Common use of Purpose Clause in Contracts

Purpose. The CEB grants the Loan to the Borrower, who accepts it, solely for the purpose of financing the Project as described under Appendix 1. The proceeds of the Loan cannot be used for the financing of taxes (including VAT), customs and other duties. Any change to the way the Loan is applied that has not received the CEB’s prior written approval would constitute an event in the terms of Article 3.3 (h) of the Loan Regulations and may give rise to the early reimbursement, suspension or cancellation of the Loan under the terms of Articles 3.3 (Early reimbursement of disbursed loans), 3.5 (Suspension by the Bank of undisbursed loans) and 3.6 (Cancellation by the Bank of undisbursed loans) of the Loan Regulations. FINANCIAL CONDITIONS Loan Amount The Loan Amount is: Disbursement Amount The Loan shall be disbursed in a minimum of two (2) Tranches. The amount of each Tranche, except for the first Tranche, shall be determined according to the Incurred Expenditure and Forecasted Expenditure. The amount of the first Tranche shall not exceed twenty-five per cent (25 %) of the Loan Amount. Disbursement Procedure The disbursement of each Tranche is determined through the following procedure:

Purpose. The CEB grants the Loan to the Borrower, who accepts it, solely for the purpose of financing the Project as described under Appendix 1. The proceeds of the Loan cannot be used for the financing of taxes (including VAT), customs and other duties. Any change to the way the Loan is applied that has not received the CEB’s prior written approval would constitute an event in the terms of Article 3.3 (h) of the Loan Regulations and may give rise to the early reimbursement, suspension or cancellation of the Loan under the terms of Articles 3.3 (Early reimbursement of disbursed loans), 3.5 (Suspension by the Bank of undisbursed loans) and 3.6 (Cancellation by the Bank of undisbursed loans) of the Loan Regulations. FINANCIAL CONDITIONS Loan Amount The Loan Amount is: Disbursement Amount The Loan shall be disbursed in a minimum of two (2) Tranches. The amount of each Tranche, except for the first Tranche, shall be determined according to the Incurred Expenditure and Forecasted Expenditure. The amount of the first Tranche shall not exceed twenty-five per cent (25 %) of the Loan Amount. Disbursement Procedure The disbursement of each Tranche is determined through the following procedure:: Disbursement Request Prior to each disbursement and upon prior consultation with CEB, the Borrower shall submit to the CEB a disbursement request substantially in the form set out under Appendix 3 hereto (hereinafter, a “Disbursement Request”).