Z A K O N

O POTVRĐIVANJU FINANSIJSKOG UGOVORA ŽELEZNIČKA PRUGA NIŠ–DIMITROVGRAD

IZMEĐU REPUBLIKE SRBIJE I EVROPSKE INVESTICIONE BANKE

Član 1.

Potvrđuje se Finansijski ugovor Železnička pruga Niš–Dimitrovgrad između Republike Srbije i Evropske investicione xxxxx, xxxx xx potpisan u Beogradu, 31. januara 2018. godine, u originalu na engleskom jeziku.

Član 2.

Tekst Finansijskog ugovora Železnička pruga Niš–Dimitrovgrad između Republike Srbije i Evropske investicione banke, u originalu na engleskom jeziku i u prevodu na srpski jezik glasi:

FI N° 86763 (RS)

Serapis N° 2016-0341

RAILWAY NIS-DIMITROVGRAD

Finance Contract

between

The Republic of Serbia

and

The European Investment Bank

At Belgrade, this 31 January, 2018

THIS CONTRACT IS MADE BETWEEN:

The Republic of Serbia, represented by the Minister of Finance, Xx. Xxxxx Xxxxxxx, Ph.D., on behalf of the Government as representative of the Republic of Serbia,	(the "Borrower")
of the first part, and
The European Investment Bank having its seat at 000 xxxx Xxxxxx Xxxxxxxx, Xxxxxxxxxx, X-0000 Xxxxxxxxxx, represented by the Vice-President, Xx Xxxxx Xxxxxxxxxxx,	(the "Bank")
of the second part.

WHEREAS:

(a) The Borrower has stated that, through Infrastruktura Zeleznice Srbije AD, a company wholly owned by the Borrower (the "Final Beneficiary"), it is undertaking a project for the reconstruction and modernisation of the existing single track railway line Sićevo - Dimitrovgrad and construction of single track by-pass in the North of the City of Niš (the "Project"), as summarised below in Shedule A of this Contract and more particularly described in the Technical Description (as defined below), it being understood that the Schedule A of this Contract is for information purposes only and that the Technical Description applicable to the Project is set out in the Schedule A of the Project Implementation Agreement.

(b) The Final Beneficiary (i) shall be responsible for the implementation of the Project, with all the necessary support from the Borrower, and under the supervision of the Ministry of Construction, Transport and Infrastructure (the “Promoter”), and (ii) shall implement the Project pursuant to the terms of a project implementation agreement to be entered into between the Promoter, the Final Beneficiary and the Bank prior to the first disbursement under this Contract (the “Project Implementation Agreement”).

(c) The total cost of the Project (net of VAT), as estimated by the Bank, is EUR 268,280,000.00 (two hundred sixty eight million and two hundred eighty thousand euros) and the Borrower has stated that it intends to finance the Project as follows:

Source	Amount (EUR m)
Credit from the Bank	134.00
Republic of Serbia	61.24
WBIF investment grants	73.04
TOTAL	268.28

it being understood that the Republic of Serbia’s contribution to the Project from its own funds (as set out above) may reduce if and to the extent that the WBIF investment grant in respect of the Component 2 (as defined below) is granted to the Republic of Serbia and is applied by the Republic of Serbia to the Project.

(d) In order to fulfil the financing plan set out in Recital (c), the Borrower has requested from the Bank, in total a credit of up to EUR 134,000,000.00 (one hundred thirty-four million euros) (“Approved Credit”) to be made available pursuant to the 2014-2020 Pre-Accession Mandate under Decision 466/2014/EU of the European Parliament and of the Council (the "Mandate").

(e) The Bank considering that the financing of the Project falls within the scope of its functions, and is consistent with the objectives of the Mandate, having regard to the statements and facts cited in these Recitals, has decided to give effect to the Borrower’s request providing the Approved Credit in an amount of 134,000,000.00 (one hundred thirty-four million euros) under this Finance Contract (the "Contract"); provided that the amount of the Bank loan shall not, in any case, exceed (i) 50% (fifty per cent) of the total cost of the Project set out in Recita (c) nor (ii) when aggregated with any EU grants available for the Project, 90% (ninety per cent) of the total cost of the Project set out in Recital (c).

(f) The Borrower shall make available to the Final Beneficiary the proceeds of the Credit for the sole purpose of financing and implementation of the Project.

(g) The Borrower directly holds the 100% (one hundred per cent) of the share capital of the Final Beneficiary.

(h) In accordance with the Decision No. 466/2014/EU, published in the Official Journal of the EU No. L 135 of 8.5.2014, (the "Decision") the European Parliament and the Council of the EU decided to grant a guarantee to the Bank against losses under financing operations supporting investment projects outside the EU and the agreement entered into between the European Union represented by the European Commission and the Bank implementing such decision, in the event of non-payment, the European Union, by a guarantee, covers payments not received by the Bank and due to the Bank in relation to the Bank’s financing operations entered into with, inter alios, the Borrower (the “EU Guarantee”). As of the date of this Contract, the Republic of Serbia is an Eligible Country (as defined below).

(i) The Republic of Serbia and the Bank concluded on 11 May 2009, a framework agreement governing the Bank’s activities in the Republic of Serbia (the "Framework Agreement"). By a letter dated 14 December 2015, the Republic of Serbia requested the financing of the Project, as such the present project falls within the scope of the Framework Agreement.

(j) The Statute of the Bank provides that the Bank shall ensure that its funds are used as rationally as possible in the interests of the European Union; and, accordingly, the terms and conditions of the Bank's loan operations must be consistent with relevant policies of the European Union.

(k) The Bank considers that access to information plays an essential role in the reduction of environmental and social risks, including human rights violations, linked to the projects it finances and has therefore established its transparency policy, the purpose of which is to enhance the accountability of the Bank’s group companies towards its stakeholders.

(l) The processing of personal data shall be carried out by the Bank in accordance with applicable European Union legislation on the protection of individuals with regard to the processing of personal data by the EU institutions and bodies and on the free movement of such data.

NOW THEREFORE it is hereby agreed as follows:

INTERPRETATION AND DEFINITIONS

Interpretation

In this Contract references to:

(a) Articles, Recitals and Schedules are, save if explicitly stipulated otherwise, references respectively to articles of, and recitals and schedules to this Contract;

(b) a provision of law are references to that provision as amended or re-enacted; and

(c) any other agreement or instrument are references to that other agreement or instrument as amended, novated, supplemented, extended or restated.

Definitions

In this Contract:

"Acceptance Deadline" for a notice means:

(a) 16h00 Luxembourg time on the day of delivery, if the notice is delivered by 14h00 Luxembourg time on a Business Day; or

(b) 11h00 Luxembourg time on the next following day which is a Business Day, if the notice is delivered after 14h00 Luxembourg time on any such day or is delivered on a day which is not a Business Day.

"Accepted Tranche" means a Tranche in respect of which a Disbursement Offer has been duly accepted by the Borrower in accordance with its terms on or before the Disbursement Acceptance Deadline.

"Authorisation" means an authorisation, permit, consent, approval, resolution, licence, exemption, filing, notarisation or registration.

"Business Day" means a day (other than a Saturday or Sunday) on which the Bank and commercial banks are open for general business in Luxembourg and Belgrade.

"Change-of-Law Event" has the meaning given to it in Article 4.3.A(3).

"Components" mean all of (i) Component 1 (ii) Component 2 , (iii) Component 3 (iv) Component 4 (each a "Component").

"Component 1" means Section Sićevo – Dimitrovgrad, reconstruction and modernisation civil works and track, preparatory works for electrification and signalling.

"Component 2" means North by-pass of the City of Niš, single track electrified line.

"Component 3" means Sections Crveni Krst – connection with the by-pass and Sićevo – Dimitrovgrad, electrification and signalling.

"Component 4" means Services for design, third party works supervision and implementation support plus preparation of future projects.

"Contract" has the meaning given to it in Recital (e). "Credit" has the meaning given to it in Article 1.1.

"Deferment Indemnity" means an indemnity calculated on the amount of disbursement deferred or suspended at the percentage rate (if higher than zero) by which:

(a) the interest rate that would have been applicable to such amount had it been disbursed to the Borrower on the Scheduled Disbursement Date, exceeds

(b) EURIBOR (one month rate) less 0.125% (12.5 basis points), unless this value is less than zero, in which case it will be set at zero.

Such indemnity shall accrue from the Scheduled Disbursement Date to the Disbursement Date or, as the case may be, until the date of cancellation of the Accepted Tranche in accordance with this Contract.

"Disbursement Acceptance" means a copy of the Disbursement Offer duly countersigned by the Borrower.

"Disbursement Acceptance Deadline" means the date and time of expiry of a Disbursement Offer as specified therein.

"Disbursement Date" means the date on which actual disbursement of a Tranche is made by the Bank.

"Disbursement Offer" means a letter substantially in the form set out in Schedule C. "Disruption Event" means either or both of:

(a) a material disruption to those payment or communications systems or to those financial markets which are, in each case, required to operate in order for payments to be made in connection with this Contract; or

(b) the occurrence of any other event which results in a disruption (of a technical or systems-related nature) to the treasury or payments operations of either the Bank or the Borrower, preventing that party:

(i) from performing its payment obligations under this Contract; or

(ii) from communicating with other parties,

and which disruption (in either such case as per (a) or (b) above) is not caused by, and is beyond the control of, the party whose operations are disrupted.

"Eligible Country" means any country specified in Xxxxx XXX to the Decision, as may be amended from time to time by the European Commission in accordance with Articles 4(2) and 18 of the Decision, or any other country in respect of which the European Parliament and the Council of the EU have adopted a decision pursuant to Article 4(1) of the Decision.

"EU Guarantee" has the meaning given to it in Recital (h). "EURIBOR" has the meaning given to it in Schedule B.

"EUR" or "euro" means the lawful currency of the Member States of the European Union which adopt or have adopted it as their currency in accordance with the relevant provisions of the Treaty on European Union and the Treaty on the Functioning of the European Union or their succeeding treaties.

"European Commission" means the Commission of the European Union.

"Event of Default" means any of the circumstances, events or occurrences specified in Article 10.1.

"Final Availability Date" means the date falling 60 (sixty) months from the date of signature of this Contract or a later date if approved in writing by the Bank upon formal request in writing of the Borrower, which date shall in no event fall after the date which is five years from the end of the Mandate.

"Financing of Terrorism" means the provision or collection of funds, by any means, directly or indirectly, with the intention that they should be used or in the knowledge that they are to be used, in full or in part, in order to carry out any of the offences within the meaning of Articles 1 to 4 of the EU Council Framework Decision 2002/475/XXX of 13 June 2002 on combating terrorism.

"Fixed Rate" means an annual interest rate determined by the Bank in accordance with the applicable principles from time to time laid down by the governing bodies of the Bank for loans made at a fixed rate of interest, denominated in the currency of the Tranche and bearing equivalent terms for the repayment of capital and the payment of interest.

"Fixed Rate Tranche" means a Tranche on which Fixed Rate is applied.

"Floating Rate" means a fixed-spread floating interest rate, that is to say an annual interest rate determined by the Bank for each successive Floating Rate Reference Period equal to EURIBOR plus the Spread.

"Floating Rate Reference Period" means each period from one Payment Date to the next relevant Payment Date; the first Floating Rate Reference Period shall commence on the date of disbursement of the Tranche.

"Floating Rate Tranche" means a Tranche to which Floating Rate is applied. "Framework Agreement" has the meaning given to it in Recital (i).

"Indemnifiable Prepayment Event" means a Prepayment Event other than those specified in paragraphs 4.3.A(2) or 4.3.A(4).

"Interest Revision/Conversion" means the determination of new financial conditions relative to the interest rate, specifically the same interest rate basis ("revision") or a different interest rate basis ("conversion") which can be offered for the remaining term of a Tranche or until a next Interest Revision/Conversion Date, if any, for an amount which, at the proposed Interest Revision/Conversion Date, is not less than EUR 10,000,000 (ten million euros) or the equivalent thereof.

"Interest Revision/Conversion Date" means the date, which shall be a Payment Date, specified by the Bank pursuant to Article 1.2.B in the Disbursement Offer or pursuant to Article 3 and Schedule D.

"Interest Revision/Conversion Proposal" means a proposal made by the Bank under Schedule D.

"Interest Revision/Conversion Request" means a written notice from the Borrower, delivered at least 75 (seventy-five) days before an Interest Revision/Conversion Date, requesting the Bank to submit to it an Interest Revision/Conversion Proposal. The Interest Revision/Conversion Request shall also specify:

(a) Payment Dates chosen in accordance with the provisions of Article 3.1;

(b) the preferred repayment schedule chosen in accordance with Article 4.1; and

"Loan" means the aggregate amount of Tranches disbursed from time to time by the Bank under this Contract.

"Mandate" has the meaning given to it in Recital (d).

"Market Disruption Event" means any of the following circumstances:

(a) there are, in the reasonable opinion of the Bank, events or circumstances adversely affecting the Bank’s access to its sources of funding;

(b) in the opinion of the Bank, funds are not available from its ordinary sources of funding in order to adequately fund a Tranche in the relevant currency and/or for the relevant maturity and/or in relation to the reimbursement profile of such Tranche; or

(i) the cost to the Bank of obtaining funds from its sources of funding, as determined by the Bank, for a period equal to the Floating Rate Reference Period of such Tranche (i.e. in the money market) would be in excess of the applicable Relevant Interbank Rate; or

(ii) the Bank determines that adequate and fair means do not exist for ascertaining the applicable Relevant Interbank Rate for the relevant currency of such Tranche or it is not possible to determine the Relevant Interbank Rate in accordance with the definition contained in Schedule B.

"Material Adverse Change" means, any event or change of condition, which, in the opinion of the Bank has a material adverse effect on:

(a) the ability of the Borrower to perform its obligations under this Contract;

(b) the business, operations, property, condition (financial or otherwise) or prospects of the Borrower; or

(c) the legality, validity or enforceability of, or the effectiveness or ranking of, or the value of any security granted to the Bank, or the rights or remedies of the Bank under this Contract .

"Maturity Date" means the last repayment date of a Tranche specified pursuant to Article 4.1.A(b)(iv).

"Money Laundering" means:

(a) the conversion or transfer of property, knowing that such property is derived from criminal activity or from an act of participation in such activity, for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in the commission of such activity to evade the legal consequences of his action;

(b) the concealment or disguise of the true nature, source, location, disposition, movement, rights with respect to, or ownership of property, knowing that such property is derived from criminal activity or from an act of participation in such activity;

(c) the acquisition, possession or use of property, knowing, at the time of receipt, that such property was derived from criminal activity or from an act of participation in such activity; or

(d) participation in, association to commit, attempts to commit and aiding, abetting, facilitating and counselling the commission of any of the actions mentioned in the foregoing points.

"Payment Date" means the annual, semi-annual or quarterly dates specified in the Disbursement Offer until the Interest Revision/Conversion Date, if any, or the Maturity Date, save that, in case any such date is not a Relevant Business Day, it means:

(a) for a Fixed Rate Tranche, the following Relevant Business Day, without adjustment to the interest due under Article 3.1; and

(b) for a Floating Rate Tranche, the next day, if any, of that calendar month that is a Relevant Business Day or, failing that, the nearest preceding day that is a Relevant Business Day, in all cases with corresponding adjustment to the interest due under Article 3.1.

"Prepayment Amount" means the amount of a Tranche to be prepaid by the Borrower in accordance with Article 4.2.A.

"Prepayment Date" means the date, which shall be a Payment Date, on which the Borrower proposes to effect prepayment of a Prepayment Amount.

"Prepayment Event" means any of the events described in Article 4.3.A.

"Prepayment Indemnity" means in respect of any principal amount to be prepaid or cancelled, the amount communicated by the Bank to the Borrower as the present value (as of the Prepayment Date) of the excess, if any, of:

(a) the interest that would accrue thereafter on the Prepayment Amount over the period from the Prepayment Date to the Interest Revision/Conversion Date, if any, or the Maturity Date, if it were not prepaid; over

(b) the interest that would so accrue over that period, if it were calculated at the Redeployment Rate, less 0.15% (fifteen basis points).

The said present value shall be calculated at a discount rate equal to the Redeployment Rate, applied as of each relevant Payment Date.

"Prepayment Notice" means a written notice from the Bank to the Borrower in accordance with Article 4.2.C.

"Prepayment Request" means a written request from the Borrower to the Bank to prepay all or part of the Loan, in accordance with Article 4.2.A.

"Prohibited Conduct" means any Financing of Terrorism, Money Laundering or Prohibited Practice.

"Prohibited Practice" means any:

(a) Coercive Practice, meaning the impairing or harming, or threatening to impair or harm, directly or indirectly, any party or the property of a party to influence improperly the actions of a party;

(b) Collusive Practice, meaning an arrangement between two or more parties designed to achieve an improper purpose, including to influence improperly the actions of another party;

(c) Corrupt Practice, meaning the offering, giving, receiving or soliciting, directly or indirectly, of anything of value by a party to influence improperly the actions of another party;

(d) Fraudulent Practice, meaning any act or omission, including a misrepresentation, that knowingly or recklessly misleads, or attempts to mislead, a party in order to obtain a financial or other benefit or to avoid an obligation; or

(e) Obstructive Practice, meaning in relation to an investigation into a Coercive, Collusive, Corrupt or Fraudulent Practice in connection with this Loan, (i) deliberately destroying, falsifying, altering or concealing of evidence material to the investigation; and/or threatening, harassing or intimidating any party to prevent it from disclosing its knowledge of matters relevant to the investigation or from pursuing the investigation, or (ii) acts intending to materially impede the exercise of the contractual rights of audit or access to information.

"Project" has the meaning given to it in Recital (a). "Promoter" has the meaning given to it in Recital (a).

"Redeployment Rate" means the Fixed Rate in effect on the day of the indemnity calculation for fixed-rate loans denominated in the same currency and which shall have the same terms for the payment of interest and the same repayment profile to the Interest Revision/Conversion Date, if any, or the Maturity Date as the Tranche in respect of which a prepayment is proposed or requested to be made. For those cases where the period is shorter than 48 (forty-eight) months (or 36 (thirty-six) months in the absence of a repayment of principal during that period) the most closely corresponding money market rate equivalent will be used, that is EURIBOR minus 0.125% (12.5 basis points) for periods of up to 12 (twelve) months. For periods falling between 12 (twelve) and 36/48 months, the bid point on the swap rates as published by Reuters for the related currency and observed by the Bank at the time of calculation will apply.

"Relevant Business Day" means a day on which the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which utilises a single shared platform and which was launched on 19 November 2007 (TARGET2) is open for the settlement of payments in EUR.

"Relevant Interbank Rate" means EURIBOR. "Sanction Lists" means:

(a) any economic, financial and trade restrictive measures and arms embargoes issued by the European Union pursuant to Chapter 2 of Title V of the Treaty on

European Union as well as Article 215 of the Treaty on the Functioning of the European Union, including, but not limited to those as available in the official EU websites xxxx://xx.xxxxxx.xx/xxxxxxxx_xxxxxxxxx/xxxx/xxxxxxxxx/xxxxxx-xxxx_xx.xxx and xxxx://xxxx.xxxxxx.xx/xxxx/xxxxxxxxx/xxxx/xxxxxxxx_xx.xxx, as amended and supplemented from time to time or on any successor page; or

(b) any economic, financial and trade restrictive measures and arms embargoes issued by the United Nations Security Council pursuant to Article 41 of the UN Charter including, but not limited to those as available in the official UN website xxxx://xxx.xx.xxx/Xxxx/xx/xxxxxxxxxx/XXXXX.xxx, as amended and supplemented from time to time or on any successor page.

"Sanctioned Persons" means any individual or entity listed in one or more Sanction Lists.

"Scheduled Disbursement Date" means the date on which a Tranche is scheduled to be disbursed in accordance with Article 1.2.B.

"Security" means any mortgage, pledge, lien, charge, assignment, hypothecation, or other security interest securing any obligation of any person or any other agreement or arrangement having a similar effect.

"Spread" means the fixed spread to EURIBOR (being either plus or minus) determined by the Bank and notified to the Borrower in the relevant Disbursement Offer or Interest Revision/Conversion Proposal.

"Tax" means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same).

"Technical Description" means the technical description set out in Schedule A of the Project Implementation Agreement.

"Tranche" means each disbursement made or to be made under this Contract. In case no Disbursement Acceptance has been received, Tranche shall mean a Tranche as offered under Article 1.2.B.

ARTICLE 1

Credit and Disbursements

1.1 Amount of Credit

By this Contract the Bank establishes in favour of the Borrower, and the Borrower accepts, a credit in an amount of 134,000,000.00 (one hundred thirty-four million euros) for the financing of the Project (the "Credit").

1.2 Disbursement procedure

1.2.A Tranches

The Bank shall disburse the Credit in up to 10 (ten) Tranches. Except for the first Tranche, the amount of each Tranche, if not being the undrawn balance of the Credit, shall be in a minimum amount of EUR 10,000,000 (ten million euros). The amount of the first Tranche shall be a minimum of 5,000,000 (five million euros).

1.2.B Disbursement Offer

Upon request by the Borrower (which, among others, shall specify the Component(s) to be financed with the proposed disbursement), provided that no event mentioned in Article 1.6.B has occurred and is continuing, the

Bank shall send to the Borrower a Disbursement Offer for the disbursement of a Tranche. The latest time for receipt by the Borrower of a Disbursement Offer is 10 (ten) days before the Final Availability Date. The Disbursement Offer shall specify:

(a) the currency and amount of the Tranche;

(b) the Scheduled Disbursement Date, which shall be a Relevant Business Day, falling at least 10 (ten) days after the date of the Disbursement Offer and on or before the Final Availability Date;

(c) the interest rate basis of the Tranche, being: (i) a Fixed Rate Tranche; or (ii) a Floating Rate Tranche, in each case, pursuant to the relevant provisions of Article 3.1;

(d) the interest payment periodicity for the Tranche, in accordance with the provisions of Article 3.1;

(e) the first Payment Date for the Tranche;

(f) the terms for repayment of principal for the Tranche, in accordance with the provisions of Article 4.1;

(g) the first and last repayment dates of principal for the Tranche;

(h) the Interest Revision/Conversion Date, if requested by the Borrower, for the Tranche;

(i) for a Fixed Rate Tranche, the Fixed Rate and for a Floating Rate Tranche the Spread, applicable until the Interest Revision/Conversion Date (if any) or until the Maturity Date; and

(j) the Disbursement Acceptance Deadline.

1.2.C Disbursement Acceptance

The Borrower may accept a Disbursement Offer by delivering a Disbursement Acceptance to the Bank no later than the Disbursement Acceptance Deadline. The Disbursement Acceptance shall be accompanied:

(a) by the IBAN code (or appropriate format in line with local banking practice) and SWIFT BIC of the bank account to which disbursement of the Tranche should be made in accordance with Article 1.2.D; and

(b) by evidence of the authority of the person or persons authorised to sign the Disbursement Acceptance and the specimen signature of such person or persons or a declaration by the Borrower that no change has occurred in relation to the authority of the person or persons authorised to sign Disbursement Acceptances under this Contract.

If a Disbursement Offer is duly accepted by the Borrower in accordance with its terms on or before the Disbursement Acceptance Deadline, the Bank shall make the Accepted Tranche available to the Borrower in accordance with the relevant Disbursement Offer and subject to the terms and conditions of this Contract.

The Borrower shall be deemed to have refused any Disbursement Offer which has not been duly accepted in accordance with its terms on or before the Disbursement Acceptance Deadline.

1.2.D Disbursement Account

Disbursement shall be made to such account of the Borrower as the Borrower shall notify in writing to the Bank not later than 10 (ten) days before the Scheduled Disbursement Date (with IBAN code or with the appropriate format in line with local banking practice).

Only one account may be specified for each Tranche.

1.3 Currency of disbursement

The Bank shall disburse each Tranche in EUR.

1.4 Conditions of disbursement

1.4.A First Tranche

(a) The disbursement of the first Tranche under Article 1.2 is conditional upon receipt by the Bank, in form and substance satisfactory to it, on or before the date falling 5 (five) Business Days before the Scheduled Disbursement Date, of the following documents or evidence:

(i) evidence that the execution of this Contract by the Borrower has been duly authorised and that the person or persons signing this Contract on behalf of the Borrower is/are duly authorised to do so together with the specimen signature of each such person or persons;

(ii) evidence that the Borrower has obtained all necessary Authorisations required in connection with this Contract;

(iii) a favourable legal opinion issued in English language by the Minister of Justice of the Borrower confirming, inter alia, (i) the authority of persons signing this Contract on behalf of the Borrower; and (ii) this Contract has been duly executed by the Borrower and constitutes valid, binding and enforceable obligations of the Borrower according with its terms; (iii) the valid choice of laws of the Grand Duchy of Luxembourg law and The Court of Justice of the European Union under this Contract, and

(v) the recognition and enforcement of judgments of The Court of Justice of the European Union in any proceedings taken in the Republic of Serbia in relation to this Contract;

(iv) duly executed Project Implementation Agreement;

(v) evidence that the execution of the Project Implementation Agreement by the Promoter and the Final Beneficiary has been duly authorised and that the persons signing the Project Implementation Agreement on behalf of the Promoter and the Final Beneficiary are duly authorised to do so together with the specimen signature of each such persons;

(vi) evidence that all exchange control consents specified by the Bank or indicated in the legal opinion given under paragraph (iii) above as being necessary have been obtained to permit the Borrower to receive disbursements as provided in this Contract, to repay the Loan and to pay interest and all other amounts due hereunder; and

(vii) the Borrower has taken all action necessary to exempt from taxation for all payments of principal, interest and other sums due

hereunder and to permit the payment of all such sums gross without deduction of tax at source shall have been taken,

(b) The disbursement of the first Tranche under Article 1.2 is subject to further the condition that the Bank being satisfied, on or before the date falling 5 (five) Business Days before the Scheduled Disbursement Date, that the conditions set out in the article 3(b) of the Project Implementation Agreement have been provided and fulfilled.

1.4.B All Tranches

The disbursement of each Tranche under Article 1.2, including the first, is subject to the following conditions:

(a) that the Bank being satisfied, on or before the date falling 5 (five) Business Days before the Scheduled Disbursement Date for the proposed Tranche, that the conditions set out in the article 3(c) of the Project Implementation Agreement have been provided and fulfilled;

(b) that the Bank has received, in form and substance satisfactory to it, on or before the date falling 5 (five) Business Days before the Scheduled Disbursement Date for the proposed Tranche, of the following documents or evidence:

(i) a certificate from the Borrower in the form of Schedule E signed by an authorised representative of the Borrower and dated no earlier than the date falling 20 (twenty) days before the Scheduled Disbursement Date;

(ii) a copy of any other authorisation or other document, opinion or assurance which the Bank has notified the Borrower is necessary or desirable in connection with the entry into and performance of, and the transactions contemplated by, this Contract or the Project Implementation Agreement or the validity and enforceability of the same,

(i) the representations and warranties which are repeated pursuant to Article 6.5 are correct in all respects; and

(ii) no event or circumstance which constitutes or would with the passage of time or giving of notice under this Contract constitute:

(1) an Event of Default; or

(2) a Prepayment Event,

has occurred and is continuing unremedied or unwaived or would result from the disbursement of the proposed Tranche,

(d) that the Bank being satisfied by the Scheduled Disbursement Date for the proposed Tranche that:

(i) the EU Guarantee is valid, binding and enforceable and that no events or circumstances have occurred which could, in the opinion of the Bank, adversely affect the legal, valid, binding and enforceable nature of the EU Guarantee or the Bank’s right to make a demand thereunder;

(ii) the Republic of Serbia continues to be an Eligible Country; and

(iii) the Framework Agreement is valid, binding and enforceable and that no events or circumstances have occurred which could, in

the opinion of the Bank, adversely affect the legal, valid, binding and enforceable nature of the Framework Agreement.

1.5 Deferment of disbursement

1.5.A Grounds for deferment

Upon the written request of the Borrower, the Bank shall defer the disbursement of any Accepted Tranche in whole or in part to a date specified by the Borrower being a date falling not later than 6 (six) months from its Scheduled Disbursement Date and not later than 60 (sixty) days prior to the first repayment date of the Tranche indicated in the Disbursement Offer. In such case, the Borrower shall pay the Deferment Indemnity calculated on the amount of disbursement deferred.

Any request for deferment shall have effect in respect of a Tranche only if it is made at least 5 (five) Business Days before its Scheduled Disbursement Date.

If for an Accepted Tranche any of the conditions referred to in Article 1.4 is not fulfilled as at the specified date and at the Scheduled Disbursement Date (or the date expected for disbursement in case of a previous deferment), disbursement will be deferred to a date agreed between the Bank and the Borrower falling not earlier than 5 (five) Business Days following the fulfilment of all conditions of disbursement (without prejudice to the right of the Bank to suspend and/or cancel the undisbursed portion of the Credit in whole or in part pursuant to Article 1.6.B). In such case, the Borrower shall pay the Deferment Indemnity calculated on the amount of disbursement deferred.

1.5.B Cancellation of a disbursement deferred by 6 (six) months

The Bank may, by notice in writing to the Borrower, cancel a disbursement which has been deferred under Article 1.5.A by more than 6 (six) months in aggregate. The cancelled amount shall remain available for disbursement under Article 1.2.

1.6 Cancellation and suspension

1.6.A Xxxxxxxx’x right to cancel

The Borrower may at any time by notice in writing to the Bank cancel, in whole or in part and with immediate effect, the undisbursed portion of the Credit. However, the notice shall have no effect in respect of an Accepted Tranche which has a Scheduled Disbursement Date falling within 5 (five) Business Days of the date of the notice.

1.6.B Bank’s right to suspend and cancel

(a) The Bank may, by notice in writing to the Borrower, suspend and/or cancel the undisbursed portion of the Credit in whole or in part at any time and with immediate effect

(i) upon the occurrence of a Prepayment Event or an Event of Default or an event or circumstance which would with the passage of time or giving of notice under this Contract constitute a Prepayment Event or an Event of Default; or

(ii) if the Republic of Serbia is no longer an eligible country for operations under the Mandate.

(b) The Bank may also suspend the portion of the Credit in respect of which it has not received a Disbursement Acceptance with immediate effect in the case that a Market Disruption Event occurs.

1.6.C Indemnity for suspension and cancellation of a Tranche

1.6.C(1) SUSPENSION

If the Bank suspends an Accepted Tranche, whether upon an Indemnifiable Prepayment Event or an Event of Default, the Borrower shall pay to the Bank the Deferment Indemnity calculated on the amount of disbursement suspended.

1.6.C(2) CANCELLATION

(a) If pursuant to Article 1.6.A, the Borrower cancels:

(i) a Fixed Rate Tranche which is an Accepted Tranche, it shall indemnify the Bank under Article 4.2.B;

(ii) a Floating Rate Tranche which is an Accepted Tranche or any part of the Credit other than an Accepted Tranche, no indemnity is payable.

(b) If the Bank cancels:

(i) a Fixed Rate Tranche which is an Accepted Tranche upon an Indemnifiable Prepayment Event or upon the occurrence of a Material Adverse Change or pursuant to Article 1.5.B or Article 1.6.B(a)(ii), the Borrower shall pay to the Bank the Prepayment Indemnity; or

(ii) an Accepted Tranche upon an Event of Default, the Borrower shall indemnify the Bank under Article 10.3.

Save in these cases, no indemnity is payable upon cancellation of a Tranche by the Bank.

The indemnity shall be calculated as if the cancelled amount had been disbursed and repaid on the Scheduled Disbursement Date or, to the extent that the disbursement of the Tranche is currently deferred or suspended, on the date of the cancellation notice.

1.7 Cancellation after expiry of the Credit

On the day following the Final Availability Date, and unless otherwise specifically agreed to in writing by the Bank, the part of the Credit in respect of which no Disbursement Acceptance has been received in accordance with Article 1.2.C shall be automatically cancelled, without any notice being served by the Bank to the Borrower and without liability arising on the part of either party.

1.8 Sums due under Article 1

Sums due under Articles 1.5 and 1.6 shall be payable in EUR. They shall be payable within 15 (fifteen) days of the Borrower’s receipt of the Bank’s demand or within any longer period specified in the Bank’s demand.

2.1 Amount of Loan

ARTICLE 2

The Loan

The Loan shall comprise the aggregate amount of Tranches disbursed by the Bank under the Credit, as confirmed by the Bank pursuant to Article 2.3.

2.2 Currency of repayment, interest and other charges

Interest, repayments and other charges payable in respect of each Tranche shall be made by the Borrower in the currency in which the Tranche is disbursed.

Any other payment shall be made in the currency specified by the Bank having regard to the currency of the expenditure to be reimbursed by means of that payment.

2.3 Confirmation by the Bank

Within 10 (ten) days after disbursement of each Tranche, the Bank shall deliver to the Borrower the amortisation table referred to in Article 4.1, if appropriate, showing the Disbursement Date, currency, the amount disbursed, the repayment terms and the interest rate of and for that Tranche.

ARTICLE 3

Interest

3.1 Rate of interest

Fixed Rates and Spreads are available for periods of not less than 4 (four) years or, in the absence of a repayment of principal during that period, not less than 3 (three) years.

3.1.A Fixed Rate Tranches

The Borrower shall pay interest on the outstanding balance of each Fixed Rate Tranche at the Fixed Rate quarterly, semi-annually or annually in arrears on the relevant Payment Dates as specified in the Disbursement Offer, commencing on the first such Payment Date following the Disbursement Date of the Tranche. If the period from the Disbursement Date to the first Payment Date is 15 (fifteen) days or less then the payment of interest accrued during such period shall be postponed to the following Payment Date.

Interest shall be calculated on the basis of Article 5.1(a).

3.1.B Floating Rate Tranches

The Borrower shall pay interest on the outstanding balance of each Floating Rate Tranche at the Floating Rate quarterly, semi-annually or annually in arrears on the relevant Payment Dates, as specified in the Disbursement Offer commencing on the first such Payment Date following the Disbursement Date of the Tranche. If the period from the Disbursement Date to the first Payment Date is 15 (fifteen) days or less then the payment of interest accrued during such period shall be postponed to the following Payment Date.

The Bank shall notify the Floating Rate to the Borrower within 10 (ten) days following the commencement of each Floating Rate Reference Period.

If pursuant to Articles 1.5 and 1.6 disbursement of any Floating Rate Tranche takes place after the Scheduled Disbursement Date EURIBOR applicable to the first Floating Rate Reference Period shall apply as though the disbursement had been made on the Scheduled Disbursement Date.

Interest shall be calculated in respect of each Floating Rate Reference Period on the basis of Article 5.1(b). If the Floating Rate for any Floating Rate Reference Period is below zero, it will be set at zero.

3.1.C Revision or Conversion of Tranches

Where the Borrower exercises an option to revise or convert the interest rate basis of a Tranche, it shall, from the effective Interest Revision/Conversion Date (in accordance with the procedure set out in Schedule D) pay interest at a rate determined in accordance with the provisions of Schedule D.

3.2 Interest on overdue sums

Without prejudice to Article 10 and by way of exception to Article 3.1, if the Borrower fails to pay any amount payable by it under this Contract on its due date, interest shall accrue subject to mandatory provisions of the applicable laws, including Article 1154 of the Luxembourg Civil Code on any overdue amount payable under the terms of this Contract from the due date to the date of payment at an annual rate equal to:

(a) for overdue sums related to Floating Rate Tranches, the applicable Floating Rate plus 2% (200 basis points);

(b) for overdue sums related to Fixed Rate Tranches, the higher of (a) the applicable Fixed Rate plus 2% (200 basis points) or (b) EURIBOR plus 2% (200 basis points); and

and shall be payable in accordance with the demand of the Bank. For the purpose of determining the EURIBOR in relation to this Article 3.2, the relevant periods within the meaning of Schedule B shall be successive periods of one month commencing on the due date.

If the overdue sum is in a currency other than the currency of the Loan, the following rate per annum shall apply, namely the relevant interbank rate that is generally retained by the Bank for transactions in that currency plus 2% (200 basis points), calculated in accordance with the market practice for such rate.

3.3 Market Disruption Event

If at any time (i) from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and (ii) until the date falling thirty (30) calendar days prior to the Scheduled Disbursement Date, a Market Disruption Event occurs, the Bank may notify to the Borrower that this clause has come into effect. In such case, the rate of interest applicable to such Accepted Tranche until the Maturity Date or the Interest Revision/Conversion Date if any, shall be the percentage rate per annum which is the rate (expressed as a percentage rate per annum) which is determined by the Bank to be the all-inclusive cost to the Bank for the funding of the relevant Tranche based upon the then applicable internally generated Bank reference rate or an alternative rate determination method reasonably determined by the Bank.

The Borrower shall have the right to refuse in writing such disbursement within the deadline specified in the notification and shall bear charges incurred as a result, if any, in which case the Bank shall not effect the disbursement and the corresponding portion of the Credit shall remain available for disbursement under Article 1.2.B. If the Borrower does not refuse the disbursement in time, the parties agree that the disbursement and the conditions thereof shall be fully binding for both parties.

In such case, the Spread or the Fixed Rate previously notified by the Bank in the Disbursement Offer shall no longer be applicable.

ARTICLE 4

Repayment

4.1 Normal repayment

4.1.A Repayment by instalments

(a) The Borrower shall repay each Tranche by instalments on the Payment Dates specified in the relevant Disbursement Offer in accordance with the terms of the amortisation table delivered pursuant to Article 2.3.

(b) Each amortisation table shall be drawn up on the basis that:

(i) in the case of a Fixed Rate Tranche without an Interest Revision/Conversion Date, repayment shall be made annually, semi-annually or quarterly by equal instalments of principal or constant instalments of principal and interest;

(ii) in the case of a Fixed Rate Tranche with an Interest Revision/Conversion Date or a Floating Rate Tranche, repayment shall be made by equal annual, semi-annual or quarterly instalments of principal;

(iii) first repayment date of each Tranche shall be a Payment Date falling not earlier than 60 (sixty) days from the Scheduled Disbursement Date and not later than the first Payment Date immediately following the 5th (fifth) anniversary of the Scheduled Disbursement Date of the Tranche; and

(iv) the last repayment date of each Tranche shall be a Payment Date falling not earlier than 4 (four) years and not later than 25 (twenty- five) years from the Scheduled Disbursement Date.

4.2 Voluntary prepayment

4.2.A Prepayment option

Subject to Articles 4.2.B, 4.2.C and 4.4, the Borrower may prepay all or part of any Tranche, together with accrued interest and indemnities if any, upon giving a Prepayment Request with at least 1 (one) month's prior notice specifying (i) the Prepayment Amount; (ii) the Prepayment Date; (iii) if applicable, the choice of application method of the Prepayment Amount in line with Article 5.5.C(a); and (iv) the contract number ("FI nr 86763") mentioned on the cover page of this Contract.

Subject to Article 4.2.C the Prepayment Request shall be binding and irrevocable.

4.2.B Prepayment indemnity

4.2.B(1) FIXED RATE TRANCHE

Subject to Article 4.2.B(3) below, if the Borrower prepays a Fixed Rate Tranche, the Borrower shall pay to the Bank on the Prepayment Date the Prepayment Indemnity in respect of the Fixed Rate Tranche which is being prepaid.

4.2.B(2) FLOATING RATE TRANCHE

Subject to Article 4.2.B(3) below, the Borrower may prepay a Floating Rate Tranche without indemnity on any relevant Payment Date.

4.2.B(3) NO INDEMNITY

Unless the Borrower has accepted in writing a Fixed Rate in respect of an Interest Revision/Conversion Proposal pursuant to Schedule D, prepayment of a Tranche on its Interest Revision/Conversion Date as accepted under Article 1.2.C, or in accordance with Schedule C or Schedule D, as the case may be, may be effected without indemnity.

4.2.C Prepayment mechanics

Upon presentation by the Borrower to the Bank of a Prepayment Request, the Bank shall issue a Prepayment Notice to the Borrower, not later than 15 (fifteen) days prior to the Prepayment Date. The Prepayment Notice shall specify the Prepayment Amount, the accrued interest due thereon, the Prepayment Indemnity payable under Article 4.2.B or, as the case may be, that no indemnity is due, the method of application of the Prepayment Amount and the Acceptance Deadline.

If the Borrower accepts the Prepayment Notice no later than by the Acceptance Deadline, it shall effect the prepayment. In any other case, the Borrower may not effect the prepayment.

The Borrower shall accompany the prepayment by the payment of accrued interest and indemnity, if any, due on the Prepayment Amount, as specified in the Prepayment Notice.

4.3 Compulsory prepayment

4.3.A Prepayment Events

4.3.A(1) PROJECT COST REDUCTION

If the total cost of the Project falls below the figure stated in Recital (c) so that the amount of the Credit exceeds:

(a) 50% (fifty per cent); and/or

(b) when aggregated with the amount of any other funds from the European Union made available for the Project, 90% (ninety per cent),

of such total cost of the Project, the Bank may forthwith, by notice to the Borrower, cancel the undisbursed portion of the Credit and/or demand prepayment of the Loan up to the amount by which the Credit exceeds the limits referred to in (a) or (b) above. 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.

4.3.A(2) PARI PASSU TO NON-EIB FINANCING

If the Borrower voluntarily prepays (for the avoidance of doubt, prepayment shall include a repurchase or cancellation where applicable) a part or the whole of any Non-EIB Financing and:

(a) such prepayment is not made within a revolving credit facility (save for the cancellation of the revolving credit facility); or

(b) 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, credit bond or other form of financial indebtedness or any obligation for the payment or repayment of money originally granted to the Borrower for a term of more than 5 (five) years.

4.3.A(3) CHANGE OF LAW

The Borrower shall promptly inform the Bank if a Change-of-Law Event has occurred or is likely to occur. In such case, or if the Bank has reasonable cause to believe that a Change-of-Law Event has occurred or is about to occur, the Bank may request that the Borrower consult with it. Such consultation shall take place within 30 (thirty) days from the date of the Bank’s request. If, after the lapse of 30 (thirty) days from the date of such request for consultation the Bank is of the opinion that the effects of the Change-of-Law Event cannot be mitigated to its satisfaction, the Bank may by notice to the Borrower, cancel the undisbursed portion of the Credit and demand prepayment of the Loan, together with accrued interest and all other amounts accrued or outstanding under this Contract.

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 "Change-of-Law Event" means the enactment, promulgation, execution or ratification of or any change in or amendment to any law, rule or regulation (or in the application or official interpretation of any law, rule or regulation) that occurs after the date of this Contract and which, in the reasonable opinion of the Bank, would materially impair the Borrower's ability to perform its obligations under this Contract or any Security provided in respect of this Contract.

4.3.A(4) ILLEGALITY

(a) it becomes unlawful in any applicable jurisdiction for the Bank to perform any of its obligations as contemplated in this Contract or to fund or maintain the Loan, or

(b) the Framework Agreement is or is likely to be:

(i) repudiated by the Republic of Serbia or not binding on the Republic of Serbia in any respect; or

(ii) not effective in accordance with its terms or is alleged by the Republic of Serbia to be ineffective in accordance with its terms, or

(iii) breached, in that any obligation assumed by the Republic of Serbia under the Framework Agreement ceases to be fulfilled as regards any loan made to any borrower in the territory of Serbia from the resources of the Bank, or the EU;

(i) it is no longer valid or in full force and effect;

(ii) the conditions for cover thereunder are not fulfilled; or

(iii) it is not effective in accordance with its terms or is alleged to be ineffective in accordance with its terms,

the Bank may, by notice to the Borrower, immediately (i) suspend or cancel the undisbursed portion of the Credit and/or (ii) demand prepayment of the Loan, together with accrued interest and all other amounts accrued or outstanding under this Contract on the date indicated by the Bank in its notice to the Borrower. The Borrower shall effect payment of the amount demanded on the date specified by the Bank, such date being:

(a) in the case of occurrence of the events set out in paragraphs (b) and

(b) in the case of occurrence of the event set out in paragraph (a) of this Article, the date falling not less than 30 (thirty) days from the date of the demand or, if earlier, the last day of any applicable grace period permitted by law.

4.3.A(5) PROJECT IMPLEMENTATION AGREEMENT

If:

(a) any breach by the Promoter or the Final Beneficiary of any of its obligations under the Project Implementation Agreement occurs or any Material Adverse Change (as such term is defined in the Project Implementation Agreement) occurs, as compared with the Final Beneficiary's condition at the date of the Project Implementation Agreement;

(b) any information or document given to the Bank by or on behalf of the Promoter or the Final Beneficiary or any representation or statement made or deemed to be made by the Promoter or the Final Beneficiary in application of the Project implementation Agreement is or proves to have been incorrect, incomplete or misleading in any material respect; or

(c) it is or becomes unlawful for the Promoter or the Final Beneficiary to perform any of its obligations under the Project Implementation Agreement or if the Project Implementation Agreement is not effective in accordance with its terms or is alleged by the Promoter or the Final Beneficiary to be ineffective in accordance with its terms,

the Bank may, by notice to the Borrower, immediately (i) cancel the undisbursed portion of the Credit and/or (ii) demand prepayment of the Loan, together with accrued interest and all other amounts accrued or outstanding under this Contract. 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.

4.3.B Prepayment mechanics

Any sum demanded by the Bank pursuant to Article 4.3.A, together with any interest or other amounts accrued or outstanding under this Contract including, without limitation, any indemnity due under Article 4.3.C and Article 4.4, shall be paid on the date indicated by the Bank in its notice of demand.

4.3.C Prepayment indemnity

In the case of an Indemnifiable Prepayment Event, the indemnity, if any, shall be determined in accordance with Article 4.2.B.

4.4 General

A repaid or prepaid amount may not be reborrowed. This Article 4 shall not prejudice Article 10.

If the Borrower prepays a Tranche on a date other than a relevant Payment Date, the Borrower shall indemnify the Bank in such amount as the Bank shall certify is required to compensate it for receipt of funds otherwise than on a relevant Payment Date.

ARTICLE 5

Payments

5.1 Day count convention

Any amount due by way of interest, indemnity or fee from the Borrower under this Contract, and calculated in respect of a fraction of a year, shall be determined on the following respective conventions:

(a) in respect of interest and indemnities due under a Fixed Rate Tranche, a year of 360 (three hundred and sixty) days and a month of 30 (thirty) days;

(b) in respect of interest and indemnities due under a Floating Rate Tranche, a year of 360 (three hundred and sixty) days and the number of days elapsed; and

5.2 Time and place of payment

Unless otherwise specified in this Contract or in the Bank’s demand, all sums other than sums of interest, indemnity and principal are payable within 15 (fifteen) days of the Borrower’s receipt of the Bank’s demand.

Each sum payable by the Borrower under this Contract shall be paid to the relevant account notified by the Bank to the Borrower. The Bank shall notify the account not less than 15 (fifteen) days before the due date for the first payment by the Borrower and shall notify any change of account not less than 15 (fifteen) days before the date of the first payment to which the

change applies. This period of notice does not apply in the case of payment under Article 10.

The Borrower shall indicate in each payment made hereunder the contract number "FI nr 86763" (found on the cover page of this Contract).

A sum due from the Borrower shall be deemed paid when the Bank receives it.

Any disbursements by and payments to the Bank under this Contract shall be made using account(s) acceptable to the Bank. For the avoidance of doubt, any account in the name of the Borrower held with a duly authorised financial institution in the jurisdiction where the Borrower is incorporated is deemed acceptable to the Bank.

5.3 No set-off by the Borrower

All payments to be made by the Borrower under this Contract shall be calculated and be made without (and free and clear of any deduction for) set-off or counterclaim.

5.4 Disruption to Payment Systems

If either the Bank determines (in its discretion) that a Disruption Event has occurred or the Bank is notified by the Borrower that a Disruption Event has occurred:

(a) the Bank may, and shall if requested to do so by the Borrower, consult with the Borrower with a view to agreeing with the Borrower such changes to the operation or administration of this Contract as the Bank may deem necessary in the circumstances;

(b) the Bank shall not be obliged to consult with the Borrower in relation to any changes mentioned in paragraph (a) if, in its opinion, it is not practicable to do so in the circumstances and, in any event, shall have no obligation to agree to such changes; and

(c) the Bank shall not be liable for any damages, costs or losses whatsoever arising as a result of a Disruption Event or for taking or not taking any action pursuant to or in connection with this Article 5.4.

5.5 Application of sums received

5.5.A General

Sums received from the Borrower shall only discharge its payment obligations if received in accordance with the terms of this Contract.

5.5.B Partial payments

If the Bank receives a payment that is insufficient to discharge all the amounts then due and payable by the Borrower under this Contract, the Bank shall apply that payment:

(a) firstly, in or towards payment pro rata of any unpaid fees, costs, indemnities and expenses due under this Contract;

(b) secondly, in or towards payment of any accrued interest due but unpaid under this Contract;

(d) fourthly, in or towards payment of any other sum due but unpaid under this Contract.

5.5.C Allocation of sums related to Tranches

(a) In case of:

(i) a partial voluntary prepayment of a Tranche that is subject to a repayment in several instalments, the Prepayment Amount shall be applied pro rata to each outstanding instalment, or, at the request of the Borrower, in inverse order of maturity; or

(ii) a partial compulsory prepayment of a Tranche that is subject to a repayment in several instalments, the Prepayment Amount shall be applied in reduction of the outstanding instalments in inverse order of maturity.

(b) Sums received by the Bank following a demand under Article 10.1 and applied to a Tranche, shall reduce the outstanding instalments in inverse order of maturity. The Bank may apply sums received between Tranches at its discretion.

(c) In case of receipt of sums which cannot be identified as applicable to a specific Tranche, and on which there is no agreement between the Bank and the Borrower on their application, the Bank may apply these between Tranches at its discretion.

ARTICLE 6

Borrower undertakings and representations

The undertakings in this Article 6 remain in force from the date of this Contract for so long as any amount is outstanding under this Contract or the Credit is in force.

A. PROJECT UNDERTAKINGS

6.1 Use of Loan and availability of other funds

The Borrower shall ensure that the sums disbursed as Loan to the Borrower under this Contract is made available to the Final Beneficiary exclusively for the financing of the Project and in such manner and time as to allow the Final Beneficiary to implement the Project under the terms of the Project Implementation Agreement.

The Borrower shall ensure that it has available to it the other funds listed in Recital (c) and that such funds are expended, to the extent required, on the financing of the Project.

6.2 Increased cost of Project

If the total cost of the Project exceeds the estimated figure set out in Recital (c), the Borrower shall obtain the finance to fund the excess cost without recourse to the Bank, so as to enable the Project to be completed in accordance with the Technical Description. The plans for funding the excess cost shall be communicated to the Bank without delay.

B. GENERAL UNDERTAKINGS

6.3 Compliance with laws

The Borrower shall comply in all respects with all laws and regulations to which it is subject.

6.4 Integrity

(a) Prohibited Conduct: The Borrower shall not engage in (and shall not authorise or permit any affiliate or any other Person acting on its behalf to engage in) any Prohibited Conduct in connection with the any transaction contemplated by the Contract.

(b) Sanctions: The Borrower shall not (i) enter into a business relationship with any Sanctioned Person, or (ii) make any funds available to or for the benefit of, directly or indirectly, any Sanctioned Person.

(c) Xxxxxxxx’x Officials: The Borrower undertakes to take within a reasonable timeframe appropriate measures in respect of any official or person holding a public office who:

(i) becomes a Sanctioned Person; or

(ii) is the subject of a final and irrevocable court ruling in connection with Prohibited Conduct perpetrated in the course of the exercise of their professional duties,

in order to ensure that such member is suspended, dismissed or in any case excluded from any Xxxxxxxx’x activities in relation to the Loan.

6.5 General Representations and Warranties

The Borrower represents and warrants to the Bank that:

(a) it has the power to execute, deliver and perform its obligations under this Contract and all necessary governmental and other actions have been taken to authorise the execution, delivery and performance of the same by it;

(b) this Contract constitutes its legally valid, binding and enforceable obligations;

(c) the execution and delivery of, the performance of its obligations under and compliance with the provisions of this Contract do not and will not contravene or conflict with:

(i) any applicable law, statute, rule or regulation, or any judgement, decree or permit to which it is subject;

(ii) any agreement or other instrument binding upon it which might reasonably be expected to have a material adverse effect on its ability to perform its obligations under this Contract;

(d) there has been no Material Adverse Change since 15 November 2017 on which the Bank’s Management Committee approved this loan operation as documented under this Contract;

(e) no event or circumstance which constitutes a Prepayment Event or an Event of Default has occurred and is continuing unremedied or unwaived;

(f) no litigation, arbitration, administrative proceedings or investigation is current or to its knowledge is threatened or pending before any court, arbitral body or agency which has resulted or if adversely determined is reasonably likely to result in a Material Adverse Change, nor is there subsisting against it or any of its subsidiaries any unsatisfied judgement or award;

(g) it has obtained all necessary Authorisations in connection with this Contract and in order to lawfully comply with its obligations hereunder and all such Authorisations are in full force and effect and admissible in evidence;

(h) its payment obligations under this Contract rank not less than pari passu in right of payment with all other present and future unsecured and unsubordinated obligations under any of its debt instruments except for obligations mandatorily preferred by law;

(i) it is in compliance with all undertakings under this Article 6;

(j) no loss of rating clause or financial covenants have been concluded with any other creditor of the Borrower (as described in Article 7.3);

(k) to the best of its knowledge, no funds invested in the Project by the Borrower are of illicit origin, including products of Money Laundering or linked to the Financing of Terrorism; and

(l) neither the Borrower, its officials, or persons holding a public office nor acting on its or their behalf or under its or their control, has committed nor will commit (i) any Prohibited Conduct any transaction contemplated by the Contract; or (ii) any illegal activity related to the Financing of Terrorism or Money Laundering; and

The representations and warranties set out above shall survive the execution of this Contract and are, with the exception of the representation set out in paragraph (d) above, deemed repeated on each date of Disbursement Acceptance, Disbursement Date and on each Payment Date.

ARTICLE 7

Security

The undertakings in this Article 7 remain in force from the date of this Contract for so long as any amount is outstanding under this Contract or the Credit is in force.

7.1 Pari passu ranking

The Borrower shall ensure that its payment obligations under this Contract rank, and will rank, not less than pari passu in right of payment with all other present and future unsecured and unsubordinated obligations under any of its debt instruments except for obligations mandatorily preferred by law.

In particular, if the Bank makes a demand under Article 10.01 or if an event or potential event of default under any unsecured and unsubordinated External Debt Instrument of the Borrower or of any of its agencies or instrumentalities has occurred and is continuing, the Borrower shall not make (or authorize) any payment in respect of any other such External Debt Instrument (whether regularly scheduled or otherwise) without simultaneously paying, or setting aside in a designated account for payment on the next Payment Date a sum equal to, the same proportion of the debt outstanding under this Contract as the proportion that the payment under such External Debt Instrument bears to the total debt outstanding under that External Debt Instrument. For this purpose, any payment of an External Debt Instrument that is made out of the proceeds of the issue of another instrument, to which substantially the same persons as hold claims under the External Debt Instrument have subscribed, shall be disregarded.

In this Contract, "External Debt Instrument" means (a) an instrument, including any receipt or statement of account, evidencing or constituting an obligation to repay a loan, deposit, advance or similar extension of credit (including without limitation any extension of credit under a refinancing or rescheduling agreement), (b) an obligation evidenced by a bond, debenture or similar written evidence of indebtedness or (c) a guarantee granted by the Borrower for an obligation of a third party; provided in each case that such obligation is: (i) governed by a system of law other than the law of the Borrower; or (ii) payable in a currency other than the currency of the Borrower's country; or (iii) payable to a person incorporated, domiciled, resident or with its head office or principal place of business outside the Borrower's country.

7.2 Additional Security

If the Borrower grant to a third party any security for the performance of any External Debt Instrument or any preference or priority in respect thereof, the Borrower shall, if so required by the Bank, provide to the Bank equivalent security for the performance of its obligations under this Contract or grant to the Bank equivalent preference or priority.

7.3 Clauses by inclusion

If the Borrower concludes with any other financial creditor a financing agreement that includes a loss-of-rating clause or a covenant or other provision regarding its financial ratios, if applicable, that is not provided for in this Contract or is more favourable to the relevant financial creditor than any equivalent provision of this Contract is to the Bank, the Borrower shall promptly inform the Bank and shall provide a copy of the more favourable provision to the Bank. The Bank may request that the Borrower promptly executes an agreement to amend this Contract so as to provide for an equivalent provision in favour of the Bank.

ARTICLE 8

Information and Visits

8.1 Information concerning the Borrower

The Borrower shall:

(a) deliver to the Bank:

(i) from time to time, such further information on its general financial situation as the Bank may reasonably require or such certificates of compliance with the undertakings of Article 6 as the Bank may deem necessary; and

(ii) any such information or further document concerning customer due diligence matters of or for the Borrower as the Bank may reasonably require within a reasonable time;

(b) inform the Bank immediately of:

(i) any fact which obliges it to prepay any financial indebtedness or any European Union funding;

(ii) any event or decision that constitutes or may result in a Prepayment Event;

(iii) any intention on its part to grant any Security over any of its assets in favour of a third party;

(iv) any fact or event that is reasonably likely to prevent the substantial fulfilment of any obligation of the Borrower under this Contract;

(v) any Event of Default having occurred or being threatened or anticipated;

(vi) any fact or event which results in the Borrower’s officials or persons holding a public office being a Sanctioned Person;

(vii) to the extent permitted by law, any material litigation, arbitration, administrative proceedings or investigation carried out by a court, administration or similar public authority, which, to the best of its knowledge and belief, is current, imminent or pending against the Borrower or its officials or persons holding a public office, in connection with Prohibited Conduct related to the Loan;

(viii) any measure taken by the Borrower pursuant to Article 6.4 of this Contract; and

(ix) any litigation, arbitration or administrative proceedings or investigation which is current, threatened or pending and which might if adversely determined result in a Material Adverse Change.

ARTICLE 9

Charges and expenses

9.1 Taxes, duties and fees

The Borrower shall pay all Taxes, duties, fees and other impositions of whatsoever nature, including stamp duty and registration fees, arising out of the execution or implementation of this Contract and the Project Implementation Agreement or any related document and in the creation, perfection, registration or enforcement of any Security for the Loan to the extent and if applicable. In such cases, the Borrower shall ensure that the proceeds of the Loan and/or any technical cooperation funds shall not be used for financing of custom duties and Taxes levied by, or in the territory of, the Borrower in respect of all goods, works and services (including consultancy services) procured by the Promoter and/or the Final Beneficiary for the purposes of the Project.

The Borrower shall pay all principal, interest, indemnities and other amounts due under this Contract and the Project Implementation Agreement gross without deduction of any national or local impositions whatsoever; provided that, if the Borrower is obliged to make any such deduction, it will gross up the payment to the Bank so that after deduction, the net amount received by the Bank is equivalent to the sum due.

9.2 Other charges

The Borrower shall bear all charges and expenses, including professional, banking or exchange charges incurred in connection with the preparation, execution, implementation, enforcement and termination of this Contract and the Project Implementation Agreement or any related document, any amendment, supplement or waiver in respect of this Contract and the Project Implementation Agreement or any related document, and in the amendment, creation, management, enforcement and realisation of any security for the Loan.

9.3 Increased costs, indemnity and set-off

(a) The Borrower shall pay to the Bank any sums or expenses incurred or suffered by the Bank as a consequence of the introduction of or any change in (or in the interpretation, administration or application of) any law or regulation or compliance with any law or regulation made after the date of signature of this Contract, in accordance with or as a result of which (i) the Bank is obliged to incur additional costs in order to fund or perform its obligations under this Contract, or (ii) any amount owed to the Bank under this Contract or the financial income resulting from the granting of the Credit or the Loan by the Bank to the Borrower is reduced or eliminated.

(b) Without prejudice to any other rights of the Bank under this Contract or under any applicable law, the Borrower shall indemnify and hold the Bank harmless from and against any loss incurred as a result of any payment or partial discharge that takes place in a manner other than as expressly set out in this Contract.

(c) The Bank may set off any matured obligation due from the Borrower under this Contract (to the extent beneficially owned by the Bank) against any obligation (whether or not matured) owed by the Bank to the Borrower regardless of the place of payment, booking branch or currency of either obligation. If the obligations are in different currencies, the Bank may convert either obligation at a market rate of exchange in its usual course of business for the purpose of the set-off. If either obligation is unliquidated or unascertained, the Bank may set off in an amount estimated by it in good faith to be the amount of that obligation.

ARTICLE 10

Events of Default

10.1 Right to demand repayment

The Borrower shall repay all or part of the Loan (as requested by the Bank) forthwith, together with accrued interest and all other accrued or outstanding amounts under this Contract, upon written demand being made by the Bank in accordance with the following provisions.

10.1.A Immediate demand

The Bank may make such demand immediately:

(a) if the Borrower does not pay on the due date any amount payable pursuant to this Contract at the place and in the currency in which it is expressed to be payable, unless (i) its failure to pay is caused by an administrative or technical error or a Disruption Event and (ii) payment is made within 3 (three) Business Days of its due date;

(b) if any information or document given to the Bank by or on behalf of the Borrower or any representation, warranty or statement made or deemed to be made by the Borrower in or pursuant to this Contract or in connection with the negotiation or performance of this Contract is or proves to have been incorrect, incomplete or misleading in any material respect;

(c) if, following any default of the Borrower in relation to any loan, or any obligation arising out of any financial transaction, other than the Loan,

(i) the Borrower is required or is capable of being required or will, following expiry of any applicable contractual grace period, be required or be capable of being required to prepay, discharge, close out or terminate ahead of maturity such other loan or obligation or

(ii) any financial commitment for such other loan or obligation is cancelled or suspended;

(d) if the Borrower is unable to pay its debts as they fall due, or suspends its debts, or makes or seeks to make a composition with its creditors including a moratorium, or commences negotiations with one or more of its creditors with a view to rescheduling any of its financial indebtedness (or any analogous proceedings);

(e) if the Borrower defaults in the performance of any obligation in respect of any other loan granted by the Bank or financial instrument entered into with the Bank;

(f) if the Borrower defaults in the performance of any obligation in respect of any other loan made to it from the resources of the Bank or the European Union;

(g) if any distress, execution, sequestration or other process is levied or enforced upon the property of the Borrower or any property forming part of the Project and is not discharged or stayed within 14 (fourteen) days;

(h) if a Material Adverse Change occurs, as compared with the Borrower’s condition at the date of this Contract; or

(i) if it is or becomes unlawful for the Borrower to perform any of its obligations under this Contract or this Contract is not effective in accordance with its terms or is alleged by the Borrower to be ineffective in accordance with its terms.

10.1.B Demand after notice to remedy

The Bank may also make such demand:

(a) if the Borrower fails to comply with any obligation under this Contract not being an obligation mentioned in Article 10.1.A; or

(b) if any fact related to the Borrower or the Project stated in the Recitals materially alters and is not materially restored and if the alteration either prejudices the interests of the Bank as lender to the Borrower or adversely affects the implementation or operation of the Project,

unless the non-compliance or circumstance giving rise to the non- compliance is capable of remedy and is remedied within a reasonable period of time specified in a notice served by the Bank on the Borrower.

10.2 Other rights at law

Article 10.1 shall not restrict any other right of the Bank at law to require prepayment of the Loan.

10.3 Indemnity

10.3.A Fixed Rate Tranches

In case of demand under Article 10.1 in respect of any Fixed Rate Tranche, the Borrower shall pay to the Bank the amount demanded together with the Prepayment Indemnity on any amount of principal due to be prepaid. Such

Prepayment Indemnity shall accrue from the due date for payment specified in the Bank’s notice of demand and be calculated on the basis that prepayment is effected on the date so specified.

10.3.B Floating Rate Tranches

In case of demand under Article 10.1 in respect of any Floating Rate Tranche, the Borrower shall pay to the Bank the amount demanded together with a sum equal to the present value of 0.15% (fifteen basis points) per annum calculated and accruing on the amount of principal due to be prepaid in the same manner as interest would have been calculated and would have accrued, if that amount had remained outstanding according to the original amortisation schedule of the Tranche, until the Interest Revision/Conversion Date, if any, or the Maturity Date.

The value shall be calculated at a discount rate equal to the Redeployment Rate applied as of each relevant Payment Date.

10.3.C General

Amounts due by the Borrower pursuant to this Article 10.3 shall be payable on the date of prepayment specified in the Bank’s demand.

10.4 Non-Waiver

No failure or delay or single or partial exercise by the Bank in exercising any of its rights or remedies under this Contract shall be construed as a waiver of such right or remedy. The rights and remedies provided in this Contract are cumulative and not exclusive of any rights or remedies provided by law.

ARTICLE 11

Law and jurisdiction, miscellaneous

11.1 Governing Law

This Contract shall be governed by the laws of the Grand Duchy of Luxembourg.

11.2 Jurisdiction

(a) The parties hereby submit to the jurisdiction of the Court of Justice of the European Union to settle any dispute arising out of or in connection with this Contract (including a dispute regarding the existence, validity or termination of this Contract or the consequences of its nullity).

(b) The parties to this Contract hereby waive any immunity from or right to object to the jurisdiction of the Court of Justice of the European Union. A decision of the Court of Justice of the European Union given pursuant to this Article shall be conclusive and binding on each party without restriction or reservation.

11.3 Place of performance

Unless otherwise specifically agreed by the Bank in writing, the place of performance of the financial obligations under this Contract, shall be the seat of the Bank.

11.4 Evidence of sums due

In any legal action arising out of this Contract the certificate of the Bank as to any amount or rate due to the Bank under this Contract shall, in the absence of manifest error, be prima facie evidence of such amount or rate.

11.5 Entire Agreement

This Contract constitutes the entire agreement between the Bank and the Borrower in relation to the provision of the Credit hereunder, and supersedes any previous agreement, whether express or implied, on the same matter.

11.6 Invalidity

If at any time any term of this Contract is or becomes illegal, invalid or unenforceable in any respect, or this Contract is or becomes ineffective in any respect, under the laws of any jurisdiction, such illegality, invalidity, unenforceability or ineffectiveness shall not affect:

(a) the legality, validity or enforceability in that jurisdiction of any other term of this Contract or the effectiveness in any other respect of this Contract in that jurisdiction; or

(b) the legality, validity or enforceability in other jurisdictions of that or any other term of this Contract or the effectiveness of this Contract under the laws of such other jurisdictions.

11.7 Amendments

Any amendment to this Contract shall be made in writing and shall be signed by the parties hereto.

ARTICLE 12

Final clauses

12.1 Notices to either party

Notices and other communications given under this Contract addressed to either party to this Contract shall be made to the address or facsimile number as set out below, or to such other address or facsimile number as a party previously notifies to the other in writing:

For the Bank

Attention: OPS/MA-3 PUB SEC (SI,HR,WBs)

000 xxxxxxxxx Xxxxxx Xxxxxxxx X-0000 Xxxxxxxxxx

Facsimile no: x000 0000 00000

For the Borrower

Ministry of Finance

00 Xxxxx Xxxxxx Xxxxxx 00000 Xxxxxxxx Xxxxxxxx xx Xxxxxx

Facsimile no: x000 00 0000 000

12.2 Form of notice

Any notice or other communication given under this Contract must be in writing.

Notices and other communications, for which fixed periods are laid down in this Contract or which themselves fix periods binding on the addressee, may be made by hand delivery, registered letter or facsimile. Such notices and communications shall be deemed to have been received by the other party on the date of delivery in relation to a hand-delivered or registered letter or on receipt of transmission in relation to a facsimile.

Other notices and communications may be made by hand delivery, registered letter or facsimile or, to the extent agreed by the parties by written agreement, by email or other electronic communication.

Without affecting the validity of any notice delivered by facsimile according to the paragraphs above, a copy of each notice delivered by facsimile shall also be sent by letter to the relevant party on the next following Business Day at the latest.

Notices issued by the Borrower pursuant to any provision of this Contract shall, where required by the Bank, be delivered to the Bank together with satisfactory evidence of the authority of the person or persons authorised to sign such notice on behalf of the Borrower and the authenticated specimen signature of such person or persons.

12.3 Entry into force

This Contract shall enter into force upon confirmation by the Bank to the Borrower that it has received a certified copy of the Official Gazette of the Republic of Serbia publishing the law on ratification of this Contract by the Parliament of the Republic of Serbia.

12.4 Recitals, Schedules

The Recitals and following Schedules form part of this Contract:

Schedule A	Summary Description of the Project
Schedule B	Definitions of EURIBOR
Schedule C	Form of Disbursement Offer/Acceptance (Articles 1.2.B and 1.2.C.)
Schedule D	Interest Rate Revision and Conversion
Schedule E	Certificates to be provided by the Borrower

IN WITNESS WHEREOF the parties hereto have caused this Contract to be executed in 6 (six) originals in the English language.

At Belgrade, this January 31, 2018

Signed for and on behalf of THE REPUBLIC OF SERBIA

The Minister of Finance

Xxxxx XXXXXXX

Signed for and on behalf of EUROPEAN INVESTMENT BANK

The Vice-President

Xxxxx XXXXXXXXXXX

Purpose, Location

Summary Description of the Project

Schedule A

The project consists of the reconstruction and modernisation of the existing single track railway line Sićevo – Dimitrovgrad, including rehabilitation and modernisation of infrastructure, electrification and modernisation of signalling, and construction of single track by-pass in the North of the City of Niš.

In particular, it consists of the following four Components:

1. Section Sićevo – Dimitrovgrad, reconstruction and modernisation civil works and track, preparatory works for electrification and signalling;

2. North by-pass of the City of Niš, single track electrified line;

3. Sections Crveni Krst – connection with the by-pass and Sićevo – Dimitrovgrad, electrification and signalling; and

4. Services for design, third party works supervision and implementation support plus preparation of future projects.

Description

The works will include:

 Components 1 and 3:

o dismantling of the existing trackwork and signalling equipment;

o rehabilitation of the track-bed, modification of the longitudinal profile and of the cross-section where necessary;

o extension of the useful length of the stations, 7 stations to 660m and 2 stations to 750m;

o rehabilitation of the existing and construction of new engineering structures;

o construction of the drainage network;

o installation of new trackwork;

o installation of new overhead contact line, 25 kV 50 Hz;

o construction of 2 new traction power substations, including 110 kV power intakes from the utility network and integration of the power substations in the remote control system in station Niš;

o installation of signalling equipment in the stations and blocks (the interlockings will be solid state suitable for further installation of ETCS), CTC central offices in station Niš;

o installation of telecommunications equipment;

o modernisation and upgrading of level crossing equipment on sections Sićevo- Dimitrovgrad and Niš-Crveni Krst;

o modernisation of the existing and construction of new platforms and installation of the related equipment; and

 Component 2:

o construction of the track-bed;

o construction of engineering structures;

o installations of trackwork;

o construction of two stations with useful length 750m;

o installation of overhead contact line, 25 kV 50 Hz;

o installation of signalling equipment in the stations and blocks (the interlockings will be solid state suitable for further installation of ETCS), CTC central offices in station Niš;

o installation of telecommunications equipment;

o any temporary works necessary to ensure the operation of the line during the works with an appropriate level of safety, availability and reliability.

Overall, the Project includes:

Track and overhead contact line
 Newly built track bed	22 km of line
 Modernisation of track bed	82 km of line
 Newly installed or renewed trackwork (length of track)	104 km over 108 km of line
 Newly installed or renewed overhead contact line (length of track)	108 km over 108 km of line
Engineering structures
 Railway bridges (newly built or reconstructed)	8
 Road overpasses (newly built or reconstructed)	3
 Road underpasses (newly built or reconstructed)	12
 Pedestrian overpasses (newly built or reconstructed)	0
 Pedestrian underpasses (newly built or reconstructed)	0
 Fauna crossings	0
 Culverts	163
Signalling
 Interlockings	13
 CTC offices (upgrade of existing)	1
Level crossings
 Upgraded level crossings	0
 Modernised level crossings (without changing category)	29
Passenger stations or halts
 Newly built passenger stations or halts	4
 Modernised passenger stations or halts	21
 Newly built platforms / platform edges	35

The modernised infrastructure will be for mixed use, passengers and freight. The main characteristics of the modernised lines will be as follows:

Maximum speed	80-120 km/h (as per the characteristics of the existing alignment on section Sićevo-Dimitrovgrad), 100-160 km/h on the North by-pass of the City of Niš
Axle load	22.5 t
Gauge	UIC-GC
Maximum train length	660m/750 m on section Sićevo-Dimitrovgrad, 750m on the North by-pass of the City of Niš
Capacity	46 pairs/day
Length of platforms	110m-400m on section Sićevo-Dimitrovgrad, 150m- 247m on the North by-pass of the City of Niš

Calendar

The works on the Project will be completed according to the following indicative implementation calendar:

1. Sićevo – Dimitrovgrad, civil works and track

Q3 2020

2. By-pass

Q4 2023

3. Niš – Dimitrovgrad, electrification and signalling

 Sićevo-Dimitrovgrad

 Crveni Krst – connection with the by-pass

Q1 2022

Q2 2023

EURIBOR

"EURIBOR" means:

Definitions

Schedule B

(a) in respect of a relevant period of less than one month, the Screen Rate (as defined below) for a term of one month;

(b) in respect of a relevant period of one or more months for which a Screen Rate is available, the applicable Screen Rate for a term for the corresponding number of months; and

(c) in respect of a relevant period of more than one month for which a Screen Rate is not available, the rate resulting from a linear interpolation by reference to two Screen Rates, one of which is applicable for a period next shorter and the other for a period next longer than the length of the relevant period,

(the period for which the rate is taken or from which the rates are interpolated being the "Representative Period").

For the purposes of paragraphs (b) and (c) above:

"available" means the rates, for given maturities, that are calculated and published by Global Rate Set Systems Ltd (GRSS), or such other service provider selected by the European Money Markets Institute (EMMI), under the sponsorship of EMMI and EURIBOR ACI, or any successor to that function of EMMI and EURIBOR ACI as determined by the Bank; and

"Screen Rate" means the rate of interest for deposits in EUR for the relevant period as published at 11h00, Brussels time, or at a later time acceptable to the Bank on the day (the "Reset Date") which falls 2 (two) Relevant Business Days prior to the first day of the relevant period, on Reuters page EURIBOR 01 or its successor page or, failing which, by any other means of publication chosen for this purpose by the Bank.

If such Screen Rate is not so published, the Bank shall request the principal euro- zone offices of four major banks in the euro-zone, selected by the Bank, to quote the rate at which EUR deposits in a comparable amount are offered by each of them as at approximately 11h00, Brussels time, on the Reset Date to prime banks in the euro- zone interbank market for a period equal to the Representative Period. If at least 2 (two) quotations are provided, the rate for that Reset Date will be the arithmetic mean of the quotations.

If fewer than 2 (two) quotations are provided as requested, the rate for that Reset Date will be the arithmetic mean of the rates quoted by major banks in the euro-zone, selected by the Bank, at approximately 11h00, Brussels time, on the day which falls 2 (two) Relevant Business Days after the Reset Date, for loans in EUR in a comparable amount to leading European banks for a period equal to the Representative Period.

If no rate is available as provided above, EURIBOR shall be the rate (expressed as a percentage rate per annum) which is determined by the Bank to be the all-inclusive cost to the Bank for the funding of the relevant Tranche based upon the then applicable internally generated Bank reference rate or an alternative rate determination method reasonably determined by the Bank.

GENERAL

For the purposes of the foregoing definitions:

(a) All percentages resulting from any calculations referred to in this Schedule will be rounded, if necessary, to the nearest one hundred-thousandth of a percentage point, with halves being rounded up.

(b) The Bank shall inform the Borrower without delay of the quotations received by the Bank.

(c) If any of the foregoing provisions becomes inconsistent with provisions adopted under the aegis of EMMI and EURIBOR ACI (or any successor to that function of EMMI and EURIBOR ACI as determined by the Bank) in respect of EURIBOR;

the Bank may by notice to the Borrower amend the provision to bring it into line with such other provisions.

Schedule C

Form of Disbursement Offer/Acceptance (Articles 1.2.B and 1.2.C.)

To: The Republic of Serbia From: European Investment Bank Date:

Subject: Disbursement Offer/Acceptance for the Finance Contract between European Investment Bank and The Republic of Serbia dated ● (the "Finance Contract")

FI number 86763 Serapis number 2016-0341

Dear Sirs,

We refer to the Finance Contract. Terms defined in the Finance Contract have the same meaning when used in this letter.

Following your request for a Disbursement Offer from the Bank, in accordance with Article 1.2.B of the Finance Contract, we hereby offer to make available to you the following Tranche:

(a) Component(s) to be financed:

(b) Currency and amount to be disbursed and its EUR equivalent:

(d) Interest rate basis:

(e) Interest payment periodicity:

(f) Payment Dates:

(g) Terms for repayment of principal:

(h) The first and last principal repayment dates:

(i) The Interest Revision/Conversion Date:

(j) The Fixed Rate or Spread, applicable until the Interest Revision/Conversion Date if any, or until the Maturity Date.

To make the Tranche available subject to the terms and conditions of the Finance Contract, the Bank must receive a Disbursement Acceptance in the form of a copy of this Disbursement Offer duly signed on your behalf, to the following fax number [●] no later than the Disbursement Acceptance Deadline of [time] Luxembourg time on [date].

The Disbursement Acceptance must be accompanied (if it has not been previously supplied) by:

(i) the indication of the bank account (with IBAN code in case of disbursements in EUR or the appropriate format for the relevant currency) where disbursement of the Tranche should be made; and

(ii) evidence of the authority of the person or persons authorised to sign it on behalf of the Borrower and the specimen signature of such person or persons.

If not accepted by the above stated time, the offer contained in this document shall be deemed to have been refused and shall automatically lapse.

If you do accept the Tranche as described in this Disbursement Offer, all the related terms and conditions of the Finance Contract shall apply, in particular, the provisions of Article 1.4.

Yours faithfully,

EUROPEAN INVESTMENT BANK

We hereby accept the above Disbursement Offer:

For and behalf of The Republic of Serbia Date:

Schedule D

Interest Rate Revision and Conversion

If an Interest Revision/Conversion Date has been included in the Disbursement Offer for a Tranche, the following provisions shall apply.

A. Mechanics of Interest Revision/Conversion

Upon receiving an Interest Revision/Conversion Request the Bank shall, during the period commencing 60 (sixty) days and ending 30 (thirty) days before the Interest Revision/Conversion Date, deliver to the Borrower an Interest Revision/Conversion Proposal stating:

(a) the Fixed Rate or the Spread that would apply to the Tranche, or the part thereof indicated in the Interest Revision/Conversion Request pursuant to Article 3.1; and

(b) that such rate shall apply until the Maturity Date or until a new Interest Revision/Conversion Date, if any, and that interest is payable quarterly, semi- annually or annually in arrears on designated Payment Dates.

The Borrower may accept in writing an Interest Revision/Conversion Proposal by the deadline specified therein.

Any amendment to this Contract requested by the Bank in this connection shall be effected by an agreement to be concluded not later than 15 (fifteen) days prior to the relevant Interest Revision/Conversion Date.

B. Effects of Interest Revision/Conversion

If the Borrower duly accepts in writing a Fixed Rate or a Spread in respect of an Interest Revision/Conversion Proposal, the Borrower shall pay accrued interest on the Interest Revision/Conversion Date and thereafter on the designated Payment Dates.

Prior to the Interest Revision/Conversion Date, the relevant provisions of this Contract and Disbursement Offer and Disbursement Acceptance shall apply to the entire Tranche. From and including the Interest Revision/Conversion Date onwards, the provisions contained in the Interest Revision/Conversion Proposal relating to the new interest rate or the Spread shall apply to the Tranche (or part thereof) until the new Interest Revision/Conversion Date, if any, or until the Maturity Date.

C. Non-fulfilment of Interest Revision/Conversion

If the Borrower does not submit an Interest Revision/Conversion Request or does not accept in writing the Interest Revision/Conversion Proposal for the Tranche or if the parties fail to effect an amendment requested by the Bank pursuant to Paragraph A above, the Borrower shall repay the Tranche (or part thereof) on the Interest Revision/Conversion Date, without indemnity. The Borrower will repay on the Interest Revision/Conversion Date any part of a Tranche which is unaffected by the Interest Revision/Conversion.

Schedule E

Certificates to be provided by the Borrower

E.1 Form of Certificate from Borrower (Article 1.4.B)

To: European Investment Bank From: The Republic of Serbia Date:

Subject: RAILWAY NIS-DIMITROVGRAD Finance Contract between European Investment Bank and The Republic of Serbia dated ● (the "Finance Contract")

FI number 86763 Serapis number 2016-0341

Dear Sirs,

Terms defined in the Finance Contract have the same meaning when used in this letter.

For the purposes of Article 1.4 of the Finance Contract we hereby certify to you as follows:

(a) no Prepayment Event has occurred and is continuing unremedied;

(b) there has been no material change to any aspect of the Project or in respect of which we are obliged to report under Article 8.1, save as previously communicated by us;

(c) we have sufficient funds available to ensure the timely completion and implementation of the Project in accordance with the Technical Description;

(d) no event or circumstance which constitutes or would with the passage of time or giving of notice under the Finance Contract constitute an Event of Default has occurred and is continuing unremedied or unwaived;

(e) no litigation, arbitration administrative proceedings or investigation is current or to our knowledge is threatened or pending before any court, arbitral body or agency which has resulted or if adversely determined is reasonably likely to result in a Material Adverse Change, nor is there subsisting against us or any of our subsidiaries any unsatisfied judgement or award;

(f) the representations and warranties to be made or repeated by us under Article

6.5 are true in all respects; and

(g) no Material Adverse Change has occurred, as compared with the situation at the date of the Finance Contract.

Yours faithfully,

For and on behalf of The Republic of Serbia Date:

FI N° 86763 (RS)

Serapis N° 2016-0341

ŽELEZNIČKA PRUGA NIŠ–DIMITROVGRAD

Finansijski ugovor

između Republike Srbije i

Evropske investicione banke

Beograd, 31. januar 2018. godine

OVAJ UGOVOR ZAKLjUČUJU:

Republika Srbija, koju predstavlja ministar finansija xx Xxxxx Xxxxxxx, u ime Vlade, kao zastupnika Republike Srbije	(„Zajmoprimac”)
sa jedne strane, i
Evropska investiciona banka, sa sedištem u Luksemburgu, Bulevar Xxxxxxx Xxxxxxxxx 100, L-2950, koju zastupa potpredsednik, gospodin Xxxxx Xxxxxxxxxxx,	(„Banka”)
xx xxxxx xxxxxx.

S OBZIROM NA TO DA:

(a) je Zajmoprimac naveo da, preko „Infrastruktura železnice Srbije” a.d., kompanije xxxx xx u potpunosti u vlasništvu Zajmoprimca („Krajnji korisnik”), sprovodi projekat rekonstrukcije i modernizacije postojeće jednokolosečne pruge Sićevo– Dimitrovgrad i izgradnje jednokolosečne obilaznice severno od grada Niša („Projekat”), kao što je sažeto objašnjeno u Prilogu A ovog ugovora, a detaljnije opisano u Tehničkom opisu (kao što je definisano ispod), jer se podrazumeva da je Prilog A ovog ugovora dat samo informativno, dok je Xxxxxxxx opis koji se primenjuje za ovaj Projekat dat u Prilogu A Sporazuma o sprovođenju Projekta.

(b) Krajnji korisnik (i) će biti odgovoran za realizaciju Projekta, uz svu neophodnu podršku Zajmoprimca i pod kontrolom Ministarstva građevinarstva, saobraćaja i infrastrukture („Promoter”), i (ii) sprovoditi Projekat u skladu sa uslovima sporazuma o sprovođenju projekta koji će biti zaključen između Promotera, Krajnjeg korisnika i Banke, pre prve isplate prema ovom ugovoru („Sporazum o sprovođenju Projekta”).

(v) Ukupan trošak Projekta (bez PDV-a), kako ga Banka procenjuje, iznosi 268.280.000,00 EUR (dve stotine šezdeset osam miliona dve stotine osamdeset hiljada evra), i Zajmoprimac je izjavio da namerava da finansira Projekat kako sledi:

Izvor	Iznos (EUR mln)
Kredit Banke	134.00
Republika Srbija	61.24
WBIF investiciona bespovratna sredstva	73.04
UKUPNO	268.28

Podrazumeva se da Republika Srbija doprinos Projektu iz sopstvenih sredstava (xxxx xx definisano u tekstu iznad) može smanjiti ako i u obimu u kojem se WBIF investiciona bespovratna sredstva za Komponentu 2 (definisanu niže) odobre Republici Srbiji i koriste za Projekat.

(g) Je Zajmoprimac, u cilju realizacije finansijskog plana navedenog u stavu (v) Preambule, zatražio xx Xxxxx da ukupan kredit u iznosu do 134.000.000,00 EUR (sto trideset četiri miliona evra) („Odobreni kredit”) bude stavljen na raspolaganje u skladu sa pretpristupnim mandatom za period 2014-2020. xxxxxx, po osnovu Odluke 466/2014/EU Evropskog parlamenta i Saveta Evropske unije („Mandat”).

(d) Xx Xxxxx, imajući u vidu da finansiranje Projekta potpada pod delokrug njenih funkcija i da je u skladu sa ciljevima Mandata, uzimajući u obzir izjave i činjenice navedene u ovoj preambuli, donela odluku da odobri zahtev Zajmoprimca dajući mu Odobreni kredit u iznosu od 134.000.000,00 EUR (jedna stotina trideset četiri miliona evra) po osnovu ovog ugovora o finansiranju („Ugovor”); pod uslovom da iznos zajma Banke ni u kom slučaju ne sme premašiti (i) 50% (pedeset procenata) ukupnog xxxxxx Projekta, navedenog u stavu (v) Preambule, niti (ii) zbirno sa svim bespovratnim sredstvima EU raspoloživim za Projekat, 90% (devedeset procenata) ukupnog xxxxxx Projekta navedenog u stavu (v) Preambule.

(đ) Zajmoprimac će staviti na raspolaganje Krajnjem korisniku sredstva Kredita isključivo za svrhu finansiranja i realizacije Projekta.

(e) Zajmoprimac direktno poseduje 100% (sto procenata) akcionarskog kapitala Krajnjeg korisnika.

(ž) U skladu sa Odlukom br. 466/2014/EU, objavljenom u „Službenom glasniku EU”, broj L 135 od 8.5.2014. godine („Odluka”), Evropski parlament i Savet Evropske unije su odlučili da Banci odobre garanciju za pokriće gubitaka po osnovu finansijskih operacija kojima se pruža podrška investicionim projektima van Evropske unije i sporazumom, zaključenim između Evropske unije koju predstavlja Evropska komisija i Banke, o sprovođenju te odluke, u slučaju neplaćanja, Evropska unija, garancijom, pokriva plaćanja koja Banka nije primila, dospela po osnovu obaveza prema Banci iz finansijskih operacija koje xx Xxxxx zaključila, između ostalog, sa Zajmoprimcem („Garancija EU”). Republika Srbija je na datum ovog ugovora Država koja ispunjava kriterijume, xxxx xx definisano niže.

(z) Su Republika Srbija i Banka 11. maja 2009. godine zaključile Okvirni sporazum koji reguliše aktivnosti Banke u Republici Srbiji („Okvirni sporazum”). Dopisom od 14. decembra 2015. godine, Republika Srbija je zatražila finansiranje Projekta, i ovaj projekat kao takav potpada pod delokrug Okvirnog sporazuma.

(i) Statut Banke predviđa da xx Xxxxx obezbediti da se njena sredstva koriste što racionalnije i u interesu Evropske unije i, u skladu s xxx, termini i uslovi zajmovnih operacija Banke moraju biti usklađeni sa odgovarajućim politikama Evropske unije.

(j) Banka smatra da pristup informacijama igra suštinsku ulogu u smanjenju ekoloških i socijalnih rizika, uključujući i kršenja ljudskih prava, vezano za projekte koje ona finansira i xxxxx xx utvrdila svoju politiku transparentnosti, xxxx xx svrha da unapredi odgovornost grupacije Banke prema svojim akcionarima.

(k) Obradu ličnih informacija vrši Banka u skladu sa primenljivim zakonodavstvom Evropske unije o zaštiti pojedinaca u pogledu obrade ličnih podataka xx xxxxxx institucija i tela Evropske unije i o slobodnom protoku takvih podataka.

I S XXX U VEZI je dogovoreno sledeće:

TUMAČENjE I DEFINICIJE

Tumačenje

U ovom ugovoru, pozivanja na:

(a) članove, Preambulu i priloge su, ukoliko nije izričito drugačije navedeno, upućivanja na članove i preambulu i priloge ovog ugovora;

(b) odredbu zakona su upućivanja na tu odredbu i onako xxxx xx izmenjena i dopunjena ili ponovno xxxxxx, ukoliko je do toga došlo; i

(v) bilo koji drugi sporazum ili instrument su upućivanja na taj drugi sporazum ili instrument onako xxxx xx izmenjen, noviran, dopunjen, proširen ili ponovljen.

Definicije

U ovom ugovoru:

„Rok za prihvatanje” za obaveštenje znači:

(a) 16:00 časova po luksemburškom vremenu na xxx dostave, ako je obaveštenje isporučeno do 14:00 časova po luksemburškom vremenu na Radni xxx; ili

(b) 11:00 po luksemburškom vremenu narednog Radnog xxxx, ako je obaveštenje isporučeno posle 14:00 časova po luksemburškom vremenu na bilo koji takav xxx, ili je dostavljeno na xxx koji nije Radni xxx.

„Prihvaćena tranša” označava tranšu za xxxx xx Zajmoprimac blagovremeno prihvatio Ponudu za isplatu u skladu sa njenim uslovima na ili pre Roka za prihvatanje isplate.

„Odobrenje” znači odobrenje, dozvola, saglasnost, pristanak, odluka, licenca, izuzeće, podnesak, notarizacija ili registracija.

„Radni xxx” znači xxx (koji nije subota ili nedelja) na koji su Banka i poslovne banke otvorene za redovno poslovanje u Luksemburgu i Beogradu.

„Slučaj izmene zakona” ima značenje navedeno u članu 4.3.A(3).

„Komponente” znači sveukupno (i) Komponenta 1 (ii) Komponenta 2, (iii) Komponenta 3 (iv) Komponenta 4 (svaka pojedinačno „Komponenta”).

„Komponenta 1” znači deonica Sićevo – Dimitrovgrad, rekonstrukcija i modernizacija, građevinski radovi i kolosek, pripremni radovi za elektrifikaciju i signalizaciju.

„Komponenta 2” znači severna obilaznica oko grada Niša, jednokolosečna elektrifikovana pruga.

„Komponenta 3” znači deonice Crveni Krst – veza sa obilaznicom i Sićevo – Dimitrovgrad, elektrifikacija i signalizacija;

„Komponenta 4” znači usluge projektovanja, nadzor xxxxx xxxxxx nad izvođenjem radova i podrška u realizaciji uz pripremu budućih projekata.

„Ugovor” ima značenje navedeno u stavu (d) Preambule.

„Kredit” ima značenje navedeno u članu 1.1.

„Obeštećenje za odlaganje” znači obeštećenje obračunato na iznos odložene ili obustavljene isplate po procentualnoj stopi (ako xx xxxx xx xxxx) kojom:

(a) kamatna xxxxx, koja bi bila primenjiva na takav iznos da je isplaćen Zajmoprimcu na Zakazani datum isplate, prevazilazi

(b) EURIBOR (jednomesečna xxxxx) umanjena za 0,125% (12,5 baznih poena), osim ako je ova vrednost manja od nule, u xxx slučaju ona iznosi nula.

Takvo obeštećenje će se obračunavati od Zakazanog datuma isplate do Datuma isplate ili, kao što može biti slučaj, do datuma otkazivanja Prihvaćene tranše u skladu sa ovim ugovorom.

„Prihvatanje isplate” označava primerak Ponude za isplatu uredno supotpisan xx xxxxxx Zajmoprimca.

„Rok za prihvatanje isplate” označava datum i rok kada ističe Xxxxxx za isplatu, onako xxxx xx ponudom definisano.

„Datum isplate” označava datum kada xx Xxxxx izvršila samu isplatu Tranše.

„Ponuda za isplatu” označava pismo koje je suštinski u formi propisanoj Prilogom V.

„Slučaj poremećaja” ima jedno od sledeća dva značenja ili oba:

(a) materijalni poremećaj onih sistema za plaćanje ili komunikacionih sistema ili onih finansijskih tržišta od kojih se, u svakom slučaju, traži da funkcionišu kako bi plaćanja u vezi sa ovim ugovorom bila izvršena; ili

(b) nastupanje bilo kog drugog događaja koje ima za rezultat poremećaj (tehničke ili sistemske prirode) u trezoru ili operacijama plaćanja bilo Banke ili Zajmoprimca, koji sprečava tu stranu da:

(i) izvrši obaveze plaćanja prema ovom ugovoru; ili

(ii) komunicira sa drugim stranama,

i kada poremećaj (bilo u slučaju pod (a) ili (b) xxxx navedenim) nije izazvan i mimo je kontrole strane čije su operacije poremećene.

„Država koja ispunjava kriterijume” znači bilo koju državu navedenu u Aneksu III Odluke, što se može povremeno izmeniti i dopuniti xx xxxxxx Evropske komisije u skladu sa čl. 4(2) i 18. Odluke, ili bilo koju drugu državu u pogledu koje su Evropski parlament i Savet EU usvojili odluku prema članu 4 (1) Odluke.

„Garancija EU” ima značenje definisano u stavu (ž) Preambule.

„EURIBOR” ima značenje koje mu xx xxxx u Prilogu B.

„EUR” ili „evro” ima značenje zakonite valute država članica Evropske unije koju usvajaju ili su usvojile kao njihovu valutu, u skladu sa odgovarajućim odredbama Ugovora o Evropskoj uniji i Xxxxxxx o funkcionisanju Evropske unije, ili njihovim budućim ugovorima.

„Evropska komisija” znači komisiju Evropske Unije.

„Slučaj neispunjenja obaveza” znači bilo koju od okolnosti, događaja ili dešavanja navedenih u članu 10.1.

„Krajnji datum raspoloživosti” označava datum koji pada na 60 (šezdeset) meseci od datuma potpisivanja ovog ugovora, ili kasniji datum ukoliko bude odobren xx xxxxxx Xxxxx u pisanoj formi, nakon formalnog zahteva u pisanoj formi xx xxxxxx Zajmoprimca, a koji ni u kom slučaju ne može da padne na datum koji je kasniji od pet xxxxxx xx završetka Mandata.

„Finansiranje terorizma” označava obezbeđivanje ili prikupljanje finansijskih sredstava, direktno ili indirektno, sa namerom da se koriste ili sa saznanjem da će se koristiti, u potpunosti ili delimično, u cilju vršenja prekršaja u smislu članova 1 do 4 Okvirne odluke Saveta EU 2002/475/XXX xx 13. xxxx 2002. godine o borbi protiv terorizma.

„Fiksna xxxxx” označava godišnju kamatnu stopu koju utvrdi Banka u skladu sa važećim principima povremeno propisanim xx xxxxxx upravnih xxxx Xxxxx, za zajmove date po fiksnoj kamatnoj stopi, izražene u valuti Tranše i koji nose jednake uslove za otplatu glavnice i plaćanje xxxxxx.

„Tranša sa fiksnom stopom” označava Tranšu na koju se primenjuje Fiksna xxxxx.

„Varijabilna xxxxx” označava varijabilnu kamatnu stopu sa fiksnim rasponom, odnosno godišnju kamatnu stopu određenu xx xxxxxx Xxxxx za svaki naredni Referentni period za varijabilnu stopu, jednaku EURIBOR-u plus Raspon.

„Referentni period za varijabilnu stopu” označava svaki period od jednog Datuma plaćanja do sledećeg odgovarajućeg Datuma plaćanja; prvi Referentni period za varijabilnu stopu će započeti na datum isplate Tranše.

„Tranša sa varijabilnom stopom” označava Tranšu na koju se primenjuje Varijabilna xxxxx.

„Okvirni sporazum” ima značenje definisano u Preambuli (z).

„Slučaj prevremenog plaćanja sa naknadom” označava slučaj prevremene otplate kredita drugačiji od onih navedenih u st. 4.3.A(2) ili 4.3.A(4).

„Revizija/konverzija xxxxxx” označava utvrđivanje novih finansisjkih uslova u vezi sa kamatnom stopom, posebno reviziju osnovice iste kamatne stope („revizija”) ili promenu kamatne stope („konverzija”) koja se može ponuditi za preostali period Tranše ili do narednog Datuma revizije/konverzije xxxxxx, ukoliko postoji, za iznos

koji na predloženi Datum revizije/konverzije xxxxxx nije manji od 10.000.000,00 EUR (deset miliona evra) ili njemu ekvivalentnog iznosa.

„Datum revizije/konverzije xxxxxx” označava datum koji predstavlja Datum plaćanja a xxxx Xxxxx navede u skladu sa članom 1.2.B u Ponudi za isplatu ili u skladu sa članom 3. i Prilogom G.

„Predlog za reviziju/konverziju xxxxxx” označava predlog Banke u skladu sa Prilogom G.

„Zahtev za reviziju/konverziju xxxxxx” označava xxxxxx obaveštenje xx xxxxxx Zajmoprimca dostavljeno najmanje 75 (sedamdeset pet) xxxx pre Datuma revizije/konverzije xxxxxx kojim se xx Xxxxx zahteva da dostavi Predlog za reviziju/konverziju xxxxxx. U Zahtevu za reviziju/konverziju xxxxxx takođe će biti navedeno:

(a) Datumi plaćanja izabrani u skladu sa odredbama člana 3.1;

(b) željena dinamika otplate izabrana u skladu sa članom 4.1; i

(v) svi dodatni Datumi revizije/konverzije xxxxxx izabrani u skladu sa članom 3.1.

„Zajam” označava ukupan iznos Tranši koje Banka s vremena na vreme isplaćuje prema ovom ugovoru.

„Mandat” ima značenje definisano u Preambuli (g).

„Slučaj poremećaja na tržištu” označava bilo koju od sledećih okolnosti:

(a) postoje, po razumnom uverenju Banke, događaji ili okolnosti koji negativno utiču na pristup Banke njenim izvorima finansiranja;

(b) po uverenju Banke, sredstva iz njihovih uobičajenih izvora finansiranja nisu na raspolaganju da bi se na odgovarajući način finansirala Tranša u odgovarajućoj valuti i/ili za odgovarajuće dospeće i/ili u odnosu na profil otplate takve Tranše; ili

(v) u vezi sa Tranšom na koju kamata jeste ili će biti plativa po Varijabilnoj stopi:

(i) trošak za Banku za pribavljanje sredstava iz njenih izvora finansiranja, xxxx xx određen xx xxxxxx Xxxxx, za period jednak Referentnom periodu za varijabilnu stopu takve Tranše (odnosno, na tržištu novca) će prevazići Relevantnu međubankarsku stopu; ili

(ii) Banka određuje da ne postoje odgovarajuća i fer sredstva za određivanje Relevantne međubankarske stope za odgovarajuću valutu takve Tranše ili nije moguće odrediti Relevantnu međubankarsku stopu u skladu sa definicijom sadržanom u Prilogu B.

„Materijalno štetna promena” označava, bilo koji događaj ili promenu stanja, koja, po razumnom uverenju Banke, ima neko materijalno štetno dejstvo na:

(a) sposobnost Zajmoprimca da izvršava svoje obaveze prema ovom ugovoru;

(b) poslovanje, aktivnosti, imovinu, stanje (finansijsko ili drugo) ili izglede Zajmoprimca; ili

(v) zakonitost, važenje ili sprovodivost, ili punovažnost ili rangiranje, ili vrednost bilo kog obezbeđenja datog Banci, ili prava ili pravnih xxxxxx Xxxxx prema ovom ugovoru.

„Datum dospeća” znači poslednji datum otplate Tranše navedene saglasno članu 4.1.A(b)(iv).

„Pranje novca” označava:

(a) konverziju ili prenos imovine, znajući da ista proizilazi iz kriminalnih radnji ili iz čina učestvovanja u istim radi sakrivanja ili prikrivanja nezakonitog porekla imovine ili pružanja pomoći licu koje učestvuje u vršenju takve radnje da izbegne zakonske posledice svog postupka;

(b) sakrivanje ili prikrivanje prave prirode, izvora, lokacije, pozicije, kretanja, prava u pogledu, ili vlasništva nad imovinom znajući da data imovina proizilazi iz kriminalne radnje ili iz čina učešća u istoj;

(v) pribavljanje, posedovanje ili korišćenje imovine, znajući, u trenutku primanja, da je takva imovina proizašla iz kriminalne radnje ili iz čina učešća u istoj; ili

(g) učestvovanje u, udruživanje radi počinjavanja, pokušaji da se počini i pomaganje, podsticanje, olakšavanje i zagovaranje počinjavanja bilo kog od činova iz xxxx navedenih tačaka.

„Datum plaćanja” označava: godišnje, polugodišnje ili kvartalne datume navedene u Ponudi za isplatu do Datuma revizije/konverzije xxxxxx, ukoliko postoji, ili Datuma dospeća, osim u slučaju da bilo koji takav datum nije neki Odgovarajući radni xxx, to znači:

(a) za Tranšu sa fiksnom stopom, sledeći Odgovarajući radni xxx, bez prilagođavanja xxxxxx dospele prema članu 3.1; i

(b) Tranšu sa varijabilnom stopom, sledeći xxx, ako postoji, tog kalendarskog meseca koji je Odgovarajući radni xxx ili, u nedostatku toga, najbliži prethodni xxx koji je Odgovarajući radni xxx, u svim slučajevima sa odgovarajućim prilagođavanjem xxxxxx dospele prema članu 3.1.

„Iznos prevremene otplate” označava iznos Tranše xxxx xxxxx ranije da se otplati xx xxxxxx Zajmoprimca u skladu sa članom 4.2.A.

„Datum prevremene otplate” označava datum, koji će biti Datum plaćanja, na koji Zajmoprimac predlaže da izvrši prevremeno plaćanje Iznosa prevremene otplate.

„Slučaj prevremene otplate” označava bilo koji od događaja opisanih u članu 4.3.A.

„Obeštećenje za prevremenu otplatu” označava u odnosu na bilo koji iznos glavnice koji se prevremeno otplaćuje ili otkazuje, iznos saopšten xx xxxxxx Xxxxx Zajmoprimcu kao sadašnja vrednost (na Datum prevremene otplate) viška, ako postoji, za:

(a) xxxxxx xxxx bi se pripisala posle toga na Iznos prevremene otplate kredita tokom perioda od Datuma ranije otplate kredita do Datuma revizije/konverzije xxxxxx, ukoliko postoji, ili Datuma dospeća, da on nije ranije otplaćen; preko

(b) kamate koja bi se pripisala tokom tog perioda, da je obračunata po Stopi za prebacivanje, umanjenoj za 0,15% (petnaest baznih poena).

Navedena sadašnja vrednost će biti obračunata po diskontnoj stopi jednakoj Stopi za prebacivanje, primenjenoj na svaki odgovarajući Datum plaćanja.

„Obaveštenje o prevremenoj otplati” označava xxxxxx obaveštenje xx xxxxxx Xxxxx Zajmoprimcu u skladu sa članom 4.2.V.

„Zahtev za prevremenu otplatu” označava xxxxxx zahtev xx xxxxxx Zajmoprimca Banci za prevremenu otplatu celog ili dela Zajma, u skladu sa članom 4.2.A.

„Nedozvoljeno ponašanje” označava svako finansiranje terorizma, pranje novca ili nedozvoljene radnje.

„Nedozvoljene radnje” znače svaku od sledećih radnji:

(a) prisila u smislu pogoršavanja ili nanošenje štete, ili pretnje da će se pogoršati ili naneti šteta, direktno ili indirektno, bilo kojoj strani ili imovini bilo koje xxxxxx, xx ciljem nepravilnog vršenja uticaja na postupke druge strane;

(b) udruživanje u smislu sporazuma između dve ili više strana, koji je osmišljen tako da postigne neispravan cilj, uključujući nepravilno vršenje uticaja na postupke druge strane;

(v) korupcija u smislu davanja, primanja ili traženja, direktno ili indirektno, bilo koje vrednosti, sa ciljem nepravilnog vršenja uticaja na postupke druge strane;

(g) prevara u smislu bilo kog postupka ili propusta, uključujući pogrešno predstavljanje, koje namerno ili nepažnjom dovodi u zabludu, ili pokušava da dovede u zabludu, stranu zarad dobijanja finansijske ili druge koristi ili izbegavanja obaveze; ili

(d) opstrukcija u vezi sa istragom prisile, udruživanja, korupcije ili prevare u vezi sa ovim zajmom u smislu (i) namernog uništavanja falsifikovanja, menjanja ili skrivanja dokaznog materijala za istragu; i/ili pretnje, uznemiravanja ili zastrašivanja bilo koje strane, kako bi ih sprečili u otkrivanju saznanja o stvarima koje su bitne za istragu ili za nastavak istrage, ili (ii) postupaka koji za cilj imaju ometanje sprovođenja ugovornih prava revizije ili pristupa informacijama.

„Projekat” ima značenje koje mu xx xxxx u Preambuli (a).

„Promoter” ima značenje koje mu xx xxxx u Preambuli (b).

„Xxxxx za prebacivanje” označava Fiksnu stopu na snazi na xxx obračuna obeštećenja za zajmove po fiksnoj stopi izražene u istoj valuti i koji će imati iste uslove plaćanja xxxxxx i isti profil otplate na Datum revizije/konverzije xxxxxx, ukoliko postoji, ili Datum dospeća, kao i Tranša za xxxx xx predložena ili zahtevana prevremena otplata. Za one slučajeve gde je taj period kraći od 48 (četrdeset osam) meseci (ili 36 (trideset šest) meseci u odsustvu otplate glavnice tokom tog perioda) primenjivaće se najpribližnija odgovarajuća tržišna xxxxx, i to EURIBOR minus 0,125% (12,5 baznih poena) za periode do 12 (dvanaest) meseci. Za periode u trajanju između 12 (dvanaest) i 36/48 meseci, primenjivaće se ponude za svop stope koje bude objavio Reuters za određene valute, a koje Banka bude primenjivala u vreme obračuna.

„Odgovarajući radni xxx” znači xxx na koji je Trans-European Automated Real- time Gross Settlement Express Transfer payment system, koji koristi jedinstvenu zajedničku platformu i koji je pokrenut 19. novembra 2007. godine (TARGET2), otvoren za izmirenje plaćanja u evrima.

„Relevantna međubankarska xxxxx” znači EURIBOR.

„Lista sankcija” označava:

(a) sve ekonomske, finansijske i trgovinske restriktivne mere i embargo na oružje izrečene xx xxxxxx Evropske unije u skladu sa Poglavljem 2 Odeljka V Ugovora o Evropskoj uniji kao i člana 215. Ugovora o funkcionisanju Evropske unije, uključujući ali ne ograničavajući se na ekonomske, finansijske i trgovinske restriktivne mere i embargo na oružje dostupne na zvaničnim sajtovima EU xxxx://xx.xxxxxx.xx/xxxxxxxx_xxxxxxxxx/xxxx/xxxxxxxxx/xxxxxx-xxxx_xx.xxx i xxxx://xxxx.xxxxxx.xx/xxxx/xxxxxxxxx/xxxx/xxxxxxxx_xx.xxx, kako povremeno mogu biti izmenjene i dopunjene ili izdate na novijim stranicama; ili

(b) sve ekonomske, finansijske i trgovinske restriktivne mere i embargo na oružje izrečene od xxxxxx Xxxxxx bezbednosti Ujedinjenih nacija u skladu sa članom

41. Povelje UN, uključujući ali ne ograničavajući se na ekonomske, finansijske i trgovinske restriktivne mere i embargo na oružje dostupne na zvaničnom sajtu

UN xxxx://xxx.xx.xxx/Xxxx/xx/xxxxxxxxxx/XXXXX.xxx, kako povremeno mogu biti izmenjene i dopunjene ili izdate na novijim stranicama.

„Sankcionisana lica” označava pojedinca ili subjekat koji je naveden u jednoj ili više Lista sankcija.

„Zakazani datum isplate” znači datum na koji je Xxxxxx zakazana za isplatu u skladu sa članom 1.2.B.

„Obezbeđenje” znači bilo koju hipoteku, zalog, založno pravo, opterećenje, prenos imovine, stavljanje pod hipoteku, ili drugo sredstvo obezbeđenja kojim se obezbeđuje bilo koja obaveza bilo kog lica, ili bilo koji drugi sporazum ili aranžman koji ima slično dejstvo.

„Raspon” znači fiksni raspon za EURIBOR (bilo da je plus ili minus) određen xx xxxxxx Xxxxx i o čemu je Zajmoprimac obavešten u odgovarajućoj Ponudi za isplatu ili Predlogu za reviziju/konverziju xxxxxx.

„Porez” znači bilo koji porez, namet, dažbinu, carinu ili drugu naknadu ili zadržavanje slične prirode (uključujući bilo koji penal ili xxxxxx xxxx se plaća u vezi xx xxxx kakvim neplaćanjem, ili odlaganjem u plaćanju istih).

„Tehnički opis” znači tehnički opis koji je dat u Prilogu A Sporazuma o sprovođenju Projekta.

„Tranša” znači svaku isplatu xxxx xx izvršena ili treba da se izvrši prema ovom ugovoru. U slučaju da nijedno Prihvatanje isplate nije dostavljeno, Tranša označava Tranšu xxxx xx ponuđena prema članu 1.2.B.

Član 1.

Kredit i isplata

1.1 Iznos kredita

Ovim ugovorom Banka daje u korist Zajmoprimca i Zajmoprimac prihvata, kredit u iznosu od 134.000.000 EUR (jedna stotina trideset četiri miliona evra) za finansiranje Projekta (u daljem tekstu: „Kredit”).

1.2 Postupak isplate

1.2.A Tranše

Banka isplaćuje Kredit u 10 (deset) Tranši Osim prve Tranše, iznos svake Tranše, pod uslovom da to nije nepovučeni ostatak Kredita, xxxx u minimalnom iznosu od 10.000.000 EUR (deset miliona evra). Iznos prve Tranše je minimum 5.000.000 EUR (pet miliona evra).

1.2.B Ponuda za isplatu

Na zahtev Zajmoprimca (koji, između ostalog, definiše Komponentu(e) koje xxxxx xx xxxx finansirane uz predloženu isplatu), pod uslovom da se nijedan događaj naveden u članu 1.6.B ne desi i ne traje, Banka šalje Zajmoprimcu Ponudu za isplatu tranše. Najkasniji datum da Zajmoprimac primi Ponudu za isplatu je 10 (deset) xxxx pre Krajnjeg datuma raspoloživosti kredita. Ponuda za isplatu definiše sledeće:

(a) valutu i iznos Tranše;

(b) Zakazani datum isplate, xxxx xxxxx da bude odgovarajući radni xxx i koji je najmanje 10 (deset) kalendarskih xxxx kasniji od datuma Ponude za isplatu i na xxx ili pre Krajnjeg datuma raspoloživosti kredita;

(v) osnovu kamatne stope za Tranšu, koja može biti: (i) Tranša sa fiksnom stopom ili (ii) Tranša sa varijabilnom stopom, obe u skladu sa relevantnim odredbama člana 3.1;

(g) period plaćanja xxxxxx za Tranšu, u skladu sa odredbama člana 3.1;

(d) datum prvog plaćanja Tranše;

(đ) uslove otplate glavnice za Tranšu, u skladu sa odredbama člana 4.1;

(e) datume prve i poslednje otplate glavnice za Tranšu;

(ž) Datum revizije/konverzije xxxxxx, ukoliko to zahteva Zajmoprimac, za Tranšu;

(z) u slučaju Tranše sa fiksnom stopom fiksnu kamatnu stopu i u slučaju Tranše sa varijabilnom stopom Raspon, primenljiv do Datuma revizije/konverzije xxxxxx (ukoliko je ima) ili do Datuma dospeća; i

(i) Rok za prihvatanje isplate.

1.2.V Prihvatanje isplate

Zajmoprimac može da prihvati Ponudu za isplatu tako što xx Xxxxx dostaviti Obaveštenje o prihvatanju isplate ne kasnije xx Xxxx za prihvatanje isplate. Obaveštenje o prihvatanju isplate treba da sadrži:

(a) IBAN šifru (ili odgovarajući format u skladu sa lokalnom bankarskom praksom) i SWIFT BIC bankovnog računa u skladu sa kojim se vrši isplata Tranše prema članu 1.2.G; i

(b) dokaz ovlašćenja osobe ili lica ovlašćenih da potpisuju Obaveštenje o prihvatanju ponude i karton deponovanih potpisa svakog lica ili izjava Zajmoprimca da nije došlo do promene u pogledu ovlašćenja osobe ili lica ovlašćenih da potpisuju Obaveštenje o prihvatanju ponude po ovom ugovoru.

Ukoliko Ponudu za isplatu Zajmoprimac propisno prihvati u skladu sa njenim uslovima i odredbama ili na xxx ili pre Roka za prihvatanje isplate, Xxxxx xx Prihvaćenu tranšu učiniti raspoloživom Zajmoprimcu u skladu sa relevantnom Ponudom za isplatu i podložno odredbama i uslovima ovog ugovora.

Smatra se da je Zajmoprimac odbio Ponudu za isplatu koja nije propisno prihvaćena u skladu sa njenim uslovima na xxx ili pre Roka za prihvatanje isplate.

1.2.G Račun za isplatu

Isplata se vrši na onaj bankovni račun o kojem Zajmoprimac pisanim putem obaveštava Banku najkasnije 10 (deset) xxxx pre Zakazanog datuma isplate (uz IBAN šifru ili odgovarajući format u skladu sa lokalnom bankarskom praksom).

Samo jedan račun može biti naveden za svaku Tranšu.

1.3 Valuta isplate

Banka isplaćuje svaku tranšu u EUR.

1.4 Uslovi isplate

1.4.A Prva tranša

(a) Isplata prve tranše prema članu 1.2 je uslovljena prijemom xx xxxxxx Xxxxx, u obliku i sadržaju za nju zadovoljavajućim na xxx ili pre

datuma koji pada 5 (pet) radnih xxxx pre datuma predviđenog za isplatu, sledeće dokumentacije ili dokaza:

(i) dokaz da postoji propisno ovlašćenje za potpis i overu ovog ugovora xx xxxxxx Zajmoprimca i da lice ili osobe koje potpisuju ovaj ugovor u ime Zajmoprimca je/su propisno ovlašćen/e da to učine, zajedno sa kartonom deponovanih potpisa svakog lica;

(ii) dokaz da je Zajmoprimac dobio sva neophodna ovlašćenja, zahtevana u vezi sa ovim ugovorom;

(iii) povoljno pravno mišljenje, izdato na engleskom jeziku, Ministra pravde Zajmoprimca kojim se potvrđuje, između ostalog, (i) ovlašćenje xxxx xxxx potpisuju ovaj ugovor u ime Zajmoprimca; i

(ii) da je Ugovor propisno potpisan i overen xx xxxxxx Zajmoprimca i da predstavlja zakonitu, važeću i obavezujuću obavezu Zajmoprimca u skladu sa uslovima istog, (iii) validni izbor zakona Velikog Vojvodstva Luksemburg i Suda pravde Evropske unije po ovom ugovoru, i (iv) priznavanje i pravosnažnost presuda Suda pravde Evropske unije u bilo kom postupku koji se sprovodi u Republici Srbiji u vezi sa ovim ugovorom;

(iv) propisno zaključen Sporazum o sprovođenju Projekta;

(v) dokaz da je zaključivanje Sporazuma o sprovođenju Projekta propisno odobreno i da su potpisnici Sporazuma o sprovođenju Projekta, u ime Promotera i Krajnjeg korisnika, propisno ovlašćeni da to učine sa uzorkom potpisa od svakog potpisnika;

(vi) dokaz da su dobijene sve saglasnosti u pogledu devizne kontrole koje je definisala banka ili su navedene u pravnom mišljenju izdatog po stavu (iii) iznad, kao neophodne kako bi se Zajmoprimcu dozvolio prijem isplata xxxx xx predviđeno ovim ugovorom, kao i otplata Xxxxx i plaćanje xxxxxx i svih ostalih iznosa koji dospevaju po ovom ugovoru; i

(vii) da je Xxxxxxxxxxx preduzeo sve aktivnosti neophodne za izuzimanje od oporezivanja za sva plaćanja glavnice, xxxxxx i ostalih iznosa koji dospevaju na plaćanje po ovom ugovoru, kao i da se dozvoli isplata svih iznosa bruto bez odbitka poreza na izvoru;

(b) Isplata prve Tranše u skladu sa članom 1.2 uslovljena je obezbeđivanjem i ispunjavanjem, na način prihvatljiv za Banku, uslova definisanih članom 3 (b) Sporazuma o sprovođenju Projekta na xxx ili pre datuma koji pada 5 (pet) Radnih xxxx pre Zakazanog datuma isplate.

1.4.B Sve tranše

Isplata svake Tranše u skladu sa članom 1.2, uključujući i prvu, zavisi od ispunjenja sledećih uslova:

(a) da su, na način prihvatljiv za Banku, na xxx ili pre datuma koji pada 5 (pet) Radnih xxxx pre Zakazanog datuma isplate za predloženu Tranšu, obezbeđeni i ispunjeni uslovi definisani članom 3 (c) Sporazuma o sprovođenju Projekta;

(b) da xx Xxxxx primila u obliku i sadržaju za nju zadovoljavajućim na xxx ili pre datuma koji pada 5 (pet) radnih xxxx pre Zakazanog datuma isplate predložene tranše, sledeću dokumentaciju ili dokaze:

(i) potvrdu Zajmoprimca u formi Priloga D potpisanu xx xxxxxx ovlašćenog predstavnika Zajmoprimca koja nosi datum ne raniji od 20 (dvadeset) xxxx pre Zakazanog datuma isplate;

(ii) primerak svakog drugog ovlašćenja ili drugog dokumenta, mišljenja ili tvrdnje za koji xx Xxxxx obavestila Zajmoprimca da je neophodan ili poželjan u vezi sa zaključenjem i realizacijom i aktivnostima predviđenim ovim ugovorom i Sporazumom o sprovođenju Projekta ili važenjem i sprovodivošću istih.

(v) da na datum isplate za predloženu Tranšu:

(i) tvrdnje i garancije koje se ponavljaju u skladu sa članom 6.5 su ispravne u svakom pogledu; i

(ii) nisu nastupili niti jedan događaj ili okolnost koji predstavljaju ili bi protokom vremena ili davanjem obaveštenja po ovom ugovoru predstavljali:

(1) Slučaj neispunjenja obaveze; ili

(2) Slučaj prevremene otplate,

i da se ne nastavljaju neotklonjeni ili bez odricanja ili bi proistekli iz isplate predložene Tranše.

(g) da je za Banku zadovoljavajući Zakazani datum isplate za predloženu Xxxxxx, tako da je:

(i) Garancija EU važeća, obavezujuća i pravosnažna i da nisu nastupili događaji ili okolnosti koji bi po mišljenju Banke mogli štetno da utiču na pravnu, važeću, obavezujuću i pravosnažnu prirodu Garancije EU ili pravo Banke da zahteva niže navedeno;

(ii) Republika Srbija nastavila da bude Država koja ispunjava kriterijume; i

(iii) Okvirni sporazum važeći, obavezujući i pravosnažan i da nisu nastupili događaji ili okolnosti koji bi po mišljenju Banke mogli štetno da utiču na pravnu, važeću, obavezujuću i pravosnažnu prirodu Okvirnog sporazuma.

1.5 Odlaganje isplate

1.5.A Osnov za odlaganje

Po prijemu pisanog zahteva Zajmoprimca, Xxxxx xx odložiti isplatu bilo koje Prihvaćene tranše u celosti ili delimično do datuma koji navede Zajmoprimac, a da datum ne pada kasnije od 6 (šest) meseci od Zakazanog datuma isplate i ne kasnije od 60 (šezdeset) xxxx pre prvog datuma otplate Tranše navedenog u Ponudi za isplatu. U xxx slučaju, Zajmoprimac plaća Obeštećenje za odlaganje obračunato na iznos odložene isplate.

Bilo koji zahtev za odlaganje će imati dejstvo u odnosu na Tranšu samo ako je podnet najmanje 5 (pet) radnih xxxx pre Zakazanog datuma isplate.

Ako za Prihvaćenu tranšu bilo koji od uslova iz člana 1.4 nije ispunjen na navedeni datum i na Zakazani datum isplate (ili datum koji se očekuje za isplatu u slučaju prethodnog odlaganja), isplata će biti odložena za datum

dogovoren između Banke i Zajmoprimca koji pada najmanje 5 (pet) radnih xxxx xxxxx ispunjenja svih uslova isplate (ne dovodeći u pitanje pravo Banke da obustavi i/ili otkaže neisplaćeni deo Kredita u celosti ili delimično, saglasno članu 1.6.B). U xxx slučaju, Zajmoprimac plaća Obeštećenje za odlaganje obračunato na iznos odložene isplate.

1.5.B Otkazivanje isplate odložene za 6 (šest) meseci

Banka može, pisanim obaveštenjem Zajmoprimcu otkazati isplatu xxxx xx odložena prema članu 1.5.A za više od 6 (šest) meseci ukupno. Xxxxxxxx iznos će ostati raspoloživ za isplatu prema članu 1.2.

1.6 Otkazivanje i obustava

1.6.A Pravo Zajmoprimca na otkazivanje

Zajmoprimac može u bilo kom trenutku, obaveštenjem koje šalje Banci, da otkaže neisplaćeni deo kredita u celini ili delimično, i sa trenutnim dejstvom. Međutim, ovo obaveštenje se ne može primeniti na Prihvaćenu tranšu koja ima Zakazani datum isplate u roku od 5 (pet) radnih xxxx xxxxx datuma ovog obaveštenja.

1.6.B Pravo Banke na obustavu i otkazivanje

(a) Obaveštenjem Zajmoprimcu u pisanoj formi, Banka može u celosti ili delimično u bilo kom trenutku i sa trenutnim dejstvom da obustavi i/ili otkaže neisplaćeni deo kredita ukoliko se dogode sledeći slučajevi:

(i) po nastupanju slučaja prevremene otplate ili slučaja neispunjenja obaveza ili nekog događaja ili okolnosti koji bi protokom vremena ili davanjem obaveštenja prema ovom ugovoru predstavljala slučaj prevremene otplate ili slučaj neispunjenja obaveza; ili

(ii) Ukoliko Republika Srbija više nije Država koja ispunjava kriterijume po Mandatu.

(b) Banka može takođe obustaviti deo kredita za koji nije primila Obaveštenje o prihvatanju isplate sa trenutnim dejstvom u slučaju nastupanja poremećaja na tržištu.

(v) Bilo koja obustava se nastavlja xxx Xxxxx ne završi obustavu ili otkazivanje obustavljenog iznosa.

1.6.V Obeštećenje za obustavu i otkazivanje Tranše

1.6.V(1) OBUSTAVA

Ako Banka obustavi Prihvaćenu tranšu, bilo da je to nakon slučaja prevremene otplate koji se može obeštetiti ili u Slučaju neispunjenja obaveze, Zajmoprimac plaća Banci Obeštećenje za odlaganje, obračunato na iznos isplate xxxx xx prevremeno obustavljena.

1.6.V(2) OTKAZIVANjE

(a) Ako saglasno članu 1.6.A, Zajmoprimac otkaže:

(i) Tranšu sa fiksnom stopom xxxx xx Prihvaćena tranša, on obeštećuje Banku prema članu 4.2B;

(ii) Tranšu sa varijabilnom stopom xxxx xx Prihvaćena tranša ili bilo xxxx xxx Kredita osim Prihvaćene tranše, nikakvo obeštećenje se ne plaća.

(b) Ako Banka otkaže:

(i) Tranšu sa fiksnom stopom xxxx xx Prihvaćena tranša nakon Slučaja prevremene otplate koji podleže obeštećenju ili nakon događaja Materijalno štetne promene ili saglasno članu 1.5.B ili članu 1.6.B(a)(ii), Zajmoprimac plaća Banci Obeštećenje za prevremenu otplatu; ili

(ii) Prihvaćenu tranšu nakon Slučaja neispunjenja obaveza, Zajmoprimac obeštećuje Banku prema članu 10.3.

Osim u ovim slučajevima, nikakvo obeštećenje se ne plaća nakon otkazivanje Tranše xx xxxxxx Xxxxx.

Obeštećenje se obračunava kao da je otkazani iznos isplaćen i otplaćen na Zakazani datum isplate, ili u meri u kojoj joj je isplata Xxxxxx trenutno odložena ili obustavljena, na datum obaveštenja o otkazivanju.

1.7 Otkazivanje po isteku Kredita

Na datum nakon Krajnjeg datuma raspoloživosti, i ukoliko nije drugačije posebno dogovoreno xx xxxxxx Xxxxx u pisanoj formi, deo Kredita za koji nije dostavljeno nijedno Obaveštenje o prihvatanju isplate u skladu sa članom 1.2.V automatski se otkazuje, bez bilo kakvog obaveštenja koje Banka uručuje Zajmoprimcu i bez obaveze koja nastaje za bilo koju Ugovornu stranu.

1.8 Iznosi dospeli prema članu 1.

Iznosi dospeli prema članovima 1.5 i 1.6 plaćaće se u EUR. Oni su plativi u roku od 15 (petnaest) xxxx od kada Zajmoprimac primi zahtev Banke ili u bilo kom dužem roku navedenom u zahtevu Banke.

Član 2. Zajam

2.1 Xxxxx Xxxxx

Zajam se sastoji od ukupnih iznosa Tranši koje xx Xxxxx isplatila po Kreditu, xxxx xx potvrđeno xx xxxxxx Xxxxx, saglasno članu 2.3.

2.2 Valuta otplate, kamata i drugi troškovi

Kamatu, otplate i druge troškove koji se plaćaju u vezi sa svakom Tranšom, Zajmoprimac xx xxxxx da plaća u valuti u kojoj se Xxxxxx isplaćuje.

Bilo koje drugo plaćanje vrši se u valuti koju određuje Banka, uzimajući u obzir valutu rashoda koji će biti plaćen xxx isplatom.

2.3 Potvrda Banke

U roku od 10 (deset) xxxx od isplate svake Tranše, Banka dostavlja Zajmoprimcu plan otplate koji se navodi u članu 4.1, koja prikazuje Datum isplate, valutu, isplaćeni iznos, uslove otplate i kamatnu stopu za tu Tranšu.

3.1 Kamatna xxxxx

Član 3. Kamata

Fiksna xxxxx i rasponi su raspoloživi tokom perioda ne kraćeg od 4 (četiri) godine ili, u slučaju neplaćanja glavnice tokom navedenog perioda, ne kraćeg od 3 (tri) godine.

3.1.A Tranše sa fiksnom stopom

Zajmoprimac plaća kamatu na neizmireni iznos svake Tranše sa fiksnom stopom po Fiksnoj stopi kvartalno, polugodišnje ili godišnje na odgovarajuće Datume plaćanja xxxx xx navedeno u Ponudi za isplatu, počev od prvog takvog Datuma plaćanja nakon Datuma isplate Tranše. Ako je period od Datuma isplate do prvog Datuma plaćanja 15 (petnaest) xxxx ili manje, onda se plaćanje xxxxxx obračunate u xxx periodu odlaže do sledećeg Datuma plaćanja.

Kamata se obračunava na osnovu člana 5.1.(a).

3.1.B Tranše sa varijabilnom stopom

Zajmoprimac plaća kamatu na neizmireni iznos svake Tranše sa varijabilnom stopom po Varijabilnoj stopi kvartalno, polugodišnje ili godišnje, na odgovarajuće Datume plaćanja, xxxx xx navedeno u Ponudi za isplatu, počev od prvog takvog Datuma plaćanja nakon Datuma isplate Tranše. Ako je period od Datuma isplate do prvog Datuma plaćanja 15 (petnaest) xxxx ili manje, onda se plaćanje xxxxxx obračunate u xxx periodu odlaže do sledećeg Datuma plaćanja.

Banka obaveštava Zajmoprimca o Varijabilnoj stopi u roku od 10 (deset) xxxx xxxxx početka svakog Referentnog perioda za varijabilnu stopu.

Ako se, saglasno članovima 1.5 i 1.6 isplata bilo koje Tranše sa varijabilnom stopom dogodi posle Zakazanog datuma isplate, XXXXXXX koji se primenjuje za prvi Referentni period za varijabilnu stopu primenjuje xx xxx da je isplata izvršena na Zakazani datum isplate.

Kamata se obračunava za svaki Referentni period za varijabilnu stopu na osnovu člana 5.1.(b). Ako je Varijabilna xxxxx za xxxx xxxx Referentni period za varijabilnu stopu ispod nule, ona će biti nula.

3.1.V Revizija ili konverzija Tranši

Kada Zajmoprimac izabere opciju da izvrši reviziju ili konverziju kamatne stope Tranše, on će, od Datuma efektivnosti Revizije/Konverzije (u skladu sa postupkom opisanim u Prilogu G), platiti kamatu po stopi utvrđenoj u skladu sa odredbama Priloga G.

3.2 Kamata na neizmirene iznose

Ne dovodeći u pitanje član 10. i kao izuzetak od člana 3.1, ako Zajmoprimac ne plati bilo koji iznos koji je dospeo prema ovom ugovoru na datum dospeća obaveze, obračunavaće se kamata, zavisno od obavezujućih odredbi važećih zakona, uključujući član 1154 Građanskog zakonika Luksemburga, na bilo koji neizmireni iznos koji dospeva pod uslovima ovog ugovora, od datuma dospeća do datuma stvarnog plaćanja, po godišnjoj stopi jednakoj:

(a) za neizmirene iznose u pogledu Tranše sa varijabilnom kamatnom stopom, plaćaće se Varijabilna kamatna xxxxx plus 2% (200 baznih poena);

(b) za neizmirene iznose u pogledu Tranše sa fiksnom kamatnom stopom, plaćaće se veći iznos od (a) primenljive Fiksne stope plus 2% (200 baznih poena) ili (b) EURIBOR plus 2% (200 baznih poena); i

(v) za neizmirene iznose osim navedenih pod (a) i (b), EURIBOR plus 2% (200 baznih poena),

i plaćaće se u skladu sa zahtevom Banke. U svrhu određivanja EURIBOR-a u vezi sa ovim članom 3.2, odgovarajući periodi u smislu Priloga B su uzastopni periodi u trajanju od jednog meseca koji počinju na datum dospeća.

Ukoliko je neizmireni iznos u valuti drugačijoj od valute Zajma, sledeća godišnja xxxxx xx primenjuje, naime odgovarajuća međubankarska xxxxx xxxx banka generalno koristi za transakcije u toj valuti plus 2% (200 baznih poena), obračunato u skladu sa tržišnom praksom za svaku stopu.

3.3 Slučaj poremećaja na tržištu

Ako se u bilo koje vreme (i) od izdavanja Obaveštenja o prihvatanju isplate xx xxxxxx Xxxxx u vezi sa Tranšom, i (ii) do datuma koji pada trideset (30) kalendarskih xxxx pre Zakazanog datuma isplate, dogodi Slučaj poremećaja na tržištu, Banka može obavestiti Zajmoprimca da je ova klauzula stupila na snagu. U xxx slučaju, kamatna xxxxx koja se primenjuje za takvu Prihvaćenu tranšu do Datuma dospeća ili Datuma revizije/konverzije xxxxxx, ukoliko postoji, xxxx xxxxx (izražena kao procentualna godišnja xxxxx) za xxxx Xxxxx utvrdi da je njen ukupni trošak za finansiranje odgovarajuće Tranše, na osnovu tada primenjive interno kreirane referentne stope Banke ili alternativnog metoda za određivanje te stope, xxxx Xxxxx delujući razumno utvrdi.

Zajmoprimac ima pravo da pisanim putem odbije takvu isplatu unutar krajnjeg roka navedenog u obaveštenju i snosiće rezultirajuće troškove, ako postoje, u kom slučaju Banka neće izvršiti isplatu i odgovarajući Kredit ostaje na raspolaganju za isplatu prema članu 1.2.B. Ako Zajmoprimac ne odbije isplatu na vreme, ugovorne strane su saglasne da su isplata i uslovi iste u potpunosti obavezujući za obe ugovorne strane.

U xxx slučaju, Raspon ili Fiksna xxxxx koje xx Xxxxx prethodno navela u Obaveštenju o isplati, više xx xxxx primenjivati.

Član 4. Otplata

4.1 Redovna otplata

4.1.A Otplata u ratama

(a) Zajmoprimac otplaćuje svaku Tranšu u ratama na Datume plaćanja navedene u odgovarajućoj Ponudi za isplatu u skladu sa uslovima plana otplate dostavljenog saglasno članu 2.3.

(b) Svaki plan otplate izradiće se na osnovu sledećeg:

(i) u slučaju Tranše sa fiksnom stopom, bez Datuma revizije/konverzije xxxxxx, otplata se vrši godišnje, polugodišnje

ili kvartalno jednakim ratama glavnice ili stalnim ratama glavnice i xxxxxx;

(ii) u slučaju Tranše sa fiksnom stopom, sa Datumom revizije/konverzije xxxxxx ili Tranše sa varijabilnom stopom, otplata se vrši u jednakim godišnjim, polugodišnjim ili kvartalnim ratama glavnice;

(iii) prvi datum otplate svake Tranše je Datum plaćanja koji pada ne ranije od 60 (šezdeset) xxxx od Zakazanog datuma isplate i ne kasnije od prvog Datuma plaćanja, odmah posle 5. (xxxx) godišnjice Zakazanog datuma isplate Tranše; i

(iv) poslednji datum otplate svake Tranše xxxx Datum plaćanja koji pada ne ranije od 4 (četiri) godine i ne kasnije od 25 (dvadeset pet) xxxxxx xx Zakazanog datuma isplate.

4.2 Dobrovoljna prevremena otplata

4.2.A Izbor prevremene otplate

Zavisno od članova 4.2.B, 4.2.V i 4.4, Zajmoprimac može da izvrši prevremeno plaćanje svih ili dela bilo koje Xxxxxx, zajedno sa obračunatom kamatom i obeštećenjima ako postoje, dajući Zahtev za prevremenu otplatu najmanje jedan 1 (jedan) mesec ranije, precizirajući (i) iznos prevremene otplate, (ii) Datum prevremene otplate, (iii) ako je merodavno, izbor metoda primene Iznosa prevremene otplate kredita u skladu sa članom 5.5.V(a) i

(iv) broj ugovora („FI nr 86763”) naveden na naslovnoj strani ovog ugovora. Prema članu 4.2.V Zahtev za prevremenu otplatu je obavezujući i neopoziv.

4.2.B Obeštećenje za prevremenu otplatu

4.2.B(1) TRANŠA SA FIKSNOM STOPOM

U skladu sa članom 4.2.B (3), ako Zajmoprimac prevremeno otplati Tranšu sa fiksnom stopom, Zajmoprimac plaća Banci na Datum prevremene otplate Obeštećenje za prevremenu otplatu kredita u odnosu na Tranšu sa fiksnom stopom xxxx xx prevremeno otplaćena.

4.2.B(2) TRANŠA SA VARIJABILNOM STOPOM

U skladu sa Članom 4.2. B (3), Zajmoprimac može prevremeno otplatiti neku Tranšu sa varijabilnom stopom bez obeštećenja, na bilo koji odgovarajući Datum plaćanja.

4.2.B(3) BEZ OBEŠTEĆENjA

Ukoliko Zajmoprimac u pisanoj formi ne prihvati Fiksnu kamatnu stopu u pogledu Predloga Revizije/Konverzije xxxxxx u skladu sa Prilogom G, prevremena otplata Tranše na Datum Revizije/Konverzije xxxxxx xxxx xx definisano članom 1.2.V, ili u skladu sa Prilogom V ili Prilogom G, u zavisnosti od slučaja, može biti izvršena bez obeštećenja.

4.2.V Mehanizmi prevremene otplate

Po predaji xx xxxxxx Zajmoprimca Banci Zahteva za prevremenu otplatu, Xxxxx xx izdati Obaveštenje o prevremenoj otplati Zajmoprimcu, najkasnije

15 (petnaest) xxxx pre Datuma prevremene otplate. Obaveštenje o prevremenoj otplati će sadržati Iznos prevremene otplate, obračunatu kamatu dospelu do tada, Obeštećenje za prevremenu otplatu, plativo prema članu 4.2.B, ili, ako je slučaj da nikakvo obeštećenje nije dospelo, metod primene iznosa prevremene otplate kredita i Rok za prihvatanje.

Ako Zajmoprimac prihvati Obaveštenje o prevremenoj otplati ne kasnije xx Xxxx za prihvatanje, on će izvršiti prevremenu otplatu. U bilo kom drugom slučaju, Zajmoprimac ne može izvršiti prevremenu otplatu.

Zajmoprimac će uz prevremenu otplatu platiti obračunatu kamatu i obeštećenje, ako postoji, dospelih na Iznos prevremene otplate, xxxx xx navedeno u Obaveštenju o prevremenoj otplati.

4.3 Obavezna prevremena otplata

4.3.A Slučajevi prevremene otplate

4.3.A(1) SMANjENjE XXXXXX PROJEKTA

Ako ukupan trošak Projekta padne ispod cifre navedene u Preambuli (v) tako da iznos Kredita prevazilazi:

(a) 50% (pedeset procenata); i/ili

(b) kada se sabere sa iznosom bilo kojih sredstava Evropske Unije raspoloživim za Projekat, 90% (devedeset procenata),

takvog ukupnog xxxxxx Projekta, Banka može smesta, obaveštenjem Zajmoprimcu, da otkaže neisplaćen deo Kredita i/ili zahtevati prevremenu otplatu Zajma do iznosa kojim Kredit prevazilazi limite napred navedene pod (a) i (b). Zajmoprimac vrši plaćanje tražene sume na datum koji je navela Xxxxx, xxx datum je datum koji pada ne ranije od 30 (trideset) xxxx od datuma zahteva.

4.3.A(2) PARI PASSU U ODNOSU NA FINANSIRANjE KOJE NIJE XX XXXXXX EIB-a

Ako Zajmoprimac dobrovoljno prevremeno otplati (radi izbegavanja sumnje, prevremena otplata će uključiti otkup ili otkaz gde je to merodavno) delimično ili u celosti bilo koji iznos finansiranja koje nije xx xxxxxx EIB-a i:

(a) takva prevremena otplata se ne obavlja iz sredstava revolving kreditne linije (izuzev otkazivanja revolving kreditne linije); ili

(b) takva prevremena otplata se ne obavlja iz sredstava nekog zajma ili drugog zaduženja, sa rokom barem jednakim preostalom roku prevremeno otplaćenog iznosa finansiranja koje nije xx xxxxxx EIB-a,

Banka može obaveštenjem Zajmoprimcu otkazati neisplaćeni deo Kredita i zahtevati prevremenu otplatu Zajma. Banka može zahtevati da deo Xxxxx za prevremenu otplatu bude u onoj proporciji u kojoj prevremeno otplaćeni iznos finansiranja koji nije xx xxxxxx EIB-a učestvuje u ukupnom neisplaćenom iznosu svih finansiranja koja nisu xx xxxxxx EIB-a.

Zajmoprimac izvršava plaćanje traženog iznosa na datum naveden xx xxxxxx Xxxxx, takav datum je datum koji pada ne ranije od 30 (trideset) xxxx od datuma zahteva.

U svrhe ovog člana, „Finansiranje koje nije xx xxxxxx EIB-a” uključuje bilo koji zajam, (osim Zajma i bilo kog drugog neposrednog zajma Banke Zajmoprimcu), obveznicu ili drugi oblik finansijskog zaduženja ili bilo koju obavezu za plaćanje ili otplatu novčanih obaveza, xxxx xx prvobitno odobrena Zajmoprimcu na rok duži od 5 (pet) xxxxxx.

4.3.A(3) SLUČAJ PROMENE ZAKONA

Zajmoprimac će bez odlaganja obavestiti Banku o nastupanju slučaja promene zakona ili verovatnoći nastupanja. U takvom slučaju, ili ako Banka ima opravdan razlog da veruje da xx xxxxx ili da predstoji Slučaj promene

zakona, Banka može zahtevati da je Zajmoprimac konsultuje. Do takve konsultacije xxxx xxxx u roku od 30 (trideset) xxxx od datuma zahteva Banke. Ako je, po isteku 30 (trideset) xxxx od datuma takvog zahteva za konsultacije Banka mišljenja da posledice Slučaja promene zakona ne mogu biti ublažene na zadovoljavajući način, Banka može obaveštenjem Zajmoprimcu, da otkaže neisplaćeni deo Kredita i zahtevati prevremenu otplatu Xxxxx, zajedno sa obračunatom kamatom i svim drugim obračunatim i neisplaćenim iznosima prema ovom ugovoru.

Zajmoprimac izvršava plaćanje zahtevanog iznosa na datum koji precizira Xxxxx, xxx datum je datum koji pada ne manje od 30 (trideset) xxxx od datuma zahteva.

U smislu ovog člana „Slučaj promene zakona” znači donošenje zakona, proglašavanje, potpisivanje ili ratifikaciju ili bilo koju promenu ili izmenu i dopunu bilo kog zakona, pravila ili propisa (ili u primeni ili u zvaničnom tumačenju bilo kog zakona, pravila ili propisa) koji nastaju posle datuma ovog ugovora i koji bi, po opravdanom uverenju Banke, materijalno smanjio sposobnost Zajmoprimca da izvrši svoje obaveze prema ovom ugovoru.

4.3.A(4) NEZAKONITOST

Ukoliko

(a) postane nezakonito u bilo kojoj merodavnoj jurisdikciji da Banka obavlja bilo koju od njenih obaveza kako su predviđene u ovom ugovoru, ili da finansira ili održava Zajam, ili

(b) Okvirni ugovor jeste ili će verovatno postati:

(i) nepriznat xx xxxxxx Republike Srbije ili neobavezujući za Republiku Srbiju u bilo kom pogledu; ili

(ii) nevažeći u skladu sa svojim uslovima ili Republika Srbija tvrdi da je nevažeći u skladu sa svojim uslovima, ili

(iii) prekršen, u smislu da bilo koja obaveza xxxx xx preuzela Republika Srbija prema Okvirnom ugovoru prestaje da se ispunjava u pogledu bilo kog zajma datog bilo kom zajmoprimcu na teritoriji Srbije, iz sredstava Banke ili EU.

(v) u pogledu Garancije EU:

(i) nije više važeća i pravosnažna;

(ii) ovde navedeni uslovi za pokrivanje nisu ispunjeni; ili

(iii) nije važeća u skladu sa svojim uslovima ili se tvrdi da je nevažeća u skladu sa svojim uslovima.

Banka može, obaveštenjem Zajmoprimcu, odmah (i) privremeno obustaviti ili otkazati neisplaćeni deo Kredita i/ili (ii) zahtevati prevremenu otplatu Xxxxx, zajedno sa obračunatom kamatom i svim drugim iznosima koji su obračunati ili neplaćeni prema ovom ugovoru, na datum naveden xx xxxxxx Xxxxx u njenom obaveštenju Zajmoprimcu. Zajmoprimac će izvršiti plaćanje traženog iznosa na datum koji xx Xxxxx odrediti, a takav datum:

(a) u slučaju da nastupi neki od događaja definisanih u stavovima (b) i (v) ovog člana, taj datum neće pasti pre 30 (tridesetog) xxxx od datuma u zahtevu; i

(b) u slučaju da nastupi događaj definisan u stavu (a) ovog člana, taj datum neće pasti pre 30 (tridesetog) xxxx od datuma u zahtevu a ako

bi bio pre, na poslednji xxx xxxx kog primenljivog perioda počeka dozvoljenog zakonom.

4.3.A(5) SPORAZUM O SPROVOĐENjU PROJEKTA

Ukoliko:

(a) se dogodi bilo kakvo kršenje xx xxxxxx Promotera ili Krajnjeg korisnika bilo koje od svojih obaveza prema Sporazumu o sprovođenju Projekta ili se dogodi bilo koja Materijalno štetna promena (xxxx xx definisano u Sporazumu o sprovođenju Projekta) u poređenju sa uslovom za Krajnjeg korisnika na datum Sporazuma o sprovođenju Projekta;

(b) bilo koja informacija ili dokument koji se daju Banci xx xxxxxx, ili u ime, Promotera ili Krajnjeg korisnika ili bilo koja izjava ili izveštaj koji su sačinjeni ili je traženo da budu sačinjeni xx xxxxxx Promotera ili Krajnjeg korisnika u primeni Sporazuma o sprovođenju Projekta jeste ili se dokaže da je neispravna, nekompletna ili navodi na pogrešan zaključak u bilo kom materijalnom pogledu; ili

(v) jeste ili postane nezakonito za Promotera ili Krajnjeg korisnika da izvršava bilo koju od svojih obaveza po Sporazumu o sprovođenju Projekta, ili ako Sporazum o sprovođenju Projekta nije izvršiv u skladu sa njegovim uslovima, ili ako su Promoter ili Krajnji korisnik naveli da nije izvršiv u skladu sa njegovim uslovima,

Banka može, obaveštenjem Zajmoprimcu, odmah (i) otkazati neisplaćeni deo Kredita i/ili (ii) zahtevati prevremenu otplatu Xxxxx, zajedno sa obračunatom kamatom i svim drugim iznosima koji su obračunati ili neplaćeni prema ovom ugovoru. Zajmoprimac će izvršiti plaćanje traženog iznosa na datum xxxx xxxx pasti pre 30 (tridesetog) xxxx od datuma u zahtevu koji xx Xxxxx odrediti.

4.3.B Mehanizam prevremene otplate

Bilo koji iznos zahtevan xx xxxxxx Xxxxx saglasno članu 4.3.A, zajedno xx xxxx kojom kamatom ili drugim iznosima obračunatim ili neplaćenim prema ovom ugovoru, uključujući bez ograničenja, bilo koje obeštećenje dospelo prema članu 4.3.V i članu 4.4, se plaća na datum naznačen xx xxxxxx Xxxxx u njenom obaveštenju o zahtevu.

4.3.V Obeštećenje za prevremenu otplatu

U Slučaju prevremene otplate koji podleže obeštećenju, Obeštećenje, ako postoji, određuje se u skladu sa članom 4.2.B.

4.4 Opšte

Neki isplaćen ili prevremeno otplaćen iznos se ne može ponovo pozajmiti. Ovaj član 4. ne dovodi u pitanje član 10.

Ako Zajmoprimac prevremeno otplati Tranšu, na datum koji nije relevantni Datum plaćanja, Zajmoprimac će obeštetiti Banku u takvom iznosu koji xx Xxxxx potvrditi kao iznos koji je neophodan da bi se kompenzovala za prijem sredstava na datum koji nije relevantni Datum plaćanja.

Član 5.

Plaćanje

5.1 Konvencija o brojanju xxxx

Xxxx koji iznos dospeo putem xxxxxx, obeštećenja ili naknada Zajmoprimca prema ovom ugovoru, i obračunat u odnosu na xxx xxxxxx, određuje se prema sledećim odgovarajućim konvencijama:

(a) u skladu sa kamatom i obeštećenjima dospelim prema Tranši sa fiksnom kamatom, uzima xx xxxxxx od 360 (tri stotine i šezdeset) xxxx x xxxxx od 30 (trideset) xxxx;

(b) u skladu sa kamatom i obeštećenjima dospelim prema Tranši sa varijabilnom stopom, uzima xx xxxxxx od 360 (tri stotine i šezdeset) xxxx x xxxx proteklih xxxx; i

(v) u pogledu naknada, uzima xx xxxxxx od 360 (tri stotine i šezdeset) xxxx x xxxx proteklih xxxx.

5.2 Vreme i mesto plaćanja

Ako drugačije nije navedeno u ovom ugovoru ili u zahtevu Banke, svaki iznos koji nije kamata, obeštećenje i glavnica je plativ u roku od 15 (petnaest) xxxx od kada Zajmoprimac primi zahtev Banke.

Svaki iznos plativ xx xxxxxx Zajmoprimca prema ovom ugovoru se plaća na odgovarajući račun koji xx Xxxxx naznačila Zajmoprimcu. Banka obaveštava o računu najmanje 15 (petnaest) xxxx pre datuma dospeća prvog plaćanja xx xxxxxx Zajmoprimca i obaveštava o bilo kojoj promeni računa najmanje 15 (petnaest) xxxx pre datuma prvog plaćanja na koje se ta promena primenjuje. Ovaj period obaveštavanja se ne primenjuje u slučaju plaćanja prema članu 10.

Zajmoprimac će naznačiti u svakom plaćanju izvršenom prema ovom ugovoru broj ugovora („FI nr 86763”) koji se nalazi na naslovnoj strani ovog ugovora.

Iznos dospeo Zajmoprimcu za plaćanje se smatra plaćenim kada ga Banka primi.

Bilo koje isplate xx xxxxxx Xxxxx i plaćanja Banci prema ovom ugovoru se vrše korišćenjem računa prihvatljivih za Banku. Radi izbegavanja sumnje, bilo koji račun na ime Zajmoprimca koji on drži kod neke propisno ovlašćene finansijske institucije xxxx xx u nadležnosti pravnog sistema gde Zajmoprimac ima pravni subjektivitet, smatra se prihvatljivim za Banku.

5.3 Bez poravnanja xx xxxxxx Zajmoprimca

Sva plaćanja Banci xx xxxxxx Zajmoprimca prema ovom ugovoru se obračunavaju i xxxx izvršena bez (i oslobođena i čista od bilo kakvih odbitaka) poravnanja ili protivpotraživanja.

5.4 Poremećaj u sistemima za plaćanje

Bilo da Banka odluči (prema svom diskrecionom pravu) da se Slučaj poremećaja dogodio ili xx Xxxxx o tome obaveštena xx xxxxxx Zajmoprimca:

(a) Banka može, i to će uraditi ako dobije zahtev od Zajmoprimca, da se konsultuje sa Zajmoprimacem u cilju dogovora oko promena obavljanja operacija ili administracije ovog ugovora, ako Banka smatra nužnim u takvim okolnostima;

(b) Banka nije u obavezi da se konsultuje sa Zajmoprimaocem u odnosu na bilo koju promenu navedenu u stavu (a) ako, po njenom mišljenju, to nije praktično izvodljivo učiniti u xxx okolnostima i, u svakom slučaju, nema obavezu da se složi sa takvim promenama; i

(v) Banka nije odgovorna za bilo kakvu štetu, troškove ili gubitke, nastale kao rezultat nekog Slučaja poremećaja ili za preduzimanje ili nepreduzimanje bilo koje aktivnosti, saglasno ili u vezi sa ovim članom 5.4.

5.5 Primena primljenih iznosa

5.5.A Opšte

Iznosi primljeni od Zajmoprimca samo rasterećuju njegove obaveze plaćanja, ako su primljeni u skladu sa uslovima ovog ugovora.

5.5.B Delimična plaćanja

Ako Banka primi neko plaćanje koje je nedovoljno da se otplate svi iznosi, tada dospeli i plativi xx xxxxxx Zajmoprimca prema ovom ugovoru, Banka primenjuje to plaćanje:

(a) prvo, unutar ili za plaćanje pro rata bilo kojih neplaćenih naknada, troškova, obeštećenja i izdataka dospelih prema ovom ugovoru;

(b) drugo, unutar ili za plaćanje bilo koje obračunate xxxxxx dospele, ali neplaćene prema ovom ugovoru;

(v) treće, unutar ili za plaćanje bilo koje glavnice dospele ali neplaćene prema ovom ugovoru; i

(g) četvrto, unutar ili za plaćanje bilo kog drugog iznosa dospelog ali neplaćenog prema ovom ugovoru.

5.5.V Raspodela iznosa vezanih za Tranše

(a) U slučaju:

(i) delimične dobrovoljne prevremene otplate Tranše koja podleže otplati u više rata, iznos prevremene otplate se primenjuje pro rata na svaku neplaćenu ratu, ili, na zahtev Zajmoprimca, u obrnutom redosledu dospeća; ili

(ii) delimične obavezne prevremene otplate Xxxxxx koja podleže otplati u više rata, iznos prevremene otplate se primenjuje u smanjenju nenaplaćenih rata u obrnutom redosledu dospeća.

(b) Iznosi primljeni xx xxxxxx Xxxxx prateći neki zahtev prema članu 10.1 i merodavni za neku Tranšu, smanjuju nenaplaćene rate u obrnutom redosledu dospeća. Banka može primeniti iznose primljene između Xxxxxx po svom diskrecionom pravu.

(v) U slučaju prijema iznosa koji se ne mogu identifikovati kao merodavni za neku specifičnu Tranšu, i za koje ne postoji sporazum između Banke i Zajmoprimca o njihovoj primeni, Banka može primeniti iste između Xxxxxx po svom diskrecionom pravu.

Član 6.

Obaveze i izjave Zajmoprimca

Obaveze iz člana 6. ostaju na snazi od datuma ovog ugovora onoliko xxxx koliko bilo koji iznos bude neizmiren prema ovom ugovoru ili xx Xxxxxx na snazi.

A. OBAVEZE IZ PROJEKTA

6.1 Korišćenje Zajma i raspoloživost drugih sredstava

Zajmoprimac će obezbediti da iznosi isplaćeni kao Zajam Zajmoprimcu prema ovom ugovoru budu stavljeni na raspolaganje Krajnjem korisniku isključivo za finansiranje Projekta, na takav način i u vremenskom roku kako bi se obezbedilo da Krajnji korisnik sprovodi Projekat prema uslovima iz Sporazuma o sprovođenju Projekta.

Zajmoprimac će obezbediti da ima na raspolaganju i druga sredstva navedena u Preambuli (v) i da su ta sredstva dovoljna, do traženog opsega, za finansiranje Projekta.

6.2 Uvećani trošak Projekta

Ako ukupni trošak Projekta premaši procenjenu cifru navedenu u Preambuli (v), Zajmoprimac će obezbediti finansiranje uvećanog xxxxxx bez obraćanja Banci, tako da se omogući završetak Projekta u skladu sa Tehničkim opisom. Planovi za finansiranje uvećanog xxxxxx xx saopštavaju Banci bez odlaganja.

B. OPŠTE OBAVEZE

6.3 Poštovanje zakona

Zajmoprimac će poštovati u potpunosti sve zakone i propise koji se odnose na njega.

6.4 Integritet

(a) Zabranjeno ponašanje: Zajmoprimac ne sme (niti sme ovlastiti ili dozvoliti bilo kom zavisnom pravnom licu ili drugom licu, koje postupa u njegovo ime, da sudeluje) u bilo kakvom Zabranjenom ponašanju u vezi xx xxxx kakvom transakcijom predviđenom Ugovorom.

(b) Sankcije: Zajmoprimac ne sme (i) sudelovati u poslovnom odnosu xx xxxx kojim Sankcionisanim licem, ili (ii) stavljati bilo kakva finansijska sredstva na raspolaganje ili u korist, direktno ili indirektno, bilo kom Sankcionisanom licu.

(v) Službenici Zajmoprimca: Zajmoprimac preduzima, unutar nekog razumnog vremenskog okvira, odgovarajuće mere u odnosu na bilo kog službenika ili lice koje ima javnu kancelariju koji je:

(i) postao Sankcionisano lice; ili

(ii) je predmet konačne i neopozive sudske odluke u vezi sa Zabranjenim ponašanjem izvršenim u toku vršenja njihovih službenih dužnosti,

da bi osigurao da je takav član suspendovan, otpušten ili izuzet od bilo koje aktivnosti Zajmoprimca,u odnosu na Zajam.

6.5 Opšte izjave i garancije

Zajmoprimac izjavljuje i garantuje Banci da:

(a) on poseduje ovlašćenje da zaključi, preda i izvršava svoje obaveze prema ovom ugovoru i da su sve neophodne Xxxxxxx x xxxxx aktivnosti preduzete s njegove strane da se odobri zaključenje, predaja i izvršenje istog;

(b) ovaj ugovor predstavlja zakonski važeće, obavezujuće i izvršne obaveze;

(v) zaključivanje i predaja ovog ugovora, izvršavanje njegovih ugovornih obaveza prema odredbama ovog ugovora ne predstavljaju niti se očekuje da će predstavljati kršenje ili sukob sa:

(i) bilo kojim važećim zakonom, statutom, pravilom ili propisom, ili bilo kojom sudskom odlukom, rešenjem ili dozvolom koje se odnose na Ugovor;

(ii) bilo kojim sporazumom ili drugim instrumentom obavezujućim za Zajmoprimca, za koji se može razumno očekivati da ima materijalno štetno dejstvo po sposobnost Zajmoprimca da izvrši svoje obaveze prema ovom ugovoru;

(g) nije bilo Materijalne štetne promene od 15. novembra 2017. godine xxxx xx ova kreditna operacija odobrena xx xxxxxx Upravnog odbora Xxxxx xxx što je dokumentovano ovim ugovorom;

(d) nije došlo ni do kakvog događaja ili okolnosti koji čine Slučaj prevremene otplate ili Slučaj neispunjenja obaveza, niti isti traju bez pravnog leka ili odricanja;

(đ) nikakva parnica, arbitraža, upravni postupak ili istraga nisu u toku, ili su prema njegovom saznanju zaprećeni ili nerešeni pred bilo kojim sudom, arbitražnim telom ili agencijom, koji bi doveli, ili ako bi se nepovoljno rešili postoji verovatnoća da bi doveli do Materijalno štetne promene, niti da protiv njega ili nekog njegovog zavisnog društva postoji bilo kakvo neizvršenje presude ili sudske kazne;

(e) je pribavio sva neophodna Odobrenja u vezi sa ovim ugovorom, da bi ispunio sve odredbe definisane istim i da su sva Odobrenja na snazi i izvršiva i prihvatljiva kao dokaz;

(ž) se njegove obaveze plaćanja prema ovom ugovoru rangiraju najmanje pari passu u pogledu plaćanja sa svim drugim sadašnjim i budućim neobezbeđenim i nezavisnim obavezama po osnovu bilo kog instrumenta zaduženja Zajmoprimca, osim obaveza kojima se po zakonu daje prioritet;

(z) je saglasan sa svim obavezama prema ovom članu 6;

(i) nikakva klauzula o gubitku rejtinga ili finansijski ugovori, kao što je opisano u članu 7.3, nisu zaključeni xx xxxx kojim drugim poveriocem Zajmoprimca;

(j) prema njegovom najboljem saznanju, nikakva sredstva uložena u Projekat xx xxxxxx Zajmoprimca nisu nezakonitog porekla, uključujući proizvode Pranja novca ili povezane sa Finansiranjem terorizma; i

(k) Zajmoprimac, njegovi službenici ili xxxx xxxx imaju javnu kancelariju ili postupaju u njegovo ili njihovo ime ili pod njegovom ili njihovom kontrolom, nije počinio niti će počiniti (i) nikakvo Nedozvoljeno ponašanje u vezi xx xxxx kakvom transakcijom predviđenom Ugovorom; ili (ii) bilo kakvu nelegalnu aktivnost povezanu sa Finansiranjem terorizma ili Pranjem novca.

Izjave i garancije napred obrazložene ostaju xx xxxx i po potpisivanju ovog ugovora i smatraju se, sa izuzetkom izjava u stavu (g), ponovljenim sa svakim Zahtevom za isplatu, Datumom isplate i na svaki Datum plaćanja.

Član 7.

Obezbeđenje

Obaveze u ovom članu 7. ostaju na snazi od datuma ovog ugovora, sve dok postoji neki neizmiren iznos po ovom ugovoru ili kreditu koji je na snazi.

7.1 Pari passu rangiranje

Zajmoprimac obezbeđuje da se njegove obaveze plaćanja po ovom ugovoru rangiraju, i budu rangirane, najmanje pari passu u pogledu prava na plaćanje sa svim drugim sadašnjim i budućim neobezbeđenim i nezavisnim obavezama po osnovu bilo kog instrumenta zaduženja Zajmoprimca, osim obaveza kojima se po zakonu daje prioritet.

Naročito, ako Banka uputi zahtev iz člana 10.1 ili ako je slučaj neizvršenja ili potencijalni slučaj neizvršenja nastupio ili može da nastupi po bilo kom neobezbeđenom i nezavisnom instrumentu spoljnog duga Zajmoprimca, Zajmoprimac neće vršiti (niti odobriti) bilo kakvo plaćanje u vezi s drugim takvim instrumentima spoljnog duga (bilo da je redovno planirano ili ne) ukoliko istovremeno ne plati ili ne izdvoji na namenski račun za plaćanje na naredni datum plaćanja iznos jednak onom delu neizmirenog duga na osnovu ovog ugovora koji odgovara učešću konkretnog plaćanja po osnovu tog instrumenta spoljnog duga u ukupnom neizmirenom dugu po osnovu tog instrumenta. Za potrebe ove odredbe ne uzimaju se u obzir plaćanja po instrumentu spoljnog duga koja se vrše iz sredstava dobijenih emitovanjem drugog instrumenta koji su upisala suštinski ista xxxx xxxx imaju potraživanja i po dotičnom instrumentu spoljnog duga.

U ovom ugovoru, „Instrument spoljnog duga” znači (a) instrument, uključujući svaku priznanicu ili izvod računa kojim se dokazuje ili koji predstavlja obavezu otplate zajma, depozita, avansa ili sličan vid kredita (uključujući bez ograničenja svako produženje kredita pod sporazumom o refinansiranju ili reprogramu), (b) obavezu koja se dokumentuje obveznicom, dužničkom hartijom od vrednosti ili sličnim pisanim dokazom zaduženosti ili (v) garanciju koju daje Zajmoprimac za obavezu xxxxx xxxxxx; u svakom slučaju pod uslovom da je takva obaveza: (i) regulisana pravnim sistemom koji nije pravo Zajmoprimca; ili (ii) plativa u valuti koja nije valuta Zajmoprimca; ili (iii) plativa povezanom licu sa mestom prebivališta ili stanovanja ili licu koje ima sedište ili glavno mesto poslovanja van zemlje Zajmoprimca.

7.2 Dodatno obezbeđenje

Ukoliko Zajmoprimac dodeli trećoj strani bilo koje sredstvo obezbeđenja za izvršenje bilo kog Instrumenta spoljnjog duga ili bilo koju povoljnost ili prioritet s njim u vezi, Zajmoprimac će, ukoliko Banka to zatraži, obezbediti Banci ekvivalentno sredstvo obezbeđenja za izvršenje svojih obaveza po ovom ugovoru ili će dodeliti Banci istu povoljnost ili prioritet.

7.3 Klauzule koje se naknadno unose

Ako Zajmoprimac zaključi xx xxxx kojim drugim finansijskim poveriocem finansijski ugovor koji sadrži klauzulu o gubitku kreditnog rejtinga ili ugovornu odredbu ili drugu odredbu u pogledu njegovih finansijskih odnosa, ako je primenjivo, što nije predviđeno u ovom ugovoru ili je povoljnije za odgovarajućeg finansijskog poverioca nego što xx xxxx koja ekvivalentna odredba ovog ugovora za Banku, Zajmoprimac će odmah obavestiti Banku i obezbediti kopiju povoljnije odredbe Banci. Banka može zahtevati da

Zajmoprimac odmah zaključi sporazum o izmeni i dopuni ovog ugovora, tako da dodeli Banci ekvivalentnu povoljnost ili prioritet.

Član 8.

Informacije i posete

8.1 Informacije o Zajmoprimcu

Zajmoprimac se obavezuje:

(a) da dostavi Banci:

(i) s vremena na vreme, dodatne informacije o njegovom opštem finansijskom stanju, koje Banka može razumno zahtevati ili sertifikate o usklađenosti sa članom 6, što Banka može smatrati potrebnim; i

(ii) bilo koje informacije ili dodatni dokument koji se odnose na pitanja dužne pažnje klijenta ili za Zajmoprimca, što Banka može razumno zahtevati u razumnom roku;

(b) da odmah obavesti Banku o:

(i) bilo kojoj činjenici koja ga obavezuje da prevremeno otplati bilo koje finansijsko dugovanje ili bilo koje finansiranje Evropske Unije;

(ii) bilo kom događaju ili odluci koji predstavljaju ili imaju za rezultat Slučaj prevremene otplate;

(iii) bilo kojoj nameri sa svoje strane da izda bilo kakvo Obezbeđenje na teret bilo kog dela njegove aktive u korist xxxxx xxxxxx;

(iv) o bilo kojoj činjenici ili događaju koji bi mogli da spreče suštinsko ispunjenje bilo koje obaveze Zajmoprimca, u okviru ovog ugovora;

(v) o bilo kom Slučaju neispunjenja obaveza koji je nastupio ili se očekuje, odnosno preti da se dogodi;

(vi) o bilo kojoj činjenici ili događaju koji za rezultat imaju to da službenici Zajmoprimca ili xxxx xxxx imaju javne kancelarije postanu Sankcionisane osobe, ili;

(vii) u meri u kojoj je to dozvoljeno zakonom, bilo kom predmetnom sporu, arbitraži, upravnom postupku ili istrazi sprovedenoj xx xxxxxx nekog xxxx, administracije ili sličnog državnog organa, xxxx xx, po njegovom najboljem znanju i uverenju, u toku, neminovna ili nerešena protiv Zajmoprimca, ili njegovih službenika ili xxxx xxxx imaju javnu kancelariju, a u vezi sa Nedozvoljenim ponašanjem vezanim za Zajam;

(viii) o bilo kojoj meri xxxx xx preduzeo Zajmoprimac, u skladu sa članom 6.4 ovog ugovora; i

(ix) bilo kojoj parnici, arbitraži ili upravnom postupku ili istrazi xxxx xx u toku, zaprećena ili nerešena, i koja može ako se nepovoljno reši, rezultirati nekom Materijalno štetnom promenom.

Član 9.

Rashodi i troškovi

9.1 Porezi, dažbine i naknade

Zajmoprimac plaća sve poreze, dažbine, naknade i druge namete bilo koje vrste, uključujući i taksene marke i naknade za registraciju, ako ih bude bilo, koje proističu iz zaključivanja i realizacije ovog ugovora i Sporazuma o sprovođenju Projekta ili bilo kog dokumenta vezanog za ovaj ugovor, kao i pri izradi, usavršavanju, registraciji ili primeni bilo kakvog Obezbeđenja za Zajam, u meri u kojoj je to primenljivo i po potrebi. U xxx slučaju, Zajmoprimac će obezbediti da sredstva Zajma i/ili bilo koji fondovi tehničke saradnje neće biti korišćeni za plaćanje carina i poreskih dažbina xx xxxxxx, ili na teritoriji, Zajmoprimca u odnosu xx xxxx, radove i usluge (uključujući i konsultantske usluge) nabavljene xx xxxxxx Promotera i ili Krajnjeg korisnika za svrhu Projekta.

Zajmoprimac plaća sve iznose na ime glavnice, xxxxxx, obeštećenja i druge iznose koji dospevaju po ovom ugovoru i Sporazumu o sprovođenju Projekta bruto, bez odbitka bilo kakvih državnih ili lokalnih nameta; s xxx što, u slučaju da je obavezan da napravi takve odbitke, Zajmoprimac uvećava iznos koji plaća Banci za iznos pomenutih odbitaka tako da, po odbitku, neto iznos xxxx Xxxxx primi bude ekvivalentan dospelom iznosu.

9.2 Ostali troškovi

Zajmoprimac plaća sve troškove i izdatke, uključujući stručne, bankarske ili menjačke troškove, nastale u vezi sa pripremom, zaključenjem, sprovođenjem i raskidom ovog ugovora i Sporazuma o sprovođenju Projekta ili bilo kog dokumenta, uključujući sve njihove izmene, dopune ili odricanja u vezi sa ovim ugovorom i Sporazumom o sprovođenju Projekta ili bilo kog s njima povezanog dokumenta, kao i izmenu, izradu, upravljanje, izvršenje i realizaciju bilo kog sredstva obezbeđenja Zajma.

9.3 Uvećani troškovi, obeštećenje i poravnanje

(a) Zajmoprimac plaća Banci bilo koje iznose ili izdatke kojima xx Xxxxx bila izložena, ili ih je pretrpela, kao posledicu uvođenja ili bilo koje promene u (ili u tumačenju, administraciji ili primeni) bilo kog zakona ili propisa ili usaglašavanja xx xxxx kojim zakonom ili propisom načinjenim nakon datuma potpisivanja ovog ugovora, u skladu sa ili kao rezultat čega (i) xx Xxxxx u obavezi da pretrpi dopunske troškove da bi finansirala ili izvršila svoje obaveze prema ovom ugovoru, ili (ii) xx xxxx koji iznos, koji se duguje Banci prema ovom ugovoru ili finansijski prihod koji je rezultat dodele Kredita ili Zajma xx xxxxxx Xxxxx Zajmoprimcu smanjen ili ukinut.

(b) Ne odričući se bilo kojih drugih prava Banke prema ovom ugovoru ili prema bilo kojem merodavnom zakonu, Zajmoprimac obeštećuje i obezbeđuje da Banka nema štete od i protiv bilo kog gubitka pretrpljenog kao rezultat bilo kog plaćanja ili delimične isplate, koja se dešava na način drugačiji od onoga xxxx xx izričito navedeno u ovom ugovoru.

(v) Banka može da poravna bilo koju dospelu obavezu Zajmoprimca prema ovom ugovoru (u meri u kojoj xx Xxxxx njihov stvarni vlasnik) u odnosu na bilo koju obavezu (bilo da jeste ili nije dospela) koju Banka duguje Zajmoprimcu, nezavisno xx xxxxx plaćanja, filijale knjiženja ili valute bilo koje obaveze. Ako su obaveze u različitim valutama, Banka može konvertovati bilo koju obavezu po tržišnom deviznom kursu koji primenjuje u svom redovnom poslovanju, radi poravnanja. Ako xx xxxx koja obaveza nelikvidna ili neutvrđena, Banka može izvršiti

poravnanje u nekom iznosu, za koji proceni u dobroj veri da je to iznos te obaveze.

Član 10.

Slučajevi neispunjenja obaveza

10.1 Pravo na zahtev za otplatu

Zajmoprimac otplaćuje Xxxxx ili neki njegov deo (po zahtevu Banke) odmah, zajedno sa prispelom kamatom i svim drugim prispelim ili neizmirenim iznosima prema ovom ugovoru, po pisanom zahtevu Banke, u skladu sa sledećim odredbama.

10.1.A Hitan zahtev

Banka može odmah da podnese takav zahtev:

(a) ako Zajmoprimac ne plati na datum dospeća bilo koji iznos plativ prema ovom ugovoru u mestu i u valuti u kojoj je on izražen kao plativ, osim ako je (i) neuspešno plaćanje uzrokovano nekom administrativnom ili tehničkom greškom ili nekim Slučajem poremećaja i (ii) plaćanje izvršeno u roku od 3 (tri) Xxxxx xxxx od njegovog datuma dospeća;

(b) ako bilo koja informacija ili dokument dostavljeni Banci xx xxxxxx ili u ime Zajmoprimca ili bilo koja izjava, garancija ili izveštaj koje Zajmoprimac daje ili se smatra da daje u ovom ugovoru ili u vezi sa pregovaranjem ili izvršenjem ovog ugovora jeste ili se dokaže da je netačna, nepotpuna ili obmanjujuća u bilo kom materijalnom pogledu;

(v) ako se, prateći bilo koje neispunjenje ugovornih obaveza xx xxxxxx Zajmoprimca u odnosu na bilo koji zajam, ili bilo koju obavezu koja proističe iz bilo koje finansijske transakcije, drugačije od Zajma,

(i) od Zajmoprimca zahteva ili može da se zahteva, ili će se po isteku bilo kog važećeg ugovornog perioda počeka od njega zahtevati ili moći da se zahteva prevremena otplata, izmirenje, zatvaranje ili raskid pre dospeća takvog drugačijeg zajma ili obaveze ili

(ii) bilo koja finansijska obaveza za takav drugačiji zajam ili obavezu bude otkazana ili obustavljena;

(g) ako Zajmoprimac nije u mogućnosti xx xxxxx svoje dugove o dospeću, ili ako obustavi plaćanje svojih dugova, ili načini ili xxxxxx da postigne dogovor o reprogramu obaveza sa svojim poveriocima uključujući moratorijum ili započne pregovore sa jednim ili više poverilaca u cilju reprograma bilo koje finansijske zaduženosti (ili bilo kakvih analognih postupaka);

(d) ako Zajmoprimac ne izvršava bilo koju obavezu u odnosu na bilo koji drugi zajam dodeljen xx xxxxxx Xxxxx ili finansijski instrument zaključen sa Bankom;

(đ) ako Zajmoprimac ne izvršava bilo koju obavezu po osnovu bilo kog drugog zajma koji je primio iz sredstava Banke ili Evropske unije;

(e) ako se bilo koja zaplena, izvršenje, konfiskovanje ili drugi proces nametne ili izvrši na imovini Zajmoprimca, ili bilo kojoj imovini koja xx xxx Projekta i nije oslobođena ili prekinuta u roku od 14 (četrnaest) xxxx;

(ž) ako se dogodi neka Materijalno štetna promena, u poređenju sa stanjem Zajmoprimca na datum zaključenja ovog ugovora; ili

(z) ako jeste ili postane nezakonito za Zajmoprimca da izvršava bilo koju od njegovih obaveza prema ovom ugovoru, ili ovaj ugovor nije punovažan u skladu sa svojim uslovima ili se tvrdi xx xxxxxx Zajmoprimca da je nevažeći, u skladu sa svojim uslovima.

10.1.B Zahtev nakon opomene o ispravci

Banka takođe može da postavi takav zahtev:

(a) ako Zajmoprimac ne ispuni bilo koju obavezu prema ovom ugovoru, osim onih navedenih u članu 10.1.A; ili

(b) ako se bilo koja činjenica u vezi sa Zajmoprimcem ili Projektom, navedena u Preambuli materijalno promeni i ne xxxxx xx u prethodno materijalno stanje i ako promena šteti bilo interesima Xxxxx xxx zajmodavca Zajmoprimcu, ili nepovoljno utiče na sprovođenje ili funkcionisanje Projekta,

osim ako je neispunjenje ili okolnost zbog koje xx xxxxx do neispunjenja moguće ispraviti u razumnom roku navedenom u obaveštenju Banke Zajmoprimcu.

10.2. Ostala prava po zakonu

Član 10.1 ne ograničava nijedno drugo pravo Banke po zakonu koji joj omogućava da zatraži raniju otplatu Zajma.

10.3 Odšteta

10.3.A Tranše sa fiksnom stopom

U slučaju zahteva po članu 10.1, u pogledu bilo koje Xxxxxx sa fiksnom stopom, Zajmoprimac plaća Banci traženi iznos, zajedno sa Obeštećenjem za prevremenu otplatu na bilo koji iznos glavnice dospele za prevremenu otplatu. Takvo Obeštećenje za prevremenu otplatu se obračunava od datuma dospeća za plaćanje, koji je naveden u zahtevu Banke i xxxx izračunato na osnovu prevremene otplate izvršene na navedeni datum.

10.3.B Tranše sa varijabilnom stopom

U slučaju zahteva po članu 10.1, u pogledu Tranše sa varijabilnom stopom, Zajmoprimac plaća Banci traženi iznos, zajedno sa iznosom jednakim sadašnjoj vrednosti od 0,15% (petnaest baznih poena) na godišnjem nivou koji se obračunava i pripisuje na iznos glavnice dospele za prevremenu otplatu na isti način kako bi se kamata obračunavala i pripisivala, da je taj iznos ostao neizmiren u skladu sa prvobitnim amortizacionim planom Tranše, do Datuma revizije/konverzije xxxxxx, ako postoji, ili do Datuma dospeća.

Takva sadašnja vrednost se izračunava po diskontnoj stopi jednakoj Stopi za prebacivanje koja se primenjuje na svaki odgovarajući Datum plaćanja.

10.3.V Opšte

Iznosi koji dospevaju Zajmoprimcu u skladu sa ovim članom 10.3 plativi su na datum prevremene otplate koji je naznačen u zahtevu Banke.

10.4 Neodricanje

Nijedan slučaj neostvarivanja ili odlaganja ili pojedinačnog ili delimičnog izvršenja xx xxxxxx Xxxxx u ostvarivanju bilo kojeg od njenih prava ili

pravnih lekova prema ovom ugovoru se ne tumače kao neko odricanje od takvog prava ili pravnog leka. Prava i pravni lekovi predviđeni ovim ugovorom su kumulativni i ne isključuju bilo koja prava ili pravne lekove predviđene zakonom.

11.1 Pravo

Član 11.

Pravo i sudska nadležnost, razno

Za ovaj ugovor merodavno je pravo Velikog Vojvodstva Luksemburg.

11.2 Sudska nadležnost

(a) Strane ovim putem prihvataju nadležnost Suda pravde Evropske unije da reši bilo xxxx xxxx koji nastaje iz ili u vezi sa ovim ugovorom (uključujući i spor oko postojanja, validnosti ili raskida ovog ugovora ili posledice njegovog poništavanja).

(b) Ugovorne strane se ovim odriču bilo kog imuniteta ili prava na prigovor na nadležnost Suda pravde Evropske unije. Odluka Suda pravde Evropske unije, u skladu sa ovim članom, je konačna i obavezujuća za svaku stranu bez ograničenja ili rezervisanja.

11.3 Mesto izvršenja

Osim ako nije posebno data drugačija saglasnost Banke u pisanoj formi, lokacija izvršenja finansijskih obaveza prema ovom ugovoru je sedište Banke.

11.4 Dokaz o dospelim iznosima

U bilo kojoj pravnoj radnji koja proističe iz ovog ugovora potvrda Banke za bilo koji iznos ili xxxxxx xxxx se duguje Banci prema ovom ugovoru predstavlja, u odsustvu očigledne greške, prima facie dokaz takvog iznosa ili xxxxxx.

11.5 Celokupan Ugovor

Ovaj ugovor predstavlja celokupan ugovor između Banke i Zajmoprimca u odnosu na odredbu Kredita u ovom ugovoru i zamenjuje bilo koji prethodni sporazum, bilo da je izričit ili prećutan, o istom pitanju.

11.6 Pravno nevaženje

Ako u bilo koje vreme bilo koji uslov ovog ugovora jeste ili postane nezakonit, pravno nevažeći ili nesprovodiv u bilo kom pogledu, ili ovaj ugovor jeste ili postane bez dejstva u bilo kom pogledu, prema zakonima bilo koje jurisdikcije, takva nezakonitost, pravno nevaženje, nesprovodivost ili nedostatak dejstva ne utiču na:

(a) zakonitost, valjanost ili sprovodivost u toj nadležnosti bilo kog drugog uslova ovog ugovora ili delotvornost u bilo kom drugom pogledu ovog ugovora u toj nadležnosti; ili

(b) zakonitost, valjanost ili sprovodivost u drugim nadležnostima tog ili bilo kog drugog uslova ovog ugovora ili delotvornost ovog ugovora prema zakonima takvih drugih nadležnosti.

11.7 Izmene i dopune

Bilo koja izmena i dopuna ovog ugovora xxxx sačinjena u pisanoj formi i potpisana od ugovornih strana ovog ugovora.

Član 12.

Završne odredbe

12.1 Obaveštenja obema stranama

Obaveštenja i druga saopštenja data prema ovom ugovoru, upućena bilo kojoj ugovornoj strani ovog ugovora, se šalju na adresu ili broj telefaksa navedene niže u nastavku, ili na drugu adresu ili broj telefaksa o xxxxxx xx jedna strana prethodno obavestila drugu u pisanoj formi:

Za Banku

Za: OPS/MA-3 PUB SEC (SI,HR,WBs)

000 xxxxxxxxx Xxxxxx Xxxxxxxx X-0000 Xxxxxxxxxx

Faksimil broj: x000 0000 00000

Za Zajmoprimca

Za: Ministarstvo finansija Kneza Miloša 20

11000 Beograd Republika Srbija

Faksimil broj: + 000 00 0000 961

12.2 Forma obaveštavanja

Bilo koje obaveštenje ili druga zvanična poruka data prema ovom ugovoru xxxx biti u pisanoj formi.

Obaveštenja i druge zvanične poruke, za koje su u ovom ugovoru propisani fiksni rokovi ili koja u sebi sadrže fiksirane rokove, obavezujuće za primaoca, mogu biti uručeni lično, preporučenom poštom ili telefaksom. Takva obaveštenja i zvanične poruke se smatraju primljenim xx xxxxx ugovorne strane na datum dospeća ličnim uručenjem, preporučenim pismom ili potvrdom o prijemu telefaksa.

Druga obaveštenja i zvanične poruke mogu biti uručeni lično, preporučenom poštom ili telefaksom ili, ukoliko se ugovorne strane o tome saglase u pisanoj formi, elektronskom poštom ili drugim oblikom elektronske komunikacije.

Bez uticaja na punovažnost bilo kog obaveštenja isporučenog telefaksom, prema stavovima xxxx, kopija svakog obaveštenja isporučenog telefaksom se takođe šalje i pismom odgovarajućoj strani, najkasnije prvog narednog radnog xxxx.

Obaveštenja izdata xx xxxxxx Zajmoprimca saglasno bilo kojoj odredbi ovog ugovora se, ako Banka to zahteva, dostavljaju Banci zajedno sa zadovoljavajućim dokazom o ovlašćenju jednog ili više lica ovlašćenih da potpišu takvo obaveštenje u ime Zajmoprimca i overenim uzorkom potpisa tog/tih lica.

12.3 Stupanje na snagu

Ovaj ugovor stupa na snagu nakon potvrde xx xxxxxx Xxxxx Zajmoprimcu da je primljena overena kopija Službenog glasnika Republike Srbije u xxxx xx objavljen Zakon o potvrđivanju ovog ugovora xx xxxxxx Narodne skupštine Republike Srbije.

12.4 Uvodne odredbe, prilozi

Uvodne odredbe i prateći prilozi čine deo ovog ugovora:

Prilog A	Sažeti opis Projekta
Prilog B	Definicija EURIBOR-a
Prilog V	Obrasci Ponude za isplatu/Xxxxxxxxx (čl. 1.2.B i 1.2.V)
Prilog G	Revizija i konverzija xxxxxx
Prilog D	Dokazi koje obezbeđuje Zajmoprimac

U POTVRDU XXXX NAVEDENOG, ugovorne strane potpisuju ovaj ugovor u 6 (šest) originalnih primeraka na engleskom jeziku.

U Beogradu, 31. januara 2018. godine

Potpisano za i u ime REPUBLIKE SRBIJE

Ministar finansija

Xx Xxxxx Xxxxxxx, x.x.

Potpisano za i u ime EVROPSKE INVESTICIONE BANKE

Potpredsednik

Xxxxx Xxxxxxxxxxx, x.x.

Svrha, lokacija

Sažeti opis Projekta

Prilog A

Projekat se sastoji od rekonstrukcije i modernizacije postojeće jednokolosečne pruge Sićevo - Dimitrovgrad, uključujući obnovu i modernizaciju infrastrukture, elektrifikaciju i modernizaciju signalizacije i izgradnju jednokolosečne obilaznice severno od grada Niša.

Konkretno, projekat čine sledeće četiri Komponente:

1. Deonica Sićevo - Dimitrovgrad, građevinski radovi na rekonstrukciji i modernizaciji i kolosek, pripremni radovi za elektrifikaciju i signalizaciju;

2. Severna obilaznica oko grada Niša, izgradnja nove jednokolosečne elektrifikovane pruge;

3. Deonice Crveni Krst – veza sa obilaznicom i Sićevo – Dimitrovgrad, elektrifikacija i signalizacija; i

4. Usluge projektovanja, nadzor nad izvođenjem radova xx xxxxxx trećih lica i podrška u realizaciji uz pripremu budućih projekata.

Opis

Radovi će obuhvatati:

 Komponente 1 i 3:

o demontaža postojećeg koloseka i signalizacione opreme;

o obnova trupa pruge, modifikacija podužnog profila i poprečnog preseka, tamo gde je to neophodno;

o produžetak korisne dužine stanica, 7 stanica na 660 m i 2 stanice na 750 m;

o obnova postojećih i izgradnja novih građevinskih objekata;

o izgradnja drenažne mreže;

o polaganje novog koloseka;

o postavljanje nove kontaktne mreže, 25kV 50Hz;

o izgradnja 2 nova elektrovučna postrojenja, uključujući napajanje od 110 kV sa distributivne mreže i integraciju elektrovučnih postrojenja u sistem daljinskog upravljanja u stanici Niš;

o ugradnja signalne opreme u stanicama i blokovima (postavnice će biti elektronske

- solid state - i podobne za dalju instalaciju ETCS-a), centralne prostorije CTC-a (centralno upravljanje saobraćajem) u stanici Niš;

o ugradnja telekomunikacione opreme;

o modernizacija i unapređivanje opreme putnih prelaza na deonicama Sićevo- Dimitrovgrad i Niš-Crveni Krst;

o modernizacija postojećih i izgradnja novih xxxxxx i ugradnja relevantne opreme; i

 Komponentu 2:

o izgradnja trupa pruge;

o izgradnja građevinskih objekata;

o polaganje koloseka;

o izgradnja dve stanice korisne dužine 750m;

o postavljanje kontaktne mreže, 25kV 50Hz;

o ugradnja signalne opreme u stanicama i blokovima (postavnice će biti elektronske

- solid state - i podobne za dalju instalaciju ETCS-a), centralne prostorije CTC-a (centralno upravljanje saobraćajem) u stanici Niš;

o ugradnja telekomunikacione opreme;

o svi privremeni radovi neophodni da bi se obezbedila eksploatacija pruge tokom izvođenja radova uz odgovarajući nivo bezbednosti, raspoloživosti i pouzdanosti.

U celini, Projekat obuhvata:

Kolosek i kontaktna mreža
	Novoizgrađeni trup pruge	22 km pruge
	Modernizacija trupa pruge	82 km pruge
	Novopostavljeni ili obnovljeni kolosek (dužina koloseka)	104 km na 108 km pruge
	Novopostavljena ili obnovljena kontaktna mreža (dužina koloseka)	108 km iznad 108 km pruge
Građevinski objekti
	Železnički mostovi (novoizgrađeni ili rekonstruisani)	8
	Drumski nadvožnjaci (novoizgrađeni ili rekonstruisani)	3
	Drumski podvožnjaci (novoizgrađeni ili rekonstruisani)	12
	Pešački nadvožnjaci (novoizgrađeni ili rekonstruisani)	0
	Pešački podvožnjaci (novoizgrađeni ili rekonstruisani)	0
	Prelazi za životinje	0
	Propusti	163
Signalizacija
	Postavnice	13
	CTC prostorije (dogradnja postojećih)	1
Putni prelazi
	Modernizovani putni prelazi	0
	Modernizovani putni prelazi (bez promene kategorije)	29
Putničke stanice ili stajališta
	Novoizgrađene putničke stanice ili stajališta	4
	Modernizovane putničke stanice ili stajališta	21
	Novoizgrađeni peroni / xxxxx xxxxxx	35

Modernizovana infrastruktura će se koristiti za mešoviti saobraćaj, putnički i teretni. Glavne karakteristike modernizovanih pruga će biti kao što sledi:

Maksimalna brzina	80-120 km/h (u skladu sa karakteristikama postojeće trase na deonici Sićevo-Dimitrovgrad), 100-160 km/h na severnoj obilaznici oko grada Niša
Osovinsko opterećenje	22,5 t
Profil	UIC-GC
Maksimalna dužina vozova	660m/750m na deonici Sićevo-Dimitrovgrad, 750m na severnoj obilaznici oko grada Niša
Kapacitet	46 pari na xxx
Dužina xxxxxx	110m-400m na deonici Sićevo-Dimitrovgrad, 150m-247m na severnoj obilaznici oko grada Niša

Kalendar

Radovi na Projektu će biti završeni u skladu sa sledećim okvirnim kalendarom realizacije:

4. Sićevo – Dimitrovgrad – građevinski radovi i kolosek

Treći kvartal 2020.

5. Obilaznica

Četvrti kvartal 2023.

6. Niš - Dimitrovgrad, elektrifikacija i signalizacija

 Sićevo-Dimitrovgrad

 Crveni Krst – veza sa obilaznicom

Prvi kvartal 2022.

Drugi kvartal 2023.

EURIBOR

„EURIBOR” označava:

Definicije

Prilog B

a) u odnosu na relevantni period kraći od jednog meseca, objavljena xxxxx (u skladu s xxxx navedenom definicijom) za rok od jednog meseca;

b) u odnosu na relevantni period od jednog ili više meseci za koji je raspoloživa objavljena xxxxx, primenljivu objavljenu stopu za odgovarajući broj meseci; i

v) u odnosu na relevantni period od jednog ili više meseci za koji objavljena xxxxx nije raspoloživa, objavljena xxxxx dobijena linearnom interpolacijom iz dve objavljene stope, od kojih se jedna primenjuje na prvi period kraći od relevantnog perioda, a druga na prvi period duži od relevantnog perioda,

(pri čemu je datum na koji xx xxxxx uzima ili iz kojeg se stope interpoliraju

„reprezentativni period”).

U smislu stavova (b) i (v) ovog člana:

„raspoloživ” označava stope, za data dospeća, koje su izračunate i objavljene xx xxxxxx Global Rate Set Systems Ltd (GRSS) ili bilo kog drugog dobavljača usluga izabranog xx xxxxxx European Money Markets Institute (EMMI), pod pokroviteljstvom EMMI EURIBOR ACI ili bilo kog naslednika te funkcije EMMI i EURIBOR ACI kojeg odredi Banka, i

„Objavljena xxxxx” je kamatna xxxxx xx depozite u evrima za relevantni period objavljena u 11.00 časova po briselskom vremenu ili u kasnije vreme prihvatljivo za Banku na datum (u daljem tekstu: „datum utvrđivanja”) koji pada 2 (dva) relevantna xxxxx xxxx pre prvog xxxx relevantnog perioda na stranici Reuters EURIBOR 01 ili na stranici xxxx xx zamenjuje ili, ako nije objavljena tamo, objavljena bilo kojim drugim sredstvom objavljivanja koje u tu svrhu izabere Banka.

Ako takva xxxxx nije objavljena na navedeni način, Xxxxx xx zatražiti od glavnih poslovnica četiri prvorazredne banke u evrozoni koje odabere Banka da navedu stopu po kojoj svaka od njih u približno 11.00 časova po briselskom vremenu na datum utvrđivanja nudi depozite u evrima u uporedivom iznosu prvorazrednim bankama na međubankarskom tržištu evrozone za period jednak reprezentativnom periodu. Ako su dostavljene najmanje 2 (dve) kotacije, xxxxx za xxx datum utvrđivanja izračunava xx xxx aritmetička sredina kotiranih xxxxx.

Ako su na zahtev dostavljene manje od 2 (dve) kotacije, xxxxx za xxx datum utvrđivanja se izračunava kao aritmetička sredina xxxxx koje navedu prvorazredne banke u evrozoni koje odabere Banka u približno 11.00 časova po briselskom vremenu na xxx koji pada 2 (dva) relevantna radna xxxx xxxxx datuma utvrđivanja, za zajmove u evrima u uporedivom iznosu koje odobravaju vodećim evropskim bankama za period jednak reprezentativnom periodu.

Ako xxxxx određena u skladu s xxxx navedenim nije dostupna, EURIBOR će biti xxxxx (izražena kao procentualna xxxxx xx godišnjem nivou) koju Banka odredi kao sveukupni trošak Banke za finansiranje odgovarajuće tranše na osnovu tada primenljive interno generisane referentne stope Banke ili xxxxx određena alternativnim metodom određivanja stope xxxx Xxxxx odredi.

OPŠTI DEO

U smislu xxxx pomenutih definicija:

a) Svi procenti koji proizilaze iz bilo kakvih proračuna u skladu sa ovim prilogom xxxx zaokruženi, ako je to potrebno, na najbliži stohiljaditi procentni poen, dok se polovine zaokružuju naviše;

b) Xxxxx xx bez odlaganja obavestiti Zajmoprimca o kotacijama koje Banka primi;

v) Ako bilo koja od prethodnih odredbi postane neusklađena sa odredbama usvojenim pod pokroviteljstvom EMMI i EURIBOR ACI (odnosno bilo kog naslednika te funkcije EMMI i EURIBOR ACI kojeg odredi Banka) u pogledu EURIBOR-a,

Banka može putem dostavljanja obaveštenja Zajmoprimcu izmeniti i dopuniti odredbe da bi ih uskladila sa drugim takvim odredbama.

Prilog V

Obrazac Ponude za isplatu/Prihvatanje (čl. 1.2.B i 1.2.V)

Za: Republika Srbija

Od: Evropska investiciona banka Datum:

Predmet: Ponuda za isplatu/Prihvatanje za Finansijski ugovor između Republike Srbije i Evropske investicione banke od • („Finansijski ugovor″)

FI broj 86763 SERAPIS broj 2016-0341

........................................................................................................

Poštovani,

Pozivamo se na Finansijski ugovor. Uslovi definisani u Ugovoru o finansiranju imaju isto značenje kada se koriste u ovom pismu.

Nakon vašeg zahteva za Ponudu za isplatu xx Xxxxx, u skladu sa članom 1.2.B Finansijskog ugovora, ovim nudimo da vam učinimo raspoloživom sledeću Tranšu:

a) Komponentu/e koje treba finansirati:

b) Xxxxxx i iznos xxxx xxxxx isplatiti i ekvivalentan iznos u EUR:

v) Zakazani datum isplate:

g) Osnovica kamatne stope:

d) Period plaćanja xxxxxx:

đ) Datumi plaćanja:

e) Uslovi otplate glavnice:

ž) Datum prve i poslednje otplate glavnice:

z) Datum revizije/konverzije xxxxxx:

i) Fiksna xxxxx ili Raspon, primenljivi do Datuma revizije/konverzije xxxxxx, ukoliko postoji, ili do Datuma dospeća

Kako bi se Tranša učinila raspoloživom podložno uslovima i odredbama Finansijskog ugovora, Banka mora da primi Obaveštenje o prihvatanju Tranše u obliku kopije ove Ponude za isplatu propisno potpisane u vaše ime, na sledeći broj faksa [] najkasnije do Krajnjeg roka za prihvatanje isplate po luksemburškom vremenu u [vreme] xxxx [datum].

Prihvatanje ponude xxxx biti praćeno (ukoliko prethodno nije dostavljeno) sledećim:

(i) Navođenjem bankovnog računa (sa IBAN šifrom u slučaju isplate u EUR ili odgovarajućim formatom za relevantnu valutu) gde se vrši isplata Tranše; i

(ii) Dokaz ovlašćenja lica ili osoba ovlašćenih da potpisuju u ime Zajmoprimca i uz karton deponovanih potpisa svakog lica.

Ukoliko ne bude prihvaćena do xxxx navedenog datuma, ponuda sadržana u ovom dokumentu smatraće se odbijenom i automatski će isteći.

Ukoliko prihvatite Xxxxxx xxxx xx opisano u Ponudi za isplatu, svi odnosni uslovi i odredbe Finansijskog ugovora se primenjuju, a posebno odredbe člana 1.4.

S poštovanjem,

EVROPSKA INVESTICIONA BANKA

Ovim prihvatamo xxxx navedenu Ponudu za isplatu:

Za i u ime Republike Srbije Datum:

Prilog G

Revizija i konverzija xxxxxx

Ukoliko je Datum revizije/konverzije xxxxxx sadržan u Ponudi za isplatu Tranše, primenjuju se sledeće odredbe:

A. Mehanizmi Revizije/konverzije xxxxxx

Nakon prijema Zahteva za reviziju/konverziju xxxxxx Xxxxx xx, tokom perioda koji počinje da teče 60 (šezdeset) xxxx i završava se 30 (trideset) xxxx pre Datuma revizije/konverzije xxxxxx, dostaviti Zajmoprimcu Predlog revizije/konverzije xxxxxx u kojem će navesti:

(a) Fiksnu stopu ili Xxxxxx xxxx bi se primenio na Tranšu ili njen deo navedenu u Zahtevu za reviziju/konverziju xxxxxx u skladu sa članom 3.1; i

(b) da se takva xxxxx primenjuje do Datuma dospeća ili do novog Datuma revizije/konverzije xxxxxx, ukoliko postoji, i da je xx xxxxxx plativa kvartalno, polugodišnje ili godišnje u ratama na naznačene Datume plaćanja.

Zajmoprimac može da prihvati u pisanoj formi Predlog revizije/konverzije xxxxxx do krajnjeg roka koji je u njoj naveden.

Bilo koja izmena i dopuna ovog ugovora koju Banka zahteva u vezi sa ovim xxxx sprovedene sporazumom koji se zaključuje najkasnije 15 (petnaest) xxxx pre odgovarajućeg Datuma revizije/konverzije xxxxxx.

B. Efekti Revizije/konverzije xxxxxx

Ukoliko Zajmoprimac propisno prihvati u pisanoj formi Fiksnu stopu ili Raspon u pogledu Predloga Revizije/konverzije xxxxxx, on će platiti pripadajuću kamatu na Datum Revizije/konverzije xxxxxx, a nakon toga na naznačene Datume plaćanja.

Pre Datuma Revizije/konverzije xxxxxx, odgovarajuće odredbe ovog ugovora i Ponude za isplatu i Obaveštenja o prihvatanju isplate primenjuju se na celokupnu Tranšu. Od i uključujući Datum Revizije/konverzije xxxxxx pa nadalje, odredbe sadržane u Predlogu Revizije/konverzije xxxxxx koje se odnose na novu kamatnu stopu ili Raspon primenjuju se na Tranšu (ili njen deo) do novog Datuma Revizije/konverzije xxxxxx, ukoliko postoji, ili do Datuma dospeća.

V. Neizvršavanje Revizije/konverzije xxxxxx

Ukoliko Zajmoprimac ne podnese Zahtev za Reviziju/konverziju xxxxxx ili ne prihvati u pisanoj formi Predlog Revizije/konverzije xxxxxx za Tranšu ili ukoliko ugovorne strane ne izvrše izmenu na zahtev Banke u skladu xx xxxx navedenim stavom A, Zajmoprimac će otplatiti Tranšu (ili njen deo) na Datum Revizije/konverzije xxxxxx, bez obeštećenja. Zajmoprimac će otplatiti na Datum Revizije/konverzije kamate bilo xxxx xxx Tranše koji nije obuhvaćen Revizijom/konverzijom xxxxxx.

Prilog D

Obrasci koje obezbeđuje Zajmoprimac

D.1. Obrazac potvrde Zajmoprimca (član 1.4.B)

Za: Evropska investiciona banka Od: Republika Srbija

Datum:

Predmet: ŽELEZNIČKA PRUGA NIŠ – DIMITROVGRAD Finansijski ugovor između Republike Srbije i Evropske investicione banke od • („Finansijski ugovor”)

FI broj 86763 SERAPIS broj 2016-0341

Poštovani,

Uslovi definisani u Finansijskom ugovoru imaju isto značenje kada se koriste u ovom pismu.

U svrhe člana 1.4 Finansijskog ugovora ovim putem vam potvrđujemo kako sledi:

(a) nikakav slučaj prevremene otplate kredita nije se dogodio i ne nastavlja se neotklonjen;

(b) nije bilo nikakve materijalne promene u pogledu bilo kog aspekta Projekta koji smo u obavezi da prijavimo prema članu 8.1, osim xxxx xx prethodno saopšteno s naše strane;

(v) imamo dovoljno sredstava na raspolaganju da obezbedimo pravovremeni završetak i sprovođenje Projekta u skladu sa Tehničkim opisom;

(g) nikakav događaj ili okolnost koji predstavljaju, ili bi protokom vremena ili davanjem obaveštenja prema Finansijskom ugovoru predstavljali, Slučaj neispunjenja obaveza nije se dogodio i ne nastavlja se neotklonjen ili bez odricanja od istog;

(d) nikakva parnica, arbitraža, upravni postupak ili istraga nije u toku niti je, prema našem znanju zaprećena ili nerešena pred bilo kojim sudom, arbitražnim telom ili agencijom, xxxx xx dovela ili bi u slučaju negativnog ishoda mogla da dovede do Materijalno štetne promene, niti protiv nas ili naših zavisnih pravnih lica postoji bilo kakva sudska presuda ili odluka koja nije u našu korist;

(đ) izjave i garancije koje xxxxx xx xxxx ili ponovimo prema članu 6.5 su istinite u svakom pogledu; i

(e) nikakva Materijalno štetna promena se nije dogodila, u poređenju xx xxxxx položajem na xxx zaključivanja Finansijskog ugovora.

S poštovanjem,

Za i u ime Republike Srbije Datum:

Član 3.

Ovaj zakon stupa na snagu osmog xxxx od xxxx objavljivanja u „Službenom glasniku Republike Srbije – Međunarodni ugovori”.

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