Export Committed Loans Sample Clauses

Export Committed Loans. 1.3.6.1. The Customer agrees that the maturity of this Loan will be determined by the Bank, provided that it will remain within the periods specified in the relevant legislation, and that any changes in the legislation in the future may be implemented ex officio by the Bank. 1.3.6.2. The Customer accepts that the transactions to be executed either on the basis of this Agreement or due to exports through the Bank apart from this Agreement shall be subject to the provisions of the foreign exchange, customs and other relevant legislation in force and to be effective in the future, and to the brochures regarding “Uniform Customs and Practices for Documentary Loans” and “Uniform Rules for Collections” regulated by the International Chamber of Commerce, and their future revisions, and that the rules determined by the International Chamber of Commerce in this respect shall be a part of the Agreement. 1.3.6.3. The Customer agrees that he shall use the export credits extended in accordance with the legislation and only for the purpose of export financing. 1.3.6.4. If the Loan shall be paid off by foreign currency consisting of export letters of credit, the Customer shall ensure that the letter of credit shall be opened at the Bank regarding the export subject of the Loan, and in case of export against documents, all kind of bills of lading and transport documents for the goods will be issued directly to the name of the Bank for the purpose of security or be endorsed to the Bank. The Customer will be held liable for export documents and the goods covered thereby. 1.3.6.5. The Bank shall not be a party to the disputes between the Customer and the importer arising from the Agreement, and the Bank shall not be held liable for the choice of the correspondent bank or the failure in the delivery and the collection of the export fees due to said disputes. The Customer accepts that the liability arising from all kinds of fault of the correspondent banks shall only belong to the relevant correspondent bank. 1.3.6.6. The Customer agrees to pay the exempted taxes and funds together with the penalties to be accrued, to the Bank due to the fact that the export is not occurred on time. 1.3.6.7. The Customer shall pay the difference between the low interest rate applied in the case that the Customer shall not change the foreign currency related to the export subject of the Loan to the Bank, or that the Customer shall not transfer it to a correspondent bank account to be designated...