Common use of Tranches Clause in Contracts

Tranches. The Bank shall disburse the Credit in Euros in three (3) Tranches, as set out below: (a) Tranche A, in an amount of at least EUR 15,000,000 (fifteen million euro) and up to EUR 25,000,000 (twenty five million euro); (b) Tranche B, in an amount of at least EUR 15,000,000 (fifteen million euro) and up to EUR 25,000,000 (twenty five million euro); and (c) Tranche C, in an amount of at least EUR 15,000,000 (fifteen million euro) and up to the undrawn balance of the Credit.

Tranches. The Bank shall disburse the Credit in Euros in three up to 3 (3three) Tranches, Tranches as set out below: follows: (a) The first Tranche A, in an amount of at least shall be EUR 15,000,000 16,000,000 (fifteen sixteen million euroeuros) and up to EUR 25,000,000 (twenty five million eurothe "First Tranche"); ; (b) The second Tranche B, in an amount of at least shall be EUR 15,000,000 14,000,000 (fifteen fourteen million euroeuros) and up to EUR 25,000,000 (twenty five million eurothe "Second Tranche"); and (c) The third Tranche C, in an amount of at least shall be EUR 15,000,000 10,000,000 (fifteen ten million euroeuros) and up to (the undrawn balance of the Credit."Third Tranche");

Tranches. The Bank shall disburse the Credit in Euros in three 3 (3three) Tranches, as set out below: (a) Tranche A, in an amount of at least EUR 15,000,000 7,000,000 (fifteen million euro) and up to EUR 25,000,000 (twenty five seven million euro); (b) Tranche B, in an amount of at least EUR 15,000,000 6,000,000 (fifteen million euro) and up to EUR 25,000,000 (twenty five six million euro); and (c) Tranche C, in an amount of at least EUR 15,000,000 7,000,000 (fifteen seven million euro) and up to the undrawn balance of the Credit). Each Tranche can only be drawn in full.

Tranches. The Bank shall disburse the Credit in Euros in three up to 3 (3three) Tranches, Tranches as set out belowfollows: (a) The first Tranche A, in an amount of at least shall be EUR 15,000,000 16,000,000 (fifteen sixteen million euroeuros) and up to EUR 25,000,000 (twenty five million eurothe "First Tranche"); (b) The second Tranche B, in an amount of at least shall be EUR 15,000,000 14,000,000 (fifteen fourteen million euroeuros) and up to EUR 25,000,000 (twenty five million eurothe "Second Tranche"); and; (c) The third Tranche C, in an amount of at least shall be EUR 15,000,000 10,000,000 (fifteen ten million euroeuros) and up to (the undrawn balance of the Credit."Third Tranche");

Tranches. The Bank shall disburse the Credit in Euros in three 3 (3three) Tranches, as set out below: (a) Tranche A, in an amount of at least EUR 15,000,000 (fifteen million euro) and up to EUR 25,000,000 20,000,000 (twenty five million euro); (b) Tranche B, in an amount of at least EUR 15,000,000 (fifteen million euro) and up to EUR 25,000,000 (twenty five million euro); and (c) Tranche C, in an amount of at least EUR 15,000,000 5,000,000 (fifteen five million euro) and up to the undrawn balance of the Credit). Each Tranche may only be disbursed in full.

Tranches. The Bank shall disburse the Credit in Euros in three 2 (3two) Tranches, as set out below: (a) Tranche A, in an amount of at least EUR 15,000,000 25,000,000 (fifteen twenty-five million euro) and up to EUR 25,000,000 (twenty five million euro);and (b) Tranche B, in an amount of at least EUR 15,000,000 (fifteen million euro) and up to EUR 25,000,000 (twenty twenty-five million euro); and (c) . Each Tranche C, may only be disbursed in an amount of at least EUR 15,000,000 (fifteen million euro) and up to the undrawn balance of the Creditfull.

Tranches. The Bank shall disburse the Credit in Euros EUR in three 3 (3three) Tranches, as set out below: (a) Tranche A, in an amount of at least EUR 15,000,000 7,000,000 (fifteen million euro) and up to EUR 25,000,000 (twenty five seven million euro); (b) Tranche B, in an amount of at least EUR 15,000,000 9,500,000 (fifteen nine million euro) and up to EUR 25,000,000 (twenty five million hundred thousand euro); and (c) Tranche C, in an amount of at least EUR 15,000,000 8,000,000 (fifteen eight million euro) ). Each Tranche may only be disbursed in full and up to the undrawn balance of the Creditnot in part.