Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698839669361.pdf (Sierra Leone)
ra Dc- 3 i <Pt i I I {e B IGti BI ..rB I|g IBI I I I I @l I :E I li"dll : -€i {B ,:- r(9 I t it R Ir{ + r.e I v-e!

'- I DOLLAR CREDIT LINE AGREEMENT DATED AUGUST II,2016 BETWEEN GOVERT\MENT OF THE REPUBLIC OF SIERRA LEONE I I @ @ BI !

iei AND LE I I EXPORT-IMPORT BANK OF INDIA DLOCA-Fixed Rate.l 10816 I @l l€ I@ I I @ le ,t:(fl \\ l b{ aNt 5t ,\* A(1 t:T i &_\!

'i "gl=i# I I I I @ -..- 'a,,r -aiB- i - c€ -e=]--@--,e:--B-_@:B--@ -B--tr€l.-@ @--B--@--LB--[B Ia Clause No.
Particulars INDEX Definitions Amount of the Credit Eligibility ofContract to be financed out of the Credit Disbursements out of the Credit Interest Repayment Commitment Fee Default Interest Conditions Precedent Anti-Comrption Law Integdty General Conditions to form part of Credit Agreement 1 2 J 4.

5.

6.

7, 8. o 10.

11.

12.


SCIIEDULE General Conditions AT${EXURES Annexure I Guidelines for Bidding and Procurement Procedures Annexure II Armexure III Annexure IV Annexure V Format of Contract Approval Format of Payment Authorisation Format oflegal opinion oflegal Counsel ofthe Borrower witJr respect to the Credit Agreement Format of Authentication ofSpecimen Signature I (<1 I il I !

?ar I I ri@l I t -=2i i iial ra< \51 -L-l -i: DLOCA.Fixed Rate.

I 10816 -l- t llt 0iitfr!e 2/,.


:ll ry" r,9\ \ -.€ i -:.. =el i>, !

: -.=)- :S:] I ::::.)

; aa.

-l)=J at i I €- I 'a- _:, La- =',i : ?a- l dt I !

j-t i i f@' i a I I (9t -l a)l2l l JrEi ial I Lqsl @l I I : 1 -=i ,,al -t3 ia,'.=) '={, e -(51 l l I .\>- i r_>J i !

I IeI t- I I iizai i l -i_€: i -d!

B Ig I I BI Le I I re 'rAl I I -Bl I ,::e] i I I Ie] @l Ig i @l rg, Iret I[3 I I B B] rg I I I I !
LE BI BI I I t;,51 Igj ie ltri IZ5l LC€ r(g I Ie,l I I '!B @ I iE)r I t I @l IB I @.i THIS AGREEMENT made as of I le day of Augus!

2016 between the Government of The R.epublic of Sierra Leone represented herein by H.E.
Mr. Momodu L. Kurgbo, Minister of Finance and Economic Dcvelopment, Government of the Republic of Sierra Leone (hereinafter referred to as "the Borrower" which expression shall, unless the context or subject otherwise requires, include its successors and pemritted assigns) of the One Part and EXPORT-IMPORT BANK OF INDIA' a corporation established under the Export-Import Bank of India Act, 1981 (an enactrtreot by the Parliament of India) and having its Head Office at Centre One Building, l:loor 21.
World Trade Centre Complex, Cufle Parade, Mumbai-400 005, India (hereinafter referred to as I'Exim Bank", which expression shall, unless the context or subject otherwise requires, include its successors and assigrs) of the Other Part WHEREAS: (D it has been agreed between the parties hereto for the provision by Exim Bank of a Credit to the Borrower upto an aggregate sum of $ 78,000,000 @ollars Severity Eight Million Only) for the purpose of financing Transmission line and Substation, in the Borrower's Country; (ii) the parties hereto are desirous of recording the terms and conditions of the Credit.
I,-i DLOCA-Fixed Rate.

I 10816 2 {i t t 1ff.0N:rli -rxr- *-tt.,--.-.-.-'.

1B +l € € € I I I ,LE I r-et JeiI B B B Ie @ @ BI I I i ,@ !

I @ Ie @ I I @ I { @i rgI IieI @ I I I @ !BI IBI @ I @ @ @ @ @ I @ @ I I I I I I i I I I I I I ,@ I @l i I I @ @ NOW THEREFORE IT IS HEREBY AGREED by and between Exim Bank and the Borrower as follows:- 1.
Definitions: In this Agreement and in the Schedules hereto, unless the context shall otherwise require, the following expressions shall have the meanings respectively assigned to them as under :- "Advance' meaas each disbursement of a portion of the Credit in accordance with Clause 4 hereof, or as the context may require, the principal amount thereof outstanding; *Borrower's Country' means Republic of Sierra Leone; "Business Day" means any day on which Exim Bank and banks (as applicable) shall remain open for business in Mumbai, Freetown (Sierra Leone), New York, and London for the purpose contemplated by the Agreement; *Buyer'means a buyer in the Borrower's Country in relation to an Eligible Contract; (Consultant / Project Management Consultant (PMC)" means the Indian consultant being appointed by the Borrower for preparation of DP& procurement of goods, project management as per the specified needs of the Borrower's Country and to carry out any other consultancy services for the Project; "Credit' means the whole or any part of the Credit referred to in Clause 2 hereof, and where the context so requires, the principal amount thereof outstanding liom time to time; (Detailed Project Report" or 'DPR- means the report forming the basis for grant of the Credit prepared in terms of extant guidelines isswd by the Govemment of India; "Dollars" and the sign "$" mean the lawful currency of the United States of America; sEffective Date of the Agreement" means the date on which this Agreement I I I @ @ @ IBI @ I I i @l !BI @ I @ @ I I i I I BJ rat I I I @ IrsI LE I @ i I I I I @J (el I i @ -!-lrG?l I I I I 'erI t(-e] I Iie tr r. B tel I i become effective in terrus of Clause 9.1 hereof; ffi6;tdt ew' DLOCA-Fixed Ratc.
I l0El6 3 --G3-B--@:ei--LaJ--B--.8--B--@--@-te_i--iei--gqil -,,",,'.n ...

-/..11.
*.L i'.i1i+".-..'""" I @--ci-B--@-@--@I--@_-@--@-B--@--@--r!a- @i--T=B- B--,9__B--@' - IB Ul "Eligible Contract" means a contract as is considered eligibie under Clause 3 hereofto be financed out of the Credit; *Eligible Goods and Services" in respect of an Eligible Contract melrns any goods including plant, machinery and equipment, and services including consultancy services for the purpose of financing Transmission line and Substation in the Borrower's Country to be exported from India to the Borrower's Cormtry, which may be agreed to be financed by Exim Bank under this Agreement, out of which goods and services of the value ofat least 75% of the contract price shall be supplied by the Seller from India, and the remaining 25%o ofgoods aad services may be procured by the Seller for the purpose of the Eligible Contract from outside India; "Eligible Value' means, in respect of an Eligible Contract, an amount upto 100% (one hundred per cent) of the FOB (free on board/CFR (cost & freight)/ClF (cos!
insurance & freight/CP (carriage and insurance paid to) contmct price of the Eligible Contract, that may be made available by Exim Bank to the Borrower out of the Credit in respect of that contract; 'Events of Default" means any of the events mentioned in Section K.l of the General Conditions or any event which with the giving ofnotice and/or lapse of time and/or fi:lfilrnent of any other requirement may become one of the events mentioned in that Section; "FOB/CFR/CIF/CIP" means the seaway shipment tems as defined in Incotemrs 2000; "General Conditions" means the terms, conditions, covenaots, stipulations and other provisions set out in SCHEDULE hereto which form an integral part of this A$eement and be deemed to be incorporated herein by reference; .Interest Payment Date" means each of the two dates during each calendar year that may be advised by Exim Bank to the Borrower after approval of the firct contract hereunder, on which interest and other payments in terms of this Agreement shall be payable by the Borrower; *Interest Period' means, in relation to an Advance or the Credi!
as the case may be, the period asce(ained in accordance with Section C of the General Conditions; (Interest Rate" means one point fwe zero per cent (1.50%) per annum at which interest shall be chargeable by Exim Bank on each Advance, or as the case may be, on the outstanding amount ofthe Credit; .a t: t.l 1::8 ,ITCOIO /'$F- @l I K3 I I i-el i I I I l(cl el ;e] r75i I elI IBIBI iBI @ BI '(BI I I I i L@j !
I @l I B} t(B I I @l I l I I i I I @l 6tL\>j (=t BI Ir€l IBI ,t6t Ile @ IBI @l )..: i I I DLOCA-Fixed Ratc.

I l0E16 ,1 --Gl- @ iei - - trl- - @l - -rel -Le - - ie- - @- - \ r\.,olrE_ 1.,: ( :.11:1 .

--,; @--t(e I I I IBI @ IBI IeI @ ran I I I I I IBI @ @ @ I l I I 1 @ l I @ IBI G] iB I I (61 I elI IB IB @ i K@l i I @l B @ I@ I I i I i @ IBI Itrl 16l g--'e *le- i..B--B__@--@_.

@--@l__@__@:@--ei--@--KB:@--@--B--@:@ €.

,-=.. 1((:a 6.rI I tsl @l I I .


':.Yr a,1 =21 l -r5l i I @ I I t\5, I 5l @ ial i =51i A' I ; !

@l i zt:'2i tfta- lei 6r i -| I t@ @i B I @) I L5J I (e)t !
,rel B @ I @ r,B l.i il "Issuing Bank" means a bank in the Borrower's Country which shall in that capacity be issuing letters of credit referred to in Clause 3.1 (d) hereof; *Negotiating Bank' means Exim Bank to which documents shall be presented by the Seller for negotiation under letters of credit and through which payment shall be made to the Seller in relation to an Eligible Contract; 'Payment Authorisation' means the authorisation to be issued by the Borrower to Exim Bank as provided in Clause 4.B, inevocably authorizing Exint Bank to make payment of the sum therein mentioned to the account of the Seller, whenever a payment needs to be made to the Seller under an Eligible Contact for advance payment and / or for supplies made/services rendered by the Seller in the Borro*,er's Country and payment of retention money under the Eligible Contract; (Project'means the project including supply of Eligible Goods and Services for w'hich Exim Bank has agreed to make available the Credit, and the description thereof may be amended from time to time by agreement between the Borrower and Exim Bank; '(Repaymeut Date" means, the due date of payment of each instalment of the Credit; *Seller" means a seller in India in relation to an Eligible Contract and shall include Consultant / PMC; *Shipment'means any mode of despatch, whether by sea or otherwise, agre€d between the Seller and the Buyer; 'Terminal Disbursement Date' means the date falling on expiration of a period of60 (sixty) months after the scheduled completion date of the Project.
2, Amount of the Credit: Exim Bank agrees to extend to the Borrower and the Borrower agrees to avail from Exim Bank a Credit of $ 78,000,000 (Dollars Seventy Eight Million only) to finance purchase of the Eligible Goods and Services upto the Eligible Value of each Eligible Contmct on the tems and conditions herein set out.

3.
3.

[,lisibilifv of tract to be financed out of the Cred 3.1 r\ contract shall not be eligible to be financed out ofthe Credit unless:- (a) it is for the import of the Eligible Goods and Services into the Borrower's Country and in the case of any contract which ffi DLOCA-Fixed R.1re.

I loEl6 I 5 I I er--e- re- lel -le -Bi--B-r@--@__B--B*l-(€J--@ '!

@ I I .

{.5f I @l I (41 e s, l ; r.Ql I iia '/';-t.--t 6 -t- .,'a' S] I l--51 i!_>l :,--l Ial i _=.1--' [5, ::>j i I @ -i=; ==.
l l- I r,a+t includes rendering of consultancy services, it provides for sourcing consultancy services from India; the contract price is specified in Dollars and is not less than $50,000/- (Dollars fifty thousand only) or such amount as may from time to time be agreed upon between the Borrower and Exim Bank; the Bonower has conducted a transparent, non-discriminatory and fair bidding process for selection of the Seller for execution of the contract as per Guidelines for Bidding and Procurement Procedures given at Annexure I.
The Borrower has ensured that the tenderirg process for selection of Indian suppliers on the basis of product specifications ,/ eligibility criteria has been developed by the Bonower in consultation with Exim Bank to make the tendering process fair and competitive.
The Borrower has also provided a confirmation to Exim Bank to the effect that the Seller has been selected by the Borrower through a competitive bidding process along with details of the procedures adopted for selection of the Seller including the price bids received, the weightages and other relevant criteria adopted in the frnal selection of the bids; the contact requires the Buyer to make payment to the Seller of 100% (one hundred per cent) of FOB/CFR/CIF/CIP contract price of the Eligible Goods excluding Services, pro-rata against shipments, to be covered under an irrevocable letter of credit in favour ofthe Seller; the Borower hereby confirms to Exim Bank that the Eligible Goods and Services shal!
be exempt from all kinds of taxes and duties of any natue whatsoever levied in tle Borrower's Country including all corporate/personaVvalue added taxes, import/custom duties, special levies and social security contributions for temporary employees deputed by the Seller in relation to the execution of the contract in the Borrower's Country; in the case of services to be rendered by a Seller in the Borrower's Country, or where the contract requires advance payment to be made by the Buyer to the Seller which needs to be financed out ofthe Credit, the conhact provides for the Buyer to cause the Borrower to issue a Payment Authorisation to Exim Bank to enable the Seller to claim payment from Exim Bank of the Eligible Value apportionable to the amount of invoice for TE iilc0N0 4ts trl I Y,, 6 +Lts.-**-----.
I (b) (c) (d) (e) (f) m \,"x,, DL.OCA-Fixed Rate.

I loEl6 @*ie--@--tt*_.-eJ- € ii'--.- E] I 'a.E)-' I I I [@l e (cqi I el I -:\-.._-i I' (e!

I I aE I I 5i I ,e-- :+): I rr(R1 i I I I.I€l l Lei l (e' -i-I I I .
*F,i i- t: @--ueJ--B--@--@--@J--@--@__B-@-Lej--@r--rfB--@:B:@-@--P I!e K-c I @ I t€r Kg @l I I L(€ @ I @ lB such services or, as the cnse may be, the amount of advance payment; (g) the contract contains a provision that the Eligible Goods and Services shall be inspected before shipment on behalf of the Buyer and the documents to be fumished by the Seller to the Negotiating Bank under the letter of credit arftugement referred to in sub-clause (d) herein shall include an inspection certificate; (h) the contract also contains a provision to the effect that Exim Bank shall not be liable to the Buyer or the Seller for not being able to finance purchase of the Eligible Goods and Services or any ponion thereof by reason of suspension or cancellation of any undrawn amount of the Credit in terms of this Agreement; (i) 0) (k) the Borrower has sent to Exim Bank brief details of the contract in the format at Annexure II and such other documents and information as Exim Bank may require in this behalf, and Exim Bank has, in writing, conveyed inclusion of the contract under the Credit indicating the Eligible Value thereof; the contract contains a procurement plan, atr operational plan and suitable safeguards for ensuring sustainability and maintenance ofthe Project during the life of the Project.
the contract has been concluded within eighteen months from the date of this Agreement; 3.2 Details of any amendment to an Eligible Contract agreed to by the parties thereto shall also be fumished by the Bonower to Exim Bank alongwith evidence of approval of the amendment by the Borrower.
Provided, however, that Exim Ban_k,s approval hereunder may not be necessary if such amendment is on.ly a variation of technical specifications of the Eligible Goods and Services to be supplied under the contract that does not involve a material change in thi scope or object of the contract/ payment terms.

The Borrower shall, nevertheless, advise Exim Bank of any such amendment.
Disbursements out of the Credit; 4.A Eligible Goods and Services covered by letters of credit: ,t.A.i AX letters of credir in pursuance of Clause 3.1 (d) hereofshall be opened by the Issuing Bank in favour of the 5"11"1 yelthin such period pnor to the relevant Terminal Disbursement Date 4. m\vHz, 1 tiAT E---..'-''' 6' il+ DLOCA-Fixcd Ratc.

I t0816 7 _€- BI I I I i l(c<l i,-' @ Ig @ IBI IBI IBI @ I !
B1 I @ @ I I @ I I T@ @ I I I I @l I I @ I,B I I @l IB Bi @ I I @ I I -e @ BI I i@i I I I I @ l@ Exim Bank after the relative contract is approved by Exim Bank.

The letters of credit shall be advised and negotiated through the Negotiating Bank.

The letters ofcredit shall be subject to the Uniform Custcms and Practice for Documentary Credits (2007 Revision) published b], the lnternational Charnber of Commerce, (Publication No.600), and shall be irrevocable.
Each letter of credit which shall be for an amount that shall cover the contract price, shall provide for payment to be made to the Seller against presentation of documents as specified in the letter of credit, an inspection certificate and Payment Authorisation; 4.A.2 Upxrn presentation of documents by the Seller to the Negotiating Bank, the Negotiating Bank shall pay to the Seller, an amount being not more than one hundred per cent (100%) of FOB/CFR/CIF/CIP contract value apportionable to the relative shipment as reduced by the amount of advance payment, if any, in equivalent amount at the spot rate of exchange ofthe Negotiating Bant by credit to the account of the Seller with such bank as may be specified by it, provided the documents presented are in order and are compliant with the relevant letter of credit.
4.A.3 The amount of disbursement that shall have been made by Exim Bank as the Negotiating Bank as mentioned in Clause 4.A.2 shall be deemed to be an Advance made by Exim Bank to the Borrower out of the Credit and the date on which Exim Bank pays or remits the amount from Mumbai to the Seller shall be deemed to be the date of such Advance.

Exim Bank shall thereafter, advise the Borrower of the date and amount ofAdvance.
The records ofExim Bank as to the particulars of disbursements and accounts shall be final and binding on the Borrower save for manifest error.

4.A.4 Bank charges, expenses, commission or stamp duty payable outside the Borrower's Country shall be to the account of the Sell$ and those payable in the Borrower's Country shalt be to the account of the relevant Buyer.
4.A.5 Exim Bank shall in no way be liable or responsible for any act or omission in handling the letter(s) of credit or negotiation of documents thereunder- 4.8 DisbursementsagainstPaynentAuthorisation: 4.B.1 The Borrower shall on receiving : @ I { I {Qr Iei iet I I i@ ffi,' DLOCA-Fixed Ralr.

I lo8f6 -E- --B:B- eF-i@l-'8.--gl ''e--@--B--@ ./t.. u '/,Fi' CE ,mDli0 f,lt e ......41... r";t rlll-----..- ,t. lBJ I @l I I @_i :!'
I @l @ I I @_l BI Ite BI iBI IieI @ IB ter @ I I I I I @ I I I @ IBI IBI @ I I I @ IBI lei @ I I i '@]I ,el ;g @ @ t , I I I I NE I e-j I I\>l I IBI BI te I I I I { @r @ I @ i I @ IIe @ ,@ I I , BI Ite @ IB I I I r@l I @ I I I I l(e-l I @ I I i@r I @ I I @i I ILB I j el @ I @ a I @ @ Ig @ BI !
I (i) (i0 (ii| an invoice ftom the Seller duly certified by the Buyer representing the amount for supplies made / services rendered by the Seller under an Eligible Contract in the Borrower's Country, or, a request from the Buyer to release advance payment to the Seller, in the case of the amount of advance payment under an Eligible Contract (where such advance payment is agreed to be financed out of the Credit), a request from the Buy'er to release retention money to the Seller under an Eligible Conhact.
send Payment Authorisation favouring the Seller to Exim Bank in the format given at Annexure [II for the amount of the Eligible Value apportionable to the relevant invoice/request.

4.B.2 Exim Bank shall on receipt of the original Payment Authorisation of the Borrower transfer the amount mentioned therein to the credit of the Seller in such account and with such bank as the Seller may have notified to Exim Bank.
4.B.3 The amount remitted by Exim Bank to the Seller pursuant to the Payment Authorisation for account of the Seller as aforesaid shall be deemed to be an Advance made by Exim Bank to the Borrower out of the Credit, and the date on which Exim Bank shall pay or remit the said arnount from Mumbai to the designated account of the Seller shall be deemed to be the date of such Advance.

Exim Bank shall thereafter, advise the Borrower of the date and amount ofAdvance.
The records of Exim Bank as to the amount of disbursement(s) and particulars in the Borrower's account shall be final and binding on the Borrower save for manifest error.

Not\ ithstanding anything contained hereinabove, Exim Bank shall not be obliged to make any payment to the Seller after the relevant Terminal Disbursement Date or otherwise in excess of the aggregate amount ofthe Credit facility.
The Borrower shall therefore, ensure that Eligible Contracts shall be concluded in such a manner that lette(s) of credit in respect of the Eligible Contracts shall be opened within the period specified in Clause 4.A.1 or as the case may be, Payment Authorisation shall be received by Exim Bank and disbursements in respect of the letters of credit and under the Payment Authorisation can be made by Exim Bank on or before the relevant Terminal Disbursement Date and that the aggegate Eligible Value of the Eligible Contracts does not exceed the limit of the Credit.
tJtI ]trC')J cU! '

'' ""'{F , f (q'{h-**...-,.

".

1,C ffi\ \rlV DLOCA-Fixed Rarc.

I108t6 -9- - -Gi--B - @ -@--Bt--@--,e:,e:El--@_'ie,l teJ I I LB] I I Le1 I I B1 I rel I !

ra@l I Iei t!=l I I I I I I I @ tel @ I I I I @ @ @ IBI @ I I I I I r@ IB lel rel I I @l I @ rej iacel tel I I I @ l€l IB i @- I I r.g I - @- @:B -@__i@--iel -@l -Lei- ---@__@--@--LP I @ IBI BI @ @ Ivat\>l I I I I I I I i @ B} Ile IB iB I I [.ert I Ilrel i r@ I I Br ia€ I I I I I I @ @ B B, @ @ Ite @ !
I L I @ IB I I I I i I LB I I i i @ I I i I @ 4.

D No part of any Advance(s) made under the Credit shall be applied towards payment of any taxes, whatsoever.

5.

Interest: 5.1 5.2 5.3 5.4 On each Interest Payment Date, the Borrower shall pay to Exim Bark interest accrued on the principal amount ofeach Advance or, as the case may be, on t}re amount of the Credit outstanding during the lnterest Period relating thereto at the Interest Rate.
Int€rest shall accrue from the date of each Advance and shall be calculated on the basis of the actual number of days elapsed (including the first day of the period during which it accrues) using 360 days a year factor.

Interest on other monies which may not be paid when due under tle provisions of this Agreement shall also be payable on the relevant Interest Payment Date in the manner specified for payment of interest.
All interest on the outstanding amormt of an Advance or the Crsdit, as the case may be, and on all other monies accruing due under the Credit Agreement shall, if not paid on the respective due dates, carry firther interest at the same rate as specified above, computed from the respective due dates and shall become payable upon the footing of compound interest with rests taken or made half-yearly, without prejudice to the provisions of Clause 8 below.

6.
Repavment: The Borrower hereby agrees and covenants to repay to Exim Bank the outstanding principal amount of the Credit after a moratorium of five (5) years ftom :he date of first Advance, in successive half-yearly substantially equal installments over such period not exceeding twetrty five (25) years (including the moratorium period) from the date of first Advance as may be agreed between Exim Bank and the Borrower, at the time of approval of the fust Eligible Contract, the first of such installments falling due for payment on the date immediately following the date of expiry of the aforesaid moratorium period.
Exim Bank shall advise the Borrower of the repayment schedule relating to the Credit soon after disbursement of the first Advance.

Provided However that if for any reason the aggregate amount of Advances finally disbursed by Exim Bank shall be less than the amount of Credit facility agre€d to be provided by' Exim Bank to the Borrower under this amount of the aforesaid repayment instalments of the Credi ,A i(.

V-t ..1ti.,./ \i' DLOCA-Fixsd Rale.


I toEt6 --@t it@- :g -B'--lS' 1€ -I0- l5 4e'-' E SE ST. F tt -!f .=j @] L@,I i I I I I @ I[gI [B @ I16l I i I I rgl rei I,€ @ I I I I LE Iie leI IB I L.C l @ lel let el ]-el I I I rB D I Bi i(al .,L I I@Fi' @ I I I r@ I IeI I @l I I I @l IBI IelI IBI @ Irg IeI I I I(c) @ @ @ !
I I l I I I I I I I @ Ie IBI EI t.t @ IBI [5i IB @ @ I I I I i I I I @ @ I @ I @r I @ B--@--Bi -@--e:B--@--@__@--Br--Bl--@- Lei--i33--@l--@*@--rc IBI le @ @ e] @l in the inverse order of their maturity.

Commitment Fee: 7.

I I I I I I I I 7 .1 The Borrower shall pay to Exim Bank a commitment fee at the rate of 0.50% (fifty basis points) per amurn on the amount of Credit remaining rurdrawn in respect of each Eligible Contract.
The commitment fee shall begin to accrue from expiration of twelve (12) months from the date of approval of the relevant contract by Exim Bank and shall cease on the date of final disbursement of the Eligible Value of the Eligible Contract or on the Terminal Disbursement Date relating thereto, whichever is earlier.

The commitrnent fee shall be payable on each Interest Payment Date alongwith half-yearly interest as specified in clause 5 hereof following the expiry of the said period of twelve (12) months.
Provided however that commitment fee on the amount of Eligible Value of each Eligible Contract that may have remained undrawn on the relevant Terminal Disbursement Date shall be payable within ten (10) Business Days from such Terminal Disbursement Date.

7.2 No portion of commitment fee shall be refundable by Exim Bank to the Borrower even if disbursement of the whole or any part of the Eligible Value of an Eligible Contract may not materialise for any reason whatsoever.

8.
8.

Default Interest 8.1 If there shall be a default by the Bonower in the payment of any sum when due under this Agreement, the Borrower shall pay to Exim Bank additional interest by way of liquidated damages on the defaulted amoun(s) fiom the due date to the date of actual payment (as well after as before judgement) at the rate of 2oh p.a.

(two per cent per annum) over and above the Interest Rate.
8.2 Interest at the rate as aforesaid shall accrue from day to day, shall be calculated on the basis of the actual number of days elapsed and 360 days a year factor.

9.

Conditions Precedent: This Agreement shall become elfective upon Exim Bank confrming to the Borrower in writing that it has received the following documentVdocumentary evidence from the Borrower in form and substance satisfactory to it :- 9.1 A Klr", i,. )

i ',1 !

+ -4h.

oAf E.--,-.-.--'*' DLOCA-Fixed RaIe.


I l08l 6 - lt - -trt--@--i€--Bt- I I --[iElY\BI B iB @ !

I !

I I I !

@ e Lel @ I @ IelI @ I @ @ I I K€ !

@ @ Iei I I :a:r) @ I I i @ IB !
Lel B @t I I-BI B Iie BI tB @ I @ @ I I I I @ IB @ Ite IBI I l I I I III @ IBI IBI IBI IBI @ I I @ I I @ ,B Ite @ IB @ I I I I I I KB I I I @ BI @ I I :@--@-B--rB-Br-t@-'t@__@--el--@--@i--feg--B-t@ r(B--@--@--@-@ !tel it€t an opinion of the Borrower's legal counsel substantially in the @f form given at Annexure IV, with respect to governmental and "o*"nit and licences e=l alongwith certified true copies thereof where available, that may ,,-.1 "orpoiate be required for execution of this Agreement and all documents pursuant thereto, the execution, validity and ;_el authorisations, sanctions, (a) -:=,i - implementation thereof and such other matters pertaining to the @) lsl reasonably request; (b) authenticated specimen signatures of the persons who are authorised to sign this Agreement and all documents thereunder including Payment Authorisations and to represent the Bonower in connection with implementation of this Agreement substantially in the format given at Annexure V; such specimen signatures shall be binding on the Borrower until Exim Bank receives notice of express revocation from the Borrower.
The Borrower hereby agrees to fumish the documentVdocumentary evidence mentioned in Clause 9.1 within 60 days from the date of this Agreement or within such extended period as may be agreed by Exiru Bank.
Exim Bank shall approve a contract as eligible for being financed under this Agreement only after the Agreement has become efective, and Exim Bank shall disburse moneys for account of the Borrower subject to the following:- (a) fee, interest and costs, charges and expenses, if any, payable by the Borrower under this Agreement shall have been paid to Exim Bank when due; O) Exim Bank shall have received from the Seiler &e documents in terms of Clause 4.A.2, or, as the case may be, Payment Authorisation of the Borrower in tenns of Clause 4.B.2, prior to tle relevant Terminal Disbursement Date; (c) all representations and warranties made by the Borrower in the General Conditions of this Agreement shall have remained true and correct on the date of each Advance under the Credit as if all of them as may be relevant shall havc been repeated with respect to the facts and circumstances existing on the date thereof; 9.2 9.3 A Klt/ DLOCA-Fixed Rarc.
I 108 t 6 -12- _B :t- _ _B _B*tFt _ _ret i.g__@__@ __Gl_ _@, r_,et _.

@ "-.cr:.!

_N-.-,--- ,.I..

Se :.
I I I @ I @ IB G-*l I!g ri@ I @ I I I I @ I|e @ BI @ I I I @ ,@ I ILSJ I I i B Irdl I i u,@ I (d) no Event of Default shall have happened and be continuing; and (e) Exim Bank shall have received from the Borrower confirmation that all statutory /regulatory / budgetary approvals have been obtained for the Project and the Borrower has made available or made necessary arrangements for provision of availability of land, right of way, along with basic infrastructure, water and electricity at the Project site(s) in the Borrower's Country); (0 Exim Bank shall have received from the Borrower, confirmation on tax and duty exemptions, financial closure and other commitments made by the Borrower in connection with the Project along with the copy ofthe contract.
10.

Anti-CornrptionLaw: 10.1 It is strictly forbidden to the contracting parties, by themselves or by a third party involved with this Agreement, to offer, ask or accept for itself or for a third party, financial or non-financial advantage or even direct or indirect promise, as offsets for the conclusion and/or execution of this Agreemen!

if susceptible of being qualified as criminal unlawful acts in accordance with national laws of any party involved.
10.2 Any contact that is based in the practice or its attempt of situations stipulated under Clause 10.1 shall tantamount to an Event of Default under this Agreement, without prejudice to eventual civil and criminal consequences against those involved in tlese pmctices.

11.

Integrity l!€ i I I I I I @ @ IBI @l [€l Ite @ I I I I @l iel I I I @l I I @t I I l@l i I 'Lg I[e !

iel @ @ i@l I I I Iie @ I !

I @ I I .
@l I @ I(e' I : I tg @ IA[5. lke)l I ieI GJ The Borrower hereby agrees, covenants and undertakes to take all necessary measures to maintain highest level of ethics and integrity during the currency of this Agreement and ensure that Seller, bidders, suppliers, contractors, agents, consultants, sub-contractors, service providers, and any personnel thereof shall take all necessary and reasonable steps within their scope of business and area of responsibility to avoid and defend against serious r.iolations of obligations in or in connection u,ith implementation of the Project including preparation of DPR, and in bidding, procurement and execution processes in connection with the Project.
12.

General Conditions to form rrart of Credit Asreement: I'his Agreement shall be read with the General Conditions contained in SCHEDULE hereto which shall form an integral part of this Agreement and be deemed incorporated hcrein by reference and the parties hereto @ IB IGJ r:El i {et I {'s.l i tftet !

I fi'El l [:l=.

be bound by the provisions thereof.

b DLOCA-Fixed Ratc.

I 10816 -13- /.

7' s rGN 5:t rDDN0FI -_=-*_--..*....ra1 -4t---- c a,] E---"-.-,-..- -.

t''zt \:?t.
t''zt \:?t.

\IN\ t I @ i I I I I @ IEj @ @ @ IBI @ I I I I t I I @ I @ IBI @ i @ I I lCe, i ,(ql I @ I I I I @ Ile LE I I THE ULE ABOVE TO GeneralConditions A.
B. C. D. E. F. G H. L J. K. L. M. N. o. P. a. R. S. T. Defi nitions & Interpretations Borrower's liability lnrcrest Period Taxes Currency of Account and Place ofPayment Appropri ation of Payments Indemnity Representations Affirmative Covenants lnspection and Monitoring Events of Default Evidence of Debt Waiver Assignment/Transfer Certification by Exim Bank Partial Invalidity Language of documents Law Arbitration Notices I I Gi I{e Ir€ I I I I @ @ @ I I I @ @ I I @ @t I I @ i I I @ I@ I I I @_i DLOCA-Fi\ed ,,,.ie .
I t08!6 -14- .\oq1t .L sT-, r --Gl_- @- B- -@- -Ce' =' lB--@--@:@--lg--@--B--t@--@__B_-@-B: I I I I [Bi @ IB tel [B I I I I @J Ie] Itr @l I G3 I @ @ I t@ ,jB iel tcel I I i=g I I L-el r@ I L@j IBI e,l ,.

1 :iBl I @ I @ IBI B @ I I @l- - (B -B- -L@--B--el-- El--@l' -'*@|-@--B-_@ e-- iBJ -ie- @--B I _-t. k@ I -t@ I r@1 I I I @ @ (e I 1 Lel @ I I I I L @,l [e leI @ BI i@ i I I I r@l I Iel i @ 1 I I @ I I I I I @ Iie @ @ @ I I @ I,e i I I I I l @ @ Ig I i I I @ It''g I I I @ GENERAL CONDITIONS SCHEDULE A.
Except as expressly specified herein, all expressions used in the General Conditions and dehned in the Credit Agreement of which the General Conditions form a part, shall have the same meanings as grven to them in the Credit Agreement.

ln the event of any inconsistency between any provision of the Credit Agreement and the General Conditions, the relative provision of the Credit Agreement shall prevail.
B. Borrower's liabilitv: The liability of the Borrower to make any palment herermder being primary, shall in no way be conditional upon due perfomrance by the Seller in terms of an Eligible Contract and shall not be affected by reason ofany dispute between a Buyer and a Seller or any right which a Buyer may have or claim to have against a Seller nor strall the Borrower be entitled to raise any defence or objection emanating from its business or contractual relatiors with a Buyer, for making any payment to Exim Bank under the Credit Ageement.
C. Interest Periodr (l) (2) The period for which an Advance or the Credit, as the case may be, is outstanding shall be divided into successive periods (each an "Interest Period"), having duration of six months each or as otherwise mentioned.
The fust Interest Period in respect of each Advance shall commence on the date on which an Advance is made, and in the case of first Advance relating to the first Eligible Contract, the first Interest Period shall end on the Intereit Payment Date following the commencement of such Interest Period.
(3) The first Interest Period in respect of each subsequent Advance relating either to the same or another Eligible Contract shall end on the laS day of the then cunent Interest Period relating to the fust Advance pertaining to the first Eligible Contract.

ffi DtocA-Fkcd Rdc.

u06r6 -l5- __@,--B:B--@l--iG:- e, r@--,8--B--@--B--@: 6): i:, - ---.

-.......
I B IB Ei I I I @l IBI @I ei r€t I I I I I @ IBI @ It6, I I I I I @ IBI Irg I t@ I I @ I rB I IeI @ I I I @ BI ,@ ieI KB I I -rccl I I @l I I --re I I t @ ei - rei - @- - @ __sl - - @ - - @ - - B - - ej: @- Bl - - @- - @ - -@ - - s€- Lel - - l@ - - @l- - el - - @] Glr @l B el iel rel Each Interest Period (other than the fust Interest period in relalion to each Advance) shall commence on the day immediately following the preceeding Interest Period, and shall end on the lnterest Payment Date nearest to it.
@ @ (4) I_l I I I I @ @ I I I I @l lBI @ IBI @ I I I t@l I Er I l LE I IBI IBI @ I I I @ @ I I I @ I I I Lel @ I I @ I@ I I ire!

I I @l I I I I , I I I I I @ @ @ @ @ tB I I (s) Any Interest Period that would otherwise end during the month preceding or extend beyond the final Repayment Date shall be of such duration that it shall end on that date subject to adjustment in accordance with Section E.4.
(6) Where two or more Interest Periods begin and also end on the same day, the Advances to which these krterest Periods relate, shall constitute and be referred to as one Advance.
D k: D.1 .,lll sums payable by the Borrower under the Credit Agreement shall be paid in flrll \vithout set-off or counter-claim or any restriction or condition and free and clear of any deduction for or on account of any preseut or future taxes or other deductions or withholdings ofany nature whatsoever, now or hereafter imposed by the govemment of the Bonower's Country ("the Taxes").
If (i) the Borrower shall be required by law to make any deduction or withholding from any sum payable by it hereunder; or (ii) Exim Bank shall be required by law to make any palment on account of tax (other than tax on its overall net income) on or in relation to any amount received or receivable by it hereunder, or otherwise payable by Exim Bank to its lender(s) from whom Exim Bank may have sourced funds to make available the Credit, then the sum payable by the Borrower in respect of which such deduction, withholding or payment may be required to be made, shall be increased to the extent necessary to ensure that after the making of such deduction, withholding or payment, Exim Bank shall receive and retain (free from any liability in respect of any such deduction, withholding or payment) a net sum equal to the sum which it woutd have received and so retained had no such deduction, withholding or paynent been made.
D.2 The Borrower shall deliver to Exim Bank within thirty days after it shall have made any payment from which it shall have been required by law to make any deduction or withholding, a receipt issued by the relevant taxing or other authorities evidencing the deduction or wittrlolding of amounts required to be deducted or withheld from such payment.
D.3 The Bonower shall hold Exin Bank harmless ftom and agains any liability q'ith respect to any tax on or in relation to any amount I I I I j r-e !BI B] B @ BI I@, I I rel ie (e IB BI [e] Ile I L kPl \ I(B i I @ I r@l i @l i i ,"=-t I i I @l IBI I GJ tel @ DI-OCA-rix€d Rate.

I 10816 LI Its0N0Mt a :i_a &.

i; -16- \(r'.

., o'"--- -"'""':;:i1:,P s-- e--@--B--@, - @r c-;r\e-+@=I@-.-@iB#.

(€r "'l @,-- B--C€--g--el--@--B__@--B-@:@__@--@--el- -@:133_- @--@--@-@ I IeIB] I I I Ite @ Il- fcQr @, !
I @ @ I I I @ @ BI IBI IBI IBI @ B @ I I @ I I I @ elI @ @ I I I I I I I -@=I @ IelI @ IBI IBI @ I I @ I I I I I I I @ BI @ I @ @ by the Borrower under the Credit Agreement (whether or not ploperly or legally asserted).

D.4 If at any time the Borrower shall b,ecome aware that any such deduction, withholding or payment contemplated by sub.section (l) above may need to be made, it shall immediately notifu Exim Bank and provide all available details thereof.
E. Currencv ofAccount and Place of Pavment: 8.1 Dollar is the currency of account and payment for each and every sum at any time due by the Borrower under the Credit Agreement.

It is however hereby agreed that each sum which is otherwise payable by the Borrower to Exim Bank in Dollars.
E.2 (D If any sum due from the Borrows under this Agreement or under any arbitral award or judgement on an award given or made in relation hereto, may need to be converted ftom the crurency ("the First Currency") in which the same shall be payable hereunder or under such award or judgement into another currency ("the Second Currency") for the purpose of (i) making or filing a claim or proof against the Borrower; (ii) obtaining an arbitral award or judgernent on an award in any court or tribunal; or (iii) enforcing any such award or judgement given or made in relation hereto, then such conversion shall be made at the rate ofexchange quoted to Exim Bank by a commercial bank for freely transferable Dollars, at the close of business on the day before the day on which the claim or proof is filed or award or judgement is rendered, and the Borrower shall indemnifr Exim Bank and hold it safe aDd hamrless from and against any loss suffered by it as a result of any fluctuation between (a) the rate of exchange used for such purpose to convert the sum in question from the Fi6t Cunency into the Second Cunency and (b) the rate of exchange at which Exim Bank may in the ordinary course of business purchase the First Currency with the Second Currency upon receipt of a sum paid to it in satisfaction in whole or in par!
of any such claim or proof or award orjudgement.

(i, For the purpose of sub-Section E.2(i) and without prejudice to the indemnity therein contained, the Borrower firther agrees, to the firll extent permitted by law, that any award or judgement on an award made in the Second Currency shall be for such sum as would, at tle rate or rates of exchange at which I , @ @ @ iei r€r I I I I Kg IB !BI @ I I I @ IleI Irg @ (e i @ B BI @ IB @ I I EB @ igl i @ @ Eb @, (.

DLOClFFixcd Rarc.
DLOClFFixcd Rarc.

| 10816 __@--@ @ "@--El El -€r:@:@--@:@.-@-- '17 ' li al !

'!l tl T I I G--[e] @t- t- t(E{ !

il @ I I I I I @ @ IBI @ @ IeI @ IIe @ I I I I I I @ I @ !BI @ I @ @ I I I @ I I I I I @ IBI @ BI IB!

@ I I I I I I I I @ @ @ I I @ I @ Ifta I I I @ I@-@ Exim Bank may in the ordinary course of business purchase the First Currency with the Second Cunency as at the date of payment, enable Exim Bank to receive the sum due to it in the First Currency.
E.3 E.4 All payments to be made hereunder by the Borrower to Exim Bank shall be made in Dollars by means of transfer/credit to the account(s) of Exim Bank uith designated bank/s in lndia or abroad.

The payments shall be so made as to enable Exim Bank to receive or realise at par t}te amount of payment on or before the relative due date thereof.

Unless otherwise advised by Exim Bank, the Borrower shall make payment to the credit of Exim Bank A,/c.

No.
No.

36247347 with Citibank N.A., New York, U.S.A., CHIPS UID 173871.

The payment obligations of the Borrower shall be deemed flrlfilled only when and to the extent payments have been transfened without any deduction to the designated account of Exim Bank and are at its free disposal.
If the date on which any sum under the Credit Agreement is due and payabie shall not be a Business Day at the place of payment or for Exim Bank, as applicable, then the due date for payment of any such sum shall be the next succeeding Business Day, unless such succeeding Business Day falls in another calendax month, in which event, the due date shall be the immediately preceding Business Day, and if necessary, interest and fee, if any, shall be calculated accordingiy.
F, Appropriation of Payments: F.l Unless otherwise required by Exim Bank, any payment under this Credit Agreement when made to or received/recovered by Exim Bank, shall be appropriated in the following order and the Borrower waives aly right it may have to direct appropriation in any other order: (a) costs and expenses; (b) fee; (c) additional interest by way of liquidated darnages; (d) compound interest; (e) interest; and (0 instalment(s) of principal due under the Credit Agreement.
F.2 Notwithstanding anything contained in sub-Sectior (1) hereinabove, Exim Bank may at its discretion, appropriate such payment towards satisfaction of dues, if any, payable by the Bonower in respect of any other loan/ facility availed offrom Exim Bank.

LEJ B IBI IB @ @ @ I I I I I @ Br @ @ i I I @ I ,@ i @ IBI I @el I I "elI ier I BJ I @ I I I I I I I I I @ @ @ B]I @ @ IB I @ DLOCA-Fixed qatr.

I 1 0816 -l8- '--?

'l:ir1...' '+ c..r E..-.-.-.- ") !
:r:.llt @ .,-.,,:-,,, ., ;.-,i#;" f.tsJ t' iel .J.. (ql I I IBI.-L tet Ire @ I I I I r@l I BI @ I I I I @ @ IB I L@ I @ I @ I @) @ I I @ ,fq I I @ I6 i I I I @ @ KE L @t l @ nb e liel -i- @ I I @ l@t I I -lG] I I I IBI e€ I tE] I {LPl I I @ @ I I I @ @ l.+,rel Iel @ I I I tel @ I I L@ I I G. Indemnitv: The Borror*'er shall indemnifr and keep Exim Bank indemnified from aod against all losses, liabilities, damages, costs, charges and expenses which it may certify to have been incuned as a consequence of occurrence of any Event of Default or any other breach by the Borrower of any of its obligations rurder the Credit Agreement or by reason ofany payment or repayment to or receipt or recovery by Exim Bank of any instalknent of the Credit or any overdue sum otherwise than on a Repayment Date or an Interest Payment Date relating thereto (including any loss incurred by Exim Bank in liquidating or redeploying fimds acquired to maintain the Credit or arranged for the purpose ofa proposed Advance and any interest or cost incurred in funding any unpaid sum).
H" Representationsr H.1 The Borrower represents that:- (i) the official(s) sigring this Agreement has/have frrll power, capacity and authority to execute and deliver the Credit Agreement on behalf of the Borrower and that necessary action (statutory and any others) has been takeo to authorise its borrowings hereunder and the execution, delivery and performance of the Credit Agreement and all documents in pursuance thereof; (ii) all acts, conditions and things requircd to be done, fulfilled and performed in order (a) to enable the Borrower la*fiilly to enter into, exercise its rights under and perform the obligations expressed to be assumed by it under the Credit Agreement and (b) to ensure that the obligations expressed to be assumed by it in the Credit Agreement are legal, valid and enforceable, have been done, firlfilled and performed in strict compliance with the laws of the Borrower's County aod there has been no default in firlfillment of the conditions of any of them; rh o e Credi enfo un c b A t rceab tr ondi pari ast e I rgatlons expre greement ssed co to nsti be tute 1n onal and pas SU general wl th al bo tS li other by and assumed I egal th the gations ir terms f o the unsecured the B val wer oIro b d o are and Borrower lib gati o ons ln igati the ons direct ranking it is enfo Agreem not rceabili t en necessary ro ty and ln admiss ment v order bili A to ty uth Pa ensure ln ev cri sation the dence in le gality of the the idity val c redit s (iii) (iv) @ DLOCA-Fixed Rate.
I l0E l6 9 I @ Iie| .t @I I .l I I I I I @ @ IBI @ I @ @ I @ IB I I I I !

I I @ I L@ l I @ @ @ !
I I i I @ ItrI @ I @ @ I I I I @ IBI @ IB @ I I t(Bl (v) Counfy that it or any other document be filed, notarised, registered, recorded or enrolled with any court or authority there or that any stamp, registration or similar ta"x be paid on or in relation to this Agreement; the Borrower is subject to civil arrd commercial law and to legal proceedings with respect to its obligations under the Credit Agreement and all documents executed pursuant thereto and the bonowing of the Credit execution and delivery of the Credit Agreement and the performance by the Borrower thereunder constitute/will constitute private and commercial acts and not govemmental or public acts.
Neither the Borrower nor any of its property, assets or revenues is entitled to any right of immunity or privilege from service of process, attachment (whether prior to the entry of or in aid of execution upon a judgement) or set- ofll judgement, execution, or from any other legal process in the Borrower's Country on the grounds of sovereignty or otherwise, and the waiver contained in this Agreement of any right ofsuch immunity and privilege by the Borrower is inevocably binding on the Borrower; (vr) in any proceedings taken in the Borrower's Country for the enforcement of the Credit Agreement, the choice of the Indian law as the goveming law of the Credit Agreement is a valid choice of law and any decree or judgment or an arbitral award in respect of the Credit Agreement will be recognised and enforced by the courts in the Borrower's Country; (vii) Exim Bank shall not be deemed to be domiciled or carrying on business in tle Borrower's Country by reason only of the execution of the Credit Agreement.
H.2 The Borrorver firrther represents that:- (i) neither the execution or perforrnance of the Credit Agreement or the Palment Authorisations nor the exercise by the Borrower of any of its rights hereunder will: (a) conflict with or result in any breach of or default under any law, authorisation, judgment, order, agleement, instrument or obligation applicable to, or which is binding upon or affects the Bonower or any of its present or futwe assets or revenues.
or O) result in the creation ofor oblige the Borrower to create, r-.g I i(Bi [e] I l,(,8 ":'tel @l I BI IB Iel @ L I i @ I I K€ I I I @ @ rel I I I t@ @ @ re31 I e] lel L@ @ I BJ i I reg r@ I I l(c?l I I {,ei trg I BI -@ tr I@=@ @--@--B -.B -@--B:B:B*B__rg--.e--B- DlocA-Fixcd Ratc.

lroEl6 -20- / ?

I i.E,tCCN0tr;;' G -.-,...q t(94t ' IT: -sfl IIe -@l -l I r-€+ @ I I I LE Iel I l@r I LE @ [@i I i rel I I @l I I i?6, l\>l Ie l(eii I @ i61 !
@ t€ !C€-r I i i I I @ I i@ I rs,-l.l l5l ; l I I L>i I I i@ I I @ L@- (€ I any encumbrance on the whole or any part of its present or future a-ssets or revenues; (i, the Borrower is not in breach of or in default under any law, authorisation, agreement, instrument or obligation applicable to, or which is binding upon or affects, the Borrower or any of its assets or revenues, being a breach or default which might have material adverse effect on the ability of the Borrower to duly observe and perform its obiigations under the Credit Agreement; (iii) there is no restriction imposed in the Borrower's Country which limits or prevents the tansfer of foreign exchange by the Borrower for the purpose of performing any of its payment obiigations under the Credit Agreement; (iv) no event has occurred which is or may become specified (with the giving of notice and/or the passing of time and/or any finding of materiaiity) as one of those events mentioned in Section K.l and no other event has occurred which entitles, or which, with the giving of notice and/or the passing of time, would entitle any creditor of the Borrower to declare its indebtedness due and payable prior to its specified maturity or to cancel or terminate any credit facility or to decline to make advances thereunder; and (v) the information provided by the Borrower to Exim Bank before the date hereof in corurection herewith is true and is not incorrect or rnisleading in any respect.
I. df{irmative Covenants : The Borrower agrees, covenants and undertakes to:- (i) utilise the Credit facility for financing purchase from India of Eligible Goods and Services by Buyers in the Borrower's Country; (ii) obtain, comply with thc terms of a.rd do all that is necessary to maintain in firl1 force and effect all authorisations, approvals, licences and consents required by the laws and regulations of the Borrower's Country 10 enable the Borrower lawfully to enter into the Credit Agreement and perform its obligations hereunder and thereunder and to ensue the legality, validity, enforceability or admissibility in evidence of ttre Credit Agrcement in the Borrower's Country; (iii) promptly inform Exim Bank of the occuffence of any event which is or ffi Ws, DLOCA-Fixed Rale.
I 10816 lle-,-e,- * lN cEl NN l.rl /,': / /,/.,:,;\ -*tE!3 rd I I ,:@\ t. r€r ?ar I I IBI t6 i {@ t@l I I I tGl IelI LE I !

@ @l I @ Ier @ I [Q] I @ I I I I @ i @ rg !
I Iel, I I @ TBI @ IBI I I I l@ I L@ I @ I r@t --,:" - iG:r i/:-ij' I I @_l Irai IBI ier I fi=.\ I I IB @ IBI i(B i I I(B !BI I KE may become (with the giving of notice and / or the passing of time and / or any finding of materiality) one of &ose events mentioned in Section K.l hereof; (i") promptly inform Exim Bank of any litigation, arbitration, administrative proceeding or contract claim brought or made sgainst the Borrower or against any of the assets of the Borrower, the consequences of which might materially or adversely affect the financial condition of the Borrow'er or the ability of the Borrower to duly observe and perform any of its obligations under the Credit Agreement; (") ensure that its obligations hereunder will at all times be direct, unconditional and general obligalions ranking at least pari passu with ali its other unsecured obligations; (vi) meet any shortfall in resources or costs overrun for completion of the Project.
(vii) pay or cause to be paid all lawfi:l claims of whatever nature, which, if unpaid, might become an encumbrance upon the assets, revenues, income or profits of the Borrower, unless the validity thereof is being contested in good faith and such reserves or provisions as may be required by generally accepted accounting principles and practices in the Borrower's Country shall have been made therefor; (viii) appoint a process agent in Mumbai whenever called upon by and ensure that until payment is made by the Borrower of all moneys to Exim Bank under the Credit Agreement, such agency relationship shall not be terminated after its appointrnent unless another process agent acceptable to Exim Bank has been substituted, and to notifr to Exim Bank about any change in the appointrnent of process agent(s) or in their addresses, and pending appointment of a process agent, service of process by mailing copies thereof to the Borrower by registered airmail, postage prepaid, at the address specified herein, shall be deemed personal service accepted by the Borrower, and shall be valid and binding on it for the purposes of reference to arbitration.
J Insoection and Monitoring: J.1 Inspection The Borrorver coveffmts and agrees that until all amounts due under the Credit Agreement have been paid in fuIl, the Borower will facilitate inspection being taken by the representatives of Exim Bank of the fftcers Buyer's facilities, activities, books and records and cause their @ ,'^-41 lh I Sizl \\?, @--r:B--@--@--@-'@--@-@*@-tB-- l l' -El- @: DI OCA-Fixcd Rate.

I 10E l6 22 r_t ta.
I 10E l6 22 r_t ta.

fp --.....rHit lr-!1, n r' t --..-.----.-.- - :@ i&€E#=i* ict: le .€ I I I I @ IB @ €l i 7A I IE I I I [e-] I I Fql I I @ I I r,@ I @ @ @ @ IB @ I I I I I I I ,@ B I n6l .E @ I l @ I @ I '-,a- r\5j I I L@ I @ @ lgj I I !
i I l@ i B--is-]@--@--@--@:@:@--g:B-@:@-ie]--B- @-,@--B- @--B ItrI I and employees to give fi.rll co-operation and assistance in connection therewith, it being understood that Exim Bank will exercise the right of irspection in limited circumstances ald the inspection will be confined to that portion of the Buyer's project which may have utilised Exim Bank's funds.

Such inspection may be subject to prior written approval of the concemed Buyer.
The Borrower firther covenants and agrees that it shall also procure the consent of its Seller, bidders, suppliers, contractors, agents, consultants, sub-contractors, service providers, and any personnel thereof, to allow the Government of India/Exim Bank to inspect all accounts, records and other documents relating to submission of bids and conhct performance, and to have them audited by the auditors appointed by the Govemment of India/ Exim Bank during the currency of this Agreement.
J.2 Monitorine of Proiect(s) / Elisible Contract(s) (a) The Borrower shall submit a status report on execution of each Eligible Contract at an interval of 3 months from the date of approval of each contract till completion of the Eligible Contract.
(b) The Bonower, shall at its cost and expenses, on completion of Project / each Eligible Contract, submit a comprehensive Project completion report covering benefits derived/to be derived from the Project and its socio-economic impact in the Borrower's Country along with visual documentation.

(c) (d) Exim Bank may appoint a Lender's Engineer for independent monitoring of the Project.
The responsibility of the Lender's Engineer, is to ensure adherence to time and quality specifications, and where necessary, initiate corrective action for the successfrrl and timely impiementation of projects.

The Borrower shall ensure that the Seller, contractors and consultants engaged with the Project provide necessary support and assista[ce to such Lender's Engineer.
The Borrower shall at all times during the currency ofthe Credit, permit access to ollicials and representatives of Government of India / Exim Bank to the Project site(s) in the Borrower's Country.

K. Events of Default: K.1 For the purpose of this clause, there shall be an event of default if- @l I r€J IBi @ @ @ t@t te @ I I I @ @ IBI i@ I I @ IB @ l I @ I I KB I I @ .t @ DLOCA-Fixed Rare.

I l0El6 23 I LE -B_-@-"@--@--@ -@:@-i@-_@--@--@ lN'"E IICDN(/],.

j,-a )' r'|"----'---"-"'.

, ' \€,t' \{-.


'i,...,--r -.

r. i':';.

Lp.

- f,B - r@ -r6i-\@=g=9, F--Le @__le--@--B--@--@--@__@-@--@--Bj -r€ igl -(B- g- @--@--B.-lB @l I @I I r@ ei B IBl BI IeI @ t I I l@r !

I @ ,e] I I r@l I I;el @ I I I I @ IBi @ I I @ I I @ I !
3@t Ire @ I I J ]>l i i @ t @ I I @ elI IBI @ I (a) any amount payable by tlre Borrower to Exim Bank under the Credit Agreement is not paid when due; (b) the Borrower fails to perform or observe any of its other obligations under the Credit Agreement; (c) any information fumished or representation made by the Borrower to Exim Bank is found to be incorrect or incomplete in any material respect; (d) (e) the Borrower defaults in payment of any other external indebtedness on its due date or any external debt of the Borrower becomes due and payable prior to its stated maturity or a moratorium or embargo is declared on the payment of any extemal debt of the Borrower or any of its agencies, or any political event occurs by reason of which the Borrower's Country is declared to be on inimical terms with India; any restriction shall have been imposed in the Borrower's Coiurtry which limits or prevents the transfer of foreign exchange by the Borrower for the purpose of performing any of its payment obligatioDs under the Credit Agreement.
K.2 If an Event of Default occurs and remains unremedied within thirty (30) days after Exim Bank has notified the Borrower of such default, then Exim Bank may, by a notice in writing to the Borrower declare that: l B IBI K€ B iBI @ BI tei I (a) (b) (c) access by the Borro'*er to availment of the Credit facility hereunder shall stand suspended in which event the Credit faciiity to the extent not availed ofby the Borrower shall remain suspended until the event which gave rise to such suspension shall have ceased to exist to the satisfaction of Exim Bank and Exim Bank shall have notified the Borrower that access to the Credit facility has been restored; or any rmdrawn portion of the Credit shall stand cancelled whereupon the same shall stand cancelled; and the unpaid principal amount of all Advance(s) or the Credit as the case may be, shall become immediately due and payable, whereupon the same shall become so payable by the Borrower to Exim Banh (anything to the contrary in the Credit Agreement notwithstanding) together with all interest accrued thereon and all other monies then owed by the Borrower to Exim Bank hereunder, without any further notice or demand of any kind I @l r€ I I @l Irel I I @ @ I (@t I I r@ e]I A VHryz DLOCA-Fixed Ratc.
I 10816 -24 - jr \,, .

nrlE-.-'-'.""

*LB -B--@- B--Le.l--@--Er--B__B--Bt--iB -i€i -lB -irBi--r. -@_-te- L€F_l€ whatsoever, all of which the Borrower hereby expressly waives in favour of Exim Bank.
K.3 All expenses incurred by Exim Bank after an Event of Default shall have occurred in connection with preservation of the Borrower,s assets and collection of amormts due under the Credit Agreement shall be fothwith payable by the Borrower, and until payment, shall carry interest at the Interest Rate, besides additional interest by *uy of liquidated damages at the rate provided in the Credit Agreement.
K.4 Notwithstanding any suspension, cancellation or acceleration pusuant to any of the events of default referred to above, all the provisions of the Credit Agreement shall continue in firll force and effect during the period any amount payable by the Borrower to Exim Bank remains outstanding, and independent of the Borrower's obligations under the Credit Agreement, the Borrower also agrees to indemnift Exim Bank against the consequences (direct or indirect) of any action that may be taken by a Seller or Buyer against Exim Bank by reason of suspension of the Credit facility or cancellation of the undrawn portion of the Credit as aforesaid.
r€l I I @ (=j I @l L. Evidence of Debt: (a) Exim Bank will maintain, in accordance with its usual practice, a loan account in tle name of the Borrower evidencing the amount(s) from time to time lent by and owing to Exim Bank as also arnount(s) received or tecovered by it, and ar interest receivable account showing therein the amount of interest and other moneys payable under the Credit Agreement as also amount(s) received or recovered by Exim Bank in respect thereof.
O) In any proceedings arising out of or in connection with the Credit Agreement, entries made in the accounts maintained as aforesaid shall be prima facie evidence of the existence of the liability of the Borrower as therein recorded.
M. Waiver: No delay in exercising or omission to exercise any right, power or remedy accruing to Exim Bank upon any default under the Credit Agreement or any other agreement or document executed pusuant thereto, shall impair any such right, power or remedy or shall constitute a waiver thereof or ofany obligation of the Borrower hereunder or theretrnder or be construed as an acquiescence in such default, nor shall the action or inaction of Exim Bank in respect of any t or any acquiescence by it in any default, affect or '3iILr3rr DI,OCA-Fixcd Rate.
I 10816 -25- 4F S: i; rr- - - .FAt .t l 's:?-".

'I3.

\).. cqTE-_-.-.-...,.

@- I @l ,I rgI K=l .

--i- ',gl I-B IBI @ I I I I I I @ I @l I[e @ I I @ I I I I I @ IBI @ @ I I I I I I @ @ IB @ IBI @ , I I @ @ @ I I I I l I I I @l I Lej Ig @ I I I I I @ IBI @ @ I l I I I @ * ii€, iG'l l I I L@l I rg @ IBI I @r @ @ @ I I @ I I !
I I I @ iB IBi @ I I @ Ig @ I I I i I I I @ @ @ @ I I I I I I I I I @ @ @ B f@l I I I I Ire @ re @ lBI @ I I I r€l - re - @' - er - - @- - B:@- - B - - Le - - rel - - @, - - l@l - - i€l- @- - t@ __@: @ - - tB iel I power or remedy of Exim Bank in respect of any other default.

The rights and remedies provided in the Credit Agreement are cumulative and not exclusive of any rights and remedies to which Exim Bank shall otherwise be entitled.
N. Assisnment/Transfer: Exim Bank shall be entitled at any time to transfer, assign, grant participation in or otherwise dispose of any of its rights and benefits under the Credit Agreement to any person within or outside lndia.

The Borrower however, shall not assign or transfer any of its rights or obligations arising under the Credit Agreement.

O.
O.

Certification by Exim Bank: Where pursuant to any provision of the Credit Agreement, Exim Bank may certify or determine a rate of interest or an amount to be payable by the Borrower or express an opinion on any matter, such certification, deterrnination or opinion shall be conclusive and binding on the Borrower in the absence of manifest error.
P. Partial In di If at any time any provision of the Credit Agreement shall become illegal, invalid or unenforceable in any respect under the law of any jurisdiction, neither the legality, validity, enforceability of the remaiaing provisions hereof nor legality, validity or enforceability of such provision under the law of any other jurisdiction shall in any way be affected or impaired thereby.

a. Languase of documents: All documents required under the Credit Agreement shall be in English language.
R Law: The Credit Agreement shall be govemed by and construed in accordance with the laws of India.
S. Arbitration: Any dispute or difference between the parties hereto arising out of this Agreement shall be settled by arbitration in accordance with the Indian Arbitation and Conciliation Act, 1996, by one or more arbitrators appointed in conformity with the said Act and an award in pursuance s.1 s r.Bl elI Lel I I I l @i I(gi Iel @ iBI IBI @ IB @ I@ I I @l @_l I I BI @ IBI rg IBI B] I @ Ig BI B @ -B--@--@--@--@--@--@'iel--@"-@r--@--trB (B'e DLOCA-f-ixed Rate.
I I08 t6 26 I Ie] I i@l : @ eI @ e, I I I @i I I I @ @ IBI Ie @ iei @ rc I L I I '(e)l I IBI I @i I I !

I@l Ile IBI Itr I,e Ie @ @ I'@ B @ i I I I @ I I @ I (@ I I,B thereof shall be binding on the parties.

The party which seeks to submit the dispute to arbitration shall notiff the other pafiy in writing not less than four weeks in advance of the proposed date of submission of the dispute to arbitration.
The place of arbitration shall be Mumbai, India and the language in arbitration proceedings shall be English.

The Bonower irrevocably and unconditionally waives any objection which it may now or hereafter have to tle choice of Mumbai as the venue of arbitration arising out of or relating to the Credit Agreement and documents executed pursrurnt thereto.
The Borrower also agrees that an arbitral award against it in any such arbitration proceedings shall be conclusive evidence of the fact and amount of its indebtedness and may be enforced and executed in the Borrower's Country on the strength of a duly certified true copy thereof under its applicable laws for enforcement ofa foreigrr arbitral award.
The Borrower hereby consents generally in respect of any arbitration proceedings arising out of or in connection with the Credit Agreement and all documents executed in pursuance thereof, to the giving of any relief or the issue of any process in connection with such proceedings including without limitatron, the making, enforcement or execution against any property whatsoever (irrespective of its use or intended use) ofany award or judgement on such award which may be made or given in such proceedings.
s.2 s.3 s.4 ,@ I I ,:el @ I I @J l @,J l I I I i I I @ Irg @ Iie @ Ig IB .B (eI I I I I I I @ IBI @l I I I B_i I I L@l To the extent that the Borrower may hereafter be entitled in any jurisdiction to claim for itself or its property, assets or revenues, immunity from service of process, attachment (whether prior to the entry of or in aid of execution of an award or upon judgement or otherwise), set-off, judgement or from any other legal process on the grounds of sovereignty or otherwise, and to the extent that in any such jurisdiction there may be attributed such immunity to itself or its property, assets or revenues, the Borrower hereby irrevocably agrees not to clain and waives such right to immunity with respect to its obligations under the Credit Agreement to the fulIest extent permitted by the laus of such jurisdiction.
rgl IBI @ iel @ Itel Any notice given and any request or dema:rd made in relation to the Crcdit r-s;:.t, Agreement shall be sufficiently given or made if sent by registered air letter, cable, authenticated SWIFT or l'ax.

Such notice, request or demand shall be deemed to have been duly given or made when it is duly dispatched I transmitted to the party to which it is required to be given or made at such -3r tr el\| @r - - -:.-.--- -- -.- as such .\l .E!!

!1,1 Notices: 4\.- (9' ,_-,.


: : _ party's address specified below or at such other place At[.-V.., \_aJy T. DLOCA-Fixed Rate.

I l0El6 -21- --@--B:@-- @:@--@--@--e--@--@J-'e--fej--@ t _c.

rE_--.-,-.--.-..

.

I € r.et 'T- @ I r*@ I @ 6. l\=l l I @ I @ iBI @ I @ I I i I I I I I @ @ IB iteI IB @ IBI B @ I I I I I @ IBI @ I I -Gi-g]--fe -@l--Er--@:@--@:B- ",e- B -I:Bi--Gjl r.ei- t'g- r(g--t@--@--@ I designate in writing.
When any notice, request or demand is given or made by telex or fax, the party concemed shall also send within a reasonable time a confirmatory copy of such telex or fax by airmail post.

i@l I IBI lg i iCB I I I I iL @ IelI I @-l i i@i I @ I I @l I I I EJ ral I I k'(d I I I ie @ BI rg i(qi i @),, I $Bl I @ .LBI I .rBj I lg , r=r ral I I B} B -2E- @--@__B--Bj- @-- @ I I I I !

''eI IBI @ IBI @ @ @ rg @ B_@ -_ @=@ --@l--@-- @=B- - DLOCA-Fixed Rare.
I l0El6 I I I I I I eI I i tr @ @ @ B @ I i @ I I @ I @ IB @ IIg tel I I I I @ IBI IB @ @ IBI IBI @ I I !

I I I I I @ IBI @ IBI @ !

I I I I @ E} @ Irei I I I @ BORROWER: The Govemment of The Republic of Sierra Leone Ministry of Finance and Economic Development, George Street, Freelowr!

Sierra Leone.
Sierra Leone.

Attention : Ministry of Finance and Econornrc Telephone Fax No Email Development : +232-22-222211 : +232-22-228472 : ekoroma@mofed.gov,sl EX]MBANK: Export- Import Bank of India Maker Chamber IV, 8th Floor, 222, Nariman Point, Mumbai-4O0 021.

@ Attention : Telephone No : Fax No Email SWIFT : : : LOC Group (et-22) 22861561 t 22864011 (9t-22)22823394 eximloc@eximbankindia.in EIBIINBB L. IEON'ii.

, (": DLOCA-Fixed Rate.

I loEl6 :@ -B--B--B--@--@-LB--{@--B:@- @- t-- 29 er- @ I !
@ I I _t- I I I I !

I I I I I I J I !

I ei ,B @ @ I !

I I @ @ @ I I @ @ @ @ @ @ I @ IBI @ @ I I I i I It<r I I l.@ i @ i I { r.g IBI IB t@ I I I ' N>-l I I L@l I I @ I I @ @-- I I IN WITNESS WHEREOF this Agreement has been signed in duplicate on behalf of the parties hereto by persons duly authorised in this behalfrespectively on the date and place mentioned herein below.
SIGNED AND DELIVERED on behalf of THE GOVERNMENT OFTHE REPUBLIC OF & , SIERRA LEONE by the hand of its duly authorized offi cial H.E.Momodu L.Kargbo, Minister of Finance and Economic Development, Govemment of Sierra Leone, at Freetown, Sierra Leone on 1lm day of August 2016.

SIGNED AIID DELIVERED by EXPORT- IMPORT BAI\K OF INDIA at Freetown, Sierra Leone, b1' the hand of Mr. Pushpesh Tyagi, its Resident Representative in Abidjan on the I le day ofAugust 2016.

@ ) ) ) ) ) ) ) /a DLOCA-FiXGd Rate.


I 108 16 -30- G--@--@--G?t--iae "=: -.t€1--@--@__@-- --L€-r-- I I @ ra I I,,e] I I @_l E] eg Iel IBl @ @I @ I I I I @ @ I I I I I I I IBI i I @!

I I Lei I I @i i I @l iBi Ir€ I IP @ B Lel I , I I Kej !

IB!

t\ il I @ iE i\=J l I I @ I?at l\=l ef!


rEt I I I @ re, I l L@ IBI @ I @ I I I .ei (g I I 7.Al i\:21 @ I I I I @ I I @l I I I I @ @ IB I I t l\=l I I I I I I I I @ @ @l l @ @ k=l I I I eri LE I I @ I I L(B Annexure I Guidelines for Biddin g and Procuremen t Procedures a.
The Borrower may conduct competitive bidding procedures in accordance with prevailing procurement laws, rules and regulations of the Bonower,s Country to ensure that the award of the Eligible Contract to the Seller is made in a fair and transparent manner; the nrles and regulations of the borrowing country relating to competitive bidding should be clearly defined and details of which should be provided to Exim Bank in advance; b.
The Borrower shall award the Eligible Contract to the Seller based on competitive bidding process.

The bidding should be restricted to lndian companies registered in India and or incorporated./established under any law in force in India.
However, if such entity is blacklisted by any multilateral agency or any authority in India or the Borrower's Country, such entiq.will not be eligible to participate; c. The Borrower shall forward a complete set of the prequalification criteria and tender documents to Exim Bank for its approval prior to the stalt of the tender process; d. Tender documents will need to be complete in all aspects and shall not be restrictive in nature and shall enswe greater participation from Indian companies.
Payment terms shall be linked to milestone achievements under the Project.

Exim Bank na.y restrict the advance payment up to 20% of the contract value.

1070 of the contract value *'ill be retained and disbursed only after the installation and commissioning of equipment supplied under the Project.
Payment terms shall include liquidated darnages in the range of l-5% of the contract value for delays; e Ihe Borrower shall express the bid price only in Dollar (US$); f. The Borrower may draft the contract with scope of works and price and payment schedules on lines similar to the DPR and the tender docunents.

Under the broad expenditure heads generally stated in DP& the contract should iaclude suitable sub-headings of expenditure to define the costs more precisely.
Any deviation in the contract vis-A-vis the DPR anC the tender documents should be supported with detailed justifications for such deviations.

g. Exim Bant< shall analyse the draft contract to ensure that the same is in line with the DPR and the tender documents.

In case of any discrepancy, the same wili be referred to the Govemment of lndia after obtaining clarifications from @ DLoCA-Fixed Rate.

I t0816 G3 -Le--@-i- @ !1E' CL IICONS].


: =--=_- -ll - I .o ,}, r E--..-.-.-..- '_ @ I LE @ I I LE I I @l @l I I I I @ @ IIB teI i L @ I @ I I LE lAl @ IteI L i i'€ I I I@l i I I I t(B tgi @ IBI Ire I I,@r I IBI I r@l I i t@1 I IB I R@l ,.-|, I&) I IB -lBI IB @l BI IBI @ I I I I I I I @ ,B reI @ @ @ @ I I I I I I @ I I @J @ !

re-l I I I i I I @ I I I @ IB E-t Itg IIB @ IBI IBI @ IB @ I I I I @ r€r I I I I @ the Borrower.
Exim Bank may, if required, provide its inputs to the Borrower on &afting the contract.

h. Exim Bank will invite Expression of Interest from Indian companies/entities and rmdertake a pre-qualification exercise for each project.

The list of pre- qualified companies /entities will be provided to the Borrower.

The Borrower shall invite bids from the pre-qualified companies / entities.
After the bidding process the Borror+er will submit a copy of the draft contract and the bid evaluation report to Exim Bank.

.

Exim Bank shall analyse the said report to ensue that the contract is being awarded in a fair and tansparent manner and convey inclusion ofthe contract under the Credit to the Borrower; j.
In the event ofany deviation from the procedure ofbidding, the Borrower shall provide a detailed justification for the same to Exim Bank, which, in tum, will seek the decision of the Govemment of India, regarding approval of such contracts.
k. 'Ihe Borrower shall award the contract in accordance with fair and transparent evaluation criteria and procedures, Exim Bank would reserve the right to keep in abeyance all contracts that are violative ofthe norms ofthe transparency and fair competition; The contract is berween the Borrower/its nominated agency/Buyer/executing agency and the supplier or contractor from India whose selection is the prerogative of the Borrower.

Exim Bank shall not be responsible for such selection.
The responsibility for the implementation ofthe Project and therefore for the award and administration of contracts under the Project rests with the Borrower.

6\\p I !

I I @i r*@l I f.@i I I I I iei @ IBI @ I @ I I I i I I I @ @ Iet !|eI @ I I IA I I @ I I I I Eel I LCB I er @ B] IB tel I I L@ I e€ IB] @ I t iucr rrcot6 ,.J {.

"ii I @i 5i G.\, , ir r ,'A'1 '., 1. t, \.

DLOCA-Fixcd Rdc.
DLOCA-Fixcd Rdc.

I l0El6 -32' --g-- @- -B--@--ter-- e--''B--B--@* i@--r.el i@- -rtB: - -i'€--r€--B- -le--@_-@ I k-at I BI I Gg i I I I @ @ @ IBI @ Ig @ I I I I I I @ B @ I I I I I @ @ IBI @ IB Ie Ig @ I I @ I I @ j @l @ I I I I I I@ IBI IB @ I I I I I @ @ Iel I I I I ,: Annexure II CONTRACT INCLUSION (On the letter head of the Govemment of Republic of Sierra Leone) DETAILS OF THE EXPORT CONTRACT TO BE FINANCED UNDER CREDITAGREEMENTDATED BETWEEN (NAME OF BORROWER) AND EXIM BANK - us$ FOB/CFR/CIF/CIP 1.

2.
2.

J.

4.

5.

6 7 8 9 No.

and Date of - Contract Name & Address of Importer Name and Address of Exporter Currency of Contract Value of Contract (, FOB (ii) Freight (iii) Insurance (iv)Total CFR/CIF (a) Defened Credit (100%) : (b) Period of Deferred Credit : Description of Goods Delivery Period Pre-shipment inspection agency.

i0.

Credit Period Required (Name & Signature of Authorized Signatory/ies) @ DLOCA-Fixcd Rare.
I loEl6 -ei--,e- {: N.- ,'='n ' ' qL-.,-..- /sk 2 5 C.q r.'( t) if 4U I .13- -@- -g:rB: B- @r:te- B - -'e_.

IB -iB--@:B-- I !

@ @ I Lel I @ I I !

I I t_e @ @ @ @ BI @ I I I I I I @ I @l I I I @l @I @l IBt I @ I I fE l @ Ie] I @l l@t\2) I ,-e L,g I I Bi @l Iel B \l lel , I I @ iei e @ @ I I i@', l IBI I I I i@l I IBI Ig IBI @ I I @ I I I I @ I, l I I @l I I @ B ; I Iti,sl I @ I i I !
I IBI @ Ile @ IB @ BI I I I Iql @ i i I I @- er__@--@r..@ Annexure III DR/IFT OF PA}']\{[NT AT]TH o TION (On the letter head of Govemment of the Republic of Siera Leone) Export-Impod Bank of India Address Dear Sirs, Re: Dollar Credit Line of US$ _.
Under the Dollar Credit Line Agreement daled Contract valued at US$ between (Seller) and (Buyer) We u'ish to inform you that the Seller has presented to us its invoice duly certified by in respect of *advance payment under the Buyer for an amount of US$ the above contract / *supplies made / *services renderd by the Seller to the Buyer / *payment ofretention money under the above contract.
We hereby inevocably authorize Exim Bank to make payment of the said amount of US$ _ to the desigrated account of the Seller in accordance with the payment instructions that may have been given by the Seller to Exim Bank.

We agree that the amount so paid by Exim Bank to the Seller shall be deemed to be an Advance made by Exim Bank 10 us out ofthe Credit and the date on which Exim Bank shall pay / remit the amount from Mumbai shall be deemed to be the date of such Advance.
We request Exim Bank to advise us the date and the amount of the Advance soon after payment is made by Exim Bank as aforesaid.

Yours faithfi:I11,, *Please delete whichever is not applicable.

(Name & Signature of Authorized Signatory/ies) I @l @i I .=e_l Lei I i-@j I I I I leI @ TBI IEiI @ @ IBl IB lcg B @l i I i @l if€l I EJ I @l IelI l..e] le BI iel Ig I L€] I I I @ E I ra 1 5i6,1.

-.

".. z ' d.\, F' _a \ .

.

/;.. K€ I @ )LocA-irixod Rare.

I 10316 34 !


IBI @ I I KE I I I I B Irg @ @ @ IB @ IelI @ I I I I I I I I @ @ i@ @ l @ IB fi@ I I i @ @ I I I i BIq @ IBI @ ,BI IB g _l ,Bl I !

I @l I I @ 1 I @ iBI IBI IBt @l I I I I i @l B B @ IBI @ Ire t@ I I I I @l I(B I I I I BJ le rgl Irg e€ ltg le lBl ei--@--@-@--@t--B--Kej- er--B- lB--@ -@- B t@ (On the Letter Head of Legal Co"nsel of Government of the Republic of Siena Leone) F OF L BO WER Aanerure IV Date B:I Ref.No.
Export-Import Bank of India Centre One Building, Floor 21 World Trade Centre Complex Cuffe Parade Mumbai - 400 005 P.e Cledit Lioc of to I, Q,{AME), a Counsel and Legal Adviser to the Ministry of ("the Govemment") have examined a copy of the Doliar Credil Line Agreement ("the Agreement) dated between Export-Irnport Bank of India (Exim Bank) and the Govemment ("the Credit") a$eed to be made Govemrnent of for a Credit Line of availabie by Exim Bank to the Govemment.
In corurection with this opinion I have examined the constitution, laws, decrees, judicial decisions, rules and regulations of ("the Repubiic") and such agreements, instruments, documents and other matters as I have considered necessary or desirable for the opinions hereinafter expressed.
Based on the foregoing, I am ofthe opinion that ' (a) the Government has full power and authority to execute and deliver the Agreement and to perform its obligations thereunder; (b) and / Mr. Mr. Mjnisrry* of Govemment of the Republic who has/trave signed the Agreement on behalf of the Govemment has/tave full power and authority to execute and deliver the Agreement and all documents pursuant thereto in the name and on behalf of the Govemment; the official(s) representing the (c) all legislative, administrative and other govemmental actions and statutory and r-.
:n other approvats and permissions required in the Republic for (i) the execution -) and delivery by the Govemment of the Agreement and all tff,0N0l.t;: rt --- ',/rr.

., &k-- - DLOCA-Fixcd Rarc.

I 10816 --Lei--B--@.-KB:r-ej (;j.....rt.
rs-\-Bi@:; I I I I i I I I I @l @ @ @ pursuance thereof, (ii) the borrowings by the Governrnent under the Agreement and (iii) all payments to be made by the Govemrnent in accordance with the provisions of the Agreement, have been obtained and are in fi.rll force and effect u/ithout any restriction, and the Agreement as executed and delivered constitutes a valid and legally binding obligation of the Govemment enforceable in law and in accordance with its termsl LtB'-eil -@,' -@r--@ -_@__@--iej--@-B--@_- Bl- r@F-@r--@-'@-'@--@ -el--F l-ct]pl trIB BI @ !ig @ @ BI iBI @ @ @ IBI (d) the Govemment is subject to civil and commercial law and to legaVarbiuation proceedings with respect to its obligations under the Agreement and all documents executed pusuant thereto, and the borrowing of the Credit, execution and delivery of the Agreement and the performance by the Govemment of its obligations thereunder constitutdwill constitute private and commercial acts and not govemmental or public acts; @ B] @ @ @ neither'.he execution and delivery of the Agreement nor the performance of its obligations under the Agreement nor compliance with the terms and conditions thereof will (i) conflict with any present law, regulation, treaty or rule of the Republic or any order of any judicial or other authority, (ii) result in any breach of any of the terms of, or constitute a default under, any agreement or other instrument to which the Govemment is a party or is subject or by which it or any of its property is bound, (iii) result in the
 creation or imposition of any encumbrance on any of the Govemment's property assets or revenues or (iv) require appro,,al of any other lenders to the Govemment; @ te @ @ (e) I I I I I I I I I I I I I I I I I I I I I I @ I I @ @l I rel I I I @i B @ I I I I @ @ @ Ie1 €l eI i I iren ..1aq.
i3IL (0 the Govemment is not in default under any agteement to which it is a party or by which it may be bound; (g) the obligations of the Govemment under the Agreement and all documents executed in pursuance thereof, constitute the direc!
general and unconditional obligations of the Govemment and, with the exception of priority enjoyed by obligations which are mandatorily preferred by law, rank and will rank at least pari passu with all present and future unsecured indebtedness of the Govemm.ent; (h) it is not necessary in order to ensure the legality, validity, enforceability or admissibiliry in evidence of the Agreement in the Republic that it or any other document be filed, notarised, registered, recorded or enrolled with any court or authority there or that any stamp, registration or similar tax be paid on or in relation to the Agreement; *(i) there is no restriction imposed in the Borrower's Country which limits or prevents the transfer of foreign exchange by the Borrower for the purpose of performing any of its payment obligations under tle Credit Agreement; OR r, llcoNcli ;f 1h @ DLOCA-Fixed Rate.
llo816 -36- \ I I5 2t --B*Gl--e --B- 1@- @ --B- - el--@-@:B- -rC- ' tl.r -O e' -r - - --.
'-' "" ;r1:r, =;.i;si.-E#; i EB iel BI IB @l I I I B_l I@ IBI @ I I @ I I I @ IB I I @l @ I - @ Ie \?B I I I I I I I Gjj J t(€ iG) i-21 i @ Ie @ @ I I @ @ @ @ @ IBI B @ !el @ I I I I @ I @ I '\5jI @ I @ @l I I I I I @ @ @ I i I I I I @ IBI I@l -@ .l :@ I I I I @ Ie -L- €i I *(i) although there are foreign exchange restrictions under the laws ofthe Republic on the transactions contemplated by the Agreement, the Govemment has made satisfactory arrangements to ensure that requisite amount of foreign exchange will be available to enable the Govemment to meet its liability for making payments when due under the Agreement; '(Please delete one of the Clause (i), whichever is not applicable) *0) under the existing applicable law, there is no income-tax or other tax in the Republic imposed by withholding, which the Government would be otherwise required to deduct from or pay on any amount of payment to be made by the Govemment under the Agreement; OR "0) under the existing applicable law, there is income-tax in or of the Republic imposed by withholding or otherwise, which the Govemment would be required to pay in respect ofany pa;urent when made by the Govemment under the Agreement or is imposed on or by virtue of execution, delivery or performance of the Agreement; it is however permissible under the laws of the Republic to gross up such payments so that Exim Bank can receive such palment from the Govemment which it would otherwise receive had there been no withholding of tax to be made by the Govemment; (k) or (l) (m)
 *@lease delete one of the Clause (j), whichever is not applicable) it is not necessary under any law, rule or regulation of the Republic (a) in order to enable Exim Bank to enforce ils rights under the Agreement O) by reason of Exim Bank entering into the Agreement or exercising its rights or performing its obligations thereunder that Exim Bank is required to be licenced, qualified or otherwise needs to carry on business in the Republic; Exim Bank shall not be deerned to be resident, domiciled or carrying
 on business in the Republic by reason only of the entering into of the Agreement or the exercise of its rights or the perforrnance of its obligations thereunder; neither the Govemmenl nor any of its properties, assets or revenues is entitled to any right of immunity or privilege liom service of process, attachment (whether prior to the entry of or in aid of execution upon a judgement) or set- off, arbitration proceedings, judgement, execution, or from any other legal process in the Republic on the grounds of sovereignty or otherwise, and the r"g I i(3l BJ I Vtel I (@t I I @ I L=l I @l I I I @ @I .B @ DTOCAJ:iXeC Rste, I 10816 ' 3't - --GB_-,@-f - tB--[C--@i @]--.
r--@--r@:@-@- @ (.

IC N 1,it, t;/, ._ --.,)i1l BJ \.. l:,_*,-\fu .fB1-;€.

r ;r@--63 "--1"-= * l .
r--€l--@'-,ee--@i--@,--@--B--@-8,*@--LB--te-'le-rel-@--B__@--B-- c-qj @ IB waiver contained in the Agreement of any right qf 5us[ immrrnity and privilege by the Govemment is irrevocably binding on the Government; (n) the choice of Indian law to govem the Agleement and all documents executed in pursuance thereof is a valid choice of law and the agreement by the Govemment to submission of any dispute to arbitration is valid rmder the laws of the Republic; (o) any arbitral award obtained by Exim Bank in respect of any dispute arising under the Agreement shall be conclusive evidence of the amount of its indebtedness under the Agteement and will be recognised and enforced in the Republic on the strength of a duly certified true copy of the award in accordance with the ordinary procedure applicable under the laws of the Republic for enforcement of foreign a6iEal award, without any requirement of filing 3 suit on such award in the courts ofthe Republic.
The opinions herein expressed are limited to the matters governed by the laws of the Republic as applicable to the Government and I express no opinion as to the laws of anv other jurisdiction.

Yours failhf.rlly, (f{ame & Sigaature of the Legal Counsel) I I I I I BI B Kg @ @ @ IB @ @ B] IBI IBI @ I l I t !

I 'el i6et I !

@l ei f€-, |ei tr l\-l I @ ra I i @ !

rl@t I @l I I @ DLOCA-Fixcd Rate.


I 10816 -3t- ,:9.,9$9,re @ I I I I @ r€ IeI GI IBI @ t I I I I I @ BI @ I @ I I I I I I I @ @ IBI @ I I I I @ I @ @ I @ @ I i I I I @ @ I I a I I @ IB I t@a I 'l -!.

@ i@ IBI @ I I !
@ i@ IBI @ I I !

Br--i!€3--rcei--t€--,e--@:@--r@--l@--@:B-_LeJ- (€- i@- r€l--@--@--@l-.-le--@ LE IBI @ I I I i@l rzs L\51 = T @ @ @ I I ran i I I I I I I I @ IB @ I I I I i I , @ @ I @ IBi elI @ I I @ I @ rB I I @ IBi @ I I I I I L@ I IBI 6tr\=i I G I i@ IB I I @ @ I I I (On the letter head of Govemment of the the Republic of Sierra Leone) F SI S FA Annexure-V Rct.Nr:.
Export-lmport Bank of India Centre One Building, Floor 2l World Trade Centre Complex Cuffe Parade Iviumbai - 400 005 Re: Agreement dated _ Extended by Erim Bank to for Line of Credit of USD Date (Borrower) L (NAlvIE), @esignation), ("the Borrower") hereby confirm that the following persons arc, jointly / severally*, authorized to sign all documents thereunder including Payment Authorisations and to represent t}le Borrower in connection with implementation of the Agreement : Name Designation Specimen Signature I I I I I i I I I +Please delete w'hichever is not applicable Stamp @ (Name & Signature of Authorized atory/ies) iE I Ell;i{C,'.1 '.
: r Sr6!r.----- -ltF .jr, c (-- 1r.---.-.-.--..

raa 5:, F?

.

\\ @ I BJ I@l l!2r i@ I I I I I I I @i ra Iel Ire @ iBI @ IB LE Iel Ile el i I I t(ta)l Iel i !

K_g If@ t I B] I I B] IBI i@ B BI B .

@l i ;- B] @ @.

ISJJ i I I DLOCA-Fixcd Ralc.

ll0El6 -39- - e--B- B -8,-,(B--tr:i- --i'- B-@:Bl -B- -@i-- Gl--B- -@: l@l-.-l@r--tr81 L--r t!=, t!2, 1 \H u3 lvl o + l, JI i N L'r