Common use of ECA Premium refund Clause in Contracts

ECA Premium refund. (a) If (i) on 31 October 2031, the Guarantor’s highest unsecured corporate credit rating is at least BB+ (S&P's or equivalent Mxxxx'x), and (ii) no Event of Default (howsoever defined) has occurred and is continuing and no loss in connection with the ECA Cover Document has been incurred by SACE in respect of any Financial Indebtedness granted to any company within the Group and supported by SACE, the Borrower may request in writing to SACE through the ECA Agent (who shall promptly notify SACE upon receipt of such written request from the Borrower) a one-off refund of the Second Instalment of the ECA Premium referred to in sub-paragraph (a)(ii) of Clause 11.5 (ECA Premium) (the "Rating Premium Refund"). The Rating Premium Refund shall be calculated as being an amount equal to the difference between: (i) the amount of each portion of the Second Instalment already paid on each Utilisation Date and (ii) what each portion of the Second Instalment already paid on each Utilisation Date would have amounted to had the Guarantor’s highest unsecured corporate credit rating between S&P’s or equivalent Mxxxx’x at the time of each Utilisation been BB+ or higher multiplied by each percentage ‘P’ defined as below: ‘P’ equals to one (1) minus: (i) Total WAL minus Residual WAL divided by (ii) Total WAL. (b) For the purpose of the above: (i) the number of years between the effective Delivery Date and each respective Utilisation Date is defined as "Pre-Delivery WAL" for each pro rata portion of the Second Instalment;

ECA Premium refund. (a) If (i) on 31 October 2031, the Guarantor’s 's highest unsecured corporate credit rating is at least BB+ (S&P's or equivalent Mxxxx'x), and (ii) no Event of Default (howsoever defined) has occurred and is continuing and no loss in connection with the ECA Cover Document has been incurred by SACE in respect of any Financial Indebtedness granted to any company within the Group and supported by SACE, the Borrower may request in writing to SACE through the ECA Agent (who shall promptly notify SACE upon receipt of such written request from the Borrower) a one-off refund of the Second Instalment of the ECA Premium referred to in sub-paragraph (a)(ii) of Clause 11.5 (ECA Premium) (the "Rating Premium Refund"). The Rating Premium Refund shall be calculated as being an amount equal to the difference between: (i) the amount of each portion of the Second Instalment already paid on each Utilisation Date and (ii) what each portion of the Second Instalment already paid on each Utilisation Date would have amounted to had the Guarantor’s 's highest unsecured corporate credit rating between S&P’s 's or equivalent Mxxxx’x Mxxxx'x at the time of each Utilisation been BB+ or higher multiplied by each percentage ‘'P’ ' defined as below: ‘'P’ ' equals to one (1) minus: (i) Total WAL minus Residual WAL divided by (ii) Total WAL. (b) For the purpose of the above: (i) the number of years between the effective Delivery Date and each respective Utilisation Date is defined as "Pre-Delivery WAL" for each pro rata portion of the Second Instalment;

ECA Premium refund. (a) If (i) on 31 October 2031, the Guarantor’s highest unsecured corporate credit rating is at least BB+ (S&P's or equivalent Mxxxx'xXxxxx'x), and (ii) no Event of Default (howsoever defined) has occurred and is continuing and no loss in connection with the ECA Cover Document has been incurred by SACE in respect of any Financial Indebtedness granted to any company within the Group and supported by SACE, the Borrower may request in writing to SACE through the ECA Agent (who shall promptly notify SACE upon receipt of such written request from the Borrower) a one-off refund of the Second Instalment of the ECA Premium referred to in sub-paragraph (a)(ii) of Clause 11.5 (ECA Premium) (the "Rating Premium Refund"). The Rating Premium Refund shall be calculated as being an amount equal to the difference between: (i) the amount of each portion of the Second Instalment already paid on each Utilisation Date and (ii) what each portion of the Second Instalment already paid on each Utilisation Date would have amounted to had the Guarantor’s highest unsecured corporate credit rating between S&P’s or equivalent Mxxxx’x Xxxxx’x at the time of each Utilisation been BB+ or higher multiplied by each percentage ‘P’ defined as below: ‘P’ equals to one (1) minus: (i) Total WAL minus Residual WAL divided by (ii) Total WAL. (b) For the purpose of the above: (i) the number of years between the effective Delivery Date and each respective Utilisation Date is defined as "Pre-Delivery WAL" for each pro rata portion of the Second Instalment;

ECA Premium refund. (a) If (i) on 31 October 2031, the Guarantor’s highest unsecured corporate credit rating is at least BB+ (S&P's or equivalent Mxxxx'x), and (ii) no Event of Default (howsoever defined) has occurred and is continuing and no loss in connection with the ECA Cover Document has been incurred by SACE in respect of any Financial Indebtedness granted to any company within the Group and supported by SACE, the Borrower may request in writing to SACE through the ECA Agent (who shall promptly notify SACE upon receipt of such written request from the Borrower) a one-off refund of the Second Instalment of the ECA Premium referred to in sub-paragraph (a)(ii) of Clause 11.5 (ECA Premium) (the "Rating Premium Refund"). The Rating Premium Refund shall be calculated as being an amount equal to the difference between: (i) the amount of each portion of the Second Instalment already paid on each Utilisation Date and (ii) what each portion of the Second Instalment already paid on each Utilisation Date would have amounted to had the Guarantor’s highest unsecured corporate credit rating between S&P’s or equivalent Mxxxx’x at the time of each Utilisation been BB+ or higher multiplied by each percentage ‘P’ defined as below: ‘P’ equals to one (1) minus: (i) Total WAL minus Residual WAL divided by (ii) Total WAL. (b) For the purpose of the above: (i) the number of years between the effective Delivery Date and each respective Utilisation Date is defined as "Pre-Delivery WAL" for each pro rata portion of the Second Instalment;