CREDIT FACILITY AGREEMENT
ПРЕДЛОГ
З А К О Н
О ПОТВРЂИВАЊУ УГОВОРА О КРЕДИТУ БР. ЦРС 1024 01 Ц ИЗМЕЂУ ФРАНЦУСКЕ АГЕНЦИЈЕ ЗА РАЗВОЈ, КАО ЗАЈМОДАВЦА И РЕПУБЛИКЕ СРБИЈЕ, КАО ЗАЈМОПРИМЦА
Члан 1.
Потврђује се Уговор о кредиту бр. ЦРС 1024 01 Ц између Француске агенције за развој, као Зајмодавца и Републике Србије, као Зајмопримца, који је потписан 5. децембра 2022. године у Београду, у оригиналу на енглеском језику.
Члан 2.
Текст Уговора о кредиту бр. ЦРС 1024 01 Ц између Француске агенције за развој, као Зајмодавца и Републике Србије, као Зајмопримца, у оригиналу на енглеском језику и преводу на српски језик гласи:
AFD AGREEMENT N° CRS 1024 01 C
CREDIT FACILITY AGREEMENT
dated as of December 5, 2022 between
AGENCE FRANÇAISE DE DEVELOPPEMENT
The Lender
and
THE REPUBLIC OF SERBIA
The Borrower
TABLE OF CONTENTS
1. DEFINITIONS AND INTERPRETATION 6
1.1 Definitions 6
1.2 Interpretation 6
2. FACILITY, PURPOSE AND CONDITIONS OF UTILISATION 6
2.1 Facility 6
2.2 Purpose 6
2.3 Monitoring 6
2.4 Conditions precedent 6
3. DRAWDOWN OF FUNDS 7
3.1 Drawdown amounts 7
3.2 Drawdown request 7
3.3 Payment completion 8
3.4 Disbursement Methods 8
3.5 Deadline for the first Drawdown 11
3.6 Deadline for Drawdown of the Funds 11
4. INTEREST 11
4.1 Interest Rate 11
4.2 Calculation and payment of interest 13
4.3 Late payment and default interest 13
4.4 Communication of Interest Rates 14
4.5 Effective Global Rate (Taux Effectif Global) 14
5. CHANGE TO THE CALCULATION OF INTEREST 14
5.1 Market Disruption 14
5.2 Replacement of Screen Rate 15
6. FEES 16
6.1 Commitment fees 16
6.2 Front-end Fee 17
7. REPAYMENT 17
8. PREPAYMENT AND CANCELLATION 17
8.1 Voluntary prepayment 17
8.2 Mandatory prepayment 18
8.3 Cancellation by the Borrower 18
8.4 Cancellation by the Lender 18
8.5 Restrictions 19
9. ADDITIONAL PAYMENT OBLIGATIONS 19
9.1 Costs and expenses 19
9.2 Cancellation Indemnity 19
9.3 Prepayment Indemnity 19
9.4 Taxes and duties 20
9.5 Additional Costs 20
9.6 Currency indemnity 20
9.7 Due dates 21
10. REPRESENTATIONS AND WARRANTIES 21
10.1 Power and authority 21
10.2 Validity and admissibility in evidence 21
10.3 Binding obligations 22
10.4 No filing or stamp taxes 22
10.5 Transfer of funds 22
10.6 No conflict with other obligations 22
10.7 Governing law and enforcement 22
10.8 No default 23
10.9 No misleading information 23
10.10 Project Documents 23
10.11 Project Authorisations 23
10.12 Procurement 23
10.13 Pari passu ranking 24
10.14 Origin of funds, Acts of Corruption, Fraud and Anti-Competitive Practices 24
10.15 No Material Adverse Effect 24
10.16 No immunity 24
11. UNDERTAKINGS 24
11.1 Compliance with Laws, Regulations and Obligations 25
11.2 Authorisations 25
11.3 Project Documents 25
11.4 Implementation and preservation of the Project 25
11.5 Procurement 25
11.6 Environmental and social responsibility 26
11.7 Additional financing 27
11.8 Pari passu ranking 27
11.9 Designated Account 27
11.10 Inspections 27
11.11 Project evaluation 27
11.12 Implementation of the Project 28
11.13 Origin of funds, no Acts of Corruption, Fraud or Anti-Competitive Practices 28
11.14 Visibility and Communication 28
11.15 Grants to LSGs 29
12. INFORMATION UNDERTAKINGS 29
12.1 Financial Information 29
12.2 Progress Report 29
12.3 Co-Financing 29
12.4 Information - miscellaneous 29
13. EVENTS OF DEFAULTS 30
13.1 Events of Default 30
13.2 Acceleration 32
13.3 Notification of an Event of Default 32
14. ADMINISTRATION OF THE FACILITY 33
14.1 Payments 33
14.2 Set-off 33
14.3 Business Days 33
14.4 Currency of payment 33
14.5 Day count convention 33
14.6 Place of payment 33
14.7 Payment Systems Disruption 34
15. MISCELLANEOUS 34
15.1 Language 34
15.2 Certifications and determinations 35
15.3 Partial invalidity 35
15.4 No Waiver 35
15.5 Assignment 35
15.6 Legal effect 35
15.7 Entire agreement 35
15.8 Amendments 36
15.9 Confidentiality - Disclosure of information 36
15.10 Limitation 36
15.11 Hardship 36
16. NOTICES 36
16.1 In writing and addresses 36
16.2 Delivery 37
16.3 Electronic communications 37
17. GOVERNING LAW, ENFORCEMENT AND CHOICE OF DOMICILE 38
17.1 Governing Law 38
17.2 Arbitration 38
17.3 Service of process 39
18. DURATION 39
SCHEDULE 1A - DEFINITIONS 41
SCHEDULE 1B - CONSTRUCTION 51
SCHEDULE 2 - PROJECT DESCRIPTION 52
SCHEDULE 3 - FINANCING PLAN 53
SCHEDULE 4 - CONDITIONS PRECEDENT 55
SCHEDULE 5A - FORM OF DRAWDOWN REQUEST 57
SCHEDULE 5B - FORM OF CONFIRMATION OF DRAWDOWN AND RATE 59
SCHEDULE 5C - FORM OF RATE CONVERSION REQUEST 61
SCHEDULE 5D - FORM OF RATE CONVERSION CONFIRMATION 62
SCHEDULE 6 - INFORMATION THAT THE LENDER IS AUTHORIZED EXPRESSLY TO DISCLOSE ON THE LENDER’S WEBSITE (IN PARTICULAR ON
ITS OPEN DATA PLATFORM) 63
SCHEDULE 7 – AFD’S COVENANT OF INTEGRITY 64
SCHEDULE 8 – COMMUNICATION NOTE OF THE PROJECT 65
CREDIT FACILITY AGREEMENT
BETWEEN:
(1) REPUBLIC OF SERBIA represented by the Government of the Republic of Serbia, through Minister of Finance, Mr. Xxxxxx Xxxx, who is duly authorized to sign this Agreement
(“Republic of Serbia” or the “Borrower”);
AND
(2) AGENCE FRANCAISE DE DEVELOPPEMENT, a French public entity governed by French law, with registered office at 0, Xxx Xxxxxx Xxxxxxx, 00000 Xxxxx Xxxxx 00, Xxxxxx, registered with the Trade and Companies Register of Paris under number 000 000 000, represented by Mr. Xxxxxxxxx Xxxxxxxxxx, in his capacity as Director for the Western Balkans Regional Office, duly authorised to sign this Agreement,
(“AFD” or the “Lender”);
(hereinafter jointly referred to as the “Parties” and each a “Party”);
WHEREAS:
(A) The Borrower intends to implement the Serbia Local Infrastructure And Institutional Development Project (LIID) project (the “Project”), as described further in Schedule 2 (Project Description) for a total value of two hundred and sixty-five million and two hundred thousand Euros (EUR 265,200,000).
(B) The Borrower has requested that the Lender makes a facility available for the purposes of financing the Project in part.
(C) The IBRD as Co-Financier intends to provide financing of the Project for an amount of up to eighty-eight million and four hundred thousand Euros (EUR 88,400,000).
(D) Pursuant to resolution n° C20220095 of the Conseil d’Administration of AFD dated March 17, 2022, the Lender has agreed to make the Facility available to the Borrower pursuant to the terms and conditions of this Agreement.
THEREFORE THE PARTIES HAVE AGREED AS FOLLOWS:
1. DEFINITIONS AND INTERPRETATION
1.1 Definitions
Capitalised words and expressions used in this Agreement (including those appearing in the recitals above and in the Schedules) shall have the meaning given to them in Schedule 1A (Definitions), except as otherwise provided in this Agreement.
1.2 Interpretation
Words and expressions used in this Agreement shall be construed pursuant to the provisions of Schedule 1B (Construction), unless the contrary intention appears.
2. FACILITY, PURPOSE AND CONDITIONS OF UTILISATION
2.1 Facility
Subject to the terms of this Agreement, the Lender makes available to the Borrower a Facility in a maximum aggregate amount of one hundred and seventy six million and eight hundred thousand Euros (EUR 176,800,000).
2.2 Purpose
The Borrower shall apply all amounts borrowed by it under this Facility exclusively towards financing and/or refinancing Eligible Expenses in accordance with the Project's description set out in Schedule 2 (Project Description) and the Financing Plan set out in Schedule 3 (Financing plan).
2.3 Monitoring
The Lender shall not be held responsible for the use of any amount borrowed which is not in accordance with the provisions of this Agreement.
2.4 Conditions precedent
(a) No later than the Signing Date, the Borrower shall provide to the Lender all of the documents set out in Part I of Schedule 4 (Conditions Precedent).
(b) A Drawdown Request may not be delivered to the Lender unless:
(i) in the case of the first Drawdown, the Lender has received all of documents listed in Part II and III and IV of Schedule 4 (Conditions Precedent), and has notified the Borrower that such documents are satisfactory in form and substance;
(ii) in the case of any subsequent Drawdown, the Lender has received all of the documents set out in Part IV of Schedule 4 (Conditions Precedent), and has notified the Borrower that such documents are satisfactory in form and substance; and
(iii) on the date of the Drawdown Request and on the proposed Drawdown Date for the relevant Drawdown, no Payment Systems Disruption Event has occurred and the conditions set out in this Agreement have been fulfilled, including:
(1) no Event of Default is continuing or would result from the proposed Drawdown;
(2) no Co-Financier has suspended its payments in relation to the Project;
(3) the Drawdown Request has been made in accordance with the terms of Clause 3.2 (Drawdown request);
(4) each representation given by the Borrower in relation to Clause 10 (Representations and warranties) is true.
3. DRAWDOWN OF FUNDS
3.1 Drawdown amounts
The Facility will be made available to the Borrower during the Availability Period, in several Drawdowns, provided that the number of Drawdowns shall not exceed seventy (70).
3.2 Drawdown request
(a) Provided that the conditions set out in Clause 2.4(b) (Conditions precedent) are satisfied the Borrower may draw on the Facility by delivering to the Lender a duly completed and signed Drawdown Request as described below:
(i) An electronic copy of the Drawdown Request duly completed and signed, together with all the supporting documents required for the relevant conditions precedent fulfilment, shall at first be submitted, to the Co-Financier, simultaneously with submission of the relevant Withdrawal Application under the IBRD loan in accordance with the conditions and terms of the IBRD Loan Agreement; and
(ii) A hard copy of the duly completed and signed Drawdown Request shall be delivered by mail by the Borrower to the AFD office Director, at the address specified in Clause 16.1 (In writing and addresses).
Payments will be made in accordance with the instructions in the Disbursement and Financial Information Letter (DFIL), updated if necessary, issued by the Co-Financier.
Unless an exception is granted by the Lender, each Drawdown Request shall be made concurrently with a Withdrawal Application under the IBRD Loan Agreement for respective amounts to meet the pari passu financing indicated in Annex 3 (Financing Plan).
(b) Each Drawdown Request is irrevocable and will be regarded as having been duly completed if:
(i) the Drawdown Request is substantially in the form set out in Schedule 5A (Form of Drawdown Request);
(ii) the Drawdown Request is received by the Lender at the latest fifteen (15) Business Days prior to the Deadline for Drawdown;
(iii) the proposed Drawdown Date is a Business Day falling within the Availability Period;
(iv) the amount of the Drawdown complies with Clause 3.1 (Drawdown amounts); and
(v) all of the documents set out in Part II and/or III and/or IV of Schedule 4 (Conditions Precedent) as the case may be, for the purposes of the Drawdown are attached to the Drawdown Request, comply with the abovementioned Schedule and with the requirements of Clause 3.4 (Disbursement Methods), and are in form and substance satisfactory to the Lender.
Any documentary evidence, such as bills or paid invoices, shall include the reference number and date of the relevant payment order if applicable and required under the Co-Financier procedure.
The Borrower undertakes to keep possession of the documentary evidence originals, to make such evidence available to the Lender at any time and to provide the Lender with Certified copies or duplicates of such evidence as the Lender may request.
3.3 Payment completion
In application of the Co-Financing Agreement, once the Co-Financier has received a Withdrawal Application and the relevant supporting documents as described in Clause 3.2 (a) (i) above, the Co-Financier, on behalf and in the name of the Lender, will:
(i) assess all these supporting documents submitted, in compliance with the its applicable internal rules and procedures; and
(ii) verify that the amount requested in the Drawdown Request complies with the co-financing requirements under the Co-Financing Agreement.
If the result of the assessment and the verification mentioned above is satisfactory to the Co-Financier, the latter will notify the Lender in writing of such result through a disbursement notice (the “Disbursement Notice”).
Subject to Clause 14.7 (Payment Systems Disruption ), if each of the conditions set out in Clause 2.4(b) (Conditions precedent) of this Agreement has been met, the Lender shall make the requested Drawdown available to the Borrower not later than the Drawdown Date.
The Lender shall provide the Borrower with a letter of Drawdown confirmation substantially in the form set out in Schedule 5B (Form of confirmation of drawdown and rate).
3.4 Disbursement Methods
The Facility shall be made available in accordance with one or more of the following terms:
3.4.1 Reimbursement
Subject to the conditions set out in Part III and/or IV of Schedule 4 (Conditions Precedent) as the case may be, the funds may be paid directly to the Borrower in accordance with the terms and conditions of this Agreement, in order to refinance Eligible Expenses paid by the Borrower, provided that evidence of payment of the Eligible Expenses by the Borrower referred to in the Drawdown Request, has been delivered to the Lender through the Co-Financier in form and substance satisfactory to the Co-Financier.
The Lender may request directly or through the Co-Financier that the Borrower provides such other evidence showing that
works or services corresponding to the relevant Eligible Expenses have been implemented.
3.4.2 Direct payments
(a) Subject to the conditions set out in Part III and/or IV of Schedule 4 (Conditions Precedent) as the case may be, the Borrower may request in the Drawdown Request that the proceeds of a Drawdown are made available directly to any Contractor who are owed money under any procurement contracts for the supply of goods, services and other works entered into for the purposes of implementing all or part of the Eligible Expenses of the Project.
(b) The Borrower hereby authorises the Lender to make direct payments in accordance with paragraph (a) above from the proceeds of a Drawdown. The Lender will not be bound, at any time, to verify whether there is a restriction of any nature in connection with the requested Drawdown. The Lender reserves the right to reject such a request if it becomes aware of any such restriction.
(c) The Lender shall not be liable in any way whatsoever in relation to the Drawdowns and the Borrower waives any action it may have against the Lender in this respect. The Borrower shall indemnify the Lender against any cost, loss or liability which the Lender incurs in relation to third party actions against the Lender in respect of such Drawdowns.
(d) The Borrower acknowledges that any amount paid by the Lender pursuant to this Clause 3.4.2 will be a Drawdown and that it shall repay in full to the Lender all amounts paid under the Facility pursuant to this Clause 3.4.2 (Direct payments ), together with, and including but not limited to, all interest accrued on those amounts as from the relevant Drawdown Dates.
3.4.3 Drawdowns in the form of Advances
The Facility may be made available by the Lender in the form of advances (“Advance(s)”) paid into the Designated Account.
(a) Opening of the Designated Account
The Borrower shall open and maintain an account in the name of the Project (the “Designated Account”), at the National Bank of Serbia (“NBS”), for the sole purpose of (i) receipt of the proceeds of the Drawdowns of the Lender in the form of Advances, and (ii) payment of the Eligible Expenses.
The Borrower hereby undertakes, and procure that any right of set-off of any party is waived in respect of the Designated Account and any other account opened in the name of the Borrower at the NBS, or against any other debt of the Borrower.
(b) nitial Advance
Provided that the conditions set out in Clause 2.4 (Conditions precedent) have been satisfied, the Lender shall pay to the Designated Account an initial Advance of the amount specified in
the corresponding Disbursement Notice submitted by the Co- Financier to the Lender.
(c) Additional Advances
Additional Advances will be made upon the Borrower’s request in accordance with the same procedure required under the IBRD Loan Agreement and subject to the conditions referred to in Clause 2.4 (Conditions precedent).
(d) Final Advance
Unless the Lender agrees otherwise, the final Advance shall be paid in accordance with the same conditions as the other Advances and, if applicable, shall take into account any change in the financing plan of the Project agreed between the Parties.
(e) Justification for use of Advances
The Borrower agrees to deliver to the Lender:
(i) no later than the Deadline for Use of Funds, a certificate signed by an authorised signatory of the Borrower certifying that one hundred per cent (100%) of both the penultimate Advance and the final Advance have been used and providing a detailed breakdown of the sums paid in respect of the Eligible Expenses in the relevant period; and
(ii) no later than three (3) months after the date of delivery of the certificate referred to in subparagraph (i) above, a final audit report of the Designated Account (the “Final Audit Report”), carried out in accordance with the provisions of the IBRD Loan Agreement and the Project Operations and Grant Manual. The appointed auditor shall verify that all amounts drawn under the Facility and paid into the Designated Account have been used in accordance with the terms and conditions of this Agreement.
(f) Applicable exchange rate
If any Eligible Expenses are denominated in a currency other than Euro, the Borrower shall convert the invoice amount into the equivalent amount in Euros in accordance with the provisions of the IBRD Loan Agreement and the Project Operations and Grant Manual.
(g) Deadline for Use of Funds
The Borrower agrees that all funds paid in the form of Advances shall be used in full to pay Eligible Expenses no later than the Deadline for Use of Funds.
(h) Control – Audit
The Borrower agrees that, during the Drawdown Period, the Designated Account shall be audited in accordance with the provisions of the IBRD Loan Agreement and the Project Operations and Grant Manual. The auditor shall verify that all amounts drawn under the Facility and paid into the Designated
Account have been used in accordance with the terms of this Agreement.
Audit reports shall be made available by the Borrower to the Lender through the Co-Financier.
During the Drawdown Period, the Lender may carry out, or procure that a third party carries out on its behalf and at the cost of the Borrower, random inspections rather than systematic control of documentary evidence.
(i) Failure to justify the use of Advances by the Deadline for Use of Funds
The Lender may request that the Borrower repays all amounts in respect of which utilisation has not been duly or sufficiently justified in accordance with the IBRD Loan Agreement, together with all other sums standing to the credit of the Designated Account on the Deadline for Use of Funds. The Borrower shall repay such amounts to the Lender within twenty (20) calendar days of receipt of such notification from the Lender. Any repayment by the Borrower under this Clause shall be treated as a mandatory prepayment in accordance with the provisions of Clause 8.2 (Mandatory prepayment).
(j) Retention of documents
The Borrower shall retain documentary evidence and other documents in connection with the Designated Account and use of the Advances for a period of ten (10) years from the date of the last Drawdown under the Facility.
The Borrower undertakes to deliver such documentary evidences and other documents to the Lender, or to any auditing firm appointed by the Lender, upon the Lender’s request.
3.5 Deadline for the first Drawdown
The first Drawdown shall occur at the latest on the expiry date of a fourteen (14) month period from approval of the Facility by the competent organs of the Lender, as mentioned in paragraph (D) of the Recitals.
If the first Drawdown does not occur in the above-mentioned period, the Lender may cancel the Facility in accordance with Clause 8.4(b) (Cancellation by the Lender).
The deadline for the first Drawdown may not be postponed without the prior consent of the Lender.
Any postponement of the deadline for the first Drawdown will be (i) subject to new financial conditions applicable to Drawdowns and (ii) formalized in writing between the Parties.
3.6 Deadline for Drawdown of the Funds
The full drawdown of the Facility shall occur at the latest on the Deadline for Drawdown.
If the full drawdown does not occur by the above-mentioned date, the Lender may cancel the Facility in accordance with Clause 8.4 (Cancellation by the Lender).
The Deadline for Drawdown may not be postponed without the prior consent of the Lender.
Any postponement of the Deadline for Drawdown will be (i) subject to new financial conditions applicable to Drawdowns of the Available Credit and (ii) formalized in writing between the Parties.
4. INTEREST
4.1 Interest Rate
4.1.1 Selection of Interest Rate
For each Drawdown, the Borrower may select a fixed Interest Rate or a floating Interest Rate, which shall apply to the amount set out in the relevant Drawdown Request, by stating the selected Interest Rate, i.e., fixed or floating, in the Drawdown Request delivered to the Lender substantially in the form set out in Schedule 5A (Form of Drawdown Request), subject to the following conditions:
(i) Floating Interest Rate
The Borrower may select a floating Interest Rate, which shall be the percentage rate per annum, being the aggregate of:
- six-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement; and
- the Margin.
Notwithstanding the above, in the case of the first Drawdown, if the first Interest Period is less than one hundred and thirty-five (135) days, the applicable EURIBOR shall be:
- one-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement, if the first Interest Period is less than sixty
(60) days; or
- three-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 5 (Change to the calculation of interest) of the Agreement if the first Interest Period is between sixty
(60) days and one hundred and thirty-five (135) days.
(ii) Fixed Interest Rate
Provided that the amount of a requested Drawdown is equal to or greater than three million Euros (EUR 3,000,000), the Borrower may select a fixed Interest Rate for such requested Drawdown. The fixed Interest Rate shall be the Fixed Reference Rate increased or decreased by any
fluctuation of the Index Rate for the period from the Signing Date until the relevant Rate Setting Date.
4.1.2 Minimum Interest Rate
The Interest Rate determined in accordance with Clause 4.1.1 (Selection of Interest Rate), regardless of the elected option, shall not be less than zero point twenty-five per cent (0.25%) per annum, notwithstanding any decline in the Interest Rate.
4.1.3 Conversion from a floating Interest Rate to a fixed Interest Rate
(i) Rate Conversion upon the Borrower’s request
The Borrower may request at any time that the Lender converts the floating Interest Rate applicable to a Drawdown or several Drawdowns to a fixed Interest Rate, provided that the amount of such Drawdown or aggregate amount of Drawdowns (as applicable) is equal to, or higher than, three million Euros (EUR 3,000,000).
To this effect, the Borrower shall send to the Lender a Rate Conversion Request substantially in the form set out in Schedule 5C (Form of Rate Conversion Request). The Borrower may specify in the Rate Conversion Letter a maximum amount for fixed Interest Rate. If the fixed Interest Rate as calculated on the Rate Setting Date exceeds the maximum amount for fixed Interest Rate specified by the Borrower in the Rate Conversion Request, such Rate Conversion Request will be automatically cancelled.
The fixed Interest Rate will be effective two (2) Business Days after the Rate Setting Date.
(ii) Rate Conversion mechanics
The fixed Interest Rate applicable to the relevant Drawdown(s) shall be determined in accordance with Clause 4.1.1(ii) (Fixed Interest Rate) above on the Rate Setting Date referred to in subparagraph (i) above.
The Lender shall send to the Borrower a letter of confirmation of Rate Conversion substantially in the form set out in Schedule 5D (Form of Rate Conversion Confirmation).
A Rate Conversion is final and effected without costs.
4.2 Calculation and payment of interest
The Borrower shall pay accrued interest on Drawdown(s) on each Payment Date.
The amount of interest payable by the Borrower on a relevant Payment Date and for a relevant Interest Period shall be equal to the sum of any interest owed by the Borrower on the amount of the Outstanding Principal in respect of each Drawdown. Interest owed by the Borrower in respect of each Drawdown shall be calculated on the basis of:
(i) the Outstanding Principal owed by the Borrower in respect of the relevant Drawdown as at the immediately preceding Payment
Date or, in the case of the first Interest Period, on the corresponding Drawdown Date;
(ii) the exact number of days which have accrued during the relevant Interest Period on the basis of a three hundred and sixty (360) day year; and
(iii) the applicable Interest Rate determined in accordance with the provisions of Clause 4.1 (Interest Rate).
4.3 Late payment and default interest
(a) Late payment and default interest on all amounts due and unpaid (except for interest)
If the Borrower fails to pay any amount payable by it to the Lender under this Agreement (whether a payment of principal, a Prepayment Indemnity, any fees or incidental expenses of any kind except for any unpaid overdue interest) on its due date, interest shall accrue on the overdue amount, to the extent permitted by law, from the due date up to the date of actual payment (both before and after an arbitral award, if any) at the Interest Rate applicable to the current Interest Period (default interest) increased by three point five per cent (3.5%) (late- payment interest). No formal prior notice from the Lender shall be necessary.
(b) Late payment and default interest on unpaid overdue interest
Interest which has not been paid on its due date shall bear interest, provided they have remained unpaid for one year and to the extent permitted by law, at the Interest Rate applicable to the ongoing Interest Period (default interest), increased by three point five per cent (3.5%) (late-payment interest), to the extent that such Interest has been due and payable for at least one (1) year. No formal prior notice from the Lender shall be necessary.
The Borrower shall pay any outstanding interest under this Clause 4.3 (Late payment and default interest) immediately on demand by the Lender or on each Payment Date following the due date for the outstanding payment.
(c) Receipt of any payment of late payment interest or default interest by the Lender shall neither imply the grant of any payment extension to the Borrower, nor operate as a waiver of any of the Lender’s rights hereunder.
4.4 Communication of Interest Rates
The Lender shall promptly notify the Borrower of the determination of each Interest Rate in accordance with this Agreement.
4.5 Effective Global Rate (Taux Effectif Global)
In order to comply with Articles L. 314-1 to L.314-5 and R.314-1 et seq. of the French Consumer Code and L. 313-4 of the French Monetary and Financial Code, the Lender informs the Borrower, and the Borrower accepts, that the effective global rate (taux effectif global) applicable to the Facility may be valued at an annual rate of three point sixty-seven per cent (3.67 %) on the basis of a three hundred and sixty-five (365)
day year and an Interest Period of six (6) months, subject to the following:
(a) the above rate is given for information purposes only;
(b) the above rate is calculated on the basis that:
(i) drawdown of the Facility is in full on the Signing Date;
(ii) no Drawdown made available to the Borrower will bear interest on the floating rate; and
(iii) the fixed rate for the duration of the facility should be equal to three point fifty-five per cent (3.55%) per annum;
(c) the above rate takes into account the fees and costs payable by the Borrower under this Agreement, assuming that such fees and costs will remain fixed and will apply until the expiry of the term of this Agreement.
5. CHANGE TO THE CALCULATION OF INTEREST
5.1 Market Disruption
(a) If a Market Disruption Event affects the interbank market in the Eurozone and it is impossible:
(i) for the fixed Interest Rate, to determine the fixed Interest Rate applicable to a Drawdown, or
(ii) for the variable Interest Rate, to determine the applicable EURIBOR for the relevant Interest Period,
the Lender shall inform the Borrower.
(b) Upon the occurrence of the event described in paragraph (a) above, the applicable Interest Rate, as the case may be, for the relevant Drawdown or for the relevant Interest Period will be the sum of:
(i) the Margin; and
(ii) the percentage rate per annum corresponding to the cost to the Lender of funding the relevant Drawdowns(s) from whatever source it may reasonably select. Such rate shall be notified to the Borrower as soon as possible and, in any case, prior to (1) the first Payment Date for interest owed under such Drawdown for the fixed Interest Rate or (2) the Payment Date for interest owed under such Interest Period for the variable Interest Rate.
5.2 Replacement of Screen Rate
5.2.1 Definitions
"Relevant Nominating Body" means any central bank, regulator, supervisor or working group or committee sponsored or chaired by, or constituted at the request of any of them.
"Screen Rate Replacement Event" means any of the following events or series of events:
(a) the definition, methodology, formula or means of determining the Screen Rate has materially changed;
(b) a law or regulation is enacted which prohibits the use of the Screen Rate, it being specified, for the avoidance of doubt, that
the occurrence of this event shall not constitute a mandatory prepayment event;
(c) the administrator of the Screen Rate or its supervisor publicly announces:
(i) that it has ceased or will cease to provide the Screen Rate permanently or indefinitely, and, at that time, no successor administrator has been publicly nominated to continue to provide that Screen Rate;
(ii) that the Screen Rate has ceased or will cease to be published permanently or indefinitely; or
(iii) that the Screen Rate may no longer be used (whether now or in the future);
(d) a public announcement is made about the bankruptcy of the administrator of that Screen Rate or any other insolvency proceedings against it, and, at that time, no successor administrator has been publicly nominated to continue to provide that Screen Rate; or
(e) in the opinion of the Lender, the Screen Rate has ceased to be used in a series of comparable financing transactions.
"Screen Rate" means EURIBOR or, following the replacement of this rate by a Replacement Benchmark, the Replacement Benchmark.
"Screen Rate Replacement Date" means:
– with respect to the events referred to in items a), d) and e) of the above definition of Screen Rate Replacement Event, the date on which the Lender has knowledge of the occurrence of such event, and,
– with respect to the events referred to in items b) and c) of the above definition of Screen Rate Replacement Event, the date beyond which the use of the Screen Rate will be prohibited or the date on which the administrator of the Screen Rate permanently or indefinitely ceases to provide the Screen Rate or the date beyond which the Screen Rate may no longer be used.
5.2.2 Each Party acknowledges and agrees for the benefit of the other Party that if a Screen Rate Replacement Event occurs and in order to preserve the economic balance of the Agreement, the Lender may replace the Screen Rate with another rate (the "Replacement Benchmark") which may include an adjustment margin in order to avoid any transfer of economic value between the Parties (if any) (the "Adjustment Margin") and the Lender will determine the date from which the Replacement Benchmark and, if any, the Adjustment Margin shall replace the Screen Rate and any other amendments to the Agreement required as a result of the replacement of the Screen Rate by the Replacement Benchmark.
5.2.3 The determination of the Replacement Benchmark and the necessary amendments will be made in good faith and taking into account, (i) the recommendations of any Relevant
Nominating Body, or (ii) the recommendations of the administrator of the Screen Rate, or (iii) the industry solution recommended by professional associations in the banking sector or, (iv) the market practice observed in a series of comparable financing transactions on the replacement date.
5.2.4 In case of replacement of the Screen Rate, the Lender will promptly notify the Borrower of the replacement terms and conditions to replace the Screen Rate with the Replacement Benchmark, which will be applicable to Interest Periods starting at least two Business Days after the Screen Rate Replacement Date.
5.2.5 The provisions of Clause 5.2 (Replacement of Screen Rate) shall prevail over the provisions of Clause 5.1 (Market Disruption).
6. FEES
6.1 Commitment fees
Starting from one hundred and eighty (180) calendar days after the Signing Date onwards, the Borrower shall pay to the Lender a commitment fee (due and calculated as mentioned below) of zero point twenty-five per cent (0.25%) per annum.
The commitment fee shall be computed at the rate specified above on the amount of the Available Credit pro-rated for the actual number of days elapsed increased by the amount of any Drawdowns to be made available by the Lender in accordance with any pending Drawdown Requests.
The first commitment fee shall be calculated for the period from (i) from the date falling sixty (60) calendar days after the Signing Date (excluded) up to (ii) the immediately following Payment Date (included). Subsequent commitment fees shall be calculated for periods commencing on the day immediately following a Payment Date (included) and ending on the next Payment Date (included).
The accrued commitment fee shall be payable (i) on each Payment Date within the Availability Period; (ii) on the Payment Date following the last day of the Drawdown Period; and (iii) in the event the Available Credit is cancelled in full, on the Payment Date following the effective date of such cancellation.
6.2 Front-end Fee
No later than one hundred and eighty (180) calendar days after the Signing Date and prior to the first Drawdown, the Borrower shall pay to the Lender a front-end fee of zero point twenty five per cent (0.25%) calculated on the maximum amount of the Facility.
7. REPAYMENT
Following expiry of the Grace Period, the Borrower shall repay the Lender the principal amount of the Facility in twelve (12) equal semi- annual instalments, due and payable on each Payment Date.
The first instalment shall be due and payable on June 15th, 2029 and the last instalment shall be due and payable on December 15th, 2034.
At the end of the Drawdown Period, the Lender shall deliver to the Borrower an amortisation schedule in respect of the Facility taking into account, if applicable, any potential cancellation of the Facility pursuant to Clauses 8.3 (Cancellation by the Borrower) and/or 8.4 (Cancellation by the Lender).
8. PREPAYMENT AND CANCELLATION
8.1 Voluntary prepayment
The Borrower shall not be entitled to prepay the whole or any part of the Facility prior to the expiration date of the Drawdown Period.
As from the date following the expiration of the Drawdown Period, the Borrower may prepay the whole or any part of the Facility, subject to the following conditions:
(a) the Borrower shall notify the Lender of its intention to prepay by not less than thirty (30) Business Days’ written and irrevocable notice prior to the contemplated prepayment date;
(b) the amount to be prepaid shall be equal to one or several instalment(s) in principal;
(c) the contemplated prepayment date shall be a Payment Date;
(d) all prepayments shall be made together with the payment of accrued interest, any fees, indemnities and related costs in connection with the prepaid amount as provided under this Agreement;
(e) there is no outstanding unpaid amount; and
(f) in case of a part prepayment, the Borrower shall have given evidence, satisfactory to the Lender, that it has sufficient committed funding available for the purpose of financing the Project as determined in the Financing Plan.
On the Payment Date on which the prepayment is made, the Borrower shall pay the full amount of the Prepayment Indemnities due and payable pursuant to Clause 9.3 (Prepayment Indemnity)
8.2 Mandatory prepayment
The Borrower shall immediately prepay the whole or part of the Facility upon receipt of a notice from the Lender informing the Borrower of any of the following events:
(a) Illegality: it becomes unlawful for the Lender pursuant to its applicable law to perform any of its obligations as contemplated by this Agreement or to fund or maintain the Facility;
(b) Additional Costs: the amount of any Additional Costs referred to in Clause 9.5 (Additional Costs) is significant and the Borrower has refused to pay such Additional Costs;
(c) Default: the Lender declares an Event of Default in accordance with Clause 13 (Events of Defaults);
(d) Failure to justify use of funds: the Borrower fails to justify in a manner satisfactory to the Lender the use of the Advances by the Deadline for Use of Funds;
(e) Prepayment to a Co-Financier: the Borrower prepays whole or part of any amounts owed to a Co-Financier, in which case the Lender shall be entitled to request that the Borrower prepays, as the case may be, the Facility or an amount of the outstanding Facility in proportion with the amount prepaid to the Co- Financier.
In the case of each of the events specified in paragraphs (a), (b) and (c) above, the Lender reserves the right, after having notified the Borrower in writing, to exercise its rights as a creditor in the manner specified in paragraph (b) of Clause 13.2 (Acceleration).
8.3 Cancellation by the Borrower
Prior to the Deadline for Drawdown, the Borrower may cancel the whole or any part of the Available Credit by giving the Lender a three (3) Business Days’ prior notice.
Upon receipt of such notice of cancellation, the Lender shall cancel the amount notified by the Borrower, provided that the Eligible Expenses, as specified in the Financing Plan, are covered in a manner satisfactory to the Lender, except in the event that the Project is abandoned by the Borrower.
8.4 Cancellation by the Lender
The Available Credit shall be immediately cancelled upon delivery of a notice to the Borrower which shall be immediately effective, if:
(a) the Available Credit is not equal to zero on the Deadline for Drawdown;
(b) the first Drawdown has not occurred on the expiry date of a fourteen (14) month period from approval of the Facility by the competent organs of the Lender, as mentioned in paragraph (D) of the Recitals;
(c) an Event of Default has occurred and is continuing; or
(d) an event referred to in Clause 8.2 (Mandatory prepayment) has occurred;
except where, in the case of paragraphs (a) and (b) of this Clause 8.4 (Cancellation by the Lender), the Lender has proposed to postpone the Deadline for Drawdown or the deadline for the first Drawdown on the basis of new financial conditions which will apply to any Drawdowns under the Available Credit and the Borrower has agreed on the proposition.
8.5 Restrictions
(a) Any notice of prepayment or cancellation given by a Party pursuant to this Clause 8 (Prepayment and Cancellation) shall be irrevocable, and, unless otherwise provided in this Agreement, any such notice shall specify the date or dates on which the relevant prepayment or cancellation is to be made and the amount of that prepayment or cancellation.
(b) The Borrower shall not prepay or cancel all or any part of the Facility except at the times and in the manner expressly provided for in this Agreement.
(c) Any prepayment under this Agreement shall be made together with payment of (i) accrued interest on the prepaid amount, (ii) outstanding fees, and (iii) the Prepayment Indemnity referred to in Clause 9.3 (Prepayment Indemnity).
(d) Any prepayment amount will be applied against the remaining instalments in inverse order of maturity.
(e) The Borrower may not re-borrow the whole or any part of the Facility which has been prepaid or cancelled.
9. ADDITIONAL PAYMENT OBLIGATIONS
9.1 Costs and expenses
9.1.1 If an amendment to this Agreement is required, the Borrower shall reimburse to the Lender for all costs (including legal fees) reasonably incurred in responding to, evaluating, negotiating or complying with that requirement.
9.1.2 The Borrower shall reimburse to the Lender for all costs and expenses (including legal fees) incurred by it in connection with the enforcement or preservation of any of its rights under this Agreement.
9.1.3 The Borrower shall pay directly or, if applicable, reimburse the Lender in case of an advance made by the Lender, the amount of all costs and expenses in connection with the transfer of funds to, or for the account of, the Borrower from Paris to any other place agreed with the Lender, as well as any transfer fees and expenses in connection with the payment of all sums due under the Facility.
9.2 Cancellation Indemnity
If the Facility is cancelled in full or in part in accordance with the terms of Clauses 8.3 (Cancellation by the Borrower) and/or 8.4 (Cancellation by the Lender) paragraphs (a), (b) and (c), the Borrower shall pay a cancellation indemnity computed at two point five (2.5%) on the cancelled amount of the Facility.
Each cancellation indemnity shall be due and payable on the Payment Date immediately following a cancellation of all or part of the Facility.
9.3 Prepayment Indemnity
On account of any losses suffered by the Lender as a result of the prepayment of the whole or any part of the Facility in accordance with Clauses 8.1 (Voluntary prepayment) or 8.2 (Mandatory prepayment), the Borrower shall pay to the Lender an indemnity equal to the aggregate amount of:
- the Prepayment Compensatory Indemnity; and
- any costs arising out of the break of any interest rate hedging swap transactions put in place by the Lender in connection with the amount prepaid.
9.4 Taxes and duties
9.4.1 Registration costs
The Borrower shall pay directly, or, if applicable, reimburse the Lender in case of an advance made by the Lender, the costs of all stamp duty, registration and other similar taxes payable in respect of the Agreement and any potential amendment thereto.
9.4.2 Withholding Tax
The Borrower undertakes that all payments made to the Lender under this Agreement shall be free of any Withholding Tax in accordance with the interstate agreement entered into between the Republic of Serbia and the French Republic on February 25, 2019.
If a Withholding Tax is required by law, the Borrower undertakes to gross-up the amount of any such payment to such amount which leaves the Lender with an amount equal to the payment which would have been due if no payment of Withholding Tax had been required.
The Borrower shall reimburse to the Lender all expenses and/or Taxes for the Borrower’s account which have been paid by the Lender (if applicable), with the exception of any Taxes due in France.
9.5 Additional Costs
the Borrower shall pay to the Lender, within ten (10) Business Days of the Lender’s request, all Additional Costs incurred by the Lender as a result of: (i) the coming into force of any new law or regulation, or any amendment to, or any change in the interpretation or application of any existing law or regulation; or (ii) compliance with any law or regulation made after the Signing Date.
In this Clause, “Additional Costs” means:
(i) any cost arising after the Signing Date out of one of the event referred to in the first paragraph of this Clause and not taken into account by the Lender to compute the financial conditions of the Facility; or
(ii) any reduction of any amount due and payable under this Agreement,
which is incurred or suffered by the Lender as a result of (i) making the Facility available to the Borrower or (ii) entering into or performing its obligations under the Agreement.
9.6 Currency indemnity
If any sum due by the Borrower under this Agreement, or any order, judgment or award given or made in relation to such a sum, has to be converted from the currency in which that sum is payable into another currency, for the purpose of:
(i) making or filing a claim or proof against the Borrower; or
(ii) obtaining or enforcing an order, judgment or award in relation to any litigation or arbitration proceedings,
the Borrower shall indemnify the Lender against and, within ten
(10) Business Days of the Lender’s request and as permitted by law, pay to the Lender, the amount of any cost, loss or liability arising out of or as a result of the conversion including any discrepancy between: (A) the exchange rate used to convert the relevant sum from the first currency to the second currency; and
(B) the exchange rate or rate(s) available to the Lender at the time of its receipt of that sum. This obligation to indemnify the Lender is
9.7 Due dates
independent of any other obligation of the Borrower under this Agreement.
The Borrower waives any right it may have in any jurisdiction to pay any amount due under this Agreement in a currency or currency unit other than that in which it is expressed to be payable.
Any indemnity or reimbursement payable by the Borrower to the Lender under this Clause 9 (Additional Payment Obligations) is due and payable on the Payment Date immediately following the circumstances which have given rise to the relevant indemnity or reimbursement.
Notwithstanding the above, any indemnity to be paid in connection with a prepayment pursuant to Clause 9.3 (Prepayment Indemnity) is due and payable on the date of the relevant prepayment.
10. REPRESENTATIONS AND WARRANTIES
All the representations and warranties set out in this Clause 10 (Representations and warranties) are made by the Borrower for the benefit of the Lender on the Signing Date. All the representations and warranties in this Clause 10 (Representations and warranties) are also deemed to be made by the Borrower on the date on which all of the conditions precedent listed in Part III of Schedule 4 (Conditions Precedent) are satisfied, on the date of each Drawdown Request, on each Drawdown Date and on each Payment Date, except that the repeating representations contained in Clause 10.9 (No misleading information) are deemed to be made by the Borrower in relation to the information provided by the Borrower since the date on which the representation was last made.
10.1 Power and authority
The Borrower has the power to enter into, perform and deliver this Agreement and Project Documents and to perform all contemplated obligations. The Borrower has taken all necessary action to authorise its entry into, performance and delivery of this Agreement and Project Documents and the transactions contemplated by this Agreement and Project Documents.
10.2 Validity and admissibility in evidence All Authorisations required:
(a) to enable the Borrower to lawfully enter into, and exercise its rights and comply with its obligations under this Agreement and Project Documents; and
(b) to make this Agreement and the Project Documents admissible in evidence in the courts of the jurisdiction of the Borrower or in arbitration proceedings as defined under Clause 17 (Governing Law, Enforcement and Choice of Domicile),
have been obtained and are in full force and effect, and no circumstances exist which could result in the revocation, non-renewal or modification, in whole or in part, of any such Authorisations.
10.3 Binding obligations
The obligations expressed to be assumed by the Borrower under this Agreement and the Project Documents comply with all laws and
regulations applicable to the Borrower in its jurisdiction and are legal, valid, binding and enforceable obligations which are effective in accordance with their written terms.
10.4 No filing or stamp taxes
Under the laws of the jurisdiction of incorporation of the Borrower, it is not necessary that the Agreement be filed, recorded or enrolled with any court or other authority in that jurisdiction or that any stamp, registration or similar taxes or fees be paid on or in relation to the Agreement or the transactions contemplated therein.
10.5 Transfer of funds
All amounts due by the Borrower to the Lender under this Agreement whether as principal or interest, late payment interest, Prepayment Indemnity, incidental costs and expenses or any other sum are freely convertible and transferable.
This representation shall remain in full force and effect until full repayment of all sums due to the Lender. In the event that the repayment dates of the Facility are extended by the Lender, no further confirmation of this representation shall be necessary.
The Borrower shall obtain Euros necessary for compliance with this representation in due course.
Should any difficulty in respect of Xxxxxx’x right of conversion and free transfer of any sum under this Agreement occur for any reason, including but not limiting to: (i) the coming into force of any new law or regulation, or any amendment to, or any change in the interpretation or application of any existing law or regulation; or (ii) compliance with any law or regulation made after the Signing Date; the Borrower will secure, without delay, all required certificates/confirmations from competent authorities (including National Bank of Serbia) in order to enable that all due sums under this Agreement are freely convertible and transferable.
10.6 No conflict with other obligations
The entry into and performance by the Borrower of, and the transactions contemplated by, this Agreement and the Project Documents do not conflict with any domestic or foreign law or regulation applicable to it, its constitutional documents (or any similar documents) or any agreement or instrument binding upon the Borrower or affecting any of its assets.
10.7 Governing law and enforcement
(a) The choice of French law as the governing law of this Agreement will be recognised and enforced by the courts and arbitration tribunals in the jurisdiction of the Borrower.
(b) Any judgment obtained in relation to this Agreement in a French court or any award by an arbitration tribunal will be recognised and enforced in the jurisdiction of incorporation of the Borrower.
10.8 No default
No Event of Default is continuing or is reasonably likely to occur.
No breach of the Borrower is continuing in relation to any other agreement binding upon it, or affecting any of its assets, which has, or is reasonably likely to have, a Material Adverse Effect.
10.9 No misleading information
All information and documents supplied by the Borrower to the Lender were true, accurate and up-to-date as at the date they were provided or, if appropriate, as at the date at which they are stated to be given and have not been varied, revoked, cancelled or renewed on revised terms, and are not misleading in any material respect as a result of an omission, the occurrence of new circumstances or the disclosure or non-disclosure of any information.
10.10 Project Documents
The Project Documents represent the entire agreement relating to the Project on the Signing Date and are valid, binding and enforceable against third parties. The Project Documents have not been amended, terminated or suspended without the prior approval of the Lender since the date on which they were delivered to the Lender and there is no current dispute in connection with the validity of the Project Documents.
10.11 Project Authorisations
All Project Authorisations have been obtained or effected and are in full force and effect and there are no circumstances which may result in any Project Authorisation being revoked, cancelled, not renewed or varied in whole or in part.
10.12 Procurement
The Borrower: (i) has received a copy of the Applicable Procurement Guidelines and (ii) understands the terms of the Applicable Procurement Guidelines, in particular, those terms relating to any actions which the Lender may take in the case of a breach of the Applicable Procurement Guidelines.
The Borrower is contractually bound by the Applicable Procurement Guidelines as if such Applicable Procurement Guidelines were incorporated by reference into this Agreement. The Borrower confirms that the procurement, allocation and performance of the contracts relating to the implementation of the Project comply with the Applicable Procurement Guidelines.
The Borrower has acknowledged the content of the Schedule AFD’s Covenant of Integrity in Schedule 7 (AFD’s Covenant of Integrity) of this Agreement. Requirements stipulated in AFD’s Covenant of Integrity must be formally produced by any holder of a contract to be concluded within the framework of the Project and therefore, where appropriate, included in the pre-procurement documentation
10.13 Pari passu ranking
The Borrower’s payment obligations under this Agreement rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors.
10.14 Origin of funds, Acts of Corruption, Fraud and Anti-Competitive Practices The Borrower represents and warrants that:
(i) all the funds invested in the Project are from the proceeds of the Facility and the Co-financing, pursuant to the Law Approving the Budget of the Republic of Serbia for the year 2022 (Zakon o
budžetu Republike Srbije za 2022. godinu, Official Gazette of the Republic of Serbia, no. 110/2021);
(ii) the Project (in particular, the negotiation, award and performance of any contracts financed with the Facility) has not given rise to any Act of Corruption, Fraud or Anti-Competitive Practice.
10.15 No Material Adverse Effect
The Borrower represents and warrants that no event or circumstance which is likely to have a Material Adverse Effect has occurred or is likely to occur.
10.16 No immunity
If and to the extent that the Borrower may now or in future in any jurisdiction claim immunity for itself or its assets and to the extent that a jurisdiction grants immunity to the Borrower, the Borrower will not be entitled to claim for itself or any of its assets immunity from suit, execution, attachment or other legal process in connection with this Agreement to the fullest extent permitted by the laws of such jurisdiction.
The Borrower does not waive any immunity in respect of any present or future (i) “premises of the mission” as defined in the Vienna Convention on Diplomatic Relations signed in 1961, (ii) “consular premises” as defined in the Vienna Convention on Consular Relations signed in 1963,
(iii) assets that cannot be in commerce, (iv) military property or military assets and buildings, weapons and equipment designated for defence, state and public security, (v) receivables the assignment of which is restricted by law, (vi) natural resources, common use items, grids in public ownership, river basin land and water facilities in public ownership, protected natural heritage in public ownership and cultural heritage in public ownership, (vii) real estate in public ownership which is, partly or entirely, used by the authorities of the Republic of Serbia, autonomous provinces or local self-government for the purpose of exercising their rights and duties; (viii) the state's, autonomous province’s or local government’s stocks and shares in companies and public enterprises, unless the relevant entity consented to the establishment of a pledge over such stocks or shares, (ix) movable or immovable assets of health institutions, unless a mortgage was established based on the government's decision, (x) monetary assets and financial instruments determined as financial collateral in accordance with the law regulating financial collateral including monetary assets and financial instruments which are pledged in accordance with such law or (xi) other assets exempt from enforcement by international law or international treaties.
11. UNDERTAKINGS
The undertakings in this Clause 11 (Undertakings) take effect on the Signing Date and remain in full force and effect for as long as any amount is outstanding under this Agreement.
11.1 Compliance with Laws, Regulations and Obligations The Borrower shall comply:
(a) in all respects with all laws and regulations to which it and/or the Project is subject, particularly in relation to all applicable environmental protection, safety and labour laws; and
(b) with all of its obligations under the Project Documents.
11.2 Authorisations
The Borrower shall promptly obtain, comply with and do all that is necessary to maintain in full force and effect any Authorisation required under any applicable law or regulation to enable it to perform its obligations under this Agreement and the Project Documents and to ensure the legality, validity, enforceability and admissibility in evidence of this Agreement or any Project Document.
11.3 Project Documents
The Borrower through the Ministry of Construction, Transports and Infrastructure (MCTI) shall provide the Co-Financier on behalf of the Lender for no-objection or information, as the case may be, with a copy of any Project Documents or amendment thereto and shall not (and shall not agree to) make any material amendment to any Project Document without obtaining the Co-Financier’s prior no-objection.
11.4 Implementation and preservation of the Project The Borrower through MCTI shall:
(i) implement the Project in accordance with the generally accepted safety principles and in accordance with technical standards in force; and
(ii) maintain the Project assets in accordance with all applicable laws and regulations and in good operating and maintenance conditions, and use such assets in compliance with their purpose and all applicable laws and regulations.
11.5 Procurement
In relation to the procurement, award and performance of contracts entered into in connection with the implementation of the Project, the Borrower shall comply with, and implement, the Applicable Procurement Procedures.
The Borrower shall take all actions and steps necessary for the effective implementation of the Applicable Procurement Procedures.
The Borrower through MCTI undertakes to:
(i) submit (a) updated procurement plans, and (b) contracts subjects to prior review of the Co-Financier.
(ii) in the case of prior review contracts, provide the Lender with a copy of the evaluation report (including prequalification report and shortlisting report, as applicable) at the same time it is submitted to the Co-Financier. If the bidder does not meet AFD’s financing eligibility requirements, the Lender will promptly inform the Co- Financier and the Borrower. The Co-Financier and the Lender shall then consult with the Borrower to determine the appropriate course of action;
(iii) in the case of post review contracts, include in the terms of reference of the audits referred to in Article 3.4.3(h) (Control –
Audit) a review of the Borrower’s controls and operating procedures for complying with AFD’s financing eligibility requirements regarding any Financial Sanctions List ;
(iv) retain all documentation with respect to contracts subjects to post review during project implementation and up to two years after the Deadline for Use of Funds;
(v) in case of contracts subject to international competition, publish the procurement notices on the website xxxx://xxx.xxxxxxxx.xxx;
in addition to the Applicable Procurement Procedures, make the AFD’s Covenant of Integrity, as provided in Schedule 7 (AFD’s Covenant of Integrity), as a binding document to each of the Contractors including in cases of non-competitive procurement processes.
11.6 Environmental and social responsibility
11.6.1 Implementation of environmental and social measures
In order to promote sustainable development, the Parties agree that it is necessary to promote compliance with internationally recognised environmental and labour standards, including fundamental conventions of the International Labour Organization (“ILO”) and the international environmental laws and regulations applicable in the Borrower’s jurisdiction. For such purpose, the Borrower shall:
with respect to its business activities:
(a) comply with international standards for the protection of the environment and labour laws, particularly the fundamental conventions of the ILO and the international environmental conventions, in accordance with the applicable laws and regulations of the country in which the Project is being implemented.
with respect to the Project:
(b) include in the procurement contracts, and, as the case may be, in the bidding documents, a clause whereby the contracting parties agree, and agree to procure that their sub-contractors (if any) agree, to comply with such standards in accordance with the applicable laws and regulations of the country where the Project is being implemented. The Lender will be entitled to request that the Borrower deliver a report on environmental and social conditions of implementation of the Project;
(c) put in place appropriate mitigation measures specific to the Project as defined within the context of the environmental and social risk management policy of the Project and described in the ESCP referred to in the IBRD Loan Agreement ;
(d) require that the Contractors appointed for implementation of the Project, apply the mitigation measures set out in paragraph (c) above and procure that their subcontractors (if any) comply with all such measures and take all appropriate steps in the event of a failure to put in place such mitigation measures; and
(e) provide the Lender through the Co Financier with annual follow-up reports in relation to the ESCP.
11.6.2 Environmental and social (ES) complaints-management
(a) The Borrower (i) confirms that it has received a copy of the ES Complaints-Management Mechanism’s Rules of Procedure and has acknowledged its terms, in particular with respect to actions that may be taken by the Lender in the event that a third party lodges a complaint, and (ii) acknowledges that these ES Complaints-Management Mechanism’s Rules of Procedure have, as between the Borrower and the Lender, the same contractually binding effect as this Agreement.
(b) The Borrower expressly authorizes the Lender to disclose to the experts (as defined in the ES Complaints-Management Mechanism’s Rules of Procedure) and to parties involved in the compliance review and/or conciliation processes, the Project documents concerning environmental and social matters necessary for processing the environmental and social complaint.
11.7 Additional financing
The Borrower shall not amend or alter the Financing Plan without obtaining the Lender’s prior written consent and shall finance any additional costs not anticipated in the Financing Plan on terms which ensure that the Facility will be repaid.
11.8 Pari passu ranking
The Borrower undertakes (i) to ensure that its payment obligations under this Agreement rank at all times at least pari passu with its other present and future unsecured and unsubordinated payment obligations;
(ii) not to grant prior ranking or guarantees to any other lenders except if the same ranking or guarantees are granted by the Borrower in favour of the Lender, if so requested by the Lender.
11.9 Designated Account
The Borrower shall open, maintain and fund the Designated Account in accordance with the terms and conditions of this Agreement.
11.10 Inspections
The Borrower hereby authorizes the Lender and its representatives to carry out inspections the purpose of which will be to assess the implementation and operations of the Project as well as the impact and the achievement of the objectives of the Project.
The Borrower shall co-operate and provide all reasonable assistance and information to the Lender and its representatives when carrying out such inspections, the timing and format of which shall be determined by the Lender following consultation with the Borrower.
The Borrower shall retain and make available for inspection by the Lender, all documents relating to the Eligible Expenses for a period of ten (10) years from the date of the last Drawdown under the Facility.
11.11 Project evaluation
The Borrower acknowledges that the Lender may carry out, or procure that a third party carries out on its behalf, an evaluation of the Project. Feedback from this evaluation will be used to produce a summary containing information on the Project, such as: total amount and duration of the funding, objectives of the Project, expected and achieved
quantified outputs of the Project, assessment of the relevance, effectiveness, impact and viability/sustainability of the Project, main conclusions and recommendations.
The main objective of the evaluation will be the articulation of credible and independent judgement on the key issues of relevance, implementation (efficiency) and effects (effectiveness, impact and sustainability).
Evaluators will need to take into account in a balanced way the different legitimate points of view that may be expressed and conduct the evaluation impartially.
The Borrower will be involved as closely as possible in the evaluation, from the drafting of the Terms of Reference to the delivery of the final report.
The Borrower agrees to the publication of this summary, in particular on the Lender's website.
11.12 Implementation of the Project
The Borrower shall:
(i) ensure that any person, group or entity participating in the implementation of the Project is not listed on any Financial Sanctions List (including in particular the fight against terrorist financing); and
(ii) not finance any supplies or sectors which are subject to an Embargo by the United Nations, the European Union or France.
11.13 Origin of funds, no Acts of Corruption, Fraud or Anti-Competitive Practices The Borrower undertakes:
(i) to ensure that the funds, other than those of State origin, invested in the Project will not be of an Illicit Origin;
(ii) To ensure that the Project (in particular during the negotiation, entry into and performance of the contracts funded out of the Facility) shall not give rise to any Act of Corruption, Fraud or Anti- Competitive Practice;
(iii) as soon as it becomes aware of, or suspects, any Act of Corruption, Fraud or Anti-Competitive Practice, to inform the Lender without any delay;
(iv) in the event referred to in paragraph (iii) above, or at the Lender’s request if the Lender suspects that the acts or practices referred to in paragraph (iii) have occurred, take all necessary actions to remedy the situation in a manner satisfactory to the Lender and within the time period determined by the Lender; and
(v) to notify the Lender without delay if it has knowledge of any information which leads it to suspect any Illicit Origin of any funds invested in the Project.
11.14 Visibility and Communication
The Borrower shall implement visibility and communication actions related to the implementation of the Project in accordance with the terms of the Visibility and Communication Guide, and acknowledges having fully read and understood the aforementioned guide.
According to the Visibility and Communication Guide, the Project is subject to communication and visibility obligations of level 1.
11.15 Grants to LSGs
The Borrower, through MCTI, shall:
(i) enter into a Framework Agreement with Participating LSGs, under terms and conditions acceptable to the Co-Financier and set forth in the Project Operations and Grant Manual;
(ii) enter into an agreement (Grant Agreement) with the relevant Participating LSG, under terms and conditions acceptable to the Co-Financier;
(iii) ensure that the Participating LSGs comply with this Agreement;
(iv) provide the Lender, at its request, with any information in relation to the grants made available to the Participating LSGs.
12. INFORMATION UNDERTAKINGS
The undertakings in this Clause 12 (Information Undertakings) take effect on the Signing Date and remain in full force and effect for as long as any amount is outstanding under this Agreement.
12.1 Financial Information
The Borrower shall supply to the Lender any information that the Lender may reasonably require in relation to the Borrower’s foreign and domestic debt as well as the status of any guaranteed loans.
12.2 Progress Report
During the implementation of the Project, the Borrower shall supply to the Lender through the Co-Financier the Project progress reports in the format and content defined under the Project Operations and Grant Manual.
12.3 Co-Financing
The Borrower shall promptly inform the Lender of any cancellation (in whole or in part) or any prepayment by the Co-Financier.
12.4 Information - miscellaneous
The Borrower shall supply to the Lender and (the Co-Financier with respect to (b) to (c):
(a) promptly upon becoming aware of them, details of any event or circumstance which is or may be an Event of Default or which has or may have a Material Adverse Effect, the nature of such an event and all the actions taken or to be taken to remedy it (if any);
(b) promptly upon becoming aware of them, details of any incident or accident directly related to the implementation of the Project which might have a significant impact on the Project site, the working conditions of its employees or Contractors’ employees, the nature of such incident or accident, together with details of any action taken or proposed to be taken, as applicable, by the Borrower to remedy it;
(c) promptly, details of any decision or event which might affect the organisation, completion or operation of the Project;
(d) promptly but in any event within five (5) Business Days after becoming aware of them, details of any notification of default, termination, dispute or material claim made against it under a Project Document or affecting the Project, together with details of any action taken or proposed to be taken by the Borrower to remedy it;
(e) during the completion of services (including but not limited to services related to studies and monitoring where the Project involves the provision of such services), the interim and final reports drafted by any service provider, and after full completion of such services an overall execution report,;
(f) promptly, any further information regarding its financial condition, assets and operations or any documents or other communications given or received by it under any Project Document that the Lender may reasonably request.
13. EVENTS OF DEFAULTS
13.1 Events of Default
Each of the events or circumstances set out in this Clause 13.1 (Events of Default) is an Event of Default.
(a) Payment Default
The Borrower does not pay on the due date any amount payable by it under this Agreement in the manner required under this Agreement. However, without prejudice to Clause 4.3 (Late payment and default interest), no Event of Default will occur under this paragraph (a) if such payment is made in full by the Borrower within five (5) Business Days of the due date.
(b) Project Documents
Any Project Document, or any of the rights and obligations set out therein, ceases to be in full force and effect, is subject to a notice of termination or its validity, legality or enforceability is challenged.
No Event of Default will occur pursuant to this paragraph (b) if (i) the challenge or notice of termination is withdrawn within thirty
(30) calendar days after the date on which the Lender informed the Borrower of such challenge or notice or the Borrower became aware of such challenge or notice; and (ii), according to the opinion of the Lender and the Co-Financier, such dispute or request has not had a Material Adverse Effect during such thirty
(30) day period.
(c) Undertakings and Obligations
The Borrower does not comply with any term of the Agreement, including, without limitation, any of the undertakings it has given pursuant to Clause 11 (Undertakings) and Clause 12 (Information Undertakings).
Save for the undertakings given pursuant to Clause 11.6 (Environmental and Social Liability), Clauses 11.12
Implementation of the Project) and 11.13 (Origin of funds, no Acts of Corruption, Fraud or Anti-Competitive Practices) in respect of which no grace period is permitted, no Event of Default will occur
under this paragraph (c) if the non-compliance is capable of remedy and is remedied within five (5) Business Days of the earlier of (A) the date of the Lender’ notice of failure to the Borrower; and (B) the Borrower becoming aware of the breach, or within the time limit determined by the Lender in the case referred to in subparagraph (iv) of Clause 11.13 (Origin of funds, no Acts of Corruption, Fraud or Anti-Competitive Practices).
(d) Misrepresentation
A representation or warranty made by the Borrower in the Agreement, including under Clause 10 (Representations and warranties), or in any document delivered by or on behalf of the Borrower under or in relation to the Agreement, is incorrect or misleading or proves to have been incorrect or misleading in any material respect when made or deemed to be made.
(e) Cross Default
(i) Subject to paragraph (iii), any Financial Indebtedness of the Borrower is not paid on its due date or, if applicable, within any grace period granted pursuant to the relevant documentation.
(ii) Subject to paragraph (iii), a creditor has cancelled or suspended its commitment towards the Borrower pursuant to any Financial Indebtedness, or has declared the Financial Indebtedness due and payable prior to its specified maturity, or requested prepayment in full of the Financial Indebtedness, in each case, as a result of an event of default or any provision having a similar effect (howsoever described) pursuant to the relevant documentation.
(iii) No Event of Default will occur under this Clause 13.1 (e) if the relevant amount of Financial Indebtedness or the commitment for Financial Indebtedness falling within paragraphs (i) and (ii) above is less than thirty millions Euros (EUR 30,000,000) (or its equivalent in any other currency(ies)).
(f) Unlawfulness
It is or becomes unlawful for the Borrower to perform any of its obligations under this Agreement.
Any obligation of the Borrower under this Agreement is not or ceases to be legal, valid, binding or enforceable and the cessation individually or cumulatively materially and adversely affects the interests of the Lender under this Agreement.
(g) Material adverse change
Any event (including a change in the political situation of the country of the Borrower) or any measure which is likely, according to the Lender’s opinion, to have a Material Adverse Effect occurs or is likely to occur.
(h) Withdrawal or suspension of the Project Any of the following occurs:
(i) the implementation of the Project is suspended or postponed for a period exceeding six (6) months; or
(ii) the Project has not been completed in full by the Deadline for Use of Funds; or
(iii) the Borrower withdraws from, or ceases to participate in, the Project.
(i) Authorisations
Any Authorisation required for the Borrower in order to perform or comply with its obligations under this Agreement or its other material obligations under any Project Documents or required in the ordinary course of the Project is not obtained within the required timeframe or is cancelled or becomes invalid or otherwise ceases to be in full force and effect.
(j) Judgments, rulings or decisions having a Material Adverse Effect
Any judgment or arbitral award or any judicial or administrative decision affecting the Borrower has or is reasonably likely, according to the opinion of the Lender, to have a Material Adverse Effect, occurs or is likely to occur.
(k) Suspension of free convertibility and free transfer
Free convertibility and free transfer of any of the amounts due by the Borrower under this Agreement, or any other facility provided by the Lender to the Borrower or any other borrower of the jurisdiction of the Borrower, is challenged.
Any foreign exchange law is amended, enacted or introduced or is reasonably to be amended, enacted or introduced in the Republic of Serbia that (in the opinion of the Lender): (i) has or is reasonably likely to have the effect of prohibiting, or restricting or delaying in any material respect any payment that the Borrower is required to make pursuant to the terms of this Agreement; or (ii) is materially prejudicial to the interests of the Lenders under or in connection with this Agreement.
13.2 Acceleration
On and at any time after the occurrence of an Event of Default, the Lender may, without providing any formal demand or commencing any judicial or extra-judicial proceedings, by written notice to the Borrower:
(a) cancel the Available Credit; and/or
(b) declare that all or part of the Facility, together with any accrued or outstanding interest and all other amounts outstanding under this Agreement, are immediately due and payable.
Without prejudice to the above, in the event that an Event of Default occurs as set out in Clause 13.1 (Events of Default), the Lender reserves the right to, upon written notice to the Borrower, (i) suspend or postpone any Drawdowns under the Facility; and/or (ii) suspend the finalisation of any agreements relating to other possible financial offers which have been notified by the Lender to the Borrower; and/or (iii)
suspend or postpone any drawdown under any loan agreement entered into between the Borrower and the Lender.
If any drawdowns are postponed or suspended by a Co-Financier under an agreement between such Co-Financier and the Borrower, the Lender reserves the right to postpone or suspend any Drawdowns under the Facility.
13.3 Notification of an Event of Default
In accordance with Clause 12.4 (Information), the Borrower shall promptly notify the Lender upon becoming aware of any event which is or is likely to be an Event of Default and inform the Lender of all the measures contemplated by the Borrower to remedy it.
14. ADMINISTRATION OF THE FACILITY
14.1 Payments
All payments received by the Lender under this Agreement shall be applied towards the payment of expenses, fees, interest, principal amounts or any other sum due under this Agreement in the following order:
1) incidental costs and expenses;
2) fees;
3) late-payment interest and default interest;
4) accrued interest;
5) principal repayments.
Any payments received from the Borrower shall be applied first in or towards payment of any sums due and payable under the Facility or under other loans extended by the Lender to the Borrower, should it be in the Lender’s interest to apply these sums to such other loans, in the order set out above.
14.2 Set-off
Without prior approval of the Borrower, the Lender may, at any time, set-off due and payable obligations owed by the Borrower against any amounts held by the Lender on behalf of the Borrower or any due and payable obligations owed by the Lender to the Borrower. If the obligations are in different currencies, the Lender may convert either obligation at the prevailing currency exchange rate for the purpose of the set-off.
All payments made by the Borrower under the Agreement shall be calculated and made without set-off. The Borrower is prohibited from making any set-off.
14.3 Business Days
Without prejudice to the calculation of the Interest Period which remains unchanged, if a payment is due on a day which is not a Business Day, the due date for that payment shall be the next Business Day if the next Business Day is in the same calendar month, or the preceding Business Day if the next Business Day is not in the same calendar month.
14.4 Currency of payment
The currency of each amount payable under this Agreement is Euros, except as provided in Clause 14.6 (Place of payment).
14.5 Day count convention
Any interest, fee or expense accruing under this Agreement will be calculated on the basis of the actual number of days elapsed and a year of three hundred and sixty (360) days in accordance with European interbank market practice.
14.6 Place of payment
(a) Any funds to be transferred by the Lender to the Borrower under the Facility will be paid to the bank account specifically designated for such purpose by the Borrower and mentioned in the Disbursement Notice submitted by the Co-Financier to the Lender, provided that the Lender has given its prior consent on the selected bank.
(b) Any payment to be made by the Borrower to the Lender shall be paid on the due date by no later than 11:00 am (Paris time) to the following bank account:
RIB Code: 00000 00000 00000040235 03
IBAN Code: XX00 0000 0000 0000 0000 0000 000
Banque de France SWIFT code (BIC): XXXXXXXXXXX
opened by the Lender at the Banque de France (head office/main branch) in Paris or any other account notified by the Lender to the Borrower.
(c) The Borrower shall request from the bank responsible for transferring any amounts to the Lender that it provides the following information in any wire transfer messages in a comprehensive manner and in the order set out below:
• Principal: name, address, bank account number
• Principal’s bank: name and address
• Reference: name of the Borrower, name of the Project, reference number of the Agreement
(d) All payments made by the Borrower shall comply with this Clause 14.6 (Place of payment) in order for the relevant payment obligation to be deemed discharged in full.
14.7 Payment Systems Disruption
If the Lender determines (in its discretion) that a Payment Systems Disruption Event has occurred or the Borrower notifies the Lender that a Payment Systems Disruption Event has occurred, the Lender:
(a) may, and shall if requested by the Borrower, enter into discussions with the Borrower with a view to agreeing any changes to the operation and administration of the Facility as the Lender may deem necessary in the circumstances;
(b) shall not be obliged to enter into discussions with the Borrower in relation to any of the changes mentioned in paragraph (a) above if, in its opinion, it is not practicable to do so in the circumstances
and, in any event, it has no obligation to agree to such changes; and
(c) shall not be liable for any cost, loss or liability arising as a result of its taking, or failing to take, any actions pursuant to this Clause 14.7 (Payment Systems Disruption ).
15. MISCELLANEOUS
15.1 Language
The language of this Agreement is English. If this Agreement is translated into another language, the English version shall prevail in the event of any conflicting interpretation or in the event of a dispute between the Parties.
All notices given or documents provided under, or in connection with, this Agreement shall be in English.
The Lender may request that a notice or document provided under, or in connection with, this Agreement which is not in English is accompanied by a certified English translation, in which case, the English translation shall prevail unless the document is a statutory document of a company, legal text or other official document.
15.2 Certifications and determinations
In any litigation or arbitration arising out of or in connection with this Agreement, entries made in the accounts maintained by the Lender are prima facie evidence of the matters to which they relate.
Any certification or determination by the Lender of a rate or amount under this Agreement will be, in the absence of manifest error, conclusive evidence of the matters to which it relates.
15.3 Partial invalidity
If, at any time, a term of this Agreement is or becomes illegal, invalid or unenforceable, neither the validity, legality or enforceability of the remaining provisions of this Agreement will in any way be affected or impaired.
15.4 No Waiver
Failure to exercise, or a delay in exercising, on the part of the Lender of any right under the Agreement shall not operate as a waiver of that right.
Partial exercise of any right shall not prevent any further exercise of such right or the exercise of any other right or remedy under the applicable law.
The rights and remedies of the Lender under this Agreement are cumulative and not exclusive of any rights and remedies under the applicable law.
15.5 Assignment
The Borrower may not assign or transfer, in any manner whatsoever, all or any of its rights and obligations under this Agreement without the prior written consent of the Lender.
The Lender may assign or transfer any of its rights or obligations under this Agreement to any other third party and may enter into any sub- participation agreement relating thereto.
15.6 Legal effect
The Schedules annexed hereto, the Procurement Guidelines and the recitals hereof form part of this Agreement and have the same legal effect.
15.7 Entire agreement
As of the Signing Date, this Agreement represents the entire agreement between the Parties in relation to the matters set out herein, and supersedes and replaces all previous documents, agreements or understandings which may have been exchanged or communicated as part of the negotiations in connection with this Agreement.
15.8 Amendments
No amendment may be made to this Agreement unless expressly agreed in writing between the Parties.
15.9 Confidentiality - Disclosure of information
(a) The Borrower shall not disclose the content of this Agreement to any third party without the prior consent of the Lender except to any person to whom the Borrower has a disclosure obligation under any applicable law, regulation or judicial ruling.
(b) Notwithstanding any existing confidentiality agreement, the Lender may disclose any information or documents in relation to the Project to: (i) its auditors, experts, rating agencies, legal advisers or supervisory bodies; (ii) any person or entity to whom the Lender may assign or transfer all or part of its rights or obligations under the Agreement;(iii) the Co-Financier; and any person or entity for the purpose of taking any protective measures or preserving the rights of the Lender under the Agreement.
(c) Furthermore, the Borrower hereby expressly authorizes the Lender to communicate and to disclose on the Lender’s Website information relating to the Project and its financing as listed in Schedule 6 (Information that and the Lender is authorized expressly to disclose on the Lender’s Website (in particular on its open data platform).
15.10 Limitation
The statute of limitations of any claims under this this Agreement shall be ten (10) years, except for any claim of interest due under this Agreement.
15.11 Hardship
Each Party hereby acknowledges that the provisions of article 1195 of the French Code civil shall not apply to it with respect to its obligations under the Agreement and it shall be not entitled to make any claim under article 1195 of the French Code civil.
16. NOTICES
16.1 In writing and addresses
Any notice, request or other communication to be given or made under or in connection with this Agreement shall be given or made in writing and, unless
otherwise stated, may be given or made by fax or by letter sent by the post office to the address and number of the relevant Party set out below:
For the Borrower:
MINISTRY OF FINANCE
Address: 00 Xxxxx Xxxxxx Xx. 11000 Belgrade Telephone: (000-00) 0000-000
Facsimile: (000-00) 0000-000 E-mail: xxxxxxx@xxxx.xxx.xx
Attention: Mr. Xxxxxx Xxxx, Minister of Finance For the Lender:
AFD – WESTERN BALKANS REGIONAL OFFICE
Address: Xxxx Xxxxxx 00, 00000 Xxxxxxxx, Xxxxxxxx xx Xxxxxx Telephone: (000-00) 0000-000
Attention: Head of Western Balkans Regional Office With a copy to:
AFD – PARIS HEAD OFFICE
Address: 0, xxx Xxxxxx Xxxxxxx – 00000 Xxxxx Xxxxx 00, Xxxxxx Telephone: + 00 0 00 00 00 00
Attention: Head of Europe, Middle East and Asia Department
or such other address, fax number, department or officer as one Party notifies to the other Party.
16.2 Delivery
Any notice, request or communication made or any document sent by a Party to the other Party in connection with this Agreement will only be effective:
(a) if by fax, when received in a legible form; and
(b) if by letter sent though the post office, when delivered to the correct address,
and, where a particular person or a department is specified as part of the address details provided under Clause 16.1 (In writing and addresses), if such notice, request or communication has been addressed to that person or department.
16.3 Electronic communications
(a) Any communication made by one person to another under or in connection with this Agreement may be made by electronic mail or other electronic means if the Parties:
(i) agree that, unless and until notified to the contrary, this is to be an accepted form of communication;
(ii) (notify each other in writing of their electronic mail address and/or any other information required to enable the sending and receipt of information by that means; and
(iii) notify each other of any change to their address or any other such information supplied by them.
(b) Any electronic communication made between the Parties will be effective only when actually received in a readable form.
17. GOVERNING LAW, ENFORCEMENT AND CHOICE OF DOMICILE
17.1 Governing Law
This Agreement is governed by French law.
17.2 Arbitration
Any dispute arising out of or in connection with this Agreement shall be referred to and finally settled by arbitration under the Rules of Conciliation and Arbitration of the International Chamber of Commerce applicable on the date of commencement of arbitration proceedings, by one or more arbitrators to be appointed in accordance with such Rules.
The seat of arbitration shall be Paris and the language of arbitration shall be English.
This arbitration clause shall remain in full force and effect if this Agreement is declared void or is terminated or cancelled and following expiry of this Agreement. The Parties’ contractual obligations under this Agreement are not suspended if a Party initiates legal proceedings against the other Party.
The Parties expressly agree that, by signing this Agreement, the Borrower irrevocably waives all rights of immunity in respect of jurisdiction or execution on which it could otherwise rely.
For the avoidance of doubt, this waiver includes a waiver of immunity from:
(i) Any suit or legal, judicial or arbitral process arising out of, in relation to or in connection with this Agreement;
(ii) Giving of any relief by way of injunction or order for specific performance or for the recovery of assets or revenues;
(iii) Any effort to confirm, recognize, enforce or execute any decision, settlement, award judgment, execution order or, in an action in rem, any effort for the arrest, for the arrest, detention or sale of any of its assets and revenues that result from any arbitration, or any legal, judicial or administrative proceedings.
The Borrower does not waive any immunity in respect of any present or future (i) “premises of the mission” as defined in the Vienna Convention on Diplomatic Relations signed in 1961, (ii) “consular premises” as defined in the Vienna Convention on Consular Relations signed in 1963,
(iii) assets that cannot be in commerce, (iv) military property or military assets and buildings, weapons and equipment designated for defence, state and public security, (v) receivables the assignment of which is restricted by law, (vi) natural resources, common use items, grids in public ownership, river basin land and water facilities in public ownership, protected natural heritage in public ownership and cultural heritage in public ownership, (vii) real estate in public ownership which is, partly or entirely, used by the authorities of the Republic of Serbia, autonomous provinces or local self-government for the purpose of exercising their rights and duties; (viii) the state's, autonomous
province’s or local government’s stocks and shares in companies and public enterprises, unless the relevant entity consented to the establishment of a pledge over such stocks or shares, (ix) movable or immovable assets of health institutions, unless a mortgage was established based on the government's decision, (x) monetary assets and financial instruments determined as financial collateral in accordance with the law regulating financial collateral including monetary assets and financial instruments which are pledged in accordance with such law or (xi) other assets exempt from enforcement by international law or international treaties
17.3 Service of process
Without prejudice to any applicable law, for the purposes of serving judicial and extrajudicial documents in connection with any action or proceedings referred to above, the Borrower irrevocably chooses its registered office as at the date of this Agreement at the address set out in Clause 16 (Notices) for service of process, and the Lender chooses the address “AFD – PARIS HEAD OFFICE” set out in Clause 16 (Notices) for service of process.
18. DURATION
This Agreement comes into force on the Effective Date and remains in full force and effect for as long as any amount is outstanding under this Agreement.
Notwithstanding the above, the obligations under Clauses 12.4(e) (Information - miscellaneous) and 15.9 (Confidentiality - Disclosure of information) shall survive and remain in full force and effect for a period of five years after the last Payment Date; the provisions of Clause 11.6.2 (Environmental and social (ES) complaints-management) shall continue to have effect whilst any grievance lodged under the ES Complaints-Management Mechanism’s Rules of Procedure is still being processed or monitored.
Executed in three (3) originals, one (1) for the Lender and two (2) for the Borrower, in Belgrade (Republic of Serbia), on December 5, 2022.
BORROWER |
REPUBLIC OF SERBIA Represented by: Name: Mr. Xxxxxx Xxxx Xxxxxxxx: Minister of Finance |
LENDER |
AGENCE FRANÇAISE DE DÉVELOPPEMENT Represented by: Name: Mr. Xxxxxxxxx Xxxxxxxxxx Xxxxxxxx: Director for the Western Balkans Regional Office Cosigner, His Excellency Mr. Xxxxxx Xxxxxxx, Ambassador of France |
SCHEDULE 1A - DEFINITIONS
Act of Corruption | means any of the following: (a) the act of promising, offering or giving, directly or indirectly, to a Public Official or to any person who directs or works, in any capacity, for a private sector entity, an undue advantage of any nature, for the relevant person himself or herself or for another person or entity, in order that this person acts or refrains from acting in breach of his or her legal, contractual or professional obligations and, having for effect to influence his or her own actions or those of another person or entity; or (b) the act of a Public Official or any person who directs or works, in any capacity, for a private sector entity, soliciting or accepting, directly or indirectly, an undue advantage of any nature, for the relevant person himself or herself or for another person or entity, in order that this person acts or refrains from acting in breach of his or her legal, contractual or professional obligations and, having for effect to influence his or her own actions or those of another person or entity. |
has the meaning given to it in Clause 3.4 (Disbursement Methods). | |
AFD’s Covenant of Integrity | Means the statement, to be signed by each of the Contractors, as provided in Schedule 7 (AFD’s Covenant of Integrity), and the content of which can be updated from time to time by the Lender. |
Agreement | means this credit facility agreement, including its recitals, Schedules and, if applicable, any amendments made in writing thereto. |
Anti-Competitive Practices | means: (a) any concerted or implicit action having as its object and/or as its effects to impede, restrict or distort fair competition in a market, including without limitation when it tends to: (i) limit market access or the free exercise of competition by other companies; (ii) prevent price setting by the free play of markets by artificially favouring the increase or decrease of such prices; (iii) limit or control any production, markets, investment or technical progress; or (iv) share out markets or sources of supply; (b) any abuse by a company or group of companies of a dominant position within a domestic market or in a substantial part thereof; or (c) any bid or predatory pricing having as its object |
and/or its effect to eliminate from a market, or to prevent a company or one of its products from accessing the market. | |
Applicable Procurement Guidelines | means those procurement policies, guidelines and procedures referred to in the IBRD Loan Agreement. |
Authorisation(s) | means any authorisation, consent, approval, resolution, permit, licence, exemption, filing, notarisation or registration, or any exemptions in respect thereof, obtained from or provided by an Authority, whether granted by means of an act, or deemed granted if no answer is received within a defined time limit, as well as any approval and consent given by the Borrower’s creditors. |
Authority(ies) | means any government or statutory entity, department or commission exercising a public prerogative, or any administration, court, agency or State or any governmental, administrative, tax or judicial entity. |
Availability Period | means the period from and including the Signing Date up to the Deadline for Drawdown. |
Available Credit | means, at any given time, the maximum principal amount specified in Clause 2.1 (Facility) less: (i) the aggregate amount of any Drawdowns drawn by the Borrower; (ii) the amount of any Drawdown to be made pursuant to any pending Drawdown Request; and (iii) any portion of the Facility which has been cancelled pursuant to Clauses 8.3 (Cancellation by the Borrower) and/or 8.4 (Cancellation by the Lender). |
Business Day | means a day (other than Saturday or Sunday) on which banks are open for the entire day for general business in Paris, and which is a TARGET Day in the event that a Drawdown has to be done on such day. |
Certified | means for any copy, photocopy or other duplicate of an original document, the certification by any duly authorised person, as to the conformity of the copy, photocopy or duplicate with the original document. |
Co-Financier | means the International Bank for Reconstruction and Development (IBRD). |
Co-Financing | means the loan provided by the Co-Financier with a maximum amount of eighty-eight million and four hundred thousand Euros (EUR 88,400,000) to finance in part the Project. |
Co-Financing | means the agreement to be entered into between the Lender and the Co-Financier, providing terms and |
Agreement | conditions under which, among others, the Lender and the Co-Financier shall co-finance the Project and a number of monitoring works that the Lender delegates to the Co-Financier with respect to the Facility and the Project implementation. |
Contractor(s) | means third party contractor(s) in charge of implementing all or part of the Project pursuant to Project Documents. |
Deadline for Drawdown | means November 30th, 2028, date after which no further Drawdown may occur. |
Deadline for Use of Funds | means November 30th, 2028. |
Disbursement and Financial Information Letter or DFIL | means the Disbursement and Financial Information Letter to be issued by the Co-Financier to the Borrower (after prior consultation with the Lender) providing instructions with respect to drawdowns (disbursements) under the Facility and the Co-Financier Loan Agreement between the Borrower and the Co-Financier, in accordance with the Co-Financing Agreement, as such DFIL may be amended from time to time. |
Drawdown | means a drawdown of all or part of the Facility made, or to be made, available by the Lender to the Borrower pursuant to the terms and conditions set out in Clause 3 (Drawdown of Funds) or the principal amount outstanding of such Drawdown which remains due and payable at a given time including any Advance. |
Drawdown Date | means the date on which a Drawdown is made available by the Lender. |
Drawdown Period | means the period starting on the first Drawdown Date up to and including the first of the following date: (i) the date on which the Available Credit is equal to zero ; (ii) the Deadline for Drawdown. |
Drawdown Request | means a request substantially in the form set out in Schedule 5A (Form of Drawdown Request). |
Disbursement Notice | means the notice sent by the Co-Financier to the Lender advising the Lender to make available to the Borrower the requested Drawdown, in accordance with the Co- Financing Agreement. |
Effective Date | means the date on which the conditions set out in Part II of Schedule 4 have been fulfilled and shall occur at the latest 180 calendar days after the Signing Date. |
Eligible Expense(s) | means the expense(s) relating to the components of the |
Project as set out in Schedule 3 (Financing Plan). | |
Embargo | means any sanction of a commercial nature aiming at prohibiting any import and/or export (supply, sale or transfer) of one or several goods, products or services going to and/or coming from a country for a given period as published and amended from time to time by the United Nations, the European Union or France. |
ES Complaints- Management Mechanism’s Rules of Procedure | means the contractual terms contained in the Environmental and Social Complaints-Management Mechanism’s Rules of Procedure, which is available on the Website, as amended from time to time. |
ESCP | means the environmental and social commitment plan referred to in the IBRD Loan Agreement, setting out the Beneficiary’s commitment to avoid, mitigate or compensate negative consequences of the Project, on human and natural environment and any planned monitoring, as well as the formal steps required in order to carry out such actions. |
EURIBOR | means the inter-bank rate applicable to Euro for any deposits denominated in Euro for a period comparable to the relevant period, as determined by the European Money Markets Institute (EMMI), or any successor administrator, at 11:00 am Brussels time, two (2) Business Days before the first day of the Interest Period. |
Euro(s) or EUR | means the single currency of the member states of the European Economic and Monetary Union, including France, and having legal tender in such Member States. |
Event of Default | means any event or circumstance set out in Clause 13.1 (Events of Default). |
Facility | means the credit facility made available by the Lender to the Borrower in accordance with this Agreement up to the maximum principal amount set out in Clause 2.1 (Facility). |
Financial Indebtedness | means any financial indebtedness for and in respect of: (a) any monies borrowed on a short, medium or long-term basis; (b) any amounts raised pursuant to the issue of bonds, notes, debentures, loan stock or any similar instruments; (c) any funds raised under any other transaction (including any forward sale or purchase agreement) having the commercial effect of a borrowing; (d) any potential payment obligation that results from a guarantee, bond, or any other instrument. |
Financial Sanctions List | means the list(s) of persons, groups or entities which are subject to financial sanctions by the United Nations, the European Union and/or France. For information purposes only and for the convenience of the Borrower, who may rely on, the following references or website addresses: For the lists maintained by the United Nations, the following website may be consulted: xxxxx://xxx.xx.xxx/xxxxxxxxxxxxxxx/xx/xxxxxxx/xx-xx- consolidated-list For the lists maintained by the European Union, the following website may be consulted: xxxxx://xxxx.xxxxxx.xx/xxxxxxxxxxxx/xxxxxxxxxxxx- homepage/8442/consolidated-list-sanctions_fr For the lists maintained by France, the following website may be consulted: xxxxx://xxx.xxxxxx.xxxxxxxx.xxxx.xx/xxxxxxxx-xxx- entreprises/sanctions-economiques/dispositif-national- de-gel-des-avoirs |
Financing Plan | means the financing plan of the Project set out in Schedule 3 (Financing Plan). |
Fixed Reference Rate | means three point fifty-five per cent (3.55 %) per annum. |
Framework Agreement | means the agreement to be entered into between the Borrower, through MCTI, and a Participating LSG pursuant to Schedule 2, Section I(C)(1) of IBRD Loan Agreement. |
Fraud | means any unfair practice (acts or omissions) deliberately intended to mislead others, to intentionally conceal elements there from, or to betray or vitiate his/her consent, to circumvent any legal or regulatory requirements and/or to violate internal rules and procedures of the Borrower or a third party in order to obtain an illegitimate benefit. |
Fraud against the Financial Interests of the European Community | means any intentional act or omission intended to damage the European Union budget and involving (i) the use or presentation of false, inaccurate or incomplete statements or documents, which has as effect the misappropriation or wrongful retention of funds or any illegal reduction in resources of the general budget of the European Union; (ii) the non-disclosure of information with the same effect; and (iii) misappropriation of such funds for purposes other than those for which such funds were originally granted. |
Grace Period | means the period from the Signing Date up to and |
including the date falling seventy-two (72) months after such date, during which no principal repayment under the Facility is due and payable. | |
Grant Agreement | refers to an agreement entered into between the Borrower, through MCTI, and a Participating LSG, as referred to in Schedule 2, Section I(C)(2) of IBRD Loan Agreement, through which the Borrower will disburse a grant for the Participating LSG to improve public financial management and transport infrastructure at the local level. |
IBRD | means International Bank for Reconstruction and Development. |
IBRD Loan Agreement | means the agreement and all the related financing documentations to be entered into between IBRD (the Co-Financier) and the Borrower providing terms and conditions under which the IBRD loan will be made available to the Borrower. |
Illicit Origin | means funds obtained through: (a) the commission of any predicate offence as designated in the FATF 40 recommendations Glossary under "Designated categories of offences" (xxxx://xxx.xxxx- xxxx.xxx/xxxxx/xxxx/xxxxxxxxx/xxxxxxxxxxxxxxx/Xx commandations_GAFI.pdf); (b) any Act of Corruption; or (c) any Fraud against the Financial Interests of the European Community, if or when applicable. |
Index Rate | means the TEC 10 daily index, the ten-year constant maturity rate displayed on a daily basis on the relevant quotation page of the Reference Financial Institution or any other index which may replace the TEC 10 daily index. On the Signing Date, the Index Rate on November 22, 2022 is two point forty-seven percent (2.47 %) per annum. |
Interest Period(s) | means each period from a Payment Date (exclusive) up to the next Payment Date (inclusive). For each Drawdown under the Facility, the first interest period shall start on the Drawdown Date (exclusive) and end on the next successive Payment Date (inclusive). |
Interest Rate | means the interest rate expressed as a percentage and determined in accordance with Clause 4.1 (Interest Rate). |
LSGs | means Local Self Governments, in accordance with the Law on Local Self Government published on Official Gazette of RS No. 129/2007, 83/2014 - other law, 101/2016 - other law, 47/2018 and 111/2021 - other law. |
Margin | means eighty-seven (87) basis points per annum. |
Market Disruption Event | means the occurrence of one of the following events: (i) EURIBOR is not determined by the European Money Markets Institute (EMMI), or any successor administrator, at 11:00am Brussels time, two (2) Business Days before the first day of the relevant Interest Period or on the Rate Setting Date; or (ii) before close of business of the European interbank market, two (2) Business Days prior to the first day of the relevant Interest Period or on the Rate Setting Date, the Borrower receives notification from the Lender that (i) the cost to the Lender of obtaining matching resources in the relevant interbank market would be in excess of EURIBOR for the relevant Interest Period; or (ii) it cannot or will not be able to obtain matching resources on the relevant interbank market in the ordinary course of business to fund the relevant Drawdown for the relevant time period. |
Material Adverse Effect | means a material and adverse effect on: (a) the Project, insofar as it would jeopardise the implementation and operation of the Project in accordance with this Agreement and the Project Documents; (b) the business, assets, financial condition of the Borrower or its ability to perform its obligations under this Agreement and the Project Documents; (c) the validity or enforceability of this Agreement and any Project Documents; or (d) any right or remedy of the Lender under this Agreement. |
National Bank of Serbia or NBS | Means the central bank of the Republic of Serbia. |
Outstanding Principal | means, in respect of any Drawdown, the outstanding principal amount due in respect of such Drawdown, corresponding to the amount of the Drawdown paid by the Lender to the Borrower less the aggregate of instalments of principal repaid by the Borrower to the Lender in respect of such Drawdown. |
Participating LSG | means any LSG to benefit from investments under any part of the Project, in accordance with the criteria set forth in the POGM; and “Participating LSGs” means more than one Participating LSG. |
Payment Dates | means June 15 and December 15 of each year. |
Payment Systems Disruption Event | means either or both of: (a) a material disruption to the payment or communication systems or to the financial markets which are, in each case, required to operate in order for payments to be made in connection with the Facility (or otherwise in order for the transactions contemplated by this Agreement to be carried out), provided that the disruption is not caused by, and is beyond the control of, any of the Parties; or (b) the occurrence of any other event which results in a disruption (of a technical or system-related nature) to the treasury or payment operations of a Party preventing that, or any other Party: (i) from performing its payment obligations under this Agreement; or (ii) from communicating with the other Parties in accordance with the terms of this Agreement and which (in either case) is not caused by, and is beyond the control of, either Party. |
Prepayment Compensatory Indemnity | means the indemnity calculated by applying the following percentage to the amount of the Facility which is repaid in advance: - if the repayment occurs prior to the 6th anniversary (exclusive) of the Signing Date: two percent (2%); - if the repayment occurs between the 6th anniversary (inclusive) and the 8th anniversary (exclusive) of the Signing Date: one point five percent (1.5%); - if the repayment occurs between the 8th anniversary (inclusive) and the 10th anniversary (exclusive) of the Signing Date: one percent (1%); - if the repayment occurs after the 10th anniversary (inclusive) of the Signing Date: zero point five percent (0.5%). |
Project | means the project as described in Schedule 2 (Project Description). |
Designated Account | has the meaning given to that term in Clause 3.4.3. |
Project Authorisations | means the Authorisations necessary in order for (i) the Borrower to implement the Project and execute all Project Documents to which it is a party, and to exercise its rights and perform its obligations under the Project Documents to which it is a party; and (ii) the Project Documents to which the Borrower is a party, to be admissible as evidence before courts in the jurisdiction of the Borrower or before a competent arbitral tribunal. |
Project Documents | means all documents, and in particular agreements, delivered or executed by the Borrower in relation to the implementation of the Project, i.e.: • the Project Operations and Grant Manual; • the Framework Agreement; • the Grants Agreements. |
Project Operations and Grant Manual or POGM | has the meaning given to it under the IBRD Loan Agreement. |
Public Official | means any holder of legislative, executive, administrative or judicial office whether appointed or elected, serving on permanent basis or otherwise, paid or unpaid, regardless of rank, or any other person defined as a public official under the domestic law of the Borrower’s jurisdiction of incorporation, and any other person exercising a public function, including for a public agency or organisation, or providing a public service. |
RAMS | means Road Asset Management System and refers to a user-friendly tool that allows Participating LSGs to enhance their local roads management capabilities. |
Rate Conversion | means the conversion of the floating rate applicable to all or part of the Facility into a fixed rate pursuant to Clause 4.1 (Interest Rate). |
Rate Conversion Request | means a request substantially in the form attached as Schedule 5C (Form of Rate Conversion Request). |
Rate Setting Date | means: I - in relation to any Interest Period for which an Interest Rate is to be determined: (i) the first Wednesday (or, if that date is not a Business Day, the immediately following Business Day) following the date of receipt by the Lender of the Drawdown Request, provided that the Drawdown Request is received by the Lender at least two (2) full Business Days prior to said Wednesday; (ii) the second Wednesday (or, if that date is not a Business Day, the immediately following Business Day) following the date of receipt by the Lender of the Drawdown Request, if the Drawdown Request was not received by the Lender at least two (2) full Business Days prior to the first Wednesday specified in paragraph (a) above. II - in the case of a Rate Conversion: (i) the first Wednesday (or, if that date is not a Business Day, the immediately following Business Day) following the date of receipt by |
the Lender of the Rate Conversion Request, provided such date is at least two (2) full Business Days prior to the first Wednesday; (ii) the second Wednesday (or, if that date is not a Business Day, the immediately following Business Day) following the date of receipt by the Lender of the Rate Conversion Request, if such date is not at least two (2) full Business Days prior to the first Wednesday. | |
Reference Financial Institution | means a financial institution chosen as a suitable reference financial institution by the Lender and which regularly publishes quotations of financial instruments on one of the international financial information networks according to the practices recognised by the banking industry. |
Schedule(s) | means any schedule or schedules to this Agreement. |
Signing Date | means the date of execution of this Agreement by all the Parties. |
SUMP | means Sustainable Urban Mobility Plans and refers to local sectoral plans to be developed by Participating LSGs and monitored by the Borrower, through MCTI. |
TARGET Day | means a day on which the Trans European Automated Real Time Gross Settlement Express Transfer 2 (TARGET2) system, or any successor thereto, is open for payment settlement in Euros. |
Tax(es) | means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with a failure to pay or any delay in the payment of any such amounts). |
Visibility and Communication Guide | means all contractual provisions binding on the Borrower relating to the communication and visibility of projects financed by AFD and contained in the document entitled "Visibility guide for projects supported by AFD - Level 1" or "Communication guide for projects supported by AFD - Level 2" as the case may be, a copy of which has been given to the Borrower before the signing. |
Website | means the website of AFD (xxxx://xxx.xxx.xx/) or any other such replacement website. |
Withholding Tax | means any deduction or retention in respect of a Tax on any payment made under or in connection with this Agreement. |
Withdrawal Application | has the meaning given to it under the IBRD Loan Agreement. |
SCHEDULE 1B - CONSTRUCTION
(a) “assets” includes present and future properties, revenues and rights of every description;
(b) any reference to the “Borrower”, a “Party” or a “Lender” includes its successors in title, permitted assigns and permitted transferees;
(c) any reference to a financing document or other document is a reference to this Agreement or to such other document as amended, restated or supplemented and includes, if applicable, any document which replaces it through novation, in accordance with the financing documents;
(d) a “guarantee” includes any cautionnement, aval and any garantie which is independent from the debt to which it relates;
(e) “indebtedness” means any obligation of any person whatsoever (whether incurred as principal or as surety) for the payment or repayment of money, whether present, future, actual or contingent;
(f) a “person” includes any person, company, corporation, partnership, trust, government, state or state agency or any association, or group of two or more of the foregoing (whether or not having separate legal personality);
(g) a “regulation” includes any legislation, regulation, rule, decree, official directive, instruction, request, advice, recommendation, decision or guideline (whether or not having the force of law) of any governmental, intergovernmental or supranational body, supervisory authority, regulatory authority, independent administrative authority, agency, department or any division of any other authority or organisation (including any regulation issued by an industrial or commercial public entity) having an effect on this Agreement or on the rights and obligations of a Party;
(h) a provision of law is a reference to that provision as amended;
(i) unless otherwise provided, a time of day is a reference to Paris time;
(j) The Section, Clause and Schedule headings are for ease of reference only and do not affect the interpretation of this Agreement;
(k) unless otherwise provided, words and expressions used in any other document relating to this Agreement or in any notice given in connection with this Agreement have the same meaning in that document or notice as in this Agreement;
(l) an Event of Default is “continuing” if it has not been remedied or if the Lender has not waived any of its rights relating thereto;
(m) a reference to a Clause or Schedule shall be a reference to a Clause or Schedule of this Agreement; and
(n) words importing the plural shall include the singular and vice-versa.
SCHEDULE 2 - PROJECT DESCRIPTION
The objective of the Project is to improve Local Self Governments (“LSGs”) capacity to manage sustainable infrastructure and increase accessibility to economic and social opportunities in a climate aware manner.
The Project consists of the following parts:
Part 1. Climate Smart Mobility
1.1 Improve transport and associated infrastructure by, inter alia: (a) providing Grants to Participating LSGs to finance projects in local transport infrastructure rehabilitation and reconstruction and minor greenfield investments (“Sub-projects”); and (b) providing technical assistance for the preparation of documents related to the Sub-projects, including related to (i) design and supervision, (ii) environmental and social safeguard documents;
(iii) independent technical audit, and (iv) road safety audit.
1.2 Strengthen Participating LSGs’ capacity to manage local roads by inter alia:
(a) developing a local roads management framework, which may include institutional arrangements and standards with regard to maintenance contracts, resilience and road safety (including children’s safety); (b) developing a simplified RAMS for maintenance and rehabilitation planning and supporting selected data collection needs; (c) developing gender-aware SUMPs and provision of Trainings to Participating LSG’s staff on SUMPs implementation; and (d) designing a smart mobility research center and piloting up to five (5) smart solutions through digital technologies.
Part 2. Strengthening capacity for Infrastructure Service Delivery
2.1 Improve selected Participating LSGs’ strategic participatory planning and investment preparation capacities by, inter alia: (a) improving planning at the local level including through reviewing current planning and strategic frameworks and developing planning documents; (b) linking improved local planning to budgeting processes; (c) introducing innovative approaches to participatory planning; (d) enhancing the eGovernment portal to mainstream the participatory approach; and (e) providing technical assistance on the identification and preparation of urban development and municipal infrastructure projects.
2.2 Improve Participating LSGs’ infrastructure service delivery and promote sustainability by, inter alia: (a) assessing the current local infrastructure financing framework; (b) providing technical assistance and Trainings to enhance their access to finance capabilities; (c) reviewing current institutions’ structures and providing recommendations for consolidated approaches and process simplification to enable existing staff to work efficiently and meet national and local requirements; (d) developing public investment management system database and project management tools; (e) designing and implementing an Internship Program; (f) developing prioritized approaches to staff expansion and Training and building staff capacity in green procurement, public financial management and public investment management, contract management, and social and environmental management; and (g) facilitating inter LSG cooperation and knowledge exchange.
Part 3. Project Management and Awareness Raising
Support to the Borrower in the areas of Project management, coordination, supervision, financial management, reporting, communication and outreach, awareness raising, monitoring and evaluation, procurement, environmental and social safeguards, and supervision of implementation of the ESCP and establishing of online supervision platform and web page for the Project.
Amount (EUR million) | |
Component 1. Climate Smart Mobility | 249.28 |
Component 2. Strengthening Capacity for Infrastructure Service Delivery | 10.17 |
Component 3: Project Management and Awareness Raising | 5.75 |
TOTAL | 265.2 |
SCHEDULE 3 - FINANCING PLAN PART I - FINANCING PLAN
PART II - ELIGIBLE EXPENSES
Category | Amount of the Facility Allocated (expressed in EUR) | Percentage of expenditures to be financed (inclusive of Taxes other than Value Added Tax and Customs Duties for works, goods and non-consulting services) |
(1) Goods, works, non- consulting services, consulting services, training and operating Costs for the Project | 17,100,000 | 67% of Project Expenditures. |
(2) Grants | 159,700,000 | 67% of Project Expenditures. |
TOTAL AMOUNT | 176,800,000 | 100% |
For the purpose of this table:
(a) the custom duties and value added tax for the importation and supply of works, goods and non-consulting services, within the Borrower’s territory and for the purpose of the implementation of the Project, shall not be financed out of Facility proceeds. The Borrower confirms that the importation and supply of works, goods and non-consulting services, within the Borrower’s territory and for the purpose of the implementation of the Project, shall be exempted from customs duties and value added tax;
(b) the term “Project Expenditures” means the Eligible Expenses to be jointly financed by the Facility and by the Co-financing to
cover the total cost of Project activities, which is estimated to be the equivalent of two hundred and sixty-five million and two hundred thousand Euros (EUR 265,200,000); and
(c) the 67% “Percentage of expenditures to be financed” by the Facility out of the total cost of Project activities will be the applied financing rate of the Lender under expenditures relevant to Category (1) and (2) Eligible Expenses set forth in the table, expect for the last Drawdown which amount may not exceed the Available Credit.
PART III - NON-ELIGIBLE EXPENSES
Front-end fees are not eligible.
SCHEDULE 4 - CONDITIONS PRECEDENT
The following applies to all documents delivered by the Borrower as a condition precedent:
- if the document which is delivered is not an original but a photocopy, the original Certified photocopy shall be delivered to the Lender;
- the final version of a document which draft was previously sent to, and agreed upon by the Lender, shall not materially differ from the agreed draft;
- documents not previously sent and agreed upon, shall be satisfactory to the Lender.
Part I – Conditions Precedent to be satisfied on the Signing Date
(a) Delivery by the Borrower to the Lender of a Certified copy of a conclusion of the Government of the Republic of Serbia approving the report from the negotiations with regard to conclusion of this Agreement, approving the borrowing by the Borrower under this Agreement and expressly authorizing Minister of Finance of the Republic of Serbia to execute this Agreement;
(b) A certificate of the Borrower (signed by authorized signatory) confirming that
(i) borrowing the total Facility commitments would not cause any borrowing, guaranteeing or similar limit binding on the Borrower to be exceeded, and (ii) that the public debt loan under this Agreement is within the limits set by the law governing the budget of the Republic of Serbia;
(c) Confirmation from the Co-Financier to the Lender that its Board of Directors has approved the IBRD loan.
Part II - Conditions Precedent to the effectiveness of the Agreement
(a) This Agreement has been duly signed by the Lender and the Borrower;
(b) Delivery by the Borrower to the Lender of the following documents:
(i) An original of the legal opinion from the Minister of Justice customary for this type of transaction in form and content satisfactory to the Lender with certified copies (each with an official translation into the language of this Agreement) of all documents to which such legal opinion refers, demonstrating that the Agreement is legally effective and enforceable and, in particular: (i) that the Borrower has met all requirements under its constitutional law and other applicable legal provisions for the valid assumption of all its obligations under this Agreement, (ii) that no official authorisations, consents, licenses, registrations and/or approvals of any governmental authority or agency (including the National Bank of Republic of Serbia) are required or advisable in connection with the execution and performance of this Agreement by the Borrower (including without limitation that all amounts due by the Borrower to the Lender under this Agreement whether as principal or interest, late payment interest, Prepayment Indemnity, incidental costs and expenses or any other sum are freely convertible and transferable), (iii) that choice of French law to govern this Agreement and the submission to arbitration are valid and binding, as well as that arbitration awards against the Borrower will be recognized and enforceable in the Republic of Serbia, and (iv) that neither the Borrower nor any of its property has any right of immunity from arbitration, suit, execution or other legal process;
(ii) Evidence of the enactment by the National Assembly of the Republic of Serbia of the law ratifying this Agreement (together with evidence of such
xxx being promulgated by the President of the Republic of Serbia) and published in the Official Gazette of the Republic of Serbia;
(iii) Confirmation of the Ministry of Finance of the Republic of Serbia that this Agreement has been duly evidenced therewith.
(c) Signature of the IBRD Loan Agreement.
Part III - Conditions Precedent to the First Drawdown
(i) This Agreement has become effective upon the satisfaction of the conditions stipulated in the PART II of this Schedule 4 of the Agreement;
(ii) Confirmation that the IBRD Loan Agreement has become effective and that the conditions precedent to the first disbursement in respect of such loan have been fulfilled;
(iii) A copy of the government conclusion appointing and authorising persons to sign the Drawdown Requests and a certificate of specimen of the signature of each person listed in this conclusion;
(iv) The Co-Financing Agreement between the Lender and the Co- Financier has been executed;
(v) Payment by the Borrower to the Lender of all fees and expenses due and payable under this Agreement;
(vi) In Case of Advance, a certificate of the National Bank of Serbia certifying that the Designated Account has been opened in the name of the Project and providing account details for such Designated Account.
Part IV - Conditions Precedent for All Drawdowns including the First Drawdown
Reception by the Lender from the Co-Financier of the Disbursement Notice related to the Drawdown requested.
SCHEDULE 5A - FORM OF DRAWDOWN REQUEST
[on the Borrower’s letterhead]
To: AGENCE FRANÇAISE DE DÉVELOPPEMENT
On: [date]
Borrower’s Name – Credit Facility Agreement n° [●] dated [●] Drawdown Request n°[●]
Dear Sirs,
1. We refer to the Credit Facility Agreement n° [●] entered into between the Borrower and the Lender dated [●] (the “Agreement”). Capitalised words and expressions used but not defined herein have the meanings given to them in the Agreement.
2. This letter is a Drawdown Request.
3. We irrevocably request that the Lender makes a Drawdown available on the following terms:
Amount: EUR [●] or, if less, the Available Credit. Interest Rate: [fixed / floating]
Disbursement method(s): [Reimbursement and/or Direct Payment and/or Advance] Proposed Drawdown Date: [optional]
4. The Interest Rate will be determined in accordance with the provisions of Clause 4 (Interest) and Clause 5 (Change to the calculation of interest) of the Agreement. The Interest Rate applicable to the requested Drawdown will be provided to us in writing and we accept this Interest Rate [(subject to the paragraph below, if applicable)], including when the Interest Rate is determined by reference to a Replacement Benchmark plus any Adjustment Margin as notified by the Lender following the occurrence of a Screen Rate Replacement Event.
5. We confirm that each condition specified in Clause 2.4 (Conditions precedent) is satisfied on the date of this Drawdown Request and that no Event of Default is continuing or is likely to occur. We agree to notify the Lender immediately if any of the conditions referred to above is not satisfied on or before the Drawdown Date.
6. The proceeds of this Drawdown should be credited to the following bank account:
(a) Name [of the Borrower]: | [●] |
(b) Address [of the Borrower]: | [●] |
(c) IBAN Account Number: | [●] |
(d) SWIFT Number: | [●] |
(e) Bank and bank’s address [of the Borrower]: | [●] |
(f) [if applicable] correspondent bank and account number of the Borrower’s bank: | [●] |
7. This Drawdown Request is irrevocable.
8. We have attached to this Drawdown Request all relevant supporting documents specified in Clause 2.4 (Conditions precedent) of the Agreement:
[List of supporting documents] Yours sincerely,
.........................................................
Authorised signatory of Borrower
SCHEDULE 5B - FORM OF CONFIRMATION OF DRAWDOWN AND RATE
[on Agence Française de Développement letterhead]
To: [the Borrower] Date: [●]
Ref: Drawdown Request n° [●] dated [●]
Borrower’s Name – Credit Facility Agreement n°[●] dated [●] Drawdown Confirmation n°[●]
Dear Sirs,
1. We refer to the Credit Facility Agreement n°[●] entered into between the Borrower and the Lender dated [●] (the “Agreement”). Capitalised words and expressions used but not defined herein have the meanings given to them in the Agreement.
2. By a Drawdown Request Letter dated [●], the Borrower has requested that the Lender makes available a Drawdown in the amount of EUR [●], pursuant to the terms and conditions of the Agreement.
3. The Drawdown which has been made available according to your Drawdown Request is as follows:
• Amount: [●amount in words] ([●])
• Applicable interest rate: [●percentage in words] ([●]%) per annum [equal to the aggregate of the six-month EURIBOR (equal to [●]% per annum) 1 and the Margin] 2
• Drawdown Date: [●] For fixed-Interest Rate loans only For information purposes only:
• Rate Setting Date: [●]
• Fixed Reference Rate: [●percentage in words] ([●]%) per annum
• Effective global rate (per annum): [●percentage in words] ([●]%)
• Index Rate: [●percentage in words] ([●]%)
• Index Rate on the Rate Setting Date: [●].
1 If the six-month EURIBOR is not available on the date of confirmation of drawdown due to the occurrence of a Screen Rate Replacement Event, the Replacement Benchmark, the precise terms and conditions of replacement of such Screen Rate with a Replacement Benchmark and the related total effective rates will be communicated to the Borrower in a separate letter.
2 To be deleted in case of fixed Interest Rate.
[It being specified that the above Interest Rate may vary in accordance with the provisions of clauses 4.1.1(i) (Floating Interest Rate) and 5.2 (Replacement of a Screen Rate) of the Agreement.]3
Yours sincerely,
.........................................................
Authorised signatory of Agence Française de Développement
3 To be deleted in case of fixed Interest Rate.
SCHEDULE 5C - FORM OF RATE CONVERSION REQUEST
[on the Borrower’s letterhead]
To: AGENCE FRANÇAISE DE DÉVELOPPEMENT
On: [date]
Borrower’s Name – Credit Facility Agreement n°[●] dated [●] Rate Conversion Request n°[●]
Dear Sirs,
1. We refer to the Credit Facility Agreement n°[●] entered into between the Borrower and the Lender dated [●] (the “Agreement”). Capitalised words and expressions used but not defined herein have the meanings given to them in the Agreement.
2. Pursuant to Clause 4.1.3 (i) (Conversion from a floating Interest Rate to a fixed Interest Rate) of the Agreement, we hereby request that you convert the floating Interest Rate of the following Drawdowns:
• [list the relevant Drawdowns],
into a fixed Interest Rate in accordance with the terms of the Agreement.
3. This rate conversion request will be deemed null and void if the applicable fixed Interest Rate exceeds [●] [●%].
Yours sincerely,
.........................................................
Authorised signatory of Borrower
SCHEDULE 5D - FORM OF RATE CONVERSION CONFIRMATION
[on Agence Française de Développement letterhead]
To: [the Borrower] Date: [●]
Re: Rate Conversion Request n° [●] dated [●]
Borrower’s Name – Credit Facility Agreement n°[●] dated [●] Rate Conversion Confirmation n°[●]
Dear Sirs,
SUBJECT: Conversion from a floating Interest Rate to a fixed Interest Rate
1. We refer to the Credit Facility Agreement n°[●] entered into between the Borrower and the Lender dated [●] (the “Agreement”). Capitalised words and expressions used but not defined herein have the meanings given to them in the Agreement.
2. We refer also to your Rate Conversion Request dated [●]. We confirm that the fixed Interest Rate applicable to the Drawdown(s) referred to in your Rate Conversion Request delivered in accordance with Clause 4.1.3 (i) (Conversion from a floating Interest Rate to a fixed Interest Rate) of the Agreement is:
[●]% per annum.
3. This fixed Interest Rate, calculated in accordance with Clause 4.1.1 (Selection of Interest Rate) will apply to the Drawdown(s) referred in your Rate Conversion Request from [⚫] (effective date).
4. Further, we notify you that the effective global rate per annum of the Facility is [⚫]%.;Yours sincerely,
.........................................................
Authorised representative of Agence Française de Développement
SCHEDULE 6 - INFORMATION THAT THE LENDER IS AUTHORIZED EXPRESSLY TO DISCLOSE ON THE LENDER’S WEBSITE (IN PARTICULAR ON ITS OPEN DATA PLATFORM)
1. Information relating to the Project
- Number and name in AFD’s book;
- Description;
- Operating sector;
- Place of implementation;
- Expected project starting date;
- Expected project completion date; and
- Status of implementation updated on a semi-annual basis.
2. Information relating to the financing of the Project
- Kind of financing (xxxx, xxxxx, co-financing, delegated funds);
- Principal amount of the Facility;
- Total amount drown on annual basis;
- Drawdown amounts planning on a three year basis; and
- Amount of the Facility which has been drawn down (updated as the implementation of the Project goes).
3. Other information
- Transaction information notice attached to this Schedule; and
- The summary of the Project evaluation , the content of which is defined in Article 11.12 “Project Evaluation ".
SCHEDULE 7 – AFD’S COVENANT OF INTEGRITY
Invitation of Bids/Proposals/Contract No. To:
We declare and undertake that neither we nor anyone, including any member of our joint venture or any of our suppliers, contractors, sub-contractors, consultants, sub- consultants, where these exist, acting on our behalf with due authority or with our knowledge or consent, or facilitated by us, has engaged, or will engage, in any activity prohibited under AFD’s General Policy on Combatting Corruption, Fraud, Anti-Competitive Practices, Money Laundering and Terrorist Financing[1] (“AFD’s General Policy”) in connection with the present procurement process and (in case of award) the execution of the above-referenced contract (“Contract”), including any amendments thereto.
We acknowledge that AFD’s participation in the financing of the Contract is subject to AFD’s General Policy. As such, we acknowledge that AFD will not be able to participate in the financing of the Contract if we, including any member of our joint venture, or any of our suppliers, contractors, subcontractors, consultants or sub- consultants are ineligible as a result of a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations or are on any of the following lists (AFD’s Sanction Lists):
EU financial sanctions list
xxxxx://xxxx.xxxxxx.xx/xxxxxxxxxxxx/xxxxxxxxxxxx-xxxxxxxx/0000/xxxxxxxxxxxx-xxxx- sanctions_fr
French financial sanctions list xxxx://xxx.xxxxxx.xxxxxxxx.xxxx.xx/0000_Xxxxxxxxxx-Xxxxxxxx-xx-Xxx-Xxxxxxxxxx
EU commercial sanctions list xxxxx://xxxx.xxxxxx.xx/xxxxx/xxxx/xxxxx/xxxxxxxxxxx_xxxxxxxx-0000-00-00.xxx
We shall permit, and shall cause our sub-contractors, sub-consultants, agents (whether declared or not), personnel, consultants, service providers or suppliers, to permit the AFD to inspect all accounts, records, and other documents relating to the procurement process and/or Contract execution (in the case of award), and to have them audited by auditors appointed by the AFD.
We agree to preserve all accounts, records, and other documents (whether in hard copy or electronic format) related to the procurement and execution of the Contract.
Name: In the capacity of: Duly empowered to sign in the name and on behalf of [2]:
Signature Dated:
SCHEDULE 8 – COMMUNICATION NOTE OF THE PROJECT I CONTEXT AND STRATEGIC CHALLENGES OF THE PROJECT
The Local Self Governments (LSGs) in the Republic of Serbia are in charge of investments in urban mobility (roads in the broad sense, mobility services). There are
145 of them, with an average population of 48,000. Their investments in infrastructure and maintenance have suffered constrains due to the limited technical and financial capabilities of many LSGs. This situation significantly contributed to environmental pollution (including air pollution) and a loss of access to urban amenities: shops, jobs and public services. The consequent deterioration of living conditions in many towns and villages, together with the lack of employment opportunities, has in turn led to increase the territorial inequalities and depopulation of some territories (especially rural), their vulnerability to increasing and uncontrolled climate risks, and generated a significant variability in living standards across the country. There are also challenges of road safety and gender inequalities in mobility.
In addition, as part of the European Union (EU) accession process, Serbia is deploying efforts to improve the links between planning and budgeting at national and local levels. While the legislative framework is relatively developed, there are capacity gaps, particularly for the most vulnerable LSGs.
The challenge for the Serbian local authorities is to develop both technical (in the planning and implementation of projects) and public finance management skills in order to increase their absorption capacity. Their first expenditure item is mobility. In order to support the European agenda of decarbonization of the sector, and more globally to improve the quality of life in cities, the planning and management of the road network have to be renewed by promoting a better sharing of public space between transport modes and a better organization of transport at local level.
II - OBJECTIVES AND CONTENT OF THE PROJECT
The aim of the project is to improve the capacity of all 145 Serbian local self- governments (LSGs) to develop and manage green, inclusive and resilient sustainable mobility infrastructures. Following an integrated intervention logic, the project will strengthen, on top of additional investment funds, the technical skills of the LSGs in terms of planning capabilities, operational performance and financial sustainability of their investments. The project, co-financed with the World Bank (WB), is based on the following three components:
- Component n°1 – Climate Smart Mobility (249.28 MEUR): support for the financing of investments promoting sustainable mobility and resilience of infrastructure to climate change, and a technical assistance sub- component to develop sustainable urban mobility plans.
- Component n°2 – Strengthening Systems and Capacity for Infrastructure Service Delivery (10.17 MEUR): mix of technical assistance services and development of specific tools to strengthen LSG, provide robust planning frameworks, promote asset management of infrastructure, improve the integration of climate issues and access to external financing with a specific effort towards the weakest LSGs.
- Component n° 3 – Project Implementation Support and Awareness Raising (5.75 MEUR): financing of the Project Management Unit (PMU) within the Ministry of Construction, Transport and Infrastructure (MCTI).
III - STAKEHOLDERS AND MODUS OPERANDI
The borrower will be the Republic of Serbia, represented by its Ministry of Finance (MoF). The Ministry of Construction, Transport and Infrastructure (MCTI) will manage the entire program through a Project Implementation Unit (PIU) which will coordinate the implementation of the program with LSG via: i) formalized relationship with LSGs;
ii) steering technical assistance, and iii) capacity building. This PIU will monitor and report on the program implementation to AFD and the WB. The fiduciary management will be carried out by the pre-existing Central Fiduciary Unit (CFU), within the MoF. This organization is a continuation of projects currently being implemented with WB support.
The AFD will delegate supervision tasks to the WB, with payments in pari passu, according to the AFD-WB co-financing framework agreement.
IV COST AND FINANCING
The overall amount of the program is 265.2 MEUR, co-financed one third by the World Bank (88,4M EUR) and two thirds by AFD (176.8 MEUR).
V - MAIN EXPECTED IMPACTS
The first objective of the project is to improve the quality of life of the 7 million residents of Serbia, specifically targeting the poorest local communities vulnerable to climate change. In doing so, the project will contribute to the reduction of social and geographical inequalities and improve access to markets, employment and basic services. It includes specific actions to improve women’s mobility situation.
The project will also contribute to a low-carbon development path, through a rebalancing of public space sharing in favour of active modes (pedestrians, bicycles
– little or no emitters) and the promotion of low-carbon mobility planning (development of Sustainable Urban Mobility Plans). It will also contribute to the resilience of territories to climate change, by taking into account, in the design and implementation of projects, the projected evolution of climate conditions, in particular the increase in flood and the extreme heat episodes.
Finally, the program will improve the performance and efficiency of LSGs, with better planning of investment, operation and maintenance costs. It thus aims for a transformational impact on the public policy framework, i.e. the planning, implementation and management of the investments made by the LSGs, following an integrated approach.
АФД УГОВОР БР. ЦРС 1024 01 Ц
УГОВОР О КРЕДИТУ
потписан 5. децембра 2022. године између
ФРАНЦУСКЕ АГЕНЦИЈЕ ЗА РАЗВОЈ
као Зајмодавца x
РЕПУБЛИКЕ СРБИЈЕ
као Зајмопримца
САДРЖАЈ
1. ДЕФИНИЦИЈЕ И ТУМАЧЕЊА
1.1 Дефиниције
1.2 Тумачења
2. КРЕДИТ, СВРХА И УСЛОВИ КОРИШЋЕЊА
2.1 Кредит
2.2 Сврха
2.3 Мониторинг
2.4 Предуслови
3. ПОВЛАЧЕЊЕ СРЕДСТАВА
3.1 Износи повлачења
3.2 Захтев за повлачење средстава
3.3 Завршетак плаћања
3.4 Методе исплате
3.5 Крајњи рок за прво повлачење кредитних средстава
3.6 Крајњи рок за повлачење кредитних средстава
4. КАМАТА
4.1 Каматна стопа
4.2 Xxxxxxx и плаћање камате
4.3 Кашњење у плаћању и затезна камата
4.4 Комуникација каматних стопа
4.5 Ефективна глобална стопа (Taux Effectif Global)
5. ПРОМЕНА ОБРАЧУНА КАМАТЕ
5.1 Поремећај тржишта
5.2 Замена приказа референтне стопе
6. НАКНАДЕ
6.1 Накнада за ангажовање средстава
6.2 Приступна накнада
7. ОТПЛАТА
8. ПРЕВРЕМЕНА ОТПЛАТА И ОТКАЗИВАЊЕ
8.1 Добровољна превремена отплата
8.2 Обавезна превремена отплата
8.3 Отказивање од стране Зајмопримца
8.4 Отказивање од стране Зајмодавца
8.5 Ограничења
9. ОБАВЕЗЕ ДОДАТНИХ ПЛАЋАЊА
9.1 Трошкови и расходи
9.2 Накнада за отказивање
9.3 Накнада за превремену отплату
9.4 Порези и дажбине
9.5 Додатни трошкови
9.6 Накнада за валуту
9.7 Рокови
10. ИЗЈАВЕ И ГАРАНЦИЈЕ
10.1 Надлежност и одобрење
10.2 Валидност и прихватљивост доказа
10.3 Обавезе
10.4 Нема подношења нити таксених марки
10.5 Трансфер средстава
10.6 Несукобљавање са другим обавезама
10.7 Меродавно право и извршење
10.8 Нема неизвршења обавеза
10.9 Нема обмањујућих информација
10.10 Пројектна документа
10.11 Пројектна одобрења
10.12 Набавка
10.13 Рангирање по принципу pari passu
10.14 Порекло средстава, Коруптивне радње, преваре и нелојалне праксе
10.15 Нема материјалних негативних ефеката
10.16 Нема имунитета
11. ОБАВЕЗЕ
11.1 Поштовање закона, прописа и обавеза
11.2 Одобрења
11.3 Пројектна документа
11.4 Имплементација и одржавање Пројекта
11.5 Набавка
11.6 Одговорност у области животне средине и социјалних питања
11.7 Додатно финансирање
11.8 Рангирање по принципу pari passu
11.9 Наменски рачун
11.10 Контроле
11.11 Евалуација Пројекта
11.12 Имплементација Пројекта
11.13 Порекло средстава, без Коруптивних радњи, превара и нелојалне праксе
11.14 Видљивост и комуникација
11.15 Грантови за ЛСУ
12. ОБАВЕЗЕ ИНФОРМИСАЊА
12.1 Финансијске информације
12.2 Извештај о напретку
12.3 Суфинансирање
12.4 Информације - разно
13. СЛУЧАЈ НЕИЗВРШЕЊА ОБАВЕЗА
13.1 Случај неизвршења обавеза
13.2 Убрзање
13.3 Обавештење о случају неизвршења обавеза
14. АДМИНИСТРАЦИЈА КРЕДИТА
14.1 Плаћања
14.2 Поравнање
14.3 Радни дан
14.4 Валута плаћања
14.5 Конвенција о бројању дана
14.6 Место плаћања
14.7 Прекид рада платног система
15. РАЗНО
15.1 Језик
15.2 Потврде и одлуке
15.3 Парцијална инвалидност
15.4 Без одрицања
15.5 Уступање
15.6 Правно дејство
15.7 Целокупан уговор
15.8 Измене и допуне
15.9 Поверљивост – Обелодањивање информација
15.10 Ограничења
15.11 Промењене околности
16. ОБАВЕШТЕЊА
16.1 У писаној форми и адресе
16.2 Испорука
16.3 Електронска комуникација
17. МЕРОДАВНО ПРАВО, ИЗВРШЕЊЕ И ОДАБИР ПРЕБИВАЛИШТА
17.1 Меродавно право
17.2 Арбитража
17.3 Уручење
18. ТРАЈАЊЕ
ПРИЛОГ 1А – ДЕФИНИЦИЈЕ ПРИЛОГ 1Б – ТУМАЧЕЊЕ
ПРИЛОГ 2 – ОПИС ПРОЈЕКТА
ПРИЛОГ 3 – ПЛАН ФИНАНСИРАЊА ПРИЛОГ 4 – ПРЕДУСЛОВИ
ПРИЛОГ 5А – ОБРАЗАЦ ЗАХТЕВА ЗА ПЛАЋАЊЕ
ПРИЛОГ 5Б – ОБРАЗАЦ ПОТВРДЕ ПОВЛАЧЕЊА СРЕДСТАВА И СТОПЕ ПРИЛОГ 5Ц – ОБРАЗАЦ ЗАХТЕВА ЗА КОНВЕРЗИЈУ СТОПЕ
ПРИЛОГ 5Д – ОБРАЗАЦ ПОТВРДЕ КОНВЕРЗИЈЕ СТОПЕ
ПРИЛОГ 6 - ИНФОРМАЦИЈЕ КОЈЕ ЈЕ ЗАЈМОДАВАЦ ИЗРИЧИТО ОВЛАШЋЕН ДА ОБЕЛОДАНИ НА ВЕБ СТРАНИЦИ ЗАЈМОДАВЦА (А ПОСЕБНО НА ПЛАТФОРМИ ОТВОРЕНИХ ПОДАТАКА)
ПРИЛОГ 7 - ИЗЈАВА О ИНТЕГРИТЕТУ АФД-А
ПРИЛОГ 8 – НАПОМЕНА У ВЕЗИ СА КОМУНИКАЦИЈОМ НА ПРОЈЕКТУ
УГОВОР О КРЕДИТУ
ИЗМЕЂУ:
(1) РЕПУБЛИКЕ СРБИЈЕ, коју представља Влада Републике Србије, преко министра финансија, господина Xxxxxx Малог, који је прописно овлашћен да потпише овај Уговор
(„Република Србија” или „Зајмопримац”);
И
(2) ФРАНЦУСКЕ АГЕНЦИЈЕ ЗА РАЗВОЈ, француске јавне институције која ради у складу са законом Француске, са седиштем на адреси 0, Xxx Xxxxxx Xxxxxxx, 00000 Xxxxx Xxxxx 00, Француска, регистроване у Регистру трговине и предузећа под бројем 000 000 000, коју заступа господин Xxxxxxxxx Xxxxxxxxxx, у својству директора регионалне канцеларије за Западни Балкан, који је прописно овлашћен за потписивање овог Уговора,
(„AФД” или „Зајмодавац”);
(у даљем тексту „Стране” и појединачно „Страна”);
ПРИ ЧЕМУ:
(А) Зајмопримац намерава да имплементира Пројекат развоја локалне инфраструктуре и институционалног јачања локалних самоуправа („Пројекат”), као што је даље описано у Прилогу 2 (Опис Пројекта) у укупном износу до двестотине шестдесет пет милиона и две стотине хиљада евра (ЕУР 265.200.000).
(Б) Зајмопримац је затражио да Зајмодавац стави на располагање кредит за потребе финансирања дела Пројекта.
(Ц) ИБРД, као суфинансијер намерава да обезбеди финансирање Пројекта до износа до осамдесет и осам милиона и четири стотине хиљада евра (ЕУР 88.400.000).
(Д) У складу са резолуцијом бр. Ц20220095 Управног одбора (Conseil d'Administration) АФД-а од 17. марта 2022. године, Зајмодавац се сагласио да ће Зајмопримцу ставити на располагање кредитна средства у складу са условима и одредбама овог Уговора.
СТРАНЕ СУ СЕ СТОГА ДОГОВОРИЛЕ СЛЕДЕЋЕ:
1. ДЕФИНИЦИЈЕ И ТУМАЧЕЊА
1.1 Дефиниције
Речи и изрази написани великим словом који се користе у овом Уговору (укључујући оне који се појављују у претходним уводним напоменама и Прилозима) имаће значење дато им у Прилогу 1А (Дефиниције), осим ако овим Уговором није другачије предвиђено.
1.2 Тумачења
Речи и изрази коришћени у овом Уговору тумачиће се у складу са одредбама Прилога 1Б (Тумачење), осим ако се не одлучи другачије.
2. КРЕДИТ, СВРХА И УСЛОВИ КОРИШЋЕЊА
2.1 Кредит
У складу са условима овог Уговора, Xxxxxxxxxx ће ставити на располагање Зајмопримцу Кредитна средства у максималном укупном износу до стотину седамдест и шест милиона и осам стотина хиљада евра (ЕУР 176.800.000).
2.2 Сврха
Зајмопримац ће искористити све износе које је позајмио у оквиру овог Кредита искључиво за потребе финансирања и/или рефинансирања Дозвољених трошкова, у складу са описом Пројекта датим у Прилогу 2 (Опис Пројекта) и Планом финансирања датим у Прилогу 3 (План финансирања).
2.3 Мониторинг
Зајмодавац неће сносити одговорност за коришћење било ког позајмљеног износа који није у складу са одредбама овог Уговора.
2.4 Предуслови
(а) Најкасније до Датума потписивања, Зајмопримац ће Xxxxxxxxxx обезбедити сва документа наведена у Делу I Прилога 4 (Предуслови).
(б) Xxxxxx за повлачење средстава не може се доставити Зајмодавцу осим:
(i) у случају првог повлачења, ако је Зајмодавац примио сва документа наведена у Xxxxxxxx XX, III и IV Прилога 4 (Предуслови), и обавестио Зајмопримца да су та документа у форми и садржају који задовољавају Зајмопримца;
(ii) у случају сваког следећег повлачења, ако је Зајмодавац примио сва документа наведена у Делу IV Прилога 4 (Предуслови), и обавестио Зајмопримца да су та документа у форми и садржају који задовољавају Зајмопримца; и
(iii) на датум Захтева за повлачење средстава и на предложени Xxxxx повлачења средстава за релевантно повлачење, није дошло до Прекида рада платног система
и да су испуњени услови дефинисани у овом Уговору, укључујући и следеће:
(1) не наставља се ни један Случај неизвршења обавеза нити би могао да проистекне из предложеног Повлачења;
(2) ни један Суфинансијер није суспендовао своја плаћања везана за Пројекат;
(3) Захтев за повлачење средстава је сачињен у складу са одредбама члана 3.2 (Захтев за повлачење средстава);
(4) Свака изјава коју је Зајмопримац дао у складу са чланом 10 (Изјаве и гаранције) је тачна.
3. ПОВЛАЧЕЊЕ СРЕДСТАВА
3.1 Износи повлачења
Кредитна средства биће на располагању Зајмопримцу током Периода расположивости, у неколико повлачења под условом да не буде више од седамдесет (70) Повлачења средстава.
3.2 Захтев за повлачење средстава
(а) Под условом да су испуњени услови дефинисани у члану 2.4(б) (Предуслови), Зајмопримац може повући Кредитна средства слањем уредно попуњеног Захтева за повлачење средстава Зајмодавцу као што се у даљем тексту наводи:
(i) електронска копија Захтева за повлачење, која је уредно попуњена и потписана, заједно са свим пратећим документима потребним за испуњење релевантних предуслова, прво ће се поднети Суфинансијеру, истовремено са подношењем одговарајућег Захтева за повлачење средстава у оквиру ИБРД кредита у складу са одредбама и условима Споразума о зајму ИБРД-а; и
(ii) штампани примерак уредно попуњеног и потписаног Xxxxxxx за повлачење средстава доставља се поштом од стране Зајмопримца на канцеларију директора АФД-а, на адресу наведену у члану 16.1 (У писаној форми и адресе).
Исплате ће се вршити у складу са упутствима датим у Писму о повлачењу средстава и финансијским информацијама (DFIL), ажурираним по потреби, издатим од стране Суфинансијера.
Осим уколико Xxxxxxxxxx не одобри изузетке, сваки Захтев за повлачење средстава биће припремљен истовремено са Захтевом за повлачење средстава према Споразуму о зајму ИБРД-а на име релевантног износа како би се испунио принцип финансирања pari passu наведен у Анексу 3 (План финансирања).
(б) Xxxxx захтев за повлачење средстава је неопозив и сматраће се да је ваљано попуњен уколико:
(i) захтев за повлачење средстава је у суштини у форми дефинисаној у Прилогу 5А (Образац захтева за плаћање);
(ii) Зајмодавац ће Xxxxxx за повлачење средстава примити најкасније петнаест (15) Радних дана пре Рока за повлачење;
(iii) предложени Xxxxx повлачења средстава је радни дан који пада током Периода расположивости;
(iv) износ Повлачења средстава у складу је са чланом 3.1 (Износи повлачења); и
(v) сва документа наведена у Делу II и/или III и/или IV Прилога 4 (Предуслови), зависно од случаја, за потребе Повлачења средстава приложени су уз Захтев за повлачење средстава, у складу са горе поменутим Прилогом и захтевима наведеним у члану 3.4 (Методе исплате), и у форми и садржине задовољавајуће за Зајмодавца.
Сви документарни докази, као што су рачуни или плаћене фактуре, морају садржати деловодни број и датум одговарајућег налога за плаћање уколико је применљиво и захтевано у складу са процедурама Суфинансијера.
Зајмопримац се обавезује да ће држати у поседу оригинале документованих доказа, да ће такве доказе ставити на располагање Зајмодавцу у било ком тренутку и да ће Зајмодавцу доставити оверене копије или дупликате таквих доказа које Зајмодавац може захтевати.
3.3 Завршетак плаћања
Током реализације Споразума о суфинансирању, након што је Xxxxxxxxxxxx примио Xxxxxx за повлачење средстава и релевантну пратећу документацију описану у члану 3.2 (a) (i) изнад, Суфинансијер, у име и за рачун Зајмодавца ће:
(i) прегледати сву достављену пратећу документацију у складу са важећим интерним правилима и процедурама; и
(ii) проверити да ли је износ тражен у Захтеву за повлачење у складу са захтевима за суфинансирање према Споразуму о суфинансирању.
Ако су горе наведени резултати процене и верификације задовољавајући за Суфинансијера, он ће писменим путем обавестити Зајмодавца о таквом резултату преко обавештења о исплати („Обавештење о исплати”).
У складу са чланом 14.7 (Прекид рада платног система) ако су испуњени сви услови наведени у члану 2.4(б) (Предуслови) овог Уговора, Xxxxxxxxxx ће ставити Зајмопримцу на располагање тражена средства најкасније до Датума повлачења средстава.
Зајмодавац ће Xxxxxxxxxxx обезбедити писмо о повлачењу средстава суштински у форми дефинисаној у Прилогу 5Б (Образац потврде повлачења средстава и стопе).
3.4 Методе исплате
Средстава ће бити стављена на располагање у складу са једним или више следећих услова:
3.4.1 Рефундирање
У складу са условима датим у Делу III и/или IV Прилога 4 (Предуслови), зависно од случаја, средства могу бити уплаћена директно Зајмопримцу у складу са одредбама и условима Уговора, у циљу рефундирања Дозвољених трошкова плаћених од стране Зајмопримца, под условом да су докази о плаћању Дозвољених трошкова Зајмопримца наведени у Захтеву о повлачењу средстава, достављени Зајмодавцу преко Суфинансијера у форми и садржине задовољавајуће за Суфинансијера.
Зајмодавац може од Зајмопримца, директно или преко Суфинансијера, тражити да достави друге доказе којима се потврђује да су радови или услуге који се односе на релевантне Дозвољене расходе реализовани.
3.4.2 Директна плаћања
(а) У складу са условима утврђеним у Делу III и/или IV Прилога 4 (Предуслови), у зависности од случаја, Зајмопримац може захтевати у Захтеву за повлачење средстава да се повучена средстава ставе на располагање директно било ком Извођачу коме се новац дугује по основу било ког уговора о набавци робе, услуга или других радова склопљеног у циљу реализације свих или дела Дозвољених пројектних трошкова Пројекта.
(б) Зајмопримац овим овлашћује Xxxxxxxxxx да изврши директна плаћања у складу са горе наведеним ставом (а) из Повучених средстава. Зајмодавац неће бити у обавези у било ком тренутку да верификује да ли је постоје ограничења било које природе везане за захтев за Повлачење средстава. Зајмодавац задржава право да одбије такав захтев ако сазна за било које такво ограничење.
(ц) Зајмодавац неће бити одговоран ни на који начин за повлачење средстава и Зајмопримац се одриче било какве радње коју може предузети против Зајмодавца у том погледу. Зајмопримац ће надокнадити Xxxxxxxxxx све трошкове, губитке или обавезе које Xxxxxxxxxx претрпи у вези са тужбама трећих страна против Зајмодаваца у вези са таквим повлачењем.
(д) Зајмопримац је сагласан да ће се било који износ који уплати Зајмодавац у складу са овим чланом 3.4.2 сматрати Повлачењем средстава и да ће у потпуности бити отплаћени Зајмодавцу сви износи плаћени у оквиру Кредита у складу са чланом 3.4.2 (Директна плаћања), заједно са, и укључујући, али не ограничавајући се на све камате обрачунате на те износе од релевантних датума повлачења.
3.4.3 Авансно повлачење средстава
Зајмодавац може приступити Кредиту у форми аванса („Аванса”) који се уплаћују на Наменски рачун.
(а) Отварање Наменског рачуна
Зајмопримац ће отворити и одржавати рачун за потребе Пројекта („Наменски рачун”), код Народне банке Србије („НБС”), само у сврху (i) пријема Повучених средстава од Зајмодавца у форми Аванса; и (ii) плаћања Дозвољених расхода.
Зајмопримац се овим обавезује и обезбеђује да се одриче било којег права на поравнање било које стране у вези са Наменским рачуном и било којим другим рачуном отвореним на име Зајмопримца код НБС или за било који други дуг Зајмопримца.
(б) Иницијални аванс
Под условом да су испуњени услови наведени у члану 2.4 (Предуслови), Зајмодавац ће на Наменски рачун уплатити иницијални Аванс у износу назначеном у одговарајућем Обавештењу о повлачењу средстава Аванса наведеног у одговарајућем Обавештењу о исплати коју је Суфинансијер доставио Зајмодавцу.
(ц) Додатни аванс
Додатни аванси ће се извршити на захтев Зајмопримаца у складу са истим поступком који се захтева према Споразуму о зајму ИБРД-а и под условима наведеним у члану 2.4 (Предуслови).
(д) Коначни аванс
Осим ако се Зајмодавац не договори другачије, коначни аванс ће се исплатити у складу са истим условима као и други аванси и, ако је примењиво, узимаће у обзир сваку промену у Плану финансирања Пројекта о којем су се Стране договориле.
(е) Правдање коришћења Аванса
Зајмопримац се сложио да Зајмодавцу достави:
(i) најкасније до Рока за коришћење средстава, потврду потписану од стране овлашћеног потписника Зајмопримаца којом се потврђује да је сто посто (100%) претпоследњег Аванса и последњег Аванса искоришћено, као и детаљну спецификацију плаћених износа који спадају у категорију Дозвољених расхода током релевантног периода; и
(ii) најкасније у року од три (3) месеца након датума достављања потврде наведене у горњој тачки (i), финални ревизорски извештај Наменског рачуна („Финални ревизорски извештај”), спроведеног у складу са одредбама Споразума о зајму ИБРД-а и Пројектног оперативног приручника и приручника за грантове. Именовани ревизор провериће да ли су сви износи повучени у оквиру Кредита и уплаћени на Наменски рачун коришћени у складу са условима и одредбама овог Уговора.
(ф) Важећи курс
Ако су неки Дозвољени трошкови деноминовани у валути која није евро, Зајмопримац ће конвертовати износ фактуре у еквивалентни износ у еврима, у складу са одредбама Споразума о зајму ИБРД-а и Пројектног оперативног приручника и приручника за грантове.
(г) Рок за коришћење средстава
Зајмопримац је сагласан да ће се сва средства уплаћена у облику аванса у потпуности користити за плаћање дозвољених трошкова најкасније до крајњег рока за коришћење средстава.
(х) Контрола – Ревизија
Зајмопримац је сагласан да ће, током Xxxxxxx повлачења, Наменски рачун бити предмет ревизије у складу са одредбама Споразума о зајму ИБРД-а и Пројектног оперативног приручника и приручника за грантове. Ревизор ће верификовати да ли су сви износи повучени у оквиру Кредита и уплаћени на Наменски рачун искоришћени у складу са условима овог Уговора.
Зајмопримац ће извештаје о ревизији ставити на располагање Зајмодавцу преко Суфинансијера.
Током Периода повлачења средстава, Зајмодавац може извршити или наручити да треће лице у његово име и о трошку Зајмопримца изврши насумичну, а не систематску контролу документације.
(и) Пропуст да се оправда коришћење Аванса до Крајњег рока за коришћење средстава
Зајмодавац може захтевати да Зајмопримац врати све износе чије коришћење није било правилно или довољно оправдано, у складу са Споразумом о зајму ИБРД-а, заједно са свим осталим износима потражног салда на Наменском рачуну на дан Крајњег рока за коришћење средстава. Зајмопримац ће вратити такве износе Зајмодавцу у року од двадесет (20) календарских дана од дана пријема таквог обавештења од Зајмодавца. Свака отплата коју ће Зајмопримац извршити према овом члану третираће се као обавезна превремена отплата у складу са одредбама члана
8.2 (Обавезна превремена отплата). (ј) Чување докумената
Зајмопримац има обавезу чувања евиденције и других докумената у вези са Наменским рачуном и коришћењем аванса у периоду од десет (10) година од датума последњег Повлачења кредитних средстава.
Зајмопримац се обавезује да ће такву евиденцију и друга документа достављати Зајмодавцу, или било којој ревизорском фирми именованој од стране Зајмодавца, на захтев Зајмодавца.
3.5 Крајњи рок за прво Повлачење кредитних средстава
Прво Повлачење кредитних средства ће се десити најкасније на датум истека периода од четрнаест (14) месеци од одобрења Кредита од стране надлежних органа Зајмодавца, као што је наведено у ставу (Д) уводних напомена.
Уколико се прво Повлачење кредитних средстава не деси у напред наведеном периоду, Зајмодавац може да откаже Кредит у складу са чланом 8.4(б) (Отказивање од стране Зајмодавца).
Крајњи рок за прво Повлачење кредитних средстава се не може одлагати без претходне сагласности Зајмодавца.
Свако одлагање рока за прво Повлачење кредитних средстава ће бити:
(i) предмет нових финансијских услова који се примењују на Повлачења кредитних средстава и (ii) формализован у писаној форми између Страна.
3.6 Крајњи рок за Повлачење кредитних средстава
Потпуно повлачење Кредита ће се десити најкасније до Рока за Повлачење кредитних средстава.
Уколико се потпуно Повлачење кредитних средстава не деси до напред наведеног датума, Зајмодавац може да откаже Кредит у складу са чланом 8.4 (Отказивање од стране Зајмодавца).
Крајњи рок за Повлачење кредитних средстава се не може одлагати без претходне сагласности Зајмодавца.
Свако одлагање Рока за Повлачење кредитних средстава ће бити: (i) предмет нових финансијских услова који се примењују на Повлачење кредитних средстава и расположив Кредит и (ii) формализован у писаној форми између Страна.
4. KАМАТА
4.1 Каматна стопа
4.1.1 Одабир каматне стопе
За свако Повлачење средстава, Зајмопримац може одабрати фиксну Каматну стопу или варијабилну Каматну стопу, која ће се примењивати на износ дефинисан у релевантном Захтеву за повлачење средстава, наводећи изабрану Каматну стопу тј. фиксну или варијабилну у Захтеву за повлачење средстава који се доставља Зајмодавцу суштински у форми и садржаја датих у Прилогу 5A (Образац захтева за повлачење средстава), под следећим условима:
(i) Варијабилна каматна стопа
Зајмопримац може одабрати варијабилну Каматну стопу, која ће бити процентуална годишња стопа, која је збир:
- шестомесечног ЕУРИБОР-а, или, зависно од случаја, заменске камате увећане за било коју Маржу за прилагођавање, утврђене у складу са одредбама члана 5 (Измена обрачуна камате) Уговора; и
- Марже.
Не доводећи у питање горе наведено, у случају првог Повлачења средстава, ако је први Каматни период краћи од сто тридесет и пет (135) дана, примењиви ЕУРИБОР ће бити:
- једномесечни ЕУРИБОР или, зависно од случаја, Заменска камата увећан за било коју Маржу за прилагођавање, утврђену у складу са одредбама члана 5 (Измена обрачуна камате) Уговора, уколико је први Каматни период краћи од шездесет (60) дана; или
- тромесечни ЕУРИБОР или, зависно од случаја, Заменска камата увећан за било коју Маржу за прилагођавање, утврђену у складу са одредбама члана 5 (Измена обрачуна камате) Уговора, уколико је први Каматни период између шездесет (60) и сто тридесет пет (135) дана.
(ii) Фиксна каматна стопа
Под условом да је износ траженог Повлачења средстава једнак или већи од три милиона евра (3.000.000 ЕУР), Зајмопримац може одабрати фиксну Каматну стопу за такво захтевано повлачење. Фиксна Каматна стопа представља Фиксну референтну стопу увећану или умањену за сваку флуктуацију Индексне стопе за период од Датума потписивања до релевантног Датума утврђивања стопе.
4.1.2 Минимална каматна стопа
Каматна стопа утврђена у складу са чланом 4.1.1. (Одабир каматне стопе), без обзира на изабрану опцију, неће бити мања од једне четвртине процента (0,25%) на годишњем нивоу, без обзира на било какав пад Каматне стопе.
4.1.3 Конверзија варијабилне Каматне стопе у фиксну Каматну стопу
(I) Конверзија стопе на захтев Зајмопримца
У било ком тренутку, Зајмопримац може затражити од Зајмодавца Конверзију варијабилне Каматне стопе која се примењује на Повлачење средстава или неколико Повлачења средстава у фиксну Каматну стопу, под условом да је износ таквог Повлачења средстава или укупни износ Повлачења (према потреби) једнак или већи од три милиона евра (3.000.000 ЕУР).
У том смислу, Зајмопримац ће Xxxxxxxxxx послати Xxxxxx за конверзију стопе суштински у форми наведеној у Прилогу 5Ц (Образац захтева за конверзију стопе). Зајмопримац може у Писму о конверзији стопе навести максимални износ за фиксну Каматну стопу. Ако фиксна Каматна стопа, израчуната на датум одређивања стопе, премашује максимални износ фиксне Каматне стопе наведен од стране Зајмопримца у Захтеву за конверзију стопе, такав Захтев за конверзију стопе аутоматски ће бити поништен.
Фиксна каматна стопа ступиће на снагу два (2) Радна дана након Датума утврђивања стопе.
(ii) Процедура конверзије стопе
Фиксна каматна стопа која се примењује на одговарајуће Повлачење(а) средстава утврђује се у складу са чланом 4.1.1(ii) (Фиксна каматна стопа) на Датум утврђивања камате наведеним под тачком (i) горе.
Зајмодавац ће послати Xxxxxxxxxxx писмо потврде о Конверзији стопе суштински у форми датој у Прилогу 5D (Образац потврде конверзије стопе).
Конверзија стопе је коначна и врши се без трошкова.
4.2 Xxxxxxx и плаћање камата
Зајмопримац ће платити обрачунате камате на Повлачење(а) средстава на сваки Датум плаћања.
Износ камате коју је Зајмопримац у обавези да плати на релевантан Датум исплате и за одговарајући Каматни период биће једнак збиру било које камате коју Зајмопримац дугује на износ Стања дуга главнице за свако повлачење. Камата коју дугује Зајмопримац за свако Повлачење средстава обрачунава се на основу:
(i) Стање дуга главнице коју Зајмопримац дугује у вези са одговарајућим Повлачењем средстава на дан који непосредно претходи Датуму плаћања или, у случају првог Каматног периода, на одговарајући Датум повлачења средстава;
(ii) тачног броја дана који су обрачунати током релевантног Каматног периода узимајући за основу годину у трајању од триста шездесет (360) дана; и
(iii) примењиве каматне стопе утврђену у складу са одредбама члана 4.1 (Каматна стопа).
4.3 Кашњење у плаћању и затезна камата
(а) Кашњење у плаћању и затезна камата на све доспеле и неплаћене износе (осим камата)
Ако Зајмопримац не плати било који износ који је доспео према овом Уговору, (било да се ради о плаћању главнице, накнади за превремену отплату, било каквим накнадама или успутним трошковима било које врсте, осим за неплаћене доспеле камате) на дан доспећа, камата ће се обрачунати на доспели а неплаћени износ, у мери у којој то закон дозвољава, од датума доспећа до датума стварне исплате (и пре и после арбитражне одлуке, ако постоји) по каматној стопи која се примењује на текући каматни период (затезне камате) увећан за три и по процента (3,5%) (камата за кашњење у плаћању). Није потребно никакво формално претходно обавештење од стране Зајмодавца.
(б) Кашњење у плаћању и затезна камата на неплаћене доспеле камате
На камате које су доспеле а нису намирене, обрачунава се камата, под условом да су остале неплаћене годину дана и у мери допуштеној законом, по Каматној стопи која се примењује у текућем Каматном периоду (затезна камата), увећанoj за три и по процента (3,5%) (камата за кашњење у плаћању), у мери у којој је таква Камата доспела и платива најмање једну (1) годину. Није потребно никакво формално претходно обавештење од стране Зајмодавца.
Зајмопримац ће платити све заостале камате према овом члану 4.3 (Кашњење у плаћању и затезна камата) одмах на захтев Зајмодавца или на сваки Датум исплате који следи након датума доспећа за неизмирено плаћање.
(ц) Пријем било које камате за кашњење у плаћању или затезне камате од стране Зајмодавца не подразумева одобрење било каквог продужења плаћања Зајмопримцу, нити представља одрицање било ког права Зајмодавца из овог Уговора.
4.4 Комуникација каматних стопа
Зајмодавац ће одмах обавестити Зајмопримца о одређивању сваке каматне стопе у складу са овим Уговором.
4.5 Ефективна глобална стопа (Taux Effectif Global)
У складу са члановима Л. 314-1 до Л.314-5 и Р.314-1 и даље француског закона о потрошачима и Л. 313-4 француског монетарног и финансијског законика, Зајмодавац обавештава Зајмопримца, а Зајмопримац прихвата да се ефективна глобална стопа (taux effectif global) која се примењује на Кредит може утврђивати по годишњој стопи од три зарез шездесет и седам процената (3,67%) на основу календарске године од триста шездесет пет (365) дана и шестомесечног (6) Каматног периода, под следећим условима:
(а) горе наведена стопа је дата само у информативне сврхе; (б) горња стопа обрачунава се на основу:
(i) повлачења Кредита је потпуно на Датум потписивања;
(ii) ниједно повлачење стављено на располагање Зајмопримцу неће подразумевати камату на варијабилну стопу; и
(iii) фиксна стопа за време трајања Кредита треба да буде једнака три зарез педесет и пет процената (3,55%) годишње;
(ц) горе наведена стопа узима у обзир накнаде и трошкове које Зајмопримац плаћа према овом Уговору, под претпоставком да ће такве накнаде и трошкови остати фиксни и примењиваће се до истека рока важења овог Уговора.
5. ИЗМЕНА ОБРАЧУНА КАМАТЕ
5.1 Поремећај тржишта
(a) Ако Догађај поремећаја тржишта утиче на међубанкарско тржиште у еврозони и немогуће је:
(i) утврдити Каматну стопу за потребе фиксне Каматне стопе која се примењује на повлачење средстава; или
(ii) утврдити примењиви ЕУРИБОР за варијабилну каматну стопу, за релевантни Каматни период;
Зајмодавац ће о томе обавестити Зајмопримца.
(б) По наступу горе наведеног догађаја описаног у тачки (а), примењива Каматна стопа, у зависности од случаја, за релевантно Повлачење средстава или за одговарајући Каматни период биће збир:
(i) Марже; и
(ii) процентуалне стопе на годишњем нивоу која одговара трошковима Зајмодавца за финансирање одговарајућих Повлачења средстава из било ког извора који може разумно одабрати. Зајмопримац ће о таквој стопи бити обавештен што је пре могуће и, у сваком случају, пре (1) првог Датума плаћања за камате по основу таквог Повлачења средстава за фиксну Каматну стопу или (2) Датума плаћања за камате по основу тог Каматног периода за варијабилну Каматну стопу.
5.2 Замена Приказа референтне стопе
5.2.1 Дефиниције
„Релевантно тело за именовање” означава било коју централну банку, регулатора, надзорни орган или радну групу или одбор који финансира или којим председава или је конституисано на захтев било ког од њих.
„Догађај замене приказа Референтне стопе” означава било који од наредних догађаја или низа догађаја:
(a) битно су се променили дефиниција, методологија, формула или начин утврђивања Приказа референтне стопе;
(б) донесен је закон или пропис којим се забрањује употреба Приказа референтне стопе, уз прецизирање, како би се избегла сумња, да наступ овог догађаја неће представљати догађај обавезне превремене отплате;
(ц) администратор Приказа референтне стопе или његов супервизор јавно објављује:
(i) да је престао или ће престати да пружа Приказ референтне стопе трајно или на неодређено време, и у то време ниједан наследник администратора није јавно номинован да настави да обезбеђује Приказ референтне стопе;
(ii) да је Приказ референтне стопе престао или ће престати да се објављује трајно или на неодређено време; или
(iii) да се Приказ референтне стопе више неће користити (било сада или у будућности);
(д) јавно се објављује информација о банкроту администратора Приказа референтне стопе или другом поступку несолвентности који се против њега води, а у то време ниједан наследник администратора није јавно номинован да настави да обезбеђује Приказ референтне стопе; или
(е) по мишљењу Зајмодавца, Приказ референтне стопе је престао да се користи у низу упоредивих финансијских трансакција.
„Приказ референтне стопе” означава ЕУРИБОР, или следеће замене за ову стопу Заменском стопом.
„Датум замене Приказа референтне стопе” означава:
– у вези са горе наведеним догађајима у тачкама a), д) и e) дефиниције Догађаја замене Приказа референтне стопе, датум на који Зајмодавац има сазнања о настанку таквог догађаја; и
– у вези са горе наведеним догађајима у тачкама б) и ц) дефиниције Догађаја замене Приказа референтне стопе, датум након којег ће употреба Приказа референтне стопе бити забрањена или датум када ће администратор Приказа референтне стопе трајно или на неодређено време престати да пружа Приказ референтне стопе или датум након којег се Приказ референтне стопе више не може користити.
5.2.2 Свака страна прихвата и сагласна је у корист друге Стране, да уколико дође до Догађаја замене Приказа референтне стопе и у циљу очувања економске равнотеже Уговора, Зајмодавац може заменити Приказ референтне стопе другом стопом („Заменска стопа”) која може укључити Маржу за прилагођавање како би се избегао било какав пренос економске вредности између Страна (ако их има) („Маржа за прилагођавање”) и Зајмодавац ће утврдити датум од када ће Заменска стопа и, уколико постоји, Маржа за прилагођавање заменити Приказ референтне стопе и све друге измене и допуне Уговора потребне као резултат замене Приказа референтне стопе Заменском стопом.
5.2.3 Одређивање Заменске стопе и неопходне измене и допуне биће донете у доброј намери и узимајући у обзир (i) препоруке било ког Релевантног тела за именовање; или
(ii) препоруке администратора Приказа референтне стопе; или (iii) секторско решење које препоручују професионална удружења у банкарском сектору; или (iv) тржишну праксу примењену у низу упоредивих финансијских трансакција на датум замене.
5.2.4 У случају замене Приказа референтне стопе, Xxxxxxxxxx ће одмах обавестити Зајмопримца о условима замене Приказа референтне стопе Заменском стопом, која ће бити примењива на Xxxxxxx период почевши од најмање два Радна дана након Xxxxxx замене Приказа референтне стопе.
5.2.5 Одредбе члана 5.2 (Догађај замене приказа Референтне стопе) имаће предност над одредбама члана 5.1 (Поремећај тржишта).
6. НАКНАДЕ
6.1 Накнада на неповучена средстава
Почевши од сто осамдесет (180) календарских дана након Датума потписивања па надаље, Зајмопримац ће Зајмодавцу платити накнаду на неповучена средстава (доспеле и обрачунате у складу са испод наведеним) у износу од једне четвртине процента (0,25%) на годишњем нивоу.
Накнада на неповучена средстава биће обрачуната по горе наведеној стопи на износ расположивог Кредита пропорционално стварном броју протеклих дана, увећана за износ сваког Повлачења средстава које ће Зајмодавац ставити на располагање, у складу са текућим Захтевима за повлачење средстава.
Прва накнада на неповучена средстава биће обрачуната за период од (i) дана који пада шездесет (60) календарских дана након Датума потписивања (не укључујући тај дан) до (ii) непосредно после Датума плаћања (укључујући и тај датум). Накнадне накнаде на неповучена средстава биће обрачунате за период који почиње на дан непосредно након Датума плаћања (укључујући и тај датум) и завршава се следећим Датумом плаћања (укључујући и тај датум).
Обрачуната накнада на неповучена средстава биће платива (i) сваког Датума плаћања током Периода расположивости; (ii) на Датум плаћања након последњег дана Периода за повлачење средстава; и (iii) у случају да је Xxxxxxxxxxx кредит отказан у потпуности, на Датум плаћања након датума ступања на снагу тог отказивања.
6.2 Приступна накнада
Најкасније сто осамдесет (180) календарских дана након Датума потписивања и пре првог Повлачења средстава, Зајмопримац ће Зајмодавцу платити приступну накнаду у износу од једне четвртине процента (0,25%) обрачунату на максимални износ Кредита.
7. ОТПЛАТА
Након истека Грејс периода, Зајмопримац ће Xxxxxxxxxx отплатити главницу Кредита у дванаест (12) једнаких полугодишњим рата, које доспевају и плативе су на сваки Датум плаћања.
Прва рата доспева и платива је 15. јуна 2029. године, док последња рата доспева и платива је 15. децембра 2034. године.
На крају Периода за повлачење средстава, Зајмодавац ће Зајмопримцу доставити план амортизације везан за Кредит, узимајући у обзир, уколико је примењиво, свако потенцијално отказивање Кредита у складу са чланом 8.3 (Отказивање од стране Зајмопримца) и/или 8.4 (Отказивање од стране Зајмодавца).
8. ПРЕВРЕМЕНА ОТПЛАТА И ОТКАЗИВАЊЕ
8.1 Добровољна превремена отплата
Зајмопримац нема права да превремено отплати целокупан Кредит пре истека Периода за повлачење средстава.
Од датума након истека Периода за повлачење средстава, Зајмопримац може извршити превремену отплату целокупног износа или дела Кредита, под следећим условима:
(а) Зајмопримац ће обавестити Xxxxxxxxxx о намери да изврши превремену отплату слањем писаног обавештења најмање тридесет (30) Радних дана пре предвиђеног датума превремене отплате;
(б) Износ превремене отплате биће једнак главници једне или више рата;
(ц) Предвиђени датум превремене отплате биће Датум превремене отплате;
(д) Све превремене отплате извршиће се заједно уз плаћање обрачунате камате, свих накнада, обештећења и повезаних трошкова у вези са превремено плаћеним износом, у складу са овим Уговором;
(е) Не постоје неизмирени износи; и
(ф) У случају делимичне превремене отплате, Зајмопримац ће доставити Xxxxxxxxxx доказе који су задовољавајући за Зајмодавца да Зајмопримац поседује довољно опредељених средстава за потребе финансирања Пројекта, као што је дефинисано у Плану финансирања.
На Датум плаћања када је извршена превремена отплата, Зајмопримац ће исплатити целокупан износ Накнаде за превремену отплату доспелу и плативу у складу са чланом 9.3 (Накнада за превремену отплату).
8.2 Обавезна превремена отплата
Зајмопримац ће одмах извршити превремену отплату целокупног или дела Xxxxxxx, након пријема обавештења од стране Зајмодавца у коме га обавештава о било ком од следећих догађаја:
(а) Незаконитости: у складу са важећим законом, постаје незаконито за Зајмодавца да извршава било коју од својих обавеза из овог Уговора или да финансира или одржава Кредит;
(б) Додатни трошкови: износ Додатних трошкова наведених у члану 9.5 (Додатни трошкови) је значајан и Зајмопримац одбија да плати такве Додатне трошкове;
(ц) Неизвршење обавеза: Зајмодавац објављује да је дошло до Случаја неизвршења обавеза у складу са чланом 13 (Случај неизвршења обавеза);
(д) Пропуст у правдању коришћења средстава: Зајмопримац није оправдао на начин који је задовољавајући за Зајмодавца коришћење Аванса до Рока за коришћење средстава;
(е) Превремено плаћање према Суфинансијеру: Зајмопримац превремено отплаћује целокупан или део износа који дугује Суфинансијеру, у ком случају ће Зајмодавац имати право да тражи од Зајмопримца да изврши превремену отплату, зависно од случаја, Кредита или износа неизмиреног Кредита пропорционално износу који је превремено отплаћен Суфинансијеру.
У случају сваког од горе наведених догађаја у ставовима (а), (б) и (ц), Зајмодавац задржава право, након што је обавестио Зајмопримца у писаној форми, да искористи своја права повериоца на начин дефинисан у ставу (б) члана 13.2 (Убрзање).
8.3 Отказивање од стране Зајмопримца
Пре Рока за повлачење средстава, Зајмопримац може отказати целокупан или део Расположивог кредита тако што ће Зајмодавцу доставити обавештење три (3) Радна дана раније.
Након пријема таквог обавештења о отказивању, Зајмодавац ће отказати износ који је навео Зајмопримац, под условом да су Дозвољени расходи, као што је наведено у Плану финансирања, покривени на начин задовољавајући за Зајмодавца, осим у случају да Зајмопримац напушта Пројекат.
8.4 Отказивање од стране Зајмодавца
Расположиви кредит ће бити отказан одмах након достављања обавештења Зајмопримцу и одмах ступа на снагу, ако:
(а) Расположиви кредит није једнак нули на дан Рока за повлачење средстава;
(б) До првог Повлачење средстава није дошло до истека рока од четрнаест (14) месеци од одобрења Кредита од стране релевантних органа Зајмодавца, као што се наводи у ставу (Д) Уводних напомена;
(ц) Дошло је до Случаја неизвршења обавеза и он се наставља; или
(д) Дошло је до догађаја наведеног у члану 8.2 (Обавезна превремена отплата);
осим када је у случају ставова (а) и (б) члана 8.4 (Отказивање од стране Зајмодавца), Xxxxxxxxxx je предложио да се одложи Рок за повлачење средстава или рок за прво Повлачење средстава на основу новонасталих финансијских услова који се односе на свако Повлачење средстава у оквиру Расположивог кредита и Зајмопримац се сложио са тим предлогом.
8.5 Ограничења
(а) Сва обавештења о превременој отплати или отказивању коју једна Страна шаље у складу са овим чланом 8 (Превремена отплата и отказивање) биће неопозива и, уколико овим Уговором није другачије предвиђено, у сваком таквом обавештењу потребно је навести датум или датуме када се релевантна превремена отплата или отказивање извршава, као и износ наведене превремене отплате или отказивања.
(б) Зајмопримац неће извршити превремену отплату или отказивање целокупног или дела Xxxxxxx, осим у време и на начин изричито предвиђеним овим Уговором.
(ц) Свака превремена отплата према овом Уговору биће извршена заједно са плаћањем (i) обрачунате камате на износ превремене отплате; (ii) неизмирених накнада; и (iii) Накнаде за превремену отплату из члана 9.3 (Накнада за превремену отплату).
(д) Сваки износ превремене отплате биће примењен на преостале рате обрнутим редоследом доспећа.
(е) Зајмопримац не може поново позајмити целокупан или део Кредита који је превремено отплаћен или отказан.
9. ОБАВЕЗЕ ДОДАТНИХ ПЛАЋАЊА
9.1 Трошкови и расходи
9.1.1 Ако су потребне измене и допуне овог Уговора, Зајмопримац ће рефундирати Зајмодавцу све трошкове (укључујући и правне трошкове) који су разумно настали у вези са проценом, преговорима или испуњавањем тог захтева.
9.1.2 Зајмопримац ће Xxxxxxxxxx рефундирати све трошкове и расходе (укључујући правне трошкове) које је Xxxxxxxxxx имао у вези са спровођењем или очувањем било ког права према овом Уговору.
9.1.3 Зајмопримац ће директно платити или, уколико је примењиво, рефундираће Зајмодавцу у случају авансног плаћања које је Зајмодавац извршио, износ свих трошкова и расхода у вези са трансфером средстава на или за рачун Зајмопримца из Париза до било ког места договореног са Зајмодавцем, као и све накнаде и трошкове трансфера везане за плаћање свих износа доспелих по Кредиту.
9.2 Накнада за отказивање
Ако је Xxxxxx отказан у потпуности или делимично, у складу са условима у члану 8.3 (Отказивање од стране Зајмопримца) и/или
8.4 (Отказивање од стране Зајмодавца) ставова (а), (б) и (ц), Зајмопримац ће платити Накнаду за отказивање која износи два и по процента (2.5%) отказаног износа Кредита.
Свака Xxxxxxx за отказивање доспева и платива је на Xxxxx плаћања који следи одмах након отказивања целокупног или дела Xxxxxxx.
9.3 Накнада за превремену отплату
Због било каквог губитка који је Зајмодавац претрпео, као резултат превремене отплате целокупног или дела Кредита у складу са чланом 8.1 (Добровољна превремена отплата) или 8.2 (Обавезна превремена отплата), Зајмопримац ће платити Зајмодавцу накнаду једнаку укупном износу:
- Компензацијске накнада за превремену отплату; и
- било којих трошкова насталих услед прекида било које трансакције која се односи на заштићену каматну стопу коју је Зајмодавац успоставио у вези са превремено отплаћеним износом.
9.4 Порези и дажбине
9.4.1 Трошкови регистрације
Зајмопримац ће директно платити или, уколико је примењиво, рефундираће Зајмодавцу у случају авансног плаћања које је Зајмодавац извршио, износ свих таксених марки, регистрације или сличних такси плативих у вези са Уговором, као и могућим изменама и допунама истог.
9.4.2 Порез по одбитку
Зајмопримац се обавезује да ће сва плаћањa извршена према Зајмодавцу по овом Уговору бити ослобођен Пореза по одбитку у складу са међудржавним Споразумом између Републике Србије и Француске Републике, од 25. фебруара 2019. године.
Ако је Xxxxx по одбитку обавезан према закону, Зајмопримац се обавезује да ће обрачунати бруто износ сваког плаћања, тако да Зајмодавац добије износ једнак изн осу који би доспевао да није било Xxxxxx по одбитку.
Зајмопримац ће Xxxxxxxxxx рефундирати све расходе и/или Порезе за рачун Зајмопримца које је Зајмодавац платио (ако је примењиво), са изузетком свих Пореза који доспевају у Француској.
9.5 Додатни трошкови
Зајмопримац ће Xxxxxxxxxx платити у року од десет (10) Радних дана на захтев Зајмодавца све Додатне трошкове које је Зајмодавац сносио: (i) ступања на снагу било ког новог закона или прописа, или измена и допуна, или било какве промене у тумачењу или примени постојећих закона и прописа; или (ii) усаглашености са законима или прописима донесеним након Датума потписивања.
За потребе овог члана, „Додатни трошкови” означавају:
(i) Сваки трошак настао након Датума потписивања услед догађаја наведених у првом ставу овог члана и онај који није узет у обзир од стране Зајмодавца како би испунио финансијске услове Кредита; или
(ii) Свако умањење износа доспелог и плативог према овом Уговору,
који је сносио Зајмодавац као резултат (i) стављања Кредита на располагање Зајмопримцу; или (ii) преузимања или реализације обавеза које проистичу из овог Уговора.
9.6 Накнада за валуту
Уколико било који износ који Зајмопримац дугује према овом Уговору, или било који налог, пресуда или одлука донета или дата у вези са том сумом, мора бити конвертована из валуте у којој је платива у другу валуту за потребе:
(i) подношења захтева или доказа против Зајмопримца; или
(ii) прибављање или спровођење налога, пресуде или одлуке у вези са било којим налогом, пресудом или одлуком везаном за било који парнични или арбитражни поступак;
9.7 Рокови
Зајмопримац ће обештетити Зајмодавца и у року од десет (10) Радна дана од дана пријема захтева Зајмодавца, у складу са законом, платити Зајмодавцу износ било ког трошка, губитка или обавеза које проистичу или су резултат конверзије, укључујући било какво одступање између: (A) девизног курса коришћеног за конверзију релевантне суме из прве валуте у другу валуту; и (Б) девизног курса или курсева на располагању Зајмодавцу у тренутку пријема те суме. Ова обавеза обештећења Xxxxxxxxxx независна је од других обавеза Зајмопримца према овом Уговору.
Зајмопримац се одриче било ког права које би могао имати у било којој јурисдикцији на плаћање било ког износа доспелог према овом Уговору у валути или валутној јединици која није она која је наведена као валута плаћања.
Свака одштета или рефундација платива од стране Зајмопримца Xxxxxxxxxx у складу са чланом 9 (Обавезе додатних плаћања) доспева и платива је на Датум плаћања одмах након околности које су за резултат дале релевантну одштету или рефундацију.
Не доводећи у питање горе наведено, свака одштета која се плаћа у вези са превременом отплатом у складу са чланом 9.3 (Накнада за превремену отплату) доспева и платива је на датум релевантне превремене отплате.
10. ИЗЈАВЕ И ГАРАНЦИЈЕ
Све изјаве и гаранције наведене у овој тачки 10 (Изјаве и гаранције) даје Зајмопримац у корист Зајмодавца на Датум потписивања. За све изјаве и гаранције у члану 10 (Изјаве и гаранције) се такође сматра да је Зајмопримац дао на датум када су испуњени сви предуслови наведену у Делу III Прилога 4 (Предуслови) на Датум сваког захтева за повлачење средстава, на Датум сваког повлачења средстава и сваки Датум плаћања, осим што се сматра да је Зајмодавац понављајуће изјаве садржане у члану 10.9 (Нема обмањујућих информација) дао у односу на информације које је Зајмопримац доставио од датума када је изјава последњи пут дата.
10.1 Надлежност и одобрење
Зајмопримац има надлежност да склопи, изврши и достави овај Уговор и Пројектна документа и да изврши све предвиђене обавезе. Зајмопримац је предузео све неопходне мере да одобри склапање извршење и испоруку овог Уговора и трансакције предвиђене овим Уговором и Пројектним документима.
10.2 Валидност и прихватљивост доказа Сва одобрења потребна:
(а) да Xxxxxxxxxxx омогуће да на законит начин склопи и изврши своја права и поштује своје обавезе које проистичу из овог Уговора и Пројектних докумената; и
(б) да овај Уговор и Пројектна документа учини прихватљивим доказима пред судовима у јурисдикцији Зајмопримца или у арбитражном поступку, као што је дефинисано у члану 17 (Меродавно право, извршење и одабир пребивалишта),
прибављена су и правоснажна су и важећа и не постоје околности које би могле резултирати укидањем, необнављањем или изменама целокупних или дела тих Одобрења.
10.3 Обавезе
Обавезе које је Зајмопримац преузео према овом Уговору и Пројектним документима у складу су са свим законима и прописима примењивим на Зајмопримца у његовој јурисдикцији и представљају правоснажне, валидне, обавезујуће и извршиве обавезе које су на снази у складу са писаним условима који се на њих односе.
10.4 Нема подношења нити таксених марки
По законима јурисдикције оснивања Зајмопримца, није неопходно да се Уговор подноси, евидентира или заводи код било ког суда или другог органа у тој јурисдикцији нити да се плаћају било какве таксене марке, регистрација, нити сличне таксе нити накнаде на или у вези да Уговором нити предвиђеним трансакцијама из Уговора.
10.5 Трансфер средстава
Сви износи доспели које Зајмопримац дугује Зајмодавцу према овом Уговору без обзира да ли се ради о главници или камати, или камати за кашњење у плаћању, Накнади за превремену отплату, пратећим трошковима и расходима или било којој другој суми могу се слободно конвертовати и преносити.
Ова изјава остаје правоснажна и важећа до потпуне исплате свих износа који се дугују Зајмодавцу. У случају да Зајмодавац продужи период отплате Кредите, неће бити потребно додатно потврђивати ову изјаву.
Зајмопримац ће на време прибавити евре неопходне за испуњење обавеза према овој изјави.
Уколико би дошло до било каквог проблема по питању права Зајмодавца да конвертује и слободно изврши трансфер било које суме према овом Уговору из било ког разлога, укључујући али не ограничавајући се на: (i) ступање на снагу било ког закона или прописа, или измена и допуна на исте, или било какве промене у тумачењу или примени постојећих закона или прописа; или (ii) усаглашености са законима или прописима донесеним након Xxxxxx потписивања, Зајмопримац ће без одлагања обезбедити сва потребна уверења/потврде од стране надлежних институција (укључујући и Народну банку Србије) како би се омогућило да сви доспели износи према овом Уговору буду слободно конвертибилни и преносиви.
10.6 Несукобљавање са другим обавезама
Ступање на снагу и спровођење трансакција предвиђених овим Уговором и Пројектним документима од стране Зајмопримца нису у сукобу са било којим домаћим и страним примењивим законом или прописом, уставом (или било којим сличним документима) нити било којим другим обавезујућим споразумом или инструментом за Зајмопримца или који утичу на било коју његову имовину.
10.7 Меродавно право и извршење
(а) Избор француског закона као меродавног права за потребе овог Уговора биће признат и спроведен од стране судова и арбитражних трибунала у јурисдикцији Зајмопримца.
(б) Свака пресуда везана за овај Уговор добијена пред француским судом или било која одлука арбитражног трибунала биће призната и спроведена у јурисдикцији у којој је Зајмопримац основан.
10.8 Нема неизвршења обавеза
Ниједан случај неизвршења обавезе не траје нити би се разумно могло очекивати да ће до њега доћи.
Ниједан случај неизвршења обавезе од стране Зајмопримца не траје у вези са било којим другим обавезујућим споразумом или којима подлеже његова имовина а који има или је разумно вероватно да ће имати Материјално негативан утицај.
10.9 Нема обмањујућих информација
Све информације и документа које Зајмопримац достави Xxxxxxxxxx су биле истините, тачне и ажуриране на датум када су достављене или, ако је примењиво, на датум када се наводи да ће бити дате и нису промењене, опозване, поништене или измењен под ревидираним условима и нису обмањујуће ни по ком материјалном основу, као резултат пропуста, појаве нових околности нити обелодањивања или необелодањивања било којих информација.
10.10 Пројектна документа
Пројектна документа представљају целокупан споразум који се односи на Пројекат на Датум потписивања и важећа су, обавезујућа и извршна против трећих лица. Пројектна документа нису измењена, раскинута или суспендована без претходног одобрења Зајмодавца од датума када су предата Зајмодавцу и тренутно не постоји спор у вези са валидношћу Пројектних докумената.
10.11 Пројектна одобрења
Сва Пројектна одобрења добијена су или су извршена и правоснажни су и важећи и не постоје околности које би могле резултирати повлачењем, укидањем, необнављањем или изменама било којих Пројектних одобрења у целости или делимично.
10.12 Набавка
Зајмопримац: (i) је добио примерак Релевантних смерница за набавке; и (ii) разуме услове Релевантних смерница за набавке, а посебно оне услове који се односе на све радње које Зајмодавац може предузети у случају кршења Релевантних смернице за набавке.
Зајмопримац је уговорно везан Релевантним смерницама за набавке као да су такве Релевантне смернице за набавке референцом укључене у овај Уговор. Зајмопримац потврђује да су набавка, расподела и извршење уговора који се односе на спровођење пројекта у складу са Релевантним смерницама за набавке.
Зајмопримац је прихватио садржај Изјаве о интегритету АФД-а дате у Прилогу 7 (Изјава о интегритету АФД-а) овог Уговора. Захтеви дефинисани у Изјави о интегритету АФД-а морају формално бити испуњени од стране било ког носиоца уговора који се склапа у оквиру овог Пројекта, и, према томе, по потреби, потребно је да буде укључена у документацији која претходи набавци.
10.13 Рангирање по принципу pari passu
Обавезе плаћања по основу овог Уговора рангирају се минимум pari passu са потраживањима свих других необезбеђених и несубординисаних поверилаца.
10.14 Порекло средстава, Коруптивне радње, преваре и нелојалне праксе Зајмопримац изјављује и гарантује да:
(i) Сва средства која се користе за финансирање Пројекта потичу из средстава овог зајма и зајма Суфинансијера, у складу са Законом о буџету Републике Србије за 2022. годину (Службени гласник Републике Србије, бр. 110/2021);
(ii) Пројекат (а посебно, преговори, додела и реализација било ког уговора који се финансира у оквиру Кредита) није проузроковао Коруптивне радње, преваре нити нелојалну конкуренцију.
10.15 Нема материјалних негативних ефеката
Зајмопримац изјављује и гарантује да се није десио нити је вероватно да ће се десити ни један догађај или околност која би могла имати Материјално негативан ефекат.
10.16 Нема имунитета
Ако и у мери у којој Xxxxxxxxxxx може сада или у будућности у било којој јурисдикцији затражити имунитет за себе или своју имовину и у мери у којој нека јурисдикција гарантује имунитет Зајмопримцу, Зајмопримац неће имати право да захтева за себе или за своју имовину имунитет од тужбе, извршења, заплене или другог правног поступка у вези са овим Уговором у највећој мери дозвољеној законима такве јурисдикције.
Зајмопримац се не одриче било каквог имунитета у односу на било које садашње или будуће (i) „просторије мисије” како је дефинисано Бечком конвенцијом о дипломатски односима, потписаном 1961. године, (ii) „конзуларне просторије” како је дефинисано Бечком конвенцијом о дипломатским односима потписаном 1963. године
(iii) имовина која не може бити предмет трговања, (iv) војних средстава или војне имовине и зграда, оружја и опреме намењих одбрани, државној и јавној безбедности, (v) потраживања чија је потражња забрањена законом, (vi) природних ресурса, предмета за редовну употребу, земље поред басена река и водених постројења у јавном власништву, заштићеног природног и културног наслеђа у јавном власништву, (vii) непокретности у јавном власништву која се делимично или потпуно користи од стране органа Републике Србије, аутономних покрајина или локалних самоуправа у циљу обављања послова, (viii) акције и обвезнице аутономних покрајина и локалних самоуправа у компанијама и јавним предузећима, осим ако је надежни орган пристао на успостављање терета на тим
акцијама и обвезницама, (ix) покретна и непокретна имовина здравствених институција осим ако је хипотека утврђена на основу одлуке Владе (x) новчана средства и финансијски инструменти одређени као финансијски колатерал у складу са законом који уређује финансијско обезбеђење укључујући новчана средства и финансијске инструменте који су заложени у складу са тим законом или (xi) остала имовина која је изузета по основу закона или међународних спорзума.
11. ОБАВЕЗЕ
Обавезе из члана 11 (Обавезе) ступају на снагу Датумом потписивања и остају правоснажне и на снази све докле год је било који износ остао неизмирен, према овом Уговору.
11.1 Поштовање Закона, прописа и обавеза Зајмопримац има обавезу да поштује:
(а) законе и прописе који се односе на њега и/или на Пројекат у свих аспектима, а посебно по питању релевантних закона о заштити животне средине, безбедности и рада; и
(б) све своје обавезе које проистичу из Пројектне документације.
11.2 Одобрења
Зајмопримац ће без одлагања добити и поштовати сва неопходна Одобрења и учиниће све да они остају правоснажни и на снази, која се траже у складу са релевантним законом и прописима како би се омогућило испуњење обавеза према овом Уговору и Пројектној документацији и како би се обезбедила законитост, валидност, спроводивост и прихватљивост доказног средства овог Уговора и све Пројектне документације.
11.3 Пројектна документа
Зајмопримац ће, преко Министарства грађевинарства, саобраћаја и инфраструктуре (МГСИ), Суфинансијеру у име Зајмодавца за потребе добијања сагласности или информација, зависно од случаја, обезбедити примерак било ког Пројектног документа или измена и допуна и неће вршити никакве (нити ће се сагласити) суштинске измене и допуне било ког Пројектног документа без добијања претходне сагласности Суфинансијера.
11.4 Имплементација и одржавање Пројекта Зајмопримац ће, преко МГСИ:
(i) имплементирати Пројекат у складу са опште прихваћеним принципима сигурности и у складу са важећим техничким стандардима; и
(ii) одржати Пројектну имовину у складу са свим важећим законима и прописима у функционалном и одржаваном стању, и користиће ту имовину у складу са њеном сврхом и свим релевантним законима и прописима.
11.5 Набавка
По питању набавки, Зајмопримац ће поштовати и спроводити све релевантне Процедуре набавке приликом доделе и реализације уговора склопљених у вези са Пројектом.
Зајмопримац ће предузети све неопходне мере и кораке у циљу ефикасне имплементације Примењивих процедура набавке.
Зајмопримац, преко МГСИ, се обавезује да ће:
(i) поднети (a) ажуриране планове набавке; и (б) уговоре за које је потребна претходна ревизија од стране Суфинансијера.
(ii) Зајмодавцу обезбедити примерак извештаја о евалуацији у случају уговора за које је обавезна претходна ревизија, (укључујући и извештај о преквалификацији и извештај о ужем избору кандидата, уколико је примењиво) истовремено када се подноси и Суфинансијеру. Уколико понуђач не испуњава захтеве АФД-а који се односе на финансијску подобност, Зајмодавац ће без одлагања информисати Суфинансијера и Зајмопримца. Суфинансијер и Xxxxxxxxxx ће након тога консултовати Зајмопримца како би се утврдио адекватан правац деловања;
(iii) У случају уговора за које је потребна накнадна ревизија, укључити у пројектни задатак за ревизију из члана 3.4.3(х) (Контрола-Ревизија) анализу контрола и оперативних процедура Зајмопримца које се односе на поштовање захтева АФД-а по питању финансијске подобности у смислу Листе финансијских санкција;
(iv) Чувати сва документа који се односе на уговоре који су предмет накнадне ревизије током пројектне имплементације и до две године након Рока за коришћење средстава;
(v) У случају уговора који подлежу међународном поступку набавке, објавити јавни позив на интернет страници xxxx://xxx.xxxxxxxx.xxx;
Поред Релевантних процедура набавке, учиниће да Изјава о интегритету АФД-а дата у Прилогу 7 (Изјава о интегритету АФД- а), буде обавезујући документ за све Извођаче укључене у неконкурентне поступке набавки.
11.6 Одговорност у области животне средине и социјалних питања
11.6.1 Имплементација мера из области животне средине и социјалних питања
У циљу промовисања одрживог развоја, Стране су сагласне да је неопходно промовисати поштовање међународно признатих стандарда у области животне средине и рада, укључујући и фундаменталне конвенције Међународне организације рада („МОР”) и међународне законе и прописе који се односе на животну средину, а који су примењиви у јурисдикцији Зајмопримац. У ту сврху, Зајмопримац ће:
по питању својих пословних активности:
(a) поштовати међународне стандарде који се односе на заштиту животне средине, као и законе о раду, а посебно фундаменталне конвенције МОР-а и међународне конвенције о животној средини, у складу са примењивим законима и прописима земље у којој се Пројекат реализује.
по питању Пројекта: