Common use of Creditors Allowed Clause in Contracts

Creditors Allowed. The concept of Creditors Allowed is only applicable for the cases of Guaranteed Indebtedness Allowed. The Creditors Allowed shall have the Grantor’s authorization to accredit their status as such. To that end, the Creditor Allowed may be: i. Any multilateral lending institution of which the State of the Republic of Peru is a member; ii. Any institution, export credit agency or government agency of any country with which the State of the Republic of Peru maintains diplomatic relations; iii. Any international financial institution classified as a First-Class Bank in Circular Letter No. 030- 2018-BCRP, issued by the Central Reserve Bank of Peru, or any other circular letter that subsequently amends or replaces it, but only to the extent that it incorporates new institutions. iv. Any other international financial institution with a risk rating not lower than Peru’s sovereign debt rating corresponding to a long-term foreign currency assigned by an international risk agency grading the Republic of Peru. v. Any national financial institution with a local risk rating not lower than (“A”), evaluated by a national risk rating agency duly authorized by the Superintendency of the Stock Market (SMV, by its Spanish initials); vi. All institutional investors, seen as such by the prevailing legal regulations (such as Pension Fund Administrators – AFP), that directly or indirectly acquire any type of transferable security issued by i) the Concession Holder, ii) the trustee or securitization firm established in Peru or abroad that acquires rights and/or assets derived from the Concession Contract; vii. Any natural or legal person that directly or indirectly acquires any type of transferable security or debt instrument issued by the Concession Holder by public or private tender or by means of a trust fund, investment funds, or securitization firm established in Peru or abroad. It is expressly stated that under no circumstances shall be allowed for the shareholders, partners or capital holders of the Concession Holder to be -directly or indirectly- Creditors Allowed. The Creditors Allowed shall not belong to the same economic group, as set out in Resolution SMV 019- 2015-SMV/01 or standard superseding it. In the situations indicated in subparagraphs (i) through (v), to be considered a Creditor Allowed, it shall have such a condition at the date of signing its corresponding financing Contract. In the case of syndicated loans, the Creditors Allowed may be represented by an Administrative Agent or Security Trustee. Likewise, for transferable securities, the Creditors Allowed shall be represented by the bondholders’ representative (as set out in Article 87 of the Stock Market Law and Article 325 of the General Corporations Law).

Creditors Allowed. The concept of Creditors Allowed is only applicable for the cases of Guaranteed Indebtedness Allowed. The Creditors Allowed shall have the Grantor’s authorization to accredit their status as such. To that end, the Creditor Allowed may be: i. Any multilateral lending institution of which the State of the Republic of Peru is a member; ii. Any institution, export credit agency or government agency of any country with which the State of the Republic of Peru maintains diplomatic relations; iii. Any international financial institution classified as a First-Class Bank in Circular Letter No. 030- 2018-BCRP, issued by the Central Reserve Bank of Peru, or any other circular letter that subsequently amends or replaces it, but only to the extent that it incorporates new institutions. iv. Any other international financial institution with a risk rating not lower than Peru’s sovereign debt rating corresponding to a long-term foreign currency assigned by an international risk agency grading the Republic of Peru. v. Any national financial institution with a local risk rating not lower than (“A”), evaluated by a national risk rating agency duly authorized by the Superintendency of the Stock Market (SMV, by its Spanish initials); vi. All institutional investors, seen as such by the prevailing legal regulations (such as Pension Fund Administrators – AFP), that directly or indirectly acquire any type of transferable security issued by i) the Concession Holder, ii) the trustee or securitization firm established in Peru or abroad that acquires rights and/or assets derived from the Concession Contract; vii. Any natural or legal person that directly or indirectly acquires any type of transferable security or debt instrument issued by the Concession Holder by public or private tender or by means of a trust fund, investment funds, or securitization firm established in Peru or abroad. It is expressly stated that under no circumstances shall be allowed for the shareholders, partners or capital holders of the Concession Holder to be -directly or indirectly- Creditors Allowed. The Creditors Allowed shall not belong to the same economic group, as set out in Resolution SMV 019- 019-2015-SMV/01 or standard superseding it. In the situations indicated in subparagraphs (i) through (v), to be considered a Creditor Allowed, it shall have such a condition at the date of signing its corresponding financing Contractagreement. In the case of syndicated loans, the Creditors Allowed may be represented by an Administrative Agent or Security Trustee. Likewise, for transferable securities, the Creditors Allowed shall be represented by the bondholders’ representative (as set out in Article 87 of the Stock Market Law and Article 325 of the General Corporations Law).

Creditors Allowed. The concept of Creditors Allowed is only applicable for the cases of Guaranteed Indebtedness Allowed. The Creditors Allowed shall have the Grantor’s authorization to accredit their status as such. To that end, the Creditor Allowed may be: i. Any multilateral lending institution of which the State of the Republic of Peru is a member; ii. Any institution, export credit agency or government agency of any country with which the State of the Republic of Peru maintains diplomatic relations; iii. Any international financial institution classified as a First-Class Bank in Circular Letter No. 030- 2018-BCRP, issued by the Central Reserve Bank of Peru, or any other circular letter that subsequently amends or replaces it, but only to the extent that it incorporates new institutions. iv. Any other international financial institution with a risk rating not lower than Peru’s sovereign debt rating corresponding to a long-term foreign currency assigned by an international risk agency grading the Republic of Peru. v. Any national financial institution with a local risk rating not lower than (“A”), evaluated by a national risk rating agency duly authorized by the Superintendency of the Stock Market (SMV, by its Spanish initials); vi. All institutional investors, seen as such by the prevailing legal regulations (such as Pension Fund Administrators – AFP), that directly or indirectly acquire any type of transferable security issued by i) the Concession Holder, ii) the trustee or securitization firm established in Peru or abroad that acquires rights and/or assets derived from the Concession Contract; vii. Any natural or legal person that directly or indirectly acquires any type of transferable security or debt instrument issued by the Concession Holder by public or private tender or by means of a trust fund, investment funds, or securitization firm established in Peru or abroad. It is expressly stated that under no circumstances shall be allowed for the shareholders, partners or capital holders of the Concession Holder to be -directly or indirectly- Creditors Allowed. The Creditors Allowed shall not belong to the same economic group, as set out in Resolution SMV 019- 2015-SMV/01 or standard superseding it. In the situations indicated in subparagraphs (i) through (v), to be considered a Creditor Allowed, it shall have such a condition at the date of signing its corresponding financing Contractagreement. In the case of syndicated loans, the Creditors Allowed may be represented by an Administrative Agent or Security Trustee. Likewise, for transferable securities, the Creditors Allowed shall be represented by the bondholders’ representative (as set out in Article 87 of the Stock Market Law and Article 325 of the General Corporations Law).

Creditors Allowed. The concept of Creditors Allowed is only applicable for the cases of Guaranteed Indebtedness Allowed. The Creditors Allowed shall have the Grantor’s authorization to accredit their status as such. To that end, the Creditor Allowed may be: i. Any multilateral lending institution of which the State of the Republic of Peru is a member; ii. Any institution, export credit agency or government agency of any country with which the State of the Republic of Peru maintains diplomatic relations; iii. Any international financial institution classified as a First-Class Bank in Circular Letter No. 030- 2018-BCRP, issued by the Central Reserve Bank of Peru, or any other circular letter that subsequently amends or replaces it, but only to the extent that it incorporates new institutions. iv. Any other international financial institution with a risk rating not lower than Peru’s sovereign debt rating corresponding to a long-term foreign currency assigned by an international risk agency grading the Republic of Peru. v. Any national financial institution with a local risk rating not lower than (“A”), evaluated by a national risk rating agency duly authorized by the Superintendency of the Stock Market (SMV, by its Spanish initials); vi. All institutional investors, seen as such by the prevailing legal regulations (such as Pension Fund Administrators – AFP), that directly or indirectly acquire any type of transferable security issued by i) the Concession Holder, ii) the trustee or securitization firm established in Peru or abroad that acquires rights and/or assets derived from the Concession Contract; vii. Any natural or legal person that directly or indirectly acquires any type of transferable security or debt instrument issued by the Concession Holder by public or private tender or by means of a trust fund, investment funds, or securitization firm established in Peru or abroad. It is expressly stated that under no circumstances shall be allowed for the shareholders, partners or capital holders of the Concession Holder to be -directly or indirectly- Creditors Allowed. The Creditors Allowed shall not belong to the same economic group, as set out in Resolution SMV 019- 019-2015-SMV/01 or standard superseding it. In the situations indicated in subparagraphs (i) through (v), to be considered a Creditor Allowed, it shall have such a condition at the date of signing its corresponding financing Contract. In the case of syndicated loans, the Creditors Allowed may be represented by an Administrative Agent or Security Trustee. Likewise, for transferable securities, the Creditors Allowed shall be represented by the bondholders’ representative (as set out in Article 87 of the Stock Market Law and Article 325 of the General Corporations Law).