates of the repayment instalments pursuant to Article 6.1 (Repayment schedule) hereof.