Common use of Loan Clause in Contracts

Loan. 1.1 Amount. KfW will extend to the Borrower a loan not exceeding a total of‌ split in two portions, of which • portion I shall be at least EUR 68,5 million, and shall be used pursuant to Article 1.2 (a) below ("Portion I"), and • portion II shall not exceed EUR 1,5 million, and shall be used pursuant to Article 1.2 (b) below ("Portion II") (Portion I and Portion II together are referred to as the "Loan"). 1.2 Channeling and purpose of the Loan. a) The Borrower shall channel Portion I to municipalities in the Republic of Serbia selected by the Borrower in consultation with KfW (each such town/municipality hereinafter referred to as “Municipality”, together as “Municipalities”) and to their respective public utility companies in charge of wastewater management (each such company hereinafter referred to as “Programme-Executing Agency”, together as “Programme-Executing Agencies”) on the conditions set forth in Article 2, and ensure that the Municipalities and the Programme-Executing Agencies will use Portion I exclusively to finance the implementation and improvement of wastewater infrastructure measures of the “Water Supply and Wastewater Treatment in Medium-Sized Municipalities in Serbia VI Programme” to improve the waste water systems in the Municipalities. The Borrower, in this respect represented by the Ministry of Construction, Transport and Infrastructure (the ”MCTI”) will ensure that both the Municipalities and the Programme-Executing Agencies will be jointly responsible for the implementation of the individual measures under Portion I. b) The Borrower will use Portion II exclusively to finance expert services for the implementation and improvement of wastewater infrastructure measures with respect to the Municipalities. The projects as set out in a) and b) above with respect to Portion I and Portion II are hereinafter collectively referred to as the “Programme”. 1.3 The Borrower, in this respect represented by the MCTI, acting as the Programme implementing unit, and KfW will determine the details of the Programme and the supplies and services to be financed from the Loan by separate agreements ("Separate Agreements"). 1.4 Taxes, charges, customs duties. Taxes and other public charges owed by the Borrower, any of the Municipalities or the Programme-Executing Agencies, as well as customs duties will not be financed from the Loan. In addition to the foregoing, the goods and services imported into the Republic of Serbia for the Programme shall be exempted from customs fees and the trade of goods, services, and equipment for the Programme shall be exempted from VAT.

Loan. 1.1 Amount. KfW will extend to the Borrower a loan not exceeding a total of‌ split in two portions, of which • portion I shall be at least EUR 68,5 million, and shall be used pursuant to Article 1.2 (a) below ("Portion I"), and • portion II shall not exceed EUR 1,5 million, and shall be used pursuant to Article 1.2 (b) below ("Portion II") (Portion I and Portion II together are referred to as the "Loan"). 1.2 Channeling and purpose of the Loan. a) The Borrower shall channel Portion I to municipalities in the Republic of Serbia selected by the Borrower in consultation with KfW (each such town/municipality hereinafter referred to as “Municipality”, together as “Municipalities”) and to their respective public utility companies in charge of wastewater management (each such company hereinafter referred to as “Programme-Executing Agency”, together as “Programme-Executing Agencies”) on the conditions set forth in Article 2, and ensure that the Municipalities and the Programme-Executing Agencies will use Portion I exclusively to finance the implementation and improvement of wastewater infrastructure measures of the “Water Supply and Wastewater Treatment in Medium-Sized Municipalities in Serbia VI Programme” to improve the waste water systems in the Municipalities. The Borrower, in this respect represented by the Ministry of Construction, Transport and Infrastructure (the ”MCTI”) will ensure that both the Municipalities and the Programme-Programme- Executing Agencies will be jointly responsible for the implementation of the individual measures under Portion I. b) The Borrower will use Portion II exclusively to finance expert services for the implementation and improvement of wastewater infrastructure measures with respect to the Municipalities. The projects as set out in a) and b) above with respect to Portion I and Portion II are hereinafter collectively referred to as the “Programme”. 1.3 The Borrower, in this respect represented by the MCTI, acting as the Programme implementing unit, and KfW will determine the details of the Programme and the supplies and services to be financed from the Loan by separate agreements ("Separate Agreements"). 1.4 Taxes, charges, customs duties. Taxes and other public charges owed by the Borrower, any of the Municipalities or the Programme-Executing Agencies, as well as customs duties will not be financed from the Loan. In addition to the foregoing, the goods and services imported into the Republic of Serbia for the Programme shall be exempted from customs fees and the trade of goods, services, and equipment for the Programme shall be exempted from VAT.

Loan. 1.1 Amount. KfW will extend to the Borrower a loan not exceeding a total of‌ of EUR 28,000,000.00 (Tranche 1) (in words: twenty-eight million Euro) and EUR 42,000,000.00 (Tranche 2) (in words: forty-two million Euro), totalling EUR 70,000,000.00 (in words: seventy million Euro), split in two portions, of which • portion I shall be at least EUR 68,5 million, and shall be used pursuant to Article 1.2 (a) below ("„Portion I"”), and • portion II shall not exceed EUR 1,5 million, and shall be used pursuant to Article 1.2 (b) below ("„Portion II"”) (Portion I and Portion II together are referred to as the "„Loan"”). 1.2 Channeling and purpose of the Loan. a) The Borrower shall channel Portion I to municipalities in the Republic of Serbia selected by the Borrower in consultation with KfW (each such town/municipality hereinafter referred to as “Municipality”, together as “Municipalities”) and to their respective public utility companies in charge of wastewater management (each such company hereinafter referred to as “Programme-Executing Agency”, together as “Programme-Executing Agencies”) on the conditions set forth in Article 2, and ensure that the Municipalities and the Programme-Executing Agencies will use Portion I exclusively to finance the implementation and improvement of wastewater infrastructure measures of the “Water Supply and Wastewater Treatment in Medium-Sized Municipalities in Serbia VI Programme” to improve the waste water systems in the Municipalities. The Borrower, in this respect represented by the Ministry of Construction, Transport and Infrastructure (the ”MCTI”) will ensure that both the Municipalities and the Programme-Executing Agencies will be jointly responsible for the implementation of the individual measures under Portion I. b) The Borrower will use Portion II exclusively to finance expert services for the implementation and improvement of wastewater infrastructure measures with respect to the Municipalities. The projects as set out in a) and b) above with respect to Portion I and Portion II are hereinafter collectively referred to as the “Programme”. 1.3 The Borrower, in this respect represented by the MCTI, acting as the Programme implementing unit, and KfW will determine the details of the Programme and the supplies and services to be financed from the Loan by separate agreements ("„Separate Agreements"”). 1.4 Taxes, charges, customs duties. Taxes and other public charges owed by the Borrower, any of the Municipalities or the Programme-Executing Agencies, as well as customs duties will not be financed from the Loan. In addition to the foregoing, the goods and services imported into the Republic of Serbia for the Programme shall be exempted from customs fees and the trade of goods, services, and equipment for the Programme shall be exempted from VAT.