Common use of Disbursements Reimbursements Clause in Contracts

Disbursements Reimbursements. (a) Immediately upon the issuance of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from Agent a participation in such Letter of Credit and each drawing thereunder in an amount equal to such Lender’s Commitment Percentage of the Maximum Face Amount of such Letter of Credit and the amount of such drawing, respectively. (b) In the event of any request for a drawing under a Letter of Credit by the beneficiary or transferee thereof, Agent will promptly notify Borrower. Provided that Borrower shall have received such notice, Borrower shall reimburse (such obligation to reimburse Agent shall sometimes be referred to as a “Reimbursement Obligation”) Agent prior to 12:00 Noon on each date that an amount is paid by Agent under any Letter of Credit (each such date, a “Drawing Date”) in an amount equal to the amount so paid by Agent. In the event Borrower fail to reimburse Agent for the full amount of any drawing under any Letter of Credit by 12:00 Noon on the Drawing Date, Agent will promptly notify each Lender thereof, and Borrower shall be deemed to have requested that an Advance maintained as a Domestic Rate Loan be made by Lenders to be disbursed on the Drawing Date under such Letter of Credit, subject to the amount of the unutilized portion of the lesser of Maximum Revolving Advance Amount or the Formula Amount and subject to Section 8.2 hereof. Any notice given by Agent pursuant to this Section 2.13(b) may be oral if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice. (c) Each Lender shall upon any notice pursuant to Section 2.13(b) make available to Agent an amount in immediately available funds equal to its Commitment Percentage of the amount of the drawing, whereupon the participating Lenders shall (subject to Section 2.13(d)) each be deemed to have made an Advance maintained as a Domestic Rate Loan to Borrower in that amount. If any Lender so notified fails to make available to Agent the amount of such Lender’s Commitment Percentage of such amount by no later than 2:00 p.m. on the Drawing Date, then interest shall accrue on such Lender’s obligation to make such payment, from the Drawing Date to the date on which such Lender makes such payment (i) at a rate per annum equal to the Federal Funds Effective Rate during the first three days following the Drawing Date and (ii) at a rate per annum equal to the rate applicable to Revolving Advances maintained as a Domestic Rate Loans on and after the fourth day following the Drawing Date. Agent will promptly give notice of the occurrence of the Drawing Date, but failure of Agent to give any such notice on the Drawing Date or in sufficient time to enable any Lender to effect such payment on such date shall not relieve such Lender from its obligation under this Section 2.13(c), provided that such Lender shall not be obligated to pay interest as provided in Section 2.13(c)(i) and (ii) until and commencing from the date of receipt of notice from Agent of a drawing. (d) With respect to any unreimbursed drawing that is not converted into an Advance maintained as a Domestic Rate Loan to Borrower in whole or in part as contemplated by Section 2.13(b), because of Loan Parties’ failure to satisfy the conditions set forth in Section 8.2 (other than any notice requirements) or for any other reason, Borrower shall be deemed to have incurred from Agent a borrowing (each a “Letter of Credit Borrowing”) in the amount of such drawing. Such Letter of Credit Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the rate per annum applicable to an Advance maintained as a Domestic Rate Loan. Each Lender’s payment to Agent pursuant to Section 2.13(c) shall be deemed to be a payment in respect of its participation in such Letter of Credit Borrowing and shall constitute a “Participation Advance” from such Lender in satisfaction of its Participation Commitment under this Section 2.11. (e) Each Lender’s Participation Commitment shall continue until the last to occur of any of the following events: (x) Agent ceases to be obligated to issue or cause to be issued Letters of Credit hereunder; (y) no Letter of Credit issued or created hereunder remains outstanding and uncancelled and (z) all Persons (other than Loan Parties) have been fully reimbursed for all payments made under or relating to Letters of Credit.

Disbursements Reimbursements. 3.1 Tranche 1 (and if applicable, Tranche 3) shall be disbursed in credit portions directly to the Borrower or, as the case may be, the Exporter to such account and to such financial institution as specified by the Borrower or, as the case may be, the Exporter to the Facility Agent. The Borrower hereby irrevocably agrees that - under Clause 3.2.b) below - only the Exporter shall have the exclusive right to request payments under Tranche 1 (and if applicable, Tranche 3) and that such direct payments to the Exporter will constitute disbursements of Tranche 1 (and if applicable, Tranche 3) to the Borrower under this Credit Agreement. 3.2 a) Immediately In the event that prior to or after fulfilment of the conditions precedent to disbursements / reimbursements under the Credit Agreement or the waiver thereof by the Facility Agent acting on behalf of the Lenders, payments are made by the Borrower to the Exporter in the amount or amounts of the respective Partial Contract Value (or Partial Additional Contract Value) out of funds other than out of this Credit Agreement in and towards satisfaction and fulfilment of sums due to the Exporter resulting from the Export Contracts, then reimbursements under Tranche 1 (and if applicable, Tranche 3) will be made by the Lenders through the Facility Agent against presentation by the Borrower to the Facility Agent of a certificate as per Annex 1a or 1d hereto in an amount or amounts equal to the aggregate principal amount or amounts of such payments in the maximum amount of the respective Partial Contract Value (or Partial Additional Contract Value) to the Borrower to such account as specified by the Borrower to the Facility Agent. The Borrower and the Lenders acknowledge and agree to the Exporter’s intent to provide the Facility Agent, upon any delivery having been made/service having been rendered under the issuance Export Contracts for which the Borrower shall make direct payment to the Exporter out of each Letter other funds than of Creditthis Credit Agreement before being reimbursed in accordance with this Clause 3.2.a), each Lender with copies of the respective delivery documents or invoice, as the case may be. It is the common understanding of the parties hereto that the dispatch of such copies to the Facility Agent shall be deemed tofor information purposes only; therefore shall neither the failure of the Exporter to send such copies prevent the Lenders in any way from making reimbursements, nor shall the delivery of such copies oblige the Lenders to make reimbursements under this Clause 3.2.a), in particular not in case of any of the conditions precedent for disbursement / reimbursement not being fulfilled. b) With effect from the date of fulfilment of all conditions precedent to disbursements / reimbursements under this Credit Agreement or the waiver thereof by the Facility Agent acting on behalf of the Lenders, Tranche 1 (and hereby irrevocably and unconditionally agrees toif applicable, purchase from Agent Tranche 3) shall be disbursed directly to the Exporter on a participation in such Letter of Credit and each drawing thereunder pro rata basis against deliveries made/services rendered in an amount equal to such Lender’s Commitment Percentage 85% of the Maximum Face Amount value of such Letter deliveries/services only upon presentation by the Exporter to the Facility Agent of Credit a certificate as per Annex 1b hereof and of the following documents: In case of equipment deliveries - a copy of the commercial invoice issued by the Exporter; - a copy of the international waybill relating to such equipment. In case of licenses - a copy of the commercial invoice issued by the Exporter; - a copy of the acceptance certificate, signed by the Borrower and the amount Exporter. The Facility Agent shall accept and make disbursements against the aforementioned documents as they are being presented to it without any obligation of such drawingexamination thereof; in particular the Facility Agent shall not be obliged to verify whether or not any documents delivered to it under this Clause 3.2.b) are in compliance with the Uniform Customs and Practices for Documentary Credits, respectively1993 Revision, ICC Publication No. 500. 3.3 Disbursements / reimbursements under Tranche 1 (band if applicable, Tranche 3) In as per Clause 3.2 shall be made in minimum amounts of USD 1,000,000.00 provided, however, that, in the event that 85% of the value of any request documents presented to the Facility Agent during a calendar month for disbursements under Tranche 1 (and if applicable, Tranche 3) or the amount mentioned in a drawing reimbursement certificate as per Annex 1a or 1d, as the case may be, is less than the aforementioned minimum amount, disbursements or reimbursements under a Letter Tranche 1 (and if applicable, Tranche 3) will be made at the end of Credit by the beneficiary or transferee thereof, Agent will promptly notify Borrower. Provided that Borrower shall have received such notice, Borrower shall reimburse (such obligation to reimburse Agent shall sometimes be referred to as a “Reimbursement Obligation”) Agent prior to 12:00 Noon on each date that an amount is paid by Agent under any Letter of Credit (each such date, a “Drawing Date”) relevant calendar month in an one amount equal to 85% of the amount so paid aggregate value of all documents or equal to the aggregate value of all certificates, as the case may be, received by Agent. In the event Borrower fail Lenders during that month in relation to reimburse Agent which disbursement or reimbursement under Tranche 1 (and if applicable, Tranche 3) has not previously been made. 3.4 Disbursement under Tranche 2 (and if applicable, Tranche 4) for the full amount financing of any drawing up to 100% of the Insurance Premium (or as the case may be, the Additional Insurance Premium) shall in either event, whether the Insurance Premium has become due and payable prior to or after the fulfilment of all conditions precedent to disbursements / reimbursements under any Letter this Credit Agreement or the waiver thereof by the Facility Agent, acting on behalf of Credit by 12:00 Noon on the Drawing Date, Agent will promptly notify each Lender thereofLenders, and provided that the Borrower shall be deemed to have requested that an Advance maintained as a Domestic Rate Loan be made by Lenders to be disbursed on has paid the Drawing Date under such Letter of Credit, subject to the total amount of the unutilized portion Insurance Premium (or the Additional Insurance Premium) to the Facility Agent as per Clause 11.2 hereof, be made without any request or action by the Borrower upon fulfilment of the lesser conditions precedent to disbursements / reimbursements or waiver thereof by the Lenders through the Facility Agent to the Borrower to such account as will be specified by the Borrower to the Facility Agent. 3.5 Each disbursement or reimbursement of Maximum Revolving Advance Amount the Credits or any portion thereof under this Credit Agreement shall be made at the Formula Amount and subject latest on the 5th Banking Day after all conditions precedent applicable to Section 8.2 hereof. Any notice given by Agent such disbursement or reimbursement pursuant to this Section 2.13(b) Clause 4 hereof have been fulfilled or waived, as the case may be oral if immediately confirmed in writing; be, and provided that the lack date of such an immediate confirmation shall disbursement or reimbursement falls on a Banking Day within the Availability Period and further provided that the Lenders through the Facility Agent have not affect the conclusiveness or binding effect exercised any of such noticetheir rights under Clause 12 hereof. (c3.6 The Borrower may - in case of disbursements according to Clause 3.2.b) Each Lender shall upon any notice pursuant to Section 2.13(b) make available to Agent an amount in immediately available funds equal to its Commitment Percentage - only waive disbursement of the amount Credits, in full or in part, with the prior written consent of the drawing, whereupon Lenders and the participating Lenders shall (subject to Section 2.13(d)) each be deemed to have made an Advance maintained as a Domestic Rate Loan to Borrower in that amount. If any Lender so notified fails to make available to Agent the amount of such Lender’s Commitment Percentage of such amount by no later than 2:00 p.m. on the Drawing Date, then interest shall accrue on such Lender’s obligation to make such payment, from the Drawing Date to the date on which such Lender makes such payment (i) at a rate per annum equal to the Federal Funds Effective Rate during the first three days following the Drawing Date and (ii) at a rate per annum equal to the rate applicable to Revolving Advances maintained as a Domestic Rate Loans on and after the fourth day following the Drawing Date. Agent will promptly give notice of the occurrence of the Drawing Date, but failure of Agent to give any such notice on the Drawing Date or in sufficient time to enable any Lender to effect such payment on such date shall not relieve such Lender from its obligation under this Section 2.13(c), provided that such Lender shall not be obligated to pay interest as provided in Section 2.13(c)(i) and (ii) until and commencing from the date of receipt of notice from Agent of a drawingExporter. (d) With respect to any unreimbursed drawing that is not converted into an Advance maintained as a Domestic Rate Loan to Borrower in whole or in part as contemplated by Section 2.13(b), because of Loan Parties’ failure to satisfy the conditions set forth in Section 8.2 (other than any notice requirements) or for any other reason, Borrower shall be deemed to have incurred from Agent a borrowing (each a “Letter of Credit Borrowing”) in the amount of such drawing. Such Letter of Credit Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the rate per annum applicable to an Advance maintained as a Domestic Rate Loan. Each Lender’s payment to Agent pursuant to Section 2.13(c) shall be deemed to be a payment in respect of its participation in such Letter of Credit Borrowing and shall constitute a “Participation Advance” from such Lender in satisfaction of its Participation Commitment under this Section 2.11. (e) Each Lender’s Participation Commitment shall continue until the last to occur of any of the following events: (x) Agent ceases to be obligated to issue or cause to be issued Letters of Credit hereunder; (y) no Letter of Credit issued or created hereunder remains outstanding and uncancelled and (z) all Persons (other than Loan Parties) have been fully reimbursed for all payments made under or relating to Letters of Credit.

Disbursements Reimbursements. (a) Immediately upon the issuance of each Letter of Credit, each Lender holding a Revolving Commitment shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from Agent Issuing Bank a participation in such each Letter of Credit and each drawing thereunder in an amount equal to such Lender’s Revolving Commitment Percentage of the Maximum Face Undrawn Amount of such Letter of Credit (as in effect from time to time) and the amount of such drawing, respectively. (b) In the event of any request for a drawing under a Letter of Credit by the beneficiary or transferee thereof, Agent Issuing Bank will promptly notify BorrowerAdministrative Agent and the Borrower Representative. Provided that Regardless of whether the Borrower Representative shall have received such notice, Borrower Borrowers shall reimburse (such obligation to reimburse Agent Issuing Bank shall sometimes be referred to as a “Reimbursement Obligation”) Agent Issuing Bank prior to 12:00 Noon Noon, on each date that an amount is paid by Agent Issuing Bank under any Letter of Credit (each such date, a “Drawing Date”) in an amount equal to the amount so paid by AgentIssuing Bank. In the event Borrower Borrowers fail to reimburse Agent Issuing Bank for the full amount of any drawing under any Letter of Credit by 12:00 Noon Noon, on the Drawing Date, Agent Issuing Bank will promptly notify Administrative Agent and each Lender holding a Revolving Commitment thereof, and Borrower Borrowers shall be automatically deemed to have requested that an Advance a Revolving Loan maintained as a Domestic Base Rate Loan be made by Lenders to be disbursed on the Drawing Date under such Letter of Credit, subject and Lenders holding the Revolving Commitments shall be unconditionally obligated to fund such Revolving Loan (all whether or not the amount of the unutilized portion of the lesser of Maximum Revolving Advance Amount conditions specified in Section 3.02 are then satisfied or the Formula Amount and subject commitments of Lenders to make Revolving Loans hereunder have been terminated for any reason) as provided for in Section 8.2 hereof2.13(c) immediately below. Any notice given by Agent Issuing Bank pursuant to this Section 2.13(b) may be oral if immediately promptly confirmed in writing; provided that the lack of such an immediate a confirmation shall not affect the conclusiveness or binding effect of such notice. (c) Each Lender holding a Revolving Commitment shall upon any notice pursuant to Section 2.13(b) make available to Issuing Bank through Administrative Agent at the Payment Office an amount in immediately available funds equal to its Revolving Commitment Percentage (subject to any contrary provisions of Section 2.20) of the amount of the drawing, whereupon the participating Lenders shall (subject to Section 2.13(d)) each be deemed to have made an Advance a Revolving Loan maintained as a Domestic Base Rate Loan to Borrower Borrowers in that amount. If any Lender holding a Revolving Commitment so notified fails to make available to Agent Administrative Agent, for the benefit of Issuing Bank, the amount of such Lender’s Revolving Commitment Percentage of such amount by no later than 2:00 p.m. on the Drawing Date, then interest shall accrue on such Lender’s obligation to make such payment, from the Drawing Date to the date on which such Lender makes such payment (i) at a rate per annum equal to the Federal Funds Effective Rate during the first three (3) days following the Drawing Date and (ii) at a rate per annum equal to the rate applicable to Revolving Advances Loans maintained as a Domestic Base Rate Loans Loan on and after the fourth day following the Drawing Date. Administrative Agent and Issuing Bank will promptly give notice of the occurrence of the Drawing Date, but failure of Administrative Agent or Issuing Bank to give any such notice on the Drawing Date or in sufficient time to enable any Lender holding a Revolving Commitment to effect such payment on such date shall not relieve such Lender from its obligation obligations under this Section 2.13(c), provided that such Lender shall not be obligated to pay interest as provided in Section 2.13(c)(i) and (ii) until and commencing from the date of receipt of notice from Administrative Agent or Issuing Bank of a drawing. (d) With respect to any unreimbursed drawing that is not converted into an Advance a Revolving Loan maintained as a Domestic Base Rate Loan to Borrower Borrowers in whole or in part as contemplated by Section 2.13(b), because of Loan PartiesBorrowers’ failure to satisfy the conditions set forth in Section 8.2 3.02 hereof (other than any notice requirements) or for any other reason, Borrower Borrowers shall be deemed to have incurred from Administrative Agent a borrowing (each a “Letter of Credit Borrowing”) in the amount of such drawing. Such Letter of Credit Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the rate per annum applicable to an Advance a Revolving Loan maintained as a Domestic Base Rate Loan. Each applicable Lender’s payment to Administrative Agent pursuant to Section 2.13(c) shall be deemed to be a payment in respect of its participation in such Letter of Credit Borrowing and shall constitute a “Participation Advance” from such Lender in satisfaction of its Participation Commitment in respect of the applicable Letter of Credit under this Section 2.112.13. (e) Each applicable Lender’s Participation Commitment in respect of the Letters of Credit shall continue until the last to occur of any of the following events: (x) Agent Issuing Bank ceases to be obligated to issue or cause to be issued Letters of Credit hereunder; (y) no Letter of Credit issued or created hereunder remains outstanding and uncancelled uncancelled; and (z) all Persons (other than Loan PartiesBorrowers) have been fully reimbursed for all payments made under or relating to Letters of Credit.

Disbursements Reimbursements. (a) Immediately upon the issuance of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from Agent a participation in such Letter of Credit and each drawing thereunder in an amount equal to such Lender’s Commitment Percentage of the Maximum Face Amount of such Letter of Credit and the amount of such drawing, respectively. (b) In the event of any request for a drawing under a Letter of Credit by the beneficiary or transferee thereof, Agent will promptly notify Borrower. Provided that Borrower shall have received such notice, Borrower shall reimburse (such obligation to reimburse Agent shall sometimes be referred to as a “Reimbursement Obligation”) Agent prior to 12:00 Noon on each date that an amount is paid by Agent under any Letter of Credit (each such date, a “Drawing Date”) in an amount equal to the amount so paid by Agent. In the event Borrower fail to reimburse Agent for the full amount of any drawing under any Letter of Credit by 12:00 Noon on the Drawing Date, Agent will promptly notify each Lender thereof, and Borrower shall be deemed to have requested that an Advance in the currency denoted on the applicable Letter of Credit maintained as a Domestic Rate Loan be made by Lenders to be disbursed on the Drawing Date under such Letter of Credit, subject to the amount of the unutilized portion of the lesser of Maximum Revolving Advance Amount or the Formula Amount and subject to Section 8.2 hereof. Any notice given by Agent pursuant to this Section 2.13(b) may be oral if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice. (c) Each Lender shall upon any notice pursuant to Section 2.13(b) make available to Agent an amount in immediately available funds equal to its Commitment Percentage of the amount of the drawing, whereupon the participating Lenders shall (subject to Section 2.13(d)) each be deemed to have made an Advance maintained as a Domestic Rate Loan to Borrower in that amountamount in the currency denoted on the applicable Letter of Credit. If any Lender so notified fails to make available to Agent the amount of such Lender’s Commitment Percentage of such amount by no later than 2:00 p.m. on the Drawing Date, then interest shall accrue on such Lender’s obligation to make such payment, from the Drawing Date to the date on which such Lender makes such payment (i) at a rate per annum equal to the Federal Funds Effective Rate during the first three days following the Drawing Date and (ii) at a rate per annum equal to the rate applicable to Revolving Advances maintained as a Domestic Rate Loans on and after the fourth day following the Drawing Date. Agent will promptly give notice of the occurrence of the Drawing Date, but failure of Agent to give any such notice on the Drawing Date or in sufficient time to enable any Lender to effect such payment on such date shall not relieve such Lender from its obligation under this Section 2.13(c), provided that such Lender shall not be obligated to pay interest as provided in Section 2.13(c)(i) and (ii) until and commencing from the date of receipt of notice from Agent of a drawing. (d) With respect to any unreimbursed drawing that is not converted into an Advance maintained as a Domestic Rate Loan to Borrower in whole or in part as contemplated by Section 2.13(b), because of Loan Parties’ failure to satisfy the conditions set forth in Section 8.2 (other than any notice requirements) or for any other reason, Borrower shall be deemed to have incurred from Agent a borrowing (each a “Letter of Credit Borrowing”) in the amount of such drawing. Such Letter of Credit Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the rate per annum applicable to an Advance maintained as a Domestic Rate LoanLoan applicable to the currency in which the Letter of Credit is denoted. Each Lender’s payment to Agent pursuant to Section 2.13(c) shall be deemed to be a payment in respect of its participation in such Letter of Credit Borrowing and shall constitute a “Participation Advance” from such Lender in satisfaction of its Participation Commitment under this Section 2.11. (e) Each Lender’s Participation Commitment shall continue until the last to occur of any of the following events: (x) Agent ceases to be obligated to issue or cause to be issued Letters of Credit hereunder; (y) no Letter of Credit issued or created hereunder remains outstanding and uncancelled and (z) all Persons (other than Loan Parties) have been fully reimbursed for all payments made under or relating to Letters of Credit.

Disbursements Reimbursements. 3.1 Tranche 1 (and if applicable, Tranche 3) shall be disbursed in credit portions directly to the Borrower or, as the case may be, the Exporter to such account and to such financial institution as specified by the Borrower or, as the case may be, the Exporter to the Facility Agent. The Borrower hereby irrevocably agrees that - under Clause 3.2.b) below - only the Exporter shall have the exclusive right to request payments under Tranche 1 (and if applicable, Tranche 3) and that such direct payments to the Exporter will constitute disbursements of Tranche 1 (and if applicable, Tranche 3) to the Borrower under this Credit Agreement. a) Immediately upon In the issuance event that prior to or after fulfilment of each Letter the conditions precedent to disbursements / reimbursements under the Credit Agreement or the waiver thereof by the Facility Agent acting on behalf of Creditthe Lenders, each Lender payments are made by the Borrower to the Exporter in the amount or amounts of the respective Partial Contract Value (or Partial Additional Contract Value) out of funds other than out of this Credit Agreement in and towards satisfaction and fulfilment of sums due to the Exporter resulting from the Export Contracts, then reimbursements under Tranche 1 (and if applicable, Tranche 3) will be made by the Lenders through the Facility Agent against presentation by the Borrower to the Facility Agent of a certificate as per Annex 1a or 1d hereto in an amount or amounts equal to the aggregate principal amount or amounts of such payments in the maximum amount of the respective Partial Contract Value (or Partial Additional Contract Value) to the Borrower to such account as specified by the Borrower to the Facility Agent. b) With effect from the date of fulfilment of all conditions precedent to disbursements / reimbursements under this Credit Agreement or the waiver thereof by the Facility Agent acting on behalf of the Lenders, Tranche 1 (and if applicable, Tranche 3) shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from Agent disburseddirectly to the Exporter on a participation in such Letter pro rata basis against delivery of Credit and each drawing thereunder equipment/provision of license products in an amount equal to such Lender’s Commitment Percentage 85% of the Maximum Face Amount value of such Letter deliveries/provision of Credit license products only upon presentation by the Exporter to the Facility Agent of a certificate as per Annex 1b hereof and of the following documents: - a copy of the commercial invoice issued by the Exporter; - CMR or airway xxxx or post/courier receipt, as the case may be relating to such equipment. - a copy of the commercial invoice issued by the Exporter; - a copy of the written notice sent by the Exporter to the Borrower confirming the granting of the license products. The Facility Agent shall accept and make disbursements against the aforementioned documents as they are being presented to it without any obligation of examination thereof; in particular the Facility Agent shall not be obliged to verify whether or not any documents delivered to it under this Clause 3.2.b) are in compliance with the Uniform Customs and Practices for Documentary Credits, 1993 Revision, ICC Publication No. 500. 3.3 Disbursements / reimbursements under Tranche 1 (and if applicable, Tranche 3) as per Clause 3.2 shall be made in minimum amounts of USD 1,000,000.00 provided, however, that, in the event that 85% of the value of any documents presented to the Facility Agent during a calendar month for disbursements under Tranche 1 (and if applicable, Tranche 3) or the amount mentioned in a reimbursement certificate as per Annex 1a or 1d, as the case may be, is less than the aforementioned minimum amount, disbursements or reimbursements under Tranche 1 (and if applicable, Tranche 3) will be made at the end of such drawing, respectively. (b) In the event of any request for a drawing under a Letter of Credit by the beneficiary or transferee thereof, Agent will promptly notify Borrower. Provided that Borrower shall have received such notice, Borrower shall reimburse (such obligation to reimburse Agent shall sometimes be referred to as a “Reimbursement Obligation”) Agent prior to 12:00 Noon on each date that an amount is paid by Agent under any Letter of Credit (each such date, a “Drawing Date”) relevant calendar month in an one amount equal to 85% of the amount so paid aggregate value of all documents or equal to the aggregate value of all certificates, as the case may be, received by Agent. In the event Borrower fail Lenders during that month in relation to reimburse Agent which disbursements or reimbursements under Tranche 1 (and if applicable, Tranche 3) have not previously been made. 3.4 Disbursement under Tranche 2 (and if applicable, Tranche 4) for the full amount financing of any drawing up to 100% of the Insurance Premium (or as the case may be, the Additional Insurance Premium) shall in either event, whether the Insurance Premium has become due and payable prior to or after the fulfilment of all conditions precedent to disbursements / reimbursements under any Letter this Credit Agreement or the waiver thereof by the Facility Agent, acting on behalf of Credit by 12:00 Noon on the Drawing Date, Agent will promptly notify each Lender thereofLenders, and provided that the Borrower shall be deemed to have requested that an Advance maintained as a Domestic Rate Loan be made by Lenders to be disbursed on has paid the Drawing Date under such Letter of Credit, subject to the total amount of the unutilized portion Insurance Premium (or the Additional Insurance Premium) to the Facility Agent as per Clause 11.2 hereof, be made without any request or action by the Borrower upon fulfilment of the lesser conditions precedent to disbursements / reimbursements or waiver thereof by the Lenders through the Facility Agent to the Borrower to such account as will be specified by the Borrower to the Facility Agent. 3.5 Each disbursement or reimbursement of Maximum Revolving Advance Amount the Credits or any portion thereof under this Credit Agreement shall be made at the Formula Amount and subject latest on the 5th Banking Day after all conditions precedent applicable to Section 8.2 hereof. Any notice given by Agent such disbursement or reimbursement pursuant to this Section 2.13(b) Clause 4 hereof have been fulfilled or waived, as the case may be oral if immediately confirmed in writing; be, and provided that the lack Lenders through the Facility Agent have not exercised any of such an immediate confirmation shall not affect the conclusiveness or binding effect of such noticetheir rights under Clause 12 hereof. 3.6 Unless otherwise instructed by Hermes, the Lenders may (cbut are not obliged to do so) Each Lender shall upon refuse to disburse the Credits or any notice pursuant to Section 2.13(b) make available to Agent an amount in immediately available funds equal to its Commitment Percentage portion thereof after the due date of the amount first repayment instalment laid down in Clause 8 hereof. The Credits will then be reduced by the corresponding amount. 3.7 The Borrower may - in case of disbursements according to Clause 3.2.b) - only waive disbursement of the drawingCredits, whereupon in full or in part, with the participating Lenders shall (subject to Section 2.13(d)) each be deemed to have made an Advance maintained as a Domestic Rate Loan to Borrower in that amount. If any Lender so notified fails to make available to Agent the amount of such Lender’s Commitment Percentage of such amount by no later than 2:00 p.m. on the Drawing Date, then interest shall accrue on such Lender’s obligation to make such payment, from the Drawing Date to the date on which such Lender makes such payment (i) at a rate per annum equal to the Federal Funds Effective Rate during the first three days following the Drawing Date and (ii) at a rate per annum equal to the rate applicable to Revolving Advances maintained as a Domestic Rate Loans on and after the fourth day following the Drawing Date. Agent will promptly give notice prior written consent of the occurrence of Lenders and the Drawing Date, but failure of Agent to give any such notice on the Drawing Date or in sufficient time to enable any Lender to effect such payment on such date shall not relieve such Lender from its obligation under this Section 2.13(c), provided that such Lender shall not be obligated to pay interest as provided in Section 2.13(c)(i) and (ii) until and commencing from the date of receipt of notice from Agent of a drawingExporter. (d) With respect to any unreimbursed drawing that is not converted into an Advance maintained as a Domestic Rate Loan to Borrower in whole or in part as contemplated by Section 2.13(b), because of Loan Parties’ failure to satisfy the conditions set forth in Section 8.2 (other than any notice requirements) or for any other reason, Borrower shall be deemed to have incurred from Agent a borrowing (each a “Letter of Credit Borrowing”) in the amount of such drawing. Such Letter of Credit Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the rate per annum applicable to an Advance maintained as a Domestic Rate Loan. Each Lender’s payment to Agent pursuant to Section 2.13(c) shall be deemed to be a payment in respect of its participation in such Letter of Credit Borrowing and shall constitute a “Participation Advance” from such Lender in satisfaction of its Participation Commitment under this Section 2.11. (e) Each Lender’s Participation Commitment shall continue until the last to occur of any of the following events: (x) Agent ceases to be obligated to issue or cause to be issued Letters of Credit hereunder; (y) no Letter of Credit issued or created hereunder remains outstanding and uncancelled and (z) all Persons (other than Loan Parties) have been fully reimbursed for all payments made under or relating to Letters of Credit.

Disbursements Reimbursements. 3.1 Tranche 1 (and if applicable, Tranche 3) shall be disbursed in credit portions directly to the Borrower or, as the case may be, the Exporter to such account and to such financial institution as specified by the Borrower or, as the case may be, the Exporter to the Facility Agent. The Borrower hereby irrevocably agrees that - under Clause 3.2.b) below - only the Exporter shall have the exclusive right to request payments under Tranche 1 (and if applicable, Tranche 3) and that such direct payments to the Exporter will constitute disbursements of Tranche 1 (and if applicable, Tranche 3) to the Borrower under this Credit Agreement. 3.2 a) Immediately In the event that prior to or after fulfilment of the conditions precedent to disbursements / reimbursements under the Credit Agreement or the waiver thereof by the Facility Agent acting on behalf of the Lenders, payments are made by the Borrower to the Exporter in the amount or amounts of the respective Partial Contract Value (or Partial Additional Contract Value) out of funds other than out of this Credit Agreement in and towards satisfaction and fulfilment of sums due to the Exporter resulting from the Export Contract, then reimbursements under Tranche 1 (and if applicable, Tranche 3) will be made by the Lenders through the Facility Agent against presentation by the Borrower to the Facility Agent of a certificate as per Annex 1a or 1d hereto in an amount or amounts equal to the aggregate principal amount or amounts of such payments in the maximum amount of the respective Partial Contract Value (or Partial Additional Contract Value) to the Borrower to such account as specified by the Borrower to the Facility Agent. The Borrower and the Lenders acknowledge and agree to the Exporter’s intent to provide the Facility Agent, upon any delivery having been made/service having been rendered under the issuance Export Contract for which the Borrower shall make direct payment to the Exporter out of each Letter other funds than of Creditthis Credit Agreement before being reimbursed in accordance with this Clause 3.2.a), each Lender with copies of the respective delivery documents or invoice, as the case may be. It is the common understanding of the parties hereto that the dispatch of such copies to the Facility Agent shall be deemed tofor information purposes only; therefore shall neither the failure of the Exporter to send such copies prevent the Lenders in any way from making reimbursements, nor shall the delivery of such copies oblige the Lenders to make reimbursements under this Clause 3.2.a), in particular not in case of any of the conditions precedent for disbursement / reimbursement not being fulfilled. b) With effect from the date of fulfilment of all conditions precedent to disbursements / reimbursements under this Credit Agreement or the waiver thereof by the Facility Agent acting on behalf of the Lenders, Tranche 1 (and hereby irrevocably and unconditionally agrees toif applicable, purchase from Agent Tranche 3) shall be disburseddirectly to the Exporter on a participation in such Letter of Credit and each drawing thereunder pro rata basis against deliveries made/services rendered in an amount equal to such Lender’s Commitment Percentage 85% of the Maximum Face Amount value of such Letter deliveries/services only upon presentation by the Exporter to the Facility Agent of Credit a certificate as per Annex 1b hereof and of the following documents: In case of equipment deliveries - a copy of the commercial invoice issued by the Exporter; - a copy of the international waybill relating to such equipment. In case of licenses - a copy of the commercial invoice issued by the Exporter; - a copy of the acceptance certificate, signed by the Borrower and the amount Exporter. The Facility Agent shall accept and make disbursements against the aforementioned documents as they are being presented to it without any obligation of such drawingexamination thereof; in particular the Facility Agent shall not be obliged to verify whether or not any documents delivered to it under this Clause 3.2.b) are in compliance with the Uniform Customs and Practices for Documentary Credits, respectively1993 Revision, ICC Publication No. 500. 3.3 Disbursements / reimbursements under Tranche 1 (band if applicable, Tranche 3) In as per Clause 3.2 shall be made in minimum amounts of USD 1,000,000.00 provided, however, that, in the event that 85% of the value of any request documents presented to the Facility Agent during a calendar month for disbursements under Tranche 1 (and if applicable, Tranche 3) or the amount mentioned in a drawing reimbursement certificate as per Annex 1a or 1d, as the case may be, is less than the aforementioned minimum amount, disbursements or reimbursements under a Letter Tranche 1 (and if applicable, Tranche 3) will be made at the end of Credit by the beneficiary or transferee thereof, Agent will promptly notify Borrower. Provided that Borrower shall have received such notice, Borrower shall reimburse (such obligation to reimburse Agent shall sometimes be referred to as a “Reimbursement Obligation”) Agent prior to 12:00 Noon on each date that an amount is paid by Agent under any Letter of Credit (each such date, a “Drawing Date”) relevant calendar month in an one amount equal to 85% of the amount so paid aggregate value of all documents or equal to the aggregate value of all certificates, as the case may be, received by Agent. In the event Borrower fail Lenders during that month in relation to reimburse Agent which disbursement or reimbursement under Tranche 1 (and if applicable, Tranche 3) has not previously been made. 3.4 Disbursement under Tranche 2 (and if applicable, Tranche 4) for the full amount financing of any drawing up to 100% of the Insurance Premium (or as the case may be, the Additional Insurance Premium) shall in either event, whether the Insurance Premium has become due and payable prior to or after the fulfilment of all conditions precedent to disbursements / reimbursements under any Letter this Credit Agreement or the waiver thereof by the Facility Agent, acting on behalf of Credit by 12:00 Noon on the Drawing Date, Agent will promptly notify each Lender thereofLenders, and provided that the Borrower shall be deemed to have requested that an Advance maintained as a Domestic Rate Loan be made by Lenders to be disbursed on has paid the Drawing Date under such Letter of Credit, subject to the total amount of the unutilized portion Insurance Premium (or the Additional Insurance Premium) to the Facility Agent as per Clause 11.2 hereof, be made without any request or action by the Borrower upon fulfilment of the lesser conditions precedent to disbursements / reimbursements or waiver thereof by the Lenders through the Facility Agent to the Borrower to such account as will be specified by the Borrower to the Facility Agent. 3.5 Each disbursement or reimbursement of Maximum Revolving Advance Amount the Credits or any portion thereof under this Credit Agreement shall be made at the Formula Amount and subject latest on the 5th Banking Day after all conditions precedent applicable to Section 8.2 hereof. Any notice given by Agent such disbursement or reimbursement pursuant to this Section 2.13(b) Clause 4 hereof have been fulfilled or waived, as the case may be oral if immediately confirmed in writing; be, and provided that the lack Lenders through the Facility Agent have not exercised any of such an immediate confirmation shall not affect the conclusiveness or binding effect of such noticetheir rights under Clause 12 hereof. 3.6 Unless otherwise instructed by Hermes, the Lenders may (cbut are not obliged to do so) Each Lender shall upon refuse to disburse the Credits or any notice pursuant to Section 2.13(b) make available to Agent an amount in immediately available funds equal to its Commitment Percentage portion thereof after the due date of the amount first repayment instalment laid down in Clause 8 hereof. The Credits will then be reduced by the corresponding amount. 3.7 The Borrower may - in case of disbursements according to Clause 3.2.b) - only waive disbursement of the drawingCredits, whereupon in full or in part, with the participating Lenders shall (subject to Section 2.13(d)) each be deemed to have made an Advance maintained as a Domestic Rate Loan to Borrower in that amount. If any Lender so notified fails to make available to Agent the amount of such Lender’s Commitment Percentage of such amount by no later than 2:00 p.m. on the Drawing Date, then interest shall accrue on such Lender’s obligation to make such payment, from the Drawing Date to the date on which such Lender makes such payment (i) at a rate per annum equal to the Federal Funds Effective Rate during the first three days following the Drawing Date and (ii) at a rate per annum equal to the rate applicable to Revolving Advances maintained as a Domestic Rate Loans on and after the fourth day following the Drawing Date. Agent will promptly give notice prior written consent of the occurrence of Lenders and the Drawing Date, but failure of Agent to give any such notice on the Drawing Date or in sufficient time to enable any Lender to effect such payment on such date shall not relieve such Lender from its obligation under this Section 2.13(c), provided that such Lender shall not be obligated to pay interest as provided in Section 2.13(c)(i) and (ii) until and commencing from the date of receipt of notice from Agent of a drawingExporter. (d) With respect to any unreimbursed drawing that is not converted into an Advance maintained as a Domestic Rate Loan to Borrower in whole or in part as contemplated by Section 2.13(b), because of Loan Parties’ failure to satisfy the conditions set forth in Section 8.2 (other than any notice requirements) or for any other reason, Borrower shall be deemed to have incurred from Agent a borrowing (each a “Letter of Credit Borrowing”) in the amount of such drawing. Such Letter of Credit Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the rate per annum applicable to an Advance maintained as a Domestic Rate Loan. Each Lender’s payment to Agent pursuant to Section 2.13(c) shall be deemed to be a payment in respect of its participation in such Letter of Credit Borrowing and shall constitute a “Participation Advance” from such Lender in satisfaction of its Participation Commitment under this Section 2.11. (e) Each Lender’s Participation Commitment shall continue until the last to occur of any of the following events: (x) Agent ceases to be obligated to issue or cause to be issued Letters of Credit hereunder; (y) no Letter of Credit issued or created hereunder remains outstanding and uncancelled and (z) all Persons (other than Loan Parties) have been fully reimbursed for all payments made under or relating to Letters of Credit.