Common use of RUSSIAN BANK ACCOUNTS Clause in Contracts

RUSSIAN BANK ACCOUNTS. The Company shall establish and maintain one or more bank accounts at such banks located in the Russian Federation as may be proposed by the Company and approved by the Bank (the "Russian Bank Accounts"), which accounts shall be pledged to the Project Lenders as security for all amounts payable by the Company under this Agreement, the OPIC Finance Agreement and the other Financing Agreements. The Company shall ensure that all revenues of the Company and any other payments made to the Company which, in either case, are received in Roubles or which the Company is required by applicable law to convert into Roubles or remit to or retain in the Russian Federation, including without limitation any payments made to the Company in Roubles under the Construction Contract, the Marketing Agreements and the other Project Agreements, are deposited into one of the Russian Bank Accounts. As long as no Event of Default or Potential Event of Default has occurred and is continuing, amounts in the Russian Bank Accounts may be withdrawn by the Company to pay Project Costs and Operating Costs, to pay dividends in Roubles to the Shareholders to the extent permitted by Section 6.01 and to convert such amounts into Dollars and transfer such amounts to the Revenue Subaccount, in each case without the prior approval of the Bank. The Company shall not withdraw funds from the Russian Bank Accounts for any other purpose without the prior written consent of the Bank. If an Event of Default or Potential Event of Default has occurred and is continuing, the Company shall not be permitted to withdraw any amounts from the Russian Bank Accounts without the prior written consent of the Bank.

RUSSIAN BANK ACCOUNTS. The Company shall establish and maintain one or more bank accounts at such banks located in the Russian Federation as may be proposed by the Company and approved by the Bank OPIC (the "Russian Bank Accounts"), which accounts shall be pledged to the Project Lenders as security for all amounts payable by the Company under this Agreement, the OPIC Finance EBRD Loan Agreement and the other Financing Agreements. The Company shall ensure that all revenues of the Company and any other payments made to the Company which, in either case, are received in Roubles or which the Company is required by applicable law to convert into Roubles or remit to or retain in the Russian Federation, including without limitation any payments made to the Company in Roubles under the Construction Contract, the Supply Contracts, the Marketing Agreements and the other Project Agreements, Agreements are deposited into one of the Russian Bank Accounts. As long as no Event of Default or Potential Event of Default has occurred and is continuing, amounts in the Russian Bank Accounts may be withdrawn by the Company to pay Project Costs and Operating Costs, to pay dividends in Roubles to the Shareholders to the extent permitted by Section 6.01 and to convert such amounts into Dollars and transfer such amounts to the Omolon - 59 - OPIC Finance Agreement Revenue Subaccount, in each case without the prior approval of the BankOPIC. The Company shall not withdraw funds from the Russian Bank Accounts for any other purpose without the prior written consent of the BankOPIC. If an Event of Default or Potential Event of Default has occurred and is continuing, the Company shall not be permitted to withdraw any amounts from the Russian Bank Accounts without the prior written consent of the BankOPIC.

RUSSIAN BANK ACCOUNTS. The Company shall establish and maintain one or more bank accounts at such banks located in the Russian Federation as may be proposed by the Company and approved by the Bank (the "Russian Bank Accounts"), which accounts shall be pledged to the Project Lenders Bank as security for all amounts payable by the Company under this Agreement, the OPIC Finance Agreement and the other Financing Agreements. The Company shall ensure that all revenues of the Company and any other payments made to the Company which, in either case, are received in Roubles or which the Company is required by applicable law to convert into Roubles or remit to or retain in the Russian Federation, including without limitation any payments made to the Company in Roubles under the Construction Contract, the Marketing Agreements and the other Project Agreements, are deposited into one of the Russian Bank Accounts. As long as no Event of Default or Potential Event of Default has occurred and is continuing, amounts in the Russian Bank Accounts may be withdrawn by the Company to pay Project Costs and Operating Costs, to pay dividends in Roubles to the Shareholders to the extent permitted by Section 6.01 and to convert such amounts into Dollars and transfer such amounts to the Revenue Subaccount, in each case without the prior approval of the Bank. The Company shall not withdraw funds from the Russian Bank Accounts for any other purpose without the prior written consent of the Bank. If an Event of Default or Potential Event of Default has occurred and is continuing, the Company shall not be permitted to withdraw any amounts from the Russian Bank Accounts without the prior written consent of the Bank.