Common use of Additional terms of the Letter of Credit Clause in Contracts

Additional terms of the Letter of Credit. 3.3.1. Unless otherwise decided by the Bank and/or unless otherwise specified in the Agreement, if the Letter of Credit Amount is approved in any currency and the corresponding Letter of Credit or a portion thereof is issued/paid in another currency, the official rate of exchange established by the National Bank of Georgia effective at the moment of issuance/payment shall apply. 3.3.2. If the Letter of Credit Amount is approved in any currency and the corresponding Letter of Credit or a portion thereof is issued/paid in another currency, the excess of the Letter of Credit Amount due to a change in the exchange rate shall not be considered a breach of this Agreement and the Customer shall duly fulfill the obligations undertaken by Other agreement associated with the Agreement. 3.3.3. Notwithstanding the conclusion of the Agreement, the Bank may at any time refuse to serve the Letter of Credit determined by the Agreement or any portion thereof if the Customer’s property and/or intangible property (including the Account) is subjected to any restriction, including restriction under the public law, which endangers fulfillment of obligations undertaken by the Customer before the Bank. 3.3.4. If at the time of charging (paying) of the Commission Fee and/or Penalty (Fine) provided by the Agreement, the Legislation (including the instructions of the National Bank of Georgia) establishes rates of Commission Fee and/or Penalty (Fine) lower than the Commission Fee and/or Penalty (Fine) provided by the Agreement, the maximum interest rates (if any) of the Commission Fee and/or Penalty (Fine) set by the Legislation (including the instructions of the National Bank of Georgia) shall apply. 3.3.5. If the Letter of Credit Agreement provides for the existence of a Tolerance, for the calculation of any amounts payable by the Customer to the Bank (including unambiguously Commission Fee, Penalty) which are calculated from the Letter of Credit Amount, the Letter of Credit Amount shall be the Letter of Credit Amount plus the amount of estimated surplus provided by the Tolerance. 3.3.6. The Customer shall, upon request by the Bank, be obliged to reimburse to the Bank all Commission Fees, Penalties and/or charges that may be imposed on the Bank, including due to the failure to fulfill its obligations by the Customer’s Beneficiary. The Customer shall also be obliged to reimburse Commission Fees, Penalties and/or charges that are not paid by the Customer’s Beneficiary to the Bank within the prescribed term. The term of payment by the Customer under this Section shall be determined according to the Bank’s request. 3.3.7. The Customer shall notify the Bank in writing about any financial arrears arising within the Letter of Credit, the Interest accrued on it (including as the unearned benefit), Commission Fee and Penalty, as well as any other indebtedness, 14 (fourteen) calendar days before its maturity, including before the refinancing from other financial institutions). 3.3.8. Any Commission Fee, money, funds and/or consideration payable to the Bank under the Agreement or/and other Agreement associated with the Agreement are indicated net of taxes (including without limitation any tax withholding liabilities in any jurisdiction on indirect taxes).

Additional terms of the Letter of Credit. 3.3.1. Unless otherwise decided by the Bank and/or unless otherwise specified in the Agreement, if the Letter of Credit Amount is approved in any currency and the corresponding Letter of Credit or a portion thereof is issued/paid in another currency, the official rate of exchange established by the National Bank of Georgia effective at the moment of issuance/payment shall apply. 3.3.2. If the Letter of Credit Amount is approved in any currency and the corresponding Letter of Credit or a portion thereof is issued/paid in another currency, the excess of the Letter of Credit Amount due to a change in the exchange rate shall not be considered a breach of this Agreement and the Customer shall duly fulfill the obligations undertaken by Other agreement associated with the Agreement. 3.3.3. Notwithstanding the conclusion of the Agreement, the Bank may at any time refuse to serve the Letter of Credit determined by the Agreement or any portion thereof if the Customer’s property and/or intangible property (including the Account) is subjected to any restriction, including restriction under the public law, which endangers fulfillment of obligations undertaken by the Customer before the Bank. 3.3.4. If at the time of charging (paying) of the Commission Fee and/or Penalty (Fine) provided by the Agreement, the Legislation (including the instructions of the National Bank of Georgia) establishes rates of Commission Fee and/or Penalty (Fine) lower than the Commission Fee and/or Penalty (Fine) provided by the Agreement, the maximum interest rates (if any) of the Commission Fee and/or Penalty (Fine) set by the Legislation (including the instructions of the National Bank of Georgia) shall apply. 3.3.5. If the Letter of Credit Agreement provides for the existence of a Tolerance, for the calculation of any amounts payable by the Customer to the Bank (including unambiguously Commission Fee, Penalty) which are calculated from the Letter of Credit Amount, the Letter of Credit Amount shall be the Letter of Credit Amount plus the amount of estimated surplus provided by the Tolerance. 3.3.6. The Customer shall, upon request by the Bank, be obliged to reimburse to the Bank all Commission Fees, Penalties and/or charges that may be imposed on the Bank, including due to the failure to fulfill its obligations by the Customer’s Beneficiary. The Customer shall also be obliged to reimburse Commission Fees, Penalties and/or charges that are not paid by the Customer’s Beneficiary to the Bank within the prescribed term. The term of payment by the Customer under this Section shall be determined according to the Bank’s request. 3.3.7. The Customer shall notify the Bank in writing about any financial arrears arising within the Letter of Credit, the Interest accrued on it (including as the unearned benefit), Commission Fee and Penalty, as well as any other indebtedness, 14 (fourteen) calendar days before its maturity, including before the refinancing from other financial institutions). 3.3.8. Any Commission Fee, money, funds and/or consideration payable to the Bank under the Agreement or/and other Agreement associated with the Agreement are indicated net of taxes (including without limitation any tax withholding liabilities in any jurisdiction on indirect taxes).

Additional terms of the Letter of Credit. 3.3.1. Unless otherwise decided by the Bank and/or unless otherwise specified in the Agreement, if the Letter of Credit Amount is approved in any currency and the corresponding Letter of Credit or a portion thereof is issued/paid in another currency, the official rate of exchange established by the National Bank of Georgia effective at the moment of issuance/payment shall apply. 3.3.2. If the Letter of Credit Amount is approved in any currency and the corresponding Letter of Credit or a portion thereof is issued/paid in another currency, the excess of the Letter of Credit Amount due to a change in the exchange rate shall not be considered a breach of this Agreement and the Customer shall duly fulfill the obligations undertaken by Other agreement associated with the Agreement. 3.3.3. Notwithstanding the conclusion of the Agreement, the Bank may at any time refuse to serve the Letter of Credit determined by the Agreement or any portion thereof if the Customer’s property and/or intangible property (including the Account) is subjected to any restriction, including restriction under the public law, which endangers fulfillment of obligations undertaken by the Customer before the Bank. 3.3.4. If at the time of charging (paying) of the Commission Fee and/or Penalty (Fine) provided by the Agreement, the Legislation (including the instructions of the National Bank of Georgia) establishes rates of Commission Fee and/or Penalty (Fine) lower than the Commission Fee and/or Penalty (Fine) provided by the Agreement, the maximum interest rates (if any) of the Commission Fee and/or Penalty (Fine) set by the Legislation (including the instructions of the National Bank of Georgia) shall apply. 3.3.5. If the Letter of Credit Agreement provides for the existence of a Tolerance, for the calculation of any amounts payable by the Customer to the Bank (including unambiguously Commission Fee, Penalty) which are calculated from the Letter of Credit Amount, the Letter of Credit Amount shall be the Letter of Credit Amount plus the amount of estimated surplus provided by the Tolerance. 3.3.6. The Customer shall, upon request by the Bank, be obliged to reimburse to the Bank all Commission Fees, Penalties and/or charges that may be imposed on the Bank, including due to the failure to fulfill its obligations by the Customer’s Beneficiary. The Customer shall also be obliged to reimburse Commission Fees, Penalties and/or charges that are not paid by the Customer’s Beneficiary to the Bank within the prescribed term. The term of payment by the Customer under this Section shall be determined according to the Bank’s request. 3.3.7. The Customer shall notify the Bank in writing about any financial arrears arising within the Letter of Credit, the Interest accrued on it (including as the unearned benefit), Commission Fee and Penalty, as well as any other indebtedness, 14 (fourteen) calendar days before its maturity, including before the refinancing from other financial institutions). 3.3.8. Any Commission Fee, money, funds and/or consideration payable to the Bank under the Agreement or/and other Agreement associated with the Agreement are indicated net of taxes (including without limitation any tax withholding liabilities in any jurisdiction on indirect taxes).the