NEGATIVE UNDERTAKINGS. The Recipient will not enter into any transactions or engage in any other activities in relation to the Programme that would constitute a breach of Sanctions. Ministry of Labour, Employment, Veterans and Social Affairs Nemanjina 22-26 11000 Belgrade Serbia Public Investment Management Office Nemanjina 11 11000 Belgrade Serbia KfW Development Bank Xxxxxxx Xxxx Our ref.: BhSa Phone:+00 00 0000-0000 Fax:+00 00 0000-0000 xxxxxxx.xxxx@xxx.xx Dear Sir or Madam We refer to the Financing Agreement entered into between the Republic of Serbia, represented by the Ministry of Labor, Employment, Veterans and Social Affairs (“MoLEVSA”) and KfW (“KfW”) dated 09.11.2016 (the “Original Financing Agreement”), as amended and restated by the Amendment and Restatement Agreement relating to the Original Financing Agreement, signed between the Republic of Serbia, represented by MoLEVSA and Public Investment Management Office (“PIMO”), and KfW on Unless a contrary intention appears, capitalized terms defined in the Restated Financing Agreement and/or in the Original Separate Agreement have the same meaning in this letter. With effect from the date of this letter the Original Separate Agreement shall be amended and restated so that it shall be read and construed for all purposes as set out in the Annex. The provisions of the Original Separate Agreement shall, save as amended by this letter, continue in full force and effect. This letter does not amend any other provision of the Original Separate Agreement other than explicitly provided for under this letter. This letter is governed by and construed in accordance with German law. Please acknowledge your agreement with the terms and conditions of this letter by signing in a legally binding form where indicated below and returning an original to KfW. Yours sincerely, KfW In accordance with the Restated Financing Agreement entered into between the Republic of Serbia (the “Recipient”) represented by the Ministry of Labour, Employment, Veteran and Social Affairs ("MoLEVSA”) and Public Investment Management Office (“PIMO”), and KfW ("KfW") dated the roles and responsibilities of MoLEVSA and the Public Investment Management Office (“PIMO”) in the implementation of the Programme; the details of the Programme as well as the goods and services to be financed from the Financial Contribution; the disbursement procedure, in particular the evidence proving that the disbursed financial contribution amounts are used for the stipulated purpose; the...
