Common use of Ex-Im Bank Approval and Political Risk Transactions Clause in Contracts

Ex-Im Bank Approval and Political Risk Transactions. (i) A Guarantee of the relevant Credit with respect to each transaction approved by Ex-Im Bank (each, a “Transaction”) consisting of the sale of Goods and Services to be exported from the United States to a Purchaser by an Exporter (or Exporters) and/or Ancillary Services Provider (or Ancillary Services Providers) in one or more shipments (and of any related sale of Special Ancillary Services or Local Cost Goods and Services) to be financed under such Credit, shall be evidenced by Ex-Im Bank’s issuance of a letter of approval in the form of Annex B hereto (as amended from time to time, an “Ex-Im Bank Approval”). Ex-Im Bank shall have the unconditional right to approve, deny or modify any Request for Ex-Im Bank Approval. Any modifications Ex-Im Bank requires with respect to any Transaction shall be set forth in the Ex-Im Bank Approval with respect to such Transaction. (ii) If Section 3 (Types of Guarantee Risk Coverage and Credit) of the Ex-Im Bank Approval with respect to a particular Transaction states that: (A) the Guarantee of the relevant Credit is a Political Risk Guarantee, then for all purposes of such Transaction, the terms of this Agreement shall be deemed to be modified as provided in the MGA Political Risk Supplement; or

Ex-Im Bank Approval and Political Risk Transactions. (i) A Guarantee of the relevant Credit with respect to each transaction approved by Ex-Im Bank (each, a “Transaction”) consisting of the sale of Goods and Services to be exported from the United States to a Purchaser by an Exporter (or Exporters) and/or Ancillary Services Provider (or Ancillary Services Providers) in one or more shipments (and of any related sale of Special Ancillary Services or Local Cost Goods and Services) to be financed under such Credit, shall be evidenced by Ex-Im Bank’s issuance of a letter of approval in the form of Annex B hereto (as amended from time to time, an “Ex-Im Bank Approval”). Ex-Im Bank shall have the unconditional right to approve, deny or modify any Request for Ex-Im Bank Approval. Any modifications Ex-Im Bank requires with respect to any Transaction shall be set forth in the Ex-Im Bank Approval with respect to such Transaction. (ii) If Section 3 (Types of Guarantee Risk Coverage and Credit) of the Ex-Im Bank Approval with respect to a particular Transaction states that: (A) the Guarantee of the relevant Credit is a Political Risk Guarantee, then for all purposes of such Transaction, the terms of this Agreement shall be deemed to be modified as provided in the MGA Political Risk Supplement; oror (B) the Guarantee of the relevant Credit is a Foreign Currency Guarantee, then for all purposes of such Transaction, the terms of this Agreement shall be deemed to be modified as provided in the MGA Foreign Currency Guarantee Supplement.