LOAN AGREEMENT November 13th, 2009 The Chile Fund, Inc. The Emerging Markets Telecommunications Fund, Inc. The First Israel Fund, Inc. The Indonesia Fund, Inc. The Latin America Equity Fund, Inc. Ladies and Gentlemen:Loan Agreement • April 30th, 2010 • Aberdeen Chile Fund, Inc. • New York
We are pleased to advise you that Brown Brothers Harriman & Co. (the “Lender”) holds for the use of The Chile Fund, Inc. (“CH”), The Emerging Markets Telecommunications Fund, Inc.(“ETF”), The First Israel Fund, Inc. (“ISL”), The Indonesia Fund, Inc. (“IF”) and The Latin America Equity Fund, Inc. (“LAO”) (each a “Borrower” and collectively, the “Borrowers”) a separate committed revolving credit facility for each Borrower (a “Facility”), upon the terms and conditions of (a) the Term Sheet and (b) this Loan Agreement (as each may be amended, together the “Loan Agreement”). In no event shall the Maximum Facility exceed $10,000,000. All terms not otherwise defined in this Loan Agreement shall have the meaning given each such term in Section 1 hereof. Notwithstanding anything contained in this Loan Agreement or the Note, (a) the Obligations shall be several and no one Borrower shall be jointly liable for the Obligations of any other Borrower, (b) the covenants, representations, warranties an
