Common use of PARI PASSU TO NON Clause in Contracts

PARI PASSU TO NON. EIB Financing If the Borrower (or any other member of the Group) or any Guarantor voluntarily prepays (for the avoidance of doubt, prepayment shall include a repurchase, redemption or cancellation where applicable) a part or the whole of any Non-EIB Financing and: · such prepayment is not made within a revolving credit facility (save for the cancellation of the revolving credit facility); · such prepayment is not made out of the proceeds of a loan or other indebtedness having a term at least equal to the unexpired term of the Non-EIB Financing prepaid, the Bank may, by notice to the Borrower, cancel the undisbursed portion of the Credit and demand prepayment of the Loan. The proportion of the Loan that the Bank may require to be prepaid shall be the same as the proportion that the prepaid amount of the Non-EIB Financing bears to the aggregate outstanding amount of all Non-EIB Financing. The Borrower shall effect payment of the amount demanded on the date specified by the Bank, such date being a date falling not less than 30 (thirty) days from the date of the demand. For the purposes of this Article, "Non-EIB Financing" includes any loan (save for the Loan and any other direct loans from the Bank to the Borrower (or any other member of the Group) or any Guarantor), credit bond or other form of financial indebtedness or any obligation for the payment or repayment of money originally granted to the Borrower (or any other member of the Group) or any Guarantor) for a term of more than 3 (three) years.

PARI PASSU TO NON. EIB Financing FINANCING If the Borrower (or any other member of the Group) or any Guarantor voluntarily prepays (for the avoidance of doubt, prepayment shall include a repurchase, redemption or cancellation where applicable) a part or the whole of any Non-EIB Financing and: · - such prepayment is not made within a revolving credit facility (save for the cancellation of the revolving credit facility); · - such prepayment is not made out of the proceeds of a loan or other indebtedness having a term at least equal to the unexpired term of the Non-EIB Financing prepaid, the Bank may, by notice to the Borrower, cancel the undisbursed portion of the Credit and demand prepayment of the Loan. The proportion of the Loan that the Bank may require to be prepaid shall be the same as the proportion that the prepaid amount of the Non-EIB Financing bears to the aggregate outstanding amount of all Non-EIB Financing. The Borrower shall effect payment of the amount demanded on the date specified by the Bank, such date being a date falling not less than 30 (thirty) days from the date of the demand. For the purposes of this Article, "“Non-EIB Financing" ” includes any loan (save for the Loan and any other direct loans from the Bank to the Borrower (or any other member of the Group) or any Guarantor), credit bond or other form of financial indebtedness or any obligation for the payment or repayment of money originally granted to the Borrower (or any other member of the Group) or any Guarantor) for a term of more than 3 (three) years.

PARI PASSU TO NON. EIB Financing FINANCING If the a Borrower (or any other member of the Group) or any Guarantor voluntarily prepays (for the avoidance of doubt, prepayment shall include a repurchase, redemption repurchase or cancellation where applicable) a part or the whole of any other Non-EIB Financing and: · - such prepayment is not made within a revolving credit facility (save for the cancellation of the revolving credit facility); · or - such prepayment is not made out of the proceeds of a loan or other indebtedness having a term at least equal to the unexpired term of the Non-EIB Financing prepaid; or - following such prepayment the aggregate of the outstanding Loan and any other direct loans from the Bank constitutes more than 50% (fifty per cent.) of the aggregate outstanding Non-EIB Financing to the Group, the Bank may, by notice to the BorrowerBorrowers, cancel the undisbursed portion of the Credit and demand prepayment of the Loan. The proportion of the Loan that the Bank may require to be prepaid shall be the same as the proportion that the prepaid amount of the Non-EIB Financing bears to the aggregate outstanding amount of all Non-EIB Financing. The Each Borrower shall effect payment of the amount demanded from it on the date specified by the Bank, such date being a date falling not less than 30 (thirty) days from the date of the demand. For the purposes of this Article, "Non-EIB Financing" includes any loan loan, (save for the Loan and any other direct loans from the Bank to the Borrower (or any other member of the Group) or any GuarantorBank), credit bond or other form of financial indebtedness or any obligation for the payment or repayment of money originally granted to a Borrower or the Borrower (Guarantor or any other member of the Group) or any Guarantor) Group for a term of more than 3 (three) years.

PARI PASSU TO NON. EIB Financing FINANCING If any of the Borrower Borrowers (or any other member of the Group) or any Guarantor voluntarily prepays (for the avoidance of doubt, prepayment shall include a repurchase, redemption repurchase or cancellation where applicable) a part or the whole of any Non-EIB Financing and: · – such prepayment is not made within a revolving credit facility (save for the cancellation of the revolving credit facility); · – such prepayment is not made out of the proceeds of a loan or other indebtedness having a term at least equal to the unexpired term of the Non-EIB Financing prepaid, the Bank may, by notice to the BorrowerBorrowers, cancel the undisbursed portion of the Credit and demand prepayment of the Loan. The proportion of the Loan that the Bank may require to be prepaid shall be the same as the proportion that the prepaid amount of the Non-EIB Financing bears to the aggregate outstanding amount of all Non-EIB Financing. The relevant Borrower shall effect payment of the amount demanded on the date specified by the Bank, such date being a date falling not less than 30 (thirty) days from the date of the demand. For the purposes of this Article, "“Non-EIB Financing" ” includes any loan loan, (save for the Loan and any other direct loans from the Bank to the Borrower (or any other member of the Group) or any Guarantor)), credit bond or other form of financial indebtedness or any obligation for the payment or repayment of money originally granted to the Borrower (or any other member of the Group) or any Guarantor)) for a term of more than 3 (three) years.

PARI PASSU TO NON. EIB Financing FINANCING If the Borrower (Borrower, the Guarantor or any other member of the Group) or any Guarantor Group voluntarily prepays (for the avoidance of doubt, prepayment shall include a repurchase, redemption repurchase or cancellation where applicable) a part or the whole of any Non-EIB Financing and: · and following such prepayment is not made within a revolving credit facility the outstanding Loan constitutes more than 30% (save for the cancellation thirty per cent) of the revolving credit facility); · such prepayment is not made out of the proceeds of a loan or other indebtedness having a term at least equal to the unexpired term of the aggregate outstanding Non-EIB Financing prepaidto the Group, the Bank may, by notice to the Borrower, cancel the undisbursed portion of the Credit and and/or demand prepayment of the Loan, together with accrued interest and all other amounts accrued or outstanding under this Contract. The proportion of the Credit that the Bank may cancel and/or the proportion of the Loan that the Bank may require to be prepaid shall be the same as the proportion that the prepaid amount of the Non-EIB Financing bears to the aggregate outstanding amount of all Non-EIB Financing. The Borrower shall effect payment of the amount demanded on the date specified by the Bank, such date being a date falling not less than 30 (thirty) days from the date of the demand. For the purposes of this Article, "“Non-EIB Financing" ” includes any loan (save for the Loan and any other direct loans from the Bank to the Borrower (or any other member of the Group) or any GuarantorLoan), credit bond or other form of financial indebtedness or any obligation for the payment or repayment of money originally granted to the Borrower (or any other member of the Group) or any Guarantor) for a term an original tenor of more than 3 5 (threefive) years.