Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698839790039.pdf (Sierra Leone)
@- B--@--@__@--@--@.-@-@--@-B-@--@--@_-@ I I b11- ( I H il I DOLLAR CREDIT LINE AGREEMENT DATED OCTOBER 13,2019 BIlT\1'EEN GOVBRN]\4ENT OF TIIU ITEPT]BLIC OF- SMITRA LEONE ANT) EXPORI'-IMPORT IIANI( OF lNDli\ . ]

I .i> I IBI I tt>l i G?_, I I i I IEI IG Ig @ IB IBI @ !

I I _!..

g B E @ @ E e @ @-e E @ g B--B s B-@_'E @ @ I I I !
I I @ IBI I@, IBI @ IelI BI I I 1F,, I -, =; i:i: I I @- B rel i I 7'e' : I I iBI BI IB @ I I I @ IBI @ I I I I @ IBI @ I@ I I I I G1 G:;[= I @:@--@-- @ --@--@--@--@: @-- @--@-- @-- @--@__@-- @--B--B- @ - C_ BI ehus=eljo Particulars INDEX Definitions Amount of the Credit Eligibility.of Conlract lo be financed oul ol'lhe Credil Disbursemenls out of the Credit Interest Repayment Fee(9 Defaull Inlerest Conditions Precedenl Anti-Coruption Larv Integritl, General Conditions to form part ol Credil Agreenrenl I 2 ., 4.
5.

6.

7 8 t).

t0 ll l2 scr r r ) Lrt-E General Condrtions A N NE\ I.IRES ,{r)ne\ure I Guidelines for Bidding and Procurement Procedures .
'\nnexure II Formal of Contract Inclusion Annexure lll Formal of Paylrent Aulhonsation ENCLOSTJRI'S Legal Opinion of Legal Counsel of the Borrorver u,ith respect to the credit Agreement Il List ofAulhorised Signatories oflhe Borrorvel rvith specinren srgnatures I @i I I @ @l @i I @ I l-rdt t-:2 I I e] I I I Le eI I :=, I IBI I ig 1' '5 #!qI+//' LR1%E..F E g /VISIlo*: t: '\r' l-_ t \ I.
\ $v.i ' ' '::'" G -@- @:@:@--B--@--@__@--B:@__B__@--@'-@ -e__@_-@__B tr THIS AGREEMENI'made as of l3'h day of October 2019 betl,een thc (jovcrrnrcnt ol' lhe Reprrblic of Sierra Leone, represented herein by Dr. l,ntricia Laveriy, Deputy Minister of Iiinance (hereinafter referred to as "the Borrower" ritich expression shall.

unless lhe context or subject othenvise requires, include its successors and permitted assigns) ol the One l>a[l and EXPORT-IMPORT BANK Ol.
INDIA, a corporalion eslablished under the Export-lmport Bank ol India Act.

l98i (an enacrmenl by rhe Parliament of India) md havingits Head Office nt Centre One Building, FIoor 21.

World 'l-rade Centre Complex, Cu(Ie Parade.

Mumbai-400 005, India (herernafier reltrred to as "Dxim Ilank", rvhich expression shall, unless the conte\l or sublect oli)er\\rsc rr.quires.
include its successors and assigns) oflhe Othcr Part WIIIITEAS: (i) ll has been agreed bel\,een the parties hereto for'0re provisron bl,Eriru Bank ol' a Credit to the Borrorver uplo an aggregate sum ol USD 30 nrilhor) (Unrted States Dollars thirty million Only) for the purpose of financing land and inlrastruclure development including hydraulics- water nranagcmcnl svstern (irrigation) and provision of lractors, in lhe Borroser's Counlr\.
sublecl to preparation ol the Detailed Project Report (Dl'R) bv utilizrng up to I'vo ol' th{: I-OC anrounl.
( ii) lhe parties hereto are desirous of recording lhe terms zmd conditrons o l' the ( redit NO\\/' {EREFOIIE l'l'lS HEREBY AGIIEED by and betrveen l]rirn Bank and tltcr Bolrorr er as lolltrrrs - l. l)elinitions: ln lhrs Agreenrent and in the Schedules herelo, unless the conte\l shall othenrisc require- the lollorving expressions shall have the meanings respectively assrgned lo tlrenr as under:- "Advancc" means each disbursement ofa portton of the Credit in accordance t,ith Clause 4 hereof, or as the context ma.v require, the principal art)ounl lhereof oulstanding, " Borrolvcr-'s (iountr1" mciurs lhe Republic ol Sterr:r Leone.
"Ihlsiness Day" means zury {a1,on rvhich banks and Exim Bautk shall retttain opctr for business in Munrbar.

Freetos,n, Nerv York- and London for thc purpose contemplated by the Agreement; (-m I @ IBI @ I I I I I I @ IBI @ IBI @ IBt @ er I I I I I I I I 11i I I t.-G- i\- I I I I I feL I lG-l I 't:, (t!

'1 l I I @ IBI @ I I @ I I @ I I @ I I I @ IBI I (Qi I I I I ..lr', La' ,gj-'-B,.-.
[9--'€- ,/.-, ya> yer yar viE l€' @ @ @ @ @ @ [= 15 E rs3 i> L= s= \=] Ea s:, \= '5 I @ IBI IBI @ I I I @ @ @ I I I I I I G-,1 I I @ IBI E]I I I Ks.i I : E* - fg, t!
:+ 'G:: I IBI I I l\=r ItEt t I I tB) r1-le @,llr-gI Ir@1- BI (@.F lt I -i "Bu1'cr'" nleal)s a buyer in lhe Borrotver's Countn, in relation lo an Eligible Contract: "Credit" n)eans the rvhole or any piut ofthe Credit relerred to rn Clause 2 hereol- zurd u,ltere thc conte\l so recluires- the principal amount thereol outslanding liorl) tinre to tinre: "Detailed l'rojcct Repolt" or'*DPR'means the report fornring the bzsis lor gliurt of the Credit prepared in ternrs o[ extant guidelines issued bv the Governn)el)t of I ndia: "Dollars", "tlSD" and the sign "$" mean lhe larvful curleno' oi'tlre United States ol' Anrel icar "Eligible Contr:rct" me"1ns a contracl as is considered eligrble under Clause -l hereol(o be financed out ollhe Credit: "liligiblc Cootls and Serviccs" in respect of an Eligible (lontract rneans all)' goo(ls u'orks tnd serlices including consullaucy serviccs lor the purpose ol'the Plo.lect in the Borrol'cr's Counlry, l4rich nral,be agreed lo be financed bv lir.inr Bank under this Agreculcnl.
out ol"rvhiclr goods, \\,orks and services ol'the value ofal leasl 75')i, ol'the contract price shall be supplied b1, the Seller front lndia.

and lhe rernainitrg 25% ol'goods and sen'ices ma-v be procured bv the Seller lbr tlre purpose of lhc Eligible Contract from outside India: "Eligiblc V:rlue" means, in respect o[ an Eligible Contract, iu] amount uplo l(X)9i, (one hundred per cent) of tlre FOB (free on board)/CFR (cost & l'reight)iClF (cost.
insrrrance .t I'reight)/ClP (carriage and insurzurce paid to) conlract pricc ol' the Eligible Corrtract, lhat mal be rnade alailable bv l}im Bank to lhe Borro\\er oul ()l' thc Crcdi( rn respect ol'lhat contracl: "Events of Def:rrrlt' n)ezurs anv ol lhe events metrtioned in Section K. I ol' llrd Gerreral Conditions or anv evenl $,hich with the giving ol nolice and/or lapse ol' time antl/or fulfilment of any' other requiremenl may becotlle one of the elenls mentioned in that Section; "FOB/CFR/CIF/CIP" means the sea\\'ay shipment lernrs as defined in lncolenns 2r)t0; "General Conditions" means the ternts, conditions, covenallts.
strpulations and olher provisions set oul in SCI{EDULE hereto which fornr ar integral part of this Agreemenl and be deemed to be incorporaled herein by reference.

!

,F.= t)>.
I I I .ra--fta--@--@--@ -@--@__@--@--@--@*B-@--@__B-@--@-@--@-B IBI @ IBI tBI @ @ 6llntetest Payment Date" means each of lhe t$,o dates during each calendar ),ear lhat may be advised by Exim Bank to the Borrorver after approval of the firsl conlracl hereunder, on which interesl and olher paymenls in terms of this Agreement shall be payable by the Borrorver- I I I I I I I I @ IBI @ I I I @ I I @ I I @ I I @ I I {e) @ @ I I I I Gt-, I I @ I @ e, @ I I {F., ie @ I I @ I I @ I I @ I I @ I I I I I I I I @ @ @ "Interest Peliod" mears, in relation to an Advance or the Credit, as lhe case may be, the period ascerlained in accordance rvilh Section C of the General Conditions; "lnterest Ratc" means One point five ncl'eent (1.507o) per annum at \\,hich interest shall be chargeable bv Erim Bank on each Advance, or as the case may be, on the outslanding amounl of lhe Credit; "lssuing Bank" means a bank rvhich shall in that capacity be issuing letters of credit referred to in Clause 3.1 (d) hereof; "Negotiating Bank" nreans Erim Bank to thich documents shall be presented b,u- the Seller for negotiation under lellers ofcredit and through which paymenl shall be made lo lhe Seller in relalion 10 an Eligible Contract.
"Paynrent Arrthorisatioir" means the authorisalion to be issued by lhe Borrorver to Erim Bank as provided in Clarrsc 4, irrevocably authorizing Exim Bank to nrake pa)'menl of the sum therein mentioned 10 the account of the Seller, rvhenever a pavnrenl needs lo be made lo the Seller under an Eligible Contract; "Project" means the project including supply of goods, works and services including consulting services for l,hich Exim Bank has agreed to make available the Credit, and lhe descriplion thereof maY be amended from time to tine by agreement behveen the Borrorver and Exim Bank; "Project l\f:rnagerncnl Consultant (PMC)/ Consrrltant" means the Indian consultant being appointed b1, the Borrorver for preparation of DPR, procurenrenl of goods.
projecl nranagement as per the specilled needs of the Borrorver's Countrv and 1o carry ou1 an,y other consultancl, services for the Project: "Rcpayment Dale" means, the due date of payment of each instalment of the Credit; qSeller" means a seller in India in relalion to an Eligible Contract and shall include PMC/ Consultant; "Shipment" means an), mode of despatch- l,hether by sea or olherwise, agreed between the Seller and the Buyer; "Terminal Disbursement Date" means the date falling on expiration of a period ,rf60 (sixt1) monlhs afler the scheduled completion date ofthe Project.
A '' \$1V,,?

- :-,/ .1 @ I I I @ IBI @ I I @ IB @ I I I I I I I I @ IBI IeI er IBI IBI IB I I I .,!

I I BI Ie @ IB IEI @ I I @ I I I I @ I I @ I I I @ iBI @ I I I @ I @ IBI ll: F 1Y MINIS u Eto $lda/.

nl .\ ,;\ Si*YoF Fr$ -l I I I I I 2.


@--B--@--@-@:@--B-e:@--@__B-B--@--@--B:B -@ -@--B-@ IBI @ IBI @ IBI IBI IBI IB Exim Bank agrees lo exlend to lhe Borrorver and the Borrorver agrees to at,arl lrom Exim Bank a Credit of USD 30 million (Dollars thirty million only) ro finance purchase of the Eligible Goods and Sen,ices upto the Eligible Valrrc ol' each Eligible Contract on lhe terms and conditions herein sel oul.

Amorrnt of the Crcdit: Elisibility of contlact to be financed out of the Credit: 3.

I I !
I @ I-@ @ @ @ I I I I I @ -@I 74, I I BI I -l I r.c,"-t I I,a @,s=l I I I I r re I I I I I I : IeI I 2 I I @ I-EI Ia IE I I I a I 3.1 A conlract shall not be eligible to be financed oul olfte Credit unl.rss - (a) it is for tlre import of the Eligible Goods and Services int,, the Borrorver's Country and in lhe case of anv contract rvhich inciudes rendering of consultancy services, il provides fol sorrrcing consultancl sen'ices lrom lndia, (b) the contract price is specified in Dollars and is not lcss thln $ 50,000/- (Dollars fifq, tllor.-O only) or such amount as rlar liom time lo limc be agreed upon between the Borrorver and Exrnr Barrk; (c) (d) (e) (r) the BorroNer has conducted a lransparenl, non-discrimrnrrtor\ aDd fair bidding process for seleclion of lhe Seller for executron ol'llte conlract as per Guidelines tor Bidding and Procurement I)r oce(iures given aI Annexure I.
The Borrower hzs ensured that the lendcring process for selection of Seller on the basis of project product specificalions and eligibilitl, criteria has been developcrl br the Borrorver in consuhation with Exim Bank 1o make the rendering process fair and competitive.

The Borrorver has also |r,)\lded a confirmation lo Ex.irn Bank to the effecl lhat the Seller has lreen selecled b1 the Borrou,er through a con.rpetitive biddinl prt,cess along rvith detals of the procedures adopted for selectr!
'rr ul the Seller including the price bids received, the rveightages .rud ,,ther relevant critcria adopled in the final selection ofthe bids; the contract requires the Buyer lo mahe payment to the Seller of 100% (one hundred per cenl) of FOB/CFfuCIF/CIP contract price of the Eligible Goods and Services, pro-rala against shipments.

t,) be covered under an irrevocable letter of credit in favour oftht Seller.
the Borro\\'er hereby confirms to ExIm Bank that tht' Elillible Contract shall be esenrpt from all kinds oftores, levies and dutit:s of any nature \\hatsoeYer levied in the Borrorver's Country, the contracl provides for the Buyer lo cause the Borrower lo issue a Payment Authorisation to Exim Bank to enable the Seller to claim I @t I @ I @ I I I I @ IB el Itr BI Ira I @ I I @ Ie l!t Iel @ I I I @ I I I @ IeI IEI IBI @ tBI IBI @ IBI I I t @ -->-1i---a--' ' ' t-r-;f[(i1 Nt; ;'"' i1 _#;,gi-r-:'.-_- .l t r':r.i; .
,'i i't]. '

','l!:!t!
,Aat: '€lE€;:F,' -5- trv e@eesseBBEE I -.=r E__E-G € I I I paymenr lrom Exim Bank oflhe Eligible value apporlrutabld lo lhe amounl of invoice for such Eligible Goods and Services or as the case ma) be, the amounl of advance paymenl; (g) the conlract contains a provision that the Eligible Coods and Services shall be inspected before shiprnent on behalf ,,1thc Buyer and the documenls to be fumished by the Seller 10 the Neg,)tiating Bank unrler the leller ol credit arrangenrenl referred 1o rn suh-clause (d) hereir, shall include an inspection certificale; -B-@-@-@--@:B --@--@:@--B-@--B--B__B_-tr -ee--@-@-B @ IBI IBI IBI IBI IBI IBI IBI IBI @ IBI IBI IBI IBI @ (h) the conlrircl also contains a provision lo the effecl thar Exinr Bank shall not be liable 10 the Bu)'er or the Seller for nol berng rble to finance prrrchase of the Eligible Goods and Services or iln\ l)ortion thereof bv reason of suspension or cancellation of arrl undrawn amount of lhe Credit in terms of this Agreemenl; the Borrower has senl to Exim Bank brief details of tht conlract in the forn,at al Aunexrrrc II and such other docunrents and informali 'ri as Exim Bank n:a1' require in this beha.ll anr: Exim Bank has.
in rvriling, conveved inclusion of the conlra,.

t un.ler the Credit indicating the Eligible Value thereof: the contracl conlains a procuremeDl and operationlrl pl.rn for implemen'alion of the Prqect.
0) (i) I I I I (k) (l) lhe conlracl has been concluded within eighteen monlhs ll,)m the date of this Agreement; Exim Bank shall have received fron the Borro\\,er the l. rlal t ptnton as per Enclosure I ,!- Details of any anrendnrent to an Eligible Contract agreed 1o b\ the Darlies thereto shall also be fumished by tlre Borros'er to Exim Banl alorrgrvith evidence of approval of the amendmenl b)' the Borrorver.
Prrrvided, however, 0rat Exi'n Bank's approval hereunder nray nol be necessal' rf such amendmenl is onr), a variation of technical specifications of rhe Lligible Goods and Serviccs to be supplied under the contracl that does n,r1 intolve a change in the val.re, scope or objecl of the contracV paymenl tcrms The Bonolver shall, ncvertheless, advise Exim Bank ofany such amertdtrlerll 4 Disbursenrents out of the Credit: 4.A Eligible Goods and Serwices covered by lctters of credit: 4.A.1 AII letters of credit in pursuance of Clause3.l (d) hereolshallbe ttpened @ I I @ I I I @ IBI IBI IBI @ I I I I @ IBI IBI IBI @ EI B IS, I I I I I @ IBI @ t I 6i I I e. BI @r I I I IeI IBI @ I @ @ @ @ @ I I I I I I I I I I I I Eq -6, q uI Y MII{ISI 6!a * !
*[*u :.--.

{l%:ffi€il.#ile e @ e ,g: tEr66(A6@ i\- a> l\=, E= t= L= l-r=g N> -A l-n [= I @ IBI IriI IEI @ I I @ IBI @ I I I I @ IBI @ I I I @ I I @ I I I @ IBI I t-- L= -@-@-@:@--@:@--@_@--B-@-@--@_B:@--e I @ IBI @ I I I I I @ I @ IBI @ I @ @i I I I I I I I ret IBI @ EI I I I I I I I E:1 I I @ @ IBI @ I @ erI @ I !
I I I I -@,I @ B {qt I I .t @ I I I I I I -G, --@-@:B IBI IBI IBI @ IBI IBI tBI ei IBI IBI @ I I I by the Issuing Bank in favour ofthe Seller within such perioti prior to lhe relevant Terminr,l Disbursement Dale as may be agreed br, Ilxinr Bank afler the relative contract is included by Exim Bank under the (lredr1.

The letters of credit shall be advised and negotiated through the \egotiating Bank.
The letters ofcredit shall be subjecr to the Uniform Crrstorrs and Praclice for Documenlary Credits (2007 Revision) published by rhe Inlemational Chamher of Commerce, (Publicalion No 60t)) ,nd strall be irrevocable.
Each le(er of credil rvhich shall be for an amount tlrat shall coYer the conlracl price, shall provide for paymenl lo be made io the Seller against presentalion of documents as specified in the lelter of credit, confirmation of lhe compliance to slipulaled Indian content ,equrjemenl issued by PI\,lC/ Iluyer and Payment Authorisalion; 4.A.2 Upon presenlalion of documenls by the Seller to lhe Negolrirting Bank, the Negotiating BanI shall pay lo the Seller, an amount being nor more than one hundred per cent (1007o) of Eligible Conlracl value al)portronable to lhe relative invoice x reduced by the amounl of advanc.'
Pa\ menl/ relention nroney, if any, in equivalent anount al tlle rale of exclriurge of the Negotiating Bank.

by credit lo the account ollhe Seller rvith strch blnk as ma1.

be specified by it, provided the documents presenled are rrr ot d.lr and are complianl wit\ the relevant letler of credit.
4.43 The arnount ofdi:bursement that shall have been made by Exim llanl as the Negotiating Bank as menlioned in Clause 4.A.2 shall be deemcd lo be an Advance made bl Exim Bank to the Bororver out of the CrcdiL arld the date on which Exim Bank pays or remits the amount lronl Murnbai to re Seller shall be deemed to be the date of such Advance.
Exim Banl shall therealler, advise the Borrorter ol the date and amount of Adr:utce The records of Exim Bank as to the parliculars of disbursenrents ar)d act:ounls shall be final and binding on the Borrower save lor manifesl erroi 4.
A.4 Bank charges- e\penses, commission or slamp dutl' pq'able ' tutsr(le the Borro u,er's Coun'ry shall be to the account oflhe Seller and th"se , ,tnb'" in the Borrower's Country shall be to the account of the relevanl Bu\ r'r' 4.A 5 Erim Bank shall in no tvay be liable or responsible for any acl i,r onrssion in handling the let'er(s) ofcredit or negotialion ofdocuments thereundr:r' 4.8 DisbrrrsenrentsagainstPaymcntAuthorisatiolr: 4.B.1 The Borrorver shall on receivlng (i) a request fiom the Buyer to release advance payment Io the Seller, in the tase of lhe amount of advance payme under rrn Eligible I I B, I I E':l t I@ IBI B IBI IEI ,E,.
I e!!

IBI @ I I I @ I I @ I I I I I @ IBI @ IBI IBI @ I I I @ I I I I I Ire '@ I\@ Ll @ L&"it'f.

# ili i sr ir'' :' :r- ;i"EH,lr, ciiFri.

.

.
:., i 't@;,ff8';FiW'@ B B @ g B B B B @ B E-B..G -l I I I -t BI @ IBI -@ IBI EI @ I I I I @ -@I @ IE _t I I I I Contract (where such advance paymenl is agreed 1o be lrrrancr.d out of rhe Credil), (ii) an invoice from the Seller duly certified b1, the PMC rnd lluyer representing the amounl for supplies made, works complcred and/ or sen,ices rendered by the Seller and confirming the comph;rnce Lo the stipulated lndian content requirement under an Eligible t ohtrlct in lhe Borro\\,er's Countr1,, 61, @:@- @:@_.
@--@-B--@__@-B:@-@--@-@--@--@ B-@_@:B IBI IBI IBI IBI @ IBI @ IBI IB!

IBI IB tei BI @ 4.B.2 Exim Bank shall on receipt of the original Payment Authorisauorr t,lthe Borros,er lransfer lhe amounl mentioned therein to tlre credit of tlr.

'Seller in such accounl and rvith such bank as the Seller nray have nolifi((l lo Exim Bank send Paymenl Authorisation favouring the Seller to Exim Bank in rhe Iirrmal giyen at Annexurc III for lhe amount of the Eligible Value apporrronairle to lhe relelanl invoice/ request.
(iii) a request from the Buyer 1o release retention mone)/ t(' thc Seller under an Eligible Contract, I I I I I I !

I I @ IIE' Ir; I I 4.B.3 The amount remitled b1, Exim Bank to the Seller pursuant lo th..' Pa\ nrent Authorisation lbr accounl ofthe Seller as aforesaid shall be deem.
'J to ce an Advance made b),Exrm Bank to the Borrower out of the Credit, arrd thr date on rl,hich Exim Bank shall pay or remit lhe said amount from Murnbd ro the designated account of the Seller shall be deemed 1o be the datc ol such Advance.

Exim Bank shall thereafter, advise the Borrorver of llr.

dali alrd amounl of Advance.

The records of Exim Bank as to the .rrllorrrrl of disbursement(s) zurd parliculars in the Borrorver's accounl shall b final and birrding on the Borrorver save lor mani[es1 error.
4.C Notu,r thstanding an],thing contained hereinabove, Exim Bank srrall tr,.rl be obliged to make anl,pavmenl lo the Seller afler the relevant fcnrrinal Disbursement Dale or other$,ise in excess of the aggregate amorrltl r.l'lhe Credit facility.
The Borrorver shall therefore, ensure thal Eligiblc Conrracts shall be concluded in such a manner that letler(s) of credit in reslrecl r,f the Eligible Contracts shall be opened *.ithin the period specified ,n CIause 4 A.l or as the case may be, Payment Authorisation shall be rc.,eived by Erim Bank and disbursements in respect of the letters of credit .u:d rinder the Payment Aulhorisation can be made by Exim Bank on or hetbre the relevant Terminal Disbursemenl Date and lhat the aqgregate Eligrhle Value ofthe Eligible Conlracrs does nol exceed the limit ofthe Credit.
4.

D No part ofany Adlance(s) made under the Credit shall be applicd tor"ards payment of any taxes, whatsoever.

i I l@) I I te, I I @ i l- fSr e, I @ I I I I I @ IeI i @ IBI @ IBI IBI I I -8, I I IBI I r-@-B:{8"€.

"8 B g @ e @ e e @ e e e 3 @ ''.- ,r.-;1.,; 1,,: , '..:r .-..- L= i!5 I I I I I I I - Fe, @ -@ @ -i ei -;i:>l BI - t(<a IBI I-@ I I I I @ I @ rd I I I I I @ I-@ IBI @ I ..@.

I ,.'

l I I I I I I I I I I I 5.


Interest: @ BI @ I@ 5.1 On each lnteresl Paymenl Dale i.e- May l0 and November l0 ot eaclr year, the Borrorver'shall pay to Exin, Bank inleresl accrued on th.i prrncipal amounl ofeach Advance or- as the case may be, on the arnount ol the Credjt oulstanding during the Interest Period relating therelo at lhe Interc:il Rirte.
@:@--@--E:B--@--@-@-B--B--@-- @--@--@-@:B tr --B--B--B IBI @ IBI @ IBI @ IBI IBI Ig IBI IBI IBI IBI IBI IB Inlerest on other monies u,hich may not be paid rvhen due undt'r lhe provisions of this Agreement shall also be payable on the rele\.

!nl Interest Paymenl Date in the manner specified for palrnent of interest.
Interest shall accrue from the date oleach Advance and shall b( calc.rlated on the basis olthe actual number of da1,s elapsed (including the lrrst tiay of the period durir:g t,hich it accrues) using 360 days a year faclor.

All interest on lhe outstanding amounl of an Advance or the Crcdit.

rs the case may be, and on all other monies accruing due under the (lredit Agreement shall.

il not paid on the respeclive due dares, carrr fttrther interest al the same rate as specified above.
computed from lhe resp(clive due dales and shall become pa1'able upon tlre looting of con:potrtld inlerest rvith rests taken or made half-1,ear11,, rvithout prejudice to the pr, visir ns ol' Clause tl belorr.

@ IB I @, I 52 5.4 5.3 I I I I 'l I @ I-B @ I 6.

Renavnrcnt: The tsorros'er hereby agrees and covenants lo repay lo Exim Bank the trutstarrding principal anrounl of lhe Credit after a moratorium ofFive (5) years from the dlte o[ first Advance.
in successive half-yearll' substantially equal inslallments ()Yer such period not erceeding trvenlr-five (25) years (including the moralorium pt'rrod) lrom the dale of firsl Advance ls t'nat be agreed betweer: Exim Bark and the []or()wer' al lhe time of appror al of the first Eligible Contract, the firsl of such ilr'(allrrtelrts falling due for pa)'n]enl ort Ma1' l 0/ Notelnber l0 immediately foll"s inrl tlre expiry ofthe aforesaid uroratorium period.
Exim Bank shall advise the Borro\\erof the repaymenl schedule relating to the Credit soon after disbursemenl ol'the firsl Advance.

Provided Hollever that il lor any reason the aggregate irtllourrl of Advances finally disbursed by Exim Bank shall be less than the amounl of ( redit facility agreed to be provided by Exim Bank to the Borrorver under this Agreerrrent, the arnount oIthe aforesard repaymenl instalments of the Credit shall sta.rrd reduced in the inverse order of therr ntalurit\'.
I-eI IBI -:[g I I I @, I I;.

: I I (et, I - I I I-@ @ -l @ @ I I I I I I @ -@I @ I I _t @ 19 I I @ I ,0r Y MINISIE p + \ ) 9 B@,@[> [> l:=, ggBB@EESE--E:E I F:T I L51 I I I @ IB iBI I Lq '(€.

i [eI-l.' IeI @ I I I @ I I @ I I @ I I I @ IBI IBI @ I I I I @ IBI I I I B--@:@--B--@:@--@--@:@--@--@--@--@--@-@:@ -@ -B-@--@ iBI IB -BI @ @ I-BI @ 7.1 Commitment lree: @ IBI rel Fee(s) 7 I I I I I I I I I I I I I I I I I @ IB er I-triI @ _t g Ie IBI I_Ei @ I-B @ BI I I I I I I tz.-n 1...=l I @ I I -.
@ I I {@ I g Ie -tBI I The Borrorver sh:rll pay to Erinr Bank a corrunitmenl lee al rhe ri,te ol" 0.50% (fift), basis points) per annunr on the amount of Credit rem:rrning undrarvn in respecl of each Eligible Contracl.
The commitmerrt fee shall begin lo accrue from expiration ol trvelve (12) months lrom the drrte ol approval of the relevant contract by Erim Bank and shall cease,,n th( date offinal disbursement oflhe Eligible Value ofthe Eligible Contrari or ( n lhe Terminal Disburscment Date relating thereto, whichever is elrrlier The conrmitment fee shall be payable on each Interest Paymenl Dale alonrlwith half-yearl1, interesl as specified in clause 5 hereof following thr exprry ol the said period oftrvelve ( l2) months.
1.2 No portion of commilmenl lee shall be refundable by Exim B:rnk t,r the Borrorver even if disbursement ol lhe whole or any part of the Elrgible Value of an Eligible Contract nrav not materialise for an,,, rtason whalsoever.

8.
8.

Default Inter cst 8.1 Ir.2 If there shall be a delault b1, lhe Borrorver in lhe payrnenl of an rrstallrnent of principal- interest or an)' other monies rvhen due under this ;\greerrrent, the Borrol,er shall pay to E\inr Bank additional interest on thc defaulted amount(s) from lhe due date to the dale of actual payment (as $'tll alier as before judgement) at lhe rate of ZYi p.a.

(trvo per cent per annun) ) ove and above the lnleresl Rate.
Interest at the rate as aloresaid shall accrue li onl day to dar calculated on the brsis olthe actual nunrber ofdays elapsed and year [ac1or.

sira,l be r{r0 d.lys a 9.A.
Conditions Pleceden t: Exim Bank shall deem a conlract as eligible for being financed under this Agreement and shall disbrrrse monies lbr account of the Borrower rubit ct to the following:- (a) Exim Bank shall have received from the Borrou,er confimration that the Project complies rvilh laws and regulations relatinl' to environrnenl, social ard governance matters as applicahle ir the Borrower's Country; (b) Exim Bank shall hai,e received from the Borrorver confirnralion thal \ 1.
"\ - I0- -Q \Iq I I a6 G= @taF@@ l\: s: L:=r L: r:= I I I I I I-B IcI @ --;.:.:.

'- '-:-; .- .

)r:'.1.

7-{,'l i\iiiil.s i: " ' HIY>'"'*-- -* 7.#^t, :j'*r/' -'-=:--;.-'-" I I IeI IB IE @ IBI IBI rg I I I trjl I I Ea I BI BI IBI I I ll.=,: I ?el I IG' I I I I I @ IeI @ I I i @ I I @ I I I @ IBI @ !

@ !

I € I -@I @ -@ I I I I @ @ I I I I @ IBI I I I @ -_lre) I I I @ - I I @ IE) N== 6 I F',-el!
-a iel @ I I @r i L=€5 ,t - is- Ei @ I I I @ I @ I I t@, I I @ rel I I I I @ I @ I rca ,I @ I I -@:@:@--@--@*@ :B--@-@--@--@--@--@:@--@- ei -B__@:B all slatutory, /regulato4, / budgetaq, approvals have been ohrainr d llor the Project and the Borrou,er has made available or madr necessarv iurangements for provision ofavailabilitl, ofland, right ofrla).
rlong u,ith b:sic infrastruclure, waler and electricity al lhe Projet I silers) in the Borrolvcr's Country); (c) Exim Bank shall have received from lhe Borrou/er.

confirrnation on lar and dut1, exemptions, financial closure and olher co,1lnlitrr)eltts nrade by the Borrou,er in conneclion rvith the Pr-oject alorrrl s,irh ths copy of the contract.
(d) fee, inleresl and costs, charges and expenses: if ant', pa,viitrle by the Borrorver under tlris Agreemenl slrall have been paid lo I tinr Bank rvhen due; (e) all represenlalions and rvarranties made b)' the Borro\ er r l the General Conditions of this Agreemenl shall hale remainr.,l (ru j and correct on the date of each Adr,ance under the Credit a, if irll ol lhenr as rnav be reler,ant shall have been repeated rvilh re:rrecl ro the fiacts and circumslances e\isting on {he date thereol- no Event ol Default shall have happened and be continuing and 0) (g) Exim Bank shall have received lrom the Seller the do(unrerts in lerms of Clause 4 including Conlracl lnclusion For rrr a per Annexure ll and Pal,ment Aulhorisation as per Annexur,.
: lll dul1, signed b), the persons authoriz-ed by lhe Borro\ver as per Encl :sure II, prior to the relevant Terminal Disbursement Date, 9.B.

The Credil Agreernenl shall be acconrpzmied br :ur Oprnion oi llr!'

-egal Counsel of the Borrorver (at Enclosure I) and a List ol' \utlr,'rised Signatories of lhe Borro\\'er l'ith Specinten Signatures (at Enclosl e ll i 10.
Anti-CorruptionLarv: 10.1 It is striclly forbidden lo the contracting parties, by themselves or b1 a third party involved rvith this Agreemenl, lo offer.

ask or accept for its':lIor for a lhird part1,, financial or non-financial advantage or even direcl 'r inJirect promise, as offsets for the conclusion and/or erecution ollhis Agreenl':nt, if susceplible ofbeing qualified as criminal unlau'ful acls in accor,lanct with nalional laws of anv party involved.
to2 Any contract that is based in the practice or ils aflempt ol slttr lllons stipulated under Clause l0.l shall tanlamou to an Evenl of Delault under lhis Agreement, u,ilhout prejudice lo eventual civil ar,l crrrninal consequences against those involved in these practices.

- lt - .aG 7 ,N -.

.

: ( et I I I I I IB @ I I I I eI IBI IBI EI IBI Gr I I I I trr I I @ I @ I I Iea i I ,r_e I .

: ['t-' g IBI IBI IeI I I I I i ra.


IB @ IBI IBI IBI IBI @ I I I \-ffip;t@y$-e' e B e B @ @' @ @ e e G [= -:>] E € I I I I I l. Integlitl, @:@--@--@:@-@--@-@--@--@--@:@--@--@:@-@-,e B__@-B IBI @ Ia IBI -=J I Ia5l IBI I-B IBI IBI IB -Ie IBI el @lar IBI BI IBI IeiI t.q-l- The Borros,er hereby agrees, covenanls and undertakes to take all nec* sary measures to maintain highest level of ethics and integrity during the currencv ol this Agreenrent and ensure thal Seller, bidders, supphers, contractor.
ag:nts, consultants.

sub-contractors, service providers, and any personnel thereol .hall take all necessar-r, and reasonable steps wilhin their scope of business anrr arcr ol- responsibilitl' to avoid and delend against serious violations of obligatior,., in ,,r in connection rvilh implementation oflhe Projecl including preparation of Dl'll.

ar d in bidding.

procuremenl and cxecution processes in connection rvith the Projt .
t. This Agreemenl shall be read rvith the General Conditions conr:rtner: in SCHITDULE hereto rv}rich shall lorm an inlegral part of this Agreenrerrt an,t be deemed incorporated herein b1' reference and the parties hereto agree lo u. cept and be bound by the provisions thereof.

12.

Cencrnl Condilions to forn Dart of Credit Agrcernent: 7-a- T =a a vc=j -i I I I I I I I I I I I !

I I _ ==I I ::>) I L.-=l I 5,_I e_ ,_ I Y€ I 5a -l@ I I I I = I@ I I EI I I >) I g I I 2 t @i t4"{':':4' r"lii:iii' -', tr f '-!
"-g' .- t.J{, ';'A 0l l-li.t''/ - ' -'--.'-a'-'1-'_.
.-.- I @ I I @ I I @ i I @ I [e_-i , IBIeI I @ I I @ I I I I I @ IBI @ IBI @ IBI IBt IBI I I I 15 \ - t2- /f^i r,'V I -na @ ?a'@ @ Gl B B @ B e E-r d= 6: € I I I I I I I I @ IBI @ el ,l TIIE SCIIEDULE ABOVE REITI'RRED TO @-B--@__@__@__@:B__E--@-@-@--@-@--@:@--B--tB-- e:B--@ IBI IBI @ IBI IBI er IBI IBI IBI el IBI IBI IeI IBI General Conditions B C D E. F, G H, 3 e I6>J I, I I I I I I I I I Defi nitions & Interpretations Bororver's liabil i t-r, lnterest Period Tares Currency ofAccounl and Place of Paymenl Approprialion of Pay'rnents Indemnity Represenlalions A{l'irmalive Covenants lnspection and Moniroring Events of Defaull Evidence ofDebt Waiver Assignment/Transl'er Certification by Exin Bank Partial lnvalidity Language ofdocumenls Lalv Arbitration Notices J. K, L M N. o P. a Ii.. s T. I I IBI @ I I I @ I I tr:] lc.tt I IB IBI I @1 I I I @ !BI @ I I I @ I I @ I I -1 lr-;i I = -a I , @ =l=)-l G] I t \r€I I I >l I I I @ B I @ I I I E I'a I*Lre I I '=l -i @ @ IBI @ IBI ;@5,F;F*WF B s e G B B--E--s-E--E--s--s-B--E-s wI tI'/ MtNlsr 'rS t{*,.
/.a6) nt.r \tr -13- I I I I \ € e @ I I I I Ira =I I-!E I I I @ I I Iet I I I I a @ I I I ai) :) I I l;=i BI I : I au4 I I I t3 @ ta @ rn t4 It-tz ?a I I iz I A. scHIl)tjLtt (; I'N ERA L COn*DITIONS Dcfinitions & Internlclai ions: --@__@-B--@__@_-@--@- -E--@-@-@--e--@__@:@-- B- @__@--B IBI IBI IBI IBI @ IBI IBI IBI IBI IBI IBI IBI El Except:s erpressll,specified herein.
all expressions used in 1he General ( ,rndirrons and defined in the Credit Agreemenl of whjch lhe General Conditions fornt a )art, shall have the same meanings as given to them in the Credit Agreemerr.

Il.

the evenl ofany inconsistenct, betrveen anl,provision oflhe Credit Agreement an( the General Conditions, lhe relltive provision of the Credit Agreement shall prvail The liability oflhe Borros,er lo make any payment hereunder being prinlrrl,.
.hall in no rvay be conditional u1lon due perlonrrance b), the Seller in lernrs of ar Elig ible Contract and shall no( be allected b1, reason ol any dispute betrveen a Brr.

er a:rd a Seller or an1' right rvhich a Buver nrav har,e or claim to have against a \cller nor shall lhe Bororver be entitled to raise any defence or objection enranatinr lrorrr its business or contractual relrtions u,ith a Bu1,er, for making any paynrenr to I rim Bank under the Credit Agrecment.
Bollo*'er''s liabiliE: B. I I C. Intcrcs( Peliod: (l) (2) The perrod for lfiich an Advance or the Credit, as the case nr;r1 br, is oulslanding shall be drvided into successive periods (each an 'lntrresl Period")- having duration of six nonths each or as otherwise nrenli.ned The first lnteresl l)criod in respect ol eaclt Advuxlce shall commen.

e orr the date on u,hich an Atir alce is nrade, and in the case offirsl Advanc'' r'ela ing to the firsl Eligible Contract.

lhe first lnteresl Period shall end on th.


Int( rest Paymenl Dale follor|ing the commencemenl of such Interest Period (3) The first lnleresl Pcriod in respecl of each subsequent Advanct' relaring either to lhe same or anolher Eligible Contract shall end on the last da' of the lhen currenl Interesl Perrod relating lo the first Advance pertainrrlg to the fi rst Eligible Contract.
(4) Each lnlerest Period (other than tlre first Interest Period in relatior to t rch Advance) shall comnrence on the da), immediatell, following the precet ing Interest Period- and shall end on the Inlerest Pa)rynent Date nearest 1,, il \ , l.l - e, I I @ I i elI I I Iel .

(-::' i I el IB @ I I I I @ IeI @ I I I I I @ I @ IBI @ I I I @ I I @ I I €iEF-:'F"'= Gira6 tiz, tg=r lj=r rr-,a1 v=1 o--.
: E\ G"gigGi!5i5gr tE4 F - Er--N= € € -@-@__@__B--@*@--@--E--@-@-@--@--B-@:@-- i€- e--B: (5) (6) An1, ln,a,'"t, Period that rvould otherwise end during the nronlh prer edin i or extend beyond the final Repaymen( Dale shall be of such durati,,n thr,t i1 shall end on that date subject to ad.iustmenl in accordance rvith Sectr,,rr E ,1.

Where two or more Interest Periods begin and also end on the san)( da),.
the Adyances lo $,hich lhese Interesl Periods relale- shall constilut,' and be referred to as one Adrance.

D. Taxes: D,I All sums payable bl the Borroter under the Credit Agreenlent shall be I aid in full u,ithout set-o[F or counler-clainr or ar;,restriclion or cond'ron nd free and clear of arv deduction for or on account of any present 'r lir ure ta\es or other deductions or rvithholdings ofany nature rvhatsoever nor, or herealter imposai h1, lhe govemnlent of lhe Borrorver's Counlr\ ( (he Tares").
If (i) the Borrorver shall be required b1, law to make any (,('(hrcron or withholding lront an1, sum payable by it hereunder.
or (ii) Errnr B rnk shall be required b1, lat,to make any pa),nenl on account of ta\ (olircr I r€ur tax on its overall nel incorne) on or in relation lo any amount re(,'rve( or receivable b1, it hereunder, or othenr.ise pal'able b1, Erim Bar" to its Iender(s) fronr rvhonr Esim Bank may have sourced lunds to make .rr ail: ble the Credit, lhen the surl payable by lhe Borro\\,er in respect of s'hrch s rch deduction.

rvithholding or paymenl ma)/ be requ red lo be nrade.
ihall be increased 10 the e\tcnl necessary lo ensure that alter the nraking ol's rch deduction, s,ithhoidi'rg or payrncnt, Exim Bank shall receive and relrin ( I ree from an1, liability in respecl ol an1' such deduction.

rvithholding or I,r)'rnt n1) a net sum equal to the sum rvhich it rvould have received and so relarncd 'rad no such deduclion, rr ithholding or payment bcen made.
D2 D3 D..1 The Borronsr shall deliver to Exinr Bank rvilhin thirtr, days alte, rt si,all have rrade any pavr'nent fi'om rr4rich it shall have been required l.\ Ial to make anl,deduction or rvithholding.

a receipl issued by lhe relevarl lll) ng or olher authorilies evidencing the deduction or rvithholding ol' rr)to!

nts required to be deducted or s,ithheld lrom such payment.
The Borrorver shall hold Exim Bank harmless from and against anr lrabr ity rvith respect to al), tax on or in relalion to any amount pal,ab),' bl the Borrorver under lhe Credil Agreement (rvhether or nol properl-y or legr,llv asserled).

If at any time the Borro\\,er shall becorne aware that ary such derluclron, Mthholding or paynrcnt contemplated by sub-Section (l) above ma\ nee(r to be made, it shall irnrnedialell, notify Esim Bank and provide all available details lhereof- I iBtl @,t i_Ll-BI .
@r --i- tltGl Ir@I --i- @ ;@ @ I I I ilL@ IItrLI I I @l r,-1- I l(-eg U--t fal l:- I l!

LLg.jI i vd, IY' \_r IA Li @ t -,.

II\51 I I I ti GIt5 rl @ ll l3I I@lrlEt I I IP 5r,T" - - li ) :5 .. i: .. = == €.
;'.$ffi'-;PlF E a r-5 E i.>, L= sz (A t=, ,:> -/-r ,- 'A r:= c= t=l L= ,-z= L\=, i =- .=i : 1-' I> =::.-', !\= @--@ -@--@:@--@--B-B--B-@-- B:@-B--@-@--@- E- @--B--B @ I I E. Crrrlcnct of Account and Place of Paynrcnt: E,I Dollar is the currency of account and pa)'ment for each and g1,s,r , su n al an), lime due b), tlre Borrorver under the Credil Agreement.

E.2 (D (ii) ll any sum due from lhe Borrorver under this Agreement !
)r u rder any arbilral award or judgement on an a\l,ard given or ntad ) in relation herelo, mav need 1o be converted from the currt,r rr:r' ( 'the First Currency") in rvhich the same shall be payable her,.urrdrr or under such arvard or judgement into anolher currency ("th., Ser ond Currency") lor the purpose of (i) making or filing a clain or p oof againsl the llorrower; (ii) obtaining an arbitral au,ard or.lrrl-gsr renl on an arvard in anv court or tribunal.
or (iii) enlbrcing,rn) .uch alvard or judgement given or made in relation herelo.

trren ,uch conversion shall be made al the rate of exchange quoted lo L{im Bank b1, a commercial bank for freely transferable Dollar '.

al lhe close olbusiness on the da),belore the day on s,hrch lhc clairrr or proof is filed or arvard or judgenrenl is rendered.
and lhe llorr',ver shall inderln:ly Exim Bank and hold it sat'e and harnrless ' rom rnd against an) loss sulfered b), it as a result ol an1' lllctua ion betrveen (a) the rate of erchange used for such purpose l,' con.ert lhe sum in queslion lrom the Firsl Currencl, into th, Set rnd Curency and (b) the rale of erchange at which Erim Ban[ nrar in (he the ordinary course of business purchase the First Currencr 'r'ilh Second Cun'cncy upon receipt ofa sunl paid to it in satisl;rciio'r in rrtole or in pxrt, of any such claim or proof or arvard or judi'.
'nrer t. For lhe purpose of sub-Section E.2(i) ald rvithoul pre;rrdice to the indemnitt thelein contained.

tlre Borro\\,er lirrther ar ,ccs to the lull extent perrnilted b1'la\- that anr arvard orjudgent.,tt or an au,ard nrade in (lre Second Currency shall be lor such sum rr \\o rld, at the rate or rates of erchange a1 \vhich Exinr Bank nrirr in the ordinarl, course of business purchase the First Currencr.
'r'ith (he Second Currencl, as at the date ol paynrent, enable Exim llanl 1o receive the sum due to it in the First Currencl,.

E,3 All paymenls 10 be made hereunder b1'the Borros,er lo E\inl Banl shal be made in Dollars bv nreans of transfer/credil to the account(s) of Elrn B rnk s,ith designated bank's in lndia or abroad.

The payments shall be st, nad, as to enable Exim BaIl to receiYe or realise at par the amounl of par:ttenl on or before the relatile due date thercof.
Unless othenvise advised i,v E im Bank, the Borrower shall make paymenl to the credit of Exim Bank Vc.

.lo.

36046887 with Cilibank N.A., Nerv York.

U.S.A.. CHIPS UID l73s7l 'he payment obligations of the Borrower shall be deemed fulfilled onlv rvlren I IB IBI @ I I I I IBI @ I I I I I trr tr [B I I I I @ I I E-l I I Fnj I I Fe'!

I trl IB @ I I Fsj [a-i': !BI @ I I I @ I I @ I I I @ IBI IBI IBI @ I I I I I I I I va) N>l -@ @ @ I I I I I i @ IelI -EJI Iei -Lr€l I I rei [.e=_] I I 1 I -El +l I t:e -.
-: €, I 'r5, I I_L v@' I I IBI I I .Ei Ia>t I I I I >l I t: \ --n =t--'=' @ ---=-:::- --- g-- taJj'r- l U *' 5 I,:; -\ , 'lA,'.oL::l;;;*- €*l$trt,,P' -16- a: :.1, \.\}l/ @ I I I @ IBI I '/a 7a @ Gr ?a @ -E: t> A> lg> E- t!

:- rs=r N5 \ 2 5 /s R L=l != .\i /@ @ ra € --B--@:@--@--@--@:@-@__@:@_.B--@-B-@--B- e, -E-- @ and lo the extent paymenls haYe been transferred $,ilhout any drducl on 10 the designated account of Exim Bank and are at ils free disposal.
E.4 If lhe date on r.l,hich anl,sum under the Credit Agreemenl is due arrd p:rvable shall no1 be a Business Da1, 11 15" place of paymenl or lor Esirl Bar,k, as appljcable, lhen the due date for paymenl of any such sunr slrall lre.lh( next succeeding Business Day, unless srrch srrcneeding Rusiness Drrr latls in anolher calendar monlh, in which evenl, the due date shrrll b, the immaliatell, preceding Business Da1,, and if necessarr,, interest rnd lie.

il an1,, shall be calculated accordingly.


F. ADDroDl'iation of Paynrcnts: l:.
l Unless olherrvise required by Exinr Bank, any paymenl under ;his ( redil Agreement rvhen made to or received/recovered by Erinr Banl shl ll be appropriated in the follorving order and lhe Borrorver s'aives anr ri.lht il may have lo direcl approprialion in any other order: fee; (a) cosls and e\penses; (b) (c) additronal interest on the defaulted amounts; (d) compound interest; (e) interest; and (0 instalmenl(s) ofprincipal due under lhe Credit Agreement F.2 Notrvithstanding anylhing conlained in sub-Section (l) hereinab,'re.
l:rim Bank may at its discrelion, appropriate such paymenl lowards satr..thclr,,n of dues- if anr,, payable by the Borror.ver in respecl of an!'

other lorrn/ la :ilit), avarled of from Erinr Bank.
G. I ndcrrrrritr : Tlrc Borrou,er shall indemnify and keep Exim Bank indemnified from ar,tl a-r.'rinst all losses- liabilities, danrages, cosls, charges and expenses s,hich il mar cerlriy 10 have been incurred as a consequence oloccurrence ofany Event of Delrrtrlt o, an1, other breach by the Borroler of any of its obligations under the Credit ,.\ gree nent or by reason of an1,pa),msn1 or repa)rnent tO or receipt or recovery by t'rim llank ofanf installment oflhe Credit or any overdue sum otherwise lhan on a I{,?a\,rlent Date or an Interesl Payment Dale relating thereto (including an1' loss ir, LrrrcJ by Erinr Bank in liquidating or redeploying funds acquired 1o maintain the ('re(,rt or arranged for the purpose of a proposed Advance and any interesl or cost I rcurr rd in funding an1, unpatd sunt).
--| -- ,.

i:: BI @ I I I I @ Iel @ I I I I I I I I I I I I @ @ @ @ @ @ I I I I I I I I @ @ I @ IBI IBI [-r , I I @ I I l.:>' I I EI @ I I @ I I I I @ IB fe ffit\:.

?l IelI @ I I @ I I I I I @ IBI @ I I I @ -@ I I I :J I ,=#.Fna- 1P# n rld?r' ' -'B:€' + I ti:.

[5 '}\ -^# :a:'t ( -11 - @ I I @ I I @ I I @ I I @ I I @ II E\ l- tS L5 i5 L> N= [>r r= E* lA l-) B t- r€ 6 E [="[=--t>- G-- E_E @ @ I I I I I @ -@ IBI @ _t I I I I @ @ \,!
I I 'e, I .t :@ I I I @ I I Ira €1 I i I I =iI r|cr I [5t .t I I I I €[=r t I I @ ,n I @ ln I I __B--@--@__@-@--@-@--@__@-B-B--e--@-@--B__!e--@--@: @ I Il.

Renr esenlations: Ii.

I The Borrorver represents thal:- (i) the official(s) signing this Agreement has/have full pou,er.
eapa, rty and authoritl'lo e\ecute and deliver the Credit Agreement Orr belralf of the Borrorler and that necessary aclion (statutory and anr otht rs) has been taken to aulhorise its lronowings lrereunder .md the ereculion, deliverl,and perlormance ofthe Credil Agreemeu iind all documenls in pursuance lhereof; (ii) all acts, conditions and things required to be done, fulfrlled rrnd perlornred in order (a) 1o enable the Borrower lawfulh to erler in1o, e\crcise its rights under and perform the obligations e\pres.,ed to be assunred by it under the Credit Agreement and (b) r,' ens rre that the obligations expressed to be assumed b1, it in th,, Crcdit Agreement arc legal, valid and enlorceable, have been done.
lLrlfilted and perfornred in strict compliance u,ith the larvs ol lhe Bor rorvt r's CountD'tuid there has been no defauh in lulfilhnent oflhe clrrdilir,ns of an1, of thenr- (iii) the obfigations expressed to be assurned by the Borrorve; rn ,he Credit Agreement constitule legal and valid obligations enl,)rcear)le in accordance wilh their lerms and are direct uncondilional and general obligations of lhe Borrou'er, ranking at least pari pairu rr rlh all its other unsecured obligalions; (iv) il is not necessary in order lo ensure the legality, 'alidr,1,, enforceabilitv or admissibilitl in evidence of lhe Credil Arr eqnrlnt and Pat,nrent Authorisalion in lhe Borrower's Country that i or air\ other docunrenl bc filed, notarised, regislered, recordcd or -,nrolled wilh an), courl o[ authorit), there or thal any stanlp, registr,:rrorr or similar lax be paid on or in relalion to lhis Agreement; (r ) lhe Borro\\'er is subject to civil and commercial lau' and , lei al proceedings \\ith respecl to its obligations under the Cre,lit Agreement and all documents executed pursuanl lhereto ,rnd lhe boros,ing of the Credit execution and delivery of the Cre,lit Agreenrenl and the performance by the Bonorver lhcreunoer conslitute/\vill constitute privale and commercial acts irnd rol governmenlal or public actsThe Borrower is not entitled lo arrr right of immuni6, from any legal process in the Borrou,er's Countn Lrn lhe grounds of sovereignly or olheruise, and lhe rvaiver conlirn;d tn this Agreemenl of any right of immunity by the
 Borr,,rver is irrevocably binding on the Borrower, s. -tlt/ -t8, I @ IBI IEI IBI IBI IBt EI I I I I I I fsl IBI @ IBI IBI EI i i F, _!
91 I I I Br IB Iel I I K;, .

:=.

N--l I I @ IeI I te)t I I @ I I @ I I I @ IBI IBI IBI IBI IBI l2J E | --:- | $-r ''i Yt-- '" ."

{" : i j. .

\rr -J : .'

.'

.

::-:- laA - i r-.-.-.-_ : !

e t--@ffi\.

- t@1.- Ity'.. l+:+=J\/.. rlrr i\-_ .

;- ; ,.

.- -.

t- r .r-.

6\66@?.-.66-'rjtAFl- i:> \= i\= i!= ls r- a=J 6>, t= [= L= [= !=l-- N-- -L'=--fsr--L=.

I I I !
I @--@-@--e:@--B--@-@-@--@__B-B--@--@--@__@- @ -@-- @--@ BI IBI IBI @ @ IBI @ IBI IBI @ (vi) in any proceedings taken in the Borrower's Countrr for the enforceme'rl of the Credit Agreement, the choice of the Indran lirw as lhe governing larv of the Credit Agreement is a valid chorce of law and any d:cree or judgment or an arbitral award in respcct of lhe Qredit Agrcement will be recognised and enforced by the courls in lhe Borro\\ er's Countrl,; (vii) Exim Bank shall nol be deemed to be domrciled or carryirrg on - business in the.Borrorver's Country by reason only oflhe cxecution of the Credit Agreement.
@ -@I @ IB @ i @ I I I I I I I I I I I I @.

I I I I IBI -@ .t @ BI IB @ I-BI @ I I I I -I I I I @ --e-t @ .1@ I I 5l I I I I I @ E Irg IrgI I.E =I g I I I €ii.- H2 The Borrorver further represenb that:- (i) neither the execution or performance oflhe Credil Agreen]eut or the Payment A'rlhorisalions nor the exercise by the Bonower of ary of ils righls hc"eunder u,ill: (a) conflicl rvith or resull in any breach ofor default rrnder any larv.
authorisation, judgment, order, agreement, inslruDrerlt or obli3alion applicable to, or which is binding upon \,r al'l'ects the Borrorver or any of ils present or fulure issel: or revenues, or (b) result in the creation ofor oblige the Borrower to creale- any encu rrbrance on lhe whole or any part of ils present or fu ture assels or revenues; (ii) the Borrouer is not in breach of or in default under rurl, iarv, authorisatior- agreement- inslrumenl or obligation applicahle tr.. or rvhich is bil,linglrpon or affetts, the Borrolver or any of rls assets or revenues.
being a breach or default rvhich might havc nratt.rial adverse effecl on the abilily of the Borrorver to duly obscrve and perforrn its obligalions under the Credit Agreenrenl; (iii) there is no restriclion imposed in the Borrower's Counln which Iimits or prevents lhe transfer of foreign excharge by the llolreivgy for the purpose ol performing any of its payment obligations ur,der the Credit Agreemenl; (iv) no event has occurred rvhich is or may become specified ru,ith the giving of notice and./or the passing of time and/or any firrding of materiality) as one of those events mentioned in Section K. I and no other evenl hrs occurred u,hich entitles, or s,hich, rvith the grt,ing of notice and/or the passing oftime, rvould entille any creditor of the ..\r t I\IINIS It-- ?
rj*)i Ts I I I @ IBI IBI IB ei BI @ I i I I @ IBI @ I i€J 1lg @ I i I I @ I I @ I I @ I I @ I I I @ IBI IBI @ IeI @ I I I 6d@E 5 tg [5 E r-slErr=.t-r- rS iiS iS--iiS g'-g--g--t=r-- S--NB--E I I I Borrorver lo declare its indebtedness due and pal'able prtor l(, jts specified maturit), or lo cancel or lernrinale anl credit facrlity or to decline to m:rke advances lhereunder.
and @-- @-- @--E-e-€=e-E_@-'e-- @-- @_- @--@--@__e--''e- B*B__B IBI IBI t.@ IBI IeI @ IEI -@I IBI IEI -t BI @ IBi @ IB ei -@I @ IEI the information provided b1'the Borrorver to Exim Bank b.rfore the date hereof in connection herewith is true and is not inc(,rrecr or misleading in an)' respect.

(D utilise the Credi?

facilirv for linancing purchase from India of Eligible Goods and Scrvices b),Bq'ers in the Borrower's Country', The Borrower agrees- covenanls and unde(akes lo:- A{firnrativcCoverrants: I.
@ (u) rel s31 -l I I I I I I I I I I I I I I (ii) obtain, comply $ilh lhe terms of and do all lhat is necessan, to rnrrnlair in full force and effect all authorisatio'ns, approvals, licences and (onsct)ts required bv lhe lal's and regulations ollhe Borroler's Counln/ to enable the BorroNer larvfulll' lo e,ller into the Credit Agreemenl and perttrrnl its obligations hereunder and (hereunder iurd lo ensure the legalit).

ralidrt),.
ralidrt),.

enforceability or adnrissibrlitl in evidence of the Credit Agreemer.r in rhe Borrou,er's Countrv.

(iii) promplly inlorm Exirr Bank of the occurrence ofan1,erient rvhich is or nral become (l ith the grlrng of notice and / or the passing of tirr.re and or lrrrl' finding of materialitl') one ofthose evenls mentioned in Section K. I rrereoI (iv) promptly infornr Exim Bank of an1' litigation, arbitralion.
adminrslratrve proceeding or conlrlct clainr br-ought or made against lhe Borrr.rver or againsl anv of tlre assets of the Borroter- re consequences of shicir nrillrt malerialll, or adverselr affect lhe llnancial condition of the Borro\\r'' or the ability ol the Boro\\cr to dul)' obserte and perform anv of its oblrgalx,ns under the Credit A€reenrenl; (0 ensure that its obligations hereunder will at all times bc'direct, unconditional and general obligalions ranking at least pari passu wirh.all rts other ursecured obligations, (vi) meel anv shortlall in resources or costs overrun for completion of the Project.
(vii) pay or cause to be paid all larvful claims of shatever nature, utuch, if unpaid, might beconrc an encumbrance upon the assets, revenues.

inome or profits of the Borrorver, unless the validity thereof is being contested rrr good faith and such reserves or provisions as may be required by gt'nerally r fF" 20 v I I rd.. .E:: II€' I I e' IBI @ I I I @" !
I I -' -_lBI @ IBI Ig IBI IBI @ IBI IBI @ I I I I I I @ IBI I I'e] -: l-:€ i l =l ': a= l5 E= I I I I .1 @ ri L>l I I I @ g It, B AI v\ i#4@::@:zffi @ 6 G=a S| o-Gr 6 @- L: r: [> a=a [>, i\5 [=--[5]--N -t=--L5--L5: I I I I I accepted accounting principles and practices in the Borrorvet s Counlry shall have been mrde therefor; @--@__@--@__@_- @_@__@-B--B-@-B--B--@:B-B- B--B__@-B IB @ I-BI I@ IBI IBI BI IBI Ie @ IEI e BI ItrI IBI @ IBI Iel (viii) appoint a process agent in Mumbai rvhenever called upon by and (.nsure lhat until payn.rent is made by the Borrorver of all moneys 10 E.\im llank under the Credit Agreen.enl, such agency relalionship shall not be termrrrated after its appointment u:rless anolher process agent acceplable to Exinr Banli has been substituted, and to notify to Exim Bank about an1, charrge irr lhe appointment of process agent(s) or in their addresses, anrr pending appoinlment of a 1'rocess agent, seryice ofprocess by matling copres thereof to the Borrou,er by registered airmail, postage prepaid, at tlrt' address specified hereln, shall be deenred personal service acceptcLi br the Borrorver, ard sharl be valid and binding on it lor the purposes ol refeience to arbrlralion.
Insncction and Monitorirrg: - I nspectiorr J.l J I I I I I I i I The Borrorver co\enanls and agrees that until all amounts due Lrnder tlre Credit Agreemenl have been paid in lull.
the Borrorver wil lirciiilate inspeclion being taken b)' the representalives of Exim Bank of tlrc Buver's lacilities, activities, books and records and cause their ofircers and emplolees to give lull co-operation and assistance in connection rherel,ilh, il being underslood thal Exinr Bank vvill exercise the right of inspectron in limited circumslances and the inspection rvill be confined lo thal i)orti()n of the Buyer's project which may have utrlised Exim Bank's funds.
Such inspection may be subject to prior \wil1en approval of the concernod Btryer.

The Bonorver furtlrer covenanls and agrees thal il shall also pr,rcurt' the consenl of its Seller- bidders, suppliers, conlraclors- agents, consullilnts- sub- conlractors, service providers, and an), personnel thereol, to .rllo$ the Govemment of India/Exim Bank 1o inspect all accounls.
records and olher documents relating to submission of bids and contracl performant e- and to have them audited by lhe audilors appointed by the Governmenr Dl ltdia/ Exim Bank during the currency of this Agreement.

On the occurrence ofanEvent of Default and i1s continuation, lhe llorft)wer will facilitate inspection ofthe Buyer's Project by the Government oflndia/ Esim Bank.
onr (a) f l'o ect IE ible Contract s The Borrou'er shall submit a slatus report on eseculior of cach Eligible Contract at an interval of 3 months from th(' dalr: of tt-c-:l 1 I IBI e Ie IB l_e .

!

r-e] I tel I I @ I '@ I ; I I @ IBI @ IBI @ I I I !

@ I I _- l-- \'" -.

:--.- - --r-i i\lriii iil?

"', -.

.^i::' -a.Yel ^r' ]-'.,,ir.

'\ .

4.!

Fi4 '} \' .ttr .

- ", IeI!

()r "t\ii :€r.tEli-g'?e B g E -G -B -B--E--E--B--E--E--'3- e__B-B / ji -21- ,i @ I @ I-@ IEI @.I IE @ I I IeI @ I !

-d:i @ : -c=.
-d:i @ : -c=.

", i !BI IEI > I I @ I I I V(e\ E I I I I I =: _l L-) I I € @-@-@_@-@-B--@-B--@--@-@--@- @--@--@- @ -@:E-B* @ I I I I I I @ I I I @ BI @ IBI @ IBI @ I I I I I @ I I I @ IBI aB @ I I I I I I @ @ I @ IB rcj i @ I I I I @ IBI @ I I I I I @ I I @ @I @ I I approval ofeach conlract lill conrpletion olthe Eligrl,le (.)ntract.
(b) The Borrower, shall at i1s cosl ard expenses, orr conrpletion of Projcct / each Eligible Contract, submil a comprchensrve Projecl cgmpletion reporl covering benefits derived/to be tlerived from the Project and its socio-economic impact in the Bon,rlver 's Country along rvith visual documenlation.

(c) Exim Bank may appoinl a Lender's Engineer ror independent monitoring of the Project.
The responsibility (,' thl Lender's Engineer, is to ensure adherence 10 time and qualit, specifications, and n,here necessary, initiale corrective action for th.

successful and limelv implen.rentation of projects.

The Bororver shall :nsure that lhe Seller, contractors and consuhanls engaged r,rth rhe Project provide necessarl,supporl and assislarce to such Lendcr's Engineer.

(d) The Borrower shall at all limes during the currenc.
ol the Credit, pernrit access to offrcials and represenlalives ofGor, mrni'nt oflndia / Exinr Bank to the Project sile(s) in the Borrower's ( ounrD,.
K. Lveflls of Dcfault K.I For the purpose of this clause, there shall be an event ofdefault il - (a) any arnounl payable by the Borrower to Exim Bank rrnder the Credit Agrecment is not paid when due; (b) the Borrorver fails to perform or observe any of its tither ,rbligations under Ihe Credit Agreemenli (c) (d) an),inlormation funrished or representalion made by the Borrower 10 Exim Bank is found to be incorrect or incomplele rrt any malerial respect; (he Bcrrrou,er defaults in payment of an), otlrer exterrral intlebtedness on its due date or an1, external debt of lhe Borrotti'r becomes due and payable prior to its stated maturity or a morator rum r r embargo is declared on the payment of any exlemal debt oi rne B,trrorver or any of its agencies, or any political evenl occurs by r easotr of rvhich the Borro$,er's Country is declared to be on ininrical terms rvith India; (e) any restriclion shall have been imposed in the Borr,,s'er s Counlry rvhich limits or prevents lhe transfer of foreign erchange by lhe Borro\ver for the purpose ol performing anv i,f ils paymenl @ I I @ I I n.. 5Ir:{ \B 21 E, E B @--B--G--@__E- B--E--E-_B-I I I I I t t t t t i r t t t I t ( !
I t ( t ( t I I I I I I I I I @ @ @ @--@:@--B--@__@--@--@--@--@:@--@--@--e--@-e -Gi--@-B:B IBI @ IBI @ IB @ obligatrons under the Credit Agreement lf an Evenl of Delault occurs and remains unremedied withirr rhiry (3O) days alier Exim Bank has notified the Borower of such defaulr therr Exim Bank may, by a notice in rvriling to the Borrower declare lhat: .

(a) access b), lhe Borrol\,er to ayailment ofthe Credil facilit'.
her aunder shall stand suspended in rvhich event the Credit facility 1 ) thc extenl not availed of b1, the Borrou,er shall remain suspendcd urrtil tl're event rr4rich gave rise to such suspension shall have cea;ed I I exist to the satislaction of Exinr Bank and Exim Bank shall hrrle nctified the Borrower that &ccess to the Credit facilitv has been re.,1ore,i: or K2 @ @ I I I I I I I I I I I I I (b) any undrawn portion oflhe Credit shall stand cancelletj s'lrereupon the sarne shall sland cancelled; and (c) (d) no new or additional credit facility will be granted to thr' Borrorver by Exim Bank; the unpaid principal anrount olall Advance(s) or lhe Cr.rtlit.
as the case ma\ be.

shall become immediately due and payable.

,rhereupon the same shall beconre so payable by the Borrorver 1o i'-xinr Bank (anything to the contrary in the Credit Agreement nols rrhstarrding) logether uilh all interest accrued thereon and all other nronie; then orved by the Borrowe, to Exim Bank hereunder, rvithout ,rn) iurther nolice or demand of any kind rvhalsoever, all of which tlrl Borros,er herebl, expressly rvaives in favour of Exinr Bank.
All expenses incurred'bv Erim Bank after an Event of Default shal lmve occurred in conrection rvilh prcservation of the Borrorver's .rsset; and collection of anrounls due under the Credit Agreenrent shall b- for:hrlith payable b1, lhe Rorro\\,er, and until payment, shall carry inlerest .

[ lhe Interesl Rate, besides additional inlerest by rvay of liquidated danrages at the rale provided in the Credit Agreement.
Notwithstanding any suspension, cancellalion or acceleration Irulsu.mt 10 any oflhe events oldefault referred to above, all the provisions ol the (lredit Agreement shall continue in full force and effect during the 1)erioll an)' amount payable by the Borrower lo Exim Bank remains ouls{r,rdinrr,, and independent of the Borrorver's obligations under the Credil Agreenlerrt, the Borrorver also agrees to Indemnify Exim Bank against the cotrseqrlences (direct or indirect) o[ any action thal may be taken by a Seller or l]uyer against Exim Bank by reason of suspension of the Credit l-acihty or cancellation ofthe undrautn portion oflhe Credit as aforesaid.
K3 K.4 @ ielI IBI IBI @ I I I I @ Ie e] @ I I I I I I @ IBI Ie I r-=' I I Fgr I !g I I @t @ I I I I @ I I @ I , @ I I I I I I @ @ I @ IEI @ I I I -BIB Ie Ig I I I @ IBI I Ia-j I B @ I I I I @ @ trs3 i r*: I I @ Ig IB I I @.

I I @ I I I I @ IBI @ IBI @ I I I I @ t I I nt _ - ...) :+ 2: -,F,,::ffPo;iW:F Gr@@ B0-G1 !

: ':=r DA @ l\=, t;V [: != 6 [5 15 '- O=1 [=J \= h> I I @--@-@--@-- B:@--B*B--@--@:@--B -@--B--B-B B-B-@:@ @ IBI @ Evidencc of Dcbt: L. I I I I I I (a) Exim Bank rvill maintain.
in accordance with its usual practr\re, r: loan accounl in the name oflhe Borros,er evidencing the amount(s) fI(,m lllne to lime lent by and orving to Exim Bank as also amounl(s) r, ceir ':d or recovered b-y il.

and an interest receiYable account showing 'llereln lhe amounl of iDleresl and olher moneys payable under lhe Credit Agicent :nl as also amounl(s) receiYed or recovered by Exim Bank in respecl the,eof.
(b) In anl proceedings arising out of or in connection u'ilh lr)e ('redil Agreement, enlries made in lhe accounls mainlained as aforesarJ sh,rll be prima facie er,idence ol lhe e\istence of the liability of the B, rro\\ er as lherein recorded.
M. Waiver: No delay in exercising or omission lo exercise any right, power or reme{l\ accruing to E\im Bank upon ant,delault under lhe Credit Agreenrenl or any olher .rgre( ment or document execuled pursuant lherelo, shall impair any such right- pos;r or remed-r, or shall constitute a s,aiver {hereof or of any obligation of thc lJorrorver hereunder or thereunder or be conslrued as an acquiescence in such d.'lault.
nor shall the action or inaction of Erim Bank in respect ol any defarrlt or any acquiescence b1, it rn anl delault.

affect or impair any righl, power or renre,l)f of Exim Bank in respect of any olher default.

The nghts and remedies pror rded rn the Credit Agreenrent are cumulative and not exclusive of any righls and r.medres to rdich Exim Bank shall othenvise be entitled.

N. Assigrrnrent/Tlansfer: Erinr Bank shall be entitled at an\,tirne to transfer.
assign, grant particip.rtlor) rn or othenvise dispose of q), of its rights and benefits under the Credit Agrccrn( rll 10 any person s,ithin or outside ludia.

The Borrorver horvever, shall no1 assi:ln or lransfer any of ils rights or obligations arising under lhe Credit Agreemenr O.
Certification trv Erim B :t n l<: Where pursuanl lo any provision of the Credit Agreement, Exim Bank r)]ay c(rrtily or delermine a rate of inleresl or an amount lo be payable by the Bt,rrouer or express an opinion on anv nnlter, such certificalion, determination or oprrrion shall be conclusive and binding on the Borros,er in the absence of manifest errr,,.
P. Paltial Invalidi fv llat any time an,v provision of the Credit Agreement shall become illegal- rnvatid or unenforceable in any respecl under lhe larv of any jurisdictior; neither thc leg.rlity, validity.
enforceabilit.v of the remaining provisions hereof nor legality, ralidrry or I I I @ IBI IBI @ I I @ I I @ I I @ I I I @ IBi 't trl @ I I I I I @ IBI t\>i I i'grr @ I I @ I I @ I I I @ -l @ I @ IBI @ I @ I I I I I I I @ IB ffis*;''\ * @""BrylF,ijF B E E--g--'E--B--€-B--@--@--B--6 2l -e--B-@ *'\1) I @ IB IBI trl IBI trl el I I I I I I I I I @ tBI @ ei IB Itr IeI @ IBi @ I I I I I I @, ,l-.

L€J!
L€J!

I I I @ IBI IBI IEI IEI IBI @ I I I I I @ IBI @ IBI @ II- I I I I I I I I I I I I a Language of documenls: enforceability ofsuch provision under the larv ofary other jurisdiction shall in any $,ay be affected or impaired thereby.

'@--@-_ B-- @__@__@--@- @:@--@-@-@-- B-@*@:C Gr--e--@:B @ @ IBI IeI IBI @ IEI IBI IBI @ IBI IBI @ The Credit Agreement shall be govemed by and comtrued in accordarce rr rth the laws of India, AII documents required under lhe Credil Agreemenr shall be in English language.
S, Arbitr?tion: Law: R. I I I I I I s.r Any dispute or dillerence betrveen the parties herelo arising cut rf this Agreemenl shall be setlled b_v arbitration in accordance rvith the [ndian Arbitration and Conciliation Act, 1996, by one or more arbitralori apl,ointed in conformity rvith the said Act and an arvard in pursuance lher,.olslrall be binding on lhe Parties.
The parll, u,hich seeks lo submit thc disfglg 16 arbitration shall notill, the other party in \\,riting not less tlran [r, rr rrt eks in adYance of lhe proposed dale ol'subnrission of the dispute to rrbilfation The place of arbltration shall be Mumbai, India and the l:rngurrge in arbitration proceedings shall be English.

The Bororver' irrevocably and unconditionall), rvaives any obje.,tion which it may norv or hereafter have to the clroice of Mumbai as 1h.
: r,errue of arbilralion arising out ofor relaling to the Credit Agreemenl and docrrments executed pursualt therelo.

The Bonou,er also agrees thal an arl',iral lvard against it in an1, such arbitration proceedings shall be conclusive , vidence of the facl and anlounl of ils indebtedness and mal be enforced and ,'\ecl,ted in the Borrower's CountN on 1he slrengtl) of a dulY certified lrue c, lpY tllereol under ils applicable larrs lor enforcement ola foreign arbitral as,'rd.
The Borrorver herebl' consents generally in respect of an1 arbitration proceedings arising out of or in connection rvith the Credil Agr,'emerrl and all documents executed in pursuance thereoi to the giving of arv reiief or the issue of any process in conneclion rvith such proceeding: including without limitation, the making- enforcemenl or execution l"ains an)' propert-y rvhatsoer,er (irrespective of its use or intended use) ofar' .
au rrd or iudgement on such a\\'ard rlhich may be made or gilen in such pr 'ceer tngs 'I'o the extenl thal the Borro\\,er may hereafter be entitled in any t,rrisdrction to claim for itself or its property.

assets or revenues, immuruty fi.m s,lrvice of process, attachment (rr,,hether prior to the e ry of or in aid ot erer ution of an a\vard olupon judgement or olhenvise), sel-off, judgeme'rt or from ffir\il N,V -25- S,2 s.3 S,4 + I I I @ Iel Igl I Gr!
I IBI Iaa=t> IB I I ILqr tr-e: 'i -:,r@l BI @ I I I I I I IBI IBI @ IBI IBI IBI IBI I @, I -!_ -B_B--@=G_B-@ {S2l --; B- @--@ B -B--B--B @ @ IBI IB @ IBI IBI @ I I I @1 I I {F.J -t @ I I I @ IEI ret Ie, I I l I I I I I I I I I I @ @ @ @ e_l @ @ @ @ @ @ I I I I I I I I I I I I I I .t \11 Y MINIgTER !r| 4*r != *ffiff I I I I @__B--@--@:@:@=B-@-@--@--@--B-@--@: @--@- @--@--B--E @ @'l @ I-@ IBI any olher legal process on the grounds of sovereignty or olhenvise.
and lo the extent that in any such jurisdiclion lhere mal be atlribuled such immunily to ilse.lf or ils propertl,, assets or rer/enues.

the Borrorver herebv irrevocably agrees not to clarm and waives such right to immunity u,ilh respect to its obligarions under the Credit Agreemenl to the lullest extent permitted by the larvs of such furisdiction.
I I I _t -l (@t I I @ I @ I I -@I I v@, I I-@ I I I @ Gl-i I I IBI -@ I I I I t(91 i -; @ --,I : I I I -l I I I IaI @ E IBI +:2 IBI IE I I T. Noticcs: Any notice given and any request or demand made in relation lo the Credil Agreemenl shall be sufficienlly given or made il sent b1, registered air letter, authenticated SWIFT or f;ar.

Such notice.
Such notice.

requesl or demand shall be deenred 1o have been dul1,given or made u,hen il is duly dispatched / tralsmitted to lhe party to which il is required to be given or made al such partrrs addrcss specified belou, or al such olher place as such party may designale in l'ritrng.

When anv nolice, request or denrand is gir,en or made by teler or fax.

the part), concerned shall also send rvilhin a reasonable time a confirmatorl, copy ol-such teler or lax br.

airnrail post.

:: : .

.


==:=- 'l $1il{l5l \ ll ,\.

26 .l: \It^/) Le'--€3seeBsEgeBB ',..r!

':-rit 6i.

r= 1..>- tA [5 f- tE a- r5r Ga [= E:--E--[51 € I @--B-- @-'-@__@:@-@-@--@-- @--@- B--B--@__@--@-- @--B--@ --B IBI IBI @ I.B BORROWER I I The Govemmenl ofthe Republic ol'Sierra Leone Ministry of Finance and Economic Detelopr,rrent.

Treasurl, Building, George Street, Freetown.

Sierra Leone.

I !

@ @ I I @ I IBI I-@ @ BI I I I I .


'- I I I =,1I I B: I IB' I EXII\4 BANK Altention : Financial Sccrctan Telephone No : +232-22-22221 I lZ2lTZl\ Fax No Email .

+232-22-228472 .

IbeSrelqry(a4afe{e,grjl E\porl-lmport Bank of India OITice Block, Torver I, 7th Floor, Adjacent Ring Road, East Kidu,ai Nagar.

Nerv Delhi- l l(X)2i Attention: I-OC Gloup 1'elephone No:(91-l l) 24607700 Fax No: (91-t l) 20815029 SWIFT: EIBIINBB Enrarl: erimlocq@exinrbank ind ia.
irr i=:l I -i I ;: I:t5l i I I I _tBI > I I @, I I et I I @ =I IBI =>l tl @ I I I uI' I irlllii$t,' q'dr1- 9l*1i1," \ -21 - ,G-,*-*,= '.:r'.

:,,' ..i r L: a:\ Et .-i tA E E- a'.:.

I @--@--B--@:@:@-@--@--@-@- @--@--@--E -e--E__@--@--E--tr @ I I IBI I-BI @ I I _t I @ Ie @ I?a IBI -@ I I - @;r G€.
, I @ I I Y@1 I ,G') I Le1' i,'a L!=l i'- re I I I @ I-@ @ I I I IN WITNESS WHEREOF this Agreement has been signed in duplicate on behalf of the parties hereto b1, persons duly authorised in this behall respecliYely on rhe dare and place menlioned herein belou,.
SIGNED AND DELIVERED on behallol ) TI{E GOVEIINI\IENT OF THE REPUITLIC ) OF SIERRA LI,ONE by the hand ofrts duly authorized oflicial 0"u ) ) Dr. Patricia [-terly, Deputy Minister of Finance ) al Freelo$o- Sierra l-eone on rhe I 3'l' da,v ol- Oclober 201 9. )

) /r r.F SIGNItD AND DtiLl\/ERED br'[,XPOltl'- ) IMPORT BANK OF INDIA b)t lhe hand ol Ms. Mecna Ver:na, ils General Manager at Freelo\\,n, Sierra I.eone on the l3'h day ofOctober 2019.
\ a,pJt, \\t\ I v 9IGN i 5 GN H j @ I I @ IBI ,-@ I I I @ I-@ I I I I @ @ :!'

I|,*--r*--,,--.--rqa--rel--(el--te\--(@t--f@.--(@,--t/-.2--rA-.lA-.

[@--@- t-,=, i=J Lr, cJ .jJ I I I @__@--@--@__@._@--@-_@_-@--B--@- B--B- @--B--@-..'e @ @-- IBI @ IBI ,t @ IelI @ IBI Ig a.

The Borroter shall lorrrard a conrplete sel of fte prequalification cr tender docurnents lo E\irn Bank lor ils approlal prior to the slart ol process.

(i rridelines for llirldirr arttl I)r'ocrrlcrttcnt Plocetlrrlcs !

'l lil Alld .

: lr.


rd er Anttcr n r: I I I b. Teirder tiocuner)ls \\ ill ncc(l to bce conrplete in all aspects lurd shall nol be in nalrrlc' ;rnd shall ellsurrr glealer parlicipalion from lndian conlp:xlies ternrs shall be linked to rnilestone achievenrents under lhe Prolecl Esinr r reslricl tlle adlance paYnl!

'nl up to 2()'/u of the contract value l0%o o[ th value l,ill be retained and disbursed onlv after the inslallalion and col'l'lrl of equipnrent supplied irnder the Proiect.
Payolent terms shall include damages in llre range of l--5')o of the corllract value lor delavs: '5-lll( tt \,e ,'lr) r reDl rrnl ,tcl_v c()n |acl rsror ing lLrrd 4ed r' Erim BanL till invrtc Erpression ol Interesl liom lntiian conrpanies/er underlake a prc-qualillcalion erercise lbr each project.

l-hc list of plt- conrparries leltities rvill be prorided to lhe Borro\\'er.

l'he Borrol'er sl: trids fi.onr thc pr e-qualifietl conrl;anies/ errtities.
res rnd rlrlr ietl 'I ) ile d. T1re Borro\er nraY contlrrct competitive bidding procedures antL) prequahficd urnrpanies in uccordance tith prevailing procurement la\\'s, regulalions ol (he Borro\trr''s (lounln lo ensure thal thc arvard ol'llre Conlract lo the Scller is nrade in a l'nir and tlalsparent mar)ner.
thc I reguiations of lhe [roros'ins counlrv relatir]g 10 compelitile bidding si clearh dellncd urd detiiils ol rritich shotrld be providcd to Exim Banl rn ad rl- an.enlitr rs blacllrstc-d br :tnr ntulltlltl,-'rd llgc'llc\ or int) atlthorit\ lr] lrl(i lJorrou'er'-s ('orntlr\, such r'nlilv u'ill not be eligible ltr participate.

neilh prequalification process nor the lendeling process: ::l he lcs nd 'lrqr rlc c: .
trd r rltl be ll)( ( , r ')-' , lC l'he Borrorr er slrall erprcss the' bid price onh' in Dollar (US5i): The Borrorvcr may drafl lhc contract l'ilh scope of \vorks and price ald 1 schedules on lines stnrilar to the DPR and the lender doculrlenls.

Ullder 1l erpenditure heatls generalh stated in DPR- lhc contracl shotrld include surtr hcadrngs ol erpenditure to dellne tlte cosls more preciseh.
Anl delia{lor conuact lis-a-ris the IfPR and t'he tender docunrenls should lre support detailed justifications lor such deviations.

Exim Bank shall anall,se the (.lraft conlract to ensrlre lhat lhe same is in line .

rtlr tire DPR ard the tender docuntents ln case of an1' discrepartcl'- thc same rll 'e l\ ll'k Ill trrt rd 'c st )- rt Ire I rr r.h I I @j I I l?

li, KE t_ (_3 ir.

I -.,] Ibl IKi Bht- dr @ lg I I I T .,1 V:a= \li ti ittiNI'IFq + Ir le f- ti .- =.
: l-G..' : .T I ?-a I I i I7--.I -atr:r: i=e.

]-,- I a€ I g --@--@--@--@--@--@_-B__@-@--@-@-@:@__B--@--@--@--@:B @ I I I I I >) I I I _t @ ==l 7-, I I I r-l 5, a Eg I 3r ?4, | >.1 I Tt-- L-=l Ii= @ i3 -r @ I ;: :1, -'- @ Bi It3 rd, I I I T @ tiI In BI (9 @ referred lo the Government ol India after obtaining clarifications lrom the Borroq,er.

Exinr Bank may- il'required- provide its inputs lo the Borrower on drafting the contract.
Alter the bidding process the Borros,er rvill submit a copy of the draft conlract aDd the bid evalualion report to Erim Bank Erim Bank shall analyse the said reporl 10 ensure that the conlract is being al,arded in a lair ar')d transparent manner and convey inclusion ofthe contract under the Credil lo the Borrower; ln the evenl of any deviation frorn the procedure of bidding, the Borros,er shall provide a detailed justification lor the same to E\im Bank, rvhich, in tum, till seek the decision ol the Governmenl of lndiq regarding approval of such conlracts.
k. The Borrorver shall arvard tlre conlracl in accordance l'ith lair and lransparent evalualion crileria and procedures, Erim Bank l,ould reserle the righl to keep in abeyance all conlracts that arc violative olthe norms olthe lransparencl, and lair con.rpelition, The contract is betrveen the BorroNer/ils nominaled agencry'Buver/erecuting agencv and the supplier or conlractor from lndia ntose selection is the prerogative of the Borrorver.

E:iim Bank shall not be responsible for such selection.
The responsibilitl for the implementation ol'the Project and therelore for the asard ald administration ofconlracts under lhe Projecl resls u,ith the Borroiver- D llt'*.,, i.

\j'V;,' -30 : .

: : :j $ ,F- ;,ff-F 1-\ Vi-, Gt Gr b> G- blz [- 6 L>, N=, 6 6 r=.

lA lg n- t> lA ?- l\>, L> Ii- L=r L= -'=r a= r]=i € --@--@:@--@--@__@--@--e--@--@--@__@--@--@:@--@--B -@--@ @ , I @ I I I @ Iei!

@ I@ I I I I @ Ie eiI @ IB @l I I I I I ae* I i - t,a,-, -i= !

::> I Ie I @.
::> I Ie I @.

l\-r I I Annc\urc Il CONTITAC'T INCLUSION (On the letter head ol lhe Governrnent of lhe Republic ol- Sierra Leone) DETAILS OF THE EXPORT CONTRACT TO BE FINANCED UNDER CREDIT AGREEMENT DATED BEI'WEEN (NAME OF BORROWER)- AND I'XIM BANK I 2 J 4 5 6.

7 8.
7 8.

9 I() lt No and Date of - Conlract Name & Address of lmporter Name and Address of Exporter Currencl ofcontract Value of Contracl l)eferred Credil : : : USD USI) Description of Eligible Coods and Scrvices : \zalue ofGoods and Sen,ices to be sourced fronr India: USD Delivery Period Pre-shrpment inspectiorr agenc\' PN4C .

: (Nanre & Signatur'c of Arrtlrolized Signatory/ies) I \BI I i5t, =I @ I I -l I + -il- ''B.B B g IE E B E E E E B iG E l)tt^rl' 0r.
r,.-\) t\t ENT A I lTlto tr ts.\t't oN (On thc letter head o['Governnrent oltlre Republic ofSierra l,eone) Anrre\urc III E.rport-lnrport Bank ol India Oillce Blocl.

'lbrver I, 7th l'-loor- Ad jacent Ring Road.

Liast I( idri ai Nagar.


Ncrv Delhi- l l0()21 Dear Sirs- Re Dollar Credit l,ine ol US$ ._ Llnder the Dollar-Credit [.ine Agrecment datcd Contract valued at USli betleen (Seller) zurd _ (Buve'r) Wc rrish lo irrl'ornr )ou thal the Scller has prestlnled lo us its rn\oice duh'certrl irt lespecl ol *adrance pavn)eu( lltrrcr ['rx :ln aD]ount ol'US$; -__-- ilbo\e conuact / *supplies nrade / *services rendered b1'the Seller lo lhe Iluver / ol'retr'ltion nronel ul)der lhe abole conlract.
\\ie lrclebv rrrer,ocablr aLtthorrze llsrnr llank to tnake pal'ttlenl ol'tlle saitl arttotr lo the designaletl accotttrl of the Scller in accoltiurce lillr thc instrrrcliorts llrnt nrat' ha\:e beetl giten b1' the Seller 1o Erilrl llank.

We agte ilrr)olxrl so paid bY Exinr Bank lo the Seller shall be decmed lo be an Ad\.ance Erinr Bank to us oul of thc Credil and lhe date on shich l}inr tlank shall pav lnlounl llor.n \{urnbai shall be (Srenretl ttr tre the date ofsuch Atllance.
We re(lrresl l--rim Bartk to adlise us the date and lhe ixnotlnl ol'lllc Ad\'illlcc pa.\'urent is ntade bY Exinr Bank is aloresaid.

i i, 111!'

r.l.'

tlre ,.

t\ i I L'l1l (,1 \i!\'l thar nild -'t) li rs:i; lenI lhe bv the .

,,n licr \.ours lhrth lirlh - *Plerse delele rriticheler is not applicable.

(Nante.t Signaturrc of Arrlholizcd Sign:'roI'f ies) .

=-- ,!

il -.

: 1 i$llllSIEp ?


-si il ,x:IfrT \ -l; ) q/ - i.l I I I I OPINION OF LDGAL COUNSEL OF THE BORROWEIT B-@-@--@-@-@--B--@-@--@-@-@--@--@__@__B--B__@--@--B IBI IBI IBI IBI @ IBI @ IelI @ IBI I?a Export-Import Bank of lndia OIfice Block, Tos,er 1.

7th Floor, Adjacent Ring Road.

East Kidrvai Nagar.

Nelt Delhi-l10023 (On thc Letter Head of Legal Counsel of Governmenl ol the Republic of Sierra Leone) [-rrclosrr rc I RellNo Date I I I I I I I -@ I a.Bl >l lE.

-l I r,:e I e?
-l I r,:e I e?

, :=i 7e -it5 I I @t €1 I I =::>) Ig I I =z i @ '5t5l I Ie Ilc: Credit Line of to Atln: I\4 r/ Ms (NAME), a Counsel and Legal Adviser to the Mrnistr)' ol'_ t. Government of -_ ("the Government") havc examined the Dollar Credit signed] / [to be signedl between Export- Line Agreement ("the Agreemenl") fdated _ lmport Bank of India (Exim Bank) and 1he Government for a Credit Linc ol- (1he Credit") agreed to be nrade available by Erim Barrk lo tlre _ Govenrrnerrl.
ln conrrcclion Nith this opinion I hale eranrined the cor)stilul.ion- Iar,r's- decrecs.

judicral ("the Republic") and such decisrons- nrles and regulalions of agreemenls- instruments.

documents and other mallers corrsidered necessar-v or destrable lor the opinions hereinafter expressed.

Based on the foregoing.
I am ofthe opinion that : I I (a) the Governmenl has full porver and authority 10 execute and deliver the Agreentent and to perform its obligations lhereunder, (b) and i Mr the official(s) representing the Nlr Ministry of _, Governnent of the Republic haVhave full porver and aulhoril_-v to e\ecute and deliYer lhe Agreement and all documenls pursuant therelo in the name and on behalfofthe Government; NV + @ I I (_x s.JEg={B' re e s s B € B-'E--E- €-'@--@ E- E' G E -: G.i I I I e, IBI IBI BI @ I I I @ I I @ I I I @ IBI @ I I I !
,-, =.

r.i- l l I.a-' i I I (c) (d) the autlrorization artd anr ollrer procedurcs necessarY lbr inrplcmental o' llle Agrecnrenl have been el'l-ected and cor)rpleled bl,duh aulhorized persor ' rxr ilies ollhe Govemmer)t. r thereibre.

the agreemcnt has beer: duh aulhorized bv and nrade.
s rrcd and delivered/ nrav be nrade- signed and delivered on behalIol'the Go\cn rrcn, and constitutes/ will conslitute a valid and binding ohligation upon lhe (iolerr; rrrrl u,ith 'regard to all rls leflns and condilions The opinions hereir expressed are ltnriled lo tlle malters govemed b)' the la s o lhe Reput:lic il.s applicalrle lo thc Go\ ernnrerl and I e\press no opinion as to the ll s (r' anY other .jrrrisdictron Yours lhrt]t Iu llr - (Nanre et Siguaturcof lhe l,cg:rl Corrrrscl) *Pleasc deleli.'
rrhicher er is nol upplicablc n'---' -l- \-S - .

(iitit-UtNsrrri \ :'*:{' \t,,.

'',J., o,Iil?.

"iil .

:=-.- a-, ".

:9 -:!:'.

:= 1:.5 ,!r\i .

t!

.
/ :j J*t i.t a\- @ I I @ @ @ I I I .t I I I I I I @ IBI EI iBI @ @ IB Gij I I I i I I Et, .-a -l I I -- IB \: I I @ I I I Ig -r@ I I I IB @ I I -@-- @-@--@--@--@--@--@*@_-@--@.-@--@-@--@__s--@ --B--@ LIST OF AII TIIORISED SIGNA'I-ORIIiS WITII SPECI MEN SICNA'I'IJRES (On the lener head ofGovernntenl olthe Republic of Sierra Leone) Ilnclosrr rr Il Ref No E\portlmporl Bank of India Oflice Block, Torver l. 7th Floor, Adjacent Ring Road, East Kidwai Nagar, Nen, Delhi- l 10023 Dirle: Re: Agreerncrrt dated for Linc ofCredit ofUSD Extcnded by Exim Bank lo (Bor-rorlcr') t. (NAME).
("the Borrorver") herebl' confinn thal the lollorving persons are- .iointlr, / severally*, aulhorized to sign all docurnenls lhereunder including Payment ,Authorisalions and to represent the Borro$,er in conneclion s,ith inrplen.rentation of the Agreement : (Designation) Namc I I .

Desiqnation _ -__ S ccinrcn Si :llu I I I *Please delete lfiichever is not applicable (Nanre & Signatulc of Authorizcd Sign^torf/ics) Stamp tI'I $4tNl5I -i5- i. l ni ".t,;.,,Tf., .g.
ffi:.F--G.:G -B--B- @-@ rB @- e,--E -E--B--@,--B--@--E--ts